Karen had thrown everything she had into making a go out of building an online coaching business but now she was ready to throw in the towel and return to her corporate job. Her dream of building a lifestyle that would enable her to work remotely as she traveled the world with her children and afford the luxuries she sought whilst enriching the lives of her clients through her expertise was hanging by a thread.
This wasn’t at all what she had envisaged, and as she opened up about her story, it was clear that she had taken the leap into the online space under the pretense that – when the world is your market – it’s not that hard to get just even 20 people to buy from you.
We All Want a Cut of 1.6 Billion Dollars, but….
We’ve all heard the stories – how a social media coach made $40,000 in one month by enrolling 200 people into her course, how a yoga teacher is earning $100,000 a year running an online membership site and how a business consultant turned $40 in ad spend into $10K in revenues.
Who could blame anyone for wanting a slice of the pie – it’s like the pot of gold under the rainbow that we’re all in search for! Imagine earning six figures in income per month for 20 hours of work doing something that you absolutely love. That is called winning at life!
But the unfortunate reality is that the majority of entrepreneurs who take the leap don’t make it.
The reason isn’t because there is no more money to be made – on the contrary consumers spent a purported 1.6 billion dollars in online coaching & self-help programs last year alone, there is PLENTY of profit to go around. It’s not because they are playing a game of luck or chance – sure there are a few entrepreneurs who break big without ever trying but these are about as rare as becoming a professional athlete.[There is PLENTY of profit to go around]
The reason most online entrepreneurs will fail is very simple. They don’t understand how to market online.
Develop a Funnel
Here’s the thing, wealth in business all comes down to your ability to turn advertising dollars into profits. To do this online you need a funnel that generates you leads and nurtures them through to purchase because the reality is that it is VERY hard to sell to even just 20 people if you don’t have a funnel in place.
There are several different types of funnels that work well with professional service entrepreneurs – finding the right one for you will come down largely to your price point, the offer, your audience and the industry you are in.
One thing you need to get comfortable with is using Facebook ads and leveraging the platform to its fullest. This can generate you unsurpassed ROIs and is hands down the most cost effective and quickest way to market yourself – whether it’s to grow your email list, build up a Facebook Group or send people through to your webinar.
If you’re looking for your share of a billion dollar industry and you are already an expert at what you do than selling your online program is a great way to build the life of your dreams but make sure that you are clear on what you need to do to find leads and turn those into clients.
Building a Funnel for Your Online Program
If you’re still needing help and guidance on how to do this – register for the upcoming workshop that will take you through the 5 simple steps to building a six figure Faceboook ads funnel for your coaching or consulting business.