Ep #238: Strategies for Building a 7-Figure (& Beyond) Coaching Business

How exactly do we help our clients grow their coaching businesses to six, multiple six, and seven figures (and even beyond)? This is the work I’ve been doing for over six years now, and when it comes to growing and scaling a business in the coaching industry, there are some secrets to success that might surprise you.

What stops entrepreneurs from creating the money and the impact that they truly desire through their coaching businesses? It’s not their niche or the quality of their coaching. It always comes down to their internal capacity as a business owner and their external strategy. You’ll learn how to improve both in today’s episode.

Tune in this week to discover the two secrets to success as a coach. I share where you might currently be wasting your time in your coaching business, and you’ll learn both the internal and external work that will allow you to grow and scale toward seven figures and beyond.

 

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:

  • Where coaches go wrong, wasting time on activities that don’t move the needle in their businesses.
  • The internal and external strategies I use in my coaching practice to help overcome challenges in your coaching business.
  • Why my clients achieve extraordinary results in an accelerated timeframe.
  • The high level of personalized support you need to grow and scale your coaching business.
  • How we help you build a highly successful coaching business and overall brand.

 

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!

 

Download a Transcript for The Life Coach Business Podcast

You are listening to The Million Dollar Coach Podcast with Amanda Karlstad episode number 238.

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 today’s show. I am super excited to dive in today. As always, I have a special episode for you. Today I want to talk with you about how we help our clients grow to six, multiple six, and seven figures and beyond. How specifically, I’ve been doing that now for the last six plus years. 

I wanted to create this episode for you because when it comes to growing and scaling a business, especially in our industry, one of the things that I see that holds many coaches back from truly stepping into their success and truly creating the business and the impact that they desire is usually not because they don’t have a great niche. It’s usually not that they don’t have a great program or at least have the ability to create a great program for their clients. 

What I have found is that it always comes down in each and every case to the capacity as a business owner, to your identity as a CEO, to your identity as a coach. So it’s really this inner work. Along with that, it’s also the external strategy. So it’s all of the things that you are doing externally to grow your business. It’s how well you’re doing the things that actually matter when you’re growing your business. 

For many coaches, it might actually be doing things that from a pure strategy perspective are not aligned with your goals. Or it might be using certain tactics or spending time on things that aren’t moving the needle to the level that you want or not spending enough time on the things that actually are moving the needle. 

It might also be a gap in your skill level in terms of how well you’re able to execute a certain strategy. It might be a template that, for whatever reason, you’re using this template, but it doesn’t quite fit your business or your strengths or even really align with your business goals. I see this happen very, very frequently. So there’s a lot that can and does occur from also a pure external strategy perspective that more often than not is also contributing to the lack of growth. 

So not only is it all of the inner game that I call it, but it’s also your ability to, in conjunction with that, to successfully and effectively execute the external strategies that will truly grow the business. So today, we’re going to talk about that. We’re going to talk about some of these things. 

I want to give you some behind the scenes perspective that I have and really talk about how we help our clients overcome these very real challenges in their business. Because I think having this perspective is really, really important. So in this episode, I would really encourage you to take an honest look at this for yourself and look at where you might currently have some gaps and how you might be able to also bridge that gap. 

When I look at all of our clients and the clients that we have helped over the years, one of the reasons that I believe our clients are able to achieve such extraordinary results in a very accelerated amount of time is for a few reasons. One of the main reasons is that no matter if you are building towards your first million, which is the work that we do inside of my Million Dollar Mastermind. This is where all of the work that we do is centered around this goal, is centered around scaling and helping our clients scale their businesses to that next level. It’s really taking businesses typically from that six or multiple six figure mark and really scaling it to that seven figure range and beyond. 

You could also be in an earlier stage of business where you’re growing to maybe your first six figures, or maybe you are working to be more consistent in your business and really generate six figures or multiple six figures consistently in your business, which is also the work that we do inside of my business accelerator program called The Mastermind. 

So no matter where you are in your journey, one of the ways that we help our clients achieve massive results no matter where they’re at in their business in an accelerated timeframe is because, number one, we are very clear no matter where your business is currently, no matter what your revenue looks like, we are very clear on what will move the needle in your business. 

Depending on where your business is at, it is very powerful when you are in a place where you have very clear, very direct, very succinct coaching and advisory on what the best strategy may be for you based on where you’re currently at. I think this is a very important distinction. It’s really important if you’re growing a coaching business that you understand the level of nuance that is required in terms of overall strategy. What do I mean by that?

What I mean is in terms of your niche, for example, in terms of your strengths as a coach, in terms of your strengths as a business owner. Because here’s what I have found. If you are simply working from a template, which I will say on a side note here, I have many templates, many resources, many tools inside of my curriculum to help clients really move quicker in implementing external strategies in their business. 

But at the same time, if you’re just working from a template and you don’t have real experience in how to actually apply that to a business, if you’re not really considerate of the nuance that exists in your business and how that might look in your business versus somebody else’s business, it can present a lot of challenges. 

So one of the things that I see is the reason that our clients are able to achieve such extraordinary results is because our process is highly personalized. It’s because of the high level of support that we offer. What I have found over the years now having coached hundreds and hundreds of clients is that there is no one size fits all. Building a million dollar coaching business is a journey. It’s a very personal journey that requires you to think in levels that you likely haven’t thought before. It requires you to grow your skills, and grow your capacity in so many different ways. 

So the first point that I really want to make here is that it isn’t just about taking some template out of a course, for example, and installing it in your business. The difference is really thinking deeply and being very intentional about how to best implement that external strategy that maybe you haven’t considered before. Or it may be about being willing to see where you have gaps and being willing to grow your skill and grow your capacity around the actual strategies that you’re trying to implement. 

The point here is that there will always be a dance between the internal and the external. So much of the external strategy piece will always be driven by what is happening internally in every single case. So being able to approach your business from both standpoints and for us to be able to really hold space for both of those things in our process is really, really powerful. 

Because the internal narrative, the internal conversations that you might be having and who you see yourself to be, what you believe, what is your self-concept, all of this in combination with growing your skills in a particular area, being able to apply a level of precision to your strategy and having the tools and the resources to do this so that you can ultimately implement these strategies so much more quickly is a very, very powerful combination. 

So I think this is something that can only come from real experience being in the trenches and having coached and mentored advising at a very high level. I’m really, really proud that we’re able to support our clients in this process. 

The next thing that I think supports our clients at a very high level in their journey of growing and scaling their businesses is the ability that we have to help them discern. Here’s what I mean. There are a lot of things in the industry. There are a lot of decisions that you will make as a business owner. 

What I tend to see happen is that when you are in that process and you don’t have a sounding board, when you don’t have a trusted adviser to really kind of bounce things off of, it also can present a lot of challenge. So because we have a level of expertise in not only the inner work but also in the external strategies, there’s also a high degree of certainty that I am able to bring into my coaching containers and around the things that, as I mentioned before, will either move the needle or not move the needle in the direction that my clients want to go. 

So one of the things that I see happen over and over again is that there are certain trends or tactics that a lot of times come from a social media perspective, that maybe come onto the scene where a lot of coaches then think they need to all of a sudden implement certain things in the business. Or it might be something that you see somebody else doing. What tends to happen is that it’s very common to want to implement these things in your own business. 

The problem with this is that I see for a lot of coaches when you’re not using the right strategy for the right stage of business that you’re in, it can become very problematic. So, for example, you might be trying to implement right now a certain strategy or a certain tactic that you might see, let’s say, an eight figure business doing. Yet, you don’t actually have the foundation of an eight figure business. You don’t have the makeup of a million dollar business, and you might not have the resources that that eight figure business has. 

So it’s really important to understand that you can’t skip ahead all of these levels, and you can’t skip ahead and be working to implement strategies that are really effective maybe at a net figure level when you’re not at six figures yet. This is really important to understand. 

Because what will grow your business to that six figure mark, to that multiple six figure mark and revenue will be different from what will grow your business to seven figures, and then eight figures, and beyond. So not understanding these differences and trying to implement these things too early in the business, again, can be very problematic. There is a lot of nuance here. 

So the truth is, is that I see a lot of coaches who are spending time and spending energy and, in many cases, their money on trying to implement certain strategies in their business that isn’t even right for the stage of business that they’re in. So having the ability to discern these things and also knowing with a high degree of precision, I will say, I have observed this as being the difference between somebody who is very successful in this industry versus somebody who is not.

Because the truth is that this isn’t something that you just have. It’s something that you only gain from experience and only gain from a certain level of expertise and thousands of hours of coaching and working with clients in this process, which is what we have. So having this level of expertise and discernment on your business, having those types of eyes on your business is very, very powerful. 

What I will tell you is that I have seen in so many cases that this alone can ultimately shave off years of trial and error. It can shave off years of you trying to do things on your own, which that in and of itself is such a great investment in your business. Because the revenue that then you are able to generate as a result of that and the revenue over the course of the business that you will generate because of that work is truly extraordinary. 

All right, the next way that we help our clients grow and scale highly successful coaching businesses and brands is, I believe, because of one of the superpowers that I have. This is part of my human design. This is who I am fundamentally. I am an alchemist by nature. 

So my role, what I’m here to do in this world, is essentially to help people’s dreams come true, and specifically in business. So a lot of my own personal work has been centered around this. My program and the curriculum that I’ve developed and I’ve built over time is also a product of me doing this, of helping others make their dreams come true. So I truly believe that my divine mission is to help create and to help usher in the modern millionaire. 

I have done a lot of personal work around this. I will say that there is absolutely an element of magic within my work. I am highly intuitive. I am always bringing this into my work with my clients, even when we’re talking about things like tangible strategy. 

So with all of this, one of my personal and most favorite elements of the work that I get to do with clients is to help them step into who they truly are here to be, to be able to see and communicate and hold that expanded vision for them, to be able to alchemize the tangible pieces within the business, to calibrate them to their next level.

I think this is so powerful, and it’s a very unique approach that I have. It’s very different. It’s very potent. It’s a very powerful process for my clients. So having that ability to see what that expanded vision is, to be able to see the business, to see the brand at a level that is fully expressed is a very, very powerful thing. It’s one of my most favorite elements of my work. 

I do believe it’s another reason that our clients specifically get such exhilarated results, especially when they’re fully engaged in the process, especially when they are actively in the game. It really creates a profound process of alchemy at the highest level through the vehicle of entrepreneurship. I take that very seriously. 

I think a lot about my parents and their generation. I’ve talked about this before. But for most of you listening right now, if you consider your parents for a moment, and you consider their generation and the opportunities that they had versus the opportunity that you have right now in this moment, I know for me this opportunity of growing and building an online business in the way that I have, the financial freedom, the opportunity that this business provides, the time freedom, the level of impact that I get to make. The truth is that this opportunity did not exist even one generation ago. 

So because of that, I don’t take what I do lightly. I don’t take this opportunity that I believe is one of the greatest opportunities of our time for granted. So being able to now help my clients, to see them and challenge them to be their highest and most expressed versions of themselves, is an opportunity of a lifetime. I’m so proud I get to do this work. 

All right, the next way that we help our clients grow and scale highly successful coaching businesses and brands is that how our process is structured and the elements that we help our clients implement in their business. So the best way that I can sum this up is that this is centered around real business. In a lot of ways, I feel like the containers that I have created at the foundation of those containers, it is real business education. I’ve heard this on numerous occasions and several clients who have also expressed this. That they feel like it’s almost as if they’re earning a mini MBA in the program. 

What’s really fascinating for me is that there is very much a part of me who even from the beginning has very much thought that. That the level of work that we do, that the high level of coaching that is happening, the advisory, the mentorship, all of the ways in which we support our clients, the training and the resources, that that level of conversation that is happening, the fact that it is such an accelerated experience. That it truly is a mini MBA education in some ways, but it’s also very much applied in real time. 

So, again, this is why I believe clients are able to achieve such extraordinary results in record amounts of time because of the fact that we are having those levels of conversations. We are having intelligent conversations. We are having elevated conversations that are very much based in real business education. 

So I would invite you all to take a minute and to consider these elements for yourself right now and look at how you’ve been approaching your business, look at where you’ve been focusing your energy, look at where you’ve been focusing your resources, and ask yourself what might be possible for you if you were approaching your business in this elevated way. 

Because here’s what I know. I know that your time is now I know that what you want is 100% available for you. I encourage you to trust that and to also get after it. Let’s go, my friends. Have an amazing 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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