Ladies, are you okay with your business never getting past $50k in gross revenue? How about $29k? I didn’t think so.
But according to May 17, 2012 issue of Forbes Magazine, “Women-owned businesses represent nearly 50% of privately held companies in the U.S., however, three quarters of these businesses are not able to grow their businesses past $50,000 in annual gross revenue.”
The latest International Coach Federation global survey report reveals that the median income for coaches is a mere $29,000. It’s a lot worse for those with less than 10 years of experience. And guess who makes up 75% of the coach population in North America…You got it. Women.
This is a big problem, ladies! It’s pretty tough to make ends meet or provide for basic family needs on that kind of income.
I was in the same boat not that long ago, too. I had a fledgling coaching practice following the traditional coaching model (that clearly didn’t work to create wealth), I didn’t know anything about marketing, and I absolutely undercharged. The crux was that I was shooting in the dark trying to figure things out on my own and definitely not hitting the bull’s eye.
Investing in great mentors and coaches was the best decision I ever made. With their step-by-step guidance, I figured out how to break out of my paradigm and create programs and services that feed both my soul and the lifestyle I want. And I get to help a lot more people in the process, too.
I want to help you break free from that income ceiling whether its $29K, $50K, $75K or more and start making the kind of income that reflects the true value of the service you offer and provides the lifestyle you absolutely deserve.
Here are the 3 Proven Keys to Break Your Income Ceiling fast!
Key #1: DECIDE to make great money
Seem like a no brainer? It’s not. I often see women make the mistake of going into business without deciding to make great money. The reason this is a problem is because without a clear decision to make a specific amount of money, there is no measurement of progress and nothing to pull you forward.
Making great money is no accident. Every successful business person I know decided to make big money doing what they loved. I’ve seen women go from $20k a year to $100k in six months or less when they make the decision, have the help of a coach and do what it takes to make it happen, so don’t set your sights too low.
Key #2: Sell RESULTS, not time!
If you sell your services at a price per hour, you will stay in struggle mode and hit an income ceiling no matter how much you charge by the hour. It places value on your time instead of the unique brilliance and transformation you provide.
Instead, sell the value of results you help people get. This is a big shift in the way you package and present your offers. Your offers should be designed to solve a specific problem and lead to a specific outcome (one of the reasons why knowing your niche is essential). That potential outcome is what determines the investment to work with you, not how much time you work.
Here’s one simple exercise I use with my clients to get you started. List 30 or more results your clients get from working with you. Be thorough! This is what will shift for you. By changing your focus to what actually happens for your clients, you’ll be able to easily reposition your offers to reflect the true value of the result. This will add a huge boost to your confidence, too.
Key #3: Create HIGH-END programs and packages
This is hands down the fastest way to accelerate your income and create a boost whenever you need one. It is a myth that people won’t invest at a higher level – even during recessions. There’s just too many people successfully doing it, including myself, for it to be true. And without a high-end package it’s extremely difficult to generate the kind of income you really want.
To get started, create a private program that involves a series of sessions with you. Focus your selling points on results and give it a great title that includes juicy outcome language. Clients want you to connect the dots for them so lay your program out in a step-by-step fashion that supports them in getting the result they want.
If you do only these three things, you will see a dramatic uptick in your income almost immediately. But don’t take my word for it. Try it for yourself and see.