Shark Tank investors often confront wannabe business empires with a million dollar question: if we decide to invest in you, what will you spend our money on?
Loosing money on making premature investments into fancy branding and marketing campaigns is how most startups out there get burned.
Yes, you can make a million by investing two. But what's the point!
Your coaching business will require you to invest, no doubt in that. Just like building any other business, at the beginning and throughout the years to come you will spend money to make money.
When you don't have millions to spear, then you must get concerned with putting money into something that will get you the absolutely best return on your investment, right from the start.
Watch my video to understand what would make the best return on your investment.
Is it branding? Is it marketing? Is it FB ads?
The best investment of you time and money is creation and development of your proprietary system. You must have a predictable step-by-step process to get guaranteed results for your clients.
The good business begins with serving your clients and beating your competition.
Chances are you are not alone trying to solve the urgent problem your clients have. Coaching world is especially oversaturated. Everybody seems to be a coach, or a consultant of some kind.
To differentiate yourself you must demonstrate your ability to get results.
But to be one of those... is not the same as to be one of a kind.
The real money is in standing out, serving your market better and faster than anybody else.
And to do that you need to focus on developing your process.
Let's call it Your Method.
Without Your Method you become a commodity. Why hire you, when there's somebody cheaper, or free, just around the corner? You would have to compete with your price. And, I can guarantee you, you won't be able to beat big old established businesses. They spend millions in advertising and can afford to sell their programs for peanuts.
The best known way to get noticed is by making a highly in demand irresistible offer your target market can't get anywhere else.
To create your irresistible offer, a transformational coaching package, a healing program, or a consulting proposal, you will have to focus on developing and perfecting your method. To charge for your work with integrity you want to be able to guarantee your results.
You will have to give up on the approach that most coaching schools teach. If you believe 'your client has all the answers within' or 'I'll just use my intuition' you will fail to guarantee significant progress for your client. That leads your client to lose confidence in your mentorship and expertise.
If you ever feel like a fraud, it's because no one had told you how hard it is to communicate your value, market and sell your coaching without showing exactly what you program will do for your clients. This is why most coaches fall into the bad for their reputation habit: they overpromise and undercharge.
Instead, you want to focus on how exactly your method works, test it, optimize it, make it perfect. When you are crystal clear on how you do what you do, what specific benefits your coaching provides, marketing and selling your programs becomes easy.
Most high ticket coaches don't rely on Facebook ads to get clients. They use their reputation and client's testimonials to attract their ideal clients consistently.
Coaches from my Advanced Coaches and Healers Certification say, they love marketing and sales now, because they feel confident in offering their programs.
They triple and some times 10 time their fees and feel in complete integrity, because they know that what they do will, in fact, work.
There's not many coaches in this big pool of newly certified coaches who can actually guarantee their results. That is why they are struggling.
Learning more marketing or investing in ads and social media gadgets doesn't solve a problem of having consistent coaching business.
You can't scale a business that is not proven to serve your audience better and faster than your competition.
You can't make money while you sleep, selling products online, if you products don't work.
Investing in branding, lead generation and scaling comes secondary to creating a solid irresistible offer your market will readily buy.
Lira Kay is an international bestselling author, founder of School Of Inspired Life, a contemporary professional training center for expert coaches and healers.
Lira has been assisting people to transform their lives for almost 30 years, through art-therapy based workshops, psychotherapy practical seminars, transformative classes, art, international curatorial projects, coaching, speaking and spiritual healing workshops.
After traveling the world Lira settled in Walnut Creek, CA with her husband and their 5 daughters.
You can learn more about Lira’s work at www.schoolofinspiredlife.com
Lira is an author of 3 books:
Now Or Never, How to Get What You Want Every Time You Say I Wish.
I Belong, The Journey From Lost to Found.
Release 20 Pounds of Pain, Practical Guide to Quit Addictions and Create the Body to Fit Your Dreams.
Lira was born in Russia, grew up in Estonia, moved to UK in her 20-s, then lived in France, Marseille, until eventually moving to Boston, MA and then in San Francisco Bay, CA.
On the daily basis Lira is working with talented women entrepreneurs helping them to create a business based on their passions. She specializes in training coaches to become exceptionally good at their work and runs an Advanced Coaches and Healers Certification.
Her current 111 Healers Project aims to mentor 100 healers who can work alongside therapist, bringing a purpose-oriented therapy methods to the masses. The idea is that as we heal ourselves, we all affect at least 10 people around us, our immediate family and friends, and then we can take our work to the next 100 people. So here you have it: 1 individual healed, 10 more, then 100 more again.
Lira inspires people around the world to heal themselves and start giving back, living their purpose. She speaks on many international platforms, including with Fearless Woman Summit, reaching 233,000 women around the globe, regularly doing radio and video interviews and trainings, and teaching from her weekly Facebook Lives.