The reason my digital coaching business does 4x to 7x ROI every month is because of six things that I have consciously incorporated from the time that I started this business.
After making a lot of mistakes and successfully building a tribe of over 11,000+ paid customers I have learned some powerful lessons that will help you cut short that learning curve.
What you will learn in this podcast:
- How to tap into the power of alliances?
- How to effectively use automation?
- How to apply the flywheel to maximize profits?
- How to build partnerships and affiliates the right way?
- How to learn from nature and apply the concept of ‘fractals’ in your business?
- How to build high ticket products to increase profitability and impact?
All 6 points are focused on helping you build your profitablity.
I go deep into every single point and give you a lot of ideas to improve your business.
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33 replies to "6 Ways To Maximize Profits As A Digital Coach"
Great one Sidd. All points really interesting and noteworthy. The Key is the High ticket Programs and the ability to be able to provide significant value to be able to attract them. And I liked what you said….Unless you Invest in High Ticket programs you may not have the moral right to charge one.
A Business Coach has 2 meanings interestingly. One is soneone who provides knowledge and the other is someone who carries people along..the concept of a Coach for moving. You are doing very well on both. God Bless and have an amazing day.
Thanks Vijay! great points!!
Thanks Sir for diving us in your ocean of knowledge & teaching how to swim in this ocean.
My learnings from this podcast are–
1. Build Alliances – When you are on your own trying to grow your business in own well thinking that it is the world without knowing that there is an ocean out there. If you are in that narrow minded mindset there is no way to increase your profit.
3 areas to build alliances are–
1. Competitors
2. Complimentors
3. Influencers
2. Automation ‐ Lead automation in terms of communication, segmentation with your audience. Sales automation through automated webinar. Support automation have chatbot for customers questions. Systems where there are facilitator to answer questions and to clarify points. Deligation & Outsourcing your work.
3. Flywheel ‐ It is based around customer experience & satisfaction. As more & more customers are coming into digital ecosystem. If you are able to give them better experience in terms of quality of content, in terms of the way you conduct your sessions, gamification etc. With this they will get better results. So more customers with better experience leading to better results will then move them to build a better brand. So when customers are having a better experience and they are getting better results automatically a brand builts. When these 4 things happens that will help you to build more customers again.
4. Build Partnerships – Customers becoming your partner. Introduce it at a stage when you know you are getting results for other people. Your concept is proven in the marketplace and you have a loyal tribe. Share revenues with partners. Launch a partners contest.
5. Concepts Of Fractals – Everything has a input, process & output. Looking at every single area of business as a fractals. 80/20 rule is also applicable in our business. Map your entire business applying the fractals concepts & 80/20 rule. It will take your business to a whole new level.
6. Build Higher Ticket Products – Group coaching, masterminds, certification . Anything where people are paying $1000 above. You cannot be at lower zone for a very very long time. You have to graduate from that to moving your needle to the next level. Design a high value group coaching products, masterminds or certifications.
#ilhdeeplearner
Thanks Sir for diving us in your ocean of knowledge & teaching how to swim in this ocean.
My learnings from this podcast are–
1. Build Alliances – When you are on your own trying to grow your business in own well thinking that it is the world without knowing that there is an ocean out there. If you are in that narrow minded mindset there is no way to increase your profit.
3 areas to build alliances are–
1. Competitors
2. Complimentors
3. Influencers
2. Automation ‐ Lead automation in terms of communication, segmentation with your audience. Sales automation through automated webinar. Support automation have chatbot for customers questions. Systems where there are facilitator to answer questions and to clarify points. Deligation & Outsourcing your work.
3. Flywheel ‐ It is based around customer experience & satisfaction. As more & more customers are coming into digital ecosystem. If you are able to give them better experience in terms of quality of content, in terms of the way you conduct your sessions, gamification etc. With this they will get better results. So more customers with better experience leading to better results will then move them to build a better brand. So when customers are having a better experience and they are getting better results automatically a brand builts. When these 4 things happens that will help you to build more customers again.
4. Build Partnerships – Customers becoming your partner. Introduce it at a stage when you know you are getting results for other people. Your concept is proven in the marketplace and you have a loyal tribe. Share revenues with partners. Launch a partners contest.
5. Concepts Of Fractals – Everything has a input, process & output. Looking at every single area of business as a fractals. 80/20 rule is also applicable in our business. Map your entire business applying the fractals concepts & 80/20 rule. It will take your business to a whole new level.
6. Build Higher Ticket Products – Group coaching, masterminds, certification . Anything where people are paying $1000 above. You cannot be at lower zone for a very very long time. You have to graduate from that to moving your needle to the next level. Design a high value group coaching products, masterminds or certifications.
Amazing insights Sid. I personally felt the last point – The need to build high ticket product – was an eye opener. Wonderful insights on alliance with competitors and complementors. Enjoyed your podcast.
#ilhdeeplearner
1. Build Alliances
a. Competitors – Instead Of Competing With Your
Competitors Build Healthy And Profitable Alliances With
Them
b. Complimentor
c. Influencers
2. Automation
a. Lead
b. Sales
c. Support
d. Automate – Delegate – Outsource
3. Flywheel
a. Amazon – Based on Customer Experience & Customer
Satisfaction
b. Customer Attraction – Customer Experience – Customer
Results – Brand Building
c. Capacity to handle X number of customers & Having X
number of customers = More Customer Satisfaction
d. Capacity to handle X number of customers & Having 2X
number of customers = Less Customer Satisfaction
e. Amazon Flywheel
Sellers = Selections of Product = More Options to Customers = Customer Will Experience Good = More Traffic
Once This Cycle Will Grow = Lower Cost For Structure = Coz of Competition Lower Prices = Customer Will Experience Good And Cycle Goes On And On
f. Digital Coach Flywheel
Attract Customers => Great Experience => Demonstrate Results => Build Brand
g. Steps To Build Flywheel
i. Step 1 – Build A Solid Product
ii. Step 2 – Get Customer Feedback
iii. Step 3 – Improve Customer Experience
iv. Step 4 – Focus On Customer Result
v. Step 5 – Document Case Studies
vi. Step 6 – Build Brand Reputation
vii. Step 7 – Attract More Customers
viii. Step 8 – Collect More Customer Feedback
ix. Step 9 – Improve Customer Experience
x. Step 10 – Create More Results
xi. Step 11 – Go Back To Step 2
4. Build Partnership And Affiliate
a. Customers Become Your Partner
5. Fractals
a. Look At Every Piece of Business Is A Fractal
b. Input to Process to Output
c. 100% in Input Converted Into 20% into Process And Out Of
That 20% Will Be Output
For Example – 100 People Enquired => 20 Will Attend => 4
Will Buy The Product
6. Build Higher Ticket Products
a. $1000+
b. Group Coaching
c. Mastermind
d. Evaluation & Certification
e. Who Pay Higher Money They Will Take Action Fast
Good assimilation of the learnings. How to maximise profit.
How to Maximise Profit.
1. Develop alliances-
a. list your competitors- develop alliances to co-create
b. list your complementors- develop alliances. Complementors are those who are in the same business but not in direct competition.
c. List Influencers – develop an alliance.
2. Automate- without it, it is not possible to scale up.
a. Lead automation
b. sales automation
c. Support automation- delegation, outsourcing, Facilitating
3. Flywheel- to create a brand which moves the business.
a. generate leads
b. deliver values
c .get customers to experience the value.
d. customers get satisfied.
e. customers get results.
f. brand gets created.
g. cycle continues-customer attraction- customers get interested- customers get the desire to buy- customers buy.
4. Partnership- develop partnerships with successful customers to get leads and share profit.
5. Fractals- treat every part of the process as a fractal of input-process-output and apply the 80:20 principle between the input to output. Lead generation, sales, success rate.
6. Make one Low ticket and also a high ticket product to maximise profit-
a. High ticket Group coaching
b. mastermind
c. Evaluation and certification
with a caution that, it has to come after sufficient experience in learning what are the pain points and what the customers want for the results.
Good takeaways, Janardhan!
ways to maximize your profits.
it is not just about the price point but it is about high value.
this is not just about revenues…you can win revenue goals when you use ads and tools and stuff like that
how much you keep after paying for digital infrastructure and tools etc is very important.
6 WAYS TO IMPROVE YOUR PROFITABILITY TO MAXIMUM:
1. How to tap into the power of alliances?
have to have broad mindset, abundance mindset, open minded approach in order to build alliances.
You have to look into 3 areas:
a) Competitors: direct competitors in your space. make a list. Keep an open mind that there is room for everyone otherwise that’s where the problem occurs. analyse the competition and try to create an alliance by forming simple whatsapp group.
b) Complemetors: they are the people who has same audience as you but are not necessarily in competition with you.
c) Influences: there are various influencers based on various platform. eg: instagram, podcasts, YouTube,etc. Analyse what can be the win win in that alliance.
2. How to effectively use automation?
automation mastery course…lead, sales, support automation. and there is another layer to automation i.e. delegation outsourcing.
create mindspace to think about expansion and new things for business and way to do that is by automation.
so profitability and sustainability happens when you will be able to automate, outsource and delegate.
3.How to apply the flywheel to maximize profits?
flywheel idea is from Amazon and is based on customer experience and customer satisfaction.
customer attraction + better customer experience = better results ???? better community brand ???? more customer attention.
work on all the above areas to maximize the profits.
brand building happens when more and more customers voice out. their feedback and perceptions build more confidence about the products then branding happens.
generate more and more success stories and branding will happen that will help bring more customers.
4. How to build partnerships and affiliates the right way?
partnerships are different than alliance building.
building your own partner program..customers being your partners. partner programs are affiliate marketing program.
Amazon has grown to being no 1 because of its affiliates.
so via partner programs you give your customers whole system and assets to promote your products as affiliate.
introduce partner program at a stage when you know you are getting results, your concepts are proven in market space and you have loyal tribe who believe and trust in you and will help you move forward.
also the partner contest will be cherry on the cake. to speed things up. gamify the partner programs. which will offer them additional bonus other than commissions.
5. How to learn from nature and apply the concept of ‘fractals’ in your business?
Everything has input, process and output.
Fractalizing your business: looking at every single area of business as fractal.
EXAMPLE 1: LEAD FRACTAL
a) Input: what kind of ads am I writing..
b) Process: how are people going to click the links and give the information
c) Output: capturing the lead efficiently.
EXAMPLE 2: SALES/ WEBINAR FRACTAL
a) Input: how many leads have been generated for webinar
b) Process: how many people are actually there inside the webinar.
c) Output: how many sales have I generated from the webinar.
EXAMPLE 3: COMMUNITY FRACTAL
a) Input: orientation videos to give them roadmap and a start.
b) Process: connectivity and connection with community. example: meetups, weekly hackathons and inner circle calls to address customers needs.
c) Output: community being able to make results,money.
there is always 80:20 rule applicable as we go from input to process and process to output. if 100 leads generated then 20 will be there for webinar and only 4 will turn into sales.
fractalize, apply 80:20 and tweak each process in order to maximize the profits.
6. How to build high ticket products to increase profitability and impact?
example: group coaching, masterminds, certifications, anything for which people are paying atleast $1000 for.
effort to sell high ticket product and effort to sell low ticket products is same. design really high value product which can be in any form for example group coaching.
premature availability of high ticket products is not advisable. you have to have value to deliver at that level.
Don’t be cheap on your way to greatness.
#ilhdeeplearner
#ILHDEEPLEARNER
Profitability idea 1 : Collaboration: Need to be broad minded to grow in business, Do not
do competition, other than that make an alliance with your
competitors/influencers and exchange ideas and collaborate, this is exactly
google strategy regarding competitors.
Profitability idea 2: Automation : automating lead generation, sales, and support
and delegating these works to other people will make you free from
those tasks and we can concentrate on our core product and tribe building
Profitability idea 3: Customer Satisfaction and brand building: getting results to
our customer will drive more customers, and we can be profitable.
Profitability idea 4: Build Partnership : Turn your customers into partners
thereby they can promote our products, acquire customers and share the revenue
with partners. Organize Partner Contests.
Profitability idea 5:Fractals:input-process-output
lead fractal,sales fractal, 80:20 rule applies here,
look every business aspects as fractals.
Profitabilty idea 6: Build High Ticket Products
Effort to sell high ticket and low ticket products are
same so go for high ticket products with good quality.
Awesome!This is just the beginning 🙂 More power to you!
https://siddharthrajsekar.com/maximize-profits/
6 Ways to Maximise profit for your Coaching business –
The coaching business is a long tern success game and business. One may start with small ticket size and entry level courses – but one cannot be there for a long time, and aspire long term success. Let me explain in a detailed manner.
While talking to some of the Freedom Finishers in our leadership council – we have found that some achievers are able to make 4X to 5X, as an ROI on their investment, while others are just able to break even on their cost. On going deep – I have had some very important discoveries.
Sidz has been consistently been able to make 4X to 5X as a return on his investments in the business, consistently. His mentor Sidz has been able to achieve 10 X to 11 X. WHAT IS THE SECRET INGREDIENT?
Keeping an eye on your daily & weekly and monthly revenue – is of utmost importance.
Below are 6 points – which will take your income & profit in the coaching business, to a different level all together.
6 ways to maximise Your Profit in Coaching & Consulting Business –
1. Build Alliances – Do not be in a narrow mind set approach towards competitors. Look at 3 areas to work upon – Competitors / Complimentors & influencers. Have an abundance minded approach, know and believe that there is room for everyone in this game. Do not get into scarcity mind-set. Starting simple whatsapp group, with your competitors, like what Sidz did with – digital heroes of india – can prove to be a game changer. In Digital Heroes of India whatsapp group – All 9 of them came together, Competitor spirit moved into collaborator spirit, and all of them grew so well.
Complimentors have same audience as you – but they are not your competition. an auditor or financial and operational advisor to clients, can be your Complimentor. Bring them into alliance. They can gice service to your tribe, and your tribe can be benefited, and you can benefit as well.
Influencers can be many – see for win win in that relationship – invite influencers in community – and then ask them to share some additional advice and help them get on, with their own funnel, or lead generation, in the process. As the relationship gets stronger – your visibility also grows in their influence group. Sidz shares an example of how – One of the influencer added values to Sidz group – on how to manage their money – and Sidz added value in their group – as to how to make / create money – perfect alliance. Lot of people from that session ended up coming to Sidz session.
2. Automation – Automation mastery course is a amazing course in Sidz School. One can become a diamond member, and go through the course. Lead automation /sales automation / support automation – are some of the automation mastery topics, to master. The school in Sidz courses, has a Chabot, which has more than 200 pre-loaded questions – this reduces lot of exchange of emails, with respect to queries that students have. Having automated customer support as well – is also another feature. Some facilitators – they also question once a week to clarify their points of students.
There is second layer of automation – which is – delegation & outsourcing. These are the ones which are not the highest area of impact – Sidz has been able to delegate them now, due to good cash flow in his business now. It saves lot of time for Sidz now – example fb ads – the headache and the mindshare, which was getting taken away by these non delegated tasks earlier, is now getting utilised by Sidz, to build a newer vision for his community.
3. Digital coach Fly wheel – this concept is from amazon – Based around customer support and customer experience – to give them a better experience. Part of the whole elevation process is the experience is the “GAMIFICATION” as a 3rd step. Once customer get better experience, they will get better results, which ends up adding more customers with better experience and better results – THIS ULTIMATELY BUILDS A BETTER BRAND.
And when these 4 happens – this will help you get more customers again – so work on all these 4 areas. More and more people go and watch Sidz interview – hall of fame – and hence, due to the results getting shown there, better perceptions are getting build – and hence, personal brand building happens much better. This will automatically help you more customers. This whole process will help you move the needle much better.
4. Build Partnerships – alliances are different from partnerships – building your own partner programme / affiliate programme, is the key here. Your customers becoming part of your own partner programme. One has to build his / her own affiliate programme. So your customers become your promoters. Give them lot of assets to take care of the promotion part. Make their journey of promotion very easy.
Give Free course – let all new customers enter through these free courses, and these will ultimately get hardwired to the person who brought in the customer, and all the lifetime sales of the new customer, are automatically hard wired to the partner person. Do this when your concept is proved in the market place. Share revenues with your partners. And cherry on the cake is to launch a partner contest – if within 90 days – they achieve a certain number of sales – they get additional gifts. “The concept is gamification” – that becomes a very powerful game of leading and winning in the game. The get commissions and bonuses.
5. Fractals – Sidz has got this concept from his mentors – Fractals are visibly seen in nature – a tree is also there in the leaf – the shape and structure of the tree is in the leaf. Everything has an input and an output – this podcast is also the same – business is also the same – our body is also the same. The way to fractalise the business – is to look at every part of business is to look at fractals – patterns which can be synced and made to look and work like connected parts – parts of the same one.
Check the whole process – What is input for my lead collection – and – how are people clicking my leads – and how are they are getting in. So for webinar – input to process – process to output – there is a pattern – one will observe a pattern. Also – there is this pareto principle rule – the 80 / 20 rule is also at play here. 20 % of your customers will give you 80 % of business. 20 % of your course enrollers, will finish the course in record time, and so on. When you are able to map your business – applying fractals and 80 / 20 rules, you will be able to take the business to a next level. Check everything – how am I taking care of the my community – how am I making sure people complete the course. Input / process / output – correct it – correct it everywhere. Tweak each process –and tweak it to make it better.
6. Build higher ticket programmes – This is also the master key to success – Group coaching / master minds / certifications – at least $ 1000 and above, are the key to long term good success & good profit. Low ticket will not help for a long time – do push it – not pushing it is going to prove fatel in the long run. Whatever revenues you are generating are going to go in ad spends – you cannot be in that sphere of low ticket courses from a very long time.
For that you got to build higher ticket products. Diamond is 1 lac per year, with Sidz now. Every single person who has achieved the hall of fame – are from diamond. It is also observed that, people who want to pay – are usually more serious – and get more results and faster results in this industry. Coming back to productivity – design high value group coaching / or mastermind / or a certification process – when you charge above RS. 50,000 or / RS. 100 000 – it is good – some good mentors around the world charge $ 40,000 a year – they just have 100 spots in a year – and they are able to fill them up so fast. That is the power of building high ticket product. But do not make the product – till you are really mature to that level. In starting do lot of one to one coaching with your students, this will help you make a master of your niche & will definitely help you in creating your Diamond level – high level course.
MY TOP 3 TAKE AWAYS OF THE PODCAST –
(A) Have your Level 1 & Level 2 Ready – at the same time, when you start out, and – try to have your level 3 ready in the next 90 to 12 days max – to be able to have fast success in the business.
(B) Do lot of One to Ones, very early on in the game – this shall help you become the master of your craft & master of your niche. You will have answers to almost all the questions, your Tribe or your niche is going to ask – when they reach the diamond level.
(C) Do not try to climb alone – utilize the power of collaborations – and that will make you reach the top, much earlier, and without getting worn out.
#ILHDeepLearner , #ilhdeeplearner
Super points Manish!
My takeaway from this podcast
Build alliance
– competitions
– compliments
– influence
Automation
– lead automation in terms of communication
– segmentation with your audience
– sales automation through automated webinar
– support automation have chatbox for customer questions.
– system where there are facilitors to answer question and clearify Doubts and points
Digital coach flywheel
– build a solid products
– get Customer feedback
– improve customer experience
– focus on Customer results
– document case studies
– build brand reputations
– attract more customers
– collect more customer feedback
– Improve customer experience
– create more results
– get customer feedback
Build partnership
Concept of fractals
– everything have input and output
– looking at every area of business
– 80/20 rule
– map your entire business applying the fractals
Build higher ticket products
Thanks a ton,Inder ! More power to you!
Wow
Thankyou Sid for such deep insights.
My take aways :
It’s not just about revenues . How much you keep is a measure you need to see.
6 ways to maximize profitability
1) Build Alliances :
A)look at 3 areas competitors, complimentors ( auditor or financial consultant) similar audience and influencers ( ig influencers, podcast influencers)
Make an alliance and collaborate in order to help each other by adding values and increasing visibility and hence your business.
B)Have an open and abundance minded approach because remember there is space for everyone.
2) Automation :
A) Lead automation
B) Sales automation – automated webinars
C) Support automation -chat bot, member support
D) Delegation or Outsourcing – if you have cash flow. Eg Advertising (Fb and Google ads)
3) FLYWHEEL :
A) Idea from Amazon
B) Based on customer experience
Using Gamification etc
More customers having a better experience leading to better results and hence better brand and community.
Customer attraction , Experience, Results , Brand Building
4) PARTNERSHIPS :
Customers who become your partner. I
Introduce it at a stage when you know you are getting results for other people.
Prove your concept at the marketplace and make them tribe followed by sharing the revenues with partners.
Launch Contests for partners.
5. FRACTALS:
Everything has a input, process & output.
Looking at every single area of business as a fractals.
80/20 rule is also applicable in our business.
Mapping your entire business using 80/20 rule gives a new dimension all together.
6. BUILDING HIGHER TICKET PRODUCTS :
Group coaching
masterminds
certification
Anything where people are paying $1000 above.
You cannot be at the same zone for a long time.
Graduate to the next level.
Move your needle and design high value product and hence chance your game.
Thankyou Sidz!
#ilhdeeplearner
#ilhdeeplearner
Wonderful content given sidz!!
My learnings for the same are:
6 ways to Maximize profits as a digital coach:
1. Build alliance: Build a platform for all the competitors where instead of working on competitive approach you can work as a collaborators and help each other growing with a healthy competition.
2. Automation: Build a automated paltfrom to sell and promote your products so that you can give more time to scale your business to a different level. Decentralization will work effectively.
3. Fly wheel Approach: Build customers first , give service to them, build your brand and get more customers. This concept is very powerful for brand building. And this cycle will give you magical results and scalability.
4. Partners : Build partnership in your business. By doing the same you can sale your products through your partners by giving them share in profits.
5. Fractal : Divide every aspect of your business in small fractions and nurture every single fraction like a baby.
6. Build high ticket products: In order to build more profits one has to build high ticket products to cream customers only.
Super Useful Insights SIDZ
My takeaway from this podcast
1. Build Alliances –
3 areas to build alliances
1. Competitors
2. Complimentors
3. Influencers
analyze and create Alliance with them, help each other by adding values
2. Automation –
automate every aspect of your business
A) Lead automation – communication
B) Sales automation – automated webinars
C) Support automation – chat bot
D) Delegation Outsourcing – cash flow like Fb and Google ads
3. Flywheel –
A) Idea from Amazon
B) Based on customer experience & satisfaction, better experience in terms of quality of content, the way you conduct your sessions, and gamification within community
C) More customers having a better experience leading to better results and
D) build better brand and community.
work on these 4
-Customer attraction,
-Customer Experience,
-Customer Results, and
-Brand Building
4. Build Partnerships –
alliances are different than partnerships
build you own partner program
Customers who become your partner
ask them to promote your free course
introduce partner program at a stage when you know you are getting results
concepts are proven in market space
have loyal tribe who believe and trust in you and will help you move forward
Share revenues with them
5. Concepts Of Fractals –
Everything has a input, process and output
Looking at every single area of your business as a fractal
80/20 rule applicable
It takes your business to whole new level
6. Build Higher Ticket Products
to maximize profitability
build higher ticket product like $1000 products
-Group coaching
-masterminds
-certification
effort to sell high ticket product and effort to sell low ticket products is same
create high value group coaching, mastermind, or a certification process
and charge people above 50000 or 100000
but, DO NOT prematurely build high ticket product
unless you have that much quality goods to be delivered
experience at least first six month for Level 1 and 2
have lots of 1-2-1 within community
and experience them to build your high level product
Super Useful Insights SIDZ
#ilhdeeplearner
My takeaway from this podcast
1. Build Alliances –
3 areas to build alliances
1. Competitors
2. Complimentors
3. Influencers
analyze and create Alliance with them, help each other by adding values
2. Automation –
automate every aspect of your business
A) Lead automation – communication
B) Sales automation – automated webinars
C) Support automation – chat bot
D) Delegation Outsourcing – cash flow like Fb and Google ads
3. Flywheel –
A) Idea from Amazon
B) Based on customer experience & satisfaction, better experience in terms of quality of content, the way you conduct your sessions, and gamification within community
C) More customers having a better experience leading to better results and
D) build better brand and community.
work on these 4
-Customer attraction,
-Customer Experience,
-Customer Results, and
-Brand Building
4. Build Partnerships –
alliances are different than partnerships
build you own partner program
Customers who become your partner
ask them to promote your free course
introduce partner program at a stage when you know you are getting results
concepts are proven in market space
have loyal tribe who believe and trust in you and will help you move forward
Share revenues with them
5. Concepts Of Fractals –
Everything has a input, process and output
Looking at every single area of your business as a fractal
80/20 rule applicable
It takes your business to whole new level
6. Build Higher Ticket Products
to maximize profitability
build higher ticket product like $1000 products
-Group coaching
-masterminds
-certification
effort to sell high ticket product and effort to sell low ticket products is same
create high value group coaching, mastermind, or a certification process
and charge people above 50000 or 100000
but, DO NOT prematurely build high ticket product
unless you have that much quality goods to be delivered
experience at least first six month for Level 1 and 2
have lots of 1-2-1 within community
and experience them to build your high level product
Super Useful Insights SIDZ
#ilhdeeplearner
My takeaway from this podcast
1. Build Alliances –
3 areas to build alliances
1. Competitors
2. Complimentors
3. Influencers
analyze and create Alliance with them, help each other by adding values
2. Automation –
automate every aspect of your business
A) Lead automation – communication
B) Sales automation – automated webinars
C) Support automation – chat bot
D) Delegation Outsourcing – cash flow like Fb and Google ads
3. Flywheel –
A) Idea from Amazon
B) Based on customer experience & satisfaction, better experience in terms of quality of content, the way you conduct your sessions, and gamification within community
C) More customers having a better experience leading to better results and
D) build better brand and community.
work on these 4
-Customer attraction,
-Customer Experience,
-Customer Results, and
-Brand Building
4. Build Partnerships –
alliances are different than partnerships
build you own partner program
Customers who become your partner
ask them to promote your free course
introduce partner program at a stage when you know you are getting results
concepts are proven in market space
have loyal tribe who believe and trust in you and will help you move forward
Share revenues with them
5. Concepts Of Fractals –
Everything has a input, process and output
Looking at every single area of your business as a fractal
80/20 rule applicable
It takes your business to whole new level
6. Build Higher Ticket Products
to maximize profitability
build higher ticket product like $1000 products
-Group coaching
-masterminds
-certification
effort to sell high ticket product and effort to sell low ticket products is same
create high value group coaching, mastermind, or a certification process
and charge people above 50000 or 100000
but, DO NOT prematurely build high ticket product
unless you have that much quality goods to be delivered
experience at least first six month for Level 1 and 2
have lots of 1-2-1 within community
and experience them to build your high level product
#ilhdeeplearner#
My learnings from this podcast are
It’s not, just about creating revenues but about the X that I am able to make . For this follow these points
1. Build Alliance
Your build alliance with these areas
A. Competitors
B. Complementors who have the same audience
C. Influencers
Always take open minded approach instead of competitive attitude
2. Automation should be like generate leads, makes sales and continue giving support
So automate,the system, delegate and outsource certain activities
3.flywheel technique
Base your service on the customer satisfaction and experience
Provide quality products, gamification etc
4.build partnership
Affiliate program to your customers
5. apply Fractals
Emphasis on 80/20 principles for taking your business to a whole new level
6
Build high ticket products
This may be a group coaching, mastermind, certifications.
Thus follow all the above principles, and build a subscription model business, providing value to your customers and building your business
Thank you Siddharth for this wonderful podcast. The topic you explained is so useful. The tips are so very practical. My learnings from this episode are
1 Don’t be a frog- complimetors, competitors, influencers are are important and play a role in building alliances.
2. I must upgrade to Diamond and learn the techniques of automation which is an essential tool.
3. Customer attraction- customer satisfaction-customer results – build a brand the flywheel formula.
4. We need partners in our business
5. Input – process – output is the rule for fractals, 80 – 20 formula
6. Group coaching/ mastermind/ certification are the tools for high ticket products.
Once again thank you for these bulb on moments.
My learnings from this podcast are–
1. Build Alliances – When you are on your own trying to grow your business in own well thinking that it is the world without knowing that there is an ocean out there. If you are in that narrow minded mindset there is no way to increase your profit.
3 areas to build alliances are–
1. Competitors
2. Complimentors
3. Influencers
2. Automation ‐ Lead automation in terms of communication, segmentation with your audience. Sales automation through automated webinar. Support automation have chatbot for customers questions. Systems where there are facilitator to answer questions and to clarify points. Deligation & Outsourcing your work.
3. Flywheel ‐ It is based around customer experience & satisfaction. As more & more customers are coming into digital ecosystem. If you are able to give them better experience in terms of quality of content, in terms of the way you conduct your sessions, gamification etc. With this they will get better results. So more customers with better experience leading to better results will then move them to build a better brand. So when customers are having a better experience and they are getting better results automatically a brand builts. When these 4 things happens that will help you to build more customers again.
4. Build Partnerships – Customers becoming your partner. Introduce it at a stage when you know you are getting results for other people. Your concept is proven in the marketplace and you have a loyal tribe. Share revenues with partners. Launch a partners contest.
5. Concepts Of Fractals – Everything has a input, process & output. Looking at every single area of business as a fractals. 80/20 rule is also applicable in our business. Map your entire business applying the fractals concepts & 80/20 rule. It will take your business to a whole new level.
6. Build Higher Ticket Products – Group coaching, masterminds, certification . Anything where people are paying $1000 above. You cannot be at lower zone for a very very long time. You have to graduate from that to moving your needle to the next level. Design a high value group coaching products, masterminds or certifications.
#ilhdeeplearner
Thankyou Sid for such deep insights.
My take aways :
It’s not just about revenues . How much you keep is a measure you need to see.
6 ways to maximize profitability
1) Build Alliances :
A)look at 3 areas competitors, complimentors ( auditor or financial consultant) similar audience and influencers ( ig influencers, podcast influencers)
Make an alliance and collaborate in order to help each other by adding values and increasing visibility and hence your business.
B)Have an open and abundance minded approach because remember there is space for everyone.
2) Automation :
A) Lead automation
B) Sales automation – automated webinars
C) Support automation -chat bot, member support
D) Delegation or Outsourcing – if you have cash flow. Eg Advertising (Fb and Google ads)
3) FLYWHEEL :
A) Idea from Amazon
B) Based on customer experience
Using Gamification etc
More customers having a better experience leading to better results and hence better brand and community.
Customer attraction , Experience, Results , Brand Building
4) PARTNERSHIPS :
Customers who become your partner. I
Introduce it at a stage when you know you are getting results for other people.
Prove your concept at the marketplace and make them tribe followed by sharing the revenues with partners.
Launch Contests for partners.
5. FRACTALS:
Everything has a input, process & output.
Looking at every single area of business as a fractals.
80/20 rule is also applicable in our business.
Mapping your entire business using 80/20 rule gives a new dimension all together.
6. BUILDING HIGHER TICKET PRODUCTS :
Group coaching
masterminds
certification
Anything where people are paying $1000 above.
You cannot be at the same zone for a long time.
Graduate to the next level.
Move your needle and design high value product and hence chance your game.
Thankyou Sidz!
My takeaways from this podcast-
6 ways to maximize my profit;
1. Build alliances: Analyze all competitors. make them collaborators
2. Automation: Lead automation, sales automation, support automation, facilitators and delegation outsourcing
3. Flywheel concept of Amazon: Based on customers’ experience. Customer attraction, customer’s experience, customer’s result and brand building
4. Build partnership: Customers becoming partners
5. Fractals concept: Input + process + Output
5. Build higher ticket product
#ilhdeeplearner
To maximize profit in a business really has a science to it. It also depends how you see or nurture your community. How much money one is making doesn’t matter really instead what’s your “X” that’s where the traction is. After removing all your expenses for tools, Ad’s spent and taxes, what is left behind with you matters a lot.
We could consciously make a profitable business by incorporating the following steps:
1. Building Alliances-
Don’t be a Dr. Frog who is happy in his own environment instead make or build alliances to grow faster. For this we need to look at the three areas. And for this to implement we need to have an abundance mindset.
I). Competitors – By creating a WhatsApp or Telegram group with your competitors and share there ideas once in a week to collaborate in future. Bcoz there is a space for all in the market.
II). Complimentors – One who has same audience as of yours as you both may be providing different services to the same audience. Collaborate with them.
III). Influencers – Collaborate with Instagram, Podcast, YouTube influencers to have win win situation for both of you. They could come to your community for free to add some value and in the end they could give away some tools or tips to your audience.
2. Do Automation (to build your community)
I) Lead Automation – Communication & Segmentation
II) Sales Automation – Webinar
III) Support Automation – Chatbot (200 pre loaded questions), Facilitators (Meet Ups, Ask Me Anything)
(IV) Deligate Outsourcing
3. Fly Wheel (Like Amazon)
Based on customer experience & customer satisfaction
Give them better customer experience in terms of better quality of products/webinar/gamification)
“MORE CUSTOMERS WITH BETTER EXPERIENCE LEADS TO BETTER RESULTS WHICH IN TURN BUILD A BETTER BRAND”
By building a brand you will again get more customers that’s the concept of FLYWHEEL.
A) Customer Attraction
B) Customer Experience
C) Customer Results
D) Building ba Brand
Brand builds when more and more customers are going to voice out for you. And this happens with lot of success stories you build. (Eg. Hall of Fame interviews)
Which in turn builds the TRUST in the market place.
4. Build Partnerships/Affiliates
Your Customers become your partners
Give them assets like videos and your content to help them to connect it with their audience.
Do share the REVENUES to get them motivated.
Run Partner Contests – If they achieve ‘x’ number of sales/referrals in 90 days give them some gifts (Mac book/Aura rings) in addition to the commissions they made to motivate them further and other partners.
5. Fractals (visibly seen in nature – Shape of tree)
Input – Process – Output
(Daily meet ups/Hackathon/Inner Circle to get them results)
See every area of business as a Fractal.
A) Lead Fractal
B) Sales Fractal
C) Facebook Ads
D) Landing Page
80-20 rule will be there in every process.
6. Build Higher Ticket Product ($ 1000-2000)
Mastermind, Consulting, Group Coaching, Certification Process
To reach to the Freedom level.
People who do Higher Tickets are more serious than those who play in a lower level or wants to save money.
But do not do it if you don’t have really a great product with you.
Donot be cheap in your journey towards greatness !!
You have a moral authority only if you also buy the high ticket products to transform your life.
Thanks you Sidz for sharing such a vital information in this Podcast… Looking forward to achieve my next goal under your awesome mentorship.
#ilhdeeplearner
To maximize profit in a business really has a science to it. It also depends how you see or nurture your community. How much money one is making doesn’t matter really instead what’s your “X” that’s where the traction is. After removing all your expenses for tools, Ad’s spent and taxes, what is left behind with you matters a lot.
We could consciously make a profitable business by incorporating the following steps:
1. Building Alliances-
Don’t be a Dr. Frog who is happy in his own environment instead make or build alliances to grow faster. For this we need to look at the three areas. And for this to implement we need to have an abundance mindset.
I). Competitors – By creating a WhatsApp or Telegram group with your competitors and share there ideas once in a week to collaborate in future. Bcoz there is a space for all in the market.
II). Complimentors – One who has same audience as of yours as you both may be providing different services to the same audience. Collaborate with them.
III). Influencers – Collaborate with Instagram, Podcast, YouTube influencers to have win win situation for both of you. They could come to your community for free to add some value and in the end they could give away some tools or tips to your audience.
2. Do Automation (to build your community)
I) Lead Automation – Communication & Segmentation
II) Sales Automation – Webinar
III) Support Automation – Chatbot (200 pre loaded questions), Facilitators (Meet Ups, Ask Me Anything)
(IV) Deligate Outsourcing
3. Fly Wheel (Like Amazon)
Based on customer experience & customer satisfaction
Give them better customer experience in terms of better quality of products/webinar/gamification)
“MORE CUSTOMERS WITH BETTER EXPERIENCE LEADS TO BETTER RESULTS WHICH IN TURN BUILD A BETTER BRAND”
By building a brand you will again get more customers that’s the concept of FLYWHEEL.
A) Customer Attraction
B) Customer Experience
C) Customer Results
D) Building ba Brand
Brand builds when more and more customers are going to voice out for you. And this happens with lot of success stories you build. (Eg. Hall of Fame interviews)
Which in turn builds the TRUST in the market place.
4. Build Partnerships/Affiliates
Your Customers become your partners
Give them assets like videos and your content to help them to connect it with their audience.
Do share the REVENUES to get them motivated.
Run Partner Contests – If they achieve ‘x’ number of sales/referrals in 90 days give them some gifts (Mac book/Aura rings) in addition to the commissions they made to motivate them further and other partners.
5. Fractals (visibly seen in nature – Shape of tree)
Input – Process – Output
(Daily meet ups/Hackathon/Inner Circle to get them results)
See every area of business as a Fractal.
A) Lead Fractal
B) Sales Fractal
C) Facebook Ads
D) Landing Page
80-20 rule will be there in every process.
6. Build Higher Ticket Product ($ 1000-2000)
Mastermind, Consulting, Group Coaching, Certification Process
To reach to the Freedom level.
People who do Higher Tickets are more serious than those who play in a lower level or wants to save money.
But do not do it if you don’t have really a great product with you.
Donot be cheap in your journey towards greatness !!
You have a moral authority only if you also buy the high ticket products to transform your life.
Thanks you Sidz for sharing such a vital information in this Podcast… Looking forward to achieve my next goal under your awesome mentorship.
#ilhdeeplearner
To maximize profit in a business really has a science to it. It also depends how you see or nurture your community. How much money one is making doesn’t matter really instead what’s your “X” that’s where the traction is. After removing all your expenses for tools, Ad’s spent and taxes, what is left behind with you matters a lot.
We could consciously make a profitable business by incorporating the following steps:
1. Building Alliances-
Don’t be a Dr. Frog who is happy in his own environment instead make or build alliances to grow faster. For this we need to look at the three areas. And for this to implement we need to have an abundance mindset.
I). Competitors – By creating a WhatsApp or Telegram group with your competitors and share there ideas once in a week to collaborate in future. Bcoz there is a space for all in the market.
II). Complimentors – One who has same audience as of yours as you both may be providing different services to the same audience. Collaborate with them.
III). Influencers – Collaborate with Instagram, Podcast, YouTube influencers to have win win situation for both of you. They could come to your community for free to add some value and in the end they could give away some tools or tips to your audience.
2. Do Automation (to build your community)
I) Lead Automation – Communication & Segmentation
II) Sales Automation – Webinar
III) Support Automation – Chatbot (200 pre loaded questions), Facilitators (Meet Ups, Ask Me Anything)
(IV) Deligate Outsourcing
3. Fly Wheel (Like Amazon)
Based on customer experience & customer satisfaction
Give them better customer experience in terms of better quality of products/webinar/gamification)
“MORE CUSTOMERS WITH BETTER EXPERIENCE LEADS TO BETTER RESULTS WHICH IN TURN BUILD A BETTER BRAND”
By building a brand you will again get more customers that’s the concept of FLYWHEEL.
A) Customer Attraction
B) Customer Experience
C) Customer Results
D) Building a Brand
Brand builds when more and more customers are going to voice out for you. And this happens with lot of success stories you build. (Eg. Hall of Fame interviews)
Which in turn builds the TRUST in the market place.
4. Build Partnerships/Affiliates
Your Customers become your partners
Give them assets like videos and your content to help them to connect it with their audience.
Do share the REVENUES to get them motivated.
Run Partner Contests – If they achieve ‘x’ number of sales/referrals in 90 days give them some gifts (Mac book/Aura rings) in addition to the commissions they made to motivate them further and other partners.
5. Fractals (visibly seen in nature – Shape of tree)
Input – Process – Output
(Daily meet ups/Hackathon/Inner Circle to get them results)
See every area of business as a Fractal.
A) Lead Fractal
B) Sales Fractal
C) Facebook Ads
D) Landing Page
80-20 rule will be there in every process.
6. Build Higher Ticket Product ($ 1000-2000)
Mastermind, Consulting, Group Coaching, Certification Process
To reach to the Freedom level.
People who do Higher Tickets are more serious than those who play in a lower level or wants to save money.
But do not do it if you don’t have really a great product with you.
Donot be cheap in your journey towards greatness !!
You have a moral authority only if you also buy the high ticket products to transform your life.
Thanks you Sidz for sharing such a vital information in this Podcast… Looking forward to achieve my next goal under your awesome mentorship.
1. Build alliances- move in to the ocean don’t sit in your own well. Alliances with
Competitors/ complementors / influencers.
2. Automation – Leads, sales, support. Delegate and outsource stuff to lighten yourself and get space.
3. Fly wheel – Customer experience and satisfaction. Lead to better results. Brand building. Make the customers speak up and comment. Build success stories.
4. Build Partnerships – Affiliations, references by the partners, build your loyal tribe. Organize competitions, gamification, incentives & bonuses.
5. Fractols – Input- process – output. Analyzing the inputs, process & output 80/20 rule is applicable. What is given, what value is given and results are produced.
6. Maximize – Build high ticket courses. To spend have to earn. Effort is the same to sell. So build a value based one with high ticket.
Excellent way to summarize what to do and how to scale yourself.
You have to build yourself and authority only comes if you invest yourself.
Thank you Siddharth for this very insightful podcast.
As a digital coach when you are building your business – its not only important to add value to your customers but you must also focus on building a profitable business.
You may earn selling courses and building a tribe but if you are not able to be profitable for the time and effort you invest, then you will not be happy in continuing what you are doing. You can achieve the financial goal as they are just numbers but are you really profitable if not you need to focus on making the changes and fixes that are necessary.
There are 6 ways where you can build your profitable coaching business:
Build alliances : First way is to have the right mindset in growing your business. Instead of having a narrow minded approach, focus on building alliances. Through building alliances you can tap in more revenue generation. When it comes to building alliances there are 3 areas that you can tap:
Competitors – whom you think as direct competitors in your domain. Actually competition is a myth. There is room for everyone it is just the narrow mindset of seeing them as a threat. Instead focus on collaborating with them, where you fill their strengths into your weakness and fill your strengths in their weakness. That way you will be offering a very powerful solution to the people and will be able to add more value than before.
Complimenters – people who are serving the same type of audience similar to your business. For Ex: You may be a business coach helping businesses in their growth and there may be a financial expert who helps business owners manage their finances effectively. So when you collaborate with complimenters you can offer additional coaching solution to your customers and so will be able to get additional revenue with the same audience that you have
Influencers – In influencers there are many platform based influencers such as YouTube Influencers, Podcast Influencers and so on. You can collaborate with them on a win win model to add value to your community. Here you are giving visibility to the influencers and in turn you will get visibility to the influencer’s audience
Automation: Automation helps you to reduce your time in operations. There are various kinds of automation. For ex: lead automation, sales automation, support automation and so on. Wherever possible if you are able to automate, you will have more time in building your business. You can also delegate outsource when you start having cash flow so that you can focus on high value and high impact work. Profitability and sustainability will be possible when you are able to automate, delegate and outsource
Flywheel business model: This model is based on customer satisfaction as the core of building your business and this is the business model of Amazon. As more and more customers are coming into your digital ecosystem, if you give them better experience in terms of quality of content or the way you conduct sessions and that will lead to getting better results for your customers. So more customers getting better experience who get better results will in turn build a brand. This in turn will help you get more customers again. So it becomes like a cycle and that is the reason it is called as flywheel model. If you really want to maximise your profitability you need to focus on building a flywheel business model. If not you will be grinding to grow your business.
Build partnerships – Partnership is building your own partners where your customers becomes your partners – it is like an affiliate program, where you share your revenues, this method will work well once you are comfortable and confident about your product which is giving results to your customers, the concept is proven in the marketplace, and most importantly you must have a loyal tribe which will help you in spreading your business model.
Apply the concept of Fractals: Fractals is a concept of what you put is what you get. In other words – if you expect a result that you desire, then you need to put the right mindset and the right concept to generate the result. You can see every area of business based on fractals – there is input, process and the output. For ex: In webinar – you have number of leads registered which is the input, the process is number of attendees for the webinar and output is the sales that you generate. In each of the stages there is 80 / 20 principle applicable. For ex; 20% of people attending the webinar will be buying your product. This approach gives a whole new opportunities and possibilities of tweaking your offer when you apply fractals into it. You will know where you need to tweak and after the corrections done you will be able to see better result. So applying concept of fractals will help you in becoming more profitable
Build high ticket products to maximise your profitability. It can be group coaching or certification products for high ticket. If you are selling only low ticket products then you will be only breaking even and will not reach to profitability stage. Because your expenses on tools and ads will consume most part of your revenue that you are generating. It is fine in the beginning stage of your business but you must not be there for long. So build high ticket products. Also people who pay for high ticket products are serious in what they and they are the one who will get results. Most importantly the effort to see a low ticket product and effort to sell high ticket product is the same. So focus on designing high value coaching product or mastermind. You must be able to charge people above Rs.50,000- is typically a high ticket product, you can also have super high ticket as well. You can design high ticket product when you are in a position to help people get result and understanding your market very well
If you implement these 6 ideas you will be able to build a coaching business which can generate 7x – 10x revenue in the next 12 months
Good assimilation of the learnings. How to maximize profit.
How to Maximize Profit.
1. Develop alliances-
a. list your competitors- develop alliances to co-create
b. list your complementors- develop alliances. Complementors are those who are in the same business but not in direct competition.
c. List Influencers – develop an alliance.
2. Automate- without it, it is not possible to scale up.
a. Lead automation
b. sales automation
c. Support automation- delegation, outsourcing, Facilitating
3. Flywheel- to create a brand which moves the business.
a. generates leads
b. deliver values
c. get customers to experience the value.
d. customers are satisfied.
e. customers get results.
f. brand gets created.
g. cycle continues-customer attraction- customers get interested- customers get the desire to buy- customers buy.
4. Partnership- develop partnerships with successful customers to get leads and share profit.
5. Fractals- treat every part of the process as a fractal of input-process-output and apply the 80:20 principle between the input to output. Lead generation, sales, success rate.
6. Make one Low ticket and also a high-ticket product to maximize profit-
a. High ticket Group coaching
b. mastermind
c. Evaluation and certification
with a caution that it has to come after sufficient experience in learning what the pain points are and what the customers want for the results.
Great points, Janardhan!