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.
Part 1: Define your community
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:Â 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.
But remember:
- If you have the first two without the bottom one it is a hobby.
- If you’re doing something you’re good a but not passionate about you all get burnt out. it will take a lot out of you.
- If you’re passionate about it, there is money but you’re not good at it. People will realize you’re all sizzle without substance.
Part 2:Â Attract/Grow your community
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?
- Create magnets: create them and position them where your target market tends to hangout knowing that you will keep attracting them to the magnet.
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.
[feature_box style=”18″ title=”Packaging%20And%20Positioning%20For%20Maximum%20Profits” alignment=”center”]
Get My FREE Audio That Shares A Simple 10 Minute Tweak That Eliminates Freebie Seekers And Attracts Serious Minded Clients Eager To Pay What You’re Really WorthClick Here To Get Your FREE Copy[/feature_box]
Part 3: Serve your Community
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:
- Establish credibility: They trust and believe you.
- Establish authority: They believe you more than anyone…so much that you’re seen as the expert.
- Establish like-ability: They like you and would speak well of you to others.
Part 4: Upgrade your community…Consistently!
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:
- Books (Low Impact)
- Audio/video programs (Low to medium impact)
- Home study programs (Medium impact)
- Seminars and Retreats (High impact)
- 1-on-1 Coaching (Highest impact)
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:
- Run a one day seminar and package it as a video product and sell it. It’s a lot more easier to upgrade your community by getting them to buy $200 product than telling them to buy $20 dollar product…when you’re doing the same amount of work for both.
- However, don’t dive straight into $1000 seminars and retreats. if you don’t have  solid market place credibility, it will be hard to land a sale. Go from a middle ticket product which becomes your core. Then you can then expand up or down and move people from free to paid.
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.
Go ahead and share your thoughts below.
[social_sharing style=”style-11″ fb_like_url=”https://profitfromcoaching.com/the-4-part-profit-model-for-coaches-speakers-trainers-2/” fb_color=”light” fb_lang=”en_GB” fb_text=”recommend” fb_button_text=”Share” tw_lang=”en” tw_url=”https://profitfromcoaching.com/the-4-part-profit-model-for-coaches-speakers-trainers-2/” tw_name=”djsobanjo” tw_button_text=”Share” g_url=”https://profitfromcoaching.com/the-4-part-profit-model-for-coaches-speakers-trainers-2/” g_lang=”en-GB” g_button_text=”Share” alignment=”center”]
DJ as someone who is in your community only a short while, I can say you are amazing at what you do . I can testify to the fact that the points given in the blog are not just something written on paper , they are tried and proven points I have been implemented myself as instructed by you . The results are really tangible. Continue to inspire and grow others around you.
I appreciate you.
Ava Brown
Thanks Ava. I’m excited to see that things are working for you. Keep up the good work. There’s a lot to look forward to.
In the short time that I have known you, the insights you have shared on the 4 Part profit module are invaluable and I am applying the principles to my business and seeing an immediate difference. Your openness and willing to share is phenomenal and the advice really does make sense. I would encourage anyone who wants to take their coaching, speakers or trainer business to the next level to get in touch with
Deji ‘DJ’ Sobanjo. He comes highly recommended.
Deji thanks so much for sharing this important advice for new coaches. When not specific in defining community I find I can go from pillar to post and the real beneficiaries are missing out. I also take heed from your point of service to your community as you are leading by example in helping us in your free webinars and media you distribute. Great coaching, thanks Dj 🙂
DJ thank you for all that you do! You are so on point with everything you share and teach about. I appreciate your passion to help others. I love your 4 part profit model!! It’s helped me so much! Keep doing what you’re doing bc it is definitely working!
Valuable post. Thanks for sharing. It Is a breath of fresh air to see someone who practices what they preach.
Building credibility is key to be successful in business,I have discovered.
I love the sequential wisdom you give us here, DJ. I really liked the 3 parts in number 3 too: credibility, authority, and like-ability. Right on target.
Really like the simplicity and progression of the steps plus the discussion of how to engaged and upgrade engagement. Thank you!
These are very simple steps to digest. I particularly like “Serve your community” – this is crucial but few people practice it, and DJ you do this well. lovely post
Great tips Deji. It’s so important to properly define your community I found that it is a great foundation that makes everything else effective. You need to know and be acquainted with those you are out to serve to serve them well, make an impact and maximise your resources.