Today, I want to talk to you about how to become a millionaire and how I’ve been able to go from $20,000 to over $4,000,000 in revenue in less than 18 months. So, if you want to know the four most critical things you need to implement in your coaching business right now to make your first seven figures, watch the video below, or simply read on.
Ever Wonder How To Become A Millionaire Coach?
What if somebody took you behind the scenes and showed you what it actually takes to make that amount of money in your coaching business? Well, today I’m going to do just that, and show you how we were able to go from five figures to six figures in monthly revenue in less than two years.
Looking back over the last couple of years, I extracted four key things that helped me go to seven figures and beyond, and those four things are:
- a scalable program,
- consistent leads,
- a team of “A” players, and
- the mindset for success.
So let’s dive into all of those four things individually and figure out the specific details for your success.
Pillar 1: A Scalable Program
When I realized that I was capped, I had to figure out a better way to deliver my coaching services without impacting client results. So, we did that with a scalable hybrid approach. I did not want to give up one to one coaching because I knew it was essential for people to get results, and to have accountability and a connection with their coach, but I was able to reduce it down to only one or two sessions a month.
Then I knew that my clients needed content, lessons, and to actually learn the strategies and the steps to be successful, so I built modules. I included workbooks and videos so that my clients could consume those materials on their own time, which also gave them a lot more flexibility.
I also understood that a group was something really impactful for my clients, because they love interacting with and supporting each other, as well as holding each other accountable. So I built a community piece into my coaching practices.
With the community, the self study portion of my program, and the one to one coaching. I was able to build what I call a hybrid approach that helped me to scale my business. The hybrid approach not only allowed me to enroll and work with more clients, but also gave my clients much better results.
Pillar 2: Consistent Leads
Think about your coaching business and where your money actually comes from. It comes from your clients, right? So if you have no leads, you will have no clients.
So, if I could only have one thing in my business and one thing only, I would want consistent lead flow. If I didn’t have a program, a website, or an online presence, I would still want leads – because to me leads and sales calls equal cash. If you don’t have consistent sales calls and nobody is reaching out to you for more information about your business, programs, or coaching services, you will not get clients. Your business will be non-existent, because a business without money is not a business…it’s a hobby.
Now, don’t think about leads as email addresses on your list because, email addresses are not money. Email addresses are not worth anything if these people will not actually work with you, buy from you, and if you cannot turn these emails into actually into actual paying clients.
Instead, what I want you to think about right now is how many sales conversations you’re actually having on a weekly basis. How many people book in to talk to you?
If you’re struggling right now with cash flow and clients, work on a way to consistently generate leads and Discovery Calls for your coaching business. For me, in the beginning of my career and to this day, I lead with value. I educate you, I teach you, I coach you. I freely share what I know and it helps people take those steps, and then they want more. So when you go out there and lead with education and host workshops, webinars, and talks, people will see you as an expert. From there, you can quickly and easily invite them to a conversation and book yourself consistent sales calls for your business.
Pillar 3: A Team of “A” Players
Looking at my business from when it was in the $20,000 to $30,000 range of monthly income to today where we’re earning over $4,000,000 a year, the business looks completely different. And that’s because back then, it was me and one or two people. I had a VA and a copywriter, while today, we have a full team of experts. I have coaches, marketing experts, tech experts, sales experts, and a variety of other people on my team who helped me get those results.
So one thing that’s really important in your business as you scale is to think about people. In the beginning of your business, it’s all you. But then over time, it will be you and your team, so you want to build out an org chart and think about those important positions within your business. First of all, consider your role – what you want to do within the company and what your specialties are. Then think about who needs to be hired to fill the other important positions in your company.
Scaling to seven figures will not happen if you’re on your own. I know very few people in this industry and market that have been able to do it, and it’s also no fun. You want to build a team of people you can have fun with, hang out with, who can add value to your company, and who can bring new ideas.
So, even if you’re just getting started and your business is still very small, I want you to visualize what you want your org chart to look like and who needs to be hired along the way to build out a real organization of “A” players who can help you run your business, support your clients, and get better results for everybody.
Pillar 4: The Mindset For Success
I know in the beginning of your career, it’s all about the systems and just trying to survive the day to day. You might be looking at taking courses, building your email list and a social media platform, creating a website and programs, and learning how to market yourself…but you’re likely not worried about your mindset.
However, we forget that your mind will be the one thing that will either allow you to hit seven figures or that will prevent you from hitting seven figures. So working on your mindset and growing yourself into the millionaire you want to become is really your number one job. So let me give you some things for you to focus on as you improve your mindset.
The first thing I work on every single day is gratitude and self love – gratitude in my personal life, in my business, and also for myself. Because as you build a business, you will face challenges and people who disagree with you, so building self love and strength is very important.
The next piece to a healthy mindset is forgiveness, which is a critical tool for you to use on a daily basis to move towards your goals and become a millionaire as a coach. When you look around, you’ll notice people who have grudges, negative charges, are worried about how they have been mistreated, or are blaming other people. However, they are thinking so much more about these things than thinking about where they want to go, getting excited about the future, focusing on their projects, feeling in state, and getting in flow. So let negativity go, because you have important things to do. You need to think about your next steps, the programs you want to launch, the results you want to create for your clients, the retreats you want to host, the money you want to make, and the way you want to build your own life…and you cannot do that and take any steps forward if you are stuck in these negative charges.
The next big mindset shift I want to give you is to turn your problems into projects – because behind every problem is your next solution or your next big step towards your success and reaching your goals. When you’re looking around the world, there are many people for whom problems persist. They see problems as walls that they cannot break through. So they stay stuck and begin to blame other people. They are down, negative, and sad instead of working on solutions. So when I face problems, I always begin by asking myself, “What can I learn from this problem? What is this problem teaching me?” Therefore, I look at how I can become a better person, a better coach, a better parent, or I can do things differently to actually get myself ahead. My mind naturally goes into solution, implementation, and action mode – and I actually begin to embrace problems because they are always opportunities for me to do things better. So, turn your problems into projects and start to take action.
The last mindset shift I want to tell you about is to live in the present moment. A healthy millionaire mindset knows that the past is gone and the future is unsure. All we ever have is right now in the present moment, so make the best of it. Be happy right now. No matter what’s going on, no matter what’s happening in your life and around the world, there’s always something you can feel happy about. Living in the present is a gift you have to give to yourself, and that gift will give you the strength to move forward every single day.
In order for you to become a millionaire and hit seven figures in your coaching business, focus on the four pillars I gave you today: your scalable program, consistent leads, hiring “A” players, and working on your mindset every single day. And I promise you, if you make those things your priority, you will hit those goals and reach the income you want to reach. It may be in six months, 12 months, or three years from now – it doesn’t matter when, but it will happen for you if you put your mind to it. And if you need more insights, there is a wealth of information on my YouTube channel on all different types of topics – from creating programs, to generating leads, to mindset, and everything you need right now. I’m excited to be part of your journey.