Ep #222: The Roadmap to $1M+ as a Coach

What does it take to grow a million-dollar coaching business in today’s coaching industry? Over the past few years, things have changed in the coaching industry, so you need a roadmap to help you reach the million-dollar mark and beyond as a coach in 2024.

I see coaches getting distracted and getting stuck in some of the messaging around our industry at the moment. However, success is still possible. There are steps you need to take in your business and elements you need to embody if your goal is to grow your business to the seven-figure level, and I’m sharing them with you on today’s show.

Tune in this week to discover the roadmap to reaching seven figures in annual revenue as a coach. I’m discussing my own trajectory as a coach, giving you the secrets to accelerating your growth as an entrepreneur, and you’ll learn the tangible strategic steps you need to take to make your seven-figure goal a reality.

 

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:

  • How the messaging around the coaching industry has changed over the years.
  • Where I see coaches getting stuck in growing their businesses.
  • My own trajectory as a coach growing and scaling a business.
  • The most intelligent investment you can make in your business.
  • Your roadmap to $1M+ as a coach full of tips you can implement today.

 

Listen to the Full Episode:

 

 

Featured on the Show:

 

Download a Transcript for The Life Coach Business Podcast

You are listening to The Million Dollar Coach Podcast with Amanda Karlstad episode number 222.

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.

Welcome to Episode 222 my friends. I hope your new year is off to a fantastic start. I am so excited for this year and for all of the things that I have been working on over the past couple of months, things that I have been developing behind the scenes, things that are helping my clients to grow and scale to the seven-figure mark in the most accelerated way. 

I have to say, if your goal is to ultimately take your business to seven-figures and beyond, then I want to invite you to apply to work with myself and my team inside of my mastermind programs. We have two mastermind programs that are designed to take you from where you are to your next level and are very powerful, that are truly helping our clients become examples of what is possible in this industry, that are truly changing the game.

I would highly encourage you to apply if you know that right now you are ready for a higher level of mentoring. If you are ready for a higher level of strategy, if you are ready for a higher level of coaching and personal growth. I want to invite you to apply to work with us. I know that this work can change everything for you for your business this year. I would love to have you be one of our next success stories. 

All right, I am really excited about today’s episode. I have a really valuable episode for all of you today. I want to talk to you all about what it takes to grow a million dollar coaching business in today’s industry. I’m going to lay out the exact roadmap, the exact steps, the exact elements that you will want to take if your goal is to grow your business to that seven-figure level and beyond. 

So I wanted to bring this episode to you because, quite frankly, when I think about the industry, when I think about all of the messaging that is out there, I see so much noise right now. There has been a lot of noise over the past couple of years on so many different things. What happens is I see a lot of coaches that are getting distracted with certain things, that are even investing in certain things, that are investing their time, that are investing their energy that at the end of the day isn’t really moving the needle in the business. 

So one of the things that has been a strength of mine, which, when I look back on my own trajectory of growth is, I believe, one of the reasons why my business has grown so quickly and to the level that it has grown. Is because I’ve always been very clear on what actually matters and what doesn’t when it comes to growing and scaling the business. 

So because of that, not only have I been able to move much more quickly and grow my business in an accelerated way, but I’m also now able to transfer that to my clients and do on a daily basis. This happens in a lot of different forms, which is why I believe that being in a mentorship container, which is why I believe there is such a huge importance of investing in high level coaching. It’s one of the smartest and most intelligent investments I believe that you can make in your business because it’s such a shortcut. 

When I look at my clients and the work that we do, and it’s something that I think about often, and I observe this happening in real time, is that the work that we’re doing on a daily basis is literally million dollar work. It’s work right now that in my clients businesses it’s creating thousands, tens of thousands, hundreds of thousands, millions of dollars literally of revenue in their businesses. 

So when you think about this over the course of the lifetime of a business, the result of that is huge, and it’s also very profound on a personal level. So I want to encourage all of you to lean into today’s conversation, into what I’m bringing you today because it’s really, really valuable. Okay.

So last week, I talked to you all about why I believe that growing your business to a seven-figure level and beyond is so important. I’d encourage you to go back and listen to that episode. That was episode number 221. That was also a really important episode. In that show, you’ll hear me talk about my philosophy and why I do believe that it’s not just about the money. 

While, yes, the money is great, and it’s an amazing byproduct of going out and taking on the challenge, taking on the call of growing a million dollar and beyond business. But it’s also about revealing yourself. It’s about you becoming the highest version of you in the world. It’s about the becoming, and in many cases, the remembering of who you are and what it is that you’re being called to do. 

So the reason that I speak to a million dollar business is yes, not only for the money and not only for success, but it’s really about a process of becoming and operating from the highest version of you. Which, in turn, does make a bigger impact, which does have a huge ripple effect for your clients as well. 

So, in order to do that, there are very specific things that must be in place in your business, that must be working in the business in order for you to grow and scale it to a very high level and to be able to operate from that highest version of you.

So this is a journey. It’s a journey like no other. Today, I wanted to really talk to you about what tangibly that journey looks like. For this to be an episode that you can come back to and that can serve as a roadmap, that can give you a higher level of awareness around your business and maybe the current circumstances that you have in your business and your current experience of your business that helps to provide a breakthrough for you that you are needing right now in this moment. 

So in this journey of going out and building your business, there are different stages that you will go through as a business owner. There are different stages that your business will go through as it grows, that will require different things from you as the CEO, and there’s different things as well from a strategy level. It’s very much both an inner and an outer game. 

So what I mean by this is it does require that you go through a continued process of evolution, a continued process of growth. That you continue to develop as the leader of your business. It also requires different things from a real strategy perspective. That depends on where the business is at. I’ve done some different episodes on the different stages of business. we will link those up in the show notes. I’d highly encourage you to go back and go through those. Those are highly valuable episodes as well. 

But essentially, your business growth is always going to be a reflection of your own inner growth and the level of strategy and to the degree that you are effectively executing that strategy in the business. So in order for any strategy to work effectively, and there are different strategies that I do coach my clients on that I do recommend that come into play at different phases of the game. 

But regardless of what stage you are in, there are some core foundational elements that must exist, that must be in place, that must be working in the business for any of it to work. So that’s what I really want to talk to you about today. 

So that first element that is so vital is your offer. When I say your offer, what I mean by that is the coaching program that you offer to your clients or the course that you offer to your clients, or it could even be a membership. It could be the container that you offer to your clients. It’s essentially what you’re selling. 

So it’s the container in which you help your clients achieve their desired result. So you have the tools to help them achieve a desired result, to solve a real painful problem, and that is what you do. So what’s really important to understand and to really get right in your business is that your offer needs to be irresistible to your most ideal clients. 

I want to say that again. Your offer must be irresistible to your most ideal clients. I encourage you to really listen to what I just said because there’s a lot of nuance that I’m going to go into into what I just said. 

So firstly, when I say irresistible, I want you to think about the word irresistible. Irresistible doesn’t mean just good. It doesn’t mean okay. It doesn’t mean something vague. It also means something that truly delivers the result that your most ideal clients truly want. It’s very important. It’s something that is irresistible to your most ideal clients. It’s something that they want no matter how much it costs, right? No matter what the container looks like. No matter how it’s delivered. 

Whether it’s delivered in a one on one format, whether it’s delivered in a group format, whether it’s delivered in a different type of format, essentially, it’s the result that your clients most want to achieve. So one of the things that I see happen over and over again, and I see this happen in client businesses and really just all over, is that a lot of times, the work hasn’t been done to really nail what it is that your most ideal clients want. 

So in some cases, it might be not wanting to do that work because you might think oh, I’ve already done that work before. Or you might think that you have nailed it, but the reality is that maybe you haven’t. Or maybe you don’t see the importance of it. Maybe you don’t really believe in the importance of doing that work. Whatever that is, it’s going to look different for everybody. 

What I will say is that if you want to create a high level of success, if you want your most ideal clients to see you as the solution, to see your program as the solution, then you must obsess over what that is. You must be continually looking at and evaluating whether or not you’re actually offering what it is that your most ideal clients want and need. 

So one of the things that I see happen a lot is where I see a lot of coaches who look to other coaches who are creating a lot of success in their businesses, and they decide to go out and to replicate what they might see somebody else doing. I do want to say here I don’t think that there isn’t any value in looking at what’s working. In fact, I think there’s a lot of value in this process of being able to see what’s working and what’s not. 

But what I will also say having coached hundreds and hundreds of coaches and seen the inside of so many businesses is that when you are just trying to replicate what you see somebody else doing, and when you’re not doing the work of truly finding out what your most ideal clients want, what your unique approach is and really adapting that and creating your own version of that to properly align with your audience to your most ideal clients and also to your strengths as a coach. When you’re not doing that, usually you’re going to run into some big roadblocks. 

So part of this is yes, seeing what’s working and taking best practices from certain places, but also really adapting that and really understanding for your most ideal clients what that solution needs to be. What that problem is and what that end result is that they most want to achieve. 

So when you do this, what happens is that as you take clients through this process, you test and you develop this process in a way where you create your own frameworks, where you create your own unique approaches to solving the problem that you solved. Where you are able to then hone your approach as how you work with your clients. 

So what ends up happening is you then actually start to serve them at your highest level in your highest capacity. So, the offer, the program, the product, the result of what it is that you’re selling first and foremost has to be really dialed in and must be irresistible to your most ideal clients.

So another nuance that I want to point out here that’s very important is when I say most ideal clients, I say that very intentionally. I will also say that in the journey of building your business, I do think that this is something that continues to be revealed along the way. It’s something that you will continue to hone as you go. It’s something that continues to evolve. It’s something that I can personally say it’s continued to evolve for myself over the years. 

That is what and whom you consider to be your most ideal clients. I believe that in the conversation of ideal clients that there’s actually a continuum where clients will be at different stages of their journey. Where there will be distinct points along their journey and distinct characteristics that they will have, and they will experience certain circumstances in their lives. All of them will be at different places along kind of a continuum. I like to think about it in terms of a continuum. 

So, for example, when I think about my own business, I am very clear on who my most ideal clients are. There are certain characteristics that my most ideal clients have. Number one, my most ideal clients need to have a true desire to build a highly successful business. For many of them, from a revenue standpoint, that typically means a million dollar level and beyond. 

I do have other clients that desire to grow multiple six-figures. We definitely support clients in that as well. I also know that my genius, my work, my true, and my most potent and powerful impact is for the coaches who have a real desire to grow to a very high level, to grow to that seven-figures and beyond. Along with that, who are also willing to do the work that’s required to do just that. That have the capacity to do this, and that are open to developing the capacity to do this. 

Of course, over the course of our work together, we build and we strengthen their capacity, both from an inner gain perspective and also from an outer strategy as well. But in every case, there are certain business circumstances that exist for my most ideal clients. I’m very clear on what those are. I speak to those things. I create content from those things. Because of that clarity, I have been able to develop my own frameworks, my own processes, to help these clients achieve a high level of success in a very accelerated way. 

So my entire business, all of the work that I’ve done to this point, has been very intentional and has been really set up to serve my most ideal clients. A the same time, I will say that it has been an evolution. I also know that it’s going to continue to be an evolution, and I think that’s a great thing. I love that. I love being in that constant process of evolution and iteration. 

So with that, back to talking about your most ideal clients, in order to do those things, you also have to be very tuned in. You have to be tuned in to your most ideal clients. You have to be very aware of the things that they’re experiencing, of what they are challenged with, of what it is that they want to achieve.

Also at the same time, as I’ve done in my own work and as I’ve done my own highest version of me, and as I continue to step further and further into that, my work has also been revealed in that process, and it continues to unfold frequently. There’s new levels to it. There’s new nuances to all of it. 

So I share this because it’s not something that will be static. Don’t expect this to be something that will be static. Like you do it once and then you’ll never look at it again. It’s something that you must be fully engaged in. It’s something you must value. It’s something that you will be continually working on so that you’re creating your business, all of the content, your process, your frameworks from a place that truly does serve your clients, and that is also irresistible to them. 

All right, so once you have an offer that is irresistible, and once you’re clear on what that is, which, again, I just want to say this is typically going to be a process. So this might even mean that you’ve already reached a level of success in your business. It’s very often for my clients that have reached a six, multiple six, even seven-figure mark. 

That, in fact, when I look at the clients that we have right now inside of our programs that have these types of results financially in their business, it’s that what we’re actually doing is, in a lot of cases, we’re refining their offers. We’re refining their processes. We’re honing in their approach, getting even more targeted in the marketing so that they’re serving at their highest level, and again, to their most ideal clients. 

So from there, it’s that you must then have a very direct and a very clear way that you are able to market and sell to your most ideal clients. I will say, I think this is one of the number one challenges that I see almost every coach struggle with. This is pretty much across the board. It’s the actual consistent marketing. It’s the actual consistent selling and then enrolling clients into the program. I will tell you, there’s a number of reasons that I see this happen. 

Of course, every business is going to be a little bit different. But at the same time, if you, right now, don’t have a consistent and effective way to market, your irresistible offer, if you don’t have a consistent and effective way to sell your irresistible program to your most ideal clients. If this doesn’t exist or maybe you’re doing what I call throwing spaghetti at the wall, you’re kind of just throwing out all different types of things with your fingers crossed, hoping something sticks.

I’m going to pretty much guarantee that your business is probably not at the level that you want it to be. You’re probably frustrated, and you might feel like you’re doing all of the things. What I will say is that a lot of times what’s actually happening is that you haven’t yet established an effective and consistent way to enroll clients into your program. 

Many times this can be because of a big lack of clarity in terms of your strategy, and/or it might be that your offer actually isn’t irresistible to your most ideal clients. Or it might be that maybe you’re not even clear on who your most ideal clients are. 

So amongst all of this when you have these different things competing against each other in the business, at the same time, what’s also very common is that you’re probably also, from an inner perspective, limiting yourself in the ways that you’re thinking about yourself, in your ability, in your business, maybe even about your audience, right? Other people in the industry, there’s so many ways that this presents. 

So this is why it’s so vital that you are doing both the inner and the outer work in order to grow. This is exactly why I have created the programs that I’ve created, and why this is the core part of our work in our mastermind programs. It’s because you have to be implementing a consistent and effective system in your business, which a lot of times I’ll refer to as a machine in your business, so that you can let others know. 

You can have conversations with your most ideal clients. So that they even see you as somebody that can help them solve their most painful problem, and that you have a very clear way that they can take the next step so that they can enroll into your program. 

So I want you right now to consider for yourself what does your current system look like? Number one, do you even have one? Are you clear on what exactly that is? Number two, is it effective? Is it happening consistently? If it’s not, that’s probably some of the work that needs to be done, which is, again, why this is the work that we do with every single client. 

The next element that you need in order to build a million dollar plus business is really a byproduct of demonstrating focus. What I mean by that is by focusing on those most ideal clients and being able to demonstrate this focus on your most ideal clients. 

So with that, you have to be able to identify where are those most ideal clients? Who are they? How do you put your focus there so that you can have those consistent conversations with them? So a lot of times this does look like going all in and really understanding where those most ideal clients are and going in on that acquisition channel, which means that you’re not hopping from one platform to the next. 

Which means that you’re not jumping from one strategy to another and really thinking that the strategies don’t work when really it’s may be that we’re not consistently communicating with our most ideal clients on the channel that they’re really already living at. 

So what this means is that you have to know where your most ideal clients already are. You must go out and meet them there. Again, this looks different for every business. Depending on who your most ideal client is, this will inform a lot of what this might look like for you. But here’s the other thing. It’s also important to know what this is for yourself and for you to lean into and develop the skills and the capabilities that are required to be able to meet your clients where they’re at.

There’s a number of skills that are extremely valuable to learn that must be developed in order to lead your business to a seven-figure level and beyond. But you also have to know where it is that you need to play based on who you’ve chosen to serve, based on what might be most natural to you. 

Some of you might already have certain strengths. I mean, you all have certain strengths in certain areas. So it’s really understanding what that is. So, for example, when I look at the clients who come into my million dollar mastermind, these are clients who have already typically created a six-figure or a multiple six-figure business who are ready to go to a seven-figure level and beyond. 

So in a lot of ways, they’ve created a level of success already in their business. There definitely has been skills that they have developed through that process. With that, there’s also a lot of new skills and new strategies and some tangible real things that need to be learned that we do help them learn and implement. Also, real shifts that have to happen in terms of identity, in terms of stepping into the identity of a million dollar business owner. These are all things that have to happen all at the same time. 

So it becomes this dance between tangible business strategy that must be working in the business, and it’s also this inner alchemy that I see of becoming the next version of yourself. It requires developing more and more capacity in a very intentional way. 

So having focus from a place of focus, creating and implementing in a way that allows you to meet your most ideal clients where they’re at, developing the capacities, developing the skills that are needed in order for that to happen are all essential to growing to seven-figures and beyond. 

So, so far, we’ve talked about the necessity of having one irresistible offer. I want to be clear here, just one. We’re not talking two. We’re not talking three. We’re not talking four. We’re talking about one really dialed in irresistible offer. We also talked about the necessity of having an effective and consistent marketing and sales system. 

We’ve just talked about going all in knowing who your most ideal clients are and where they are living and where they are already located so that you can talk to them, so that you can develop your skills, you can develop your capacity where you need to so that you can consistently speak to them, and ultimately enroll them into your programs. 

The next element is really, it’s a capacity for scale. Now, there’s a lot of things that go into this. There are elements as far as ensuring that your irresistible program has the capacity to scale. That, from a delivery standpoint, that it can be delivered to many. This is where a lot of times moving into a more leveraged group model delivery is where this comes in. It’s also growing your capacity as the leader of your business, and your capacity as an overall leader in terms of building a team. 

It’s about your inner energetic capacity to lead your vision forward while also building these key skills, while also executing on real strategies in your business. At the same time, it’s having the energetic capacity to drive forward, to drive your growth forward, to deliver to clients at a high level, to start to build out and assemble a team to help support you and help support the growth of the business. 

So leadership, ultimately, your level of self-leadership, your level of being able to lead a team, your level of thought leadership. There are different forms, I believe, of leadership capacity, that become more and more important as you grow. Over time, I’ve also found that you must also work to cultivate that very intentionally. 

So as you move through these different stages of business growth, it starts first with what I define as self-leadership. It’s choosing to demonstrate those high levels of self-leadership in terms of ownership, in terms of responsibility, in terms of your own personal resilience, in terms of the maturity that you demonstrate as you encounter inevitable challenges as you move through these different phases of growth. To the degree that you effectively demonstrate this level of self-leadership is also going to correlate to the degree and to the pace that your business grows. 

So I know that we covered a lot here, but I want to also, lastly, encourage all of you around timing. I want you to know that different elements that I laid out. So all of these things that we talked about, they can and do happen very quickly. I believe that it will happen much faster when you’re being supported by the right mentor and when you are staying focused, and when you really dial in and when you implement what it is that we’ve talked about. Growth can and does happen very quickly.

I also want you to know that growth can and also does take time. So I want to encourage you that if right now, timing is something that you are struggling with, I want you to not let timing become the thing that throws you off course. Don’t let your expectation of where you, quote unquote, should be, and you may be not being exactly there at this moment be the reason that you stay stuck. 

Instead, I want to encourage you to shift your focus on the things that we talked about today, on these different elements that are going to be required for your million dollar growth, to where you might need to grow your capacity, to where you might need to demonstrate a higher level of self-leadership.

To where you might need to invest in a higher level of support, to help you actually learn and implement the things that need to be implemented so that you can truly step into this million dollar version of you and ultimately lead your business forward. All right, my friends, have an amazing week. I’ll talk to you all again 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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