2012 - Inner Firewalking

The One Liner

The following is an excerpt from David’s speech regarding FirstFiftyClients.com.

Now, when I stopped saying “I help people close the gap between where they are and where they want to be” which is accurate, but boring for me, and I started saying “I help women who are not ecstatic in their relationships to get everything they’ve ever wanted in their relationship” then I wanted to get on the phone and tell people about it. And a funny thing happened: when I did, when I got on the phone and I told them that, they could think of names.

When I said “I help people close the gap between where they are and where they want to be’ they went ‘mmmm…okay”, but when I said “women who are not ecstatic in their relationship who are ready to have everything they’ve ever wanted”, they would say “Well, Julie would be great for that, and you could call Betty, and Rhonda, yeah”. So it changed, when I decided I was going to say, (because it changes for me, you know, what I say to people) “I work with people so that when they’re eighty lying on their deathbed they have zero regrets”, I had fun with that. And then people go “Huh? Really? What do you mean?” and I say “Well, if you died tomorrow, what’s one thing you’d regret?” and all of a sudden they know what I do.

Top Advantages of Narrowly Defining Your Niche

The following is an excerpt from the CoachStart Manual.

1) Their challenges get more uniform as you go narrower. Therefore, you can become an expert in their specific issues, instead of a generalist in everything.

2) You can research this particular group to learn more about what they need. And, you can test-market your wares to see what they are buying.

3) In your literature, you can appeal specifically to this group instead of to everyone. So your target market will be attracted to you instead of passing you by.

4) Your material (e.g. newsletter), can be targeted and of value to your target market, instead of a little bit useful to everyone (e.g. newsletter articles).

5) You can work out where they ‘hang out’, (e.g. health magazines), and focus your marketing campaigns.

6) When you want to get paid advertising in YOUR newsletter and on your web site, advertisers will actually be interested because you have a targeted, qualified audience for their product.

7) You achieve more credibility than someone who appears to handle everything.

You can create specific products and services that appeal to this group; e.g., Find your Career Direction form.

Who are Becoming Clients?

The following is an excerpt from the CoachStart Manual.

Clients are generally people:

Wanting to change something in their life
Wanting more of something
Tolerating too much
Wanting to switch careers
Wanting to improve their career
Looking for a bigger goal
Desiring to achieve something faster
Who are bored
Who feel something is missing
Who realize they can be much more successful with outside input.

They include:

Executives
Managers
CEOs
Housewives
Professionals
Creative people
Entrepreneurs
Small Business Owners

Below are some solid statistics from a past ICF client survey. While the data is several years old, the general characteristics are still relevant today, although we might expect a trend towards more lower-income and non-professional clients embracing coaching:

65 of the respondents were male (31%), and 145 were female (69%).

Average age was 45 years, with respondents being within the age range of 24-67 years of age.

Most were employed as professionals.

Education gained: 82% had gained degrees, with one third gaining a Masters degree or higher.

Robert Cornish on Building a Practice

The following is taken from David’s interview with Robert Cornish in 10 Super Coaches.

What was most disheartening for you while building your practice?

I spent a lot of money learning that print advertising is ineffective to market coaching services, and that THE way was personal contact with people in a way that they can experience what you are like.

Public speaking is a good way to do this, and so my block was overcoming for good my fear of public speaking. Having been one who used to stutter this was a big deal. I joined Toastmasters and actively sought and did as many talks about coaching as I could – to service clubs, business networking groups, my church, and any group of people I could speak in front of.

Mentor Monthly #124: Give and Grow Your Business

Announcements/Offers

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After years of hands-on research, including personally mentoring sixty coaches, I’ve compiled everything I know about starting a successful coaching practice in one easy-to-follow manual.

Learn how to set up your business and get clients

http://www.CoachStart.com

And I’m so excited to hear such great feedback:

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– Daniel Midson Short www.lifestylerevolution.com.au

“David, I am really enjoying this Manual! It is clear, practical, comprehensive and inspirational, and it will be a great reference for me as I begin my coaching practice.”

-Carolyn Claiborne sacredgatherings@ earthlink.net

Visit http://www.CoachStart.com

Last Chance to Get Copyrighting Critique

Andy O’Bryan let me know he is retiring from copywriting for the coaching industry. This means you have only one more chance to have Andy look at your website and give you some valuable advice on how to bring in more clients.

He’s doing one final batch of complimentary website critiques, so book yours now:

http://www.andyobryan.com

So if you’re not bringing in enough clients with your website this is the perfect time to have Andy take a look. There’s no charge for this 30-minute one-on-one call, so get on his schedule at this link:

http://www.andyobryan.com

FEATURE: How to Give AND Grow Your Business

Taken from my book ‘Get Paid For Who You Are’

How to Give AND Grow Your Business

Typically, when people think of supporting a cause, they think of donating resources or volunteering time. Some companies let their staff spend half a day a week supporting any cause that they want on paid company time. That’s exciting. And it’s possible to go deeper. You can support a cause in a way that gets you more customers and revenue, by creating a two-way partnership, rather than a one-way relationship.

Ways You Can Help A Cause

1) Donate your product or service
The most basic way to support a cause is to donate your product or services. This product or service can be given to staff members, volunteers, beneficiaries, or even board members.

2) Offer your product or a service as a prize
You can offer your products or services as a prize for a sweepstakes or competition. In fact, why not reach out to 10 to 20 local nonprofit organizations in this way and start building relationships. For example, an accountant might donate 10 free tax returns to a charity raffle or auction.

3) Speak at their events
Is making public speaking appearances one of the things you can or will do? Many nonprofit organizations have conferences, training seminars and conventions. They need speakers to train, inspire, and entertain their members and donors. As Brendon Burchard says, “Who attends fundraisers – influential or non-influential people?” Speaking at fundraisers can put you in front of CEOs and other leaders who could hire you to speak, or buy your company’s product or service.

4) Give a percentage of profits
You could also donate a percentage of your annual profits to a cause. Again, try to do this as a partnership and create an agreement for what they will do in return. You may wish to tell them what your profits were last year and your projected earnings in the next year.

5) Invite your customers to donate
You could say to the nonprofit organization, “It’s not just what I’m going to be donating, but I’ll also be inviting my customers to donate.”

6) Microgiving call
Invite all your customers and newsletter subscribers to join on a conference call designed to raise money for charity. You might have a prominent member of the community or a local celebrity join you as co-host. Discuss an interesting topic, and every 10 minutes invite people to go to the website and donate. Of course, you can also do something like this in person and offer to host physical fundraisers.

How a Cause Can Support You

1) Website and Newsletter
A nonprofit organization can feature you on its website and describe their partnership with you, with a link to your website.

2) Press releases
They could issue press releases. You could tweak the same article that you wrote for their website, newsletter, or print magazine, into a press release for them to distribute. Who’s the media going to pay more attention to – a press release from you, or a press release from them?

3) Direct mail
They could give you exposure via direct mail. Suppose you are launching a CD and you’d like to use it as a fundraiser for them. They could put an ad for the CD in their electronic newsletter and on the home page of their website. And – they could mail out a little flier.

***

Take Action

1) Who would be a great fit for you to team with for a partnership? Share at the blog comments.

2) How large of a percentrage of sales would you share with your partnership? Share at the blog comments.

Judy Feld on Start Up Costs

The following is taken from David’s interview with Judy Feld in 10 Super Coaches.

What did you spend money on in the first 6-12 months? Could it be done for less?

Had the computer. Developed the website myself. Increased phone bill – that’s about it. Office supplies. Also… business cards and stationary. I don’t think it could have been done for less. My time and attention were the valuable commodities.

What did you charge your initial clients?

I think I began at $250 USD per month (in 1995) for three 30-minute telephone sessions. I always have offered a menu of options.

When did you first increase your fee, to what did you increase it, and why?

I have increased my fees about once a year. Supply and demand and expertise.

What advice would you give coaches about charging clients?

Offer a menu of options. People usually opt for the choice in the middle. Be consistent in your pricing. Don’t raise your fees on existing clients. Loyalty and longevity counts. I have clients I have been working with since 1996. We are partners.

Archive

Yearly Archive for 2012

The One Liner

Top Advantages of Narrowly Defining Your Niche

Who are Becoming Clients?

Robert Cornish on Building a Practice

Judy Feld on Start Up Costs