Why you should read this and implement it. (I run both a consultancy/advisory business and a coaching business. This is what I DO, don't just TEACH it.)
We've specialized in building high-ticket businesses for coaches, consultants, creators, and professional service providers, so that’s the approach we’re going to use. There are a million ways to make a million dollars online, but high-ticket coaching is probably the fastest and the most rewarding.
There are really only 2 requirements to use this strategy:
You must have the skill to solve a major life or business problem for your clients.
You need to be passionate about creating real results.
That’s it. If both of those things sound like you, let’s dive in.
High-ticket is about solving major life or business challenges. All you have to do is pick one. Look at your expertise. Look at the problems and challenges you’ve overcome in your life. Choose ONE big problem to start.
Most offers sit in one of 4 big niches: health, wealth, relationships, and personal development. Health would be fitness, weight loss, overcoming certain conditions like autoimmune, etc. Wealth is helping people make more money, in their business, career, or otherwise. Relationships would be dating, relationship coaching, parenting, etc. And personal development would be things like overcoming burnout, growing spiritually, etc.
Be sure the problem you choose is high-stakes, meaning people have a LOT to lose if they don’t fix this. Solving this problem can’t be a “nice to have,” it needs to be something that they MUST fix, or they will suffer greatly.
Once you’ve chosen your problem, ask: who is struggling with this problem the MOST? In other words, what segment of the market has the most to lose if they don’t fix this problem?
For example, let’s say you help people save their relationships. Whom should you target? High Schoolers going through their first break up, or married professionals? Married professionals have far more to lose if their marriage ends in divorce, so that would be a better target market.
Just remember this: high-ticket means high-stakes. The higher the stakes and the bigger the consequences if they don’t fix this, the more you can charge.
Think of your offer in terms of The Hell, and The Heaven. The Hell is where they are now - suffering under this problem every single day. The Heaven is where they need you to take them - the place where the problem is solved, once and for all.
Sit down, close your eyes, and imagine as vividly as you can, what their day-to-day experience of The Hell is like:
What is their day like? What’s it like to wake up and lose sleep over this problem? How is this problem affecting every area of their life? Their health? Their confidence? Their family? Their finances?
What happens in 6-12 months if they don’t fix this? In 5 years? In 10?
Don’t answer these intellectually. Really GO THERE in your imagination. Then do the same for The Heaven:
How will their day-to-day experience change once this is solved? How amazing is their life going to be?
What’s the benefit to their confidence, family, finances, and health?
How awesome is their life in 6-12 months once this is fixed? In 5 years? In 10?
The key is to imagine these scenarios in as much detail as you can. Engage your emotions. Get messy. Raise the stakes. And don’t just do this once - spend time every day thinking about this, over and over.
Next, chart a path from The Hell, to The Heaven:
What are the major logical steps or Milestones on the journey? For example, take a dating offer, where the Hell is that they’re single and lonely and the Heaven is they’ve found the love of their life. Perhaps the first step is just getting clear on who their ideal partner is? Maybe the second step is creating the perfect Tinder profile, etc.
What else have they done to try and fix it? Why are those other solutions hopelessly broken and could never work in a million years? How does your solution avoid making those mistakes? Write down every alternative solution you can think of, and why those suck.
What are all of the obstacles (real or imagined) that stand between your client and getting to The Heaven? How can you solve each and every one? For example, they don’t have time, they don’t want to give up carbs, etc.
Take your time. Really think these things through. The more detail you use when answering these questions, the better your offer and your marketing are going to be.
I’m giving you permission to spend 3 days thinking about this. But ONLY three.
I don’t want you to spend 6 months making your program “perfect” and then never sell it. Just get version 1.0 outlined.
The best way to perfect your program is to have paying clients go through it.Then you can see what makes sense, what doesn’t, where they get stuck, and you can make improvements accordingly.
One effective way to do this is to have each Milestone on the path become one week of your 8-12 week coaching program. Week One covers the first Milestone. Week Two covers the second, and so on.
Each week, you’re going to give them:
One live training on Zoom that teaches them what they need to know to execute that step and reach that milestone. Think in terms of STRATEGY (what they need to do) and MINDSET (how their thinking needs to change).
One Zoom Group Q&A call. This can be a separate call, or you can just do Q&A for an hour or so after the training call.
Access to a clients-only Facebook Group so your clients can network and get to know each other. Ultimately, you want a culture of celebration - people should be constantly celebrating their wins.
Access to you to send you questions between Q&A calls. You can use Voxer, email, or a help desk system like Zendesk (which is what I recommend). Shoot for a 24-hour response time or quicker.
This is the bare minimum structure of a high-ticket workshop. Start with this. You can always add more along the way.
Your price should not be based on how much time it takes to deliver your program. It should not be based on what your competitors are charging. It should be based on one question, and one question alone:
What is it worth to make this problem go away?
If you’ve chosen a high-stakes problem, the answer is that it’s PRICELESS. You can’t put a price on saving someone’s marriage. Or helping them drop 80 pounds and add 15 years to their life.
Because those things are priceless, I believe that pricing your program at $5,000 - $10,000 is a no-brainer. For most people, you should start with $5k and work your way up from there.
Your price rises to the level of your certainty. If you’re absolutely certain your program is worth more than $10,000, you’ll have no problem getting people to take that price seriously. On the other hand, if that price fills you with doubt, your audience will subconsciously pick up on that doubt, and you’ll get price resistance more often.
Ultimately, you want to have a funnel that turns cold traffic into clients. This is essential if you want to scale, and if you want consistent enrollments AND it's what we do for clients every day.
We typically have 3 Facebook/Instagram Ads targeting the ideal prospects for their offer and then leading those prospects to an appointment funnel that further qualifies them before getting them on a call. We get about 100-150 qualified calls with an ad spend of about $100/day.
But for the sake of this article right now, we’re going to start enrolling clients in the easiest possible place - your warm network. Make 2 lists:
Write down everyone you know who has this problem (past clients, friends, etc).
Write down everyone you know who KNOWS someone who has this problem, and could potentially refer them to you.
Message everyone on both lists and ask if you can jump on the phone with them for 15-20 minutes because you need their advice. Get them onto a quick call and say something like:
“I’ve created a coaching program to fix _______. I’m going to start promoting it to the public in a month or so, but since you’re someone who could potentially use this, I was wondering if you could give me some feedback on where I’m going with the marketing and the program?”
Then quickly run them through your curriculum for the 8-12 weeks and everything that’s included. Show them every step of the program and take notes on their feedback. Then ask:
“There are 3 big pain points I’m seeing…” Share 3 of the biggest pain points your audience has, and then ask: “Do any of those resonate with you?”
Then let them talk about their experience with those pain points. Take great notes - all of this will be valuable for your marketing later on.
Then ask, “Is there anything I’ve missed, or haven’t thought of?” They’ll tell you more about any additional challenges / concerns they have. Write all of this down so you can integrate it into your program later.
Then, “Okay great - the last thing I want to get your take on is the investment. When I go live with this in August, I’m planning on charging $5,000. Based on what you know, do you think that’s a fair investment?” Explore their objections around the $5k investment.
When you do this right, some of the people you’re speaking to will be really positive and express a lot of interest in your program. They may say things like, “Dang, I wish I had $5k because I would totally do this program,” or “This sounds like exactly what I need…”
If they express interest, invite them to be a part of your Pilot Program that’s launching next week: “The other thing I’m doing is that I’m launching a Pilot Program.
It starts next Wednesday. I’m limiting it to 10 people. And since this is a new workshop, I’m cutting the investment in half, so it’s just $2500 for these 10 people because I really want their feedback so I can upgrade the program as they go through it. And then of course, when you get the result, I would love to use you as a case study as well. Is that something you’d be interested in?”
If they did NOT express strong interest, ask for the referral instead: “Do you know anyone who would be a good fit for that?”
NOTE: This is NOT the way you should do your enrollments when you're speaking to a cold audience. But for people you know, this is a simple and easy way to do it.
Take their enrollment right over the phone. Don’t send invoices or anything like that.
Take the payment right away. If you need to do some kind of payment plan, I would recommend 2 payments maximum.
If you work your way through both lists (unless those lists are really short) you should be able to find 10 people to fill out your Pilot Program. At $2500 per person, that’s $25,000. Congratulations!
Now, at this point, your program does not exist yet. You have your modules outlined and ready to go, but you have not created the videos and training yet. Great.
This is what you want. You want to get paid to create your program. Do a LIVE training for your new clients every week, on Zoom. In the first week, walk them through the first Milestone. Week 2, walk them through the second Milestone, etc.
This is by far the best way to create a program, for a few reasons. First, you get paid to create it. You enroll people into the program before it even exists. Second, because you have to choose a start date, it destroys procrastination. If your program is starting in 7 days, you have 7 days to prepare Week One. Then you have another 7 days to prepare Week Two.
Once you’ve delivered all 8-12 weeks live, you can use the recordings and make your program evergreen. As people enroll, give them immediate access to the recordings for Week One. Then Week Two seven days later, and so on. Make sense?
Take the money you make from this and use it to hire a mentor who can help you make this scalable. If you can hire a mentor BEFORE you undertake this process, even better.
This is a really simple strategy, but the devil is in the details. There are a million ways to screw this up, so I strongly suggest you work with someone who has a proven track record of success.
And ultimately, you want to have a funnel that turns cold traffic into new clients at $5,000 - $10,000 prices or more. If you don’t have that, you’re building your business on sand.
To make any of this a reality, you must hire someone to help you. If you want our help rolling out your first high-ticket business, get in touch!