Today I’m talking about how to start a new coaching or consulting program with your best selling book so you can go from $0 to $264,000 in annual income. I chose that number specifically because it is the minimum amount that you can make with this model.
I first heard about this model from Kevin Nations. I was in his Mastermind group when he shared how he uses this model successfully so I also want to share it with you (from start to finish).
Coaching or Consulting Offer Model – Front End Offer
This model begins with a front end offer of $3,000, which is a lower ticket offer and is for a six-week program (which of course, is adjustable).
It can be an eight-week program, it could be $5,000, it could be a $10,000 front end program, etc. Could you go to $20,000? Yes, but you don’t need to. I want to start with a lower number, such as $3,000 because it’s an easy place to start.
Here’s what this might look like:
Example: $3,000, six-week program
- Five calls a week with prospective clients or prospects
- Goal: close just one of those prospects (which is 20%)
That’s not really a great closing rate when you’re doing it yourself, but I’m trying to keep this as conservative as possible.
A 20% close rate means that one person a week from five telephone calls is going to buy this six-week program of yours for $3,000. There are endless possibilities for how this program could look, but this is a general idea.
Psychotherapists, psychologists, psychiatrist, attorneys tend to sell their time for dollars, which is something you never want to do because truth be told, people don’t want to spend time with you.
People want a solution to their problem.
If they think that the solution to their problem is by spending time with you, they will bite the bullet and do that. So to avoid giving all of your time away, you have to create a program that solves their problem. You’re going to take them from where they are right now to where they want to be, whatever that looks like.[socialpug_tweet tweet=”Based on what your book is about, based on what your expertise is, what is the magic that you can add to somebody’s life? @BSPbooks” display_tweet=”Based on what your book is about, based on what your expertise is, what is the magic that you can add to somebody’s life? @BSPbooks” style=”2″]
Based on what your book is about, based on what your expertise is, what is the magic that you can add to somebody’s life? What is the thing that I can do for them in a six week period?
Get them one powerful result.
You don’t have to solve all their problems in a six week period, but if you can get one powerful result in six weeks, it’s going to make the second part of this a lot easier: the back end offer.
The Back End Offer
For the sake of this example, your backend is going to be a $10,000, six-month ongoing support program. If you give people the results they wanted from the $3,000 program, which is a small sum of money to get that result, at least one in four people is going to upgrade to your ongoing support.
How do you get the five calls a week? I personally use my book in conjunction with paid advertising and because of that, I’m able to have a sales team and my numbers are able to be a lot bigger on a monthly basis. However, you might be thinking, “I’m not ready to do paid advertising, I don’t know how to do it, etc.”
There are obviously challenges that come with paid advertising and there are a lot of things to learn so I’m going to take that element out. This can be done without spending any money.
I want to share Russ Ruffino’s story as an example.
Their front end is $10,000 to $15,000 for an eight-week program, but it didn’t start at that price point. It started lower around $3,000 to $5,000 and he’s raised it over the past few years.
His back end offer is a minimum of $50,000 a year for a coaching program. Russ is a buddy of mine, but I haven’t talked to him in some time, so it may be more. He brings in dozens and dozens of people into his front end program, and because he gives them such great results, many of them upgrade to his $50,000 a year coaching program. That is how he did $15 million in revenue last year.
In 2018, a man named Mosey Alex did the exact same thing, but he coaches fitness professionals, gym owners, and other professionals in that industry. His front end offer is $16,000 for a 16-week program. His back end offer is a three-year coaching program for $90,000. Those are the only two programs that he has. Last I heard, he was doing $2 million+ a month.
This is the exact same model that I just showed you: a front end program that gives a great result and a back end program that’s a lot more expensive, but it gives them even more value and amplified results.
So when I said to you that $264,000 is about the lowest number, I absolutely meant it.
This could be a massive, massive business for you, but you have to dial in what you can offer.
What can you give your prospective clients in six to eight weeks that will make them feel like they got the biggest return on their investment which will make them want to upgrade to your back end offer?
Let’s go back to the beginning.
Five calls a week.
How do you get five calls a week without paid advertising or marketing? There are 3 ways to do that.
Number 1: Linkedin. If I wasn’t using any type of paid advertising at all, I would be on Linkedin every day building relationships and reaching out to people. It’s such a great platform to do business on and it doesn’t cost you anything.
It will cost you your time, which of course you can never get back, right? You can always make more money, but you can’t make more time. However, you have to start somewhere and I suggest five calls a week. Just one call a day.
You have to figure out who your target market is and who your audience is. Who is the person that you can share your magic with?
Using Linkedin, you can target that person, reach out and connect with them directly. If you just use LinkedIn, you can easily have five telephone calls a week for people that are interested in your front end program. No question about it.
If I was doing this for Best Seller Publishing, who would I be reaching out to?
I’d be reaching out to anybody that’s a coach, consultant, or speaker because these are all people that want books. I’d have some type of simple copy and paste spiel that I would give them, such as:
“Hey, I noticed that you’re a speaker. I see you’ve spoken at these events.” (Something to warm them up.)
Then I would say: “I have this free resource I’d love for you to check out. It’s the six things you need to know to get speaking engagements more easily.”
And of course, those six things would all lead back to getting a book (my free + shipping offer for Publish. Promote. Profit ).
I’m just making this up off the top of my head, but there are a ton of tools and training on how you can build the rapport and the relationship on Linkedin and then take them to the next step.
Number 2: Giving content in Facebook groups and connecting with people in those groups.
Because of the group setting that allows me to search for groups that might be a good fit for the product or service that I offer, it’s easy to find and join those groups.
If I were doing this for Best Seller Publishing, I might do a search for coaching consulting, or speaking groups. I would join those groups and then I would become a presence in that group.
I would answer people’s questions, I would engage with them, I would give content, I would shoot video, etc.. I would do that every single day within Facebook groups and build relationships that way.
Because guess what?
When you show up, you’re going to be able to get on the telephone with those people and offer them solutions to their challenges and issues outside of what that Facebook group is offering.
Number 3: I would create content on topic with a call to action. That may mean a live stream on Facebook every day, a post sharing the success of a client, it could be something valuable to your audience such as this post that I’m writing now.
For this video (this post was first recorded as a video), we’re doing a multi-camera shoot. Why do we do that? Because this content is going on Linkedin, Facebook, and Instagram because we’re repurposing it to give, to build relationships, and to spread awareness of our message.
You can do that 100% for free, but you have to be systematic in doing it. If you did these things on a daily basis, you would have no problem having one telephone call a day with a qualified prospect.
Here’s the thing though…
…we don’t just want to have one call a day with anybody.
We want it to be with a qualified prospect.
So what do you do when you get somebody that responds to your content or responds to your Linkedin or Facebook message?
Send them a copy of your book.
This is the number one thing you can do.
Ideally, you always want someone to have a physical copy of your book in their hands, but if you want to move people fast, you can email them a pdf and get their mailing address to ship them a copy of the book as well. This would cost you $3 to print and $1 or $2 to ship.
Once you ship them the book and/or you email the book, then I would direct all of these people to a video that gives them a way to learn about me and what I do without me directly selling myself or having that conversation.
If you are one of my clients you know what this looks like. You’ve been through our indoctrination pages, you’ve seen our videos, the testimonials, the case studies, etc.
You want to create something simple like that for yourself. It can be as short as 15 minutes. It can be as long as they 60 minutes.
In this video, focus on pre-framing the conversation so that before you give anyone your time, you can figure out who needs and wants what you have to offer, and who wants it.[socialpug_tweet tweet=”In this video, focus on pre-framing the conversation so that before you give anyone your time, you can figure out who needs and wants what you have to offer, and who wants it. @BSPbooks” display_tweet=”In this video, focus on pre-framing the conversation so that before you give anyone your time, you can figure out who needs and wants what you have to offer, and who wants it. @BSPbooks” style=”2″]
You want to avoid getting on the phone with someone and them asking, “can you tell me what you do again?”
After you send someone a copy of your book, then the video that shows your case studies and successes, and how you take people through this six week process from the point of failure where they’re at, and then to the point of success which is where they want to be, you’re going to want to get on the phone with them.
They’re going to want to know how this program could be a good fit for them. You’ll take them through this process and then you reach back out to close the deal.
That’s why I chose these low numbers to show you how easy it is to get to $264,000 in revenue. It’s not hard to do, but you have to have systems in place.
You need five qualified calls a week.
As you get better, you’re going to close 30%, 40%, 50% of these calls. Then as you continue to grow, you’ll raise your prices. It can go from $264,000 to $564,000, then onto a seven and even eight figure a year.
What I like most about this model is that it allows you to grow your business as large as you want to grow it, but it’s easy to start small.
Using LinkedIn, Facebook Groups, and creating your own content are the most actionable steps to landing your first clients in a $3,000, six-week front end program. Sharing a copy of your book, a video with your success stories, and then getting on a call will allow you to close the deal.
That is the way to start your consulting program with your bestselling book. Use it as positioning, use it as credibility and authority to show people you literally wrote the book on their topic, then build it out from there. It’s not complicated. A quarter of $1 million is not hard to do.
Once you figure out what your offers are, and have everything in place, the sky’s the limit for you.