Part 3: The Principles of Part-Time 7 Figure Coaches
At this point, we are aware that it's important to escape the current realities and problems the masses experience day to day if we want to be free to enjoy our lives.
We understand why coaching is the perfect career for the right people.
We also understand why most coaches fail.
So how do we build a part-time 7 figure coaching business so we can love what we do, make more money, and work less?
Let's dive in...
Shedding Old Paradigms & New Principles for Our Work
The Masses vs. The Masters
A part-time 7 figure coaching business DOES NOT serve the masses. It's a trust-based boutique coaching model that focuses on serving a small number of clients at the highest level.
This is not a business model for people who want to be famous or influencers. It's not for coaches who want to work with thousands of clients or have millions of followers.
This is for coaches who want to be an EXPERT and MASTER at their craft and what they do.
The people who operate a part-time 7 figure coaching business are THE MASTERS who delight a small number of clients and serve them at the highest level.
Why is this important?
The masses are average. This isn't a judgement, it's just mathematical fact.
Anytime you're serving the masses, you have to cater to everyone and out of necessity your work will be average. Any training or coaching that serves the masses is by definition not the best. It's watered down to appeal to the masses.
This is similar to the difference between McDonalds and a small world class sushi restaurant that serves some of the world's best sushi.
McDonalds serves the masses and is really good at that.
There's nothing wrong with McDonalds, it's just not the type of business we want to operate.
One restaurant that's a good example for what we're doing with our coaching businesses is called Sukiyabashi Jiro. It's widely considered to be one of the best restaurants in the world.
It only has 10 seats.
They DO NOT serve everyone.
For example, if you're someone who will only eat your sushi with wasabi and soy sauce, you're out. They won't do it, as doing so compromises the food they make from their perspective.
The owner and head chef is considered to be a master.
This is the type of boutique coaching business we're operating.
It serves at the highest level.
It serves only a small number of clients who'll be delighted by what we do.
We get to spend a large majority of our time doing what we love.
We focus on MASTERY of what we do and clients get so much value out of our work together.
To build a part-time 7 figure coaching business we focus on having high impact. We help clients transform their lives in less time and with less effort.
In the old paradigm of work, value was created through blood, sweat, tears, long hours and lots of effort. You got paid by doing hard work and working long hours.
This was true for previous generations and it's true for the general population.
This is not true for those of us who are part-time 7 figure coaches.
Our value to others, is in our high impact, not by how many hours per month we're coaching them.
In fact, it's better for our clients and better for us NOT to waste time and energy in unnecessary conversations or doing unnecessary work.
Clients have more time and energy to enjoy living their lives when we have high impact in a short amount of time in solving their problems.
In this type of business model, we don't do anything that doesn't have a high impact and everything we do is filtered through this lens from marketing, to sales, to our coaching with clients.
High impact is how we can work part-time yet still transform client's lives and make the money we want.
Create Trust & Build Relationships that Last
The foundations of a boutique part-time 7 figure coaching business are:
- Relationships that last
Our #1 goal in a business model like this is to build long term relationships that last. Our intention is to work with clients year after year.
HINT: This is a big secret to not having to constantly chase and beg for new clients like most mass market coaches.
Let's relate this to romantic relationships for a moment because it makes it much clearer.
Most coaches treat people like one night stands. They market and sell to them like one night stands. They make big promises of amazing things to come to get the initial sale, only to let the client down after that first encounter.
We are the complete opposite.
We are looking to MARRY the right clients and get into long term relationships where everyone wins. We don't casually date anyone or look for one night stand clients.
We don't swim in the shallow end with our clients, we only swim in the deep end together.
We do this by becoming a person's trusted advisor. This is why having high impact is so important.
But what is the foundation to all relationships that last?
Everything we do in our business starts with our ability to create authentic trust with people. Trust is really the ONLY competitive advantage you have.
Our ability to create rapid trust with strangers who are potential clients is WHY they pursue working with us. We are creating trust in any of our communications with potential clients.
Potential clients come to trust that we:
- Understand their problems better than anyone else
- Are an expert in solving the problems they're having
- Can help them specifically solve these problems
- Tell the truth whether it's in our best interest or not and whether they like it or not.
- Are putting our needs to the side and that we have what's best for them as our #1 priority
When a coach creates trust at this level, potential clients pursue working with them because it's so rare.
But we don't stop here. Remember we're creating marriages or relationships that last with the right clients.
We focus on creating deep trust with our clients. This is one of the reasons we can have such high impact. When clients trust us unconditionally, they tell us the truth faster, take action on what we talk about faster and get results faster.
Once a coach becomes a trusted advisor, clients don't just look to your coaching for the first problem they came to you for, but they seek your coaching for the other important areas of their life because they trust you and believe in the relationship so much.
This is the reason we can make sales of $10,000 to $25,000 with a 500 word or less email to an existing client to keep working with us.
If you take nothing else away from this manifesto, know that your ability and skill level at creating trust with your dream clients and building relationships that last with them is key to this type of business.
Create a NEW Trust-based World for People to Step Into
Each person has an existing world they live in and experience everyday. Each person's world is different from anybody else's world. No two worlds are exactly the same.
This unique personal world includes:
- Your thoughts and feelings (your inner world)
- Your actions or the things you do
- Your daily habits and routines
- The people in your life
- The things in our life
- How you spend your time and energy
- The results or outcomes in your life
A potential clients current world is either filled with big important problems they haven't been able to solve yet...
...or they're doing great, but they have a greater vision for their life that they haven't gotten to yet on their own.
Through our communication with potential clients, and through our communication and coaching with clients, we show them that there is a whole new world for them to step into.
In this new world they're able to solve their problems and reach their vision for their life. Many times they expand and elevate their vision in this new world.
As a part-time 7 figure coach, we are their trusted advisors in this new world. We are taking them to a place they've never been. Our ability to guide them to and through this new world is one of the reasons we have such a high impact.
Laser Focus over Complexity
In operating a part-time 7 figure coaching business, one of our biggest obstacles is complexity.
Our brains are wired to regress toward complexity. By nature we add complexity to anything we do. On top of that, most smart people overcomplicate things more than the average person. Most businesses are complex with lots of moving pieces.
A part-time 7 figure coaching business is NOT complex. Nothing that has a high impact is complicated. In fact, high impact comes from a laser focus and simple leveraged next steps. One of the most important things we do for our clients is to take away complexity in their lives and help them have a laser focus.
This is also why we don't work with the masses. Coaches who serve the masses struggle to keep up with the volume of work to help the masses with their many issues. We're laser focused on strategies that'll help a person break through the ONE issue that'll lead to massive transformation.
The masses require a business to scale, while working with high impact requires a business to have laser focus.
Leveraged Business Model and Practices
All high impact results (time, money, relationships, health, business) are created by laser focus and leverage.
Most people have a scattered focus and have low leverage in their lives. They're time and energy is mostly going to low leverage activities. Low leverage leads to low impact.
One farmer shovels the dirt in a field for 12 hours a day. 7 days a week. He gets the field ready and planted in two weeks.
Another farmer works with more leverage. He takes a tractor that does the work with less effort and in less time and has the field ready and planted in two days.
That's high leverage.
We use a leveraged business model in operating a part-time 7 figure coaching business. We never use a shovel when we have one of the best tractors in the world. This efficient and leveraged way of working is a win for us and our clients. One of our biggest values to our clients is we help them leverage their time, energy, money and resources too.
We help clients step into a new world where everything is created by laser focus and energy leverage.
Most people live their lives feeling underpaid and never truly feel free from money concerns. People struggle with money because they fundamentally misunderstand what money is and how it moves in the world.
As a part-time 7 figure coach, we truly understand how money moves in the world and we have a good relationship with money.
We're able to talk about money without fear and without apology.
We know that money itself is not the end goal of what we do, but it is a big part of living our best life.
We organize everything we do on the business side of things, starting with how we think, to be in alignment with why and how money moves from person to person and place to place.
We also think about money for our clients as an investment.
Results and good outcomes for clients come from investment. People don’t care about what they don’t invest in. We help the right clients invest their time, energy, actions, decision-making AND money so they can get the outcomes they want.
These are the principles of a part-time 7 figure coach.
Sometimes it's difficult for people to understand how a coach can make 7 figures working just part-time.
We've created a map to show you how you can make 7 figures as a coach.