Removing the 7 Roadblocks Preventing Steady, $10k Months Part III
Including #3, 4, & 5
I thought it was best to lump 3 of the 7 roadblocks together, so as not to drag on too long. So, here are the next 3 roadblocks to consider.
3. Not communicating a clear benefits-driven offer
Speaking of seeing clearly, the way you communicate your offer is often like a fine wine in your eyes. You can just taste how good it is.
It’s your masterpiece. You’ve worked on this for months, maybe even years.
However, when most coaches try to explain their offer to a prospect hearing the specifics for the first time, they get a glass of muddy water.
What’s wrong with them? Can’t they see how elegant, smooth, and perfect your offer is?
Your job is to figure out how to turn muddy water into fine wine.
The biggest challenge facing coaches is their excitement about all the video modules they spent weeks producing, the 73 pages of text-based courses, and the 5 hours of group calls they offer clients every month.
Videos and .pdfs and calls! Oh My!
How does that benefit your client? Those are features of the program, not benefits.
The prospect hears you describe all “the stuff” and is only thinking, “That’s a lot of work! I don’t know if I can go through all of that. How is all that going to help me achieve the desired result?”
When I work with my clients, we constantly evolve how they communicate their offers. We discuss emotions, analogies, stories, and vivid imagery, all centered on one focus: communicating the transformation the program delivers.
I'll brag on myself a little bit here, but this is where I have been asked by million-dollar sales teams and coaches alike to teach them how to better communicate their offer.
I often help a person see their offer in a way that actually sells them on their own program. The value they offer becomes so clear that they start to get excited about sales calls… I know, weird, right?
That is why I insist on 1:1 coaching for each of my VIP clients. That process will never be taught in a recorded format.
4. Not a high enough price
Now, if you’ve noticed, I’m not promoting my coaching as high-ticket coaching, like so many think they’ve discovered online since about 2005.
Let me tell you a story.
I was approached by a goof-ru in 2006 that was proclaiming himself as a big-time, high-ticket demigod. At the time, I was working with a company that marketed and sold international real estate, doing $250,000 to multimillion-dollar deals every week.
I liked what the goof-ru were doing online and wanted to learn from them. They called me directly and told me how they could teach me this new, high-priced, big-money-selling approach, rather than what many people were doing, selling $27-$297 courses.
The wealth wizard then presents the investment for his big-money, high-ticket program: $1,000.
The value of their program deflated dramatically. I was ready to hear $5,000 to $10,000. Just a couple of years before that, I was consistently selling twenty-one $5k programs each month, month after month. My brain was shocked when I heard that it was only $1,000. He was losing out on at least $ 3,000 –$4,000 per sale.
Today, most coaches struggle to sell coaching programs priced between $1,000 and $2,500.
You must learn what you are offering and how it benefits the future client. Next, you must sincerely believe you are delivering a program worth five, six, or even seven figures.
Your mission is to Create Value Worthy of a 5-figure Investment. (even if you only sell it for 4-figures or less)
Once you have done that, you can now start increasing your prices.
Let’s look at the numbers again by going back to Part 1 of this series. (We started with the idea of you having a $3k offer and making 2 sales/week.) So the original is 104 sales per year at $3k or $312k/year.
If you only increase your coaching fee by $2,000 (less than double) on that $3,000 offer we mentioned earlier, and you make 3 sales a week instead of 2 as mentioned in Part 1 of this series, the numbers look like this:
156 total sales times $5,000 = $780,000/year.
Don’t let the math mess with you; that’s the challenge with separating the 7 Roadblocks into different parts. I’ll do a few live calls in June to help you out with your numbers.
You more than doubled your income without even doubling your fees or the number of sales per year. You just made more offers, resulting in 1 more sale per week. With a slight price increase, you doubled your annual income.
Consider what happens when you start selling 25% or 30% of your calls... which brings us to the next roadblock.
5. Fear of speaking
I have a tough time believing people would rather be in the coffin than deliver the eulogy, but that’s what I’ve heard for decades. The psychiatric world calls it glossophobia, and it can affect up to 75% of all people.
This report isn’t to teach you how to overcome that fear but to explain that when you do, the world of possibilities opens up to you almost as much as when you learn to sell.
By “speaking,” I mean speaking to larger audiences, not just one person at a time: Webinars, FB Lives, YouTube Lives, virtual events, workshops, or in-person seminars.
Speaking is a leveraged skill. It allows you to market your business, build yourself up as an authority, help people bond with you, and sell to more than one person at a time.
The beautiful thing about speaking to a larger audience is that you don’t have to be a great salesperson. You don’t have to “close from the stage” at all.
Examples of how this has worked for me personally:
I presented a webinar to only two people. We pitched at the end and closed both. 1 hour of speaking, two sales, $6,000 in the bank.
Did a 15-minute coaching session with another coach’s group by invitation. I never pitched. Just coached. Three people reached out to me to discuss my $30k program.
Held in-person events in a hotel conference room each month for over a year. No website. No internet marketing. We limited clients to 21 per month at $5,000 per person. We sold out every month with a waiting list. That’s $105k/month for 4 hours of speaking.
Did a small seminar for 12 people and presented a simple internet marketing service. Creativity on my feet turned that $8,000 sale into a $55,000 contract, plus a new vehicle from the client!
Speaking not only allows me to make more offers but also improves my communication skills for my 1-on-1 sales presentations. It eliminates most sales calls and objections because you answer them while you talk!
I’ll have roadblocks 6 & 7 up together in a few days, then in June I’ll be teaching on all of these with live one-on-one sessions for those who are interested.