Something Even Better

Pre-SEB: The truth about consistent coaching income

July 05, 2021 Stacie Mitchell Season 2 Episode 7
Something Even Better
Pre-SEB: The truth about consistent coaching income
Show Notes Transcript

I used to think creating $2k a month in my coaching business was impossible. In today’s episode, I get fully transparent about what consistent coaching income looks like, the snowball effect, and what growth can look like in your coaching business.

Listen in as I talk about the shift from “I have to try” to “I know I can do this” when creating consistent coaching income.

Ready to be seen as the expert and charge more for your coaching? Give me just one hour and I’ll teach you how to create a coaching program that your dream clients REALLY want AND how to write a kick-butt sales page for it. Sign up for the training here!: https://bit.ly/freeTCC 

Stacie Mitchell:

What's the biggest secret behind a successful life coach consistency. Welcome to the consistent coach podcast. I'm your host, Stacy Mitchell and I help coaches simplify their businesses and their marketing so they can easily stay consistent, get clients and grow their income, using the power of routine, habit building, and neuroplasticity because you don't need to do and be all the things to be successful. You just need to be consistent. Hello and welcome back to the consistent coach podcast. I am super happy to be talking to you about something that I think so many people love hearing about, which is money. I think it scares so many of us in many ways to talk about income. It does for me too, but I will say that showing up and talking about how much money I've made in my business has really helped so many people out there. And it is really the only reason I show up and talk about this because I think it is so important to give examples of what's possible. But before we get into creating consistent coaching income and the snowball effect, I want to talk about my brand new free training that is going to blow your minds. So I decided I created this really amazing module, for Simple Success Collective, and it's to help you create your signature, offer your signature program. I take you through all the steps to create your own signature coaching program. And this is a paid for training. This is available in my mastermind, but I decided, you know what? I really want to share this. I want to share it for free. I want people to be able to reap the benefits of this because when you create your own signature coaching program, you can charge more for your coaching. You become the expert and the authority, and using this approach, you deliver transformational results for your clients, and you can do this and it's free. And in just a few hours with this free video training and with the workbook that is included, you'll know exactly what to do. So I am giving away this paid content that honestly, I think is worth hundreds of dollars for free. You can find it at Bitly that's bit dot L Y slash free T C C. There's also a link in the show notes. If you're lazy like me and you just want to click a button. So if you're interested in creating your own signature program, this is for you. I would love if you decide to download it and work through the program, if you would send me a message , uh, take a screenshot on Instagram, show yourself, watching the video on Instagram. Tell me what happens. I want see that program when you're done. So please share it with me. All right. So let's get started today. We're going to talk about creating consistent income in your coaching business. It's sort of the truth about consistent income in your coaching business. I think this is really important because I will just be really, really honest with you. I remember hopping on a coaching call with someone who I will not name a , that I wanted to work with one-on-one and she was telling me that, oh yeah, like absolutely. My goal back then was to make $2,000 a month in my coaching business. And her response was like, that is so easy. Right. And in many ways, like at that point in time, $2,000 a month felt out of like, I just didn't know where that was going to come from. I'm just being honest with you now so that you can get this grasp of knowing that if that's the place that you're in, I was there too. I was there when I just had no idea how I would ever make enough money to support myself and my family and all of the things that I want for my life, through my coaching business. I just didn't know how I would make it happen. So I'm going to tell you sort of the progression of my income, because I want you to see that if I had given up, if I had given up on showing up consistently, if I had just decided it's not working and thrown in the towel, I would have missed out on so much opportunity because to me when I'm sharing these numbers with you, it's not about the numbers so much as the potential and about me consistently deciding to show up and consistently deciding to create and provide value and believe that it was working that created these results for myself. So let's get into it. Some of you have seen these numbers before, or seen me talk about this before in my email newsletter, which by the way, if you're not on that newsletter, go ahead and click on the free training, regardless of whether you really want it and sign up for the newsletter because I am my most vulnerable self, my most authentic self in that newsletter. That is my sort of little community of people that I just feel like I can show up with and be really vulnerable with . I love writing my emails. So get on, on that email list if you want. Okay. So I'm just going to go ahead and tell you what my 2019 income was and just rip off the bandaid . So the number for my 2019 coaching income was 1536 that's $1,536. Yeah, that was so I , I just want to be really, really honest and frank with all of you, I did not start really searching for coaching clients until the fall of 2019. So do keep that in mind, I'd had a coaching business all of 2019, but I really wasn't showing up for that business. So I started to show back up in August, September of 2019, I started to sign some clients and I signed them at very low rates , uh , because I wanted that experience. And because I just wasn't confident selling to be really honest. Like I was not ready to show up and sell a $1,500 coaching package. Just being frank with you, if you feel ready to do that, do it. I was not in a place where I could have confidently shown up and done that. So I had a few clients. That's what it ended up being was 1536. And honestly, I felt pretty good about that because I never made that much money before. And I think prior to that, my total coaching income had been like under $200. So that gives you a little comparison. Okay. 2020 income . So this is really where I started to get super serious about my business. I was, I was all in, I was like, I am ready to make this happen. I am ready to see my goals happen and I'm going to make it happen. Right. There was really nothing that could have slowed me down. And this really came back to my decision, my commitment, my mindset, and this is where everything changed. So in 2020, I always like to give this comparison because it still blows my own mind. But in January I made $107 in 2020. And then in December of the same year, I made over $6,000. I really, truly in 2020, went all in. And that does not mean that I was working myself into burnout. What it meant was I was consistently questioning my thoughts consistently, questioning my mindset and my belief and my trust. If you , um, remember that . So don't trust last week, I was constantly working on that trust that my consistency was working. So how did I go from 107 toto $6k, I mean really? And truly that was it. I just kept showing up. I kept following what was working. I kept evaluating and I was consistently being coached and self-coaching myself. So my total income in 2020 was a little over $20,000, but I do also want to say, and I still have my mind as well by this too. I spent $18,000 in my business, like investing in coaching in programs, in systems, in website, whatever it may be. I spent quite a bit of money in 2020 getting it where I wanted , wanted it to be getting to a different level. And I was able to that because I had built that self trust in myself. And because I knew that I was not going to give up prior to 2020, see , there was, I'm trying to, I think of the right word for it, but it was almost the sense of, well, if it works out great, but if it doesn't work out yeah . But in 2020, we're really in late 2019, I had this moment where I was ready to go all in. And I'm trying to think of the exact phrase that , uh, I had an, a client session with someone recently, but it was sort of, it's sort of this, this question or this feeling of this is what it is. I just, I just pinpointed it. I have to try, I have to see if this will work. And then it shifted from that to, I know I can make this work. So if you're in, in this place where you're not quite committed yet you need to make that commitment. And that decision first, sometimes it's going to, to start with, I just have to try and then hopefully it will transition to , I know I can and make this work because that's really where I'm at now in my business, I know I can make this work. That's a great place to be. It takes some time. And that I know I can make this work has made a big impact on my 2021 income. And right now I am averaging $6,000 a month in my coaching business for 2021. And I am on track for my financial planning too, triple what I made in 2020, if not more than that. And these are some of the biggest lessons I've learned growing my income so quickly, and these are really important. And these are things that I think you learn through experience, but it also wants you to learn from me, which is why I'm gonna talk . I want my coaching clients to pay more to work with me for a very good reason. I truly think that people don't talk about this enough, but if you're not charging enough, your clients will not show up in the same way. If there's more skin in the game, they are much more likely to give it their all. I have learned this the hard way a few times. You really want to think about too , especially if you're offering a longer-term coaching program, like is this enough? And this is going to sound a little bit, but is this, this , uh , investment? I don't really want to use the word painful enough, but sort of is this investment enough for them to feel like they are going to keep showing up over time? Are they going to lose the passion for it? Because they didn't put enough skin in the game, if you will, because want clients who are committed, you want clients who are going to show up and if you charge too little, sometimes they just don't. And of course, that very much depends on the person, what too much is or too little is, but it also comes down to how you feel about it as well. So over time, I would just want to say, you also get very good at helping your clients. This in itself is very, very valuable. Your skillset and your expertise grow over time with every client that you work with. And it helps your clients experience transformation faster. That is worth more money because value is money in many, many ways. So I want you to think about this. You have a really big problem. You need to have solved. You want it solved tomorrow. You can pay $10,000 and solve that big problem you're having quickly, like in one or two months, or you can pay $3,000 and have it take a year or more. I want you to really consider that because if it's a big enough problem, you're going to make that investment because it's worth every penny for all the time. You get back, not having to deal with that problem anymore. That's part of why your clients pay you is to get to the result faster, to experience the transformation faster. I also want to say that when you just keep following what you really, really love to do, the person that you love to coach things that you love to coach on without fear about upsetting your audience or your parents, or your partner, or your brother or whoever, magical things happen. I have to say, I know almost for a fact that I could have made my business so much easier for myself. I could have stayed with burnout. I was doing really well in burnout. I was helping so many people have this transformation and I could have made just as much money, if not more, because it's hard to transition and everything else, but I just didn't want it. And there are definitely people out there, business coaches who will tell you that you should have a boring business and on some level, like I totally get and agree with what they're saying, but , um, you don't want a business that you feel about, you also don't want a business that stresses you out all the time, which you think is the, the boring business part, right? You don't want to be chasing new things all the time. Cause that's , that can be really stressful, but you don't want a business that you just feel lukewarm about because that business, the lukewarm business is really hard to show up for every day. And I don't talk about this a lot, but if you remember back in 2019, when I made 1536 in my, I did a little bit of side hustle at that time and I loved it, but I felt really strong imposter syndrome because I hadn't done the thing, right? Like I had not created income. Like I knew how to help people. I knew how to help people solidify their business, but I didn't feel like I knew how to really help them , uh, create consistent income, create consistent clients. Cause I hadn't quite done it myself. And so at that point, that's why I decided to focus on a problem that I'd already solved for myself, which was burnout. And I say all of this because I also want to remind you that you can shift over time and it's totally okay. And it's totally okay to shift to the thing that you love to do and doing that for me while it might've been me back a tiny bit. I also think that's what helped me really grow my income because I was excited to show up for me business. I was excited to show up for my clients. I'm like excited to record this podcast. I'm excited to create content. All of it is really something that I look forward to doing because I love working with my people . And you know, I said before that I'm in this place now that I know that I can make this work, I know that I can make this business work. And right now I'm in a place where I just to have this trust that hitting $10,000 months is possible. And I'm going to get back to this idea of not knowing how right. I don't know how I have some ideas, but I guarantee you things will turn out differently than I think they will because they always do. But that doesn't take away from the fact that I know that I can make it happen. And the reason that I want to hit $10,000 a month, cause some of you I'd be like, whoa, why, why do you need that? And it's because I want the ability to help more people to be more accepted . And the way that I do that is I charge enough to essentially pay me for the free content. This is important because I can't show up well and create really amazing value for all of you. If I am not thriving in my life, if I'm not getting paid enough, it also allows me to hire a or people. It allows me to be generous. It allows me to, it give causes that I love and give back to the community. This is why it's important. So you have to trust in the beginning that it's all going to come together and just remember my original goal. And at the end of 2019, early 2020 was to make $2,000 a month consistent. Certainly . And I thought it was impossible. I really, it was impossible. And I just want to show up with you today to say it might take time to get to the income goal that you're trying to reach, but there is a snowball effect at play. It's sort of like the investment, right? So you're putting in the investment of your time and energy and it doesn't always go up , uh , give back right away. Right? You don't always see the return on that investment immediately, but it's like you're planting seeds and those seeds are starting to grow and they grow with just a little bit of water right each month. And then slowly you turn around and you're like, wow, I have exceeded two K and now it's six K. And now it's seven K. And if you remember, I had a $9K month, which still my mind is like, whoa, I think it's so important to just keep yourself open to the possibility that even though right now in this moment, maybe you are very far away from your goal. It does not mean that it's going to take you forever and ever to get there. And it could happen at any moment and snowball from there because really truly that's what happened in my business. It started to snowball and I think it came really and truly from the belief of what I was offering to people in the value, the belief in the transformation, the belief in what my clients get out of working for me grew, it's so important. It comes from mindset. It comes from belief. Always. It didn't come from action because if I'm showing up every day trying to sell a program and I'm feeling a little and I'm like, nobody's, I don't know what I'm talking about. I can't help people. It's going to be real, real hard to grow my income that way. So this goes back to that consistent mindset. I want you to start thinking about who the person is that makes the income that you're hoping to make. How does this person show up? What did they believe about themselves and about their coaching and how can you start to practice those beliefs every single day? I hope this was helpful. I hope this opened your mind to the possibility that your income goals are not as far away as you think they are, that you could triple your income in a matter of a few months and just practicing consistent mindset so that you stay consistent in your business. All right. Beautiful friends. If you love this podcast, take a screenshot while you're listening on your phone, share it to Instagram and tag me at Stacey Mitchell. I love it. Love it. Love it. I can't wait to hear from you and don't forget to go download my freebie. I'll put a link to it in the show notes and I can't wait to see you next week. If you like this podcast hop on over to iTunes and give it a rating and review. I read every review and love hearing from my listeners until next time, get clear, get consistent, get clients.