Recently I had a conversation with a friend and past student of mine, let’s call him Dave.
We had helped him get to $55k-$60k/mo in his online coaching business. The way Dave grew the business is no longer conducive to HIS lifestyle, he’s a father who wants to be present with his kiddo and not do consultations calls.
Today I will be sharing the Million Dollar Model that I am helping him launch this month.
The entire Model is designed so Dave doesn’t have to take sales calls, or work 1on1 with clients, and make money in his sleep.
This Model is an exact replica of how I grew my personal training studios.
From 2017 to 2020 I had grown from 1 location to 5 in less than 3 years.
Each studio made $300k-$500k a year.
Then when I shut the gyms down, due to COVID and decided to grow online, I went from 0 to 257 online clients in 4 months, the same model just done online .
After reading this, you will have a clear understanding of what the Million Dollar Model is and how to launch one on your own.
Note To Reader:
Even though the examples I provide are from the lens of growing a health and wellness business. This can apply to any type of online service based business.
Here are the 3 parts to the Million Dollar Model:
The Model works like this…
People join a challenge.
The challenge is delivered inside of a Community.
People get incredible results (quick wins lots of dopamine)
After the Challenge is over, they can sign up for the Community on a monthly membership.
As the Community grows 2-5% of people will join the Semi Private program.
Part #1: The Challenge
In any business there has to be a consistent flow of new clients.
We call this lead generation.
Lead Generation is also one of the 5 core functions of business.
In order to grow a business you need leads.
One way to get leads is by running a Challenge.
I recommend a 21 Day or a 28 Day Challenge priced at $21 or $28.
It has to be so cheap that it is a no brainer.
You can also do it for free, which will get more people in but not everyone will be engaged.
I like to add a payment because when people pay they pay attention.
During the challenge you are helping people get a small win really fast.
Here is an example of our 28 Day Weight Loss Challenge:
Day 1-10: 10 Day Detox (Carb Depletion)
Day 11 - 28: Hand Method (helping people get better at portion control and eating consistently) + adding movement of their choice in.
You’re educating them on long term sustainable health and what that looks like.
Then on the 20th and the 25th day you want to sell them into a monthly subscription to your Community.
Part #2: The Community
The Community is where you are taking people through the Challenge.
I recommend using either Skool, Circle, or Trainerize for your community.
The community is agnostic to the software you use so don’t get hung up on it.
Our goal with the community is to get people to engage and connect with other people.
This is where you create different forms of accountability:
Daily Accountability where people share what the focus of the day is for them.
Nutrition Accountability where people share their groceries, meal prep, etc.
Movement Accountability where people share their steps, workouts, or activity.
After they complete the challenge you want them hooked and want them to find so much value in the Community they want to stay.
The way we focus on retention for the Community is by internal challenges for example:
Another way is running monthly seminars where we have guest speakers that educate the community on different topics.
When it comes to pricing your Community starts anywhere from $15, $29, or $49 per month.
You want it to be low enough that people want to stay & high enough so they pay attention.
This is all free money, this will require very little time from you after the initial build out.
Inside the Community we want to throw in as much value as possible, meaning for $49 a month they should have as many resources they need to get results on their own if they used all the resources.
In Dave’s Community we’ve added meal plans, grocery lists, workout videos from youtube, meal prep guides, and a 12 Step System to teach someone how to manage their own nutrition and health.
Part #3 Coaching
Naturally, there will be some people who will need more help.
That is where the additional coaching comes in.
As people are going through the Community and trying things out on their own they will need more accountability and hands on support.
Usually what we have seen is 2-5% of people in the community will join the Semi Private Coaching every month.
Imagine having a 1,000 members and let’s say 2% (20 people every month) join your Semi Private Program. We recommend pricing it at $2397 for 6 months.
That is $47,940 coming in every single month.
For the Semi Private clients we will take them through the same 12 Step System in the Community instead they get it customized for them and they get a daily check in using an app called Trainerize, no call.
To fulfill on a Semi private clients takes 30 minutes per week total, which includes a weekly plan update (10 minutes), and daily messages (2 minutes per day)
Million Dollar Model Math
Now that you know how the Million Dollar Health & Wellness Model works, now let’s break down the math.
If you get 1000 people into your Community at $49/month this puts you at $49,000 cash collected.
And if 2% of people sign up for semi private every month which is 20 people at $2397 that is $47,940
That puts you at $96,940 per month which puts you at $1.1M at the end of the year.
Million Dollar Model:
The Challenge ($28)
The Community ($49/mo)
Semi Private Coaching ($2397 for 6 months)
Here is how the Model works:
People join a challenge.
The Challenge is delivered inside of a Community.
After the Challenge they can join Community for $49/mo
From the Community 2% of people sign up for Semi Private Coaching.
Remember, when building a business you can optimize for hard work, or you can optimize for efficiency.
If efficiency is your goal, where you’re making more money, working less, AND your clients get amazing results…then the Million Dollar Model might work for you.
Don’t expect this to happen overnight, it will take time.
Remember consistency beats effort all day long.
Most people never win because they quit too early, imagine a year from now having 100, 300, even 500 members in your Community.
Just launch, don’t think just do.
If you have an audience of people who know about you and the services you provide and you’ve got a social media account where you can promote a Challenge, this will be a piece of cake.
Once you have a few people signed up, build out the Community and the first 4 weeks of the Challenge.
As you’re growing your brand and helping people, have a 7 day trial to your community for people who start following you.
Every quarter runs a Challenge to get an influx of people into the Community.
That’s all for today folks, if you have any questions regarding the Million Dollar Model just shoot be a quick DM here.
I would love to hear from you.
Great success my friends.