When I work with clients and get to know them I can often recommend specific programs and advise against other types of programs. Generally here’s what I say:
First, come up with a business idea you are passionate about. You can apply certain tests to see if it’s likely to bring you money. For example, does this idea lead to repeat purchases? Is the market easy to find? Are you a good fit for the market? For instance, I would have a hard time selling a beauty care product or presenting myself as a fashion expert. I could write copy for a fashion book … if somebody else wrote it!
Second, get some traction. If you are a coach or consultant, get a few clients. You don’t need a website. You just need to reach out and find people who will hire you. I don’t recommend offering free coaching. You can offer a discount, but I’ve found that prospects who grab a discounted offer will be quite different from clients who truly value what you have to offer.
If you have trouble getting some traction, you’ll need to do some soul-searching. Maybe you’re offering something the market doesn’t want. Maybe you don’t have a marketing mindset. Don’t spend a lot of money just yet. Choose a coach for just one or two calls and spend less than $500. If you see an improvement, try another round with this coach, to be sure it’s not a fluke. I’m obviously biased but my own Marketing Strategy session will make sense for you at this stage, if you offer professional services.
Third, once you get some traction, you will realize what you need. If your business model is based on selling information products, you will need copywriting. If you have a coaching business, you need client attraction methods and a professional website.
Finally, when you know you’ve got a market that will buy what you offer, you are in a position to take advantage of larger-scale mentoring programs. Remember that these programs will give a lot – but will demand a lot in return. To earn multiple 6-figure incomes, you will need to hire a bevy of assistants. You may need to create live events. You will almost certainly need to develop a package that’s a “Big Back End.” Before you sign up, ask directly about what you are expected to do. For example, if you can’t imagine yourself putting on a big event, you will have to get outside your comfort zone in a big way (and that’s not impossible). Or you may need to seek a new mentor.
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