When is a four-figure income better than a 6-figure income? When you’re a brand new coach with a brand new business!
One of the biggest mistakes new and aspiring spiritual life coaches make is that they try to build and run their businesses like six-figure coaches.
What’s the problem with thinking big and aiming for six figures?
Well, if you haven’t created the foundation for consistently bringing in at least four figures every month, then you certainly don’t have the tools and structures you need to bring in six figures over the course of a year!
The most unfortunate problem that arises from prematurely aiming for six figures is that your focus gets drawn to the wrong tasks and you’ll find yourself attempting to build systems that are missing key components and are therefore unstable. So your projects collapse and leave your resources drained and your hopes in ruin.
I did this for years and it sucked because I’d invest time, focus, and money on projects that all the successful six-figure coaches were doing, but when it came time to receive my returns, I was way off-target AND I didn’t have enough money in the bank to sustain my efforts! UGH!
The problem was that I didn’t have the business basics, which were essential to CONSISTENTLY bringing in an income of at least $50,000 per year. Heck! During my first year as a spiritual life coach, I earned about $5000 in coaching income for the entire year, even though I was working at it 25 to 30 hours per week. Thank goodness I was still doing massage and Reiki full-time in my wellness center because I needed that income to supplement my new coaching business!
During my second year as a coach, I grew my income to about $15,000. That was the year that I sold my brick-and-mortar wellness studio and went to pursue coaching 100%. But even with all my focus on my coaching business, I still only earned about $24,000. After three years of working for myself, I was still not earning enough income to survive. I went through my savings and lived off credit cards for years.
Why was I struggling to earn even a meager income and why was it taking so long to build my business?
The answer is simple: I was using six-figure business strategies to build a brand new business that had not even proven that it could deliver me four figures consistently. In other words, I was trying to run before I could walk.
Look, in my defense, I was doing the best I could. I simply didn’t know how to run a coaching business. Even though I had gotten a coaching certification, I received ZERO business training. So I knew a lot about spiritual stuff. But I didn’t know how to package my knowledge, nor how to present it and my spiritual gifts in a way that would inspire people to invest their money with me.
And let’s face it, coaches… we need our followers to invest money in our programs because we are professionals and this is our career. We are spiritual, yes! But we are also building our businesses. And just like any other entrepreneur, we deserve to be compensated for the services and products we create.
My biggest error back when I was starting out was that I thought, “Build it and they will come.” But I didn’t realize that I needed to take into account the psychology of what inspires a person to actually purchase the thing that I’ve built.
People are not simply mean, and my offerings were not weak or valueless.
I just didn’t understand the basic psychology of buying, which is a foundational pillar of any business. I could have mastered that early on if I had stayed in my lane and created my four-figure coaching business before attempting to imitate the six-figure bosses.
They were six-figure coaches because they had already figured out the buying mentality of their ideal client! That is a BASIC and essential foundation for every business. Without it, the business cannot succeed!
So, what is the solution? How do new and aspiring spiritual life coaches build their businesses for four-figure, then five-figure, then six-figure success?
The solution is REALLY simple. First, you build your solid four-figure structure. This involves getting ALL the foundational components in place:
You need your ideal client, your niche, and your signature offer.
You need the core message that supports and inspires your ideal client to invest their money with you.
You also need to have your marketing strategy for social media, email, and organic marketing.
Another thing you really want to have in place is all the core content that clearly presents you, your spiritual philosophy, and your core messaging.
Boom! With all that in place, you will begin to consistently bring in clients who will pay you. You can start off as a three-figure coach (hey! Don’t knock it! I remember my first $100 payment. It felt AWESOME!) But those three figures should grow you quickly to four figures.
Once you hit four figures, the key is to have the systems in place that consistently deliver clients to you. From there, how quickly you grow your income is a matter of a lot of factors, but one of them is certainly how effectively you have nailed your basic business structure.
In my certification program, I get my students poised to hit their first four figures within one month of graduating. Our pre-graduation goal is to enroll three to six clients into their signature offer, for which they are encouraged to charge from $1500 to $2000 per person.
If we look at the most conservative numbers, three clients at $1500 each are $4500 within the first month of their graduation. For me as a businesswoman who values long-term growth and sustainability, this is a perfectly fine way to start your coaching career. Three new clients at one time are PLENTY to keep a new coach busy!
What’s most important is that all the structures are in place and that you can see how things can be improved or adjusted in order to grow your business.
If you have decided to become a Certified Spiritual Life Coach and you want to build your business with a good foundation that includes all the structures you need to establish your four- (then five, then six) figure income, then DM me here on Facebook and we’ll discuss working together in my certification and business-building program:
In this program, I hold your hand and walk you through every step of becoming certified as a spiritual life coach and the business-building process. I will help you learn how to coach, identify your ideal client, establish your niche and specialty, build your signature offer, as well as put together your marketing strategy for social media and email. We’ll also create the key content you need, build your website and blog, and create your healing community together. PHEW!
A final note, I tried to build my business as a new coach on my own but it was so difficult. I’ve cut through all the guesswork and come up with the perfect system to save you time and heartache. So let’s talk about how we can get your Divine Coaching Business up and running.
If you’re interested, send an email and we’ll chat to see if my program and you are a good fit.