June, 2012 - Inner Firewalking

Anna Dargitz on Charging Clients

The following is taken from David’s interview with Anna Dargitz in 10 Super Coaches.

What advice would you give coaches about charging clients?

Give some of it away knowing that what you give freely comes back tenfold. Give some of it away with the agreement that the client may receive benefit, but they are also giving themselves to the coach so the coach can practice their new skills. And for some, charge what people can afford to pay you, noticing who receives the most from you (your ideal client). Notice who you attract and what it takes to attract your ideal clients.

How did you deal with the coaching/charging friends issue?

After feeling disappointed a few times because of my own unrealistic expectations, I stopped going there! I cross-referred. My coach colleagues sent me their/family and I sent them mine. Always pro bono with the agreement that both coach and client were practicing on each other.

Find What the Client is Comfortable Paying

The following is an excerpt from the CoachStart Manual.

So how do we marry the first two principles? How do we take on as many clients as possible, yet value our services, and get as much revenue as possible?

Simple: Ask the client what they’re happy to pay!

Consider the following role play I might do with a new coach playing the part of a prospective client:

Scenario 1

Client: “How much do you charge?”

Coach: “I charge $300 per month.”

Client: “Well OK – how do we get started?”

Scenario 2

Client: “How much do you charge?”

Coach: “I charge $300 per month.”

Client: “Hmmmm….well I don’t think I can afford that right now, but I appreciate your time.”

Coach: “Well let me ask you, IF price wasn’t an issue for you, would you be interested in working with me on this issue for 2-3 months?”

Client: “Hmmmm… yes – IF price wasn’t an issue, I suppose I would.”

Coach: “OK – since I’m still building my practice, and I want to coach you, I’m happy to make an investment in this. In fact, right now, the money isn’t that important to me. So tell me, what would you feel comfortable paying?”

Client: “Well I suppose $150 would be OK.”

Coach: “Great, if you’re willing to commit to working with me for 3 months on this, I’m willing to take you on at 50% of my fee for that time. At the end of that period, we can revisit it.”

See how it works?

What a Coach Provides – Part 2

The following is an excerpt from the CoachStart Manual.

a) Challenge to expand the thinking process and make bold new decisions.
Someone daring you to go further than you ever have before is also an extremely powerful way to break old habits and forge new boundaries.

b) Direction in times of confusion, opinion and if necessary, advice.
Once again, the power of a fresh set of eyes to interpret a new perspective on a situation is often invaluable during the coaching process.

c) Brainstorming to flesh out new ideas.

d) Acknowledgement and validation
This cannot be stressed enough. The coach who only focuses with the client on what is missing and what needs to be done, deserves to lose the client.

Here are some interesting statistics from a past ICF client survey:

* Role of the Coach: 84% believed that the major role of the coach was as a sounding board, whilst 78% focused on motivational aspects. 56% viewed their coach as a friend, 50% as a mentor. 46% viewed their coach as a business consultant, with 41% as a teacher.

What a Coach Provides – Part 1

The following is an excerpt from the CoachStart Manual.

A coach will provide many things during this process, such as:

a) Access to ideas the client may already hold, but is not yet aware of.
By viewing the situation from a different perspective, the coach is able to lead the client in an exploration of ideas that he/she may not have previously considered.

b) Clarity around what the client actually wants.
What does it look like? In which country? How many? How often? How would you feel?

c) A sounding board for new ideas.
Providing a safe place to suggest new ideas is an essential aspect of the coach’s role, in that this encourages the client to step beyond their current situation, unlocking a world of new, unexplored potential.

d) Support in big decision making.
Encouragement in walking new paths is essential to build the courage to continue beyond the safety of what is known. The coach can help the client grow and develop their own individual strategies and solutions.

Hot Invitation

The following is an excerpt from the CoachStart Manual.

How many times are you at a party, meeting, in an elevator, etc., and someone asks you what you do? This is an excellent opportunity to invite someone to experience coaching with you. However, firstly you must give them a REASON or INCENTIVE to do so. Secondly, you must extend an INVITATION!

A HOT INVITATION is one extended when you are already talking to someone, and coaching comes up (as opposed to a warm invite where you call someone you know to discuss coaching). You’re on the spot — here’s an opportunity to turn a conversation into a trial coaching session.

Biography Building Exercise

The following is an excerpt from the CoachStart Manual.

Exercise

List the Top Ten Reasons someone should hire you. What are your strengths?

List everything you can think of that you have done in your life – including training, experiences, insights, etc. Cross out anything that doesn’t add to your credibility or express who you are. (Suggestion: check with a fellow coach on this to make sure you are not throwing out valuable information that you are blind to.)

Write a half page Bio. Then go through and cut it down to two to three paragraphs that really describe you well.

Search the internet and print off three bios that sound attractive to you (yet don’t rely on hard facts you cannot replicate; e.g., a Doctorate in Psychology). Use these to inspire ideas and rework your bio.

Have a friend who is good with words or marketing, edit it to give you a Bio that sounds great! A great sounding Bio can make an amazing difference to your confidence.

Run your Bio past three friends or colleagues who you would like to coach and that represent your target market. Use their feedback and suggestions to further improve it.

Put your Bio on your web site, and in a handy electronic file where you can easily find it (to insert in an e-mail, or to forward to a prospective client or audience).

Archive

Monthly Archive for June, 2012

Anna Dargitz on Charging Clients

Find What the Client is Comfortable Paying

What a Coach Provides – Part 2

What a Coach Provides – Part 1

Hot Invitation

Biography Building Exercise