Are You A Coach, Speaker or Trainer Who Wants To Build A Thriving, Meaningful And Profitable Business Helping Others?
Here I share the 4-part profit model that I have used to build my business. Learn this and adapt it and I’m certain you’ll get great results as well.
Niche, tribe, whatever you call it, this is the very fist step. What is your goal? If you’re a coach or a speaker, your goal is to build a community that you will serve. You need to make a decision who your core community is going to be. Building a business is hard work so you need to have these frameworks in place. Here they are…
Have a problem that you’re good at solving. You don’t have to be the best you just need to be better than others at what you’re solving. As long as you have a reasonable level of knowledge expertise and skills, you’re fine.
Are people spending money to solve that problem right now: When you identify your passion and competence, find out if the market place is spending money to try to solve it. If yes, then this might be the right niche for you to expand on.
You want to consistently grow your community and have the people come in so you can help them achieve what you want them to achieve. But how do you do that?
People have pain and frustrations and problems they want to solve. An example is someone who wants to lose weight. You want to find out where he/she could be. (Facebook groups, certain websites, gym, magazines they read etc.).
Then you can use free reports, free webinars, and teleseminars to learn a process to lose weight in X amount of days…to reel them in. Take this offer and position it somewhere they’re likely to be to attract them in.
Now how do you measure this growth?
You need to pay attention to and grow your email list. Constantly ask yourself these things: How many people joined my Facebook community today? How many twitter followers did I add? How many people subscribed to my email list?
Be aware of the strides you’re making because it reflects how effective your magnet(s) is/are.
Serving your community is the core of your business. This is what you want to get right. Your business is to help them get to where they want to be from where they are.
DO NOT hide all your value behind the buy button! if you this, people will not trust you or know you enough. This is what you do to remove resistance from buying.
First, deliver upfront. Deliver so much value that there is no resistance when it comes to introducing the offer. Have a system in place to give so much value to your community. Focus on giving away so much of your best work for free. By doing this you:
This is where you upgrade people to a different level of engagement. You’re at the core of the community. People taking advantage of your free offers are on the outside of your community. You can stratify the levels of engagement based on the different program levels you offer. Some examples are:
Tip: Write a book for credibility but don’t build your business around a book – except you have a massive community. Now, this can open doors to you but it won’t make you money from a profitability perspective. It takes a lot of effort to create a book so it is not advisable to package it as your first product. Instead:
Adherence to this 4-part profit model will determine how many people will take you up on your offer. But as long as you’ve got structure and automation in place, you’ll start making money in due timeThere it is. My 4-part profit model. It’s worked well for me so far. I’m sure it would for you.
DJ Sobanjo is a leading personal and leadership development expert, author, speaker, coach and consultant. He has been engaging, inspiring and developing people across the world for over 14 years. He started his internet business journey in 2003 and after many false starts went on to build a successful global business online. In 2014 he started Profit From Coaching to help other coaches, speakers and trainers build a profitable business around their passion of helping others.