Module 3: PROFIT Design a Business That Will Earn You Money

Module 3: PROFIT

Design a Business That Will Earn You Money

Welcome

Now that you have a Purpose and a Process, it’s time to turn that into Profit. In this module, you will learn about and create your own sales funnel and use it to organize your services into a cohesive, streamlined suite of offerings that makes it much easier for your clients to jump in and buy (and for you to make money). You’ll also define exactly what you’re selling – your packages (also known as programs). Designing and selling packages as part of your sales funnel, instead of offering one-off sessions, will make your work both more effective and lucrative, and it wil save you lots of time and energy.

In This Module You Will:

 Part 1: Design a Sales Funnel to Guide People on a Pathway to Purchase  Part 2: Create Impactful, Lucrative Packages Instead of One-Off Sessions  Bonus Training: Program Description Template for Your Website Sales Page

Instructions:

As with all of the modules, this is a first iteration. Do your best to map out your sales funnel and packages, knowing they will evolve and change as you offer them. The bonuses will be useful when you have created a program that you are ready to sell. Have fun with this!

Timing:

Allow at least three hours for this module.

1 Part 1: Design a Sales Funnel to Guide People on a Pathway to Purchase

What’s a Sales Funnel

Your sales funnel is the journey a potential client (or “lead” in marketing terms) takes from awareness about your service – through your marketing – to the actual purchase of it. And purchases lead to Profits, hence the name of this module.

Our job is to lower the risk of people taking that first step toward working with you. Make it easy for them to say yes to something small! The vast majority of people will not jump into your deep, immersive, expensive program if they don’t know you at all.

The concept of the sales funnel is known as “Pink Spoon Marketing” (coined by Andrea Lee). You know... the little taste of ice cream you get at the shop for free so that you can safely buy a scoop and KNOW that you’re going to like it? And before you know it, you’re signed up for ice cream flavor of the month club ;)

It’s the same in your business.

At the top of the funnel is an offer that is free or inexpensive and low-risk (imagine a free class, or a free downloadable guide) that makes it easy for your clients to take that first step and get to know you. Then you can progress on to other products, programs and services, as the potential clients feel more comfortable investing in the higher- value, higher-priced work with you.

Also notice in the diagram below that the funnel gets smaller (as funnels do) as you go toward the more expensive purchases. Not everyone moves down the funnel! That’s not the point. Many people will just stay on your email list forever and won’t buy. Don’t worry. The point is to generate enough leads and build your community large enough that you have enough people that will say yes and move through the funnel. The nature of the funnel shape is that there are way more people who come in as leads (and sign up for free things) than move down the funnel to actually purchase your big program. This is the way business works, even if you have excellent conversion rates (conversion rate refers to how many leads you turn into paying clients). Again, this is a totally normal part of business! You need way more leads than you do paying customers.

Notice that as a person travels down from the top of the funnel to the point, something happens: At the top of the funnel, the client doesn’t know who the heck you are. Throughout the funnel, they are getting to know, like and trust you. At the pointed end of the funnel, they absolutely adore you and would probably buy anything you put out there.

It’s good to start simple, but over time, your sales funnel can become more complex, with more steps in the journey, multiple ways to enter the funnel and/or multiple 2 program options within each level (that can map to each step of your unique Process). But when you’re first starting out, a free offer and one or two paid offers are sufficient.

About Email Lists

Remember, many people stay on email lists for years before deciding to purchase something (if ever). Think of your own behavior on email lists, and don’t get discouraged or be offended when someone drops off your list (because it will happen) or if most people never make a purchase. Building a business takes time, but if you are consistent about adding new people to your community and nourishing those connections with valuable content, over time, it will be easier and easier to fill that amazing group program you’ve been dreaming about offering.

All that said, you don’t necessarily need a huge email list. List size needs depend on your business model and your strategy. You need to generate enough leads to achieve your goals. This means you need more leads than you do actual clients (because they won’t all be the right fit!). But it doesn’t mean you need 10,000 people. If you are selling a low- priced product, for example, then building a larger list is more important. If you need 10 clients a year, you don’t.

Bottom line, email lists, even informal ones, are important to keep in touch with the people who enter your sales funnel. Whether there are 10 people or 10,000 people on it, this is how they will get to know you better and eventually buy from you.

Once you have your sales funnel laid out, it’s time to design the packages in your funnel, which we’ll get to in Part 2.

Sales Funnel Diagram

Example of Client Coming Through My Sales Funnel

A. Marketing: I post a free class I’m teaching on Facebook and LinkedIn (or I could do Facebook ads or some guest blog posts)

B. Lead Acquisition: A whole bunch of people see this ad, and a portion of them (with whom my marketing resonates) sign up for my free class. I collect the email addresses of everyone who signs up and teach the class.

3 C. Keep in Touch: After the class, I send out my newsletter, chock full of valuable content, with all these new folks on it (whether they showed up at the class or not!), and I advertise a beginner’s business course I’m offering.

D. First Purchase: A subset of people who went to the free class sign up for the beginners course, woo hoo!

E. Keep in Touch: The course ends, and these clients continue to receive my monthly newsletter, reminding them that I’m here to help and providing valuable free info through my newsletter, blog, etc.

F. Bigger Purchase: A few weeks after the course ends, someone who took the course emails me for a consultation for my one-on-one coaching package, and we decide to work together.

G. Referral/New Lead: Then (and this is the bonus), she tells her friend about me, and her friend (a new lead) signs up for my next class.

You can actually get away with even less: The entire first year of my business, all I did was focused referral-based marketing that led to free consults that led into a six-month coaching program. It totally worked.

Also, remember that every business is different. As a coach, a free phone consult is enough to get to know me. In the hands-on healing professions, people often want to receive a massage or other treatment before committing to a longer-term program. If you’re a chef, you might need to do a tasting.

Exercise:

What could your sales funnel look like? Draw it out here or copy the diagram from above and fill in your own words. Don’t worry yet if you don't know what your marketing strategies will be. Choose one or two you think you’d like to try.

Remember it can be super simple if you’re just starting out:

 Class  Free Consult  Big Package

 Referrals  Low-cost class  Big Package

 Yelp  Initial assessment and treatment  Big Package

 Webinar  Group program  Free Consult  Big Package

If you are an experienced business owner, make sure you don’t have TOO MANY offerings in your funnel. Really think about what offering naturally leads to the next one. Let go of offerings that are outside of your Purpose and Process.

4 If you have big visions for your business, feel free to make another more aspirational version of your Pathway. Each step could be part of your unique Process that you created in the last module.

Part 2: Create Impactful, Lucrative Packages Instead of One-Off Sessions

Now it’s time to create the actual offer, or package of services, you sell to a client to make a profit in your business.

A great package that people are excited to purchase will clearly help the client solve the problem they came to you for. A Package that Solves a Problem Makes a Profit.

For it to do that, it helps a great deal if it is based on a your unique Process that sets you apart from others in your field and walks people down a pathway to results step by step. And luckily, you developed this Process in the previous module. You can have one signature package that brings people through your entire Process, or you can have different packages that each offer a piece of your Process. It’s simplest to start with one signature package, get really good at it, and become known for it.

Now, what’s this whole thing about packages? Why not just offer one-off sessions?

There are so many reasons to package up your work versus selling sessions one by one or doing hourly work. The main ones are that your clients will get better results, and your life will be easier. And as you may have noticed, there are only so many hours in the day, so if you’d like to work less, and earn more, listen up.

The big shift that will be necessary for many of you will be to start orienting away from a dollars per hour or dollars per session mentality and towards charging for the value of the intended results you provide for your clients.

Should I only have packages? Can I do any one-off sessions?

Many people ask if they can have packages and do one-off sessions. Look, every business, and every industry is different. But don’t let “that’s just how it’s done in my industry” be your excuse for not trying this. Even if everyone else does by session, you can create something different.

If you start with one package, my guess is that over time, you will want to transition all your work to packages. And yes, that could take some time. And, as a healer, for example, you might need to offer an initial “one-off” session in order for people to 5 experience you hands-on. But the trick is that after that session, there is an obvious bridge into doing the deeper work with you, in the form of a package.

And as you’ll see below, there are many types of packages. You can actually “package- ize” a one-of session into something of far greater value and cost.

14 Reasons to Create Packages:

I know it can be edgy to move from the traditional dollars/hour model into packages. But it’s so much better, and here are some reasons why.

1. You will get more and better results for your clients. As you know, real change takes time. One session just doesn't cut it! Imagine having six months to work your magic. You think you would feel more confident about getting results for people? Programs allow you to relax into your craft. You don’t need to worry that each session be a total revolution for your client. Less proving yourself, and more genuine work getting done.

2. You will earn more money. This is because you can add value to the program that costs you little to no time (see next section) and charge more for your overall service, and rightly so. Example: The bonus guides I give you are valuable, but once I make them (which has an upfront time cost), I can simply offer them to my clients as added value, and they don’t cost me anything additional. It is also way easier to earn money quickly selling a package than it is trying to get people into a group program. If you want to earn money quickly, develop a rocking signature package.

3. Your ideal clients will want it. For the right people, your package will be a dream come true because it will help them achieve what they want, not just give them an hour of your time. It will have so much more value than just buying a session or an hour with you.

4. You’ll do less marketing and sales. If you were doing one-off sessions, you would need to book hundreds of them per year. Because you need fewer clients with the package model, this means less marketing and sales, which means more time for other things… whether that’s developing the channels to further grow your business, or more time for your family. Imagine the time that gets freed up when you only need a few new clients to come in each month instead of having to market and do 80-100 sessions.

6 5. Your free consultation (sales) calls will be so much easier. When you have a signature package that is based on your Process, you can easily name the steps you will walk people through to help them achieve the intended results. I can’t tell you how much more natural it is to do a sales call when you know your process and how your package will guide your client through it. You’ll be more confident, and so will they.

6. You won’t need to invent a new proposal or program for each potential client. If you’re a consultant in particular, you probably have had the experience of spending hours on proposals for different clients. Packages allow you to plug and play. Of course you still may tweak or customize a program, but the more that is set in place to begin with (and communicated to the client) the less writing and re-writing you will do. The difference between a freelancer and an empowered business owner is that the business owner tells the potential client what is offered, and the freelancer molds herself to do whatever the clients desires (which is totally exhausting if you ask me).

7. You won’t have to work more and more hours to grow your business. If you get paid hourly, you will quickly max out your hours available to work, since there’s only one of you. Simple math. Unless you charge a lot per hour and start hiring less expensive people to work under you. Which is an option. But I’d still recommend programs even in this situation because there are so many other reasons they are great.

8. You don’t need a huge email list to do this! Enough said.

9. You get to package up your magic. This is your opportunity to combine all those different skills, interests, and gifts you have into an inimitable program that brings your whole self to bear, and weaves together your offerings into a cohesive contribution that is uniquely yours to offer. That’s why we’re in business for ourselves, right? There are limits to this of course because your package has to fit your niche not be all over the place. Not everything about you will fit into your package.

10. People equate quality with money (for better or worse). Just think of your own spending habits. There are certain things we’re ok having the cheap version of, but there are certain things we don’t. Being the cheapest healer or consultant does not usually scream “quality.” Increasing your prices can actually help your

7 reputation.

11. You eliminate “competition” by being focused and become known as an expert. Along the same lines, when you’re offering something specific and unique to a particular group of people (in other words, you have a clear niche for your package), you don’t have to play the game of lowering your prices to compete with others who are offering more general services in your industry… You’re doing something different, unique, specific, and high-value, and the people who want that will pay for it. Over time, you will become known for it, interest in your work will increase, and you can raise your prices.

12. You can use a package to experiment with your niche. You don’t need to target your entire business at this audience. This can be a sub-niche or an experiment niche… in other words, a program can be a great place to test out “niching down” to a smaller audience without taking your entire business there at once.

13. You can test out your future group program. Too often, business owners dive into group programs before they are clear on the process they are taking people through (and before they have enough people in their tribe to fill a program). Having a signature package let’s you test your model on many clients, see the similarities and differences between them and build a group program that will actually work for people. It will also help you hone your Process even more.

14. You’ll get the best, most committed clients. These are people who really want to change, who really want results. They will work hard to make things happen… they’ve just made a sizable time and financial commitment after all. When your clients commit like this, you can also step in and more fully offer your gifts. This way you will really start seeing the results you have the potential to create. Trust me, I’ve had half-assed, uncommitted clients that didn’t pay me a lot, and we didn’t get much done. Accountability is huge for people who want to get things done!

A Word on Availability and Boundaries

There is a risk of “over-delivering” with programs. Make sure you balance the kinds of value you are providing between value that requires your time and value that doesn’t (see how-to section). You don’t need to provide people with every single thing you have or overwork yourself or spend crazy amounts of time with a person. This will get overwhelming for both your clients and for you very quickly, and your packages will then turn into more work, not less.

8 At the same time… The package model can enable you to be there for your clients on a more ongoing, on-call basis for your clients, because you are being paid more to be there (which generally has you feeling more generous with your time as opposed to resenting clients that are needy). You can still put boundaries on this and you should, but you might consider where you can be flexible that is easy for you and feels supportive for them. For example, I’m available by email and to review and edit documents in between sessions. My clients aren’t afraid to end a session early if we’ve completed our work for that session because they know I’m there when they need me and I’m not counting minutes. (That said, I don’t answer on weekends & evenings).

Different Kinds of Packages

There are many ways to do this, and a different type of program might work better for your business than another. In addition, for some people, the program will be their sole (soul?!) offering, and for some, it might just be a portion of their work (at least to start… once you start doing them, you’ll probably want to package-ize everything that you can).

In general, aim to create packages that build on each other using your Process. You may have one program for the entire journey, or, you may have a different package for each leg of the journey, one leading to the next. For example, you could create a beginner’s one-month package that leads into a one-on-one six-month package. It would not be necessary for someone to do the six-month package, but if they wanted to continue, there would be something there for them to step into that makes sense. After that, you could have a more intensive, next level package, or you could have a smaller maintenance program, depending on your work and what’s needed.

Group Packages or Programs

Whether or not you do group programs in large part depends on the stage of business you are in. It is SO much easier to earn money quickly working with people one-on-one that can start your package anytime. If you need 10 or more people to start something at the same time, you need to be sure your tribe, or network, is big enough to support that. That said, if you are ready to create a group package (often called a program), then you can use this very same model. Examples of packages for 1-1 work and what they might contain:

 90-minute Session, or Half-Day or Full-Day Immersion Package

o Intake questionnaire for them that you review and opportunity for them to send you relevant materials/info in advance for you to review

o The session itself (focused on one particular issue they are working on)

9 o Short follow-up session a week later to answer follow-up questions and talk about next steps (you get to talk to them about the next package during this call if appropriate)

o Your availability via email to answer questions between the two sessions

o Any free trainings, guides, or templates you can offer to support this process

 6-Week 1-1 Start-up Package (great place to start for your first program!)

o Extended intake/discovery session

o 5 additional weekly 1-1 sessions

o Personalized plan for success in program topic (diet, practices, etc)

o Three teaching modules on program topic

o Facebook group with all your clients

o Free product that supports their practice

 3-12 Month 1-1 Signature Package

o Extended intake/discovery session

o Two monthly individual calls

o Once monthly group calls with all your clients

o Access to your library of courses, guides, templates, or other resources

o Email access between sessions

o Extended final session to reflect on results and next steps

o Free session with relevant colleague

 3 Month Group Program

o Retreat to kick off the program

o Monthly two-hour group workshops

o Monthly one-hour Q and A calls

10 o 6 1-1 sessions anytime

o Access to existing online courses

o Email access between sessions

o 10 templates and how-to guides

o Recordings from previous classes taught

o Final reflection virtual daylong program

o Optional buddy system

o Free session with relevant colleague

A Note on Program Length

The length of your program truly depends on what you feel is needed to achieve the results desired, at a minimum. You also need to be realistic about what people will commit to. If you feel you need two years, you’ll need to reduce the amount of results you want people to accomplish, because that is a long time for people to commit. Consider designing a shorter program.

On the other hand, I tried a three-month program at first, and now I do a six-month program, which feels like the bare minimum for my clients to achieve the kind of internal shifts and outward results I want to see for them and their businesses. I am starting a yearlong program next year, but only after coming to the conclusion through experience that the results get even better after six months!

How to Educate Your Clients About This Model

You might say… People in my industry doesn’t do this! I can’t possibly. Yes you can! You just need to try it, and then educate your potential clients about WHY it’s so awesome, because they might not be accustomed to working like this. Here are some ways you can talk about it. Of course, do a few discounted beta version packages first, so you can speak from your own experience!

 I don’t do this like other consultants/healers/therapists, and I don't/no longer think hourly work is particularly effective. You would get something out of one session with me, for sure, but for the kind of transformation/results we both desire, we need more time and that requires a commitment.

11  When you dive in with both feet, and I dive in with both feet, transformation will happen. This commitment gives us both the opportunity to fully engage in the process.

 I have seen it both ways, and more results come when people commit to a long- term process, instead of always debating about whether to continue (don't say this until you’ve actually done it and it’s true for you!!). Sometimes our work will get hard and you might want to quit, or you’ll get super busy and this project that is so important to you now will fall by the wayside. But if we’ve made a commitment to your healing/results/etc, then we have an opportunity to stick with it and actually do it. It provides accountability.

Exercise: How to Design Your Package Step by Step

Remember, you can use this model to design both a one-on-one package and a group package or program. Fill in the blanks for your package here.

1) Decide on the intended result you want to help someone achieve or the problem you will help them solve with your package

2) Decide on a period of time you want to work with the client (at least the minimum time you feel you can get good results with someone)

3) Decide what types and how many sessions and other services you will offer during that time (based on what works for you and what works for your clients)

4) Pack it with additional value* (see below)

5) Put ONE price on the whole thing and name it something fun

6) The client commits to the entire program and pays in full or with a payment plan, often with a financial incentive to pay in full

If you need ideas for number 4, keep reading!

*How to Pimp Out Your Program

12 First... if you are just starting out, please don’t be intimidated by this section. You will have more “extras” to offer over time. For now, start simple.

For those of you with a longtime business, there are going to be extras you can add to your package that you never even thought of that already exist and will require very little extra effort to include. Sometimes it’s stuff you already include, but you just haven’t named it yet in your marketing and sales as something valuable!!

Second, the basic foundation of your business has to be your good work. Your best business move is to help people get the results they desire (and then make sure they tell their friends).

So this is not an exercise in adding bonuses just so people will pay you lots more money.

However, there are things that you can add to your program that will truly increase the value of your program that you might not have thought of and that can take you very little effort.

They can make your program more fun, more successful, and more impactful.

And you’ll be able to charge more and earn more money.

So you’ve figured out the basics of how many classes or sessions you’re doing with a client over a particular period of time.

Let’s say there’s an extended discovery session, and three sessions a month for six months, and you’re available by email in between sessions.

What else can you add to your program that will make your work even more impactful? What else might your clients need help with that would be so awesome if you could offer it?

1. Adding Active Value (Stuff That Takes Time and Energy from You)

These are additions that might take you more time and effort to deliver, but will make the healing/transformation/results more likely to happen, and you LOVE doing these things (these are often highly related to your gifts and interests! I started including guided walks in nature as part of my offerings, for example).

Oftentimes, you are already DOING some of this stuff, you just haven’t pulled it out and named it as valuable in your marketing and sales. Everything you do with people brings value and should be pointed out to your potential customers so they can really get how much you offer.

Here are some ideas, some are quick and easy, some are more in-depth:

 Short pre-planning session to develop focus (this is great with a daylong program to co-create the agenda for the day based on their greatest needs). 13  Follow-up session a few days later to check on results, needs and progress (this is also great with a daylong, but important for all programs and great for getting people excited about the next phase of work with you).

 Personalized… whatever! For example, a personalized health or diet plan or to- do list/action plan. This does not take a lot of time if you have a template for it that you adjust for different clients.

 Email access to you between sessions. Some clients will take advantage of this, many won’t. If you find people take TOO much advantage of it, you can put boundaries around it.

 Quick phone check-ins between sessions for support. Same as above.

 A longer intake session that takes a deeper dive into the person and their needs.

 A longer closing or transition session that involves some sort of reflection, ceremony, completion.

 A group call or program. Pull your clients together once a month for a Q and A or teach them something.

 Or, if it’s a group program, offer a one-on-one session.

 Intuitive readings, enneagram assessment, whatever else you have a skill at that you want to add in that will add value or results.

 Written reports/summaries after sessions, or progress reports.

 Done-for-you services like resume re-writes, website evaluations, or copy writing.

 A physical gift, supplement, or product that supports their journey.

 Visioning or goal-setting sessions OR documents they fill out on their own and then review with you (or you give feedback via email).

 Snacks. Chocolate. Wine. During meetings. Extra awesome customer care.

2. Adding Passive Value (Stuff That Doesn’t Take Time and Energy from You, Except Maybe When You First Create It)

What more can you offer without more effort on your part? These are things that don’t cost you any extra time, but add huge value for your clients. Here are some examples:

 Access to all public classes you will teach anyway.

14  Your books or guides you’ve already written.

 Videos or recordings of trainings you’ve done for other clients/classes.

 Templates, guides, and other resources you have created.

 Recommendation and resource lists (this could also be personalized).

 Access to a community of your other clients via Facebook or email.

 Access to your network of other kinds of providers, and/or your “preferred vendor” list.

 Partner with another practitioner for a one-off freebie… they do a free consult for your clients, or they offer a full session, and you pay them a discounted rate to do it for all your clients or trade them your time. This helps you both get more clients too!

 Assessments of all sorts from the Strengthsfinder to a constitutional analysis to a website to a questionnaire you’ve created. People love assessments!

 Daily/weekly email tips, inquiries, reminders, etc that are automated and sent to all clients (you’ll need to create these once, but can then automate).

 Intake questionnaires, or forms they fill out to give you background and set intentions for your first meeting together (super helpful for you too and invests them more fully).

 Pre-session questionnaire… a form that clients get emailed automatically before each session to reflect on their progress from the last session or time after and clarify goals for the next or needs for the upcoming session. This is also very helpful for you to gauge their progress.

 A beautiful or unique setting for live sessions/meetings/events… can you make it luxurious? Do it all outdoors?