How to make 500% more profit in 5 months
We all like proof don’t we, so here’s some. When I first realised the percentage of increase my coaching client had seen in their profits I had to check the figures. Could they really have increased profit by 500%?
The answer was yes and because I’m in a generous mood (I usually am) I thought I’d share the process we used.
If you are on a tight budget you are going to love this. At the end of the article I share how much they spent with me.
- First they had a coaching session with me (2 hours) they told me everything they had done, what was working and what was not. They were seriously fed up that they were spending so much time with each customer and couldn’t see how they could reduce that so they could make more money. They had to have a part time job to make up for the fact that their profit margins were so poor. They said they were busy fools and they’d had enough. I was their final straw. They’d already spent £5000 on training, agencies and support in the previous year and nothing had worked. They felt like a idiot for being duped by so called experts and gurus. Off loading is an essential part of development both personally and professionally. Never scrimp on this process, only do this with someone who is trained to support you and even if it is painful, work through it. When I work with a client I help them keep the emotions and feelings just out of reach, so they can feel them and work on them without suffering all over again.
2. At the end of the session the client had a clear plan of action. We looked at everything they could do, created a huge list of possibilities (I like to call these back burners) and then created the accountability to ensure they actioned everything on the plan. The action plan only had 4 tasks, a very clearly defined goal. A mindset check and a date by which each part would be achieved and what would happen next. If your action plan has more than 5 actions it is highly unlikely you would sit before me in a month’s time and tell you had achieved it. This then damages what you achieve moving forward. So don’t be tempted to add more than 5.
3. They joined my confidential mastermind group so even on a smaller budget they could access me 24/7 to get additional support, motivation and advice. You can join that here too, it’s only £5 a month and it would be great to welcome you, they are an amazing group of business owners. There’s no selling there it’s about asking for help, advice or ideas and people sharing their own experiences, knowledge and feelings about your business.
Within a week they reported that people weren’t just chatting to them on social media, they were now buying!
4. Their second session was 2 months after the first. They’d realised that they should have come back sooner because they were starting to get distracted. Web designers and digital marketing experts were distracting them telling them they needed ads and sites. At this stage it wasn’t important or necessary. Just a distraction. (Both of these feature in the future of the plans we’ve put together). I often find clients are overwhelmed with what they could do for business and in the coaching process we discover what they really need to do. Look for what distracts you – other people’s ideas or your own need for something shiny and new because you aren’t convinced this is working?
5. After the second session the client could see not just what was changing but work out how to replicate this and improve on it. We’ve started to create a Sales Mountain so that they can add entry level products right through to sparkly high price products that sell. There are even going to be automated offerings to really help them make a healthy profit.
We’ve set a huge goal to achieve by the end of 2020 and I know they can do this – with bells on. Whatever size goal you have, think bigger – in 16 years of coaching I’ve only ever seen one client that thought bigger enough. They are now a multi millionaire and had a 20 year plan.
6. The client came to see me in 2 months later for a third session (2 hours). They reported that they are near on fully booked and will be moving over to more group work and higher priced products in the final part of this year. We have looked at what that entails, who they need to talk to, how they need to talk to them and what they will be selling and introducing to existing clients and how to gain new custom. If you are doing what you were doing at the start of this year it is not going to be enough to be sustainable in 2021.
That’s it. 3 sessions, 6 hours and 24/7 support and they’ve a profit margin they love. That’s a cost of £1170. They had a full return on their investment in the first month. Add the 5 months of my mastermind group and it’s a TOTAL of £1195. Can you see why that client now likes to see me once every 6 weeks and tells everyone they know about me!
Just to bring home the truth on what coaching can do, this client has asked to work with me every 6 weeks and have 2 x half hour calls a month too. They’ve got the budget to reinvest in themselves and their businesses and are going to do this with me. That’s a monthly cost of £450.
If you would like to explore how coaching with me could help you, please do not hesitate to contact me. I work with individuals, business owners and large teams to help them get the most out of themselves and their businesses. We achieve amazing things together.
And if you have any of these sayings in your professional life, I’m very good at getting rid of them and it doesn’t take more people, money, equipment or meetings!;
- We’ve always done it like this.
- Nothing can change without more money.
- They don’t get our job.
- I’ve / We’ve tried everything.
- I have no option but to work 12 to 14 hour days.
- There is too much to be done.
- It’s not achievable.
- The new system just doesn’t work.
- Working from home is killing our business.
- Until the government does something there’s nothing that can be done.
- It’s just the way it is.
To all of these we found a better more productive, profitable, kinder, respecter way of working that stops burnout, stress and illness as well as a poorly performing teams and businesses.
Call +44 7989 935 556