The Missing Ingredient That Makes The Magic Money Tracking Sheet Work Like Gang Buster

Last year I took the “10 Clients in 30 Days” program with Carey and Stacey. One of the tools that I got introduced to was called the “Magic Money Tracking Sheet”. The idea behind it pretty much sums up as “where the attention goes, the energy flows” – by recording all the money that is coming into my pocket, the flow of money is encouraged.

Back then I was starting my full-time health coaching practice, and offering the “standard” six-month program format as the only type of service. Obviously, it’s not easy to have money coming in frequently if you are starting out and looking for clients to put down $1000+ with you on a long-term program, without previously experiencing your work except a 30-minute discovery session. Looking at a blank tracking sheet for weeks in a row was very discouraging, and having my sanity hinging on each discovery session that I have with potential client was simply not a good or sustainable way to run a business.

Then I changed something, and the dynamic changed – now I am putting numbers onto my money tracking sheet almost everyday, even during weekends or when I was down with a cold.

The one tweak I made? I added information products to my business model.

A healthy and balanced business model should have products at most (if not all) price points to catch your customers at various levels that they are comfortable with investing in your services. You are probably not going to retire selling entry-level price point products, but don’t discount them! They bridge the gap between your free offers and your higher ticket price programs. They give those who want to find out more about you a chance to get more involved with your work.

More importantly, you are training your prospects to open their wallet for your products and services! Research found that people who have spent with you are 40% more likely to buy from you again. You have to give them a way to enter your world without too much risk that they would hesitate and back down.

Having information products can increase the perceived value of your coaching programs that give your clients access to you – either private or in groups – even if you don’t change a thing on those programs. And by the way, you take yourself out of the “trading hours for money” business model.

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Before you start creating an information product, you need to make sure that you are creating something that your target market will buy, and you need to position and market them so that they will serve their purpose within your business model.

Ready for more? Want to jump right in and start rolling in the dough? Check out the Complete And Concise Guide to Creating, Positioning, and Marketing Profitable Information Products.

Not sure what to write about? Browse our Done-For-You content and see what you can use as a starting point!

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Comments

  1. This was super great advice! Thank you!

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