Business, Goals Edition The 5 Step Process That Guarantees ANY Coaching Business Goal
By: Ryan Magdziarz • 4 years ago •
I’m personally sick and tired of seeing amazing coaches set goals that they don’t achieve. When you have other people’s lives at the receiving end of a goal, it’s important to follow through with the outcome no matter what.
In this article I’ve set it as my mission for you to walk away being guaranteed to hit ANY goal that you set, no matter the size and timeframe for its achievement.
I’m going to walk you through a 5-step process that will enable you to achieve your goals no matter what, but before I do, I want to explain the massive issue that stops most coaches from hitting their goals.
The big problem that I see with goal setting in this day and age for coaches is all centered around this idea of ‘being realistic’. This term is recklessly flung around far too often and understanding the core of how to approach the term will give you the secret to hitting your goals.
When you hear the term ‘be realistic’, you instantly think, ‘lower your standards’ and this is where the problem begins.
There are two ways that you can approach setting goals:
People usually approach their goals ‘emotionally’ and this is the problem. When someone tells you to ‘be realistic’, they are actually saying ‘I’m scared’ and fear is an emotion, not logic. This frustrates me; not only because the person is trying to lower your standards, but, because their accusation has no logical basis in reality.
To put a long story short, the process that I will be guiding you through is about being purely logical and truthful. I’m all about thinking big picture and embracing passion and other natural emotions, but I’m also obsessed with the details.
The reason I love the logical so much is because it removes all room for made-up barriers between you and your goals and this puts you in complete control of the outcome.
For as long as I can remember, one of my secret weapons to success has been mastering the skill of reverse engineering. I love the logic of looking at the outcome I want from any situation and then working my way backwards to figure out how to best achieve it.
This is the exact approach we are going to take with the 5 steps to achieving any goal.
Step 1: Realistic Goal
The first step in this process is to set the actual goals that we want to achieve in our coaching business.
If you were waking up in 12 months’ time after having a dream year…
How much cash flow would you be making on a weekly/yearly basis?
The key here is to not be tempted to look at this emotionally. In fact, I want you to DOUBLE the goal that you were thinking and then take THAT goal through the 5-step process.
I then want you to look logically at WHAT would be required for you to hit it that goal and judge how realistic it is, based on whether or not you are prepared to do those things to hit that goal.
You can then raise or lower your goal accordingly.
EXAMPLE: Realistic Goal = $500,000
Step 2: Sales Needed
The second step in the process is to determine how many sales need to be made to hit your financial goal.
To do this you need to know your ‘Average Client Value’ (ACV). You average client value is how much an average client is worth to you over a lifetime.Sales Needed = Goal/ACV
How many sales do you need to make to hit your yearly/weekly goal?
If you have an ACV that is less than $2,000 then you need to relook at your product suite and price points. The reason this is important is because your price point reflects 2 main things; firstly, it reflects the value that you offer and secondly your self-worth.
One of the biggest killers of ACV is simply helping people solve the biggest issue holding them back in their life (Biggest issue THEY believe they have). It’s easy to sell 1-to- 1 sessions, because you are promising a time fulfillment, but does that mean that you are promising to solve their issue once and for all?
The summary here is that having a premium product will get your clients better results and also get you better results.
EXAMPLE: Average Client Value = $5,000
EXAMPLE: Sales Needed = 100/year OR 2/week
Step 3: Leads Needed
The third step in the process is to determine how many leads you need generate to be able to hit your sales targets and therefore hit your goal.
Now that we know the sales required to hit our goal, we can treat our goals a little bit more ‘realistically’ with some context as to what is needed to hit it. Let’s get more specific.
In order to figure out how many leads are needed, you need to know what percentage of leads you convert to becoming a client.
Your sales conversion rate is something that plays a huge part in your ability to hit your goals.
If we think about the example given, the leads needed fluctuates from between 100 and 2,000 leads based on a conversion rate between 5% and 100%.
How many leads do you need to generate to hit your sales goals?
I honestly believe that every coach has the opportunity to convert at 80% or higher in their coaching business when they are talking to someone in their niche. You should never attempt to close anyone as a client unless they are in your niche.
Let’s look at what is happening when you speak with a potential client in a sales conversion. They come to you wanting your help and they are pretty disempowered, but, you are here to help and you are empowered and ready to help them.
When the conversion progresses you maintain your empowerment and thanks to your great advice the prospect becomes more and more empowered themselves, so much so that they are almost fully empowered.
The problem is that this comes to a halt very abruptly when the conversation goes from dreaming to doing. All of a sudden they go into freak out mode and are well and truly coming from the worth version of themselves.
The average coach closes sales between 10-20% of the time. What this really means is that 8 or 9 times out of 10 the worst version of the person you are trying to help, convinces the best version of you (the coach, the thought leader) that now is not the right time to change their life.
It’s ridiculous, but also difficult to change when we don’t understand the sales process. This is a whole other discussion, but for the sake of this process, I’m going to assume that the conversion rate is 50%. This means that half the time, the best version of you empowers the person in need to realize that they can do it.
EXAMPLE: Sales Conversion Rate = 50%
EXAMPLE: Leads Needed = 200/year OR 4/week
Step 4: The 5 Tasks
The forth step is to figure out WHAT now needs to be done in order to generate the leads needed and therefore hit the sales needed and therefore hit your goal.
You’ve come a long way.
You started off with doubling your goal and now we know exactly how many leads we need to hit our goal. It’s important to realize that these leads are the key and where your focus needs to be to hit the sales and cash flow goals set.
What 5 marketing tasks could you do every single week that would ensure that you generated the leads needed?
Be extra ambitious and even overestimate what would have to be done, in other words, safeguard your goals with slightly better tasks.
You are creating some steps that if executed would literally guarantee you would hit your goals.
It’s important to note at this point, that strategy advice from a marketing professional would help the certainty around your lead generation goals in a huge way.
EXAMPLE: The 5 Tasks
1. Running a seminar
2. Running a webinar
3. Launching a new creative online campaign
4. Setting up a joint venture partnership
5. Smashing ALL social media daily
Step 5: The 5 Traits
The fifth step is to figure out WHO you need to BE to action the tasks that are needed, to generate the leads needed, to make the sales needed, to hit your goal.
We are now logically in control over these goals because we know what our goal is and how we are going to achieve it. The only thing now standing in the way of our goals is us.
For some, this is daunting, for others it’s empowering. Let’s go with the later.
To maximize this section, we need to really nail the 5 traits, so instead of choosing 5 one-worded answers, lets create some meaningful traits.
What I want you to do to make this super effective. Think of the 5 tasks that you need to action to hit your lead generation goals and I want you to list out 5 roadblocks that could potentially stop you from hitting these.
It could be getting overwhelmed with technology and stopping.
It could be procrastinating.
It could be taking on a corporate consulting project to put off taking action.
Then I want you to form a meaningful statement around each potential roadblock. “Whenever I get overwhelmed with technology I will power through quickly until it’s done.” “I will work extremely productively when I’m working and then completely detach when I’m not.” “I will focus on my coaching business 100% no matter what.”
What this does is enable you to future pace anything that could come up and stop you from achieving your goals.
EXAMPLE: The 5 Traits
1. “Whenever I get overwhelmed with technology I will power through quickly until it’s done.”
2. “I will work extremely productively when I’m working and then completely detach when I’m not.”
3. “I will focus on my coaching business 100%, no matter what.”
4. “I will stick to my health routine and always be disciplined in that area.”
5. “I will always call leads as soon as they come in, to book them in for a breakthrough session.”
I find it incredibly empowering to go through that process myself and ALL of our clients use this to stay on top of their goals.
After you have gone through this process thoroughly, there is literally nothing in the way of your goals except for you.
If you are extremely driven to hit your outcome, the best way to maximize this process is to literally print out all of these KPIs and stick them on the wall.
If you read out these goals every single day, then you will 80% more likely to achieve your goals and if you follow the plan you will be 100% likely to hit your goals.______________________________________________________________
Ryan is a master of marketing, sales and business growth. Before the age of 21 he had started and run multiple successful ventures, including a marketing agency that he grew to a team of 8 people and an app that gathered over 100,000 downloads in the first 4 weeks. After a painstaking life breakthrough, Ryan realized his birth purpose and Winning International was born with the mission of raising a billion dollars for charity. With Ryan’s leadership Winning is currently on track to be the biggest organization in the world helping coaches grow their businesses.
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