Make Money as a Life Coach® with Stacey Boehman | Revenue Tracking and Knowing Your Numbers

One of my biggest missions is to empower women business owners around money, investing, and running a successful company. It’s especially vital for women to understand their numbers, engage in conversations about their revenue, and stay hyperaware of their metrics, but to do that, we can’t keep our heads in the sand. 

I’m always thinking about how my students are performing in the mastermind, and it’s my commitment to have my finger on the pulse of the room so that I can best support them. This is why revenue tracking is a key practice in my 200K Mastermind program, and the best news is you don’t need to be a math wiz for revenue tracking to be incredibly valuable to you and your business.

Join me on this episode to learn why we practice revenue tracking in my programs and how you can start for yourself. I’m showing you what consistent revenue tracking does for you and your business, how I can help my students when I know their numbers, and why developing this kind of relationship with your numbers creates a powerful sense of entrepreneurial maturity.

 

The 200K Mastermind is open for enrollment from May 13th 2024 to May 15th 2024. Make sure to mark your calendars for these dates if you want to join.

I’m making some big changes in my Two Million Dollar Group! For all the details and to get on the waitlist, click here.

What You’ll Learn from this Episode:

  • What inspired the practice of revenue tracking inside the 200K Mastermind.
  • 2 reasons why knowing your numbers matters.
  • The most common reasons coaches don’t know their numbers.
  • Why you must be aware of your thoughts and emotions around your revenue numbers.
  • The revenue numbers my mastermind students track.
  • How I analyze and use my students’ revenue numbers as their coach.

 

Listen to the Full Episode:

 

Featured on the Show:

 

Full Episode Transcript:

 

 

Welcome to the Make Money as a Life Coach® podcast where sales expert and master coach Stacey Boehman teaches you how to make your first 2K, 20K, and 200K using her proven formula.

Hey, coaches, welcome to episode 274. How are you doing this week? I am having the craziest, best week ever. So I want to tell you a very quick story, but I was putting together my 200K Mastermind and Two Million Dollar Group launch list, the idea of all the content I wanted to create. All the things I wanted to do for our first and next opening of the year for 200K Mastermind and Two Million Dollar Group.

And I had all this content listed out and then I kind of reverse engineered and thought, okay, if we want to release all of these things, what are the dates we have to start releasing them? When are we going to open? We had kind of pushed that back and not decided on that because we’ve been reinventing the 200K program. And so you’ll hear more about that coming up in the future. But I realized if we wanted to do all of this, I needed to start last week. Have you ever had that happen? Wait a minute.

So I edited down my list of just all the ideas to my best most favorite ones. And then I reached out to my team and I said, “Hey, do you want to just come to my house next week for two days and just hammer this out?” And then I wanted to get new photos. I have not had photos, actual branding photos for my business since 2021, since before I got married. So it’s been a little bit. It’s been a while. And I have been feeling this fresh version of me coming out.

And with the reinvention of the 200K Mastermind program that I’m going to be releasing and talking about over the next few weeks and just all of the excitement that is happening in my business right now. I wanted new photos to capture this. And so I reached out to a photographer that I had had on my list to think about working with. And I had told them, “Hey, this is the deadline of when I would want these photos. And here’s my travel schedule. And I would like to do it over two days. Can you let me know when the team could be available?”

And they come back to me and they’re like, “Well, the only two days that we’d have available when you need them are next week.” So craziest best week ever. This was on a Friday, a Thursday or a Friday. I spent the entire weekend getting stuff to the tailor, sourcing outfits with my stylist, overnighting things to my house, putting looks together, talking to the photography team to create the vision that we wanted to create, getting myself ready. And so that was all basically all weekend, all Monday.

Tuesday, I had my first set of photos and they’re so incredible. I’m going to have to have them on the podcast. This team literally got things out of me that have never been gotten out of me. I just saw things of myself, I’m like, “Wait, what? How did you create this? It was really incredible.” And so now I’m in day two of working with my team 10:00am to 8:00pm, hard, hard work days. I’m coaching all of my calls while this is going on. And then tomorrow is my last day of photoshoots.

We’re basically just doing an entire launch in one week. So best, craziest week ever. So I’m super excited with what we’re going to talk about today. I can’t believe I have not done a podcast on this until now. This feels like something that I should have done a podcast on years ago, but really once you hear next week’s episode, there’s always the perfect timing. It happens when it’s always supposed to happen. And so maybe it’s perfect that this is the first time that we’re talking about it.

But today we’re going to talk about revenue tracking and knowing your numbers. So I want to walk you through the story of how we’ve been revenue tracking in 200K Mastermind and why we do it and how it’s valuable for you. And what it does for you as the CEO of your business, how it impacts me as the coach. And those are really the two main reasons we do it, is it’s better for me, as the coach. It helps me maintain the room and work with the room and then it helps you as the CEO. So I’m going to break those down.

But first I want to tell you how this came about because we have been revenue tracking in the 200K Mastermind and I’m going to tell you what we do in a minute, but I want to give you some backstory first. So we have been doing this though since the very first mastermind. So the first time we launched 200K Mastermind was in January of 2019. And we have done two classes a year ever since. I think we’re in our 11th class now.

And we have revenue reported, we used to call it revenue reporting. I’ll tell you why we changed it to revenue tracking, but we have done that for the entirety of the program. And so I want to tell you the inspiration that originally started it because it’s sort of morphed into something way bigger and more exciting than it ever started to be. So when I made my first 200K I went to The Life Coach School Mastermind that they do every year. This was a much smaller mastermind.

The school hadn’t grown to what it is now, so it was a smaller group. And I was one of the highest earners in the room, not the highest earner, but one of them. And what made that year so special is the first mastermind I ever attended was right after I had gotten certified, that very next one. And I had only been in business about six months. So I came having made $20,000 in my business.

And so then a year later, I come back and I’d made $200,000 in my business which is so wild because this is not the reason I created the 25K revenue requirement for 200K. It’s so fascinating when I think back how these things work out. But I had made about 20K and then in one year I went from 20K to 200K in a rolling 12 months. And so I came back and I got an award for being the most improved player, having the most growth from mastermind to mastermind.

And after that mastermind, one of the people I met was Mark Butler who became my CFO of my company and someone who helped me budget and my bookkeeper. So my budgeter, my bookkeeper, my manager of the monies. And so I met Mark and the first thing he said to me is, “You need me.” Mark is the person who taught me that every offer you have is a business and you have to manage every business that you have. And I had a lot of offers at the time and I had a lot of different payment plans.

I remember he came in and started looking at my books and was like, “What’s this $86 payment for? And what’s this $14 payment for?” And I was like, “You said however people can pay me, I let them.” And so he really helped me clean up a lot of the monies in my business. But one of the powerful things that came out of me working with Mark and he was my CFO for several years, three/four years, I can’t remember, but for a long period of time.

And one of the most transformational things that came out of working and having a CFO and just working with him was that we met every month and talked about my numbers. Regardless of what I was selling, how much I was selling, what the numbers were, it didn’t matter if I hadn’t sold a thing between meetings. If I hadn’t launched, if there was no difference in money, we still met and talked about it. And one of the things that happened, and we would talk about the drama that I would have about my numbers.

He is also a certified life coach and so we would really talk through thoughts I was having about my numbers. He offered me a lot of powerful thoughts about my money and my numbers and my revenue and my skill and how well I was doing and how healthy my business was. And I always say this when I’m coaching my clients, I’m like, “I’m not in your body, in your emotions, so I’m going to offer you this.” And that’s kind of what he would do for me is, I’m not in your drama about money.

And I had a lot of shame around the fact that I avoided my numbers for so long. I had a lot of thoughts about what my money situation was. And him coming in from so much experience with working with so many businesses and telling me I was doing a good job, changed my life. Changed how I saw myself in business. Just hearing someone else say, “Whoa, these numbers are good. This is actually great compared to other things or this is typical and you’re very atypical.”

There was so much of even just how he talked about money in such a neutral way really changed everything for me. So what started to happen is, I started to build my self-concept that I am capable of knowing my numbers and managing my mind around what’s coming in, what I believe is coming in, future sales. The expenses going out, the difference, the gap between what’s coming in and what is needed to come in for what’s going out for the business to make sense. And where I’m at with my business goals.

Those were things we talked about every single month. Every single month I put my brain and my awareness on my thoughts about those five things. And one of the things that was really powerful, so we would go through the money that was currently in my business accounts. And we would go through the expenses coming up. There would always be this number at the top of the screen. And it would be green if we had more than enough money to cover all the expenses we imagined coming in, in the next 30 days and it would be red if not.

And he would just say, “The budget is asking for.” That sentence changed my whole life. It’s just so neutral, the budget’s asking for this amount of money. And seeing that number at the end of the session and many times it being red, meaning the budget needs this money, there is a deficit. And that number having lots of zeroes. Sometimes the budget was asking for $240,000 in the next 30 days. And then talking through, “Okay, what are we going to do about that?”

Yours is not going to be at that level. Yours might be the budget’s asking for $23,000 in the next 30 days. And then what I would do is get to work finding the safety, the sufficiency, the capability of coming up with that money, or the belief that it’s done. Or finding okay-ness with the truth that it’s not going to be done in the next 30 days because I don’t have a launch planned. And then tell me what the budget is going to ask for in 60 days if no money comes in because I don’t have a launch planned.

And then having to coach myself on that. Having to expand my capacity to feel the discomfort of going those 60 days without the money coming in. And knowing what the budget might need or what I want that number to be because I would always have a number in mind of, I want this number to be this. And so I was always working towards that. And we were always talking about it. And then I was always taking notes and any thoughts that were offered to me, writing them down and then really deeply coaching myself after each session. And I did that every month for several years.

Now, I used examples of the budget needing this amount and that amount being a negative. But I will tell you on the flip side of that, I have coached so many coaches in my 200K Mastermind and my Two Million Dollar Group on being able to experience having lots of surplus and having lots of surplus being deeply uncomfortable for them. When your brain is deeply uncomfortable with abundance, because you haven’t had it, if you do not address this, your brain’s number one goal is always to find safety and comfort.

So in order to achieve safety and comfort from abundance, it’s going to create lack. So it will have you spending the money as fast as it comes in. In Two Million Dollar Group, we call this happy spending. This could be a whole episode by itself. It’s essentially when you hire someone or you start investing because you can, just in all of the things and buying new wardrobes and second houses and hiring every task out in your business to someone else and up-leveling your programs to over-deliver even more.

And you do this because there’s this feeling of, it may not last, or it’s so fun and exciting to have all this money. And it’s fun and exciting to spend all this money. And so there is even this flipside. So there’s the budget is asking for and then there’s the budget is offering a surplus of this money. And depending on how your brain operates and what your triggers are, either can be very, very uncomfortable.

And especially when it’s the surplus, you want to take measured action with your business surplus and make sure that you keep a business surplus and that the decisions you make are very strategic. And it just doesn’t happen when you don’t stay aware of your numbers and when you don’t stay aware of your mind and body around those numbers, your mind and your emotions. Even if they feel happy, you want to catch your desires to spend it all before it runs out.

And you want to catch any kind of hustle launching because you haven’t cleaned up your brain around the budget asking for x amount of money. And you wanting to just, instead of feel 60 days of discomfort because you don’t have a launch coming up, you’re like, “I’ll just launch every single month and I’ll just keep throwing things and seeing if the spaghetti stays on the wall. So that I don’t have to feel this emotion of being deeply uncomfortable with there’s 60 days between now and my next launch.”

Or if I go 60 days without getting a consult, or I’ve only had four consults in 60 days and they’ve all been no’s. Whatever it is, being able to say, “There’s what’s coming in. There’s what I believe will come in. There’s the expenses going out. There’s the gap in between those of what’s coming in and what’s going out. And there’s where I’m at, what I believe about being on track for my business goals.” And then my body’s response as an emotion and my brain’s response as a thought to those things.

And then they either have me taking measured actions that are consistent with the business I want to have and who I want to be in business, or they’re not. And they’re reactions to those things. And what I see as sort of a constant after coaching thousands of coaches, that is so glaring and such a bright shining red light of danger. I can’t tell you how many times coaches tell me they don’t know what their numbers are.

I ask them, “How much money have you made in the last 12 months? How much money have you made in the last 30 days? How much money have you made in a rolling 12, in the last 12 months? How much have you made the last six months?” Any version of those questions, they just don’t know and they’re like, “I’m not sure.” The other thing that I see a lot is that they don’t know if they’re on track to achieve their goal or not. They just have their head in the sand and they blind themselves to their numbers.

I just want you to think about, is this me, do I have this experience? Many of my students and people that come to me, don’t know if they’re on track to achieve their goal, they have their head in the sand. They blind themselves to their numbers. Or they do know that they’re not on track and they’re avoiding it and trying to make up for it and speeding up and hustling and worrying and throwing spaghetti at the wall to try to make up for that discomfort that they’re resisting or avoiding.

Or if they are on track, they aren’t letting themselves bathe in that success or double down on that success, which there’s so much momentum that can come from you believing I’m on track for my goals. And seeing that measurably and going all in and being like, “Hell, yeah, this is going to be a really good year. I’m giving it everything I’ve got.”

So knowing your numbers, all of our power, every ounce of it, to react and to make change or to double down is in knowing our numbers and managing our emotions and thoughts around our numbers. And deciding what to do next from being informed. So the first most important reason for you to track your revenue on a monthly basis, to know what your numbers are, is what it will create for you, which is what it created for me when I worked with Mark in that time.

And I still continue to do that with different bookkeepers as my business has grown. What it has created is entrepreneurial maturity. And that is being able to know your numbers and emotionally regulate yourself no matter what they are. To powerfully decide how you will think, feel, and react to these numbers. To never say again, “I don’t know”, when your coach or your bookkeeper or your accountant asks you what your numbers are, or a peer that you’re masterminding with and coaching with. Whoever it is, to never again say, “I don’t know.”

And I don’t know, because my belief is I don’t have the emotional capacity to know. That’s typically why we don’t know our numbers is our belief is, I can’t emotionally handle knowing so I would rather not know. I would rather guess or have an idea around or be pretty sure about versus actually having the data and the numbers. It’s easier to think it could be this or it’s about that than here’s the numbers. We have to confront the actual math and our drama around that math when we actually have it.

I think that this skill of entrepreneurial maturity and being able to regulate yourself and your emotions, no matter what the numbers are, is the most important for women in business. For us women, I know, I talk to men too, men listen to my podcast as well. They join my programs as well. We don’t tell you not to join. We love the men in our programs as well. But for women in business, I’ve been thinking so much about my interview last week with Kara Loewentheil.

So many of you have reached out to either me or to Kara to say how powerful that interview was. And I think back to what we talked about, about how there are women alive today who operate businesses and in their lifetime, weren’t allowed to get a credit card without their husband’s consent or couldn’t get a line of credit for their business.

Society, because of those beliefs that created those laws and those rules, society has passed on this belief to women that women are irresponsible with money and not capable of managing money and not good with numbers. And so many of you tell me that, “I’m not good with numbers.” Now, I always joke if you’re in my programs. I always say, “Someone else do the math for me. They don’t pay me to do the math.” Or I’ll say, “I’m terrible at math, someone double check my work.” And that is true, actually true, math was never my strong suit.

And if I don’t use a calculator, it could likely be wrong. However, not being good at numbers and math and the calculations is not the same as knowing your numbers. You don’t need to be smart at math. And you don’t need to be smart with numbers to just know them. I know my numbers at all times. I also know what my thoughts and feelings are around them. I don’t put my head in the sand. I don’t avoid my emotions around my numbers. I also know what my plan is to do with those numbers.

I know what my brain’s saying about those numbers and if it’s not an empowering story, I’m working on another one. If it’s not supporting the actions I want to be taking, I’m working on another story. I’m processing my disappointments and mistakes around money. And I’m doing that regardless of how well I can add and subtract, you can too. So this is the number one reason to track your revenue, regardless of whether you’re in my container or not.

And you don’t have to be crazy about it and be checking every day and obsessing. If you track your revenue once a month consistently over six months, a year, two years, three years, that consistency over time is enough to completely change who you are around money and numbers, once a month for one hour. It’s not that much. It’s really crazy.

You know how sometimes when you want to lose weight and you’re like, “I have to literally stop eating.” That’s my husband’s strategy for losing weight. I’m just going to stop eating. I can’t have any fun. I can’t eat anything. I have to work out 10 times a week. You know how our brain goes to the long list and I have to go to the most extreme version in order to try to change and get a result. This is not that. One hour a month consistently every month on repeat.

My call with Mark at the time was every single month. It was the first Thursday of every month, unless we had to reschedule for some reason. The consistency of that will change your entire relationship with your numbers, with money, the way you think about yourself especially if you are a woman in business. So that’s the number one reason to track your numbers. Getting intimate with your numbers and your mind around your numbers gives you power in your business. It makes you more powerful.

Okay, so the second reason, if you are in my containers, the reason I started doing this. And so there were two reasons for me starting to do this from the very beginning in 200K Mastermind. The first one was, I knew how powerful it was for me to be doing it. It was a transformation for me. I wanted to pass that on to my students. I wanted them, even if they couldn’t afford a fancy bookkeeper or a fancy CFO, if they weren’t in that place in their business, maybe QuickBooks was their bookkeeper.

If you’re not in that place, I wanted my students to have that opportunity to still experience the repetition and the results that come from taking that time to pull your numbers and then to look at your thoughts. Maybe even reach out and get coaching around your thoughts around your numbers. But the second reason that I had my students do it in my mastermind is because when my students revenue track, it helps me as the coach, analyze their results in the container and monitor the progress of the group, which I do on a regular basis 11 rounds in.

So here’s what I want to do. I was thinking about this. Every round I do, I call them container videos, when people join 200K and they’re just videos that I create where I walk people through how to be really successful in the container. And we send them out before the live calls start. And sometimes they’re the same each round, if they feel like they cover where we are. And sometimes I change them up if things are changing.

And I realized this last time I did them as live streams in a Facebook group. And I realized that I had never walked people through what I’m doing when I’m analyzing the numbers. And I realized what a transformation it could be because then I could teach them that they could do that as well. So here we go. I’m going to tell you, I’m going to break down the numbers that our mastermind students track and report, and then how I as the coach use the numbers.

So again, if you are a student of mine, you could start doing this. That I’m doing as well for yourself as an individual, but even if you’re not in the mastermind, you can still do this yourself as the CEO in your business. So here’s what we track and I’m going to give you examples. We track from the very beginning when you apply and this is true for Two Million Dollar Group as well, so 200K or Two Million Dollar Group. When you apply you will tell us what your last 12 months, so the last 12 months of business.

So if you apply in May, which is when our next opening will be, from May to May. So this May to last May, actually it would be May to April I think. See, this is where I’m like, “I’m not the best at math.” But my team gives the dates on the application, here’s what you track. The last 12 months, whatever that is. And then you also report the last six months of revenue. So the last 12 months and the last six months. And people always ask us, “Why do I have to report both numbers?”

This tells me, from the get-go, when you apply, if you are currently in a growth cycle, if you are experiencing growth in the back half of those 12 months or if you are in declining revenue, a declining cycle from the first half of those 12 months. It’s a very different place to be. It does not exclude you from the mastermind. It does tell a story, though. It’s important to know if you are currently experiencing an increase or a decrease over that 12 month period and what you’re seeking from us, how we can help you.

And it tells me as a whole, of all the people who applied that we accepted, how many of those might be coming in on a growth cycle and an incline or on a decline. And because we do have that happen. People think that revenue just never declines because I’ve coached thousands and thousands of coaches and we’ve had, I’m guessing, at least over 1,000 applications for the mastermind, maybe more. I’ve seen all the things. So just knowing that is very useful for us.

Then we have our students track revenue from the moment they start the program, so we track on the first Wednesday of every month. So if you sign up in May, the first Wednesday of June would be your first revenue tracking because sometimes we sign up for programs and there’s a massive shift in transformation. We blow our mind and our self-concept that we applied for a room, that we got accepted into a room. For so many of the investments I’ve made in myself, I’ve seen dramatic shifts in days or weeks after making an investment.

I remember when I was selling one-on-one coaching. So many times I would say yes to my coaching program or a mastermind. And I would sign a client that day and I would be like, “What is this witchcraft?” So we want to know, if you come in and you take something from the member portal, we want to know. We want you to know the moment you start getting your return on your investment. We want to know the moment you see spikes in your revenue. We want you to know what those are.

So you’ll start right away and then after a few months we can start to see, especially with that six month revenue, if there is an increase and by how much. And if we see a big increase, what I’m typically going to do is ask the student what’s working. So many times there are things that are working that are creating a lot of money and coaches are not paying one single iota of attention to them. Because our brains are trained to look at the things that can cause danger, not the things that can cause success. What?

I feel like that’s a quote. Our brains are trained to look for things that cause danger, not things that create success. So one of our students has been in the 200K Mastermind with us now for several rounds. She has become a 200K earner and is working on maintaining 200K. And she recently went back and looked at her rounds each round, which were her highest six months of revenues and the highest percentages of growth. And what she happened to be working on and focusing on in the mastermind during those times.

So we have our students choose one to three biggest things to focus on from the mastermind. We call them the three essentials, for each of the six months to just constrain down and be purposeful with their actions. And so she learned which of those things consistently were bringing her in the most revenue. So, for example, when I focus on PSPR for a six month period, I see a major increase in revenue. Or when I focus on my self-concept and my beliefs and I go really deep with who I’m becoming, I see a revenue increase.

So I like to point these things out as often as possible for students so that they can be tracking this if they’ve not thought of it, “Hey, what’s working for you right now? Let’s highlight this, let’s hyper focus on that. Something good is here.” Alright, so on a monthly basis, our students track, when they track every month, their rolling 12 month revenue. So that’s what they’ve made in the last 12 months, their year to date revenue, their mastermind to date revenue. So how much money they’ve made since they signed up and started working through the 200K process.

And we have them just tell us whether they’ve made their money back or not, whether they’ve made their investment back. We do this last one because it’s so important to show the brain, when I invest money, I get a return. And it’s so important for me. I have my team report to me, how many students have made their investment back and how many haven’t.

And if we have say 10 people who haven’t made their investment back and let’s say we’re four months in, I start doing special calls for them. I’m like “Alright, let’s make this happen.” And that does happen because we have people that come in at 25K. They’ve made 25K in 12 months and they’re trying to increase their revenue by 100% in a six month period. It’s a big ask. And what’s so crazy is how many of them do it. Stay tuned for next week. More on that.

But I like to know, it’s so useful for me. How are we doing as a room? And how can I, as the coach, provide even more help and service outside of all the standard things that are already in place? I’m always thinking about how our students are doing. I am going through the numbers, I’m analyzing. I like to have my finger on the pulse of the room.

So knowing these numbers, the rolling 12, the year to date, the mastermind to date, knowing just those three numbers, I can check for these things. I can check for whether a rolling 12 month is declining compared to where their year to date revenue is. I’m going to give you examples of some of these things, so don’t worry. And just so you know, you don’t need to get into the nitty gritty of these. I’m just giving you ideas of how useful it is, what can be done, what these numbers can tell you. The map always tells a powerful story.

So I’m looking for a rolling 12 month, is it increasing or decreasing compared to their year to date revenue? I can also see how they’re performing in the mastermind based on their mastermind to date numbers compared to their year to date and their rolling 12. And that’s if they start in January or July. So I’m going to give you some examples.

So for example, if you start in January and your mastermind to date, meaning how much money you’ve made since you signed up in the mastermind. Let’s say they’re a new student, they signed up in November, so they start tracking from November. It’s January, their mastermind to date is 60,000, but their year to date is 5,000, and their rolling 12 is 90,000. And they signed up in November. What this tells me is that the majority of the 90,000 was made after they signed up, so they’re having a great round.

Remember, their rolling 12, so what they’ve made in the last 12 months is 90,000. But what they’ve made between November and January is 60. So that would mean that what they had made when they joined was 30,000. That’s how much they had made in that year when they joined, made $30,000 or that was around what their rolling 12 would have been. And then they made 60,000, combining November, December and the three weeks of January.

So that tells me again, they’re having a great round or at least that those numbers show a major increase. So that person I might be like, “Holy crap. This is amazing. Tell me what’s working. What have you been doing differently?” Now, let’s say they’re with us for a July class and their revenue year to date is 50,000 and their rolling 12 is 120,000 and it’s August. So they’re a month and half in.

What I would be seeing there is a decline in revenue, because if their rolling 12 is 120,000, that’s what they’ve made in the last 12 months. Then there should be typically, it doesn’t always mean this, but typically they should be averaging about 60,000 every six months. So if they’re eight months into the year and their year to date is only 50K, it shows me that their revenue is going down. Now, sometimes that means something, and sometimes it doesn’t.

So if I check in, the reasons could be and this has actually happened before. Someone told me when I noticed they were having a decline in revenue, that they intentionally took the summer off to spend with their kids. They knew their revenue would go down. They planned ahead. They felt great about it and they were going to start taking consults back the next week. Great, it’s so amazing. I’m always all for someone taking empowered time off. It might be, I just haven’t done my biggest launch of the year yet.

Students that are at a higher revenue and they’re launching and they’re selling group, sometimes they only do that twice a year. So they might be reporting for four months in a row the same exact revenue and then they report on month five and it’s jumped $200,000 or $100,000. So that could be the explanation. Or this has happened before, they tell me, “I just got a diagnosis and I’m actually really struggling with how to balance clients and my health.”

Or, “I have a family issue happening. I’m just really checked out of my business. I feel overwhelmed. I’m drowning. I can’t figure out how to be there for this family emergency I have and also my business.” And this offers me an opportunity to offer help. Sometimes it’s, I think I raised my prices too soon. I got a ton of no’s and now I’m having so much drama.

Now, in other masterminds, these things might go undetected unless someone asks for coaching. And what I have found in my own experience, but also in coaching thousands of coaches, a lot of times we don’t ask for help when we need it the most.

Or there’s so many coaches and business owners who aren’t tracking their revenue. And they don’t even know something’s going on or something’s wrong or something’s going unplanned until six months into something going very wrong and it’s screaming at them. And then they finally have to pay attention because it’s gotten so bad. So every month consistently looking at this allows you as the CEO and then if you’re in my containers, me as the coach to measurably look at what’s going on for my clients good and bad, everything in between.

Recently in my Two Million Dollar Group I had a student who reported her revenue and we’re one-sixth of the way through the year. And so I did the math and I wrote back and I said, “It looks like you’re on track for”, it was like 800,000 plus. And I said, “Does this sound right to you? Do you agree with this?” And she was like, “Oh my God, I totally agree. And I appreciate you seeing it and acknowledging it and solidifying that truth for me.” That’s so powerful.

Now, what she could have said was, “Actually, I’m not on track at all. It looks like that but I only have this many launches. And so I actually expect to come in at 500K.” And I could be like, “Oh.” It just helps me know what’s happening. It really helps me keep my finger on the pulse of the room and be really actively engaged with the individual, with the room and then help the room and the individual stay engaged with their business as well. And this is how I feel with my business.

I feel actively engaged with my money, actively engaged with my numbers, with where I am with my goal, if I am on track, if I’m not on track, with my plan. Do I think I’m going to catch up? Am I lowering my goals? I feel I know where I am at all times with my numbers. And you don’t need to be born with this. Math doesn’t need to be your strong suit. You don’t need to be amazing with numbers. You just need a desire and a commitment to develop this relationship to your numbers.

And again, this is especially important for women. One of my biggest missions and visions is to help empower women business owners around money, investing and running a company. And this, I feel, is the strongest stance that we can take towards doing that. We can be in any room, we can be engaged in the conversation.

I just coached someone in my Two Million Dollar Group on Facebook ad stats. And she was like, “I want to go into the meeting feeling like I know what I’m doing. I don’t want to be asking them all the time and relying on them to know what’s going on. I want to understand the metrics. I want to understand the numbers.” And I was like, “Great. Every single week that you get them from your Facebook ads person, post them in the group and I will help you. I will help you learn this math.”

Because it’s so fucking important for us as women to believe that we can go to meetings empowered with our numbers, empowered with our stats, empowered with the math and not run away from it. To engage in the conversation, to not hit snooze, to be wide awake, eyes wide open, whatever you want to call it, hyper aware and fully empowered. That’s my little rant, but I feel really strongly about it and I still do this in my company and now we do it on a weekly basis.

I have a new bookkeeper that works solely for my company. It’s a woman. I’ve never had someone working full-time for my company before. I’m very excited. She does my numbers. And we have an updated P&L, profit and loss statement every single week now. Again, you don’t have to do that, but for a business my size, it empowers me. I can look at where we are, our profit and our loss, our profit and our expenses every single week.

She gives it to me in four different viewpoints so I can see it by vendor, by category, by month, by year. I have it broken down in so many different ways. I’m so empowered with my numbers. Again, I just can’t stress it enough, how important it is. So that’s revenue tracking and knowing your numbers. You can do it by yourself. You can do it with a great bookkeeper. You can do it with me and with our masterminds in 200K and Two Million Dollar Group, if you would like that support and this is something that feels really exciting to you.

So I do have a super fun announcement about revenue. And I also told you I would say why we changed the name from revenue reporting to revenue tracking. Originally the emphasis really was on, we would call it reporting as in you’re coming into the Facebook group and you’re reporting the revenue. And so you’re letting everyone know how it’s going. And I realized that that felt like I’m doing this for someone else instead of, I’m doing this for me. I’m tracking my own revenue and I am a revenue tracker. I do this for me. I track things. I know what my numbers are.

And so I really wanted to empower my students to own it to the next level. And with that, this is my super fun announcement. We’ve already announced this to our students and they’re already using it. But as part of the technology upgrades that I’ve been working on behind the scenes to upgrade my company with my new CTO, one of the things that we have done is created a revenue tracker.

This is actual software that you get access to when you are in our 200K Mastermind and our Two Million Dollar Group where you can input in the tracker, your offers. And then every month when we revenue track as a group, you can update those numbers and track your progress over the time that you are with us, whether that’s for six months or if you’re with us for a year or 18 months, however many rounds. If you go from 200K into Two Million Dollar Group, that revenue tracker will go with you. And we rolled it out at the live event.

Students have had so much fun, but it’s showing them so much about their business. And there’s something about the way we visually present it that is so much different than if you’re just getting your numbers from a bookkeeper or you’re seeing them on paper. It really brings them to life and has this visual aid that I have found and my students have talked about it being so, so powerful.

And since we rolled it out, one of the things that we announced on stage is that the students that were in these last rounds, in 200K and Two Million Dollar Group that they got to be sort of the beta test., And they got to give us all kinds of feedback. And any ideas they had, we would sift through those and see what would be really valuable for the group and what wouldn’t. And we’re already working on a 2.0 version.

So one of the things that we’re going to talk about next week as well, we have a really exciting couple of weeks on the podcast for you all. But one of the things that we realized, especially in the 200K Mastermind, that they really want to have access to is the percent of growth, the percent of increase that they’ve had in their numbers in their time during the mastermind. And especially if they’ve been in a couple of rounds, they want to know, what’s the percent of growth that I had from my first round and my second round and my third round? They want to have access to that.

And then in Two Million Dollar Group, one of our students gave us an incredible idea. She said, “I’d really like to see both of my offers side-by-side in different colors, visually where I can see and I want to know which offer is producing me the most money. And I can look at how much time I put into each of the offers and which one’s producing the most money to really strategically help me decide where I put more of my time and energy.” And it was such a good idea.

And it’s something that I’ve been working on in my own business is looking at where I want to spend the majority of my time. And based on the time it takes and the money we make and the people we’re able to help and kind of putting all my energy into the best option, the best performing offer, the most healthy long term offer that supports our visions. I’ll come up with language around that. What we want to decide to call that offer, but the best offer, the most improved offer. And so we thought that was a really brilliant idea. So we’re currently working on that.

Something else that we’re working on is a consult tracker. To be able to track every consult you do and the reason, there are five things that can happen on a consult. And being able to track with every consult what happened. And then see a graph of where you struggle the most on consults. What are the most typical results you get? Do you have an extra-large volume of people who say yes and then don’t pay for example? Is your largest volume, people that say yes and pay?

I’ve gotten a little crazy in a good way with it. And I’m constantly texting my CTO, Patrick, and saying, “Can you do this? And how fast would it be to get this in? And can we do this?” And everyone’s so excited. So the next rounds that we offer of 200K and Two Million Dollar Group, you will get access to this included in your investment for each of the masterminds. And I know so many of you have been asking, “When are you launching? When is the next open enrollment?” And we do finally have those dates.

I have spent the first quarter of this year very deeply taking over my business operations, cleaning things out, cleaning things up, changing things around. I’ve taken over my business management, managing my employees. So I’m just highly engaged and active in the business right now. So I didn’t know how long it was going to take me to kind of really take over the operations and management of my business. So I didn’t want to commit to when I could go back to focus on selling, but we’re here in the craziest, best week ever.

So we are going to be enrolling May 13th, 14th and 15th. Make sure you have those dates on your calendar. And in anticipation of these launches, we’re going to be sending out some really valuable emails for the concepts that I teach in 200K Mastermind and Two Million Dollar Group to our wait lists. So if you want to be on them and get those emails, I’ll give you both locations where you can join.

So if you want to join the 200K Mastermind wait list and get all of the information and all of the emails, all of the value, I’m going to be sending out your way over the next six to eight weeks ish, go to staceyboehman.com/200kmastermind. Many of you have been messaging me and saying, “Hey, I’ve got to get on the Two Million Dollar Group list. I’m hearing amazing things about the room.” It’s staceyboehman.com/twomilliondollargroup.

So staceyboehman.com/200kmastermind or /twomilliondollargroup. And stay tuned because the next two episodes are going, I think, to knock your socks off a little bit. We’ve got some really exciting things to announce that one of them I think is going to be a game changer for the entire industry. And one of them is going to be a game changer for you. So stay tuned. I will see you next week.

Hey, if you are ready to make money as a life coach, I want to invite you to join my 2K for 2K program where you’re going to make your first 2,000 the hardest part and then 200,000 using my proven formula. It’s risk free, you either make your 2K or I give you your 2K back. Just head over to www.staceyboehman.com/2kfor2k. We’ll see you inside.

 

Enjoy the Show?

Recent Episodes

Ep #277: Unbundling

Ep #277: Unbundling

For five years and 11 rounds, the 200k Mastermind has been a simple bundled offer where I packaged all of my intellectual property and live events into one offer. However, the 200k Mastermind is unbundling, and I’m here this week to tell you why and what this means...

Ep #276: Proven Results and the 200K Mastermind Data Study

Ep #276: Proven Results and the 200K Mastermind Data Study

I’ve been teasing you with an exciting upcoming announcement, and I’m finally revealing it on this episode! I’ve never been so excited to record a podcast episode for you, and I can’t wait to tell you why. My team and I have performed a data study of my 200K...

Ep #275: Making a Contribution

Ep #275: Making a Contribution

Next week, I’m announcing a huge contribution that my business will make to the life coaching industry. I believe it will leave an impact far beyond just my business and act as a catalyst for other coaches to do similar work in the future. It got me thinking about...