As a coach looking to meet and surpass your monthly revenue goals, you not only need to know your revenue targets, but you also need to have a plan on how to achieve them. A key factor to this workflow is your business strategy, which powers your client load, helps you move through blind spots with new, effective, and fresh ideas.
So today we are diving into setting sales goals and strategies which will challenge you to find new ways of expanding your coaching business, whether you are a career, life, or business coach.
It all starts with your sales goals.These are the sales objectives of your business, i.e. the clearly defined monthly targets you want to achieve, which need to be aligned with your annual sales goals.
We’ve learned from numerous calls with coaches this is a part many people ignore just because they are not “successful enough” to set goals. Yet, this process has nothing to do with the success of your coaching business. Defining goals right from the beginning, even when you are only making $2-5k revenue per month, offers you more clarity in your business and a roadmap of what you need to do to grow your revenue and profit.
“It is not where you start but how high you aim that matters for success.” Nelson Mandela
Saying “this month I hope I will get 3 more clients” without a clear idea of why you have chosen that specific goal, what the expected revenue is, and without a realistic plan, the probability of you not achieving that goal is high. Your efforts won’t move into the right direction.
Smart is an acronym that stands for Specific, Measurable, Attainable, Relevant, and Time-Bound. When you implement a system that includes SMART goals, not only does it save you precious time, but you can also identify a new possible approach to help you scale your business.
If you are a coach and your goal is to have more revenue per month, this is how you can set smart goals for your business:
Setting goals in the proper way is going to help you reflect over your results, review what is and what isn't working, and update your strategy. You will have a proper overview of your efficiency at acquiring new clients.
Using a sales tracker will help you have that overview.
As a coach, it really is worth to keep abreast of the latest and most effective strategies for attracting clients with organic marketing in your niche and to have discipline in this process. As Warren Buffet said: “We don't have to be smarter than the rest. We have to be more disciplined than the rest”.
Discipline will save you time while also allowing you to put your “finger on the pulse” all the time. This is a great leverage for a coaching business, at a time when the space is flooded more than ever with coaches and when attracting clients with organic marketing seems harder than it used to be.
In a previous article, How To Get Clients With Organic Marketing (Part II), we talked about the Money Making activities and how you can effectively use each of these strategies. And they don’t require a huge audience, an email list or a big following. Here are the money making activities for coaches:
Our goal was to make $20k/month profit, but first you need to define the type of activities you need to do in order to achieve it. Irrespectively of your niche of coaching, every lead you connect with is in one of these stages:
>>> Cold leads - they don’t know you and are not familiar with your services. Usually, these are the people you find in Facebook Groups, who see your posts on Instagram based on your hashtags or videos. They are in the Awareness stage. Here you can use the live videos, sharing valuable content (without promoting your services) and creating training.
>>> Warm leads - they know a little bit about you, but they need to trust you more. Here we have the leads that started to become familiar with your content. They see you all the time and might even follow you. They are in the Consideration stage and the best activities are: building relationships, offering valuable content and creating trainings.
>>> Hot leads - are interested in your offer and ready to buy from you right now. These are your followers, members in your own Facebook Group and ideal clients in your friends list. They are in the Acquisition stage. You can book calls directly from your content having a clear call to action such as: Join my program/ Book a call.
After you define your money making activities, it’s time to create a plan with the most relevant activities for you to get clients, So let’s say this time your goal is $20k/month revenue.
Step 1: Define what you sell and the pricing. This could mean:
5 group packages x $2,000
2 private 1:1 packages x $5,000
3 private 1:1 packages x $4,000
1 VIP private 1:1 package x $10,000
Step 2: Based on the strategy listed below, define your money making activities:
And as you notice, you need to do a certain type of activity to get a cold lead into the acquisition stage without feeling sleazy about selling or giving them that feeling. You can’t sell your services to a cold audience because you don’t have authority and their trust yet.
Customize all these activities for your own coaching business around your zone of genius. For example, if you love creating different posts, or doing live streams, include more of those into your strategy.
With this in mind, you’ll have a predictable plan for getting clients with organic marketing by following an effective process of setting goals and creating a strategy around those goals.
If you haven’t read the previous articles where we show you exactly what you need in your coaching business to be successful, you can find them here:
Part I - The Coaching Map
Part II - Money Making Activities
Part III - Business Foundation
Part IV - Marketing Strategy
Part V - Business Strategy
P.S. Don’t forget to join our incredible group for like-minded entrepreneurs, life coaches, business coaches and career coaches >>> The Coach Tribe 🚀