Let’s be honest – no one is becoming a life coach, healer, or starting a small business to get rich. Most people do this because they want to help people, they want to do work they are passionate about, and they want to have the lifestyle that being your own boss provides.
But no matter your reasons, you DO still want to earn “a good living”, right?
And I will be honest… even though there is a lot of annoying talk in the online space about making 6-figures as if it’s some holy grail, it IS actually a decent goal to aim for.
Because at the end of that day, $100k is not that much money once you pay your business expenses and your taxes… you’re usually left with anywhere from $50-$70k. Which is nice. But with the cost of EVERYTHING these days, and depending on where you live, how many kids you have, and your desired lifestyle, that isn’t a whole lot.
So this whole $100k thing, I actually think it’s a good thing to aim for as a new coach. NOT right away — it takes time to learn all the things you need to learn to get to 100k, but as a 2-3 year goal in your business.
Especially because once you start making more, you are usually in a place where you can afford to hire more help, which gives you even more freedom of time and gives you more possibility for scaling.
So let’s talk about the best way to hit that $100k.
So many people jump into the online business game and immediately want to scale. They think passive income sounds pretty damn great, and they want to create low priced online courses and memberships and all kinds of ideas that honestly, just aren’t going to work well for their new business (sorry to be the bearer of bad news).
The reasons that passive income/scaled ideas don’t work for new coaches are a few.
- Small Audience: As a new coach, you typically don’t have a big enough audience built up to sell enough of these lower priced courses and memberships to make it worth it.
- Expensive: Online courses and passive products require more expensive technology (as they are usually set up to sell through funnels), more support on the backend (like someone to handle customer service inquiries, and someone to help when a student’s password isn’t working, or when a payment defaults or somebody needs to change the credit card info). You need to be earning enough already to pay for those that tech and team support, and most new business owners don’t want to pay those costs upfront.
- Expert marketing: You need to become a marketing machine to scale a program. You will spend more of your time writing emails, creating funnels, launching, growing your list, tracking metrics etc., than you will actually coaching. If you got into this business to become a marketer, then you might love it. But most coaches got into this to coach, and they are disappointed when they realize that scaling in this way often means less coaching and a lot more of the other business stuff that they never loved in the first place.
Of course, most new coaches and new business owners don’t think of these things, and the allure of passive income seems great to them.
But that is why I am here folks — to help set you straight so you don’t go down a long and expensive path to being broke.
And when you think about everything that is involved with trying to sell passive courses, and how little is involved in actually getting and working with one on one clients, the choice seems easy for your first $100K.
The fastest and easiest way to get to six figures is by selling one-on-one services.
All you need is a PayPal link and a calendar link for people to book their session.
Hell, I have worked with coaches who don’t even have a calendar – all the scheduling was just done by email. I don’t recommend it long term, but it is a possibility when you are just getting started.
So what would it look like making $100K as a coach? That depends on your coaching package and price point.
Here are a few examples:
Work with 125 clients in an $800 package (10 a month)
Work with 65 clients in a $1500 package (5 a month)
Work with 33 clients in a $3000 package (3 a month)
Work with 20 clients in a $5000 package (2 a month)
Work with 12 clients in an $8000 package (1 a month)
You get the idea.
Of course, you might have several different packages with several different price points, and it might not be as clearcut as the above, but at least it gives you an idea of numbers you could aim towards.
A note on pricing
It will take you time to work up to your “full price”. Just because you might be coaching for free or low cost now in order to get your skills and confidence up, doesn’t mean these will be your prices forever.
You can raise your price after each client you work with, if you want! You can raise them anytime.
As long as you are always setting your prices based on your level of confidence and the results you provide for your clients.
My general rule of thumb is that you want to feel like you are overdelivering. You want to get on a consult call and know 1000% that your price is absolutely worth it for that person!
Once you are in the swing of things with your coaching and you have a good idea of what your package price will be for the foreseeable future, bust out that calculator and divide $100,000 by the price of your package to see how many clients you will need to meet your $100k goal.
Then get hustling! It’s actually so much easier to go on a mission to fill those client spots when you know exactly how many spots you have to fill!
Here are some examples of our Uncage Your Business students who sell 1:1 packages and make 6-figures with just their 1:1 services (we are SO stoked for them!!). Some of them do have other services, but they hit 100k with their 1:1 offers!
Debra Doak – Divorce coach
Package: 6 sessions for $775
Shelley Harrison – Energy Healer
Package: 3 months for $1333
Chioma Ndjoku – Financial Coach
Package: $7500 retainer for 6 months
Erin Foley – Professional Development Coach
Package: $1597 for 5 sessions (over 3 months)
Emilia Farrace – Brand Strategy
Package: $1500 half day VIP day; $6000 website package
I can confirm (because I have worked personally with all of these students in our UYB program), that they did NOT start with these prices. All the folks listed above started where you are now. But they niched in, started working with people to build their skills and get testimonials, and raised their prices over time.
This does NOT have to be a long process. You don’t need to “pay your dues” for a decade before you can earn 6-figures.
But you DO need to do a few key things to get there. In fact I wrote a whole post about 7 things you need to hit 6-figures. Click here to read it.
If you need help honing in on your niche, getting 1:1 clients, and making your business “work” – I’d love to work with you in our Uncage Your Business program. Check it out here. The price for the program is going up on August 1, so if you have been thinking about joining, get your butt in there before it gets more expensive! Got questions about the program? You can always DM me on Instagram @theuncagedlife, or email me over at [email protected]