Table of Contents
Reason #1 You are Undercharging
Reason #2 You Have Too Many Offers
Reason #3 You are Stuck at the Center of your Business
Reason #4 You are not Investing in the Right Support
Reason #5 Your Mindset Needs Work
Reason #6 Your Marketing Machine is Either Not Built or It’s Broken
Reason #7 You Don’t Have the Right Team in Place
If you are a coach or consultant who is making between $250,000 to $700,000, you are not alone. If you find yourself stuck making less than 7-figures, there is a reason why. I know so many coaches and consultants who are stuck in the six figures who can’t seem to crack the code on how to make millions. The main secret is learning how to sell and scale ultra-high-ticket services. This means selling your coaching or consulting services for high five or even six figures. When selling ultra-high-ticket packages, you will realize quickly that it doesn’t take that many clients to get you over the 7-figure mark.
Here are 7 reasons why you are stuck making less than 7-figures:
Reason #1 You are Undercharging
The first reason for being stuck making less than 7-figures as a coach or consultant is you are undercharging. If you are billing by the hour or selling small packages, you are most likely stuck in the six-figures. Even if you are already selling six-figure packages, you may need to raise your prices to reach 7-figures.
The key to reaching 7-figures is to sell ultra-high value programs.
The majority of coaches and consultants who come to me, even if they have a lot of experience, are severely undercharging. You must fix your pricing model if you want to scale to 7-figures. I work with my clients to double or even 10x their pricing which makes a huge impact on their bottom line. If you are undercharging, you are leaving money on the table and holding yourself back from getting to the next level.
Reason #2 You Have Too Many Offers
The second reason that you are stuck at making less than 7-figures is that you may have too many offers. I’ve had clients come to me with a dozen different offers. My client Michele, had seven different offers and was stuck between $250,000 to $300,000 for 3 years. We streamlined her offers to just two and scaled her to 7-figures in less than a year. If you’re a consultant, having too many offers is a lot to juggle. You may find yourself customizing all of these different proposals for each client with each one having a different price point.
It’s a lot to track and manage and it’s not simple and scalable. If you want to get to 7-figures, you need to simplify your pricing model. This means not having a lot of offers or customizing your offers for each of your clients. Check out the 7-figure case study which breaks down step-by-step how we took my client Michelle from stuck in the low six-figures to back-to-back 7-figure years.
Reason #3 You are Stuck at the Center of your Business
The third reason why you are making less than seven figures in your coaching or consulting business is that you are stuck at the center of your business. If you do not have the right pricing model, the right strategy, the right systems, and the right team in place and you’re trying to manage all of the different levels of the business by yourself, you cannot scale. This is the biggest reason why people stay stuck. One of the most important things I do with my clients is help them to take a step back and remove themselves as the bottleneck of their business. My client HR, a business strategist and leadership development expert, is a great example.
When he came to me, he was already selling six-figure packages, but still wasn’t breaking through to the 7-figure mark. His schedule was so packed and he was stuck in the center of his business that even if someone wanted to hire him for six-figures, he couldn’t take them on as a client. He had no space left to take on new clients and this was a huge problem. He began working with me and we were able to completely transform his schedule, eliminate old clients, and raise his prices.
He started 2023 making the same amount as he did in 2022 in half as much time. What does that mean for him? He can take on more clients. We also have his marketing, his systems, and his team in place to scale him to 7-figures in the coming months. If you are in a position where you don’t have the capacity to add more clients or to work more hours, then YOU are the problem. Until you remove yourself as the bottleneck stuck at the center of your business, you cannot scale to seven-figures.
Reason #4 You are not Investing in the Right Support
The fourth reason why you are stuck making less than seven-figures is that you are not investing in the right support. The majority of business owners that come to me have invested upwards of six-figures into building their business. However, oftentimes it hasn’t been the right support. For example, a coach or consultant who thought writing a book was what was going to scale them to 7-figures may invest $50,000 into a best-selling book writing program. But then they do not go after the right market, don’t have clarity around their audience and their offers, and their book ends up being a wash. This happened to my client James. Despite a failed book launch, we totally transformed his strategy to go after a higher caliber market and he generated half a million more in his business.
Sometimes a coach or consultant will hire an expensive agency to manage their social media but the agency is putting out generic content that doesn’t speak to their ideal client pain points. Others fall prey to the gurus and buy into a webinar and Facebook ad program when their clients aren’t on Facebook and they are marketing to CEOs who aren’t going to watch a webinar. I have many alumni from these programs. If you’ve invested a ton in your business and you’re still stuck, that doesn’t mean that you stop investing. People come to me who may have a lot of the pieces of the puzzle, but it’s not put together in a way that allows them to scale. You must work with an experienced strategist who knows how to go in and look at your business as a whole and show you step-by-step how to transform your situation. It’s important that you have intimate access to this coach and not be one of many in a large group program. It’s also important that this person has created those results for themselves and their clients.
Reason #5 Your Mindset Needs Work
The fifth reason why you’re stuck making less than seven figures is that your mindset needs work. I work with high performers and they are people who tend to be workaholics. They have no control of their calendar, they’re totally hustling and grinding, and they’re exhausted. Part of the mindset shift is upgrading their belief systems around their self-worth, around their relationship to work, and around boundaries with clients. This is how my clients are able to let go of the clients who no longer align with them, bring in clients who respect and value them, and pay them a lot more money.
My clients are then able to make a lot more while working half as many hours. Your mindset plays a significant role in your ability to be a successful 7-figure business owner. If you’re not in the right headspace, it’s going to affect everything in your life and in your business. Mindset is a huge component of what we do. If you find that you are just focusing on strategy and don’t have the support to shift your mindset, you cannot get to 7-figures in your coaching or consulting business without burning out.
Reason #6 Your Marketing Machine is Either Not Built or It’s Broken
The sixth reason why you’re stuck at less than seven figures is that your machine either isn’t built or it’s broken. Without a machine you have no control and predictability in your business. This is specific for coaches and consultants who have a referral based business. Referrals are great but they are unpredictable. If you want to scale from six to 7-figures, you need to have control. You need to be able to influence the number of leads coming into your pipeline and influence the number of sales that you’re making each month. You do this by having a funnel that is built and converting leads. Many coaches and consultants come to me stuck in the six figures without a funnel. It makes sense because if you’ve been so busy with referrals and serving those clients, you may not have thought about building a machine or you may have found it to be very overwhelming.
This is why so many people make the mistake of hiring a funnel builder and building out a machine that doesn’t work. There is a very specific process to go through before you ever build a landing page. The other scenario you might be stuck in is having a machine that’s broken. You may have paid to have funnels built. You have opt-ins, you’ve done webinars, and yet your funnels are not converting like you want them to.
In order to scale, you must have a machine that converts.
Otherwise you will be wasting money on paid advertising which is what you need to scale your business beyond an organic reach that is keeping you stuck at six-figures. Whether you haven’t built your machine yet or you have a broken machine, you have to fix this to scale to 7-figures.
Reason #7 You Don’t Have the Right Team in Place
The final reason why you’re stuck at less than seven figures is because you don’t have the right team in place. Many coaches and consultants who come to me have a VA or someone supporting their business but oftentimes it’s not the right person. Some of them have really large teams with too many different people doing things they don’t even need. It is absolutely essential that you have the right team members in place to scale to seven figures. You likely need an outside strategist, like myself, who can help guide you into putting your team together.
You need a marketing outward facing person who can support lead generation. You may need someone who can help you with client management, operations, sales, and copy. It all depends on your strengths, goals, and stage of revenue. Putting these team members in place requires having the cash flow to do so, knowing exactly who to hire, what to hire them for, and when to hire them. This is essential to scaling to 7-figures. You are going to feel what I call “CEO Growing Pains” on your journey to 7-figures and you’re going to feel the need for different support. The more proactive you can be at getting your team in place, the faster you can scale.
Let me know in the comments below which of these reasons is keeping you stuck from reaching the 7-figure mark in your business. I would love to hear from you. If you are ready to challenge yourself and set yourself up for scaling to 7-figures, apply to book a call with me.
