Coaching series: Can Zach get this beginner freelancer (Maia) to a 6-figure income ($8,333/mo) within 6 months?

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

Milestones from today’s episode:

• Maia confirms her business’s profitability and the positive impact of recent staffing and financial management adjustments
• Introduction of detailed financial and client data organization in Notion for improved project profitability tracking
• Plans for a beta group membership model to enhance her coaching offerings, focusing on tangible benefits and scalability

Coaching highlights from today’s episode:

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

Original coaching call recording date: 09/21/2023

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AI-Generated Summary:

• 0:00 – 2:00 — Zach introduces the podcast series aimed at helping Maia reach six figures in freelancing, discussing the focus on profitability and new coaching directions.
• 2:00 – 4:00 — Maia confirms the profitability of her business and the effectiveness of her recent staffing and expense management changes.
• 4:00 – 6:00 — Discussion on the specific profitability margins of Maia’s projects and the detailed organization of her client and financial data in Notion.
• 6:00 – 8:00 — Maia shares her anticipated revenue and the significance of managing expenses, particularly staff 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 invoicing, suggesting improvements for better financial management.
• 10:00 – 12:00 — Zach suggests creating detailed tracking for client projects to manage staff workload efficiently and advocates for a system that measures project costs for better profitability analysis.
• 12:00 – 14:00 — Discussion on the importance of tracking both staff costs and personal time investment in projects to evaluate profitability and make strategic business decisions.
• 14:00 – 16:00 — Maia considers implementing a more detailed analysis of project costs and profitability, including her personal time investment, to enhance her business model.
• 16:00 – 18:00 — Zach emphasizes the potential for significantly increasing net profit by understanding and adjusting project pricing based on actual costs.
• 18:00 – 20:00 — Maia seeks 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.
• 20:00 – 22:00 — Zach shares his experience with different types of coaching clients and the challenge of balancing personal investment with clients treating it like a subscription service.
• 22:00 – 24:00 — 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 outlines her plan for a beta group membership, 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 count and engagement levels.
• 28:00 – 30:00 — Zach advises on managing time and expectations as Maia’s membership model scales, suggesting a three-month trial period to evaluate the project’s viability.
• 30:00 – 32:00 — Maia considers how to integrate her group membership with other offerings, like digital organization courses, to create a more comprehensive client journey.
• 32:00 – 33:56 — Closing of the episode with goals for the upcoming week and promotion of their respective communities and social media platforms.