I Do Everything In My $3.5M Coaching Business

0:00[laughter] >> Hi Alex. My name is Rebecca Adeyeye. I sell business coaching to female founders. We've done about 3 and 1/2 mil in revenue. Last year was about 1.1, 1.2-ish. 85% profit margin. Um I would like to be at 10 mil. My problem is that I do everything.

0:25>> Mhm. >> So, I I sell, I close, I deliver, all the things. >> Yeah. >> And at the moment, and I guess my question is how do I transition in terms of perhaps bring someone else in to deliver? >> Mhm. >> Um my model for proximity at the moment, it's like 42K for 12 months um in a group capacity, and I also deliver one-on-one. So, I'm like, is there a gap in my model where I should do something more low ticket?

0:52>> I'd take out the one-on-one. >> You take out the one-on-one, yeah? >> Yeah, I'd just keep it group. >> Mhm. >> That'll I mean, if you just eliminated the one-on-one constraint, how much more could you sell? >> Triple. >> Okay. So, that would take you from what, from three to nine? >> Yes, but the proximity, like I I feel like they buy proximity.

1:16>> So, I like changing medium more than ratio. >> Okay. >> So, I'd rather have people in person. >> Yeah. >> Because that proximity has a different feel than >> Right. So, I would just like you can still keep the the the ratio what you want it to be. Just include more physical proximity rather than ratio proximity. Because at the end of the day, the people who you're you're helping out, they have similar problems. >> Mhm.

1:42>> Did anyone here get value from any of the other conversations I just went through? Yes. So, like, you're not doing them any favors by doing it one-on-one. You get more from hearing everyone else's stuff because you also hear somebody who's right ahead of you, somebody who's below you but figured out a little tactic that you didn't think about that you can apply your business. >> Mhm. And so like I genuinely I'm a big believer in this. This is why in fitness I was always a big fan of semi-privates. It was the best model. Because one-on-one also is going to be difficult for you to have other people replace anyways cuz they're going to be loyal to the coach not you and most of the time they're going to hate the coach and they'll just leave.

2:11>> Yeah. >> Right? And so it's better to have This is the easiest analogy I have. So imagine you have the world's best milk and assume that you're lactose tolerant. Okay? The world's best milk best class of milk in the world. All right? This is the world's best class of milk. So we have two options if we only have this much milk and there's a lot of people want it. So option one is that I can create more bottles or glasses like this and I put little droplets in them and then I fill it up with water. All right? So it's got little diluted milk. On the other hand I can create little shot glasses of milk.

2:36That's the world's best milk but you only get a shot glass. Which would you rather have? >> I'll have a shot. >> Shot glass, right? And so the goal is just make that milk so [ __ ] good that people still want the shot glass. >> Okay. >> And so you just need to continue getting better so that even fractionalized access to you is still worth it. >> Yes. >> And that to me is how you'll be able to scale to where you're trying to go without creating a lot of operational drag >> Mhm. >> in the business. So I think you shift the delivery ratio um and you'll probably take care of a lot. Add a couple in-person components to it so that you can anchor on a little bit more value and you'll probably take care of the issue. That being said you have an 80% 85% margin and basically everything that's on your plate right now you're doing everything because you're choosing to keep 85% margins.

3:14>> Yeah. >> And so we need to pay for a little bit of help. The margin's going to compress a little bit but the whole point of business is that okay I'm going to pay 100 grand or 200 grand to get some help and then I'm going to take my margin down 200 grand and then with that extra time maybe it buys half your time back you'll be able to double the top line. >> And where do you think I should be investing that money? >> Here. Uh >> [laughter] >> Um >> Take my card. >> Um

3:40>> Smooth. >> [laughter] >> No. Um >> You're not joking. >> What's that? >> I said I don't think you're joking but I love it. Yeah. >> No, I'm not joking. But um where would I be? I believe in what we do. Um What's the what is what's the thing that's taking you the most time that's making you the least money? >> I shop on Instagram. I create content. >> That's making you money. >> I I sell in DMs. Yeah.

4:05>> Okay, DM setting somebody else can handle. What else? >> That's basically it. I I deliver, I create content, I I sell in I close in DMs. >> Okay. So, the DM closing is is easier to teach cuz it's literally text. Somebody else can do that. Um So, that's thing one. And shifting the service delivery ratio will probably buy back a lot of the back end time. >> I feel like they do small I know I'm not special. >> Mhm. >> But I feel like they do small

4:33>> [laughter] >> But no, but they they you know, their language is like, I just want to make sure I do you. How many people in the group? Because I'm not interested if I'm going to be around a lot of people. >> Yeah. >> So, they want the proximity because and I'm like, well >> Well, how big is the group? >> So, it can range from like 15 to 30 people. >> Okay. So, I mean, I take the position of what I said earlier. I mean, you could cap the group at 10 or 15 or whatever and then just have more sessions at 15 X's your income.

5:03>> And I'll just do the same, but I just create another group at the same price point. >> Yeah. You know what I'm saying though? >> Yeah, yeah, yeah, yeah. Okay, yeah, I could easily do >> One on one becomes one on 10. Keep the price the same. >> So, I like I get rid of the one-on-ones. I add another proximity style group. >> Mhm. And then add one or two in-person components, which I think will really drive it. >> Mhm. >> I think you'll be good to go. >> I like that. >> Great. >> Thank you. >> You bet. >> Thanks so much. >> If you like this video and you're a business owner who wants to break through your current revenue ceiling, I just took every lesson from scaling 10 businesses past 10 million and three businesses past 100 million into a completely free scaling road map that I've used to go from zero to one, zero to 10, and zero to 100 plus. And so, you can click here and you can check it out.

5:43Again, absolutely free. And since you're a business owner, I appreciate you and enjoy.