How To Reverse Engineer Your Fastest Path To Cash

Product launch, preview calls, webinars, teleseminar, social media, workshops, group programs, private coaching… aaaaah!!! What to do first and how to MAKE IT HAPPEN so you can generate revenue from your hard work as quickly as possible?

Let me help you cut the overwhelm and confusion once and for all. Here is the same process I take my private coaching clients through (ok, my clients also get my fairy dust) to figure out what to do first, second and third to map out their fastest path to cash and the steps to make it happen.

1. What YOU Want To Do

Every one and her aunt Betty has an opinion on what you “should” be offering.  One guru says teleseminar is “still” where the money is, while the other says in-person 3-day live event is all the rage… and there is of course home-study programs, one-off workshops, webinars… etc. (and don’t get me going on those “3 steps to get rich quick on social media” things)

Any one of these formats, if done well, can make you a lot of money. Note the keyword is “DONE WELL” – and you can’t do anything well if the format doesn’t tap into your brilliance. It has to be something you LOVE to do, and a format that works for your ideal clients. And if you are spread too thin, you will get half-ass results.

Put away the “shoulds” for a moment, and write down 3-5 formats that you really want to serve your clients through – is that information products? Group coaching programs? Workshops? A multi-day event? Private high-end coaching program?

I don’t believe there is a “superior” format of delivering your brilliance. Don’t feel bad, or “not good enough”, if a “fancy” format seems too daunting for you now. Of course you want to stretch yourself a bit, but if you are completely paralyzed (e.g. by technology) – it’s not worth it.

2. Reverse Engineer the Path To Revenue

Now take each format you have written down through these steps:

  1. Start with the end goal – e.g. 10 people to sign up for a group coaching program.
  2. Look at where you are at currently. Ask what do I need to do to get 10 people into a group program? Let’s say the conversion rate of your email marketing campaign is 2% on average, and if you hold a workshop, you can get 10% of the people to sign up for a program. To get 10 participants, you will need to send out at least 250 emails (that is, having a list size of at least 250 of your ideal clients – that excludes friends, family and your cat if they are not in your niche), plus getting 50 people into a workshop presentation. If you do solely email marketing to promote this program, you will need a list of at least 500.
  3. Find the gap. To simplify this example, let’s say you are only promoting through emails. Assume you currently have 150 quality leads on your list. You will need to add 450+ people before you want to launch your program – otherwise, your efforts are probably not going to pay off. Simple math. Of course, you will also need to design your program, create a sales page and plan a launch sequence.
  4. Determine what the big strategy is to fill the gap. What do you need to do before you even write a single word of your program? Grow Your List!! From now until you reach 500+ subscribers, your focus should be on growing your list to hit the goal of getting 10 people into your group program. Meanwhile, since a list is not built in one day, you can start putting the pieces together for your program and launch plan.
  5. Map out focused and specific tactics to support the strategy. To allow you to quickly build your list and set your peeps up to buy from you, what do you need to do? Add more subscribers to your listnurture the relationship with your current subscribers? What do you need to implement? Create and promote a free gift? Convert your social media followers into subscribers? Find guest blogging opportunities and direct readers to your free gift? Limit yourself to 5 impactful tactics so you can actually focus on each one and do it well.
  6. Trim the Fat. Any other “stuff” that “people” tell you to do, but does not show up in step 5, are “nice to have” but probably not mission critical right now for your goal.

3. Identify the Low Hanging Fruits

Now you have written out what needs to happen for the successful launch of each of the formats you want to deliver your service through, let’s find the fastest and quickly path to seeing results.

Next to each step, estimate the time you will need to accomplish the task. Add up the time needed for all the steps, and you can see how far away you are from “making it happen” for that particular thing that you want to do.

Now you have it – the one that takes the fewest steps and the shortest time is your winner! Do the work, and chances are, your list, your materials and your momentum will build on your success (even if it may seem like the smallest win among your list), making the implementation of other more elaborate projects faster and easier.

 

Blending clarity and big picture with smart strategies and practical tactics into a results-oriented plan is what I do in my Business Soulwork + Marketing Activation Coaching Programs. If you are ready to have me rock your world, let’s chat – doesn’t cost you a dime to see if we are a good fit, and you will probably walk away with an AHA moment or two, or three.

Like this article? Don’t miss a beat!

Enter your information below to get awesome tips, updates and special perks from us - at polite intervals.

Plus, when you sign up, you will also get our "Success Tool Kit"!

* indicates required

What do you think?

* indicates required Best Email * First Name *