Ep #245: 3 Million-Dollar Assets to Become a Million-Dollar Coach (Part 2)

Last week in part one of my series on asset-based thinking, I talked in depth about three main assets that are essential if you want to expand your business toward the seven-figure mark and beyond. Today, we’re taking things deeper and you’ll learn about the inner game that is required to grow these assets into million-dollar tools.

If you want to really master asset-based thinking, you need to develop a belief system that supports these assets in growing. Wherever you are in your coaching journey, this mindset work is the key to unlocking the next level of your coaching business, and it’s truly required for exponential business success.

Tune in this week to discover the mindset and belief systems you need to cultivate to create million-dollar assets in your coaching business. I discuss the transitions you’ll need to go through, challenge your thinking around your business assets at the deepest level, and you’ll learn how to develop the belief systems the most successful coaches leverage in their businesses to grow their million-dollar assets.

 

If you’re ready to create the next-level million-dollar version of yourself and become an example of what is possible, I invite you to join my High-Level Mastermind where we will scale your business to multi six and seven figures and beyond. And if you’re working to grow your business to your first $100K and beyond, I encourage you to join my business accelerator, The Mastermind. So click here to fill out your application and schedule a call!

What You’ll Learn:

  • The assets that have had a direct return on investment in my business.
  • Why shifting your thoughts around asset-based thinking is required for growing and scaling as a coach.
  • How your sales and marketing in your business serve as a vital asset.
  • Where I see coaches going wrong with unconscious ways of thinking about their assets.
  • The work I do with clients in switching over to asset-based thinking.
  • How to practice a long-term line of thinking when developing assets in your business.

 

Listen to the Full Episode:

 

Featured on the Show:

  • If you’re an established coach and are ready to scale your business, achieve your long-term goals and build a practice that will stand the test of time, my High Level Mastermind could help you take your business to the next level.  Find out more about it by scheduling a call with me here. I look forward to working with you!
  • Get my exclusive three-part private podcast series called 3 Vital Shifts Every Life Coach Needs to Rapidly Scale Their Business here!
  • Ep #244: 3 Million-Dollar Assets to Become a Million-Dollar Coach (Part 1)

 

Download a Transcript for The Life Coach Business Podcast

You are listening to the Million Dollar Coach Business Podcast with Amanda Karlstad, episode number 245.

Welcome to The Million Dollar Coach Business Podcast, a show for coaches who are ready to up-level their business and take their impact, leadership, and results to a million dollar level and beyond. If you’re ready to break through your limitations and start taking powerful action and become the seven figure version of you that your business needs in order to grow, scale, and thrive, this show is for you.

I’m your host, Amanda Karlstad, Master Coach, high level business mentor and advisor, master intuitive and business growth and scaling expert. Let’s get down to business.

Hello and welcome everyone. Welcome to part two of the series that I’m doing this week all around asset-based thinking in your business and why it’s critical if you want to go to and expand to that seven figure and beyond mark in your business. I’m really excited for our conversation today.

I would highly encourage you that if you haven’t listened to part one, episode number 244, to go back and listen to that or even re-listen if you feel inclined. My intention with that episode was to teach you the importance of the three main assets that you need in your business if you want to scale to a million and beyond. It’s a really important aspect of this conversation.

Today we’re going to dive into the inner game and specifically what I have found to be required from a belief system, from that internal level specifically around asset-based thinking. I do believe that this is going to be a very useful tool for you no matter where you’re at in your journey.

The reason that this topic is so important and the reason that I decided to bring this series to you is because it really is the key in unlocking your next level. It’s also a requirement if you have a desire to grow to that seven-figure level and beyond.

When I consider what it really takes, being that this is my mission and zone of genius to help coaches grow and scale million-dollar businesses and brands and become industry thought leaders through my methods, frameworks, and seven-figure coach method, what I’m about to share with you here today is very, very important.

One of the transitions that you must go through if you want to become a million-dollar coach and grow to that seven-figure level and beyond is that you must start thinking from an asset-based perspective. I talked in last week’s episode about the three required assets that you have to create if you want to build a million-dollar business.

Today I want to challenge you all with your thinking around assets and specifically the assets in your business. This is a very important conversation and it’s one of the transitions that I see happen very often with my clients.

Typically when they come into one of my programs, whether they are coming into my mastermind program where they’re working to build to that six figure and beyond revenue level, or if they’ve already hit that level and are at that six or multiple six figure level looking to go beyond that and scale to seven figures, this is the work that we do inside of my million-dollar mastermind.

Regardless of where each client is coming in, regardless of the revenue that they’re generating in their business, one of the things that we teach them is the importance of building assets in your business. I gave you three of those assets in last week’s episode.

In addition to that, so much of the work that we do is around shifting the thinking, helping our clients to really start thinking in terms of asset-based thinking. What this means is that we’re typically moving from looking at projects or strategies in the business from that short-term perspective, and we start to help our clients to consider all of these things. We teach our clients to start to think about their business and the components of their businesses as an asset.

This is a very important mental shift for you if you want to scale. To give you an example of this, one of the things that a lot of coaches struggle with that quite frankly, most coaches are in need of a lot of help and support with is in terms of their marketing and sales system.

There are a lot of approaches that you can take when you look at the different ways that you can market and sell your services and programs as a coach. More often than not, what tends to happen in most cases, I see this to be a very unconscious way of thinking, but more often than not, what happens is that most coaches are actually approaching their marketing and sales process in their businesses from a very short-term based line of thinking.

What this means is that they might go out, they might try to implement a certain strategy or a certain tactic in the business. A lot of times they’re jumping from strategy to strategy or tactic to tactic, and they’re likely not getting a lot of traction from it. They’re not building a lot of momentum around this. Because of that, they’re moving on to the next thing and the next thing and the cycle continues.

One of the things that’s really important that we teach our clients in how we help them really shift into this asset based thinking is that it requires us to take a longer term perspective when looking at the business assets and how we’re approaching the business strategy and how we are approaching the business overall.

There’s a huge difference between short-term thinking and long-term thinking and asset-based thinking in the business and the results that this then creates in the business. One of the main components of asset-based thinking is you have to start thinking in terms of a longer time horizon.

If you’re thinking in the short term or only in the very near future, one of the things that is important to recognize that I want to highlight here is that in every successful coaching business that I have coached or mentored and advised, one of the most important elements is your ability to approach your business and to build the required assets in the business in a way that can withstand time, that can serve as the foundation for growth in the business. That isn’t just some latest tactic or fad in the industry.

As the CEO, as the coach of your business, as the main marketer of your business, as the operator of your business, when you think about all of the roles that you have to play in your business, your time, your energy is extremely valuable. Applying that energy and that time, your resources towards things that are true assets in your business is foundational work. It is the foundation to a million dollar coaching business. It’s really the key to building to a million dollars and beyond.

The next way of thinking that is so important in terms of asset-based thinking is to alongside thinking more in terms of the longer term and getting away from that shorter term thinking is to also be thinking in terms of your ROI. This really coincides with thinking more long-term.

One of the big shifts for coaches who want to scale to that million dollar mark and beyond, is that you also must start shifting into looking at the ROI of things like your strategy, around the assets that we talked about in last week’s episode, around things like your time, your energy, the investments that you’re making.

What has the potential to drive the most ROI when you’re making decisions in your business? One of the frames that has served me very well in my own journey is to continually be thinking in terms of the ROI or the potential ROI, for example, of building out certain assets in my business.

To give you an example of this, one of the assets that has had a direct ROI in my business and a significant ROI is this podcast. I see this podcast as not only a way for me to deliver a high level of content to you each and every week, but it’s also a real asset that I have built in my business. It’s one that has a very clear, direct ROI in my business.

I know that on any given week, one of my priorities is this podcast. I know that my time and my energy, the financial investment that I’ve put into this podcast, that I continue to put into this podcast has real ROI, significant ROI.

For me as the CEO, I’m very clear that one of my weekly priorities, a core part of my strategy is to deliver this podcast each and every week. I’ve been consistent with that for almost five years. I see that not only as a huge asset in my business, but also a huge accomplishment to have created this body of work, to be able to communicate with you and teach you these concepts and these lessons each and every week to bring a level of value to you that I believe is very valuable.

I know without a shadow of doubt this is real business advice that will undoubtedly help you in your business growth journey if you put into practice the things that I’m talking about in this podcast. These ways of being, these new ways of thinking that I’m offering to you each and every week is significant and it’s also a very valuable asset that I’ve created in my business.

I would offer to you that when you’re looking to implement or create assets in your business, it’s also very valuable for you to think about the ROI of these assets. Many times you have to understand that the ROI will come over time.

Another example of this that I think really speaks to this is the ROI of, for example, a sales funnel or even a book. Both are very powerful assets that any coach has the ability to create that can generate ROI over the course of their journey. It will continue to drive real ROI into the business. Thinking in terms of ROI is huge.

The final way of thinking that I would encourage you to adopt when it comes to asset-based thinking is that when it comes to business, there is a plethora of things that will be required for you to learn. There’s a huge learning curve that no matter what step of the journey that you’re on, that you will be required to learn, that you will be required to develop skill in, that you will need to grow your muscles with.

The normal reaction to these things is to resist them, is to, for example, having a want to hire these things out as soon as possible, to resist having to learn and grow your skills in certain ways. What I would offer here is that there is real value in learning what is needed, in developing your skills in certain areas.

I’m not saying that you don’t delegate things, but before you delegate things, that you also understand certain things, that you understand, for example, how certain things work in your business, that you having a knowledge of, for example, how to connect certain things or how to write copy, how to create high-performing sales pages, that these are pieces of knowledge that are assets for you, that you will be able to continue to draw on time after time, as you create new programs, as you update your pages to better align with your mission, as you evolve as a coach.

The knowledge that you gain by going through the process of doing these things, of growing and scaling your business is also a real asset. Assets can take the form of many different things inside of your business. Not only is it the tangible assets that are required, that are needed, but it also comes in the form of knowledge in the way that you approach your business, in the experience that you gain of growing and scaling your business.

I invite you to lean into this, to adopt a more asset-based thinking approach in your business, where you are thinking from a longer time horizon, where you are considering the ROI of something rather than what is this perhaps costing me, where you’re considering the knowledge and the experience that you’re building, that you’re gaining as a real asset that you can then draw upon when you need to.

These are all ways of being and thinking that we work on inside of my programs, inside of the mastermind and my Million Dollar Mastermind. I would invite you that if you know that you’re needing to better adopt this way of thinking, if you know that you need to create real assets in your business, then I would invite you to apply to join us if you want real expert support in doing that.

We are building Million Dollar businesses and brands each and every day, and I’d love to have you on board. All right my friends, I want to invite you to get to it. Have a great week. I’ll talk to you all again very soon. Take care, bye-bye.

Thank you for listening to this episode of The Million Dollar Coach Business Podcast. If you’re ready to step into the million dollar version of yourself and scale your business to six, multi-six, or seven figures and beyond, go to amandakarlstadtcoaching.com.

 

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