Erica Powell on How to Attract High-Ticket Luxury Clients

Natalie Borowska: Welcome to Founders Future, a podcast powered by Closers IO, where we explore the journeys of, uh, innovative entrepreneurs and the road ahead for their companies. I'm your host, Natalie Borowska, and in each episode we uncover the stories behind impactful ventures, the challenges faced, the lessons learned, and the strategies fueling future growth. Today I'm thrilled to be joined by Erica Powell, who is the founder of Erica Powell and Company, serving as a luxury business coach, strategist and branding designer. With 25 years in high end sales, she has closed millions in luxury transactions and now equips entrepreneurs in B2B events, homes in. Sorry, excuse me, let me say that again. She has closed millions in, uh, luxury transactions and now equips entrepreneurs in B2B events, home, wellness and lifestyle sectors to land 10k to 100k client contracts through sales coaching, custom branding retreats and summits. I'm so happy to have you on the podcast today.

Erica Powell: Yeah, I'm so excited to be here. Thanks for having me.

Natalie Borowska: So I'm super excited to get into it. I think we're going to have a lovely conversation today and what I like to do at the start of every podcast episode is I like to journey back in time. So take us back to before you started, Erica Powell and co. What were you doing at the time and what motivated you to start your business?

Erica Powell: Well, I'll try to give you the abridged version, but I started in luxury sales. As you know, when I was in college, I started actually selling luxury cars, which is hilarious, and then transitioned into interior design and home consulting. So at a very young age, 18, 19, I was closing, you know, 10 to 100k contracts as well. So I think that's where it all really started. Um, once I finished college I wanted to have my, my own business and so I started in luxury event planning and from there transition into owning a luxury wedding blog and then from there into what I do now. So it was quite a journey. It took quite some time to figure out, you know, what my niche was and what I was meant to do. But that was about nine, ten years ago now that I found this space and I've been here ever since and loving it.

Natalie Borowska: So I love that so much and I love speaking with business owners that, uh, whose first job was sales because I feel like that's the best, I guess, ground to work upon because, uh, a thriving business, the two cornerstones of it is sales and marketing. So I think the best place to really start learn sales. And then you went where you went into the next, next thing Next thing. And then we landed here today. So let's jump into the business today. So who would you say is your ideal customer?

Erica Powell: So we work with any luxury service business owner, so could be anything from people in the event industry. And that's where I started because I was a luxury event planner. So I had a natural network built in. But then from there I realized that our techniques, they work for any luxury service business. So we've expanded into travel services, home real, uh, estate, interior design, home organization, um, obviously working with other coaches like myself. So it really has expanded quite a bit, uh, since we started.

Natalie Borowska: I see. So primarily luxury. And it's great that you have that background in that. And it sounds like the business like naturally, I guess what's the word? I think the business naturally, like I guess why is the word that's coming Evolved. I had upgraded in my mind, but I mean it works 100%. So you just expanded your niche and it's still luxury, which is great. And then so what is like your core offering? What does it look like to work with you specifically?

Erica Powell: Yeah, so we actually have two different core offerings. The first one is called Luxon V, which means luxury in life. And it is our mastermind. So it's for people that are closing good clients, but really want. And let me backtrack and just say the reason why I care about luxury is not just due to the bougie ness of luxury. It's more to do with the majority of service. Entrepreneurs are getting paid far less than they deserve.

Natalie Borowska: So.

Erica Powell: So it doesn't mean that everyone has to be a luxury service business, but it does mean that there has to be profit at every price point that clients are working at. And typically entrepreneurs are undercharging and over delivering in the services space. So that's kind of where it began. So we do focus mostly on, uh, most of our clients three to ten times their pricing, profit, sales and revenue within the first year of working with us.

Natalie Borowska: So.

Erica Powell: So the whole point is to boost profit margins per contract for every single client that people are working with so that they can make more for the same work that they're already doing. So if you think of it that way, typically people are probably charging half to even a third of what they should be charging. But the difference is their positioning, how they're showing up, what their brand looks and feels like, what their client buying experiences, all of those things. So in Luxon vo, we go from start to finish. We look at their total client buying experience from the beginning right through to the closed contract and we make sure that everything is lined up to the highest possible client that they can work with. And that grows and shifts and evolves over time. So we have Luxon V, which is our mastermind. And then I also have private coaching as well. Um, and private coaching is typically surrounding the same topics. People just want more time with me to look over things in great detail.

Natalie Borowska: And with that, uh, what you touched upon is that people charging more, it's not that their product is necessarily better, they're just able to position themselves in the market. So that's so important. And it all comes down to your messaging. So it sounds like that's what you really help with your clients making sure that they're able to convey to the marketplace that they are an expert in their field and they know what they're talking about. So then they can charge those luxury prices. So, yeah, I love that. And so let's dive into the client acquisition side of things. So what are you currently doing in terms of lead generation?

Erica Powell: So for myself, we're typically doing, I do a, uh, bunch of speaking engagements, which is lovely because I love to be out there and meeting people in person and just, I think there's so many coaches out there that there's something lovely about meeting people in person. So that has always been from the beginning, one of my biggest things is just getting out there, speaking, meeting people. Um, um, and then a lot of our clients come through referrals and then obviously organic social media. So those are our three platforms. We don't do any ads right now. We have before. We'll probably start them again at some point soon. But currently we're, we're happy where we're where we are.

Natalie Borowska: So talk to me about like your journey with paid ads. So you've done them before and you're looking to start them again?

Erica Powell: Yeah, so right now we're actually restructuring some of our, our online digital offerings and we're creating new ones because so much has changed in the last few years. So. So we're incorporating a lot of paired AIs with the products that we're creating. And so we're retooling some of those front door pieces that people can get into and get results from immediately. So that's what we're working on right now. And as soon as we're finished with the building, then we'll get back into the ads again.

Natalie Borowska: I see. So just to get some clarity. So is it like a lead magnet that you guys are utilizing or.

Erica Powell: Yeah, I don't like to call It a lead magnet. Honestly, um, I think this is something that I think needs to be changed about the coaching industry quite a bit. Um, and I see a lot of my friends who are doing really well with online and digital offerings and a few of the coaches out there, some that I'm very close to, who I really admire are. We've changed our mindset around this and it's not so much about bringing in leads, it's more about getting our clients results from moment one, because there are so many coaches out there and people have tried working with so many different people. You need to have an offer or something where people can come into your world, see, see what you're about, get a feel for what's different about you, and then ideally get results right away. Because if they can get results from a small, quick, easy masterclass or mini course, then they understand that what is different about your world and how they could get results on a larger scale, 100%.

Natalie Borowska: And lately in the coaching space there is such a trust gap. So really being able to provide that value upfront can really act as like a way to counteract that. So I think that's an excellent way and it's great that you guys are developing some new things to really provide value for the people in your space. And then from that you can see whether they're like a good fit to like invest into your services further down the line. I love that so much. And then so with that, uh, I'm curious about like your sales process. So what does it look like turning a lead into a client?

Erica Powell: Yeah, so the funny thing is, again, everything's shifting. I think you've probably noticed this. And so while we do consultations for our, you know, branding and website design offerings and things that are highly customized and need a custom proposal, when it comes down to coaching, typically people coming into our world and trying some of our online digital offerings, whether it be a quick one hour mini course, it really gives them a taste and a test of what we're about. So just going through that, it should give them enough to know whether we're the right fit for jumping into one of our coaching programs. So typically people go from some kind of starter online digital offering or maybe seeing me speak in person or coming to one of our events to jumping into one of our coaching programs. And one thing that's really unique about our world is that our tip, our typical clients will stay with us for years. So that's something that I love so much about our business and it's why we're not always, you know, working very hard to get new clients is because our clients stay. Um, so we have amazing clients. And what happens is we were talking about evolution before, but typically each year is a point of evolution in our clients life cycle. So when they first come in, the first goal is to close more of those 20, say let's say 10 to 20 to 100k client contracts or commissions. And then from there it's now how do we do this consistently, on repeat all the time. And then from there it's how do we scale this? How do we build passive income through services? How do we build a team so that, you know, you can scale over time and not be stuck at capacity? And then how do we build beyond that? How do we monetize knowledge? Can we build retainer offers that we can have the cash coming in every single month and build recurring monthly revenue? And then how do we build automated income streams from there? So we really do cover quite a bit. And so our clients typically stay with us for many years. And we love that so much because we love the journey of all of it.

Natalie Borowska: And that's just a testament to the product. If people like are uh, staying for that long, it just shows that what you guys say that you fulfill on, you really do because people are staying for so long. And I love that so much. And so what I'm curious about is what is your vision for the next six to 12 months? Like what are your goals, what are your targets? What milestones are you looking to achieve in the coming year?

Erica Powell: Yeah, so, uh, one of our biggest goals right now is we're releasing a few offers that we're very, very excited about. So one is we're retooling priceless clients, which is one of our starter mini courses. So that one is teaching about how to figure out exactly who your priceless client is being. Someone that will pay you fairly for your hard work and someone that you energetically enjoy working with. So, so that mini course will help people to kind of get their foot in the door and see what the big picture plan is for attracting more of those clients and understand really what might be missing in their process right now for working with the clients they love most. Another one we also have coming up is million dollar decisions. And I absolutely love this mini course so much and it talks about the opportunity costs of different decisions that we can make within our business and they both come with their own custom AI. So I'm very excited for both of these coming up. So once we have those rolled out, we Actually have a bunch more, um, sort of complete at your own pace, on demand classes and courses that are coming out in digital products. And then, of course, we still have our coaching programs along the way. Um, so they'll always be there. And then we also have our retreats. So we have a retreat coming up in June, which I'm super excited about.

Natalie Borowska: I'm super excited. Where is it going to be?

Erica Powell: It's going to be there. This next one coming up is at addition Kanai. So it's in Riviera Maya in Playa del Carmen, and it's an absolutely stunning resort, and we're super excited about it. We actually have right in, um, our stories on Instagram. You can see a highlight, and it's us touring the venue. So if anyone wants to check it out, you can.

Natalie Borowska: Awesome. That's so exciting. And then what do you feel like are going to be the biggest challenges to getting your goals in the coming year?

Erica Powell: You know, it's funny. I feel like I've worked through a lot of challenges in the last few years. I've actually ripped apart our business and put it back together several times. Um, that's actually why I have my Phoenix there, because I'm the kind of person that if something's not working, I will just destroy it and start over. So I feel like I have systematically eliminated all of the points that prevent us from scaling. So we're at a really great place now to move forward without any interruption, and I'm really excited for that. Awesome.

Natalie Borowska: Um, super exciting stuff. And then final question before we log out. If you could say one thing to your younger self, what would that one be?

Erica Powell: Okay, so two things. Can I do two? They're quick.

Natalie Borowska: I'll let you.

Erica Powell: I'll be quick about them. So the first one is my favorite quote. It's by Seth Godden, and it's. Instead of wondering when your next vacation is, you ought to build a life that you don't need to escape from. If I could go back in time, I would take that to heart. And I did. But I would have been more obsessed with that than serving clients from the beginning. So I think what happens with a lot of service entrepreneurs is that we're focused on client service, taking care of others, and sometimes taking care of ourselves or our own businesses gets lost on the wayside, or our own priorities kind of get lost. Especially in service businesses. There's a lot of hustle, a lot of burnout. So I think from the beginning, I would have not only heard it and taken it to heart. But I would have worked harder to make it true from moment one. And then the other one is evolution. I've learned that the quickest way to evolve and move forward is to hold on to the things that work for you and let go of the things that don't as fast, fast as humanly possible. And the amount of times that I see entrepreneurs holding on to things that don't work for them for extended periods of time, it just boggles my mind. I'm like, if it doesn't work, let it go and move on and try something else. So failing forward is a big one.

Natalie Borowska: I love that one so much. And yeah, I totally agree. I think as a business owner, it's all about being agile and really also being aware. You need to make sure that you know what is working for your business and what isn't and getting rid of the things that don't work because it's only going to cost cost you money and it can also cost you time. Yep.

Erica Powell: Yeah.

Natalie Borowska: Awesome. M so, yeah. I love that so much. Thank you so much for coming on the podcast today. If our listeners want to find out more about what you do, where ah would be the best place to find out?

Erica Powell: Instagram would be the best place. So, um, Erica Powell Co. Is our handle on Instagram. We have highlights that go through a lot of our experiences. We have links where you can go check things out. And we also have, um, you can DM me at any time if there's something you want more information on. And I will say that our next retreat coming up is going to be incredible. We're working on specifically marketing and messaging. With our retreats, we do a deep dive into one topic. So we're going to be working on marketing and messaging that uh, attracts more 10 to 100k clients. So if anyone's interested in that, we have a couple spaces left. You can just dm, um, me invite and then you'll be able to receive an invitation to learn more about the retreat.

Natalie Borowska: Some super stuff. And thank you so much for coming on the podcast today. It's been such a pleasure.

Erica Powell: Thanks for having me. It's so nice to meet you.

Natalie Borowska: No worries. And if you are a business owner and you're looking to scale your business and you really want to enhance your sales and marketing efforts, visit Closers IO to hop on a call with our team and discover how we went from 0 to 30 million per year in less than. Until then, keep on climbing.