Ep #237: My Q1 Debrief and What Is Moving the Needle in 2024 for Coaching Businesses

This week’s episode is a little more tactical than usual, showing you behind the scenes, sharing some of the results I’ve gotten in Q1 in my own business, and giving you some valuable takeaways from my experience in the first quarter of 2024.

Hearing my in-depth thought process around my business and its performance in Q1 of this year will shed some light on your own progress in your coaching business. This is a review that we do every quarter inside my programs, and it will change the way you think about what’s possible for the future of your business as you work towards that seven-figure mark.

Tune in this week for some insights to help you decide what’s working in your business, what’s not working, and what you just need to adjust to create more success. You’ll learn to assess your data so you can see the opportunities that are available for the rest of the year.

 

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 importance of checking in with your business every quarter.
  • How data helps you make educated and informed business decisions.
  • The lessons I’ve learned looking back on Q1 of 2024 in my own business.
  • Why solid momentum early in the year matters, but you can still turn things around.
  • The core business strategy that will allow you to grow and scale your business.
  • How to use your data to set your business up for success over the course of the rest of this year.

 

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 #236: The Importance of Alignment in Your Offer

 

Download a Transcript for The Life Coach Business Podcast

You are listening to The Million Dollar Coach Podcast with Amanda Karlstad episode number 237.

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. I’m so excited to have you here. I have a great episode for you today. This is going to be more of a tactical episode for you. I decided to do something a little different and take you behind the scenes today and to share with you some of my results, my learnings, and my takeaways from this first quarter of this year, from quarter one of 2024. 

I think it’s going to be really useful for you to hear. To hear not only my takeaways, but really to hear more about my thought process around certain things that I know can really serve you. This is a process that we do every quarter inside of my Million Dollar Mastermind, this is my high level mastermind for coaches who we are helping to scale to that multiple six, seven figure mark and beyond. We really go in depth with these debriefs. 

I’ve created a really specific process around this for my clients. It’s a process that I use for myself as well. So it’s extremely valuable and extremely useful to be able to really dive into so many things in the business, to dive into the data, and to be able to look at the business from a very holistic viewpoint. 

So through this process, it has, over the years, given me such a good sense of what is working in my own business. It’s also now helping my clients to see very clearly what also is working well in their businesses and also what isn’t working. With that we can then really assess what opportunities they might have and really let the data tell the story of the business. When you can do that, my friends, when you have data, what happens is you’re able to then make very educated and informed and smart business decisions from that point. 

So I want to share a bit of this with all of you today, a bit of the behind the scenes of that process and share with you some of my big lessons that I’ve learned in looking at this first quarter of the year and taking my own business, taking myself through this process, and give you a deeper sense of how I think about certain things. So I just know you’re going to find a ton of value in this. I can’t wait. 

So before we dive in, one of the things that I want to really invite you to is if you know that you’re ready for your next level, if you know that you are ready to step into your next level of business, I have so many clients coming in who are just ready to build such great momentum in their business. They’re ready for the breakthrough. They are ready to really end this year strong. 

If that’s you, I want to invite you to join us inside of the Mastermind. This is where we will do million dollar work, where we will create the foundation and help you step into your next level self, where we will help you implement real tangible strategies that will take your business. It will power your business to be able to go to the next level. 

So I’m going to talk a bit more about this in today’s episode. But one of the things that I am so proud of when I look at our client results in our containers in both the Mastermind and in my Million Dollar Mastermind that we have tracked over time and that we continue to track, and it’s why I’m so confident in the process that I teach in the work that we do. Because I truly believe that if you’re a coach and you have that desire to grow a highly successful coaching business, then these are the programs that are really going to help you get there. 

So just to give you a sense of some of the results that our clients have reported in, this is just in the last couple of weeks. We have had clients who have generated their highest cash quarters ever in business. So this is for coaches who are at that million dollar level and beyond. It’s also for coaches who are in that multiple six figure range who have been in business for several years. Before coming to work with us, were stuck in an earning plateau.

We have had clients that are launching brand new programs. We recently had a client that launched a brand new program that didn’t exist, again, before coming to work with us. He very successfully launched this new program that is now set a proper foundation for him to scale to that multi-six and seven figure and beyond level solely through this new program. 

We’ve also had a client who, this one will blow you away, who delivered a brand new training that she created, and it generated over $60,000 in new revenue in 60 minutes. I want to say that again. A new training that she created based on the training, based on the templates, based on all of the things that we give our clients access to that generated over $60,000 in new revenue in 60 minutes. I mean, that is crazy, right?

We have had clients celebrating huge strides in overall podcast downloads. In fact, we just had a client celebrate over 1 million in podcast downloads through really, when we take a step back look at the enhanced and deeper thought leadership that he has been delivering in his podcast. We have advised him on this. This was something that we coached on quite a while back that now he is seeing such huge growth in terms of the podcast in so many different ways. 

We have had clients that have held and delivered profitable and transformational client retreats that were extremely life changing not only for their clients but also for them as the facilitators. We have clients who are growing and developing teams of rockstar employees, a team of A-players who are fully aligned in the mission of their business who are really now helping to fuel the growth of the business. So, so much leadership coaching around that. So much coaching around just process and building out those teams.

We’ve had clients that are growing and developing so much just in overall leadership capacity and their identities as they’re stepping into their next level of success. Just really looking at what is best for clients. 

So we’ve had clients redesigning their current programs to better align to their client needs, to really bring in more revenue, more alignment in the business. We recently had a client do this who already, this month in April, has brought in over 30,000 in new revenue just by shifting a few things inside of her existing program. 

We’ve also had clients that have transitioned their coaching business to an entirely new brand, have really up leveled their entire brand, who has now created a center that includes enhanced resources and tools for their clients that’s incorporating things like research and data that has really served as the foundation of their approach in which they’ve created really a new approach in their category and in their area of expertise. 

So I share all of this with you, because this is the level of results just in the last couple of weeks. So I want to invite you, if you are serious about growing and scaling your business this year, then I invite you to apply to join us and to get in the room with a very wonderful supportive community of coaches who are doing this work, who are becoming examples of what is possible in this industry. I want to invite you to join us and become one of our next success stories. 

So you can go to the show notes, you can find the link to the application there. You can also go to my website at amandakarlstadcoaching.com. There will be an application there, and you can fill that out and set up a call. I would love to show you what I see as possible for you. All right. 

So let’s dive in to Q1 debrief. So let’s talk about my Q1 debrief and some of the lessons that I’ve learned and where I am choosing to put my focus as a CEO and what my strategy is in moving forward. So I want to start by saying that quarter one for the business was a phenomenal quarter in the business. We, in fact, had our highest sales quarter to date in the business. It was a very significant quarter and it has really, really poised as well for this year. 

So I think this is really important to understand because how you start the year, so how you start quarter one, is always a great way to set up your year. So I have been very intentional about that throughout the years. It is something that I’m continually refining. I am continually looking at. As a business owner, you definitely always want to try and start out the year as strong as you can. So I’m very, very proud that we were able to do that. 

I’m going to talk a little bit more in detail about this. But one of the lessons that I want you all to take away from this episode is that building momentum, especially early in the year, is very important. I do want to caveat this and say that it’s also not to say that if you haven’t had a good start to the year, if you don’t have a lot of momentum in quarter one. 

Let’s say your quarter one was not where you wanted it to be, does not mean that you can’t still have a very successful year. But I will say that when you can start out the year with some really good momentum, with that solid momentum, it really does help. 

Now, along with that, what I will also say is that when you do have a strong quarter like we did in this first quarter, you also want to be sure that you’re continuing that momentum forward. Depending on your business model and how you deliver your programs or what your marketing and what your sales strategy looks like, you essentially want to be very intentional that you carry this momentum forward. 

The reason I bring this up is because I see a lot of examples in our industry where you might have a launch or you might have, let’s say, a big boost in your sales. What will happen is that you then go into delivery. So you’re coaching your clients one on one, or if you have a group you’re then starting your group, you’re onboarding your group, you’re coaching your clients. It’s very easy for it to happen where, and I’ve experienced this myself, where when you are deep in delivery, when you are serving and coaching your clients, which, by the way, is always going to be the most important. 

But with that, you also have to be able to create consistency and to build on that momentum so that you are also continuing to do the things that are growing the business. So things like marketing and selling, even during seasons of high delivery. So that for me is something that I am very focused on at the moment is continuing to deliver at a high level to our clients and also building on the momentum that we experienced in quarter one and really looking at how are we continuing to build on that momentum. 

So there’s some really specific things that we are doing behind the scenes, and we’ll be rolling out. But it’s important that no matter if you’re in a high delivery season or not that you’re also consistently marketing. Depending on if you’re in a launch model or an evergreen model that you’re also actively selling during that time. 

So one of the core elements of the process that I take my clients through, my seven figure method, which is my proprietary process that I have been able to develop over the years, that I have refined and mastered, and take all of my clients through is that we want to ensure that we have a very consistent and a very predictable marketing system in the business that is always working in the business. 

I will tell you if there’s one thing that I see, that is one of the biggest reasons that coaches are not hitting their revenue or their financial goals, it’s because they’re lacking a solid, consistent, and predictable marketing system in their business. This is why it’s always a focus that we have with every one of our clients, and we help them implement this in their business. 

Because once we have that in place, it then allows us to then focus in on those other areas of the business and to be able to focus on things like the delivery and refining things within your program or within your brand. What it also does is it actually allows you to get so much more creative in your overall approach once you’re consistently bringing people into your ecosystem. So this is a higher level conversation, a higher level strategy that we coach our clients through in our Million Dollar Mastermind. 

So no matter where you are right now in your business, I want you to know how important this is to the overall health of your business. So, as I said, I’m so proud of the work that we did in the months leading into this first quarter. Also just the consistent work that we’ve been doing each and every day in the business. I’m so honestly grateful to my past self for so many of these things. 

So from a revenue standpoint, quarter one was a great quarter, was a great start to the year for the business. I feel like it has really set the stage for the rest of the year for what’s to come. It was overall fantastic. 

So when I look what led to that success, there are a lot of different things. One of the lessons that I want to impart to you here is that serving your clients well and taking care of your clients, I believe, is a core business strategy. The reason that I say that is because we have a track record of so many of our clients who do stay with us for years, who stay in our containers throughout their journey of growing and scaling their businesses. I’m very proud of that. I’m very proud that we get to partner very closely with many of our clients who are on that journey. 

I’m also a firm believer through my experience, and through coaching clients on a long term basis. I am a firm believer in the power of long term and high level support when it comes to growing and scaling a business. Here’s why. 

When you are in this journey, there are so many things that you are implementing. There are so many decisions that you’re making. There are so many patterns that will come up internally. There are so many things that will present in different ways. Having a coach, a trusted advisor that really understands you where you have that trust that really gets your business, that really gets your brand, that can see you in your greatness, that can see the expanded vision for you, for your business, for your overall brand is so incredibly valuable. 

Time and time again, I will tell you the clients who we get to really partner with at that level who are the ones who go all in on our processes, who implement and execute on our strategy pieces that we advise them on, who show up fully in our containers, who stay with us, who stay focused on the plan. These are the clients, I am telling you, they are winning. They are the clients who are generating multiple six, seven figures a year and beyond in their businesses. 

So I just think that’s really important to talk about. It’s not something I think that a lot of people talk about in this industry. But what I will tell you from my own personal experience and also in coaching so many coaches in this way, having that long term high level support, I think, is vital to your growth. 

So one of the lessons as I was reflecting on this for my own debrief and that I want to share with all of you is just how powerful that really is and how powerful transformational coaching really can be. It’s why I believe that focusing on your clients transformation, on their results, is not only going to help them to achieve their goals, but a really powerful byproduct of that focus, of that intention will also be that it will help you grow your business. 

So that is another lesson that I really want to impart on all of you is that one of the most powerful things you can do is to create a program, a container that focuses, that is really centered around your client results. This can be in any niche, by the way. 

This does not have to be a business niche. This can be if you’re helping clients in the relationship niche. This can be if you’re helping clients in the health niche. This can be if you’re helping your clients in any type of niche. When you are able to focus on client results, when you focus on helping them to truly achieve their transformation, the byproduct of that is that your business will grow as a result. 

So I’m just so, so proud that we have demonstrated this time and time again, and we have clients that have been with us and stay with us and choose to be with us, that continue to show up and engage in the process. So this is really, really important. It’s so much more powerful in comparison to jumping from container to container or from strategy to strategy or jumping from one coach to another. 

I have found that it is so much more powerful and effective to grow your business to be in a longer term, in a transformational container that is structured so that it can really support you in all the ways that you need to be supported as you are in this journey. All right. So one of the best strategies that you can implement right now in your business is to take great care of your clients, to coach them powerfully, and to help them get results. All right. 

The next lesson I want to impart on you that came through as I was doing my own debrief is how important offer alignment is. I talked about this in last week’s episode. So I would encourage you to go back and to listen to that episode if you haven’t. That was episode number 236. But one of the things that came up for me as I was diving into the data was to really get clear on the breakdown of the revenue that has been generated between my programs. 

I took a couple of days to really dig into this where I gave myself a little bit of extra time and space. It’s been some work that I’ve been doing behind the scenes to really get clear for each of my programs what that really looked like. It’s something that I will say I feel like I always really have a good pulse on. It’s something that I have always done throughout my career. I am always tracking very closely on a monthly basis. So, because of that, I always have a really good sense of where things are at. 

But as part of this quarter one deep dive, I decided that I wanted to dig into this a little bit further. What really surprised me as I looked back at the data was how powerful it has been for my business to have a two program model like I have. Where we support our clients in our two containers at different stages of their business journey and how powerful this model has been in my business. 

So as I started to reflect on this and how powerful this has been in our clients, businesses as well where we’ve been able to implement this, at that more established and advanced level, I will tell you, there is a lot of really, really powerful things about this. So, again, looking at this data really solidified how powerful this model really is. 

When I started to look at all of our clients who are really making massive strides in their businesses, who have reached really extraordinary levels of growth in their business, one of the elements that is consistent across the board is that there are elements of this two model at play in their businesses as well.

I will tell you, it does look different for each and every business. But essentially across the board. Again, this is more for my established clients. So what happens is they typically have their core program that they are offering, right? Whether that is a group program, it could look like a membership. There’s several different ways, business models that this could look. 

But then they also have at least one additional offer, whether that be another level of a program. It could even be an upgrade to their core program. It could be offering a one on one component. It might be a retreat. It also might be a higher level group program that they offer to a smaller percentage of their clients who have graduated from that core offer. It could also be a lower ticket offer where they’re offering things, they’re bringing people in through things like paid workshops, etc. 

But the point is that when you get to a certain level, and this really comes into play when you’re at that six or definitely multiple six figure level. So I want to be clear that up until that point, it is important to focus on your one main core offer and to really get that dialed in and to really get that converting consistently in the business. I do believe that should be your main focus if you’re working to build your first 100k. 

But once you have that solid proof of that offer, once you’ve delivered that offer consistently over time, and you have clients who then graduate through that process, what will naturally happen is that you’ll have a certain percentage of clients who then become ready for the next thing. 

So being able to really tune into that, knowing what would best serve your clients can be a really, really powerful thing in your business. So this next piece that is so important to evaluate as a business owner that I have all of our Higher Level Mastermind clients look at is where clients are actually coming from. 

So in my programs, one of the things that we are very, very good at is helping our clients establish a paid marketing funnel in their business. So most of our clients come to us because they have reached a certain plateau in their business. They essentially are at a point, whether they’re already at that six figure mark and beyond or they might even be below that, but they know that they’ve reached a ceiling. They know that they’ve hit a roadblock, and they’re just not able to grow doing what they’ve done. 

So with that, a lot of our clients choose to run paid marketing as part of their overall marketing strategy. Again, I want to be clear that this is not the only thing. This is just one part of the overall strategy that we teach. This is actually, paid marketing is way more powerful when it’s combined with other marketing strategies. This is something that we are very good at and helping our clients establish in their business. 

In every case where we have done this over time, where we have really dug in and implemented this with clients. In every single case, even if a client has run ads in the past or worked with an ad agency or even an ad expert, in every case, we’ve been able to literally outperform and essentially build a much more predictable and profitable funnel. It’s because of our holistic approach and the support that we have built into our programs. So I want to give you this context because it’s important to understand this. 

So knowing where your clients are coming from is very important. Knowing your data is vital. So as part of any debrief, you want to be able to really dig in and see over the past quarter, for example, or over the past six to 12 months where your clients have been coming from.

So as I did this, this was just such a good exercise. Because what I found is that we do have a good portion of clients who come in through the podcast, and this is wonderful, and it’s great. I love when we have clients come through the podcast. We also have a good portion of clients coming in that have gone through a funnel that I had created a couple of years ago, actually. 

Some of you listening might have even gone through that funnel. It’s a private podcast funnel. I’m super proud of that series. I think it’s a wonderful training. I would highly recommend you go to my website. You can download it. You can get on the list there and download that private podcast series. We also have clients that are coming in through other channels as well. 

So as far as paid ads, one of the things that I have been testing throughout quarter four of last year and really into the first quarter of this year is a new approach. It’s a new funnel that I had built towards the end of last year. So this was a brand new funnel that was a really different approach than anything I’d ever done in the past. So we’ve been doing some testing around that and really working through some of the data. 

What came to me as I was doing this debrief and what was so interesting is looking at the conversions and the breakdowns that we had, what was also revealed to me is that I actually may want to consider a completely different strategy than the one I had been originally testing. So I am in that process right now of really looking at the different pieces and just need to decide what direction I want to take on that. 

So the lesson here is had I not actually sat down and looked at the data and really gone through the numbers, I might have missed some really key conversion, some really key numbers. Conversions that were really important for me to see. So now that I can see that, now that I have that data, I’m now able to do the work that’s really going to move the needle forward. 

So as a CEO, when you know your data, you can then use that to inform your strategy and to double down on what’s working and to show you where you have opportunities to double down in other areas that you might not be seen as clearly. So knowing your numbers, and I know I talk about this all the time, but it is so, so important for you as the business owner no matter what level you’re at so that you can actually grow by focusing on the things that are actually moving the needle for you. 

So right now, if you’re not sure where your clients are coming from, that is the first step. I would highly encourage you to do this work, to look at where your clients are coming from, and to get clear on where you should double down or where you should perhaps apply more focus or where you might be missing some bigger opportunities. All right. 

One of the last lessons that I learned in looking at this past quarter that will apply to all of you is the importance of who you are being and how you are showing up in your business. One of the questions that I ask my clients through this process is how did you show up in this timeframe? Meaning how did you show up in this first quarter. 

For me, I will tell you that there were definitely some challenges that I experienced in this first quarter. Challenges that as I look back, I’m so grateful that I got to experience because it really gave me the opportunity to grow new and different muscles and to see myself in a whole new way. It invited me into a deeper version of myself. It invited me to step out and be bold in different ways and to get uncomfortable in different ways. 

So one of the questions that I would encourage you to ask yourself is as you’re doing your own debrief is how well did I manage myself this quarter? How strong was I within my own self leadership this quarter? How did I actually choose to show up? 

These are some really important questions to consider because here’s what I want you to know. Every day you have a choice. You have a choice to be a mature CEO in your business. You have a choice to be in a place where even though externally things may not be going according to plan, you still have a choice to be in your power. You still have a choice to be in self-leadership each and every day and to come from a place of emotional resilience. 

That might mean that you take on extra support during this time. It might mean that you actually sit with and be with what it is that is uncomfortable. It also might mean that you just need to get over it and get to work. So whatever that is for you, I want you all to know that your greatest power is that of choice and to be in a place where you are intentionally choosing who you’re being on a daily basis and how you’re choosing to show up. That is real, real freedom, my friends. All right. Have an amazing week everyone. I’ll talk to you all again next week. 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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