[Coaching: Maia #17] Increase the profitability and value of coaching

Coaching Series: Can Zach take this entry-level freelancer (Maia) to a 6-figure income ($8,333/month) in 6 months?

Follow their journey through the ups and downs and watch them grow!

Milestones from today’s episode:

• Maia confirms the profitability of his company and the positive impact of recent adjustments in personnel and financial management.
• Introduction of a detailed organization of financial and customer data in Notion for better monitoring of project profitability.
• Plans a beta group membership model to enhance its coaching offerings, focusing on tangible benefits and scalability.

Coaching highlights from today’s episode:

• Zach critiques Maia’s Notion setup for financial tracking, suggesting improvements for better management and scalability.
• Emphasis on the need for detailed project cost tracking to optimize staff workload and project pricing for increased profitability.
• Guidance on balancing customer coaching engagement and expectations with a strategy for integrating group memberships with other offerings for a complete customer journey.

Original coaching call recording date: 09/21/2023

The DYF Accelerator Community includes weekly live 20-minute one-on-one Zoom coaching with Zach that follows the same format you saw here.

You’ll also have access to our huge library of all past coaching calls, as well as a text-based community and weekly accountability check-ins.

Click here to find out more “

• 12:00 a.m. – 2:00 p.m. — Zach introduces the podcast series aimed at helping Maia reach six figures as a freelancer, discussing the focus on profitability and new directions in coaching.
• 2:00 p.m. – 4:00 p.m. — Maia confirms the profitability of his company and the effectiveness of his recent changes in personnel and expense management.
• 4:00 p.m. – 6:00 p.m. — Discussion on the specific profitability margins of Maia’s projects and the detailed organization of its customer and financial data in Notion.
• 6:00 – 8:00 — Maia shares her anticipated revenue and the importance of managing expenses, especially personnel costs, to ensure profitability.
• 8:00 – 10:00 — Zach critiques the scalability and efficiency of Maia’s current Notion setup for tracking project costs and billing, suggesting improvements for better financial management.
• 10:00 a.m. – 12:00 p.m. — Zach suggests creating detailed tracking of client projects to effectively manage staff workload and advocates a system that measures project costs for a better business case.
• 12:00 – 2:00 p.m. — Discussion on the importance of tracking both personnel costs and personal time investment in projects to assess profitability and make strategic business decisions.
• 2:00 p.m. – 4:00 p.m. — Maia plans to implement a more detailed analysis of the project’s costs and profitability, including its investment of personal time, to improve its business model.
• 4:00 – 6:00 p.m. — Zach emphasizes the potential to significantly increase bottom line by understanding and adjusting project pricing based on actual costs.
• 6:00 p.m. – 8:00 p.m. — Maia asks for advice on making her coaching offerings more tangible and valuable, sharing her experiences with different client interactions and her desire to improve as a coach.
• 8:00 p.m. – 10:00 p.m. — Zach shares his experience with different types of coaching clients and the challenge of balancing personal investment with clients who treat it like a subscription service.
• 10:00 p.m. – 24:00 p.m. — Maia expresses confidence in her coaching approach, mentions plans to explore a group membership model, and seeks to make her offerings more tangible.
• 24:00 – 26:00 — Maia presents her beta group membership plan, including benefits for VIP coaching clients and a low introductory price for initial members.
• 26:00 – 28:00 — Discussion on the scalability of Maia’s group membership model and potential adjustments based on member numbers and engagement levels.
• 28:00 – 30:00 — Zach gives advice on managing time and expectations as Maia’s membership model evolves, suggesting a three-month trial period to gauge the viability of the project.
• 30:00 – 32:00 — Maia considers how to integrate her group membership with other offerings, like digital organizing courses, to create a more complete customer journey.
• 32:00 – 33:56 — Closing out the episode with goals for the coming week and promoting their respective communities and social media platforms.