May 2 in General
5 steps to monetizing your personal development passion:
Anyone heard of a guy called Hamza?
He makes millions from selling stuff he learned from reading books...
And guess what? You can do the same...
How do I know?
Because last year I scaled my personal development coaching business to 6-figures in revenue at 22 years old.
Here's how:
Every single successful business in the world has 5 elements:
- a WHO - Someone to sell to
- a WHERE - A desired outcome that the WHO wants to achieve
- a WHAT - A problem that prevents the WHO from reaching the WHERE
- a HOW - A method for helping the WHO solve the WHAT and achieve the WHERE
- a system for attracting, nurturing & converting the WHO into a customer
Step 1: The WHO
There are 4 elements your WHO needs in order to buy from you.
They must be:
- A growing market of people (quick google search will find this)
- Have purchasing power (can afford your services)
- Have a clearly defined painpoint and outcome that they want to achieve
- Can resonate with your story (optional, but ideal)
Without these elements growing your business will be a pain in the ass.
Step 2: The WHERE
A big problem aspiring personal development coaches make is they are generalistic with their outcome...
"I help business owners make more money, be healthier and have better relationships!".
Too vague.
Instead find a results oriented outcome that you can attach your coaching to:
"I help business owners eliminate stress & overwhelm so that they can sleep better and make revenue increasing decisions"
Much more tangible, right?
The best way to figure the goal out is by speaking with your WHO, and learning more about their desires.
It will always be within Health, Wealth or Relationships, but it needs to be tangible.
Step 3: The WHAT
This is the ROADBLOCK preventing your ideal customer from reaching their goals (the WHERE)...
As always, the best way to figure out these roadblocks is by speaking with your WHO about their problems...
I have to mention this again because it's a massive golden nugget that I don't want you to miss.
Step 4: The HOW (your offer + solution)
This is your solution to the problems that your ideal customer presents that helps them reach their goals...
And your OFFER is your solution presented in a way that makes them want to buy.
Now that you know your WHO, WHAT & WHERE...
Figuring out the HOW is pretty easy.
Here's how to do it:
Simply make your coaching programmes goal the goal that your ideal customer wants to achieve.
Do they want to get rid of stress to make money making decisions?
Make the programme goal to get rid of stress and make money making decisions. Easy.
Now if you don't already know how to solve that problem...
This is where you go and buy as many books as you can about reducing stress.
Okay cool. Now, how do we actually craft an offer?
Hormozi got it pretty spot on with the 4 components of an irresistible offer...
- Your offer must have a big results oriented dream outcome
- The perceived likelihood of achievement must be high
- It must be low effort and sacrifice
- It must take little time
But he missed one piece:
- Uniqueness of the offer
If everyone has the same offer as you it becomes a race to the bottom.
Make sure you differentiate yourself.
Step 5: A system for attracting, nurturing and converting strangers into customers
Personally I think instagram is the best platform to start a business.
There are a couple of paths you can take:
- Running ads if you have a budget.
2. Creating content & doing reachouts if you don't.
The best results will be when you do both.
Step 5 is a whole subject on its own, so instead I will just leave a link to my business & marketing plan that gives you our strategy for free and gives you clarity on everything I mentioned if it seems overwhelming.
Here it is:
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5 steps to monetizing your personal development passion:
skool.com/contentpreneurship
A cooperative multiplayer game where players collaborate to start and grow an online business to $5,000/month or more using Skool.
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