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Reward Yourself

Reward Yourself

Written By Dino Gomez

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Transcription

You deserve to reward yourself, to reward your efforts, to reward your actions, your thought processes, your improvements, what you’re doing, who you are, how you’re helping others. You deserve to reward yourself. And I want to talk about that today because I don’t think enough people give themselves credit where credit is due. Let’s dive into this right now.

Hey, you guys, Dino Gomez here and you are listening to the Secrets of Coaching podcast, where we break down the nuances of growing a seven figure online coaching business. And we are about to get started in 3 2 1.

Ladies and gentlemen, it is about 05:32 p.m.. I’m just about to wrap up the work day. And this past weekend I gave myself a three day weekend And it was phenomenal. It was a holiday weekend. Everybody had Monday off. It was the 4 July at the time of this recording. And so I took, of course, the Fourth off. I was with family then. I was with friends over the weekend for a barbecue on Friday. I cut work at 02:00 p.m. And then I went kayaking, which was a ton of fun, and I went hiking on Saturday. And it was just gorgeous out because we’re here in Summer on the West Coast. And so all the activities, hiking, kayaking, barbecue, with friends I hadn’t seen in a long time, actually, they just had a one-year-old that I hadn’t met yet. And it’s always just a great weekend. Saw family for the Fourth again, and the fireworks are fantastic and it’s a great weekend. Normally, I don’t completely unwind. Over the weekend, I might sneak in a couple of things here and there, but I completely unplugged and recharged. And here is why that is so healthy, is that I had a really productive and strong last couple of months working intelligently, not overworking, per se.

I wasn’t burning the midnight oil, so to speak, but I was working on the right things and I was in the right mindset and I was doing the right things. I wasn’t staying up an extra hour to catch the extra Stranger Things episode and I was getting to bed when I should be in bed, and I was waking up when I should wake up, and I was getting in the workouts that I wanted to get in. I was eating healthy to keep my energy levels high and my creativity high and all those. I did the right things. I had a great two months.

It feels really good.

So it’s very easy for me to go, yeah, I’m going to fully enjoy this three day weekend. And that’s precisely what I did. And I did so without regret or anything else or angst that I should be doing something else. And I just completely unwind. And I ate food that I normally don’t eat, and I just did all the different things. And if you listen to the last episode, we talked about the law of averages. You can do that and still have your business grow as long as most of the time you’re actually working intelligently and productively. And so that’s what I did. So I want to circle that story and kind of what I did over the weekend back to you. Because what is really important to do is to reward yourself for your efforts rather than your results, all right? Because if you are consistently putting in the right efforts and doing the right things and doing the best that you can do, not what other people can do, but the best that you can do, given your circumstance, given what’s going on in your life, the resources you have, all these different things, if you consistently are putting in the right effort to get better, to improve yourself a little bit more each and every single day, you need to reward yourself for your efforts rather than your results, all right?

Because there’s a lot of factors that come into results and as long as you are consistently doing the right things, the results will absolutely come. I was listening to a podcast myself, this individual I really like, and he was talking about this concept. He was like, I’ve sat down with all these multimillionaires and they always talk about they reward themselves for their efforts rather than results. Because if you consistently it doesn’t matter what industry you’re in, we can take maybe you’re a real estate investor, maybe you are in the stock market, maybe you’re in cryptocurrency, maybe you’re online coach and entrepreneur, you run a brick and mortar store, whatever it is, a hair salon, something. It doesn’t matter what you’re doing, right? The economy might fluctuate, your business might fluctuate and performance of team members might fluctuate. You can get unlucky with a promotion. Maybe you run a big marketing campaign, it just doesn’t land the way you wanted it to, or you just happened to choose a bad week to run the campaign. Your online audience isn’t responding as much because of the dates that you chose for this marketing campaign. There’s so many different factors.

And so what you should really do is reward yourself for your efforts rather than your results. Because if you consumed, put in the right efforts, you will get the results that you’re after. And so wherever you’re at right now, if you’ve been putting in consistently, if you’ve been working on improving yourself, getting better, you’re doing the different things, whatever that is, taking care of your family, working out, being a good husband, a good wife, a good mother, a good father, whatever it is that you’re doing, right, if you’re doing the right things and putting in those efforts, putting in those repetitions day in and day out, reward yourself for that. And what it will do is reinvigorate and reinspire you to continue on that path, right? It will keep you from burning out. It’ll keep you excited. It’ll keep you in the game longer. And the longer and more consistent you are with those types of positive efforts, your results will begin to compound, and everybody’s results really kick in at a different point in time. But the more consistent you are with those efforts, the more your results will compound it. Out of nowhere, you will suddenly seem like an overnight success.

All right? And so if you guys haven’t given yourself time off, if you haven’t given yourself an extra hour in the day just to take a nap or to read a book, or just 15 minutes, if you haven’t given yourself 15 minutes recently to just go for a walk outside, whether that’s with the kids, whether that’s by yourself, whatever it is, give yourself a break and give yourself credit and reward yourself for your efforts rather than your results. Because even if you’re not where you want to be right now, if you continue on the path that you’re on, your results will follow. All right? So this is your permission, guys. Reward yourself. Whether that’s you’ve been eating super healthy and you want to grab an ice cream cone, you have my permission. If you’ve been putting in the work, give yourself some credit. Take a look at what you’ve been what you’ve been up to, and be proud of that and take a little bit of a break.

Hey Dino, Gomez here and if you enjoyed this, so be sure to head on over to the secretsofcoaching.com for more resources, downloads, videos and cheatsheets to help you grow your online coaching business. All right. And if you picked up a cool tip or strategy from this particular episode, we would love a five star review where every single month we choose one lucky winner to win access to one of our coaching programs. All right. So that is it for this episode. Guys, we will see you in the next one. Bye.

 

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Law of Averages

Law of Averages

Written By Dino Gomez

Want Hands On Mentorship to Grow Your Coaching Business? Book a Free Strategy Call With One of Our Scaling Experts. ​

Our scaling experts can help decide if you are a fit for one of our coaching programs. We have various programs for coaches are different experience levels in their business.

Transcription

Imagine this. You are sitting poolside at a very nice resort, turquoise waters in the background, margarita in hand, and the families around you, they’re splashing and hanging out in the pool. And you just get a notification on your phone that another client just signed on board your program. How and why would that happen? How and why would your business grow while you’re on vacation?

Let’s break down how to do this. Here we go, guys.

Hey, you guys, Dino Gomez here and you are listening to the Secrets of Coaching podcast, where we break down the nuances of growing a seven-figure online coaching business. And we are about to get started in 3 2 1.

What’s going on, FAM? Hope you guys are having an awesome Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, or Sunday, whenever you are listening to this morning, day, evening, afternoon, or any of the things. All right, so we’re going to dive into this one, guys, right away. And I find this very fascinating. So why would your business grow?

How and why would you have a record-setting month in your business, never seen or done this before type of revenue, insane results, all the energy, all the motivation, like, all the excitement. Why would that happen while you were on vacation? Because we see the coaches, the gurus, the experts, those who have been online for a while, we see them, right? They’re posting on Instagram, they’re posting on Facebook, they’re on TikTok and social media, and they’re like, hey, record setting month doubled my sales while at the beach. And they have a really nice beach in the background.

It’s like, is that true? Is that accurate? And how does that happen for them? And how do we make it happen for us, right? You’re probably thinking that.

All right? Now, first off, I’m guilty of this as well. And I’ll explain to you how and why this has happened to me because historically, almost every single time I go on vacation. And when I vacation guys, let me make this clear. I vacation well, I vacation hard.

It’s a three-week vacation normally in another country, if not multiple countries. So when I vacation, I do it right? But I’ve always noticed this. My business grows while I’m gone. It’s fascinating.

Now, for the first few years, I didn’t understand this phenomenon. I was like, oh, maybe I just need a vacation more. I don’t know what it is that helps grow my business. Now, a little bit more experience, right? 13 years online.

Now I understand why my business has grown while I’ve been on vacation. Let me break this down for you, right, so you can experience the exact same thing, all right? So basically, it all comes down to the law of averages. The law of averages is your BFF. It is your best friend forever.

All right? Here’s how it works, right? The law of averages says essentially right? It can serve you, all right? And it could also frustrate you.

I’ll put it like that, all right? But essentially, let’s just imagine it’s the start of a new year, all right? Now, starting the new year, we’ll say January and February. You work very intelligently, you work smart. Now, notice I didn’t say you work hard.

I said you work smart, which means Monday through Friday, maybe you work nine to five, nine to three, whatever it is, but you work smart. That means the hours you put into your business, you’re working on the right things. You’re not just scrolling, you’re not inside of another person’s Facebook group. You’re not commenting on a link train, trying to self-promote like you are actually doing the right things that are going to help you grow your business, all right? So if you know the right things to do inside your business, it’s much better to work smart rather than hard, all right?

Now, if you are working really smartly or intelligently efficiently, and you do that in January and February, come March, the third month of the year, you can take a two-week vacation and experience massive growth inside of your business. How and why do you know? How does that happen? And why does that happen? Well, it’s the law of averages.

If we look at the law of averages, that would be a ten week span. Four weeks in January, 4 weeks in February, 2 weeks in March. All right? So of twelve weeks to start the year, eight of those I’m sorry, eight of those weeks you were working very efficiently, right? All of January, 4 weeks worked really efficiently.

All of February, 4 weeks worked very efficiently. There’s eight weeks of working efficiently, and then all of a sudden after that, you take a two week vacation. So the law of average says in those first ten weeks, eight of those weeks, you worked extremely efficiently. Therefore, you’re going to be rewarded for that. The marketplace is going to reward you for that efficiency and for doing the right things.

All right? So that’s what the law of averages says. It says you worked really well, eight of ten weeks, and therefore, right, in March, those two weeks that you’re vacationing, you most likely will experience growth or otherwise your business will just coast. You’ll continue to have the exact same numbers while being poolside, while being with your family, while being in another country, while traveling, while just relaxing whatever it is you’re doing, all right? So the law of averages will serve you as long as you are consistently efficient most of the time in the areas you need to be.

Now, on the flip side, right now you might be frustrated. Dino, what’s going on? My business has dipped, but I’ve been working my ass off the last 30 days. Why has my business dipped or dino, I don’t understand. The last three weeks, I’ve worked 14 hours a day.

Nothing has happened. I’m frustrated. Why is this happening? I don’t get it. Well, the law of averages guys, let’s just again, we’ll go back to the start of the year.

Let’s just say January and February. You decide to frolic, relax, sit on the couch all day, not really do much daydream. Whatever it is you’re doing, you do that for January and February, you don’t work at all on your business. Okay, let’s play that scenario. And then all of a sudden, in March, you find your motivation, and you’re on it.

You just work super hard through March, and for 30 days, even weekends, you work super hard in March. At the end of March, you’re like, Why don’t I have any sales? Or Why do I have so few sales? Well, it’s because it was just a 30 day increment. January and February, you took completely off March.

You worked really efficiently, and you work really hard. But if we look at the three month span, there January and February, you were absent March, you worked hard. But over a three month period, you only worked one month, and you had two months off. Law of averages says you’re not doing anything majority of the time, right? 33% of the time, you’re working.

That’s what the law of averages says, january through March, because you took January and February off March. You worked hard. The last 30 days, you worked hard, but over a three month span, in perspective, you only worked a third of the time. So you can work super hard for 30 days in March, and all of a sudden, at the end of March, you’re like, what’s happening? Why is my business not exploded?

It’s because it was just 30 days, all right? And so I think this is super important for folks and for you to understand, for everyone to understand, right? When you see a coach, a guru, an expert, a celebrity, or whatever it is, frolicking and tropical paradises or skiing down the mountain or doing whatever, and it’s hashtag making money while skiing, whatever it might be that the Goops put online these days, they’re not doing that every single day. Normally, they’re working very efficiently every single day, and then they can enjoy the fruits of their labor and still have their business operate, run, grow because of the law of averages. So, again, the law of averages is your friend.

This concept is rad, right? I get to go on vacation and do the exact same thing that they’re doing. I think that where things get misconstrued, is that you probably assume that they’re always on vacation, and somehow they’ve figured out the recipe for just always being poolside while having their business grow. But if you guys were to take a step backwards and think about this, you know, they’re not always poolside because you watch them on their trainings and everything else that they’re doing. And trust me that you see the background they’re not always poolside, but it’s fun to put the photos online when you are poolside.

I’ve done that before as well. And again, that’s why I’ve experienced this as well. Normally when I vacation for two or three weeks in another country, our business grows. And again, it’s not because I’m always vacationing. I think that would be a ton of fun.

It’s normally right, because I’ve been working super efficiently and intelligently and putting systems in place so that my business will grow while I’m on vacation. And you just happen to hear about it while I’m on vacation. All right, so law of averages, guys, is your best friend, right? Because you can look forward to this. You can go, okay, you know what I’m going to do?

I am going to work on the right things inside my business for two months straight, and then I’m going to take a vacation. Then I’m going to hang out with the family, then I’m going to take the kids to the spot they want to go to. You can do these different things. You can look forward to that, and you can enjoy your vacation at that point in time because your business, you’ve solidified your business, right? It’s nice to go on vacation and know that your business won’t fall apart while you’re vacationing for seven days, 14 days, 21 days, whatever it is.

So, again, I think the law of average is the coolest concept there is, because without it, that would mean every single day you have to work. And the results of your efforts on this particular day are going to be the results of how your business is growing at the end of that day. So in other words, that would mean if you work super hard today, you will see the results of that. You’ll land a client, end of the day, perhaps, or have a prospect or whatever it is. That’s awesome.

That also means that when you don’t work the next day, nothing happens. That means you go on vacation, your business flops. The law of average is, guys, it’s here to serve. You think of it in terms of fitness, right? If you eat healthy and work out just one day, you’re like, today I’m going to eat super healthy and I’m also going to the gym.

If you do that for one day and you look in the mirror at the end of the day, you’re not going to notice much difference. You step on the scale, there’s not going to be any difference. All right? So the law of average is actually is applicable to all facets of life. To get in shape, to lose weight, to be healthy, you have to be consistent.

You need to eat healthy, go to the gym for 30 days, 60 days straight, and then you will see a difference. And the reason that’s cool is because if you are consistently living a healthy lifestyle, well, then you can sit down on a Saturday night and enjoy a pizza and wine and all of the things and cake and dessert and whatever else. And again, it won’t affect you because normally you’re eating healthy and working out. So when you have a cheap meal, it’s not going to affect you so long. Averages, guys, we see it and we understand it in terms of fitness, right?

But then when it comes to business, we go, I worked super hard today. Why didn’t my revenue quadruple? Well, averages, if you continue day in, day out to not work hard, but work smart, right, you’ll end up seeing your business grow. And you will see your business grow while taking time off. And so that is how it is done.

And I just wanted to shed light on that guy. The law of averages is here to serve you. So here’s what you want to do. Here’s the big takeaway. Dina, what do I do from here?

I understand the concept now. I need to work smart day in, day out, Monday through Friday. I don’t need to work extra hours. I don’t need to stress as long as I’m working on the right thing. So what do I do from here?

Here’s how you have the law of averages become your BFF. You do this. Number one, you need to figure out what you actually need to work on, okay? And that does not mean posting in Facebook groups. That does not mean there’s certain things that some folks do that they write off as, this is I’m working just because they’re in front of their computer.

That’s not work. You need to figure out what is going to move the needle for your business. And then you need to do that day in, day out, Monday through Friday or whatever days you work. It doesn’t have to be all day. But if you’re working on the right things consistently, then what will happen is the law of averages, after a month or after two months will come into effect and you will have massive results.

And so I love seeing this with our clients because the individual that comes to mind right now is our client, Michelle. She’s a relationship coach. And she’s like, I just finished a huge promo cycle. And she’s like, I didn’t write a single email. I didn’t run a single advertisement.

I didn’t post in my Facebook group. She’s like, I didn’t do anything. And we had a record setting month. And she’s like, that was incredible, right? And I pointed out to her, I was like, you deserve it because you put all the systems in place to have that be your results while you relax during your big promo week.

She had her virtual assistant handle different things, but she had to put those processes in place so that she could hang out and have a fun week celebrating everything that she put in place the previous two months. And then she had a reconciliation month. That’s how it goes. It doesn’t mean you don’t have to do anything. It doesn’t mean you just go on vacation and your business skyrockets.

Right? That’s the illusion. It’s that you use the law of averages and you use it. Understand the concept. Work on the right things.

You do things efficiently, consistently, and then you can take a break and enjoy and celebrate your business growing. All right? So law of averages, guys. Keep that in mind with anything you do. Fitness, relationships or your business, health, wealth, relationships.

It applies in every aspect of your life. Think about that and how cool that is.

Hey Dino, Gomez here and if you enjoyed this, so be sure to head on over to the secretsofcoaching.com for more resources, downloads, videos and cheatsheets to help you grow your online coaching business. All right. And if you picked up a cool tip or strategy from this particular episode, we would love a five star review where every single month we choose one lucky winner to win access to one of our coaching programs. All right. So that is it for this episode. Guys, we will see you in the next one. Bye.

 

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How to Raise your Prices

How to Raise your Prices

Written By Dino Gomez

Want Hands On Mentorship to Grow Your Coaching Business? Book a Free Strategy Call With One of Our Scaling Experts. ​

Our scaling experts can help decide if you are a fit for one of our coaching programs. We have various programs for coaches are different experience levels in their business.

Transcription

In today’s episode, we’re going to talk about how to raise your prices without losing customers. Let’s go.

Hey, you guys, Dino Gomez here and you are listening to the Secrets of Coaching podcast, where we break down the nuances of growing a seven-figure online coaching business. And we are about to get started in 3 2 1.

All right, guys, it is 07:00 A.m. I have a few moments here before I lead a mastermind call for the seven-figure visionaries. Today, we’re going over copywriting techniques and strategies on that particular call, but I want to talk to you guys today first and foremost, about how to raise your prices without losing clients. All right? And so I’m going to tell you guys a quick story. If I go way back in time, and this was three years ago, four years ago, I joined a program, and my coach said to me at the time, I was charging $500 for an online course. And it was more a course at that point in time rather than like, a mastermind rather than an actual coaching program. I would call it more of a course. Most of it was done in the format of going through the video training with a Facebook group. So there weren’t, like, one on one calls. They weren’t like, group coaching calls or support calls. It was really just video training and asking questions in the Facebook group. That was the format. Low ticket, $500. So that was like, the format, and dove into this program because I wanted to raise my prices.

I wanted to create a better program. I wanted to become more profitable. One of the very first things that my coach said is, hey, you need to raise your prices to $3,000. And it was very finite. Like, it has to be $3,000. And here is why. The explanation was if you want to grow your profitability if you want to build a team, if you want to provide better support and coaching to your clients, you need more revenue. You need more profit margins to be able to do so. I looked at that, and also, it’s like if you want to actually grow and be able to have the margins to run paid ads so you can reach more people, so you can help more people, so you can become more profitable simultaneously and together, then you have to charge $3,000, because otherwise, you won’t have the margins there. I looked at this, and I was like, okay, I understand why it has to happen. That was kind of like, step one is like, okay, I understand now the economics of this, of why it has to be this way. And so then the next piece was like, the mindset piece.

What do I really think about this? So what I did from a framework perspective, right? And that’s a big leap. It wasn’t like, double your prices from 500 to 1000. It was like six x your prices, you have to be at $3,000. And so that’s a huge leap. So I was excited every time a $500 client came on board. But then to digest $3,000.06 times the price initially imposter syndrome like, no, I’m not sure if I can do this. Who’s going to want to pay $3,000? Do people even have $3,000 for a mentor or a coach? What if nobody pays? All the what-ifs, right? And when you are faced with the what-if dialogue in your mind, one of my favorite things to do is to play into it. That’s one of the easiest ways to dismantle a fear or a limiting belief that you have is to actually play into it. So if you’re asking yourself, what if this goes wrong? Continue to play it out. What if it does go wrong? Does the world stop? Does everything fall apart in your life? What would you do if you raise your prices and nobody bought?

You’d probably figure out a way to make your offer better, to add more to your offer to justify the price. You could lower your price back down. Nobody has bought at your increased price point, so nobody is going to be upset that you are dropping your prices. Like, you have a lot of options, right? You could get somebody to sell for you that’s better at sales and that can convert at that higher price point. Or you might just be getting studying sales so that you can convert at that higher price point. You have a ton of options if for some reason it didn’t work. So as I sat there and I was like, okay, $3,000, what if nobody buys? And then I was like, okay, what if nobody buys? And then I went through, what would I do in that situation? If I was just dropped into that situation and had to work my way out, would I be able to do it? I was like, Yeah, I have a ton of options. I can get better at sales. I could hire somebody that’s good at sales. I could make the offer better. I can make the service better.

In Our marketing, we could probably fine-tune to attract more of the audience and buyers who want to spend that type of money on themselves. There are so many options. I was like, Oh, I have a ton of options. If this doesn’t work, now, I can relax and actually go for it and do this right. And so the first thing after that was upgrading my offer and upgrading the program. So I went and recorded a bunch of new training modules and case studies and different things. And then I was like, okay, now we’re going to start providing twice-weekly group coaching calls. So it’s no longer a course. It’s a program where there’s going to be live coaching calls that clients can attend and get feedback, get support, have a good strategy, and have mindset stuff. So the offer increased from just being like a video training to no, now it’s the actual video training. The video training was updated. It’s even better now. There are twice-weekly live coaching calls. We also added a kick-off call, a one-on-one kick-off call. We added a one-on-one strategy call that you can use at any point in time.

So we literally made the actual offer that much stronger. And then now all of a sudden, my confidence level is raising that okay, now I felt good. That $3,000 price point would be an amazing deal. And then I looked at client results, and I was like, the client results are insane. And I started wrapping my head around that, and I was like, Okay, this would make sense from an ROI perspective as well. And so all those things happened, and then it was time to raise the price, right? And so then I decided that at this point, it was self-checkout. When you have a product that’s low ticket right under $1,000 or under $500, normally you can do self-checkout. And that’s how people would enroll. There’s not a sales conversation needed. You can actually sell high tickets at self-checkout. It just depends where you sit in the industry and where you sit with your audience if there’s enough authority built, right? I’ve seen self-checkout for $100,000 Masterminds. Like, you don’t even talk to somebody before you pay $100,000. But the individual is such a huge influencer. There’s a level of trust there.

So generally speaking, right, you do self-checkout when it’s a little bit less expensive, and you do create more opportunities for yourself if you do sales calls because people can have their questions answered and objections handled. So anyways, at $500, it was self-checkout. Now, to go into $3,000, I was like, Okay, we should actually do sales calls so we can answer people’s questions. And again, whether you should do sales calls based on your price point is based on your target audience and how much authority you have. There are different buying audiences that wouldn’t necessarily need a sales call even at a $30,000 price point because of that audience, because of who you’re speaking to. So you need to know where you sit in the marketplace. But at $3,000 to the particular audience, we were marketing to, I was like, they’re going to want to talk to somebody before they buy. So we needed to do sales calls. So that meant I needed to start making sales calls first and foremost before I actually hired a sales team member, a sales rep for our team, all right? Because first you want to prove that you can do it yourself, and then you also want to record those calls so that they can become training material for your sales rep.

They can learn your style of sales and how you answer questions about your program and your coaching. So I remember taking those first few sales calls and being nervous, because now all of a sudden, I’m, like, pitching this $3,000 program, and so I’m super nervous. And again, I had the what-if thing going through my head, but I’d already worked that out. So anytime the what if pops up, again, if you’ve already worked it out in your head, you can remind yourself, no, it would be fine. Here’s what I would do afterward, right? So, again, no matter what it is, what if I launched my coaching business? Do you know, and it doesn’t work out? Well, you tell me what if. What would you do next? Or then? Would you get better at coaching? Would you get better at sales? Would you get better at client attraction? Would you give up? Would you go get a job? What would you do? Ask yourself what if and play it out. And then the next time that pops into your head, right? I already worked that one out. I’ll deal with that when I get there. But I know that there are solutions and opportunities and other things I can do afterward, which is awesome.

Okay? So that’s what I did. I’m getting ready for that first sales call, and I’m a little bit nervous because I’m doing first-time selling at the $3,000 price point. And again, our program is now upgraded. We have a lot more than we’re bringing to the table in terms of value. And so I go through the entire offer. The person actually, purchased it on the spot. I remember I dropped the price, and they sat there, and they go, okay, and they’re thinking about it, and I’m just allowing them to think about it. And again, I’m like on pins and needles, like, what’s going to happen here? And they said yes, and they closed. And so I tried to act cool and calm and collect, and what I did next is this is a big one for you guys, is that I knew exactly how to onboard them, right? So they said yes on the call. I was, okay, let’s process your credit card. We did that. And actually, we have a cool onboarding strategy for new clients that our clients afterward turn around and use. But I was like, okay, let’s get you all on-boarded.

And boom, we get him on boarded. And his name was Doug, and I won’t forget his name because it was the first close at that new price point, right? And after the words, I’m dancing around the room, I’m, like, amazed. All these I’m just super excited, and my mind had just exploded because now I realize, wow, this entire time, we could have been charging six times as much, right? What it would have taken to generate $3,000 in revenue. It would have taken me it would have taken six clients to come in at $500 for that one $3,000 client. But now, to this day, this was about four years ago with my first ever program. To this day, I remember the gentleman’s first name. His name is Doug, and I won’t say reveal his last name, but I remember his name. I’ll never forget him because of that and because he was a client, not a customer. Now, right, at $500, it’s more like you’re a customer. At $3,000, you’re a client. So now I know him by first name. I had several one on one calls with him. He joined our program, and it was only one sale.

And what’s interesting, right as we talk about seven figure visionaries here, that’s what you need to strive for per day is if you want a million dollar business, it’s $3,000. You make $3,000 a day. A little bit under, it’s closer to like, $2,700, but essentially strive for $3,000 a day. So if you can create a coaching program that is valued or is worth right, $3,000, if that’s your price point, if you can get yourself to $3,000, then all you have to focus on is, okay, I just need to close one client per day, and I will have a $90,000 month, which is well over a seven figure run rate. You do that every single month, you’re going to make well over a million dollars in that calendar year. So now I’m like, okay, cool, this is proven. Did that a few more times. I didn’t like the next four or five sales calls. I think maybe we closed two or three out of the next five. So it’s not like a perfect close ratio. I wasn’t expecting that. But nonetheless, right. It would have taken six times as many customers to equal that one client.

And now I knew him by first name, and now I got to develop a relationship with them. And now they got a way more support that they needed to get better results. It created this win win situation. They were super happy with the level of support in the program because it was getting them to where they wanted to be. I was super happy. And now I was able to hire team members to provide even more support and expertise and even more one on one calls and even more group coaching calls, and everything started to explode. And so if you’re asking yourself, do.

You know, how do I raise my prices?

Oh, my gosh. I think if I started out as a coach right now, or you already have a coaching business, I want to raise my prices to ten grand or whatever it might be. If you’re wondering if you can do that, first think about number one. How do I upgrade my offer to justify that higher price tag? What would need to change? Or is everything already set? You could be under pricing yourself. Do I need to change anything? And what I recommend doing is stacking the deck. So in other words, make yourself so confident in your offer right that confidence radiates from you in terms of the value. That the value exchange that you’re providing to the market. So if you need to stack on ten oneonone calls to feel confident raising your prices, do so. Stack ten one on one calls on and sell at the higher price point. And with extreme confidence that this is a screaming deal, do that. Get yourself energetically, super excited and confident to sell at the higher price point. Upgrade your program if you need to. Add in more coaching calls and support and then raise your prices.

And when that little bit of self doubt kicks in, just remember this when you say to yourself what if, play it out. What if? And what would you do if things went terribly wrong and you’ll see that it probably isn’t as terrible as you expected. So the lesson here, guys, is number one, this is how you raise your prices. But then number two, play the what if out. And when you do, you realize you have a lot more to gain than you do to lose. If you go for it, whatever that might be in your business and in your life, things that you want, all right? Go after it. Because the what if it goes wrong is normally very minimal compared to the what if it actually works normally, that’s absolutely massive.

Hey Dino, Gomez here and if you enjoyed this, so be sure to head on over to the secretsofcoaching.com for more resources, downloads, videos and cheatsheets to help you grow your online coaching business. All right. And if you picked up a cool tip or strategy from this particular episode, we would love a five star review where every single month we choose one lucky winner to win access to one of our coaching programs. All right. So that is it for this episode. Guys, we will see you in the next one. Bye.

 

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4 Words Changed an Industry

4 Words Changed an Industry

Written By Dino Gomez

Want Hands On Mentorship to Grow Your Coaching Business? Book a Free Strategy Call With One of Our Scaling Experts. ​

Our scaling experts can help decide if you are a fit for one of our coaching programs. We have various programs for coaches are different experience levels in their business.

Transcription

Four words changed a billion-dollar industry. Four words. Alright, this is called and the strategy, the marketing strategy here is how to deposition your competition. Four words literally changed a billion-dollar industry. I’m going to tell you what bud light did to absolutely change the beer game forever. Let’s dive into this now.

Hey, you guys, Dino Gomez here and you are listening to the Secrets of Coaching podcast, where we break down the nuances of growing a seven-figure online coaching business. And we are about to get started in 3 2 1.

Dino Gomez here. Hope you guys are having an awesome Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, or Sunday. Hope it’s an incredible day filled with just lots of good things. Soak it all in those words of encouragement for the day. Make it a freaking awesome day. But today, I want to tell you guys something really cool I learned recently I was sitting down with an industry friend, Marty Marion, who is legitimately the real-life madman. If anybody has ever seen that popular show, I think it’s on Netflix. I didn’t watch too much of it, but now maybe I have to. It’s called a madman. I’ve seen a few episodes, but it’s about an ad agency, right? And Marty worked as a consultant for one of the world’s largest ad agencies about 30 years ago and it was in downtown New York. And he was called in as a consultant and he was working for this ad agency. And the ad agency has these billion-dollar brands. All of the household brands would go to this ad agency because they were the absolute best. And Marty would weigh in. From a marketing perspective, is this a good decision or a bad decision?

A smart branding move or not? And so I sat down with Marty recently and he was telling me one of the coolest marketing stories I’ve ever heard, which I am going to reshare with you guys here, which is this 19 bud light ran a super bowl commercial campaign. And in that campaign, what their primary marketing message was, was composed of four words. Bud light in the super bowl, during the super bowl game, runs a series of television commercials and their marketing angle was around four words. And these four words changed the beer industry overnight. Think about four words making that big of a difference. Well, the words make a big difference. So here’s what bud lights said in their commercial. They showed people hanging out, holding a bud light, having a good time, like you normally see in those commercials. And at the end of the commercial, bud light said these four words brewed without corn syrup. That’s all they said, four words brewed without corn syrup. And it’s interesting, right? Because if I were to ask you guys, do you think corn syrup is healthy for you or unhealthy for you? Most of us know corn syrup is unhealthy for you, all right?

So bud light comes out and they say brewed without corn syrup, that their beers are brewed without corn syrup. Now, with those four words, a ton happened because you can imagine this. This is brilliant marketing, just genius. You can imagine this. People are sitting around drinking their beer, watching the super bowl, and imagine you are drinking beer, eating nachos, watching the super bowl with friends or family. And then you see that commercial, and Bud light says, we’re brewed without corn syrup. Now, if you’re holding a coors light, a Miller light, an IPA, or anything else, any other type of beer, a Corona, and you see Bud light saying, hey, we’re brewed without corn syrup, you’re going to all of a sudden look at your hand, and you’re going to look at the beer you’re holding, and you’re going to be like, what type of ingredients are in the beer that I’m drinking right now? Right? And you’re going to start to wonder, well, is the beer I’m drinking brewed with corn syrup? And so instantly, what bud light did with four words, those four words being brewed without corn syrup, they’re basically saying, hey, we have no corn syrup in our beer.

All the beer drinkers that are watching the biggest sports game on planet earth are now all of a sudden skeptical of the beer that they’re drinking because it might be brewed with corn syrup. All right? As Marty explained to me, because he is just one of the world’s best branding experts, he explained to me that this is called depositioning. So it’s about positioning yourself ahead of the competition. And with those four words, bud light effectively depositioned all of their competition almost overnight. So much so that corona sued Bud light for a ton of money, all right? So Corona felt the effects of those four words so much that they sued Bud light for defamation. I can’t even pronounce that word. But they sued Bud light saying, hey, you said bad things about us. Bud light did this perfectly, right? They didn’t mention corona. They didn’t say corona is brewed with corn syrup. They didn’t say Miller light is brewed with corn syrup. They didn’t say something else is brewed with corn syrup. They just said, hey, we are not brewed with corn syrup. And instantly, all the beer drinkers are like, holy crap. Is there corn syrup and these beers I’m drinking?

So as Marty explains, this is called depositioning. And just one of the coolest concepts ever, right? So people are now worried about the beer that they’re drinking. And it was such a big deal that on Twitter, which is normally where these big brands come back and forth at each other. So what happened is Miller light instantly responded, and Miller light’s response was actually just as witty. Miller light responded. Their PR team responded real fast on Twitter, and Miller light came back out and they said publicly, don’t forget, we’re twice the taste and half the carbs of our competition. And that was a great response from Miller Light. So basically, Miller Light, in a roundabout way, was saying, yeah, there might be some corn syrup in our beer, but we’re twice the taste and half the calories, is what Miller Light said, or half the carbs. It was either half the carbs or half the calories. So in other words, what Miller Light is saying is, hey, take your pick beer drinkers. You can either go with Bud Lights beer that doesn’t have corn syrup, or you can go with our beer that has half the calories and twice the taste.

And so now, legitimately, right? It’s like a conversation. It’s like, which do you prefer? Do you prefer something that might not have the healthiest ingredients, but do you prefer something that might not have the healthiest ingredients, but it has less calories, so you’ll look better? Or do you prefer going with something that’s all-natural, but it’s a little bit more unhealthy for you? So you kind of have a pick there, but nonetheless right, but, like, did super well with that marketing campaign that, again, it created lawsuits against them because it was such a strong marketing angle, and a lot of people switched over to Bud Light or otherwise started choosing other beers that were brewed without corn syrup just because of those four words. And so, again, this strategy in this marketing angle, it’s called depositioning, where you change your market positioning. And so the questions that Marty pointed out when I was sitting down with him is he goes, you want to always understand where you sit in the marketplace. Right? So what can you say that you offer that your competition doesn’t? So, in other words, you need to study your competition. If I ask you, when was the last time you sat down and studied your Epic Umar competition, what would your answer be?

Have you ever considered that? And you want to understand, okay, if you provide one on one coaching calls and your competition doesn’t, you should probably have that somewhere in your marketing or in your messaging or on your website, in your funnel somewhere, right. Because that is a strength that you have. If your competition is doing something that is not good, you probably want to shed light to that, that, hey, you have a more efficient way, a safer way, a faster way to get your clients results, but you need to understand your strengths and your competition weaknesses, and you want to shed light on that without mentioning your competitors names, right? So when it comes to branding and marketing, never mention a competitor’s brand or an individual’s first name. It doesn’t have to be it doesn’t have to be in a personal attack or a personal brand attack in terms of your marketing angle and message. But what you can say is, here’s how we’re better or we do something without using this tactic or the solution that you may be against. And so that’s all that marketing is, no matter regardless of industry. It’s just how you position yourself as the best solution to a particular audience, because your audience you share, your target audience is shared.

Your competition is marketing to the same audience. So what your objective is, is to say, hey, here’s why you should choose us over the competition. Here’s what our strengths are, so that your target audience can say, we like that more than the competitors alternative solution. And so that’s ultimately what marketing is. So next time you’re going to buy something and you’re looking at several options, ask yourself, why did I choose this one over the other one? And analyze the marketing. The more you analyze these different marketing angles, the better you will be at creating your own angle and your own messaging in the marketplace that stands out, and that calls in those ideal target fit clients. All right? So remember, guys, words make a difference. Words are what compose your messaging. And one of the things you want to ask yourself is, what are my strengths? What are my weaknesses as compared to my competition? And how can I craft a unique marketing message around that?

Hey Dino, Gomez here and if you enjoyed this, so be sure to head on over to the secretsofcoaching.com for more resources, downloads, videos and cheatsheets to help you grow your online coaching business. All right. And if you picked up a cool tip or strategy from this particular episode, we would love a five star review where every single month we choose one lucky winner to win access to one of our coaching programs. All right. So that is it for this episode. Guys, we will see you in the next one. Bye.

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What’s Your Next Big Move?

What's Your Next Big Move?

Written By Dino Gomez

Want Hands On Mentorship to Grow Your Coaching Business? Book a Free Strategy Call With One of Our Scaling Experts. ​

Our scaling experts can help decide if you are a fit for one of our coaching programs. We have various programs for coaches are different experience levels in their business.

Transcription

In today’s episode, I’m going to ask you a really, really important question. What is your next big move? And what does that exactly mean? Let’s get into it, guys.

Hey, you guys, Dino Gomez here and you are listening to the Secrets of Coaching podcast, where we break down the nuances of growing a seven figure online coaching business. And we are about to get started in 3 2 1.

What’s going on, guys? Dino Gomez here. And in today’s episode, I want to ask you a really, really important question, which is what is your next big move? What is your next big move? What are you doing next to change the industry? Think about this one for a second, guys. If you are not inventing, then you are always following. And as long as you are always following, the best you can be is second place. And there’s nothing wrong with second place. Second place is fantastic. As a matter of fact, you don’t need to be first in your industry. The challenge is always and the game is always you versus you. It’s always just you competing against yourself. And how could I get better and better and better? Well, one of the ways that you can get better and then actually without even noticing, end up in a position where you are competing at the top of your industry or niche is to ask yourself this question, what is my next big move? What can I do differently to completely change the game, change the industry, help and serve my audience further so that I stand out as the go to solution provider, as the go to coach, as the go to consultant.

Right.

What can I do differently.

To go deeper here into this question, what’s my next big move? Also ask yourself, what is everybody in my industry currently doing? What are my competitors doing that is leaving an opportunity for me to come in and solve a massive industry problem. And this is a fun one to think about.


Because oftentimes we think it’s a one and done job, guys. In life and in business, it’s never a one and done job. You can’t get in shape going to the gym once and just go, I did it once and we’re done everything is consistency. It’s eating healthy consistently, it’s going to the gym consistently. It’s doing your mindset work consistently. It’s showing up consistently. It’s inventing consistently as well.


And so whatever is working for you and your business, it continued to double down on that and go as fast as you can. When you find something that’s working, go fast.


Because it will not always continue to work in the exact same manner.


We’ve invented and discovered different strategies and different things and different niches and so forth. And it’s only a matter of time before somebody discovers that niche as well and wants to compete with you in that niche. You can come up with a cool slogan or a cool catchphrase or something like that, and it’s only a matter of time before somebody copies that cool slogan or catchphrase or something else.


And so the name of the game is being dynamic. I love that word dynamic. So I asked myself, how can I be dynamic? And when was the last time I sat down and just gave myself some time to think?


Thinking so powerful. Life is so busy that often times we don’t just sit down and think. Give yourself permission to just think. Schedule it into your Journal, into your phone. I’m going to spend 30 minutes an hour this weekend just thinking without even any headphones in or anything else. I’m just going to think and give yourself and give your brain direction on what to think about. And the prompt and the question to ask yourself is this, what is my next big move? And how am I going to change the industry? How can I better serve my clients? How can I upgrade my product or service? And how can I invent? And when you do that, your brain will go to work for you and it will start thinking up possible solutions. And the more curious you get about what is my next big move? How can I change the game? The more solutions, the more creativity, the more ideas, the more inspiration will come flying at you. And right now, you might be like, I have no idea what the next big move is. But if you give yourself that thinking space and time and you prompt your brain with that question, what is my next big move?

Where is the industry headed? How can I get there before everyone else? Watch as you have all these amazing, inspiring ideas to come up with some awesome thing that you can do that’s going to differentiate you from your competition. It’s going to allow you to serve your clients better. It’s going to put you in a position for massive, massive growth. All right, so as you go about your day, ask yourself, what is my next big move? To say it over and over and over again. And let’s see where that takes you.

Hey Dino, Gomez here and if you enjoyed this, so be sure to head on over to the secretsofcoaching.com for more resources, downloads, videos and cheatsheets to help you grow your online coaching business. All right. And if you picked up a cool tip or strategy from this particular episode, we would love a five star review where every single month we choose one lucky winner to win access to one of our coaching programs. All right. So that is it for this episode. Guys, we will see you in the next one. Bye.

 

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How To Hit Your 12 Month Goals [Do This Not That]

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