1.5 Million Dollar Introduction to High Ticket Coaching Business
1.5 million dollars is exactly how much Ryan Hildreth made in one of his online high-ticket coaching companies. He made this amount in just over 12 months. In fact, he didn’t need a team of 20 employees, a fancy website, or even money to get started. The only thing he needed was to get real people real, awesome results.
Ryan Hildreth is not the only one doing this either. There are thousands of other people creating new coaching companies. They are making over a million dollars in their first or second year. The demand for online education is growing rapidly. In fact, last year this industry surpassed 300 billion dollars.
The question is, do you think you could get a small sliver of that 300 billion dollar pie? In this blog post, we are going to reveal 5 essential tips. The five tips can help you scale your coaching business and increase your earnings. We will showcase how Ryan Hildreth has taken his coaching business to the next level. We will also provide examples of other successful entrepreneurs who have taken their high-ticket coaching programs to million-dollar empires.
What is High Ticket Coaching Business?
According to my understanding, high-ticket coaching is a type of coaching business where premium coaching programs are offered to clients for a high price. With high ticket coaching, there’s no need to sell thousands of products. You just need one high-ticket program that can bring in thousands of dollars. Some coaches charge up to $100,000 for their coaching programs. High-ticket coaching allows coaches to work with fewer clients, reducing stress. So this enables them to achieve greater success while adding more value to their coaching. Clients who pay a high price for high-ticket coaching are more likely to pay attention. So they work hard to achieve results, resulting in faster and more effective results. As a result, high-ticket coaching programs are both effective and profitable.
Would you like to learn how Rohan Dhawan, a high-ticket coach, established UAbility, a million-dollar company, through his high-ticket coaching business? Read about how he founded this 7-crore company with only Rs. 15K.
Developing a High-Income Skill Set Can Lead to High Ticket Coaching Success
Essential number one is having a high-income skillset in one of the three popular niches: health, wealth, or relationships. It’s imperative to have a skill set in one of these three niches. Because that is what most people are willing to pay money for. People who are higher in weight or even underweight want body transformations. So body transformations attract more partners, help them live healthier lives, get more energy, and overall feel better about themselves. This makes them pay someone money to be able to help them get that transformation.
For example, in 2020, Ryan Hildreth paid $1,000 per month to a four-time Mr. Olympia physique champion. He trained him in bodybuilding and fitness. In fact, if the champion charged $2,000 or even $3,000, Ryan would have paid those prices. It is because the pain of not having his dream body was greater than the price of his services. Thousands, even tens of thousands of people out there are willing to pay thousands of dollars per month for health transformations.
Why People Are Willing to Pay a High Ticket Price for Your Coaching Program
In the wealth niche, people want to make more money. They want to be able to have time freedom, financial freedom, and make more money. This way, they could potentially step away from their 9-5 jobs. Ryan Hildreth’s coaching program, cashflowchannels.com, taught people how to make passive income with YouTube automation channels. This helped them generate thousands of dollars per month in extra income and potentially even leave their jobs. People were willing to pay Ryan’s company anywhere from $3,000 upwards of $10,000 to help them get this financial transformation.
Now, Let’s say you have a skill set in the relationship niche. You can help people attract more dating partners or find their dream partner for life. Then people are willing to pay tens of thousands of dollars for coaching for that transformation. In fact, there are billion-dollar apps revolving around the relationship niche. People are willing to spend money on memberships for those platforms, such as Tinder, Bumble, and Match.com. There are thousands of people looking for transformations in the relationship niche. They’re willing to pay you thousands of dollars if you have that high-income skill set.
Lots of newer coaches are teaching people how to utilize these dating apps to attract more dates and partners. And there are also coaches who teach the exact opposite of how to meet people face to face. No matter what niche you’re in, if it’s in one of the three that was just mentioned, you’ll have a much easier time scaling to seven figures.
How Getting Comfortable in Front of the Camera Can Help Scale Your High Ticket Coaching Business to Seven Figures
Essential number two for selling online coaching programs and scaling your coaching company to seven figures is getting in front of the camera. No matter how you feel, if your goal is to:
- Make multiple six or even seven figures.
- Have complete time freedom
- Not having to answer to a boss, and
- To help people get amazing results
Then you’re going to have to get in front of a camera and start filming.
In fact, if you go back to 2016 or 2017 on Ryan’s channel, you can tell that he was brand new to filming videos. He was much more shy and didn’t speak quite as loud. This is all a part of starting your channel or starting your online coaching program and getting comfortable in front of the camera.
Just look at some of the bigger influencers such as Gary Vaynerchuk and Grant Cardone. They all sucked at one point when they were filming videos. The reason you’re going to want to get in front of the camera is so that you’re able to spread your message everywhere and attract more clients.
Now, my goal for you is to start filming every single day, whether it’s filming an 8 to 10-minute YouTube video or five Instagram stories. That’s where you could start off with and start practicing, but the goal is to practice every single day so it becomes more comfortable. Because if you can’t get comfortable in front of a camera, then how do you expect to scale a seven-figure company and get your message out there and seen by the masses?
Why Having a High-Ticket Offer is Essential for Scaling Your Coaching Business?
The three essentials for selling online coaching programs and scaling to a million dollars per year is having a high ticket offer. If someone is launching a coaching business or currently has one and is charging less than three thousand dollars for their services, Ryan suggests they need to adjust their pricing model immediately.
While one can make a hundred thousand per year or maybe even 300,000 per year selling a 997 coaching program, to scale to a million dollars plus per year is almost impossible without sacrificing client results and the reputation of his company. In order for Ryan’s company to hit 100,000 months of profit, they need to spend money on paid advertising, which requires more capital. And if someone is only making a hundred thousand per year or three hundred thousand per year from their coaching programs, that is not enough capital to reinvest in advertising to scale.
The only way to get that capital is by charging more for their time and getting better client results for the clients they currently have. This is something that Ryan didn’t implement when he first started his coaching programs, which cost him around 10 million dollars in opportunity cost. Now, with hindsight 2020, Ryan is glad he made those mistakes because he is able to teach people like you so that you don’t have to make the same mistakes he did. So the moral of the story is to charge more for your services, at least three thousand dollars or more.
Read the ‘Make More Offers Challenge Review‘ to learn how to create highly convertible and irresistible high-ticket offers for your coaching programs
How to Cultivate an Audience on Social Media to Drive Traffic and Sales for High Ticket Coaching?
Essential number four is cultivating an audience on one or two of the best social platforms. For Ryan, YouTube and Instagram have worked the best, and he has seen this work for many of their clients as well. That’s why he believes that number one, one should start with YouTube, and supplement with Instagram.
Now, in order to get qualified prospects coming to his business every single day, Ryan will have to build and cultivate an audience on YouTube and Instagram. This is crucial, especially when he’s first starting out because it’s a free source of traffic for when he doesn’t have the capital to spend on paid advertising. It also allows him to test different creatives and videos so that when he does run advertising, he knows what works.
It’s also a great way to get his message out there, to reach tons of new people every single day, without having to upload every single day. Those pieces of content, especially on YouTube, are working for him forever.
Why YouTube is the Number One Social Media Platform for High Ticket Coaching
The reason why Ryan thinks YouTube is number one is because it’s a search-based platform. People are actively searching on YouTube for answers to their problems, and the videos he makes can answer those questions and provide those solutions. So, he’s getting a targeted audience that’s searching for answers, and they’re willing to stay on the platform to watch an eight to ten-minute video, which will build trust and connection with him and his company.
On Instagram, it’s a little different. It’s more interruption-based marketing, which is basically trying to get in front of someone with his company, coaching, and message. That doesn’t quite work as well because he’s interrupting someone’s experience. They’re looking on Instagram, searching, watching their favorite influencer, or looking at the latest Instagram post of a famous person or actor, and they’re not really in the mindset of learning and searching for solutions for their problems.
Also, YouTube is number one because it’s still undersaturated. Yes, Ryan said undersaturated. One may think that YouTube is oversaturated, but YouTube just released YouTube Shorts, which is pushing virality to new creators. Ryan is able to get seen by millions of people on his first or even second upload just because he’s taking advantage of their new features, such as YouTube Shorts.
Why Instagram is the Number Two Social Media Platform for High Ticket Coaching
Now, Instagram is the second-best platform for the high ticket coaching business. You should be using it because it allows people to connect with him by direct message. This is unique to Instagram, and YouTube does not have a direct message feature. It also allows him to showcase day-to-day content via Instagram stories so he could build a deeper connection with his audience and show behind-the-scenes of what a day in life looks like in his business, coaching programs, and also his clients’ experiences.
Instagram also has helped Ryan close hundreds of thousands of dollars in deals through direct messenger, so it’s definitely a platform he wants to utilize. He wants to make sure that people on Instagram are subscribed to his YouTube channel, and people on YouTube can go ahead and follow him on Instagram and even send him a direct message. That should be his goal with the two platforms, to commingle them and have them basically a part of each other to serve their different purposes.
Benefits of Hiring a Virtual Assistant for Scaling Your High Ticket Coaching Programs
In order to scale coaching programs online, Ryan Hildreth recommends hiring a virtual assistant. The first hire for scaling a coaching program should be a virtual assistant. A virtual assistant can manage emails, direct messages, comments, Facebook groups, client requests, and any other tasks that can be outsourced. By hiring a virtual assistant, the business owner can offload 1920 hours of work per year. Filipino Specialists can be hired via onlinejobs.ph to find virtual assistants. Ryan Hildreth explains his step-by-step process for hiring virtual assistants in this video.
Armin Shafee, Millionaire Coach, on Importance of Leads in High Ticket Coaching Business from 30K to 100K a Month
Armin Shafee, a millionaire High Ticket Coaching Business owner, shares his insights. He shares how to scale your business from making around 30K a month. He explains how to crack the 7-figure run rate of 100K a month. Let‘s see how he emphasizes the importance of leads in achieving this goal.
The Focus on Leads
The first focus you need to have in scaling from 30K to 100K is Leads. Shafee explains that when you know your sales conversions are good, you want to focus on lead generation. If you can close 30-40% of every sale and call that comes in, you can increase the volume that you bring into your funnel. However, if you have a poor conversion rate, bringing in more leads is essential. Shafee emphasizes that it’s better to scale something qualitative, not quantitative.
The Problem with Most People
According to Shafee, the problem with most people is they are too focused on close rates when they should be focusing on leads. Many people burn through a bunch of leads, resulting in a stagnant business. When you’re at 30K, you shouldn’t be asking how to squeeze from a 30% to 40% close rate. But you should ask how to get more traffic into the funnel and get more people to start conversations.
Appointment Setter Model
The appointment setter model is the perfect solution to focus on leads when your business is doing around 30K a month. This is the ideal time to get an appointment setter since you have a price plan that is closing, and your program is working. With a setter, you can have someone take care of your admin stuff and onboard clients. Besides, you can book calls for you six to eight hours a day, six days a week. This will help you stabilize at 100K a month.
If you’re already making around 30K a month and want to scale your business to 100K a month, focus on leads. Get an appointment setter to take care of your admin stuff and book calls for you. Remember that focusing on booking more calls and getting closer is more important than focusing on close rates. By doing so, you can stabilize your business at 100K a month and not just hit it overnight and then go backward.
Key Insights
The first thing you need to do when troubleshooting business problems is to identify the problem. Armin suggests looking at the KPIs that matter the most to your business. Are you not hitting your sales targets? Are you not collecting enough cash from sales? Once you have identified the problem, the next step is to troubleshoot the activities that are driving the KPIs. Are you doing what you’re supposed to be doing? Are you doing anything that you’re not supposed to be doing? If you are doing everything right, but you’re still not getting the results you want, it’s time to look at the quality of your work. Are you bad at something? Are you having bad conversations, writing bad copy, or making bad sales calls? If so, the quality of your work needs to improve.
Fixing Problems
To fix problems, Armin recommends using a process he calls “shadowing.” Shadowing involves watching someone who is doing something well and learning from them. For example, if you’re having trouble with sales calls, you can shadow someone who is good at making sales calls and learn from them. Another way to improve the quality of your work is to review it yourself. Listen to your sales calls, read back your posts, and think about how you could have done it better.
Avoiding Ego
The last thing Armin recommends is to avoid ego. When you start making a lot of money, it’s easy to start thinking you’re the best at what you do. You might start hiring a bunch of people and taking unnecessary risks. However, this can be dangerous. It’s important to stay humble and stay focused on your goals.
Learn about the ‘List Lion Review: 5-Day Fast Track Challenge‘ by Randy Maher program. While this is a high-ticket coaching program created to help affiliate marketers succeed in high-ticket affiliate marketing, even as a high-ticket coach, you can learn a lot from it.
Conclusion
In conclusion, there is a rising need for online instruction, and many businesspeople are starting coaching firms that generate over a million dollars in revenue in their first or second year. High-ticket coaching is a sort of coaching business where consumers can purchase exclusive coaching programs for a high cost. You need a high-income skill set in one of the three well-liked categories of health, money, or relationships in order to scale your coaching business and enhance your earnings. You need also to become at ease in front of the camera. This will help you to promote your message and draw in additional clients. With the help of these crucial pointers, you may build a multimillion-dollar empire while growing your coaching career.
