I’m often asked if there’s a secret to creating 6-figures and then multi-6-figures and beyond.
The answer is a resounding YES.
In fact, of all the 6-figure business owners we’ve coached (and all those I’ve worked with as colleagues) have all discovered and applied this secret early on … and it’s still an integral part of their business model.
The secret is… start with a high-end offer.
It’s a common misconception that when you’re building a business you want to “start where you are” by providing your services at a reasonable rate and then gradually work your way into higher fees.
And in the online world, it’s also common to want to jump to more advanced strategies such as offering group programs.
Both are costly mistakes. If you want to make 6-figures and eventually multi-6 figures, packaging your 1-on-1 services in the right way is what you’ll need to do FIRST. Here’s why…
- High-end offers are the fastest path to cash.
Cash flow is the lifeblood of your business. Quite simply, if you’re not making money, you don’t have a business. By definition a business exists to make money for it’s owner.
I know that doesn’t sound very sexy – for most conscious women entrepreneurs we prefer to look at our business as a vehicle for self expression, sharing our transformative gifts, or spreading our message and mission.
And that’s all great and true! But without cash flow none of that is possible.
You can’t give at your highest level when you’re constantly stressed about cash flow. On the other hand…
When you’re financially supported, your energy is freed up to work your magic and contribute in a bigger way. It enables you to give more.
- You’ll make a lot more money in less of your time.
In the “regular” 1-on-1 model, it’s nearly impossible to make 6 figures… unless you want to work your tailfeathers off.
For example, let’s say you’re charging by the hour for single sessions. At $150 / hour, you would have to deliver over 650 sessions in a year to reach 6 figures.
That’s a LOT of sessions – plus you’d have to spend time filling those sessions.
Or let’s say you’re charging $400/ month for private coaching sessions – which many people consider pretty good money. You’d STILL have to attract and enroll over 40 clients and convince them to stick around for an entire 6 months each to cross the 6-figure mark.
And think just about the delivery on that! Early in my business this was a trap I fell into and it led me right into burnout and barely scraping by.
When you start with a high-end offer, it’s a different story.
Let’s say you create a 6-month high-end package and charge $5000 – a great starting point for most coaches, consultants and healers. Just 10 clients at this fee who renew for a second program creates a 6-figure income.
- You’ll get your mission out in a bigger way
As we mentioned above, high-end offers give you cash flow and time freedom, while working in an intensive way with a limited number of clients.
And it’s that time that enables you to develop the channels to eventually get your message out to a much bigger audience on a leveraged scale.
Say, for example, you want to develop a group program. In order to do that successfully you need to have content and a process that’s tested and proven.
When you start with high-end you get to develop and refine your process in real time with actual clients (and get paid to do it!) Plus you have the time to create your content, build your list, market your program etc.
- You’ll begin to think like a 6-figure business owner.
You may have heard me say that success in business is 90% managing your energy and just 10% execution.
Who you are BE-ing in your business is even more important than what you are doing.
High-end programs help you uplevel “how you BE.” You hold a different energy when you are working with a client at the $5k or $10k level than when you’re billing $150/hour.
Plus, high-end programs attract a different kind of client – a client who is fully invested in their transformation and has skin in the game. These kinds of clients get better results, which is super juicy for both of you.
If you want to create a 6-figure income, you need to start thinking like a 6-figure business owner.
The Secret To Fast Tracking Your Income Is…
… to NOT skip steps.
Of course, high-end programs are not the only strategy you will ever implement in your business. You will get to create those group programs and retreats and get clients online and all those things you want to offer.
But this is where you start. This is step one.
You have to make 6-figures before you can make multi-6-figures, and high-end programs are the shortest, fastest path to get there.