Wendy (00:00.806)
there, welcome back to The Coaching Edge. I am your host Wendy McCallum and I'm so happy to be back in the recording studio today. I took a little break from recording sessions because we take the summer off of actually posting new episodes of The Coaching Edge. And so I am back now recording a few episodes back to back today and it feels great. By the time this episode airs, it'll be the fall. Right now it is hot, hot, hot outside. It's the middle of July here.
I'm sitting here in my t -shirt recording this episode and thinking about the fall and getting excited about what's to come. What I want to talk about today is how to generate more revenue right now and how to do that in a way that doesn't feel completely overwhelming and like there's so much work involved in that. mean, obviously there are lots of different ways to generate revenue as a coach and you know I'm a big fan of creating like online content courses and that type of thing and that's not what I'm going to talk about today. That's sort of separate, that's a separate.
thing in that there's so much more involved in that. I'm talking about like kind of quick ways to increase your bottom line for this month or the next month. So this has been coming up over and over again in my business building program for coaches, which is a combination of an online content library and live coaching sessions every week and then some master classes. And what I hear coming up in the office hours when we get together
and we share our successes, but also the areas where we're feeling challenged or we're struggling, that this is a regular stressor for coaches. They'll look ahead at their revenue stream and they'll say, look, I don't know where the money's gonna come from next one. I'm feeling really stressed. I don't think I'm gonna have enough private clients, for example, to meet my gross revenue targets or goals for next month. I need to make some more money, but I don't have a lot of time.
to invest in creating something really complicated to sell, like a new product to sell. So I'm talking today about things that don't involve a ton of work, but that are just kind of unique, creative ways to actually come up with more things that you can offer so that you can actually make more money right away. So we're not talking about complicated launches. We're not talking about big, intricate online programs. We're talking about smaller offers, smaller ideas that can actually generate big revenue for you. So let's get started.
Wendy (02:22.268)
The first way to generate more revenue this month or next month is to look to your existing base of clients or customers. So look to those people that you have already supported and ask yourself, what is it that they are asking for? What is it that they need that I don't have yet? I am not offering them. And if you don't know, please, for the love of God, pull them, ask them. Put it in your newsletter this week. Hey.
I am looking to create something really, really great, but sometime I wanna put together an offer that gives you everything that you need. in order to create the perfect thing for you, I wanna know what it is you're looking for, what it is that I don't offer that you wish that I did offer. And if I could wave a wand and create a magic sort of program for you, what would that look like? Ask your people. You can ask on Instagram and social media. You can ask in your newsletter.
You can ask anywhere that you're actually connecting and communicating with your audience. Maybe that's even in person. And then what you do is you create what they want. And for a lot of us, we already know what they want because they ask us for it. We hear it, but we don't create that next level for them because we don't have time or because it feels like somehow that's an admission that the last thing that we sold them wasn't enough or didn't, you know.
didn't do all the things, but that's not the case. People evolve, people grow, people need new things. And for most of us, when we start working with clients, we're just dealing with the, you know, helping them get clear and get unstuck from whatever that first big problem is that they've got in their lives that feels like it's holding them back. And once you knock that one down, there's always another one, something else pops up.
What can you offer your existing base? And then you sell directly to them. I the beauty of this is that they're already warmed up, they love you. And so this is an easy sell. Go out and say, look, what is it you need? And then create that and offer it to them directly. You can reach out through direct emails, private emails to past clients. You can do this through newsletter, a combination of those things, and also on social media. But this is an offer that is for people who have already worked with you.
Wendy (04:39.676)
So if you haven't done this yet, if you haven't contemplated this, this is a great place to start. Okay, the next thing that you can do to generate more revenue this month is you can look at creating a mini offer of some sort, something smaller. It's a one -time thing that you're gonna sell. And it could be, there are so many different ideas for this, but I'm just gonna go through a few of them. So it could
a workshop for example. So maybe it's just a 90 minute workshop that you're going to put on on a really specific topic that you know is going to be generally of interest to your audience. And that is just a really great sort of entry level maybe topic that people are going to be really interested in learning about and that you could sell at, you know, maybe a lower ticket price. So this is going to
it's gonna work in a couple of different ways to generate revenue. First of all, obviously the price of the ticket, even if it's low, is gonna be some revenue for your business. But the second part of this is that this is gonna help you build that like no trust and you can sell on the back end of the workshop. So you can make an offer on the back end of the workshop if you want to, either in a follow -up email or at the end of the workshop. Or you can do my favorite thing when it comes to marketing, which is be dropping sort of some organic hooks throughout the course of your workshop or presentation about
the other thing that you have that might be a really great fit for them. And the way that you do that is you talk about client stories and experiences and you tie it into whatever it is that you're already talking about just to remind them of the fact that you actually have other coaching services or other offers outside of this workshop that they can access. So workshop or presentation is a great one. You could also do a day retreat or a half day retreat. These are great because you can price them at a higher ticket.
And it might be that you, depending on what area you coach around, you just come up with a little bit of an agenda for some presentation topics. Maybe you're gonna do some hot seat coaching where people who attend in the morning session get to put their names on the hat for a hot seat in the afternoon and you do a 15 minute laser coaching session with them on the topic. Maybe you have a Q &A section. Maybe you're actually working through a particular mindset.
Wendy (06:52.37)
block or obstacle that your clients regularly come up against that you help people work through in your one -on -one coaching and you're gonna take people through that step -by -step over the course of the day. I mean, really, the world's your oyster in terms of what the content of this half -day retreat or full -day retreat is, but retreats are really great. You can sell them for a little more, obviously, than a one -hour presentation and make a little bit of extra cash in the process.
Mini offers might also be just like a very, very small course. So it might be like, I'm gonna do a four lesson course on this particular problem, help you solve this problem. And you can record four short videos on it, package it all together and send it out to your clients in a really simple way that doesn't involve a lot of tech.
Or it might be that you're gonna offer like a three session one -on -one coaching package. Maybe you always offer 12 session coaching packages and That's at a higher ticket price and you decide well, you know what just for the summer I'm gonna offer summer coaching packages that are you know kind of reset reboot packages for my clients and it's it's three sessions and I'm gonna price that at you know $4 .99 or something. So any kind of mini offer something smaller than what you usually
is a really great way to generate more revenue and you don't have to put a ton of time into content creation or marketing or fancy graphics and that kind of thing. You can just sell that direct to your list, sell that direct to your social media audience. Here's one that I have been doing for the last six months that I honestly never really done before but that I am now such a huge fan of and so I wanted to share this with you and that is pre -selling spots to programs that have not started
I've done this in two different instances in the last few months. One for a program that was completed and I'd run a beta on it, but it actually didn't launch until four or five months later. I decided I needed a little extra revenue in the summer. I wanted a little extra revenue cushion. I had some expenses coming up that I wanted to be able to pay in cash. And so I wanted to bring in a little extra revenue in the month of June. And so I offered a pre -sale price on
Wendy (09:12.264)
the coaching course creator program, is running in October of 2024 and open for general registration. in June, what I did was I offered it at a significantly discounted price. So there was a big saving on it. If you pre -registered and I gave people access to the online course over the summer, but made it really clear to them that the actual live support in terms of the group coaching calls wasn't gonna start till the beginning of October.
And I pre -sold many spots in that program in June and that did exactly what I wanted it to do, which was give me a little bit of a cash infusion that allowed me to cover some of the expenses that I knew I was gonna be incurring in the creation of some other content that I was working on in the summertime. So pre -selling an upcoming program is a great way to make some revenue. I have also pre -sold programs that aren't completed yet and I'm a big fan of this as well. Now.
I wanna be clear, you need to be very confident that you're have a program to sell before you start pre -selling something that's not complete. So you wanna have gone through the process of getting super clear on your niche and your idea and the layout of the program and have it all mapped out and even have your branding done and the course set up somewhere so that you're actually, you know that you're in the process of building it and that you will complete this thing. By the way, there's nothing that lights a fire under your ass to complete a program more than a sale.
So this will also ensure that you complete the program frankly, if you sell spots to it in advance. But I have done that with programs that are not complete yet, but that I am excited about and I'm in the process of creating them. I will offer a pre -sale price on those programs, an early bird pre -sale price to get people into the program now and to make some money now. So is there something that you know you're going to be doing?
but that is not quite completed yet, can you pre -sell that now? If so, that's a great way to get, to generate a little more revenue this month. Okay, next, offer a VIP upsell to existing clients or group members. So do you run a group? Do you have a private practice? If so, what are those people currently getting in that group or in that private practice? And is there something that you can offer to those people?
Wendy (11:33.98)
that is like a VIP special add -on to the existing coaching and support that they're already getting. So for example, I have a couple of different group programs that I run. One is a group program for women who are trying to break free from alcohol. They get group coaching session every week and access to a community in between calls where they can ask questions and get support. But what they don't get is any one -on -one with me.
So what I could do if I wanted to generate some more revenue is I could offer to that group as kind of a special this month only thing, the opportunity to add on two private sessions with me this month to really drill deep into some of the pain points or the challenges that are keeping them stuck at this price and just sell that sort of additional higher level, higher tier of support and service to them.
on a short -term basis. VIP days are also great depending on the type of coaching you do and that's where somebody gets access to you all day and that is a high ticket offer. And so even selling one VIP day, offering that to your existing client base, like how much would you get done if we sat down together, we started at nine o 'clock in the morning, we worked straight for three hours, we took a break for lunch, we came back, regrouped for a couple of hours in the afternoon and you had access to me all day with your questions while you were working independently in between sessions.
how much could you accomplish in that day? How much change could you make? How much could you get done? Again, depends on the type of coaching that you do, what this might look like. This works really well in the business coaching model. And so that VIP day, a full day or a half day is something that you could also offer as a way to boost your revenue. And again, this is selling to existing clients. This is you going back and doing like an upsell after the initial sell, where you add on something that's just really
Juicy and really interesting and really feels like it could be incredibly impactful and valuable for your clients and you sell that No real marketing involved in that they already know you right you just have to make the offer to them and You don't have to create any like special fancy graphics or branding or programming or anything to go along with that So I love that idea of a VIP
Wendy (13:53.07)
upsell to existing clients. And it could be program clients, people in a group program, it could be clients you're working with one -on -one. And then the last thing that I wanted to just throw out there as an idea, as a way to generate more revenue quickly, is to look at what programs you already have in place and then have a brainstorming session around whether you can create something that is a follow -on
program to the initial programming. So kind of like the next step. look for a way to do that in a pretty simple format. So for example, let's go back to the alcohol coaching group. Maybe I have a group that helps women get free from alcohol and it's a six month program. After that program is done, if those women are really feeling free from alcohol, they're not gonna wanna stay in the group probably, although they do have the option to stay on a continuing membership and many of them do if they're not feeling free yet. But if they are feeling free, they often leave.
I don't sell them anything after that. They go on their merry way. However, if you think about what I was talking about earlier, which is that we very often start coaching people with, you know, around whatever the biggest, most obvious domino is for them, that really big problem they have that is impacting them not only in that particular area in their life, but is spilling over into other areas of their life. Once they deal with that problem, they make the change that needs to happen. They have the transformation. They remove the roadblocks or obstacles to change.
It is always the case that something else pops up for them and they need support in the next thing. So for example, if we're talking about women who have gotten free from alcohol, the next thing that very often happens is that women find themselves with a lot of time to contemplate and reflect on their life. And very, very often those women will say to me, something's missing and I don't know what it is. I don't know how to fill it. This.
didn't solve all my problems, I still don't feel really happy and joyful. And I don't know where to start to try to figure out what's missing in my life or what needs to go in my life. So I could create a four module group program that follows on after that, that is designed to help those women figure out what the next thing is for them. And I could sell that to all of the clients who have graduated from that first level of program.
Wendy (16:13.874)
I don't need to create an online course to go with that. I could, guess, but I'm looking for things that are quick. I don't need to create any fancy landing page or materials to go with that. can just send an email out to them and say, here's what I'm thinking of doing. I'm gauging interest right now. Would you be interested in getting back together for more coaching sessions with me where we focus on up -leveling your life post -alcohol, for example? And then I would gauge interest. And as soon as I knew that I had several people who were interested in that,
I would create a link for payment and I would set it up and get going with that. So that's just, it's another sort of iteration of the idea of selling to your existing client base. But this one's more about looking at whatever programming you have, you have already created and where people graduate from it or finish it and leave. And they've solved that problem or had the transformation that you promised to help them make. But then they're kind of off on their own right now. You take
you take a look at or ask them, again, this is a great place to pull people, pull your past clients in groups. What is it that you're looking for now? What's the next thing that's come up for you that you're looking to try to work on, improve, change? And then you create the solution to that. And again, doesn't need to be a fancy online program. You can do this through live group coaching sessions. And you can create from that if you want an online program by recording those sessions, recording your coaching and...
whatever it is that you offer in those sessions and then turning that into an online program that you sell down the line, but you don't have to. It can just be live group coaching sessions. So those are five different ways that you can generate more revenue this month and there are a million other ones, but those are the ones that I thought of, but I thought might be a good place for you to start if you're feeling like you need to make some more money and you haven't got a lot of creative ideas around how to do that other than to get out there and hustle harder.
for more one -on -one clients. So I hope you found that helpful. I will be back with another episode of The Coaching Edge in a couple of weeks. Thanks for listening.
