7 reasons why you’re stuck between $5k-$15k/month as a client-based entrepreneur
1. You’re selling too many different offers, to too many different people
This is diluting your marketing efforts (and making inefficient use of your resources), like trying to throw a bucket of water on somebody’s head from 50+ miles in the sky.
Especially in your early stages, it’s vital to NICHE DOWN in order to create sharp relevant content that allows prospects to start to know you, trust you, and see you as their expert.
- Who do I really want to serve?
- How many strategy sessions / appointments am I booking each week? Keep the main thing the main thing.
- Have I spoken to at least 20–30 different people in this audience to truly understand their pains, desires & motivations? Does my solution match these patterns?
- Does my target audience care enough to spend money on fixing it with your solution?
❌ Can’t find clients who can afford you? ❌
Think about going to Universal Studios (or any other amusement park).
There will always be a slow lane & an express lane.
Your job is to find the express lane people.
These are the people that value their time + sanity enough to pay for skipping the line (successful people value time > money).
Paying extra money to skip a line, or paying 5 grand for your advice might not any sense to lower level beginner who can’t see how to make an ROI on that investment.
However, $5k for your advice is an absolute no-brainer to an entrepreneur who can turn that into $100k, or to someone who you can help save a marriage, avoid a college debt, or cure an addiction.
The only difference is the segment of the market you choose to serve.
Easiest strategy is to concentrate on helping those going from good to great rather than from nothing to something.
2. You feel like an imposter & stress about competition
Look my friend, at the end of the day: we’re living in a free capitalistic society where you’re allowed to compete with other people and provide people with a million different choices.
Consider Pepsi vs. Coca-Cola, M&M’s vs. Smarties/Skittles, The Beatles vs. Rolling Stones, 2Pac vs. Biggie, McDonalds vs. Burger King, Marvel Comics vs. DC Comics, Ford vs. GM, Dunkin Donuts vs. Starbucks, UPS vs. FedEx, Nike vs. Reebok, Airbus vs. Boeing, Apple vs. Windows… I could go on for eternity.
The beauty of capitalism (when done right) is that it breads competition and innovation.
Without competition, businesses and people become stagnant. Without competition, Apple would have never created their first iPod, Microsoft would have never created Windows, and Google would probably be non existent.
The coaching/agency industry wouldn’t be what it is today either.
If you’re dealing with limiting beliefs around like a copycat / second-hand version of somebody else, you need to be honest with yourself and figure out where this is coming from.
Are you truly ripping people off and taking shortcuts (be honest), or is your heart in the right place and are you merely inventing problems in your head? 🧐
If you find yourself taking shortcuts, walk back ASAP and take the “virtues” path.
Taking lazy shortcuts in life will ALWAYS come back to bite you and it’s never worth it.
I had to learn this the hard way in my younger days. Every successful business owner you meet will tell you the same thing.
Most of the time, however, it’s simply a lack of confidence, and the only one thinking about you being an imposter… is you.
Just ignore the competition and focus on serving your market. Be the best of your own flavor you can me. Some will hate you, others will love you.
Some people might resonate more with your personality, story, the way you act/talk/communicate/work/look, your values, and your solution.
If you’re a fitness coach, you might say “the market is already complete saturated with weight loss related products and services… why would anyone pick me? How could I ever compete?”.
Bullshit. Are there still people who are fat and suffering from poor nutrition / lack of exercise? Then you have a job to do.
In the USA alone, fitness & health is a $30,000,000,000 industry. You going out there to serve 10 clients per month for $8k each ($80k/month) is less than 0.0003% of that industry.
That’s almost as low as the percentage of Elizabeth Warren’s DNA being Native American.
Or it’s like going out to the ocean with a small bucket that kids make sand castles with, and being afraid you can’t find enough ocean water to fill the bucket. Even if the ocean was smaller, it wouldn’t matter because capitalism isn’t a zero-sum game.
“Zuckerberg decided to create a small website in his dorm room. 15 years later…. The website is used by billions of people.
People can make personal or professional connections, reach their market via ads etc. This network is worth about half a trillion dollars today.
If capitalism was zero-sum, who lost the half a trillion dollars for Facebook to exist?”
I hope you understand that none of this matters.
If you’re making less than $100k/mo, don’t waste any time worrying about competition or people people copying you.
You’re a leader. People are going to model what you’re doing and mix it with their own creative energy / put their own stamp on it.
That’s how anything in life works.
Even you as a human a human being were created by mixing a bunch of different genes together until you eventually grew into something unique.
Just stop with the ‘imposter syndrome’ already. Add value to your marketplace. Help people out. Most of your fears exist because you’re being selfish (thinking about yourself instead of others) and because of old instincts residing in your ‘lizard brain’ that have nothing to do with reality.
You know you can help people. You know you have an expertise. What the competition is doing/thinking is none of your business. If they’re worthwhile competitors they’re not thinking about you anyway.
Losers focus on winners. Winners focus on winning.
3. You haven’t built systems/automation to free up your time
Have you ever thought to yourself “hmm, it just feels like there’s never enough hours in a day”?
It doesn’t matter if you you sell 1:1 coaching, group coaching, or any other service based product…
If you don’t have a streamlined process created around your offer that allows you to create leverage, and disconnect your valuable time from fulfillment, you’re digging yourself a hole in the ground. ️
You want the ability to deliver results WITHOUT having to start from scratch with every single new client you take on. You do this by productizing your offer.
Furthermore, systems allow you to:
- Increase demand without doing outbound prospecting (LinkedIn outreach, wasting time going to networking events, creating hundreds of blog posts, writing books, asking for referrals etc.). Example = stop grinding, and instead leverage a profitable FB advertising campaign that brings in inbound clients.
- Productize your service-based offer, meaning you can uncap the amount of clients you can take on (because client results are no longer limited to your available hours)
- Track KPI’s automatically so you’re focused on activities that actually move the needle forward
- Relax & on serving your clients without having to worry about where/when the next client will come on 🧘
- Get unlimited appointments & clients without sacrificing your sanity
- Reduce scatter focus and inability to stay on top of things / overwhelm
- Acquire quality leads that actually have money
- Easily put your name out there (with correct positioning)
- Become location independent ️
- Transition seamlessly from offline to online
- Own a mountain and become a “go-to” expert that attracts leads on autopilot
- Step off the income rollercoaster
- Shorten the amount of time it takes to convert a lead to a sale
- … much more that goes beyond the scope of this post
Without systems, you’re mopping the floor while the water is still leaking.
4. You’re unable to control your demand
You might be suffering from a lack of qualified leads & appointments.
This results in various ‘toxins’ in your life
❌ Makes it hard to decline non-ideal clients.
❌ You rely on client sources outside of your control (like referrals)
❌ Creates a chronic state of stress (“did I network enough? where/when will the next client come in? am I really doing the right thing? do they really see the value in my offer?”)
❌ Taking a break becomes detrimental to your growth
❌ Makes you desperate which prospects & clients can smell from a mile away, causing a downward spiral
❌ Inability to focus. You think the “grass is greener on the other side” and that you should change your nice / approach. You start asking the wrong questions.
✅ The way to fix this is by focusing on high-value activities that actually bring in clients, and setting up an automated client acquisition system (funnel + paid ads) that isn’t dependent on you hustling/grinding every single day.
This is 2019. Those who fail to adapt to the new way of marketing will be left in the dust. Not only is it not necessary to “hustle your face off” every single day, it is also a LOSING strategy.
Clicks aren’t getting any cheaper. More and more people are jumping on the ‘digital advertising’ bandwagon (especially in 2019, FB/YT/Linked ads will skyrocket) so there is no time to waste).
The time to get a steady stream of leads and clients via paid ads is RIGHT NOW.
Don’t hit yourself over the head 5–10 years from now when your children ask you what you were doing in 2019 when leads & clients were still dirt cheap to acquire.
Ads (Google/YT/FB/LinkedIn) -> ClientHook Funnel -> Leads Pop Onto Your Calendar -> New Client.
Simple as that. No need for anything too fancy.
If sales & marketing isn’t really ‘your thing’, find an expert who can help you with this.
ClientCore.com has ran ungodly amount of profitable advertising campaigns. Going at this alone (arguably the most important piece of your business) is foolish if you don’t know what you’re doing. 🤦Seriously, if you’re still not speaking to at least 3–5 inbound leads every single week — fix that ASAP.
People are waiting for you to help them. Stop dabbling around with your website or editing that logo 400 different times (just keeping it real — some of you need to hear this). Keep the main thing the main thing.
Focus on planting seeds & generating opportunity every single day.
5. Your LTV is less than $5k (or you charge hourly)
If you’re truly somebody with an expertise that has the ability to transform someone’s life, there’s no excuse to charge anything less than $3k for a productized coaching/consulting /agency package.
Higher prices = higher quality clients = better results = happy clients = more cash to reinvest into ads to get more clients = more happy clients = happy you = happy me.
Undercharging decreases your ability to pay for ads & expand your client base.
In 2019 clicks are getting a lot more expensive. There’s no time to waste.
If you’re charging hourly, stop it. It’s a broken model. The better you get at detecting & fixing your clients problem, the less you get paid. There’s also no way to disconnect / scale from this properly. You only have 24 hours in a day, so your income is capped. Very hard to break $5k-$15k if you’re charging hourly. Let alone break $100k+/month.
Finally: Have you ever held two + sides of 2 magnets next to each other? That’s what happens between you and the premium leads that come into contact with your marketing.
You are repelling them with your low prices.
Would you trust someone selling a Ferrari for $900 bucks on eBay?
Raise your prices. 💰
Out of 7.7 billion people on this planet, you need 4 of them, every 30 days, at $5k each to make $20k/mo (=$240k/yr).
That puts you in a MUCH stronger position to say no to bad fits, and serve the right clients at the highest level.
For this reason and countless others, it’s absolutely KEY to charge what you’re worth.
Your clients deserve it. You deserve it.
6. You’re hoarding information & wasting time on ‘mental masturbation’
Here’s the truth: no amount of watching Gary Vee videos is going to turn you into a successful entrepreneur.
It’s definitely not putting clients on your calendar.
You can not serve the world with your gifts at your fullest potential, while simultaneously living in obscurity… hiding in your little cave like Smeagol.
And for you introverts out there… don’t you DARE use that as an excuse not to put yourself out there. Albert Einstein, Bill Gates, plenty of presidents and millions of others before you were all introverts.
Whether your brain recharges from internal or external inputs has absolutely nothing to do with your ability to network and put yourself out there. I myself am an introvert, as are plenty of other people (30%-50%) around you. Don’t be a little bitch. Play on your strengths and improve your weaknesses.
Get out of your head and do something rather than tricking your brain into thinking you’re moving forward by giving it meaningless dopamine spikes. 🧠 Get into the habit of feeding your brain with the completion of meaningful long term tasks — rather than toxic social media notifications designed to get you addicted to the platforms.
If you (or your systems) aren’t actively generating 10–20 conversations/opportunities with prospects every single week week… and instead you’re spending valuable time doing comfortable things like tweaking your website, doing ‘research’ by consuming content, buying infoproducts/courses, watching Gary V videos, listening to podcasts or other forms of mental masturbation… cut it out. You’re sabotaging yourself.
One of our clients literally spent $200,000 on courses & infoproducts before getting our help to implement & succeed (see the exclusive interview below — he’s at $90k/month now).
STOP consuming information or hunting for the next ‘hack’ that’ll give you an advantage.
You’re not learning anything.
Instead, let’s call it what it is: a lack of confidence.
You’re afraid what people will think of you if you put yourself out there fully.
You might not even know it’s a ‘lack of confidence’. You might call it ‘fear’ or ‘being addicted to the struggle’. It’s all the same thing in my book.
There isn’t some magical method or FB posts that’s going to create a ‘moment’ where everything is going to change. This email is as close as it gets.
If you’re confused on what to do next because you’ve been listening to a million different sources of conflicting information, hire a mentor/expert who has what you want to have. Spend money based on where you want to go, not what you have.
You also shouldn’t need 6–8 months to build out your entire course/online product.
At the end of the day, you need to go SELL so you can help people. You don’t need anybody’s permission. If you do, *𝙝𝙚𝙧𝙚 𝙮𝙤𝙪 𝙜𝙤* I just gave it to you. Seriously go sell something.
7. You’ve stopped making health your #1 priority
You cannot perform at your best when there’s too much cortisol (stress) floating around in your body due to lack of sleep, exercise, meditation, and having fun.
You can try to ‘brute force’ it and attempt to succeed despite all of those things but it’s a losing strategy.
Trust me, I’ve tried. It took me to some very dark places.
Even if you do so succeed:
#1 you’re not performing as well as you could be.
#2 time will eventually catch up to you. The elastic band eventually snaps and hits your in the face with a heart attack / toxic relationships / depression / all that is bad.
I personally make sure I lift weights 3–4x a week, get at least 1 sports massage most weeks, eat clean organic real unprocessed foods with no artificial BS or hormones & antibiotics (I now use a service called Paleo Robbie which delivers this fresh to my doorstep every week. Meats are 100% pasture-raised, fish exclusively wild-caught, vegetables sourced from local farmers with nothing refined etc.).
As a male make sure you protect your testosterone (and other hormones) by maintaining a healthy body weight and avoiding excessive alcohol (or all alcohol if you can/want), BPA’s in plastic, stress, smoking, and other BS chemicals they put into processed foods and cosmetic products etc.
Needless to say, for women this point is just as important.
You’re not here to survive. You’re here to thrive.
Go to bed on time, or at least have a consistent sleep routine. I struggle with this so recently invested in an Oura Ring.
If you don’t wake up and go to bed at consistent times, you’re constantly confusing your body and fighting its circadian rhythm; stripping away your ability to focus on execution and getting clients.
You may know tons of methods on how to do so, but because you can’t control your mind — you don’t do any of them.
Your body is your biggest friend on this planet.
“Most of us are at war with our body. It’s our enemy. We try to control it, manipulate it and whip it into shape. We deprive it, compare it, criticize it and flat-out ignore it. We often treat it like crap. We take it for granted. Yet — we expect A LOT in return.”
Live your life however you want, but to me it is absolutely absurd that people need to be convinced to have a healthy & fit body. Who doesn’t want to live longer, feel better, look better, and have more energy to crush his/her goals?
Allow yourself to release stress and enjoy life a little bit. Otherwise, what’s the point.
Learn to glide.
Steady emotions allow you to think big and treat others + yourself in a way that promotes growth & meaning.
Being healthy gives you the energy you need to go the extra mile for your clients. ⚡
Chances are your clients & prospects have been burned a million times by people in this world who just don’t give a shit, causing them to be risk avoidant and too afraid to do what needs to be done. They doubt themselves and need you to lead them from point A to point B.
You can’t do that effectively when you’re dealing from brain fog or some kind of hangover. Is that cookie/beer/date really worth not being where you want to be in 5–10 years?
Again, live life however the heck you want. Freedom is extremely important to me. I don’t mean to be preachy. But logically, your physical & mental health is more important than anything you’ll ever read in this entire group.
Making health your #1 priority will not only make yourself + your loved ones a lot happier: it’ll help you to be a more much effective business person as well.
Without it, you’ll find yourself procrastinating, getting distracted, and operating below your potential.
Your results won’t live up to the amount of work you’ve been putting in, and it’s all downhill from there.
Protect your sanity. 🧘
8. You lack clarity & a proven strategy (that focuses on the right KPI’s)
Sometimes it can be confusing to figure out exactly what it is you need to do, in order to move your business and love forward. Are you doing the right thing? Are you doing ‘enough’? What can you do better?
The only path that’s clear, is the one somebody else made before you.
As a service-based entrepreneur though, you likely don’t have a carved out path in front of you that a boss has conveniently laid out for you.
You might still be trying to figure out this whole marketing thing.
There’s a million different voices and conflicting pieces on information each telling you they know what’s best for you to grow your business.
One person recommends webinars, the other swears by only doing free organic outreach via LinkedIn.
You see the same thing with diets & fitness routines.
The truth is: any diet will work if you follow it.
The beauty about marketing is that there are tons of different approaches that could work for you.
You can not expect to follow 15 different exercise routines at the same time, and expect to win.
It is crucial that you limit the amount of inputs you allow into your brain.
In the next 2 decades, the #1 skill I see becoming the most valuable (above EVERYTHING ELSE) is your ability to concentrate and remain focused.
Everything is designed to distract you and fight for your attention
This will continue to get worse.
To combat this, Kory Kahley and I just launched a private FB community for Coaches, Consultants & Service Providers who are looking for high-paying clients:
Get High-Paying Clients — Client Acquisition & Freedom Secrets [C.A.S.] 🔥 1200+ members & GROWING RAPIDLY.
If you’re looking for clients, join the group & let us know what your expertise is. Out of the 1200 members, at least 1 person probably knows someone who could use your help.
We don’t bite.
Come say hello 😁
Let me know if you got value out of this post.