What do you say I give you the economics of a $20k per month business?
Remember I gave you the economics of a $5k business yesterday?
If not stop right now, and go find that email in your inbox and read it....
Ok, here's the model for the economics of a $20k per month business:
(First, let me say this...there are 2 other models for this that I will share first, I don't really teach these....but you can do them, and they work, although not as efficiently as my model, so I want you to at least know they are available)
Here is model one: To get to $5k per month, I showed you a model with 300 subscribers per month and 2 products, right?
So one way to get to $20k per month would be to just scale your traffic... get 4 times the traffic, keep selling the same 2 products - get to $20k per month.
And that is a fine model.
The reason I don't teach it is because there is (in my opinion) an easier way to get there (the way I do it).
The other model that I don't suggest (but exists) is to create multiple $5k per month businesses. So instead of one niche..you have 4, each making $5k per month.
Fine model.
But...I don't like it for this reason:
If you are in 4 niches, you have to be an expert 4 times over.
In reality, if you are an expert in 4 areas, you probably aren't as much of an expert in any one area than if you put 4 times the effort into just one niche to become the very best.
Wouldn't you rather learn from someone who is the "best of the best" instead of "just an expert"?
And if you would...wouldn't your clients?
And wouldn't it be easier to sell yourself, sell your products...if you were the "best of the best" instead of "just another expert"?
I think so.
So now for my model...
Now, if you don't remember the model for the $5k business, PLEASE go back and read that email again.
Because in that email I show you the one month plan to get to $5k per month.
To get to $20k, it won't happen in one month.
There will be several months to get there.
But I am going to show you what a month looks like...several months in, once you are at $20k, not the progressive months as you get to $20k per month.
Make sense?
The key would be to start with the $5k model, then roll up to this one over several months (If you wanted me to create a personal plan for you on what each of those months would look like, I could probably do that for you...drop me a line, we'll talk about what you need and I'll give you a price to do it for you)
So remember the $5k per month business:
30 sales @ $100 = $3000
10 sales at $200 = $2000
Now here is the $20k per month business:
45 sales of product 1 @ $100 == $4500
30 sales of product 2 @ $100 == $3000
20 sales of product 3 @ $100 == $2000
30 sales of upsell product 1 @ $200 == $6000.
Now, that is $15,500 per month so far, with 4 products.
Now, the reason I said it would take more than a month is...it will probably take you a few months to get all the products created.
Now...what about the final $4500?
You can create a couple extra products to get to it if you want to...but what I have found is that when you are selling 125 sales at the $100 - $200 level, about 20 people per month will become interested in coaching.
So... to get to $20k from $15.5k, you need $4500 from about 20 clients... let's even call it only 15 clients..that would be $300.
That is actually a little low - but it gets you to the $20k I promised.
But in real life I would probably go with a higher price...like $500 or $1000 for a few months of coaching...with upsell opportunities from there...which would put you well over $20k per month.
Of course, that also gives you some freedom if one product doesn't sell as well as predicted, and with those coaching prices, it would be ok if instead of taking on 15 new clients each month you only took on 10...you would be able to give them more attention, and not have as much coaching work yourself...
Anyhow, as you can see, there is some flexibility in this model, if you have higher or lower priced items, then it changes how many sales you need to get, etc.
But that's about how I do it (actually, my real life model is closer to the $100k model, which includes LESS coaching - when you are running a BIGGER business you have LESS time for personal coaching)
Talk soon,
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