3 Essentials To Package, Structure, and Price Your Programs & Services
How can you earn 6-digit revenue from your programs and services and build a lifestyle friendly business? I can teach you the essentials you need to package, structure and price your programs and services in order to generate a sizable income month after month. Let me help you share your message with your dream clients while having the freedom of time and freedom of money you need. All you need to do to start is share your own story.
Selling Your Programs & Services The Easy Way
1. Packaging Your Programs and Services
I got freedom in my life through helping others find it. pic.twitter.com/XuMcD0EEp9
— Ted McGrath (@ted_mcgrath) August 16, 2017
It doesn’t matter if you’re a coach, a consultant, a practitioner, or a professional who wants to transition into a career of helping people. Ultimately, this boils down to setting up a lifestyle friendly business that delivers transformation and an outcome that changes people’s lives. If that’s you, you’re in the right place.
How can you get 5 to 6 digit revenue from your programs and services? It’s actually quite easy. Use the power of your life story. Your own transformation.
Nothing delivers and communicates transformation better than the power of your own life story. That’s because when you’re sharing your life story about how you overcame your biggest problem and achieved your biggest outcomes and breakthroughs, your clients hear the transformation that you went through. Ultimately, they start to see the transformation and the outcome that you can deliver to them in your programs and services.
Remember, story equals real transformation and outcome. Then, real transformation and outcome become the powerful message that pulls in your dream clients. You’ll be highly paid for whatever it is that you do.
2. Structuring Your Programs and Services
When I started sharing my life story to the world, I was doing one-on-one coaching. I started my program at $3,000, then changed it to $25,000, then eventually reached six figures per coaching client. While it was a great start, the challenge was I felt trapped. To escape, I started to create group programs that had me coaching 20-30 people on the phone from anywhere in the world. Then, I began doing group programs in person with the same amount of people for live workshop and retreats.
Now I run a multi-million dollar business where I only do two coaching calls a month and show up in person about 10 days a year. That’s it. It freed me up to follow my passions, travel around the world with my girlfriend, spend time with my family, play golf, and do everything else that I love to do.
Let’s get into structuring your group program so you can start your own high-paying business.
Income and Cash Flow
When people first get started, they get paralyzed with fear and confusion. Oftentimes, they never even start. This is because they’re confused about where to begin.
I’m going to tell you exactly where to start for the most profitable lucrative business. The first piece is creating your group programs and services. These components are based on income and cash flow.
This is about bringing in income immediately. Because let’s face it, any business needs income and cash flow in the next 30, 60, 90 days. Without it, you go out of business.
Here’s the key thing, you can start your group program without any online marketing. You can launch this program by using your warm contacts and networks into your actual program.
3. Pricing Your Programs and Services
Phone Coaching Course
The first type of group program that I want to share with you is the phone coaching course. One example from this program is my client Trina. She teaches health and happiness, but she couldn’t seem to get people to sign up for her $25,000 one-on-one programs. To change that, I showed her how to do group phone coaching.
After deciding to do a 6-week course that she could run on the phone, she charged $2,000 per person. The cool thing was, she was able to put 3 people on this program. Her goal was to sign in 10 people. If she achieved this, she’d get $20,000 in revenue.
What if they did this month after month after month? That’s $240,000 in revenue a year with just one phone coaching program a month.
On the other hand, Alex, who pitches sales and communication to his clients, initially charged $5,000 for an 8-week course. He made $50,000 with the first 10 people that signed up for the program. From the same clients, he upsold to $71,000, giving him more than a hundred thousand dollars in revenue.
What’s the difference between Trina and Alex? The latter was more skilled in sharing the transformation and outcome of his message. Alex used to stutter but, ironically, he’s now teaching sales and communication.
That’s pretty amazing, right? I want you to think about how you want to structure your programs and services out of the gate.
Live Workshop / Retreat
Meanwhile, Jeany started her group program for spiritual transformation with a retreat format. The 2-3 day retreat cost about a thousand dollars.
When she started out, she was scared that her voice wouldn’t be heard. So she lowered her price point. The cool thing is, in her first year with this group program, she was able to raise $77,000 in revenue.
Another client, David, also does a 3-day retreat for “Man On Fire.” By comparison, however, clients pay $5,000 to join his program. You might be wondering how he was able to charge more for the same length of time for his retreat.
The key is, he changed the outcome of his brand. He targeted men who were suffering from their career and relationships. This high-achieving, yet struggling men would be willing to pay $5,000 just to get out of their slump.
He only put 8 people in his retreat, but he was still able to bring in $40,000. These same clients brought in more than $140,000 in income.
I can’t promise what your results are going to be. The true disclaimer is, you are going to determine what your results are. What I do know is, if you don’t set up an intelligent structure, then you won’t be able to bring in the consistent stream of revenue that my current clients are bringing in right now.
The action step that I want you to do right now is to decide. Will you try the phone coaching course or the live workshop or retreat?
How To Create Your Content For Your Group Program
What will you teach your clients in a 6 to 8-week course or a 2 to 3-day retreat? The key is to understand the transformation and outcome that you want to teach your clients. You need to know the exact steps that are going to create the transformation and the outcome.
David’s “Men on Fire” program wants to help men rediscover their passion, power, and purpose to achieve their full potential so they can reclaim their career and relationships. From there, I was able to help him create an entire program based on the keywords from his statement.
At the end of the day, the content that you’re going to teach will be based on your message and transformation. If you have the right structure, transformation, and understanding the content of what you’re going to teach, it becomes really easy to price your programs and services.
What I would like you to do right now is to pick a starting point — will you commit to a phone coaching course or live event? Second, what’s the one step that you would start teaching to your clients in this group program?
What transformation in your life do you think you can use to share to people as well as potentially earn a 6-figure revenue? Let me know in the comments section below!