Can’t breakthrough to a 6-figure business?
The thought of being your own boss and running your own business is an exciting prospect, wouldn’t you agree? After all, that’s why you’re operating your own coach, consulting or training business to share your talents and help people achieve their goals.
Can you still remember the day you hung out your shingle, launched your website and announced to the world through your social media channels that you were officially open for business?
You continued to market your business, attend online and offline networking events, share helpful resources and even reach out to help people, with the goal of raising your profile and awareness of your services.
Yet regrettably that excitement turned to frustration and confusion. Because despite everything you’ve done (and continue to do) the number of people who are interested in your services is not what you’d hoped for. And, they’re certainly not investing in your services. And when they do it’s not really at a level that is paying you what you’re worth.
You didn’t realise it was going to be so difficult (and exhausting) to get new clients.
So, you increase your marketing efforts, attend even more networking events, and stay up to the wee hours of the morning tweeting, blogging, commenting on other people’s blogs. You share other people’s information, and anything else you can think of to build awareness.
Can you relate?
Many service-based businesses can. So they increase their marketing, networking and social media efforts, which unfortunately will NOT make any difference UNLESS they have 5 key pillars in place.
Without these 5 key pillars the hours spent on marketing and networking won’t have the impact they’re hoping for therefore making it very difficult to get more clients, get paid what they’re worth and build a 6-figure (or more) business.
Are these pillars missing in your business?
6-Figure Business Pillar 1: Your Ideal Client (Niche) For Rapid Business Growth
While your products/services may be able to help ‘everyone’ – if you’re trying to market your services to ‘everyone’, you’re really speaking to no-one.
Why? Because trying to be all things to all people means that you’re not speaking directly to the needs of your ideal client. Therefore, you’re unable to seize their attention and show them that YOU have the solution to their issues.
Here’s an example:
Imagine you’re a Job Search Coach and I’m currently looking for someone to help me get a new job.
When reading your website, the information you provide is not really convincing me that you understand what I’m going through. Nor do you position your services in such a way that I feel compelled to invest in (or even make contact with) you. So I’m off searching for another Job Search Coach who can help me.
Let’s see what happens if you were to niche your services and specifically target my needs.
I’m a Senior Sales Executive that sells high-end IT solutions to the financial market. However due to a decline in profits my company is looking at downsizing. With a family to support and mortgage to pay, to say that I’m slightly apprehensive and anxious about my job prospects, would be an understatement.
Yet, you specialise in this area and you’ve helped hundreds if clients like me transition quickly into senior level roles with your services.
And, when reading the information on your website, on Twitter, LinkedIn and through your Facebook business page, I get to know and trust you, and can see that you are someone that has the solution and necessary support that will help me achieve my goal. So I call you, and the rest is history…
Figure 1: Defining Your Niche
By niching and getting to know your ideal client so well that the next time your ideal client visits your website (or reads one of your articles or posts/Tweets) your message will speak directly to the struggles they’re facing.
You show them you know exactly what they’re going through; AND more importantly you spark their interest and create a sense of hope and possibility so much so that they feel compelled to get in contact with you to learn more about you.
My coach’s tip: Identify your niche and ensure all of your marketing material speaks to and reaches that market. You’ll soon position yourself as an expert in that niche market!
6-Figure Business Pillar 2: Your Powerful Signature Brand to Outshine Your Competition
Many people mistakenly believe their brand is their business cards, their website, and letterheads etc. While these are important they’re really ‘branding elements’ or what I like to call your ‘brand touch points’.
Your ‘brand’ is your reputation. It’s the perception others have of you. It’s what they think of when your name is mentioned. More importantly, by building a strong Signature Brand YOU are the person who’s mentioned (and not your competitors) when someone is looking for a professional in your field.
If you’re unclear about what makes you unique, your brand voice, what separates you from your competitors, and why someone should invest in you, then you’re going to find it very difficult to position yourself as an authority in a crowded market.
My coach’s tip: Get clear on these elements and make sure you continue to portray these in all of your branding and communications.
6-Figure Business Pillar 3: Your Signature System to Gain Expert Status AND be Paid What You’re Worth
Are you still charging by the hour?
There are only so many hours in the day and charging by the hour will restrict the amount of income you make. Also you may find yourself in a pricing war trying to justify your hourly rate when a prospect compares your rate with one of your competitors.
Remember, you DON”T get paid for the hour. You get paid for the VALUE you bring to the hour and for the results your client will achieve through investing with you.
Offering clients to pay you by the hour tends to devalue the benefits and results you offer as well as making it very difficult for you to distinguish yourself from all the other coaches and consultants offering similar services.
Therefore it’s important to create your Signature System and various programs and packages that incorporate your system, which you can then position strategically (and influentially) to your prospect.
My coach’s tip: Develop your unique Signature System by defining the steps you take your client through, and then creating various packages and programs that involve more than just your time so that you can quickly gain expert status and get paid what you’re worth.
6-Figure Business Pillar 4: Your Irresistible Free Offer To Grow Your List
Have you heard the saying: “The money is in your list?”
Your irresistible free offer plays a key role in your list-building strategy.
While this is a well-known expression, I’m surprised at how many coaches and consultants aren’t pro-actively building their lists.
Are you sending out regular messages to encourage people to access your irresistible offer so that your list is growing on a daily basis?
If not, you’ll need to get this key pillar in place immediately.
Remember, it can take 7 to 9 individual communications from you before someone decides to invest. And in a tight and difficult economy it can take double that amount of time.
Adding people to your list on a daily basis will give you the opportunity to send updates and helpful information as part of your keep-in-touch strategy so that YOU are the person they think of when they’re ready to invest.
My coach’s tip: If you’re struggling to grow your list, create a free offer (such as an e-report, a video or audio series etc) and make sure it’s relevant and of value to your ideal client and continue to encourage people on a daily basis to sign up for your irresistible free offer.
6-Figure Business Pillar 5: Your Memorable Personal Marketing Statement to Spark Attention
If I were to read your Twitter or Facebook bio – would I feel compelled to follow you? Or if we were introduced at a networking event, would your introduction inspire me to find out more about you?
Or do you sound like the dozens of other professionals in your area, some of whom are attending the same event and using an introduction that sounds very similar to yours?
Unfortunately for many coaches and consultants, it’s often the latter.
Your personal marketing statement should include elements of your Signature Brand, Your Signature System and the benefits/value you offer your clients so that people feel compelled to get to know more about you and the services you offer.
When done correctly you’ll definitely give yourself the edge you need to distinguish your service from all of the other coaches and consultants working in your area of specialty.
My coach’s tip: If you’re still stating your job title, or you’re not generating interest with your introduction then go back to the drawing board and make sure it’s memorable or compelling and relevant to your ideal clients’ needs and desires.
These 5 key pillars are a must if your goal is to make this year the year you make your mark in the industry, become recognised as the ‘go to’ person in your field, while creating a 6-Figure (or more) business.
HAVE YOUR SAY:
So, what do you think? Do you have some work to do? Or do you need some slight tweaking here and there to strengthen what you are already doing. Let me know in the comments section below. It’s always lovely to hear from you.
And, if you feel you need some expert support in identifying and building these 5 key pillars, come and join me on my 6-Figure Success Blueprint Group Coaching Program, starting soon! I’d love to help you map out your 6-figure (or more) business.
Are you ready?
Till next time, stay inspired and brilliant!
Interesting article Annemarie and so very true.
Too often many business owners are so stressed just trying to earn a living they forget that there is more to a successful business then working in the business (well, you know the rest)
I guess for many business owns, particulary those new to business, it is a problem just finding that Unique Selling Point that makes a business stand out from the rest and when they finally do find it they fail to advertise it at networking events, online etc.
Hi Marion, yes, you are quite correct. It is often very difficult for us to recognize our unique characteristics and offerings. I call this your ‘brilliance’. However this is so very important. Once you do, this becomes a central element to all your marketing and communications and what will make you stand out from everyone else!
A very enlightening article. I love the ideas you’ve shared here. It seems that there’s a lot of work for me to do.
Hi Kelvin, glad you found the article enlightening! These elements are very important and will certainly help you build some solid foundations on which to build a successful business!
The success of your business is depend on how you handle it and also on how your employees work make sure that each of you cooperate and share ideas on how to grow your business.
There are several factors and steps that you should consider like calculating how much available capital you’ll use to start your small business. The more money you have, the wider your options for the type of small business you can start. Consider getting a business loan at a local bank if you have the credit and the means to pay it back. As always, don’t dedicate money to the small business that you can’t afford to lose in regards to your household budget.
Nice post which many service-based businesses can. So they increase their marketing, networking and social media efforts, which unfortunately will not make any difference unless they have 5 key pillars in place. Thanks a lot for posting.