Hey guys, it's Will. And to be able to make say 100, 200, 300,000 per month within your course or coaching or consulting business, from my experience, you kind of need to know what that looks like first. So, what I want to do in this video is just share with you exactly what happened in my business last month.
We did uh well, I'm going to put put the numbers on screen for you right here so that you can see them. And I'll walk you through these numbers just so that you can visually start to see and start to understand what the business looks like. So, we had 3,254 people uh land on our VSSL page.
We had 271 booked calls. We actually took 125 uh actual calls. That means that the VSSL from people hitting the page to booking a call was 8%.
And industry average is usually about 5 to 8%. So we at the top of of the industry average. Yes, some VSSLs convert higher.
Yes, some VSSLs do convert lower. We'll talk more about top of funnel metrics and bottom of funnel metrics in a second, but for now, let me just carry on walking you through the numbers. We did $501,000 uh cash collected.
We did over a million in contracted revenue for the month. And that 501, this might surprise you, but that was only 20 new clients that came in last month. And yet that 20 new clients made up just above, actually a little bit further above half of that.
Now, for us, renewals, existing clients renewing and staying longer on one of the the different plans that we offer, that usually makes up about 17 to 23ish% of the cash that you you actually see here on on this screen. So, that 501 figure, it's a mix of new people joining for the first time and other people renewing and and staying a bit longer. And you can see uh again, so 20 new clients joined.
The close rate on the calls was 16%. And I want to get into close rates in a second. I've got some really interesting stuff to share in in a minute that I think if you just take away one nugget from this video, you'll be able to go and scale further and and and make more money.
So, just bear with me and I'll share some more tactical stuff in just a second. Uh, we had 55,000 YouTube views for the month last month and it took us 202 views to book a call. Now, not all of those calls are from organic.
About 30% of those calls are from paid ads, but nonetheless, so on YouTube at the moment, it's taking us about 200ish uh views. And what that PBC stands for is per booked call. So all the views divided into the booked calls gives you the the view per booked call.
And finally probably one of the most important metrics on on this sheet is the uh cash collected per booked call. So that is all cash total cash divided into the number of booked calls. So that you can start to understand for every single call that is booked not even taken not even closed but just booked that number is well I mean here it's $1,848 that on average we make every time someone books in a sales call.
again that's not taken and it's not closed. So those are how the metrics looked for last month. And the first thing that that I want to share that I've learned is you can't scale and make more money unless you understand the makeup of what needs to happen for you to make more money.
So this is the first thing that I want to share because when when I learned this instantly I was able to scale from about 30 40k a monthish up to 200 300 400 uh plusk per month. So here's what I mean. Now let's say that you're making right now 20k per month and you want to make 100k per month.
Your first step is you need to do the math behind 100k per month. So, for example, and if we use my business, so as of now, I've just checked this a few days ago, our average day one cash collected is about it's about $18,000 to $20,000. So, that's the average that someone pays on day one.
Now, we offer a few different things. A group program, a one-to-one program, a done for you program. It's priced by the month, but you can buy multiple months and get free months.
So, the program itself doesn't cost uh say $20,000. That's just the average of all the sales. That's the average that we we collect on on day one.
So, with that being said, if we wanted to make 100k, then on average, we'd have to close five people. So, 5 * 20 is 100. So my first question for you would be what is your lifetime value and what is your day one cash collected?
So for us day one cash is 20k. Let's just say that your day one cash is say 5k and let's just say for simple math your lifetime value is 10k. So over the long term, someone will pay an average of 5K day one and they'll pay an average of 10K over let's say a year, right?
So for you to make 100K in cash, say next month, your average day one cash is 5K. Well, you need to make 20 sales next month. So 5 time 20 100,000.
So we now know, right, we need to close 20 new people next month. Okay. Now, with that being said, if we need to close 20 people, well, let's say that we took 100 sales calls and we closed at 20%.
That would get us our 20 sales. So, 100 calls, we closed 20% which is 20 people. An average of 5K, 100K.
Right now, industry average show rate from my experience is about 55ish%. So, I've again I've seen higher, I've seen lower. It depends on the funnel, it depends on the niche, it depends on the offer.
There's so many factors go into uh a short rate. But again, for simple math, let's just say that the show up rate is 50%. So to take 100 calls, you're going to need to book 200 calls, right?
So you book 200 calls. There's a 50% show rate. 50% of 200 is 100.
Of the 100 calls that you take, you close at 20%. 20 times your average day one cash of 5K is $100,000. So can you see now business is really just math.
So the the next problem that we now have is right so we need to book 200 calls. So the next question is and again we'll use my business as an example. So right now we book about 20 calls a day and that's a mix of Instagram and YouTube and LinkedIn and paid ads and a bit of email.
Now, it currently costs us about £80 to book a sales call from paid ads. Now, let's say that you're running paid ads and your cost per call is, let's say, $100 to to book a call. And remember, we've got to book 200 calls.
So, it's $100 for a call, which means to book 10 calls would be $1,000. To book a 100 calls would be $10,000. I think I think that's the right math.
So, we would need to spend $20,000 on paid ads in this example to book 200 calls to take 100 calls because the show rate is 50%. To close 20 units at a 20% close rate at an average day one cash of five grand, that is our 100k month. That is the math behind our 100k month.
And then obviously take away sales rep commission, take away the paid ad spend, take away your uh tech stack costs, and your profit margin is going to be somewhere around 75ish% on that, which is which is is is pretty damn good. Now, if you are lucky and you have a a personal brand, you might be able to book uh those 200 calls for free from like a YouTube channel or from uh uh Instagram or from uh email or from LinkedIn or something like that. So, the question now is how do we get 200 calls?
Ideally, how do we get them organically instead of needing to use paid ads? Or if we have to use paid ads, what is our cost per call? And how much do we need to spend in order to get the 200 calls that we need to take to then uh uh sorry to book to book 200 to take 100 to close 20.
So, the first thing that you need to do if you want to grow your business from wherever you are, 10, 20, 30K a month to wherever you want to go, probably 100K is probably your next goal. Step number one is to do the math and put this stuff on either a text document or on a spreadsheet and just map out the entire math because most people out there, they don't know even how to get to 100K a month. They don't know how many booked calls they need, how many taken calls they need, what show rate they need, what close rate they need.
They don't know their average day one cash. They don't know their lifetime value. And if you don't know what to do, you can't do it.
So, you need to first know what do I need to do to get that 100K that I want. Now, when you know your next problem is probably going to be just booking the calls that you need. I've made another video that came out a short while ago here on the channel all about all the ways that you can uh book more sales calls.
So, if you haven't seen that, definitely go and watch that after this video. And I'm just going to presume that you have seen that and you are able to book the calls that you need to hit the numbers. Now the next thing that I want to talk about is pricing and close rate because it is amazing from from my experience from my last company that I scaled to 16.
4 million before I sold it to a private equity firm and this new consulting company that I run at the moment. The thing that has really amazed me is the power of pricing and even going as far as to go above and beyond for your customers so that you can charge more. So for example, one thing that I do is I actually do the consulting myself which is blasphemy to to a lot of people out there in a world of courses and coaching programs.
is very rare that someone gives you their WhatsApp, their actual personal WhatsApp which I give to my customers and anytime one-to-one zoom calls which I give to my customers as well but it comes at a premium price so it's good for the customer because man nothing gets people better results than onetoone nothing. If you want to get your customers the best results possible do onetoone and give you WhatsApp if you can. So, it gets customers by far the the best results and it allows me to charge a premium price for my time because of my experience.
I've built two eight figure companies, sold one to private equity, consulted some of the most famous people in the world on their businesses and and on and on and on. But my point here is you should either be charging a high premium price and delivering a high premium uh service if you're able to. And if you're struggling with that, again, just factor in higher touch, higher value uh deliverables like one-to-one uh consulting, maybe in person, which I've just started doing as well, where clients can actually come to my villa here in Bali, which is part of the offer now.
Uh the WhatsApp, access to your team. These are all things that they're not that hard to do, but they add massive value for the customer. They allow you to now charge a premium price and the impact is just it really is staggering.
If you can go from 3K to 5K or 5K to 8K or 8K to 12K or 12K to say 15 or 20 or 25K, man, I've seen this double and triple businesses with that one change in price and deliverables in a month. in two months. I've seen businesses literally triple in size in in eight weeks just from the things that we've discussed in this video today.
So, knowing the math and what they need to do to get to the number that they want, uh working on the deliverables, working on the price, and just knowing the numbers and how to affect the numbers. And this is the next thing that I want to talk to you about. So, industry and uh standard close rate in the course and coaching space from my from my experience at least over the last eight years is around 25%.
That's like you know between founders that close higher, reps that close lower, you know the industry average is about 25 uh%. So that's a nice baseline to to to at least start with. And one thing that I've learned that really surprised me was we've had months this year where the sales team have closed at say 9% and we've made multi6 figures.
12% and we've made multi6 figures. Uh last month 16% close rate which is quite low. back back in the day when I was new, if you told me that you had a 16% close rate, I would probably think there's there's there's there's something wrong here.
But actually, no. What you're doing is this. You're working with less people for a higher price rather than more people for a lower price.
And what most people do is they make the mistake of charging lower but closing higher. And close rate can be a very satisfying but very very very misleading thing. So naturally we all want to close as many people as possible.
And again, there was a month, I think it was the month before last where we closed at it was either 9% or 12%. But we did about 450 plus thousand in cash and it was just down to the day one cash. And we implemented some things.
I'm going to make another video about this, but we implemented some things that dramatically grew the day one cash. And just that alone and it actually brought the close rate down a quite a lot. But we still made the same actually a little bit more money with the lower close rate.
and we're about to do something else in January where this same thing is going to happen again where we work with less people but at a higher price and the service delivery the product is is just so much better for the customer and from my experience I've sold very very cheap things at volume I've sold very very expensive things at very very very minimal volume I mean again 20 people in one month and and some renewals as well, of course, and some backend stuff, mastermind tickets, that that kind of thing is not really shown here. But the main numbers, the main metrics that you see are the main components of uh what a $500,000 per month cash business actually looks like. So my hope by sharing this is now you guys can go away and you can model out that big month that you are aspiring to have and you can start to see how realistic is this with my booked call amount, with my show rates, with my close rate, with my day one cash collected, with my lifetime value.
Is this goal realistic or not? And if it isn't and you're thinking, "Oh my god, I've got to book all these hundreds of calls to take these calls. My show rate is bad.
My close rate is bad. My day one cash is bad. My lifetime value is bad.
" Well, now you've finally got clarity and you've finally got control. And you can go and fix those things. Do what is necessary to hit those metrics that you've got to hit.
And when you do the things that you've got to do, you will get the reaction. You take the action, you get the reaction, and then you'll finally hit that big month that you're aspiring to hit. And now you'll do it with control, and you'll do it with clarity.
