#60 - Broke to $321,000 in 2 years - Tom Youngs - How to Build a $1M Coaching Business

My guest today is entrepreneur and business coach Tom Youngs. Tom is absolutely crushing it at the moment and I’d highly recommend those of you interested in business, coaching and becoming financially-free to listen (and take notes!).We delve into a range of topics, including his journey from zero to a $70K month in 18 months, the breaking point that pushed him to leave his agency to start his own coaching and consultancy business, and the nuts and bolts of launching his first cohort program. We talked about the power of flywheels vs funnels, how to develop unique thought leadership, and the non-negotiable habits that keep him - and his clients - performing at the highest level.It was an inspiring and insightful chat with someone who pulled himself from rock-bottom finances to serious success. I hope you enjoy it as much as I did.Please check out Tom’s channel and email list via the links below.Fully Timestamped Chapter List00:00:00 Trailer Intro for Tom Youngs00:01:04 Zero to $70K Month: Tom’s Story00:09:14 Breaking Point at the Agency00:11:41 Leaving the Agency & Taking First Client00:13:28 Solopreneur Summit & Twitter Networking00:16:40 Launching First Cohort for $39500:18:32 Side Job at Paperboy Studios to Pay Rent00:19:58 Creator Launch 00:22:21 Developing Unique Thought Leadership00:26:26 $321K in Four Months00:28:24 Shame, Financial Rock Bottom & Drinking to Cope00:33:18 Satisfaction, Happiness & Gratitude00:36:59 Spirituality, Praying & Psycho-Cybernetics00:42:39 The Three Books Tom Recommends Clients00:46:46 Importance of Environment & Building a Studio00:51:37 Travel vs Stability for Content Creation00:52:52 Accountability, Focus & Leverage Tasks00:55:31 Goal Systems & No Phone Until Task Done01:00:11 Two Hours Deep Work Per Day01:01:10 Avoiding Goals You Don’t Want01:04:04 Q1 Project Breakdown & CRM Goals01:06:43 Funnels vs Flywheels Explained01:10:27 Flywheels vs Retargeting Funnels01:12:21 Google’s 7-11-4 Rule & Flywheel Design01:13:00 Tom’s Tech Stack01:15:17 Are Business Coaches Distrusted?01:17:43 Empowering Clients01:21:28 Tom’s Six Non-Negotiable Daily Habits01:27:05 Weekly Client Check-in: Self-Rating System01:28:58 Outro ***LINKS***Tom’s YouTube:https://bit.ly/4cix93GTom’s Instagram:https://bit.ly/3FVXgBsMY STUFF:Awaken Out Of Context Podcast (YouTube & Podcast Links):https://bit.ly/3tk8FVvFollow Me On Instagram (@awakenoutofjason):https://bit.ly/3RAkKQj#businesspodcast #coachingbusiness #money

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