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6 Steps To Growing Your Coaching Business

How to grow a coaching business.

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6 Steps To Growing Your Coaching Business 

I am a coach. And I’m passionate about helping coaches win.

This article is intended to help you win if you are a coach.

I know that you want to be a confident and successful coach. In order to do that, you need to grow your coaching business. The problem is, you’re not sure how to do it, which makes you feel anxious and question if you have what it takes. 

I believe you don’t have to do this alone. You deserve help from someone who’s been there. 

I understand that you’re doing everything you know how to grow your coaching business, which is why I have an approach that’s has helped me and many other coaches I have shared it with make $250,000 + a year as a coach, versus 1% of all coaches attaining that level on their own.

This article will help you stop being stuck with no growth in your coaching practice. Share it with other coaches, it will help them, too. 

Step 1: It’s Not about You

This isn’t original to me. It’s something one of my mentors taught me in a private coaching session a few years ago.

But I have really taken it to heart, and so have many of the people I have shared it with, and the results have been incredible.

Before I learned about this concept, and began applying it, I have been stuck at the low six figures in income several years in a row. I made more money every year, but not much more, maybe $3000-$5000 a year more.

The main reason was I sucked at asking for the sale. I had great rapport during the conversation with my prospect, and I really understood their problem, and how to help them. But I was focused on myself for the entire time we were together.

And as a result, I was nervous and uncomfortable, and in my head about getting the sale, and not present with the person in front of me and focused on serving them.

My conversion rate was not a high as it should have been. There were lots of people that needed my help, desperately, but I could not close the sale, because I could not get past my fear of what they would think of me.

They picked up on this, and naturally, may were put off by it, without necessarily knowing why, and they did not buy.

This hurt them, because I had the ability to solve their problem, and did not get to make that difference, so they stayed stuck. It hurt me, because I was less able to fulfill my purpose or fill my bank account. And that took away from the sum total of happiness the world.

If this is happening to you, you need to get:

IT’S NOT ABOUT YOU.

IT’S ABOUT THEM.

All of your messaging, all of your marketing, all of your sales efforts need to be about them, your customer, and not about you and your terrific process. They couldn’t care less what you do, or how you do it, until they are clear you understand them and their pain, and have a solution that solves it.  All your messaging should follow this sequence:

  1. Your customer
  2. Their pain
  3. Your understanding of their pain
  4. Your authority as someone who can solve it
  5. Your solution
  6. How great life will be when they solve it, versus how terrible it will be if they don’t 

Step 2: Commit

I have worked with a lot of successful coaches, who have made anywhere form $200,000 to $1 million a year in income.

One thing I learned from working with them is that at some point in our work together, they all became COMMITTED to their success and their specific financial and fulfillment goals.

One coach, for instance, started out making less than $20,000 a year. He was failing at his business, and he was worried he would have to give up his dream of being an independent personal trainer and go back to working at a gym.

He was INTERESTED in making more money, but at the time, he wasn’t COMMITTED to it.

Another loved what he was doing, and he did ok at it, but not well enough to take care of his family at the level he always dreamed of. When I asked him if he wanted to make $1 million, he said “Sure, I would. But how?”

The way he answered that question showed me he was interested, but not committed.

Both these men made a DECISION to COMMIT to their dream, and choke off their excuses.

When I asked them what was the key to them doing this, without hesitation both said it was because I helped them find the belief in themselves that they previously lacked.

That was what gave them the CONFIDENCE to DECIDE and COMMIT.

When it comes to making the next level of income this year, have you been INTERESTED or have you been COMMITTED?

Have you sought to find a mentor and peer group with a proven track record of helping others achieve this, or are you trying to do it alone, just like you did the last several years of your business alone, with no one to help, encourage, and guide you when the going gets tough?

Are you happy with your business income growth so far, or are you stagnating and stuck on a plateau that seems comfortable, but is really sucking your soul inside out?

Are you living a life of purpose and fulfillment, or is your belief being choked out by stagnation and a failure to grow?

Is your dream alive, or is it slowly dying?

Are you INTERESTED or are you COMMITTED?

If you really want your business to grow, commit. 

Now.

Step 3: Resources versus Resourcefulness

11 years ago, I was in the lowest point of my life. My then wife had left me, and I took it so hard that my world fell apart. My income went from $175,000 to $5000 a year. I was devastated and depressed. If not for the grace of God and the help of my family, I would be destitute and living on the street.

Can you relate?

I was at a conference and I saw a man speak. He seemed to be speaking to me. His message made sense to me, and I thought if I had his help, I would be able to turn things around.

At the end of his talk, I approached him and said “I want to hire you.”

“Ok. First you have to pay me. My fee is a minimum $5000 for 5 hours of Coaching.”

His words hit me hard. That was my whole year’s income!

“I don’t have that kind of money right now.”

He looked at me quizzically for a moment, and then gave me the best Coaching I ever got “I had a feeling you would say that. I’m going to do you a favor and give you some powerful Coaching. It’s not about how much resources you have, it’s about how resourceful you can get. If you don’t have the resources, and you want to turn that around, you need to get resourceful. You need to find a way. Otherwise, you’ll say stuck at where you at for a long time.”

Those were hard words to hear. But they were the truth.

I asked him to give me 48 hours.

He agreed.

I got into action. I called two prospects and offered them a hell of a deal if they signed and paid on the spot.

They took the deal.

I paid this coach, and my income went up to 6 figures in 6 months. Let me tell you, this was not going to happen on my own. On my own, my business would have plodded along, and I would have probably been forced to give up my dream and go get a job. Nothing wrong with getting a job, but that wasn’t my dream.

What about you? Are you letting your current resources or lack thereof determine your success, or are you resourceful and finding a way?

Step 4: Decisive versus Dabbler

In the previous Step, I told you the story of how I hired a coach whose fee was equal to my ENTIRE YEAR’s income.

What he taught me helped me earn 20X what I paid him in less than a year.

Be decisive. Don’t be a dabbler.

A dabbler is a professional seminar junkie. It’s someone who always takes the next course. A dabbler is looking for answers in a $20 book, or the next free event. They dabble in a lot of things, but they aren’t decisive, and they take forever to make a decision. They don’t really know what they want, and so they don’t know how to get their, or evaluate whether a program is going to get them there, because for them, there is no there, there. Their pain is real, and massive, but they keep distracting themselves from feeling it with happy talk, the next book, the next seminar, and social media and Netflix binging. They are the ones that MOST internet marketers say you want to NURTURE along, because they ‘might’ someday be ready to buy.

What a crock!

These folks are NEVER going to be ready to buy your big-ticket solution to their major league problem. They are not interested in solving it, they are simply interested in limping along and distracting themselves from the problem. If by chance they do buy, they are not a good for your program, because they are more trouble than they are worth, they won’t do the work and they will complain that you didn’t get them any results.

You want clients who are decisive. You want clients who are clear what their pain is, and are ready to confront it and vanquish it, with your expert help. They are not looking for bandaids, they are looking for solutions.

Are your prospects decisive or dabbling? If they are dabbling, is that because YOU are dabbling? If you want decisive clients, you need to be one! Like attracts like. If you can’t be decisive, you won’t attract decisive clients.

I have a No Dabbler Rule. The first person who adheres to it is me. 

Step 5: Raise Your Rates

It’s amazing to me how many people in our industry undervalue their expertise and their solution and don’t charge enough for it.

Let me give you an example.

I have a client, let’s call him Stephan. He’s a relationship coach, and he works with men whose marriages are in crisis.

He is one of the top Thought Leaders in the world when it comes to helping men deal with this acute problem.

When we started working together, he was struggling to find clients. He had 2-3, and he charged very little to work with them. They were in desperate need of his help, but they weren’t respecting his wisdom, so they didn’t take his coaching, and they went getting the results they said they wanted.

The first thing I coached him to do was to raise his rates. He resisted me — at first.

But I am persistent and relentless, and so he eventually did as I asked. He doubled his rates.

Three amazing things happened.

One, he doubled the number of clients he had, and then doubled that number again, in about 2 weeks.

Two, they started to respect his wisdom and take his coaching, and get better results.

That led to him to being known for knowing how to help men with their marriages in distress to turn that around, which according to the great Matt Church, is the very definition of a Thought Leader. And lo and behold, clients started to SEEK HIM OUT.

And last, but not least, he became a better coach when he charged more.

Why? Because when you get what you should get, you’ll give what you should give. 

When you don’t, you won’t.

And … he’s still undercharging!!!!

Are you charging enough? Are you valuing your offer? Or is something holding you back? Are you afraid prospects will not buy if you charge what you really want to charge?

Step 6: Ask For The Sale!

It’s stunning how many people in our industry do NOT ask for the sale, or do so in a wimpy, wishy-washy way.

If you do NOT have what the great Chris Widener calls a Direct Call To Action, aka asking for the sale, you are never going to make an extra 6 to 7 figures a year. NEVER.

You may be the best at solving a particular client’s problem. You may have the most amazing solution.

But clients are like people you want to date. If you don’t ask them out, someone who does ask them out will go out with them instead of you.

And that person may not have as good a solution as you. They may not be as good a person as you. They may not have their client’s best interests at heart. But they asked for the sale and you didn’t.  

Ask for the freakin’ sale!

What about you? Do you ask for the sale, or do you make excuses and shy away from it? 

We'd love to hear your thoughts about this article. Please take a minute to share them in the comment section by clicking here. Or carry the conversation over on your favorite social network by clicking one of the share buttons below.


Nicky Billou is a serious knife nut! He is one of PolitiCrossing’s roving correspondents, writing about politics, family, culture, and masculinity. He is the #1 International Best Selling Author of the book: Finish Line Thinking™: How to Think and Win Like a Champion, and The Thought Leader’s Journey: A Fable of Life. He is also the host of the #1 podcast in the world on Thought Leadership, The Thought Leader Revolution (www.TheThoughtLeaderRevolution.com), featuring guests such as Chris Widener, Scott Adams, John Maxwell, Seth Godin, Marie Forleo, Barbara Corcoran and Mark Victor Hansen. He is an in-demand and highly inspirational speaker to corporate audiences such as RBC, Lululemon, Royal LePage, and TorStar Media. He is an advisor and confidante to some of the most successful and dynamic entrepreneurs in North America. He is the co-founder of eCircle Academy (www.eCircleAcademy.com) where he runs a yearlong Mastermind & Educational program working with successful Entrepreneurs, Coaches, Consultants, Corporate Trainers, Clinic Owners, Realtors, Mortgage Brokers and other service-based Entrepreneurs, positioning them as authorities in their niche. He is the creator of the Thought Leader/Heart Leader™ Designation.



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Business

Delegation: An Ongoing Phenomena

Failure to delegate effectively often happens because team leader don’t trust the people with whom they’re working

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For most of your career, you’ve read or heard that one of the key approaches to getting things done is to delegate effectively. This presumes that you have others to whom you can delegate. In my contact with more than 950 organizations over the last two and a half decades, I’ve found increasingly that people have fewer resources, a lower budget, and less staff people. If they want to get something done, often they have to do it themselves!

Assuming you have others to whom you can delegate, the first or second time you personally tackle a particular task yields useful information. You learn more about the nature of the task, how long it takes, and whether or not you enjoy doing it.

By the third time, a task of the same ilk as those you’ve handled before often becomes best handled by someone reporting to you. Such tasks could involve updating a database, completing an interim report, or assembling meeting notes.

All that You Can

On the path to getting things done, your quest is to identify all those things that you can possibly delegate to others and then prepare those others so that they have a high probability of succeeding. In the course of your workday there may be only a handful of things that you alone need to do because of your experience, insight or specialized knowledge. Everything else that can be delegated should be.

Some people feel they have to take care of everything themselves and to this day haven’t been able to break the habit of “doing it all.” If this someone is in your seat right now, recognize that as a category of one, you can only get so much done.

Many managers and supervisors fail to delegate effectively because either they don’t fully trust the people with whom they’re working, or they’ve always been get-it-all-done-by-myself types.

Take Time before You Assign

Prior to delegating anything to anyone, take the time to actually prepare your staff for delegation. This would involve assessing an employee’s skills, interests, and needs. You could even ask people what new tasks and responsibilities they would like to assume. You might be surprised at the wide variety of responses you receive. There may be people on your staff right now who can help you with tasks you’ve been dying to hand off to someone but didn’t see how or when you could put them into play.

While you want to delegate to staff people who show enthusiasm, initiative and interest, or have otherwise previously demonstrated the ability to handle and balance several tasks at once, sometimes you have to delegate to someone who has not exhibited any of the above. In that case, delegate on a piece-meal basis.

Ensure that the staff person is able to effectively handle the small task or tasks he’s been assigned and does not feel swamped or overloaded. When the staff person demonstrates competence, you can increase the complexity of assignments and even the frequency with which you delegate.

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Business

Multi-tasking: More Harm than Good

In this day and age, where so much competes for our attention, it is easy to stray!

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I belong to a local health club, and while I was there one day, I saw a woman get on the Stairmaster. I watched as she whipped out an mp3 player and started listening to music. Then, to my surprise, she reached into her gym bag, pulled out a book, and placed it on that ledge to read. I almost asked her if she would like a piece of gum!

Today, when so much competes for our attention, it is easy to stray! More often than we care to pretend, in the office and at home, we invite more than we can handle, and then act as though we didn’t. As individuals, throughout society, we are trained to believe that the ability to multi-task is a great attribute. Unfortunately, that’s a big mistake. Here’s why, and how to avoid multi-tasking in the future.

First Things First

What’s the fastest and easiest way to handle six tasks competing for our attention? Identify the most important task, second most important, third most important, and so on, then tackle the first and finish it all the way, move on to the second and complete it, then move all the way down the list.

Any other way of tackling those items, whether they are tasks for home or work, is simply not as efficient. The catch is, any other way is more psychologically satisfying.  Why?  It’s almost as if juggling projects, switching gears unnecessarily or abruptly, or leaving a job unfinished to start a new project gives you the opportunity to say to other people, “Hey, look at me! Look how involved I am! Look at how busy I am! I’m great at multi-tasking.” A multi-tasker, however, can’t compete with others who tackle their to-do list, one item at a time.

What about doubling up as a procedure for tackling a number of routine items or very simple tasks? You can eat dinner and read a book at the same time. Eating and reading at the same time is relatively harmless.

How about driving and talking on the cell phone at the same time? Driving requires your sharp attention, as does carrying on an intelligent conversation with someone else who is not present; doing both at the same time spreads your attention too thin, with often disastrous results. The same is true for projects you’re working on that require your best thinking.

Tips:
* give yourself 5 to 10 minute intervals to focus on the task at hand
* safe-guard your immediate environment to avoid interruptions
* acknowledge yourself whenever you stick to one task and finish it
* repeat all the above, often, knowing that ‘more often’ is better!

Your Undivided Attention

When you’re working on a new task, brainstorming, engaging in first-time thinking, or doing creative work, it’s vital to offer your complete and undivided attention to that one task before you. To dissipate your attention or otherwise stray means you are not going to do your best work.

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