Are you thinking of starting a coaching or consulting business?
Or maybe you already have started your coaching or consulting business but you’re struggling to get that very first client?
Or perhaps you have been running your coaching or consulting business for some time now, but there’s no consistency in getting clients?
If you fall into any of the categories above, then I understand exactly how you feel.
Starting a coaching or consulting business can be pretty daunting and stressful, especially when you’re doing it all alone.
When you’re just starting out, it can feel so overwhelming to get your business to work.
There are so many things to do, and you’re not sure what to focus on.
That’s how I felt when I started my first business in the relationship niche.
Not only did I struggle to get clients, I even struggled to get people to know about me.
And I struggled for over a year.
Certain months I would be able to get a number of clients, while other months I couldn’t get even one client.
And throughout that whole time, I was only generating an average of a measly $400 per month and could never make more than $1,000 in any given month.
To make matters worse, that was the only source of income I had to support my family.
Needless to say, there was a lot of stress and anxiety to get my business to work and to generate a consistent income for my family.
Fortunately, I didn’t give up and my breakthrough finally came.
After a year of struggling, I implemented a few changes to my business and I was able to grow my revenue pretty quickly from $400 to over $30,000 per month in just 15 months.
And in this post, I’ll be sharing with you the 6 key elements I implemented in my business that really helped my business grow quickly, and I’m certain will help you grow yours too.
If you want to start a successful coaching or consulting business on your own, then these 6 key elements will help you position yourself as the go-to authority in your niche, get clients consistently, and more importantly, help you build a 6-figure coaching and consulting business.
Key Element 1 – Become A Specialist
The very first core element that you want in your client business, is to become a specialist.
You want to be seen as a specialist, and not a generalist in your business.
Peter Drucker once said:
The aim of marketing is to know and understand your customer so well that the product and service fits him and sells itself.
So, what does being a specialist mean?
Let’s say for example if you have a heart problem, and you want to find a doctor that can help you with this problem, who would you go to?
- The General Practitioner – who knows a few different types of medical conditions but isn’t specialized in dealing with the problems of the heart. This doctor pretty much sees all types of patients.
- The Heart Specialist – who specifically deals only with the issues of the heart. This doctor only sees patients with heart problems and conditions.
If you’re like me and most people, then you definitely want to go to the Heart Specialist.
In fact, you might probably be saying, “Of course the Heart Specialist! That’s so obvious!”
Now, while this might be blatantly obvious, we want to take a moment to really understand why we would choose the Heart Specialist in a heartbeat and not the General Specialist.
And that is because, at the back of your mind, you know that the Heart Specialist will know what to do when it comes to heart-related problems.
Just by the title of “Heart Specialist”, you know for a fact that this person can solve the problems that are related to your heart.
That is exactly how you want to be seen in your business as well.
Because when you are seen as the specialist, you become the person that people want to go to, to solve their problems.
Even if you’re just starting out, you do not necessarily need to have an established reputation or a brand that people already know.
All you need is just a very precise messaging that really targets your ideal clients, so they will know that you are the authority or the expert in your niche.
Here’s what I mean.
Imagine you’re a new mother and you’re looking to join a yoga class to lose weight and strengthen your muscles.
You come across two different yoga classes with different messaging:
Which class would you join?
Chances are that you would go for the “Postnatal Yoga Class” right?
Simply because it speaks specifically to you.
You are a new mother, and you want to join a yoga class that you know is specifically catered to people who have just given birth.
This way, you will be assured in your mind that the exercises and workouts taught in this yoga class are suitable for you.
But for the “Yoga For All” class, you may be worried that some of the exercises and workout may not be suitable for you or may even cause you to injure or hurt yourself.
So when you position your services to show that you understand who your ideal clients are, and you understand their situation and pain they are going through, you will be able to come up with a marketing message that really resonates and speaks to them.
Like what Peter Drucker had said, you have now understood who your ideal clients really are and created a solution specifically for them.
When you do this, your ideal clients will see that your solution clearly fits them.
And because of that, your solution has pretty much sold itself to this group of people.
In the minds of your ideal clients, they have seen you as the specialist that can specifically cater to them and their needs.
You have now established yourself as the authority in their minds.
So this is something you want to implement for your own business as well.
Nowadays, so many people are becoming a generalist in their field.
If you were to ask coaches and consultants who are it that they help, most of the time they will tell you that they can help everyone.
For example, weight loss coaches would say that they can help anybody that wants to lose weight.
If you position your business this way, the problem with that is that you will alienate a lot of people because your messaging is just too broad.
Now, you might ask, “But Davis, what if I can really help many different people?”
I definitely do not doubt that you can help many different people, but what you have to understand is that you need different messaging for the different groups of people that you can help.
So going back to the example of the yoga teacher, she could have a different class to cater to different groups of people.
In addition to the “Postnatal Yoga Class,” she could have a “Hot Yoga Class for Busy Professionals”, or a yoga class that is specifically catered to men.
This way, you are able to really target different people with different pain points instead of classifying them under “Yoga Class For All”.
It is very important for you to be seen as the specialist in your coaching and consulting business because when you position yourself as a specialist, immediately you will be seen as the expert and as the authority in your market.
Your ideal clients will see you as the person that can solve their problems, and there will be no fight with all the other businesses who are positioning themselves as the one-size-fits-all solution.
So if there are three different types of ideal clients that you can serve and help, then you want to have a different messaging for each of them that will speak specifically to their pains and struggles.
If you’re just starting out, I suggest to just hone in on one ideal client you can serve first, and then build your business around that particular group of people.
Only later on when you start to grow your business, you can start to cater to the other groups of people that you can help.
Key Element 2: Build Your Email List
If you want to be successful in your coaching and consulting business, then you must build an email list.
An email list is basically the contact details of your potential clients, namely their email addresses.
One of the problems that many coaches and consultants face is that they are still doing things the old-fashioned way.
They go to networking events, hand out their name cards, ask for referrals, and at the end of the day maybe get a handful of leads, but that’s about it.
If you want to build a business that doesn’t rely on manual outreach or waiting for people to get back to you, then you need to build an email list.
Building an email list allows you to reach out to your potential clients easily through what is called an autoresponder.
If you are new to building your business online, then an autoresponder is basically an online service that allows you to collect email addresses from potential clients, and then send them a follow-up email sequence to eventually get them to become paying clients.
And this is all done automatically.
That means you do not have to manually talk to anyone to get their email addresses.
Your potential clients will reach out to you, and give you their email address in exchange for content created by you.
Imagine getting leads coming to you consistently every month without you having to do any manual outreaching or networking.
And imagine these leads automatically scheduling a call with you after receiving a couple of emails from you telling them about how you can help them.
This way, all you have to do is focus on actually coaching your clients instead of having to spend time to do all the networking and manual outreach, which many people hate.
Building an email list is the fastest way to building a thriving coaching and consulting business, and if you haven’t started building your email list, then you need to get started on it right away.
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Key Element 3: Experiment & Get Feedback
Many people, when they start their coaching & consulting business, give up too easily when they fail to get clients on their first few attempts.
The reality of building a business is that it will probably take a number of tries before you manage to get your marketing messages right or get your sales funnel pieced out correctly.
That means you will have many failed attempts at first.
So instead of seeing your failed attempts as your personal failures, see it as an experiment.
When Thomas Edison tried 10,000 times to get the light bulb to work but didn’t, he didn’t say he failed, but instead, he said that he “found 10,000 ways that didn’t work”.
And this mindset eventually led him to invent the light bulb in the end.
That is the same mindset you want to have.
When I first started, as with anyone else, I was struggling to get clients consistently.
I never made more than $1,000 in any given month for over a year.
But I understood the fact that building a business is a process, and that as long as I learn from my mistake each time, I will get better.
Now, you might be asking, “I get it. I have to learn from my mistakes, but Davis, how do you exactly learn from your mistake? How do I even know what went wrong in the first place?”
The answer: By getting feedback from your audience.
When I wasn’t getting clients, I was at first lost on what to do.
I had no idea what I should be improving or what I should be changing in my marketing messages.
Then I realized that instead of relying on my own smarts, why not just ask my audience why they aren’t buying!
As simple as this sounds, not many people are actually doing that.
But this is the simplest path to creating a compelling message that resonates with my audience – and that is by using the language of your market.
And that is how you write good copy!
You will be amazed at what your audience will tell you when you simply ask.
When I simply asked my audience why they didn’t buy and what was holding them back from joining my coaching program, I was able to get so many insights I would have never gotten if I never asked them.
They told me how they felt, what they thought, all their concerns and their objections.
With those insights, I was able to see why my marketing messages had not resonated with them!
I was able to know what my audience was looking for, and I could change my marketing messages to fit my audience.
When that happened, I started to get more clients!
And that is exactly what you want to do in your own coaching and consulting business as well.
Key Element 4: Monthly Recurring Revenue
If you want to be able to get consistent revenue, you need to generate Monthly Recurring Revenue.
Monthly Recurring Revenue is the holy grail to getting consistent income every single month.
One of the reasons I struggled to get consistent income when I started was because I wasn’t charging on a monthly basis.
But when I started to charge a monthly recurring fee, my revenue started to increase very steadily.
Many coaches and consultants are still charging on a “session” basis.
That means they per session, and each session is based on a number of hours.
The problem with that model is that there is no continuity.
If your client wants to continue with you, they will have to go through the process of making the payment or giving you their credit card details again.
Psychologically, there’s something very uneasy about that.
But if you were to charge a monthly recurring fee, all your clients have to do is make payment once, and you will automatically get paid each month your client stays on with you.
I’ve had clients that stayed on with me for years and that has resulted in a very nice and consistent stream of revenue for my business.
How would that feel if you had clients that stayed on for years with you and paying you consistently every month?
That’s certainly possible because as long as you’re constantly providing value to your clients and helping them, they will want to stay on for a long time!
So, if you want consistent income every single month, then you want to start charging a monthly recurring fee and start getting Monthly Recurring Revenue.
Key Element 5: A Systematic Process To Get Clients
Many coaches and consultants do not actually have a systematic process to turn leads into clients.
Their process to get clients is very much “random”.
For example, they might go to networking events today to hand out business cards, then try a little of social media marketing tomorrow, then try to ask for referrals the day after.
But they don’t have an actual process of attracting people to their business and converting them into premium paying clients.
In fact, most of the time, they will just do business with anyone who is willing to pay them.
This is the worst kind of situation to be in.
Because you know you need the money to help with paying off your mortgage, loans or bills, but you might end up with clients who aren’t a perfect fit for you and end up draining your time and energy.
And if you find yourself having to “convince” people to work with you, or having to explain in detail what it is you can help them with, then it means that you’re doing things wrong in your business and you need to have a system that eliminates these problems.
Having a good system in place in your business helps you do 3 very important things for you:
1) It will automatically help you build rapport, trust, and likability in your prospect’s minds towards you so they will get excited about what you can help them with.
2) Let you filter out the most qualified prospects who are the best fit for you and have the ability and willingness to pay you for your help
3) Ensure that you only talk with people who have the highest chance of becoming a premium paying client (by the time they actually speak with you, they already know what you can do and are ready to pay you to help them.)
Basically, with a good system in place, it will flip things around in your business – no longer will you have to hope or try hard to convince people to work with you, but they will come to you already wanting your help and are ready to sign up as your clients.
And if you have a team that is involved in the process of acquiring clients, then you need to make sure that they are properly incentivized and motivated to be able to give the right experience to your prospects.
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Key Element 6: Get Coaching & Mentorship
The most successful people in the world, even billionaires, have coaches and mentors.
For example, Mark Zuckerberg considers Steve Jobs his mentor.
Steve Jobs himself had a mentor named Bill Campbell.
Bill Gates regards Warren Buffett as his mentor.
And even Warren Buffett was mentored by a man named Benjamin Graham.
The list goes on, and one thing is clear – If you want to have a good chance of succeeding, you need a coach and mentor.
But it’s ironic that many coaches and consultants do not see the need to get coaches and mentors themselves.
I have spoken to coaches and consultants who don’t feel it’s necessary to hire a coach, and they wonder why they can’t get clients.
It’s like teaching others how to make money online, but have never made a single dollar online themselves.
The biggest reason that I was able to grow my business so quickly after struggling for over a year is that I got coaching.
When I first started my business, the way I learned how to build my business was by reading blogs, watching YouTube videos, and buying several online courses.
I thought that would be more than enough to become successful, but I ended up spinning my wheels in circles for over a year and not getting the results I wanted.
After I got coaching and mentorship, my business grew from $400 per month to over $10,000 per month.
And subsequently to over $30,000 in the next 12 months.
This would never have happened if I didn’t get coaching and mentorship.
Through coaching and mentorship, I got valuable insights into my business and personalized advice that really helped propel my business.
This was something that I could never have gotten from blogs, YouTube videos or online courses.
If I were to start all over again from scratch, I would find a coach and mentor who already achieved the results I want, and then learn and model them.
That’s the secret to fast-tracking your results.
Many people struggle because they think that getting a coach and mentor isn’t necessary.
Then they scour the web looking for free answers to their problems, and they get frustrated when they can’t get a solution.
A smarter approach is to not think of getting coaching and mentorship as “costs”, but rather as an “investment”.
Because if you put in the work, don’t give up, then it will only be time before you succeed.
So if you want to become successful and get the results you want, then find someone who has already gotten the results you want and just pay to learn directly from them.
Trying on your own instead of investing in coaching and mentorship can be more “costly” in the long run.
There’s a saying that goes:
Successful people use money to buy time, while unsuccessful people use time to buy money.
And I’m sure you’d agree that you’d rather start getting results now than many years down the road.
And coaching and mentorship is the great accelerator to getting results fast.
Your Success Awaits You
With these 6 key elements in your business, you will be able to get more consistency and control over your revenue and income.
Building a 6-figure coaching & consulting business is not an impossible goal or something that is unattainable.
However, it requires the right strategy and the right mindset in approaching your business.
These 6 key elements will help you bridge that gap from where you are right now to where you want to be.
Your Next Step
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