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KEY INGREDIENTS OF A $500K A YEAR BUSINESS

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Episode Description

ARE YOU LOOKING TO MAKE $500K A YEAR IN YOUR BUSINESS? THEN THIS EPISODE IS FOR YOU!

I scaled my business from less than $100K a year to over $5 Million a year with just 2 programs— not 10 offers, long launches, and exhausting marketing strategies. How? I devised a strategic plan with the right offers, the right team, and targeted lead generation. In this week’s episode, I walk you through the key ingredients of a $500K a year business (Consulting, Coaching, or other services). I’ll show you the product suite I recommend, and the four key areas to focus on to make it all work. As always, stay focused on your goals. I believe you’re meant to bring your passions to the world!

Full Audio Transcript

Hi there powerhouse and welcome back to our channel and with the most powerful business scaling strategies for your powerhouse business in this video, I want to talk to you about how to generate $500,000 in your consulting business. Of course, before we get started, make sure you hit that bell and you subscribe to our channel. So you’re always aware of when new episodes become available here every week. Welcome to powerhouse business on YouTube. I am your host, Carolyn Soldo. I’m a business owner, business scaling master, and mom of two boys. I love thinking big pushing boundaries and doing things differently. Most of all, I’m all about achieving massive growth with ease. And how can you scale your business by living the life you love? Let’s go, I’m sure you’ve heard this saying before that, what got you here will not get you there by it. And that’s what it’s all about. (00:54): The hustling, the working, the making things work, the forcing and the pushing, got your success and got your results. And that’s why you are where you are right now. But in order for your business to grow more, we need to be smart and focused and strategic and doing the right things. So just working more will not get you there. But today I want to show you how I’ve been able to grow several companies to multiple millions in revenue and working with clients from around the world and how my clients are doing the same. They come to me at about 10, maybe 15,000 in monthly revenue, but they’re stressed. They’re anxious. Nothing is consistent. Everything is really wobbly and we bring them to consistent 40, 50, $60,000 months and more by simplifying their business by automating many tasks. And by helping them do business just Philly smart, right? (01:50): In a really smart way. So today I want to show you these key ingredients so that you can fix your business and you can have a lot more ease and simplicity as well. So there are two key ingredients I want to talk to you about first. And those are the most important things for your business to grow. And those are your offerings or your services. Your revenue comes from what you sell, right? And so what’s really important is how much time it takes for you to deliver those services and what they cost as well as how they are connected to allow you to extend your customer value. Let me explain. The first thing we need to look at in your business is what I call a bridge. A bridge program is a program that helps the customers start to work with you without feeling overwhelmed when it comes to their time, their resources or their money. (02:46): So that’s our service or a program. Let’s say you’re a consultant. That’s an initial program that allows your customers to experience working with you, to get some results, maybe to make a plan it’s not a six month or a 12 month engagement. It’s something shorter or something that’s easier for them to consume and get results from. And I call it a bridge because it really is a bridge or a stepping stone to your four service offer. So having a coach or consultant or service provider has that full service offer that luxurious offer that really focuses on implementation. That really focuses on longterm results and longterm success. And that’s where you really want to bring your customers to. But many times it’s difficult to get your customers from learning about you becoming interested, sort of want to work with you, but then invest at a very high level. (03:43): So there was a big jump and that’s why we need that bridge to help your customers get there. So what is a bridge program in my business, I offer scale Academy, which is an eight week program that helps our clients really assess their businesses in the six key areas of growth. So over eight weeks we dissect every single area. We go deep, we fix things. You make decisions. We work together really closely. And in the end they have an implementation plan. They know exactly where they’re hitting. The potential for Bevin really is. They also know their biggest hurdles, their biggest challenges and blind spots and what they need to fix, and they have a plan to do so. So I have my clients over eight weeks at a very reasonable price point and investment to really get clear as to how they can grow their business even more. (04:40): And that is my bridge. So let’s just say for, for ease, this bridge program costs $8,000. So this needs to be a number that is obviously going to allow you to be profitable. And you feel like you’re compensated at the level that you should be if I got your worth, but it also needs to be something that’s not too intense for your customers, your clients to get into with you. And so once you have your Bridgeport Ram ready, and it’s running great, then you want to think about where your clients need to go next. And ultimately that is all based on getting your clients the results they want. So you need to ask yourself, what are their next level goals and how can you get them there? In my business, we offer powerhouse, which is for coaches and consultants and service based business women, and man who wants to get their business to half a million, a million or more in annual revenue. (05:40): And so this program powerhouse business is 12 months long. Okay. It’s much longer, it’s much more intense, much more intimate. We have one to one coaching and group coaching and course material and retreats. And it’s really based on implementing their plan that our clients create and scale Academy. So the bridge is ready and it’s there to help them make that plan. But then customers move up into powerhouse where they actually get to implement with our help. So let’s say your full service offer is priced at $30,000 just to make it simple. So that is 30,000. (06:22): And again, our goal is to build a business that can generate half a million a year. So let’s not forget what our goal here really is. It is 500 K. Okay. So we know that now let’s do the math. If we only have these two programs, now notice that this is a really simple setup, okay? We’re not offering books and freebies and $97 courses or retreats or none of that spaghetti stuff. It’s really, really simple. And that’s actually one really important secret. When you get to grow your business, it’s not about offering a salad of things. It’s about giving your clients exactly what they want while keeping things simple for you. And that means only having one or two or maybe three signature offerings, core offerings that you work with. Okay. So let’s assume in this example, we sell three bridge programs a month at 8,000 giving us 24,000 a month. (07:25): And that’s assume out of those bridge clients, we sort of elevate and lift one powerhouse or one for service client, right? So there is another one, um, service full service client a month, which is another $30,000 a month. Okay. But that’s your monthly income. And if you do the math here, 24,000 plus 30,000, you’re selling on average $54,000 per month. And if you multiply that by 12, obviously you are at your monthly income goal, which is about $576,000. So the other thing I want you to notice here is that we’re not enrolling 10 clients, not even five, we’re enrolling four. Okay. Now I know those are really high ticket services, but they’re also delivered over a full year. They’re really focused on getting results and really getting our hands dirty and doing the work. And so your clients will get the results and the satisfaction from working with you while you again, keep things really simple, four clients a month. What that also means is that your marketing can be a lot simpler mate. And when your marketing is simpler, more specifically targeted, and that also automated your life will become simple. Your business will become stable and grounded and finally able to grow. You’re gonna crush through that wall. You’re going to go through that income ceiling and you’ll have a lot more just ease and peace of mind in your business. And isn’t that what we all want? (09:16): No, there are four and more really important areas. I want to talk to you about that will really build a stable ecosystem for your business and allow your bridge program on your full service program to really fly. But before we go there, I want to check in with you for a moment and see how you’re feeling. If there’s any overwhelm coming up, you’re wondering what does that actually mean for my business and how can I simplify things and do I have to change at all? Then I’d like to invite you on a business breakthrough call with me. This call is designed to literally elevate your business by looking at the six key areas of growth and together, we will dive into each of these areas, analyze your business, talk about what’s going on, find your potential, your issues, and also immediate fixes and things you can do right away. (10:05): And I will help you really pull apart your business, simplify it and make it ready, really get it ready for a massive growth. All you need to do to book with me is go to Carolyn solo.com/apply select the time that works for you. And then you and I could be speaking in just a few days from now, but now let’s look at the four key areas. We need to be building out to support your simplified business model and grow your company to $500,000 per year. The first thing you need is a customer journey to me, a customer journey is the path that your customers take from when they first become aware of you to when they eventually buy from you. It’s an online marketing funnel. And if you can automate your marketing to generate high quality leads like clockwork, 24, seven, and a hundred percent online, then you really have a machine that stabilizes your business and sets you up for growth. (11:04): So the customer journey is your strategically designed marketing path that fills your bridge program and or your full service program. And next thing you really need is a focus on results in order for your programs to sell marketing is one thing, but getting results is the other thing. So your bridge and your full service offer needs to be designed specifically based on the demands and the goals of the market. And that’s why it’s so important to look at your buyers and who you’re actually serving. Are you serving one type of buyer, many types of buyers? Well, that can also cause a lot of strain and stress in your business because that will not allow you to really focus on a specific type of result that your buyers want. So there’s lots of, for you to simplify there as well. The third thing you need is what I call an evergreen setup because in order for you to have monthly enrollments and smooth income, you cannot open and close your programs who should not be launching them, but instead design your services. (12:11): So their clients can come to you at any point in time and you can drive them in month after month after month to create consistent, stable growing income. And the last thing you need is simplicity, right? Keeping things simple for you, the business owner, I can’t tell you how many of my business women in the beginning come to me working 50 hours a week, coaching 30 hours a week, manual marketing spaghetti marketing, all of this hustle. And the number one complaint is they say everything takes so much time. My programs take so much time my services, my back office work. So if we need to keep things simple and everything you build, including your marketing, your programs, your operations need to be simplified and automated so that you can have that freedom and that flexibility that you want it and that you deserve when you started your business in the first place. (13:07): And now I want to hear from you, how did this video land with you? Do you have questions? Did you have any big ahas? Do you want my help again, if you want to book a breakthrough session with me, go to Carolyn soldo.com/apply. Book a call, and then your now we’ll be talking about your business in just a couple of days from now and create a plan to simplify while growing your company to that next big level. As always, if you liked this video, give me a like the law, subscribe to our channel and then come back again. Next week, stay focused on your goals because I believe that you are mad to bring your passions to the world in a really big way. Thank you so much for watching and take care. Do you often feel stressed and overwhelmed from growing your business? Do you crave more ease and happiness from your success? What if I gave you a tool that has the power to instantly make you feel focused, peaceful, and at ease all while growing your business faster than ever before, I’ve created the business growth scorecard that has helped countless business women place overwhelm with confidence and not a scorecard is available online. (14:18): It’s free. It takes less than 10 minutes and provides you with a customized growth plan, including your personal scores, go to business growth, scorecard.com to take the task. Right now, I look forward to helping you grow your business with ease and excellence.

Thank You For Watching!

I am truly grateful that you have chosen to spend your time listening to me.

If this resonated with you and you’d like to take the next step, go ahead and book in a private Clairty Call for us to explore your business needs and how I can help you grow and scale your business with ease.

Book your Call here.

With gratitude,

Carolin

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