Hey guys, welcome back to the podcast. I'm really excited about today's episode. So I've been thinking about how I can share more of what I do, kind of hands-on with my private clients with you guys. And I've been thinking about how to systematize this idea, specifically the seven money models for coaches, so that you guys can be making money.
Obviously, I'm saying for coaches, but this could work for any type of solopreneur or person who is a service provider where it's like you working with clients. I think that this episode will probably, if I had to guess, be something that I anticipate people coming to over and over again when you're stuck, when you have forgotten that money is always able to be made.
This comes from a level of consciousness that sees abundance everywhere, that sees opportunities everywhere. Everything that I'm sharing in today's episode, I have personally done or am currently doing. I wanted to say that because this is not something that I just made up hoping to get downloads or anything like that.
This is genuinely what I've done. And so I wanted to share it with you. That being said, let's dive in. So seven money models, the first one that I wrote down is the quick cash injection. I've deployed this myself and I've helped my other clients deploy this when it's like I need to make money this week.
I do not currently do this type of money model because I'm building something a lot bigger. And I wanted to add that caveat because I think quick cash injections are amazing, but it can - not ruin; that's too strong of a word. It can be a quick win, but it doesn't create that long-term recurring revenue.
And I think people, as in our audiences, get tired of these kinds of sales. That being said, when I would use this is I need to make money now or it's been a while since I've signed a client or I haven't talked about an offer in a while. Maybe you've been posting content, building relationships, building your client machine, posting on social media, recording podcasts, but it's been a while since you've created some revenue.
I would use this. Alternatively, if maybe you've been trying to sell like a long-term package or a mastermind and you haven't signed clients, this is a very powerful thing that you can deploy, to create, like I said, a quick cash injection. The thing that makes this work is limited spots, limited time, and a specific outcome.
You can do this for one-on-one or group, but those are the principles. You are going to pick a limited number of spots. This is going to feel counterintuitive. If you are listening to this and you have zero clients, you're gonna be like, but I have infinite spots. It's like, no, no you don't. You are going to limit the spots on purpose because you have a family life.
You have time that you want to spend with loved ones. You have time that you want to work out or go on walks. You have time that you want to produce content or study like we don't have infinite spots available for clients. This is so important. I got this early on, even when I had zero clients, is this is created by you.
This is not manipulation either. This is a sustainability choice. I am choosing to work with less clients than I have capacity for so that I can prioritize other parts of my life and business. This is a concept I got from the book, “The E-Myth Revisited” by Michael Gerber. It's a very good book if you haven't read it.
And he talks about the three roles that small business owners play, which is the entrepreneur, the manager, and the technician. When you are a coach, you are a business owner. You are the manager. And you are the coach for your clients, but that's the technician level. So when I coach clients, that's me working in my business.
You have to have time to work on your business as well like marketing, content creation, honing your craft, getting coached yourself, working with a team if you have one, studying books, taking courses, and being with your family, and taking care of your mental and physical health. Those things are what makes your business sustainable.
And so coaching clients is only part of what you do. Therefore, I hope I made the case, limit your spots that you have. When you're doing a quick cash injection, an important piece is you want it to be quick. You have to give people a reason to buy now, and so you are going to limit the spots.
I also recommend limiting the time that the offer is available for it. Remember, this is to get money quickly. This isn't the most saintly offer. This isn't you like building this mega business. This is for you to get cash coming in the door quickly.
That is the intention of this offer. So limited spots, a limited time. Maybe you make it available to purchase for the next week. Maybe you make it available to purchase in the next two days. I've done both, but the idea is this offer is disappearing. Specific outcome. So the example that I'm going to think of, I actually did not charge for this, but could have.
So a few years ago I did an offer called “The Level 10 Opportunity Call” where I said, if you are a coach where you feel like you have a level 10 skillset, but you aren't making the money or signing clients that you want, my guess is you've chosen a not level 10 opportunity.
So I opened up ten 30-minute sessions to be booked within the week for coaches who wanted to talk to me about matching their level 10 skillset with a level 10 opportunity. A level 10 offer, a level 10 price, and a level 10 client. I sold out those spots. Like I said, it was free, so I could have charged for it.
I didn't because I was up to something at the time, but the principle remains true for this very specific outcome. It was like aligning level 10 opportunity with your level 10 skill set. That being said, you could do this if you're a relationship coach. A specific outcome might be a relationship reset.
A specific outcome for a parenting coach might be like work on your most difficult child and by the time we're done, you will have a completely different perspective and feel a hundred percent better, and have tools with your kid to have better communication. If you are a business coach, I would tie that to either creating more clients or earning more money.
If you are a fitness coach, it could be like set your macros. It could be let's build a workout blueprint for you. It could be - like I'm trying to think of something that they could figure out on one single call - let's set up an easy, sustainable three workouts per week model for you. Something very specific.
So when you have all these three things combined: limited spots, limited time to make the decision, and a specific outcome. I also think, for the price point, make it something that feels like a yes to you and that your clients could purchase today. As an example, I have a very high ticket one-on-one package that I know it takes people days and sometimes weeks to really fully decide to work with me.
This cash injection is not that. If you need to make money today, you're not going to sell something worth thousands of dollars to someone you haven't talked to. Who I'm thinking of for a quick cash injection is someone who's followed me on my email list. They've listened to my podcast. They've been following me on social media.
They haven't necessarily talked to me about working together, but this is going to help push them over the edge. So I think it works best in the hundreds of dollars. That is not a rule, but I think that's what would work best here. 99 dollars. 199 dollars. 97 dollars. 297 dollars. Pick what feels good to you. Pick something that you can confidently deliver on because this is what is possible. If you haven't made money in months, listen up, okay? If you're going to do a quick cash injection sale and you need to make money, and you sell like a 30 or a 45-minute or a 60-minute call for 97 dollars, and you make a big, bold, specific outcome available and you limit the times, you could fill 10 spots and make almost 1,000 dollars this week.
That for me at the beginning of my business, was life-changing. Completely life-changing. And so now, like I said, I do different things and we're going to talk about the different money models, but I wanted to share this first because I know my listeners and a lot of you guys are not making money.
I did this in the beginning of my business to, one, get experience, but also to make money. And now I hear you, you're going to ask this question because this is the question that I get: Well, how does this fit in with my like free consultation or like a free experience? It is different. You have to see them as different offers. That's why, I think, thinking about a specific outcome that they're going to get, they're going to walk away with something from this call. And that's what makes it different than a consult or a free coaching experience. A free coaching experience is like, “Let me help you solve a problem,” “Let me talk about what it looks like to work together,” but not in this quick cash injection call.
This kind of call is a very specific thing. I shared some examples like a relationship reset call, a level 10 opportunity call, a marketing intensive where we plan out the rest of your marketing for the year, a double your income call, a rekindle the romance with your spouse call, a fitness blueprint call, a workout blueprint call.
Something very specific where they're walking away with a plan. They're walking away with tangible things that they can immediately apply to their health, to their wealth, to their relationships. Something like that.
Okay. Quick cash injection. That's something that you can always come back to. Now we're going to talk about other I would argue harder things to sell and to market and to make sustainable. This is basically what you typically think of is one-on-one. So what I wrote down for number two in this 7 Money Models is a one-on-one premium menu.
I like to have a menu, which is just a tiered pricing option for one-on-one. So as an example, maybe you have an offer for 5k for a year or 3k for six months. What this does is it gives people an option, technically cheaper, but maybe less time. And I like working with my clients for a year.
So I try to make my year-long containers cheaper per month than they are if they were to work with me for six months. If they work with me for a year. I learned that just by studying pricing. But the idea is, I like to encourage my clients to create a premium one-on-one offer. This is different than a quick cash injection because this is a package or a series of packages.
Maybe you do, six months for 5k or three months for 4k or 3k. Maybe you do 12 months for 12k or six months for 7k. Something like that. And it is a full-blown experience for your client. I am going to recommend the book, “The Prosperous Coach” here. I think he does - well, they, it's written by Steve Chandler and Rich Litvin - do a great job explaining how to create amazing one-on-one client relationships and sell packages.
If you've never sold a package, I recommend moving to a package model. This is where you can create a lot of sustainability and predictability in your revenue and your income. I like the tiered model too, because it lets people have autonomy in how they work with you, specifically for one-on-one.
So maybe you have a 3-month package, a 6-month package, and a 12-month package. Maybe you have a 12-week package or a 24-week package. You can play around with the numbers. But my rules of thumb is how can I make this expensive, but more valuable than what they pay?
I was coaching one of my clients in the Matrix, and I was like, you can over-deliver at any price if you know how to create value. I'm going to say that again because I need to hear this too. You can over-deliver at any price point if you know how to create value. What do I mean by that is like, I think a lot of people choose low prices because I can overdeliver on this.
But when you know how to create value, you can over-deliver no matter what you charge. I think about Tony Robbins as an extreme example. He charges like - so the saying goes, I think this is just hearsay, but for the sake of this story. Let's just operate as if this is true.
He charges a million dollars for one-on-one. I guarantee his clients think he over-delivers, whether that's because he connects them to resources and other people and businesses. Whether it's just because he helps them make 10 million dollars extra. Whether it's just being in his presence helps them live a better life.
It doesn't really matter. I guarantee just because of who Tony is, that his clients would say he over-delivers at a million dollars. And so that's good for me to remember. It's good for all of us to remember that you can over-deliver. I think that feels like generosity. That's a value of mine. It's probably a value of yours, that you like to feel generous with your clients, but you can feel generous with your clients with high ticket pricing. That being said, I know that high ticket pricing isn't for everyone at this point in their journey. I think it is something to strive for as a single-person business if you are working for yourself. Because I want you to make money. I'm going to recommend the book, “100 Million Dollar Offer” by Alex Hormozi, here as well.
He paints the picture of the vicious versus the virtuous cycle of price. When you can, choose premium prices. I think it does you a service. I think it does your clients a service. I think it allows you to have time freedom. I think it allows you to pour into your clients more than you can if you don't charge premium prices, and so I really want to make the case to at least consider it.
Don't just dismiss it. Study it, learn about it, learn how you can be generous and over-deliver at whatever price you choose. So that's number two, create a premium one-on-one menu. I think one of the things that has made me successful is that I've created a premium menu for basically everything that I've done. Because it allows me to pour into my clients at a very high level and it gives me freedom because I'm not always trying to create clients because I have clients that pay me premium prices, and I deliver like crazy for them. It gives me room to innovate, to create, to think, to enjoy my life, to invest back into my business in the form of software, design, support.
And so I think it's useful to think, “How can I charge premium for this?” and create the tiered offers so that you're not like only selling the most expensive thing. Have a menu. Okay. That's number two. Number three, small group, short-term offers. So this could look like a small group coaching program for 4 weeks, a small mastermind for 12 weeks, a small group coaching program for 12 weeks. I had a coach who did a 3-day group Voxer event. So it can be that short or it could be 12 weeks. The idea is like a powerful group experience that's obviously gonna be cheaper than one-on-one. And depending on your niche, you can choose a hundred dollars or 5,000 dollars. I know people that do 10,000 dollars, 20,000 dollars for small groups.
I'm not going to go into that on this episode, but the idea is a price that you can get behind for a small group and it's short-term. And I'm distinguishing that because the next money model that I'm going to share is the small to midsize group for long term. So when I think of short-term, I'm thinking 4 to 12 weeks is what came to mind, but you could also do a series of days. Because the point of the money models is to create some sort of recurring revenue where people are continuously paying you. The quick cash injection isn't recurring, and so that's why I put it first.
Cause it's like, this is something that you're going to get money now, but not necessarily something that keeps creating money for you. The small group, you might have if you do it like a 12-week group program, you could do a monthly payment, 3 monthly payments of 100 dollars. And so it's something to try. If it resonates, think about it, innovate, create, try it. The fourth one I mentioned was the small or midsize group long-term. And this is what the Matrix is for me. The matrix is a midsize group. I have 25 clients in there, and it's long term; it's 12 months. This model is not for everyone, and I recognize that.
I have a client that does 99 dollars a month for 6 months, and it's working great, and she has plans to grow it. And so I don't think there's a right or a wrong. It's just how can you play with this to make it your own. The next money model is a membership where people pay monthly.
People who have done this off the top of my head, these are very massive memberships, but you'll get the idea. Brooke Castillo with “Get Coached” or “Self-Coaching Scholars.” Jody Moore with “Be Bold.” I think she turned that into “The Lab.” Netflix is a subscription model membership, where you pay to get access. Other coaching like monthly ideas, you can do this low ticket, mid ticket, or high ticket. Russell Brunson runs a program that he calls “Two Comma Club” and it's 25,000 dollars for the year, but it's a membership. You pay to get access. You pay to be a part of the community. You pay monthly, usually. You can also include an annual rate. Doesn't really matter. The idea is people are paying for access and there's usually more content than coaching.
There's usually coaching involved as well, and you can even go research the memberships that I mentioned and you'll see like there's a community, there's content, you can get coached live, you can ask questions. I think a lot of people like this. I also had a client that turned her one-on-one into a membership.
She charged people per month. It's like, if you want one-on-one coaching, it's 500 dollars, and if you want to renew it's 500 dollars next month. I don't personally do that, but you could. The idea in my mind, when I think of membership, I think of a monthly recurring revenue setup. And so you could play with that idea.
Number six money model is alternative support. So this is something that I think you could play with as well. And the two platforms that I immediately thought of were Voxer and Marco Polo as in messaging apps, so that you can contact your clients and they can contact you between calls or without calls.
I follow someone who offers Voxer-only coaching. I don't do that, but you can. I actually offer 30 days of Voxer as a bonus for people. Like a quick action bonus. Some of you are listening to this like, yeah, you did that for The Matrix. It's like, yes I did. So I said, if you join The Matrix in the next 48 hours, you get 30 days of Voxer access to me.
Voxer is just a voice messaging app. Marco Polo is video and voice. And it's just a thing that you can experiment with. Especially if people, maybe they're busy, maybe they want just to work on a project ongoing it's not super pressing, or they just want to be able to pick your brain. You could do Voxer for two days. I had a client do that. She did a Voxer event - well she didn't call it an event, like an intensive.
Basically, you had 48 hours of Voxer with her and she charged for it. You could do a month of Voxer. I like to add Voxer to my one-on-one premium offer. So for my one-on-one clients, they get either weekly or bi-weekly calls with me every month and they get Voxer access to ask me questions, to brainstorm, for me to be their soundboard, to process, to get coaching, to share their ideas, to get my feedback, etc.
You could also make that a standalone offer. And so I wanted to mention it. Alternative support, Voxer, Marco Polo, some people have used WhatsApp, texting, email support. There's different ways, but you can be creative with how your clients can access you beyond a physical phone call or Zoom call.
That's number six. Number seven is a hybrid. So I experimented with this with what I called The Miracle Mind, which was like a mastermind one-on-one hybrid, and I really liked it. We met as a group with five coaches and they also got a one-on-one call with me every month. That worked really well.
And so you could play around with a group plus one-on-one hybrid for yourself if you like that. And so those are the seven money models that I want to talk about. So just to recap, number one, we talked about the quick cash injection, limited spots, limited time, and specific outcome. You could do that as a one-on-one offer or a group offer.
I think you could experiment doing like a round table or a single group call, things like that, or like I mentioned, the Voxer. You could do that with Voxer as well. A quick cash injection, limited spots, limited time, specific outcome in Voxer. Number two is a one-on-one premium menu. This is like, I think the bread and butter of most coaches.
Especially in the beginning of business is just filling your one-on-one. I like having a premium menu so that people can choose which tier feels the best to them. Number three, small group, short term. So you're selling a group coaching experience or a mastermind for a short term.
I qualify this as 4 to 12 weeks, but it can be shorter. It can be longer. There are no rules. This is just a guide. Number five, a small to midsize group, long term. So like 6 to 12 months is what I define as long term. A membership, which I would say is a very large group because most memberships go for volume. So if you have a membership for 49 dollars, you need more volume to make more money than you do for a one-on-one premium offer. This is why I think you'll get where I'm going with this. It's like, I recommend having a combination of all of these seven ideas in your business, so you can have money flowing in from lots of different places, but we'll talk about that in a second.
So the membership, number five. Membership where people pay monthly, you're going for usually high volume, you're going for content, community, and some coaching. You can lock people in for six months. You can do month-to-month. It doesn't really matter, but you have models of this everywhere.
Number six is alternative support. It's like Voxer, Marco Polo, WhatsApp. Something like that where it's beyond a coaching call and it's not content. They do have interaction with you. That's why Voxer is different than membership and Voxer is different than small group program. You can do group Voxer, group Marco Polo or you can do one-on-one Voxer or one-on-one Marco Polo. And number seven is hybrid group plus one-on-one.
I mentioned my miracle mind as an example, so I would meet with my clients, and then we would meet together as a group twice a month and we had a group Voxer as part of that offer. And so you can see that you can mix and match. You can combine these ideas. You can also create what you probably have heard called an offer suite.
In my business, I have a one-on-one premium menu and I have a small, long-term group with something in the works. I can't say too much right now, but I'm working behind the scenes to create another one of these things right now, that we mentioned on this call, a different money model.
Just pay attention. I can't say too much cause I'm still working on the details, but I would love for you to pay attention. The other things that I did not mention that you might be like, “Why didn't you talk about this?” is like a course, and I've had courses. I don't think courses are bad.
I didn't mention this because I think that is an advanced idea. Not that you guys aren’t advanced, but I think for coaches specifically we don't think of ourselves as like, I'm going to be a course creator. I think a course can play a role. As an example, in the Matrix, I have a series of courses, but that is not the primary goal drive for people joining the Matrix.
People join the matrix as a live program so they can ask me questions and get my support. And so I think there's this evolution in the industry where people are kind of done with dry stagnant content where it's like self-study. And if you have a course, don't listen to this like, “Oh no, like I'm going to die,” or like, “I'm doing something wrong.”
That's not my intention. But I think the community and the live support through coaching, Q and A's, DM messaging, Voxer, or something, is the way to stand out. And I think it's a way for you to create a real revenue stream right now. One of the things that I don't like about courses is, for a lot of people, they try to build it before they sell it.
And I've always been interested in this, like, how can we get paid today and deliver the support after they've said yes? As a bootstrapping entrepreneur, where you are trying to make money every month, especially in the beginning, I think we have to be more creative than, “How do I build something and then get paid for it?”
That means that you're working without making money. All the models that I shared today like you can sell up front and then deliver it over the course of the program. Some of these you're going to get paid monthly for as you deliver it. And so I think this is a more useful way of thinking about getting paid as a coach or a solopreneur or a designer or a service provider.
Doesn't matter even though I called out coaches. This can work for lots of different business models. I hope this was helpful to you. Try out one, or if you are doing these things and it hasn't been working, try a quick cash injection just to make some money.
The things that make this work are great marketing, great value, great copywriting, and relationships. I would say that's like a still stack that you can develop over time so that you can articulate what you do. So that you can explain the value of what you do so that people believe you when you share the outcomes that you help people create.
The last thing I'll share is the four P's of an offer. So for all seven of these money models, make sure that you know the person it is for, the price that you are charging, the promise that you're delivering it. So like, what is the outcome of them joining it? And the process. So the process looks like what's included and for how long?
Do we work together for six months? Do we have a weekly call? Do I have support? Do I have a vault of content? Can I call you? Can I email you? Can I DM you? Can I Voxer you? That is the promise. So all of these seven money models need those four things: person, you're calling out the type of person that you want in this program. The price of it. The promise, the big outcome, the big takeaway that they're going to get from joining.
And then the process, what is included? Those four P's make all these seven money models work. I hope this was helpful for you. I hope this helps you build your client machine, your cash flow machine.
And I will talk to you in another episode. Bye.
