Hello, everyone. Tracie here, your resident business, rebel, and your listening to digital Hello, everyone. Tracie here, your resident business, rebel, and your listening to Digital Business Your Way podcast. The show that lets true stories and insider secrets of online entrepreneur life unfold. Our business world is growing and as an online business coach and digital product creator, I believe you didn't become an entrepreneur to grin and bear your way through business. So I'll be your guide. As we drop in on coaching calls, have intimate sit downs with online personalities. You love. And discuss ideas, opportunities and strategies circulating our online world. So pop in your earbuds, tap, follow, and join me as I demystify. This thing called business. Hello. Hello. Welcome back to digital business. You're away. I'm Tracie, your resident business rebel. And today we're diving into a coaching conversation that might just shift the way you think about growing your business. This one's for all my coaches, service providers, course creators. All of you who offer high touch programs, whether that's a one on one coaching group membership, hybrid, right? If you've ever felt stuck between wanting more revenue, but not necessarily wanting to scale that offer. Well, that's what we're going to talk about. All right, so let, let's get into it. Cause one of the biggest struggles I coach people on is. Is business owners putting pressure on one specific offer to solve all their revenue woes. You have a coaching program, a mastermind membership, et cetera, et cetera. And it's working. People are getting results. You're enjoying it. But not quite at the revenue level that you want. So you think, um, I just need more people in here. But what if the tension you're feeling isn't actually about growth? What if it's about misplacing your revenue needs? because that's exactly what came up, not just once, but twice this week, twice, two different people, two completely different coaching conversations, two completely different containers. And I thought, all right, we are going to hit record. We're going to talk about this because it's, it must be something that Floating out there in the ether. These are two wonderful people that get great results, but they are very different businesses and, people that are at very different levels, like experience levels and revenue levels. And it's the exact same situation. So let's, let's bring it out for everybody because I see you, I feel it and let's, let's make it a normal conversation. Yeah. So these business owners were feeling resistance around growing their memberships. But when we dug into it, the real issue wasn't actually about growing the membership. It was about revenue need, right? And that's a very big distinction. The problem that they were trying to solve. Wasn't needing more humans in their program. It was needing more dollars flowing through their accounts. Okay? You feel that difference there? So let me ask you. Are you trying to grow your program? Or are you trying to solve a revenue gap? Very different things, right? And the strategy that you choose Depends on the answer to that question, because if you're trying to grow a program, you're thinking about community building, engagement, onboarding, retention, continuation. You're focusing on getting the right people in, keeping them in for the long haul, getting them fantastic results, growing your skills, growth, growth, more and more. Yeah. If you're trying to solve a revenue gap, however, I mean your options and opportunities, they just expanded exponentially. You have more ways to bring in money than just adding more clients. Right? Do you hear that? You have more ways to bring in revenue than just adding more clients. Yes, you can increase prices, coaching packages, group programs, memberships, products, et cetera. Volume, right? It's more people buying. We can also improve conversion rates on existing offers. We can create new offers like VIP days, whatever you want to label these things. You can dust off and sell programs that exist that you've forgotten about. you can upsell clients into longer term contracts. You can talk about continuation plans. You can add on services, you know, what are they saying that they need, that you have the capacity to provide, And those are just a handful of examples. There's, there's many, many more depending on the actual situation that you're in and the capacity for the season of life that you're going through right now. Yeah. But this is where I see a lot of people getting stuck. They feel tension around growing a program because deep down they don't actually want more clients. They want more revenue, but they don't realize that that's two different things. They don't realize they have choice there, that there's a gap between them. Those are actually different goals. So let's talk about some strategy here. If you're focused on revenue, you can start by looking at what you already have. Can you offer one on one upgrades for group clients, VIP intensives for fast track experiences, mastermind add on for existing coaching clients, digital products based on your existing coaching frameworks, right? And you can, you know, change the word coaching to memberships. to service packages to, you know, et cetera, et cetera. Right. It's interchangeable. The point is there are multiple ways to increase revenue without forcing yourself into launching or scaling something that doesn't feel right. And again, I'm talking about not feeling right. Cause there is a difference stretchy. And you are ready to expand beyond comfort versus your entire being saying, hell no. What do you think you're doing? Okay. You have to, you know, know yourself. You've got to come together in order to feel that difference, but there is a very distinctive difference between those. All right. So is it like a butterfly excitement? Here we go. I don't know what's going to happen, but. This is going to be a leap into the unknown. Let's do it kind of Expansion or is it a I am stopping with all of my body? Don't you dare push me forward anymore. We are not doing this I'm going to sabotage every single move we make because this isn't gonna happen. Yeah All right Both of them you might at first kind of label You know, fear or what I call nerve sided, you know, where you're nervous and excited at the same time, right? Because that's just kind of that little butterfly is welling up. But once you have that kind of initial flutter, you then need to sit in it and say, does this not feel right? Or do I just not know what's going to happen yet? And this is actually my moment to step out of comfort and into expansion. Okay. So I want to pause and make sure that we are talking about the same thing here. Cause when I say it doesn't feel right, I mean does not feel right versus using that as an excuse whenever really this is your opportunity to expand. Okay. So back to it. Another key piece of the puzzle that we must talk about is diversifying your revenue streams. So that way all the pressure isn't sitting on one main offer all the time. Yeah. If you're feeling financial strain, it might be time to introduce new but complimentary offers that work within your existing business model. So think about digital products that repurpose your existing coaching content. Low ticket micro offers that give people a taste of your expertise. Hybrid coaching models that mix group and one on one support depending on your capacity. Subscription based access to resources or exclusive content that end after a certain period. So that way neither you nor them are locked in for an eternity. Right. That's really helpful for people to feel that end date of commitment, especially when things feel turbulent and unsure on a grand scheme where no one can control. Yeah. Like political and economy and all that kind of big heavy stuff that, that, you know, happens over and over again in cycles. Yeah. So when your business has multiple revenue streams coming from various places. It gives you flexibility and it relieves the pressure to constantly enroll new people into a single high touch offer, right? As well as gives you capacity flexibility. Whenever things are a bit too much or something happens that you need to respond to in your personal life or in your business. Yeah. Instead, you're creating a sustainable ecosystem where different offers feed into each other. And it creates what's actually a funnel. So people are naturally being brought from one offer to the next when it's appropriate for them as they are already in your world. And it's time to move into the next stage whenever they feel it's right. Yeah. That's, that's the accurate use of that word. Okay. And if you're like, Oh, hang on, I already have some of these examples. When did you promote it to your list or to a wider audience and bring in some new people? That's a launch, by the way, to remind people that these products exist or to introduce yourself to a new group and, you know, really like create some buzz and some fanfare and some brand awareness around this. To show people that, Hey, you're awesome. And these things get people results. Oh yeah. And they're all available for sale. And if you're thinking it's been longer than a month since I've touched any thing else, it might be time to rethink that. Yeah. Especially if you're sitting there feeling that tension of revenue squeezing. And for those of you who are on the other side, and you're thinking, no, but I do, I do want to grow my group program. I do want to grow that membership. I do want to grow these pieces. That's fantastic, too. So instead, let's look at the ways to make that easier. So first, well, what's stopping people from joining? Do you know, have you asked people, do you have data around this? Get as much as you can from people. Yeah. Right. Is it clarity, trust, access is access to you. Is it access to the platform? Is it what, right? There, there's many different ways to take that. So dig into it. Same thing with the word trust. Same thing with the word clarity. Cause it actually can be the clarity of themselves with the problem. Are they actually going to do it this time? Can they actually make the change as well as the clarity of your messaging, as well as the clarity of your promise, as well as the clarity of the results and what you do, right? So we have to look at the full spectrum of all of these words and overwhelm over when their personal life and their overall, you know, community in the world that we're in at large right now in, in all messages are just getting swamped. Is it overwhelmed in their business? Because you don't remember around here, we always talk about, they are not joining you, you were joining them. So your program, your community, your access, your coaching is one hour, 30 minutes, one part, three hours of their day, right? They don't pause everything. And you know, get to stop the world and pause and be a part of you and no longer be a mom, no longer have other responsibilities, no longer need to take care of themselves or the world or their house or their own business or their job they're in or anything else in their life. Right. The people that they're responsible for. All of that stuff still exists and yes, you can create, you know, a retreat in a community to come to and rest in and a safe haven to be a part of, but that's still one segment of their day. Yeah. So we have to always realize that the sales isn't just about us. It's also about what they have going on and we just need to make sure that we are a pleasant touch point for them to remember for the future as well as be an open invitation for those who are ready now, right? You might not need a full scale launch. You might just need a better way for people to get a taste of what you offer so they can see what it's like to have you in their world and how you will fit in seamlessly. Give them that example. Show them what access is like. Show them how they can trust you. Show them how they can get that clarity, what it would be like to really join. You know, and, and one strategy is to take part of your best coaching content. The thing that clients just absolutely love the most, turn that into a micro offer, right? You know, we love our micro actions around here and micro offers are one of the fun ones. Sell that, sell that as a taster, make it a bundle and on demand training. Let people get a feel for what you do before asking them to commit to the full thing, right? If you're thinking about creating micro offers and you're not really sure what to start, I've got you, you know, you can grab, a freebie actually that I've made called five ways to create micro offers. It's a great way to see how your existing genius already has beautiful pieces Out there for sale. Yeah. I'll walk you through how to create small, profitable offers that fit seamlessly into your business, right? The link will be in the show notes, but it's, it's a great one to grab. And that's, one micro action that you can take into your day to Um, help diversify and to help look at these different revenue streams, as well as giving people most importantly, a taste of what it's like to be in your bigger programs, right? So whether you're needing to diversify revenue streams or whether you are also, or only wanting to grow these programs, it fits both of them. Yeah. Cause the key here is alignment. The revenue strategy should match how you actually want to run your business. If pushing for growth makes you feel resistant and remember, not stretchy, but resistant, listen to that. But if you want more money without scaling up that client volume, we've got a lot of other ways to explore. Right? Lots of other levers that we can pull to get more revenue without just adding more people. It's not just about, you know, memberships only, coaching programs only. It's any of these high touch offer strategies. One on one masterminds, groups, hybrids, all of the above. The goal is to create a revenue plan that works for you, not just follow the default grow bigger path, right? That can, like, leave you exhausted and confused about onboarding and community support and all, all the other Back end pieces that go along with it, right? Because it can be beautiful to be surrounded by that and it can be beautiful to see the money in the bank and all The things that you get to do with that, but that's not always what you want for the season that you're in so let's explore what else there is and what it is that you're truly after and Separate the goals so we can get you what you really want quicker right So that's what we've got today. If it sparked something for you, I'd love to hear it. You can always drop a note in the AMA box. You can always ask follow up questions in the AMA box. I would love to hear it. And don't forget to grab that micro offers freebie where I walk you like step by step through, um, how to dig out those, golden pieces from your existing genius. All right. And experiment with some new revenue streams. And until the next episode, be well and have some fun. Thank you for joining me here on Digital Business Your Way. Be sure to check out the show notes for all the links mentioned today. And while you're there, I'd love for you to rate and review the show. And if you have a topic or question you want me to answer, I want to hear it. Head to Tracie Patterson dot com slash AMA and ask me anything about business. If I don't know it, I'm bringing up with one of my guests. And until next week, be well and have some fun.