2 things I focused on When Scaling an Indie Coaching Brand to 7 Figures
I caught Mike & Anthony in a very interesting place in their lives. They had been operational in their coaching business for about 2 years & were valued in the lower 6 figure range.
They were in that place of wanting to grow, but not having the business chops to know what the next steps were. They did have 2 years of execution under their belt though, that was definitely an asset.
We just want to have a coffee with you and really understand what’s possible with technology.
I didn’t see Mike and Anthony as potential clients at all. These were just 2 guys that had some ideas to scale their already profitable business.
I did, however, agreed to meet for coffee with them. There wouldn’t be much in it for me, but at least I get to help out a few fellow entrepreneurs.
The Background Breakdown
The 2 things that immediately popped out to me about Mike & Anthony’s business was how underpriced their services were.
Mike had a lot of experience as a sponsored professional. He’d competed at the Elite level in 15+ countries around the world.
Even through he hadn’t hit Pro status, Anthony had a similar track record.
They were offering their clients expert level coaching at commodity prices.
Another thing I noticed(and perhaps my favorite of the bunch) was that they were doing this 100% through the internet.
Good job boys.
Now there were just 2 things that they needed to get themselves to the next level.
- Guaranteed Sales at a high price point
- The processes to scale without compromising the value of their deliverables.
There are a million and one things I could have done to optimize their sales processes with technology.
Luckily though, the biggest challenge wasn’t generating demand(Mike had plenty of brand equity from his pro days). The biggest challenge was justifying a higher price point & creating a solid process for serving clients at the highest level.
Enter Exclusive “Clients Only” App
Something simple that could distinguish Mike & Anthony’s business as a big player in the coaching space.
Killing 2 Birds
While we are at it, why not create something that also allows Mike & Anthony’s business to scale with ease.
To execute on this, I needed to productize Mike & Anthony’s business so that they weren’t just charging for their time, they were charging for some very tangible deliverables.
This way they could set their own hours & even replace themselves with people more qualified to work as coaches.
What Really Mattered
Just as a reminder to most of you business owners out there: Applications can do a lot, but they are nothing without strong internal processes.
I’ve use applications primarily to automate processes that exist or should exist within enterprises. Clients come to me with far fetched ideas thinking that applications are magic pills.
Well… they kind of are, But…
Apps aren’t magical pills that make us more money.
They are magical pills that make us the money we were going to make anyway, but faster & at scale.