Years ago I sent the following email out (which I believe to be just as relevant today):
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There's a funny scene from "There's Something About Mary", where the main character (Ted - played by Ben Stiller) picks up a crazy, killer hitchhiker.
The hitchhiker starts telling Ted about his business idea to create The 7 Minute Abs program, to undercut the 8 Minute Abs one.
Hitchhiker: "Think about it: you walk into a video store, you see 8 Minute Abs sitting there and 7 Minute Abs are sitting right beside it, which one are you going to pick, man?"
Ted: "I'd go for the 7 ... unless someone comes up with The 6 Minute Abs, then you're in trouble huh?"
After hearing that, the hitchhiker goes nutso and Ted quickly pulls the car over to get away from the guy.
The hitchhiker's business strategy isn't unique ...
Take energy drinks for example. I used to drink 5 Hour Energy shots (I haven't had one all year since ditching them was my new year's resolution once). One day, I walked into a store, and I saw 6 Hour Energy shots. By now, there could be 7 Hour Energy shots on the store shelves.
We see this kind of one-upmanship happening in the coaching world, too.
Back in the day, you'd see people touting themselves as 6-figure coaches. Then 7-figure ones leapfrogged them, and now I'm seeing "8-figure coaches" in the marketplace.
How much longer before we see 9 or 10 figure coaches?
When I start working with coaches on their businesses, I don't make 7, 8, 9 or 10 figure promises. But I do tell them that if they work hard, they can do very well with it.
I've had clients make the leap away from their 9-to-5 jobs to coaching full-time in as little as three months. They may not be making 10 figures yet, but they're pretty darn happy ...
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If you'd like to learn how to do it too, check out my Secret Coach Club newsletter. The August issue goes to the printer this Sunday night, grab it while you can:
Marc Mawhinney