Most coaches understand and think that they need to find what they call the ideal client.
The truth though is what most people call their ideal client is actually not what they
should be focusing on.
They should be focusing on their ideal premium buyer.
Your ideal premium buyer is what I like to call your wealthy place in your coaching business.
In today's episode of Coaching Business Mentor, I'm going to help you understand who your
ideal premium buyer is and how to attract them so you can begin to nurture your own
wealthy place.
See you on the inside.
Are you a coach?
Do you need to get paying clients consistently, but you don't want to waste countless hours
trying to be famous in social media?
Do you want a calendar full of appointments with quality prospects who want what you offer
so you can convert premium clients month after month without stress?
Now you can do just that when we help you implement the Predictable Profit Machine for
coaches, a business system that helps coaches consistently generate profits in their business.
All you have to do is visit coachingbusinessmentor.show forward slash machine, watch the short explainer
video and then go ahead and book an appointment.
Let us help you build a Predictable Profit Machine around your own coaching expertise
so you can start earning predictable profits in your business month after month.
Welcome to this episode of the show.
And here I'm actually going to be talking about finding your wealthy place.
Now I want you to imagine that you have come into this really massive mansion and there's
about a hundred rooms in this mansion and you have a short period of time to be able
to find out the one room you would want to stay.
Now I want you to imagine that a lot of these rooms don't have anything of significant value,
but there's maybe two or three rooms in this house, about two or three rooms in this house
where there is a lot of wealth.
And you are told if you can find the room you would like to stay within 15 seconds,
that room you find and everything in it is yours.
You would probably want to come up with a system of finding the right room because you
don't have enough time.
And what you don't want is a situation where you're just going from one room to another
searching through each room because within 15 seconds you probably won't be able to get
through maybe one, maybe if you're quick, two rooms.
And that's technically what it's like in business.
The reality is in business you have limited time.
You also have limited money.
You also have limited energy to invest in your business.
You don't have all the time in the world.
You don't have all the money in the world.
You definitely just, you don't have all the energy and resources you can invest into your
business.
And so it makes sense that if you're going to get this right, you want to channel your
energy, channel your time and channel your money productively so you can get the best
and highest return on your investment.
And for that reason, it's really important that you identify where your wealthy place
is as quickly as possible so you don't end up burning yourself out, working very hard,
pouring a lot of energy, pouring a lot of time, pouring a lot of money into this venture
and not getting enough back to justify what you've put into it.
And the thing is, if you don't consider this and are quite strategic about finding your
wealthy place, you will get burnt out.
And that's happened for so many people who potentially could have made a big difference
and made a lot of money in the marketplace as coaches.
But just because they didn't find their wealthy place, they just went in and began to work
and pour themselves into what they thought would be a good business.
And eventually, they just don't get the returns they expect.
And then they have to go back to doing whatever it was they were doing before and they give
up on their dreams.
And we don't want that for you.
That is the reason why today I want to talk about your ideal premium buyer and the importance
of nailing your ideal premium buyer.
First of all, notice I did not say your ideal client.
And you're going to understand in a moment why I do not focus on the ideal client.
I really believe that what a lot of people call the ideal client, who their ideal client
is and who they target as their ideal client is one of the reasons why most coaches are
not successful.
And you'll understand that in a bit.
But instead of focusing on the ideal client, what you should be really looking for is that
person who's your ideal premium buyer.
Now, who is your ideal premium buyer?
You want to write this down.
Your ideal premium buyer is the person who gets the most value out of what you offer
and is both willing and able to pay for it.
Now let me repeat this.
Let me say this again.
Your ideal premium buyer is the person who gets the most value out of what you offer
and is both willing and able to pay for it.
The average coach who's looking to build a business, what they think is, you know what?
Who can I help with my expertise?
Who is the person who I can help with my expertise?
Now, a business-minded coach, they ask themselves a different question.
The questions you ask, and every coach should know this, determine the quality of the answers
you get.
So while the average coach asks themselves, who can I help with my expertise?
The business-minded coach asks themselves, who can I help and where can I make the biggest
difference for them and make the biggest profits for myself?
Let me say that again.
See a different question.
While the average coach is, who can I help with my expertise?
The business-minded coach on the other hand, ask themselves, who can I help and where can
I make the biggest difference for them and make the biggest profits for myself?
As you begin to unpack this question, you will begin to identify who your ideal premium
buyer is and you will begin to identify where your money is as a coach.
The average coach is focused on their ideal client, which is usually the person who I
can help with my expertise.
While the business-minded coach is focused on their ideal premium buyer, which is the
person who they can help, where they can make a big difference and they can get a great
return.
You see the coach who is looking for their ideal client is focused on their comfort zone.
And what does that mean?
What does that mean to be focused on your comfort zone?
Well, the average coach who's building a business, and I know this because I've spoken to literally
thousands of coaches over the last 10 years.
The average coach would say to themselves, I used to be in this place, in this lowly
place, but I've been able to get to this higher place.
I've traveled this journey from wherever I was before to this higher place in life.
Now, I want to help people who are like me, who are where I used to be, who I can help
get to where I am now.
See, that's how the average coach thinks.
They're thinking about their comfort zone.
I'm comfortable because I know those people very well.
I used to be where they are.
I know their reality, and I've been able to travel this distance.
So I want to help people like that get from where I was to where I am.
Because that is how the average coach thinks.
And the reality is where I was and where I am for most coaches, that is our comfort zone.
Now, the business minded coach, on the other hand, thinks quite differently.
And I'll be honest with you, it was my own mentor who actually helped me understand the
foley of this kind of thinking.
Let me break it down for you.
For quite a while, I had been running my own business and I started looking to leverage
the internet from very early on, from around 2002 was when I began to venture into looking
to use the internet to build my business.
When I got involved with affiliate marketing, I began to build marketing funnels around
2004, 2005, 2006.
I was building marketing funnels and setting up ads and running these sort of campaigns
for my business.
And they were working quite well.
I was running affiliate marketing programs and I was really killing it and making a lot
of money.
At some point, I then began to explore how I could help other people do what I'd done.
So what did I do?
I began to look for other startup entrepreneurs like me who could benefit from my knowledge
and my expertise.
The challenge though was when I met up with them, when I sat with them, when I began to
show them what I could do for them, most of them could not afford me.
And I remember my mentor would see some of the things I'd built and some of the things
I'd done for him.
And he would say to me, TJ, you know, there's lots of local businesses who could benefit
from your expertise and they will pay you a lot of money because if you implement this
for them, it would make a big difference for them.
And I would just not pay attention.
I would hear him, but I wasn't really listening.
You know why?
Because I knew entrepreneurs.
I understood them.
I understood their reality.
They were me.
These local businesses on the other hand, like solicitors and accountancy firms and
estate agents, I didn't know these businesses.
They had employees, they had offices and I just didn't feel very comfortable with these
businesses.
And so for a very long time, I stayed in my comfort zone focusing on entrepreneurs.
The challenge though was most of these entrepreneurs were probably working a full-time job and
were building a side hustle and they just could not afford the prices that I know that
I deserved for the value that I brought.
And it wasn't until my mentor sat down with me one day, he'd been telling me this over
and over and over again.
And I just didn't, I couldn't receive it because I had a mental block because I just didn't
feel comfortable stepping out of my comfort zone.
And maybe you're listening to this and you can understand, and I'm sharing this story
with you so you can understand that it happens to all of us.
And then one day he said, DJ, you really, really need to look at local businesses because
if you don't, someone else who's not as good as you is going to come in and they're going
to milk that market and they're going to make a fortune.
And when he said that to me, I then thought to myself, okay, what can I do?
And then I looked at joining my local BNI, which is a local business network.
I went over to this local BNI and I attended their meetings and initially I felt quite
uncomfortable.
So one of the things they did was we have about 30 businesses in the room, these breakfast
meetings, and then each business would have a minute to pitch and tell other businesses
what they did so that we could all refer our services and to others that we knew.
And I remembered standing up and then just doing a pitch about what I did and thinking
none of them here is going to be interested in what I had to offer.
And guess what?
Soon as we were done, a solicitor who ran their own firm came up to me and they asked
me if I was willing to have a chat with them.
Long story short, they gave me their business card.
Two days later, I was in their office, sat down with them, had a chat, and I left there
with a 10,000 pound contract to help them set up a marketing campaign.
We agreed 10,000 pounds there and then to set up something similar where entrepreneurs
will be haggling back and forth for 300 pounds.
That literally transformed my life and my business, but most importantly, my thinking.
So you can imagine where a few years later, I had a client of mine who was in a similar
situation.
Now, this client of mine was a career coach and he helped at the time fresh graduates,
people who were just leaving university, as well as people who were just fresh migrants
coming into the UK.
And he was helping them with their CVs or resumes and helping them prepare for job interviews.
So they could nail the job of their dreams.
And I remember when I sat down with him and he was very frustrated.
He was charging 200 pounds, which is not a lot of money, but he said people just weren't
willing to pay.
They would come to him, they would ask him a ton of questions, but when it came time
for them to invest in his help, they just wouldn't.
So I remembered what my mentor told me at the time and I gave him similar advice.
I said, why don't you do this?
I said, what I suggest you do is reposition.
So we sat down, we did a bit of back and forth and we identified a market who he could target.
I said, why don't you target professionals who are looking to transition from full-time
employment to freelance contracting and literally just repackage and reposition your offer for
this audience?
Why?
Because this audience will get more value out of your help and they are likely to get
better results quicker to justify your rates.
And so he repackaged his offer and he moved from 200 to 3,000 pounds for his offer.
And he began to position it, he packaged it and within six months, his business had grown
to the point where he was then able to walk away from his job and go full-time with his
business.
So you can see here that when you shift from just looking to help people who are like you,
but you shift to serving your ideal premium buyer, you position your business for financial
success.
You will be able to identify your wealthy place.
I guess the question is, if we understand that your ideal premium buyer makes all the
difference, then how do we nail our ideal premium buyer?
What exactly do we need to do to identify this wealthy place?
We're going to discuss this when we come back.
You are listening to The Coaching Business Mentor, the podcast focused on giving premium
business advice to heart-led coaches like you, helping them get more clients, help more
people and make more money consistently.
If you would like your questions answered and your business featured on this show, all
you need to do is go to coachingbusinessmentor.show forward slash question and go ahead and ask
your question there and hit the submit button.
And I will make sure that we answer your question here on the show.
Also, there's three things I would like you to do for me if you're enjoying this show.
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Number two, I'd like you to leave a review letting other people know how much value you
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get value out of listening to it.
That's it.
Let's go ahead and come back.
Hey and welcome back.
Just before we went on the break, we were looking at the ideal client, which is usually
what the average coach will be looking to target.
And that's usually the older version of themselves.
And we're now suggesting that if you're looking to find your wealthy place, then you should
be looking at your IPB, which we call your ideal premium buyer at profit from coaching.
What we're looking to do now is understand how do we nail, how do we identify our ideal
premium buyer?
There is a very in-depth way of doing this, but I'm going to basically just give you the
basics, just a quick way for you to be able to just sit down and analyze and identify
who is likely to be your ideal premium buyer.
Now, first of all, I want to quickly help you understand before I dive into this, the
key words here are ideal.
So ideal meaning that it doesn't mean this is the only person who would buy, but ideally
this is what you would call your perfect ideal person.
And then the word there is premium.
So premium basically is if you think about premium, you would think about the highest
quality.
Usually people associate premium quality with premium prices.
So you're looking at your higher end solutions, what people like to call their high ticket
offers.
So I would recommend if you're a coach that you should be packaging high ticket offers
if you're building a business.
But the reality is your high ticket offers are usually for ideal premium buyers.
You can't be packaging a high ticket offer and targeting a person who just can't afford
what you have to offer or it can't really be justified.
The pricing can't be justified for that individual.
So you're looking at premium, which is usually a high end, high end, high ticket solution,
as well as buyer.
And that's a critical thing is as a business, you should be thinking about buyers.
Sometimes the client is not the buyer.
And when you're beginning to look at how to position your business, you need to be thinking
about the buyer, not the client who you're working with, because a coaching client is
the one who you're working with.
Your buyer is the one who will invest in your solution because they want it.
And that's the reason why we use the word ideal premium buyer and we don't use ideal
premium client.
So it's IPB and not IPC.
Now that I've established that, I'm just going to share with you three quick things that
we can do to nail our ideal premium buyer.
The very first thing that we can do is we can identify the conditions that need to be
in place for this method.
So whatever your methodology is as a coach, whatever your process is, what are the conditions
that need to be in place for this method to produce great results?
Think about it this way.
You want to be able to answer this question.
If these conditions are met, conditions one, two, three, however many conditions they are,
I am very confident that we can achieve these results.
So you would say if this particular things are in place, if one, two, three are in place,
then we should be able to help you get this result with our input.
Let me give you a classic example.
If you look at Profit from Coaching, our company, our core offer is our predictable profit machine.
And this is something that we offer to a particular audience.
We do have certain conditions that need to be in place where I know that if these conditions
are met, I could pretty much guarantee the results of a client.
So I always want to ensure that these particular conditions are met.
Now what are these conditions?
One of them is that this particular client or potential client must have a track record
of getting people results.
So they have a tangible track record of getting people results with testimonials.
They have people who they have helped and they have proof of actually helping them get
from a less desirable place to a more desirable place.
That's the first condition.
The second condition is that they have had up to at least five people buy from them,
which means they've been able to generate at least five clients.
If they have a genuine methodology that gets people results and they've been able to get
five people pay for what they offer, then I know that they are a good fit for our predictable
profits machine.
So those are the conditions that need to be in place for a client to be able to benefit
from what we offer.
And so that is ours, but for your business, it will be something different.
What are the conditions that you know that if these conditions are met, then this particular
person is likely to benefit from what we offer?
This is something you want to sit down and ask yourself, what are the conditions that
I know that if these conditions are met, then I can help this person.
But if they're not met, it's going to be hard for me to help them.
That's the first thing.
Why?
Because you really are going to be charging premium.
If you're going to be charging premium, you're looking at the person who is likely to get
the best results.
And so you want to identify the conditions that need to be in place to improve or increase
the likelihood of you helping them get the results that they want to get.
That's the first thing.
Number two, we then look at the problems to solve is we want to look at three things.
Number one, what is the size of the problem that you're solving?
Is it a big problem?
So we're looking at the size of the problem, looking at the importance of the problem solved,
and then we're looking at the value and this critical.
So when we look at what is the problem that you're solving, how important is it to that
potential client?
How much of a stress is it to this individual or this organization if this problem is not
solved?
And then we look at the value of solving the problem.
When we're looking at the value of solving the problem, I look, there's a lot of things
you can look at, but I look at three things.
Number one, time.
Am I able to help them to make time, save time?
Two, money.
Am I able to help them to make money or save money?
And then number three, am I able to enhance their reputation or their perceived value
or am I able to enhance their image?
Because I know that these are things which are usually important to potential clients.
So I look at the time, solving the problem.
If it's a time problem, if it's a money problem, making money, saving money.
If it's a time problem, save.
If it's a reputation problem, positioning, enhancing your reputation, saving you from
reputation, disaster, that sort of thing.
And there's other factors, but those are a few factors that just come to mind that you
want to look at and identify the problem.
You've got to have clarity around the size of the problem.
Why?
Because at the end of the day, you've got to identify the person or the entity or the
business or the organization, the individual who actually wants to solve this problem,
how big the problem is to them, how important solving this problem is, and then the value
of solving this problem to the individual.
The bigger the problem, the more important the problem, the greater the value of solving
the problem to this potential client, then the more likely they are to be an ideal premium
buyer.
So this is the second factor that you want to look at when you're looking to identify
who your ideal premium buyer is.
And then number three, this is really important.
Once we've looked at this and we've identified a few potential clients, this is where you
want to dive deep and get to understand who gets the most value.
Really important.
So you've identified a few different people.
I gave that example earlier on with this client of mine who had been working with, because
yeah, a graduate getting their first job, getting on a graduate scheme, getting the
job of their dreams.
That's great.
Someone who is a fresh immigrant coming into a new country, getting that first job and
being able to sell it to Lynn.
So it's a big problem for them.
It's an important problem and it means so much to them.
But this is the difference, right?
How much value, it's all about who gets the most value.
With a graduate who's getting on a grad scheme here in the UK, you'd be looking at maybe
landing a 30,000 pound job as your first job, that's the reality.
That's kind of like what a graduate would be getting on a grad scheme.
Truth be told, it's kind of hard actually, because there's so many people who graduate
every year who are looking to get on a finite number of grad schemes and they don't have
a lot of experience.
The same thing with the person who's an immigrant coming into a new market.
It's a tough thing to be able to crack and break in.
I'm not saying you can't help them, but you're going to see that a lot of the conditions
that need to be in place for you to be able to get them those results quickly, time, or
to be able to justify your fees is going to be harder for this lower end of the market.
The other thing is not only do they will get some value, but they won't get maximum value.
And the other thing is they just may not be able to afford you.
Now look at the other market.
Let's look at professionals who are looking to transition from working permanent full-time
roles to working as freelance contractors.
So this professional might be on, let's just say they're on 45,000 pounds a year.
Now they're looking to transition to working as a freelance consultant.
And maybe they're going to be earning between 300 pounds a day to 700 pounds a day, something
in that region, maybe a little more, maybe a little less.
Let's just go with 500 down the middle.
So they're looking to transition to a 500 pound a day freelance contractor role.
The reality is they're looking to transition to a job that's going to be paying them 10,000
pounds a month pre-tax.
Ask yourself this question.
Which one of these people are more likely to pay you 3000 pounds for you to work with
them over a two or three month period in order to land the job of their dreams?
The fresh grad, the fresh immigrant who is just looking to find their feet, or someone
who's on 45,000 a year who is looking to transition to six figures a year with your help.
Which one of them do you think is going to see the value of your help and invest in 3000
pounds is not going to make them think, that's crazy, that's too much.
Because they will get a greater return on their investment with you, even though you're
probably going to put the same amount of energy, work, expertise in with these different individuals.
But the return on investment is going to be significantly higher for your ideal premium
buyer, which will justify the fees that they're paying you for your help towards achieving
their goal.
People might say to you, and this is one thing that people say to me a lot, they say, DJ,
I hear what you're saying, but I want to help these people.
I want to help these fresh graduates.
I want to help these fresh immigrants.
I have a heart for them.
And I say to them, coach, I understand you.
I have a heart for young people.
Some of you may not be aware of it, some of you do know that I work with teenagers and
I really work with them to help them just begin to position themselves for adulthood.
I care about these people and I do coach them, I do support them, but that's not my business.
That is what people may call a ministry or a charity.
That's what some people might call doing pro bono work.
But I love teenagers, I care about them.
If I tried to build a business working with teenagers, how much would I charge them?
They can't afford me.
So I work with clients who can get maximum value out of my expertise and I can justify
my fees because of the difference it makes in their businesses.
But I can serve young people from a place of passion, from a place of ministry, and
I don't charge them.
And so, coach, as you're listening to this and thinking to yourself, DJ, I hear what
you're saying, but I really want to help certain people.
I care about them.
I say, that's okay.
That's you, the individual.
But the coaching business owner, you, you've got to look at your wealthy place, maximum
return on the time, energy and money you're investing in the marketplace.
So you want to look at your ideal premium buyer, the ones who will get the most value
out of your help, the ones who you will work with, the ones who you will be able to make
that big transition and the ones who will be both willing and excited and able to invest
at the level you want them to invest and then serve the others as a ministry.
Now the reality of doing this is what people call imposter syndrome.
And I know that because I've been there.
When you're looking to move from a market that's within your comfort zone and then start
serving people who are a different space and some people who might even be more successful
than you are, you can begin to wonder, do I qualify to serve these people?
The truth is you do.
During our next episode of the show, I'm going to continue talking about the wealthy place,
but I'm going to really dive a little deeper in addressing how to expand your comfort zone,
eliminate imposter syndrome so that you can begin to serve your IPB powerfully and become
the proven recognized expert in that space where your IPB, your ideal premium buyers
would not only be coming to you, but they'll be spreading the word about you to others.
So you're getting business coming to you month after month after month.
It's going to be a really, really wonderful one.
I hope this has been good for you.
Look forward to the next episode.
Don't forget, right?
If there's any coach who you know would benefit from this, share this with them.
Don't forget to subscribe to the podcast if you haven't and please leave a review.
I look forward to seeing you again during our next episode.
This is DJ Sabanjo and I am your coaching business mentor.
See you in the next episode.
You have been listening to the coaching business mentor podcast.
The podcast focused on giving premium business advice to heart led coaches, helping them
get more clients, help more people and make more money consistently.
If you enjoy this episode, I'd like to encourage you to do three things very quickly.
Number one, subscribe to this podcast.
Number two, I'd like you to leave a review about the podcast and how useful it was for
you.
And number three, I would like you to share this podcast episode with three coaches who
you know would benefit from this.
Thank you so very much for listening.
If you do want to follow me, you can find me on Instagram.
It's DJ Sabanjo and I look forward to continue to be a part of your success story.
Let's keep on changing lives and let's keep on making our world a better place and getting
paid as we do so.
This is DJ Sabanjo.
See you on the next episode.