Archive for October, 2010

Passions Into Profits…

Are you ready?

I mean really ready?

Because what I’m about to share with you is not for the hobbyist who simply wants to dabble in coaching. Or flirt with the idea of making money doing what they love. If that is you, don’t waste another minute of your time.  Go talk to your friends about the struggles you are having not making any money.

If you are serious about turning your passions into profits, keep reading.

Imagine yourself sitting at your desk and you take a piece of paper and wad it up. Now close your eyes and throw it.  Did you hit your target? Um… how do you know since you didn’t set a target to begin with?  That is often the approach most coaches take in turning their passions into profits. They believe that if they show up and have excellent coaching sessions with their clients that their business will grow…magically. Or at least they hope so. And to a certain degree this can be true.  Often a result of this type of business building is significant peaks and valleys in revenue. One month you might have significant income only to realize the next you don’t.  That is exhausting as a business owner.

As Stephen Covey says, “Let’s begin with the end in mind.”  So you want more clients? You desire to make money doing what you love.  You must know the end result you desire to reach AND you’re client must know the desired result as well. At The Coaches Console, this is what we call the Optimal Coaching Experience.  Most likely your clients do not know the experience of working with a coach. It is new for them or it’s a new experience for them to work with you as their coach. To outline HOW they will experience coaching with you will strengthen their coaching sessions, deepen the know-like-trust factor they have with you and as a result will lead to extended client agreements and more referrals.

Now I’m not talking about how they experience the individual coaching session with you. You are a great coach and you’ve got that area covered. I’m talking about the entire process of working with you as a coach, from the moment they say “Yes, I want you to be my coach” until they have completed their coaching agreement with you and everything in between.

So often we hear new coaches that get a new client have the response of “Oh crap, now what do I do?” The Optimal Coaching Experience answers all of the “Now what?!” questions so you can provide exquisite client support and extend the ripple effect of your skills; turning your passions into profits.

The Optimal Coaching Experience is broken down into 5 segments:

  1. Expectations
  2. The Model of Time
  3. Exquisite Client Support
  4. The System of Money
  5. The Guarantee

Outlining expectations that the coach has of the client AND that the client has of the coach allows each person involved to operate in full transparency.  By setting the expectations in the very beginning of the coaching agreement and operating from truth and authenticity, a space is created for graceful conversations in the event that expectations are not being met by either party; often leading to deeper relationships that turn into longer client agreements.

The model of time conveys the details around appointment scheduling, the logistics of rescheduling, contact in between sessions and what to do in case of emergencies. The model of time creates a model scenario in which the coach is able to fully be present and engaged in the moment. The thing to remember about how we model time for our clients is that it must not only be pleasurable, convenient and easy for our clients but it must also be the same for us as well. If we make a schedule that is super easy for our clients but only creates more work for us behind the scenes, this has gained us no ground. In fact it has put more burdens on us as the business owner managing our business and requires us to spend more of our time managing administrative activities instead of focusing on the clients.

Exquisite client support is about more than just having a powerful coaching session with a client and helping them to create magnificent AHA moments.  Exquisite client support is about how we support our clients before, during, after and even in between the coaching session. This level of service impacts the number of referrals to our business and is a key area that we can begin to have the greatest impact on adding clients to our active client list.

The system of money takes an often difficult and uncomfortable conversation for a coach and turns it into an easy, matter of fact conversation. The system of money outlines how you will ask for the money the client has agreed to pay you as well as the ideal way in which you will receive the money, process it and track it easily in your business. The more we can do to make the money conversation and experience easier in our business and easier for our clients, the easier it is for them to keep saying YES to sign up as our client as well as to say YES to continuing on longer as an existing client.

The Guarantee.  This is often where coaches that we talk to choke up a bit.  When a client is thinking about their pain point(s) in their life and they are listening to why and how you can help them get from point A to point B and resolve their pain, one question that is always running through the back of their mind is “What is my risk?”  Alleviate their risk and you make it super easy (and quick) for them to say YES to hire you.

The most effective tool a coach can use to outline and deliver the Optimal Coaching Experience to their clients is through the Coaching Agreement.  Using the tool of The Coaching Agreement addresses the critical information right up front, even before a prospect becomes a client.  Giving a potential client a glimpse at the experience they are about to have with you when they say YES, will help them to resolve the unanswered questions and obstacles that keep them from moving forward.

Using the Coaching Agreement to convey the Optimal Coaching Experience creates a successful experience for your clients on a consistent basis. Clarity and consistency is what allows us to do what we do best with and for our clients in a precise manner that makes sure we (and our clients) know what target we are going to hit. When we know the target, we simply do the same thing again and again and continue to get the same results… turning your passions into profits!

Like I said in the beginning, are you ready?  Are you really serious about getting down to the business of turning your passions into the profits? I’ve given you the “what’s.”  Do you want the “how-to’s” of applying and integrating the Optimal Coaching Experience? Click here. Members of our Business Success Inner Circle are dedicated to their success in coaching more clients and earning more money. Through this community we walk you through the specific how-to’s of applying specific business strategies to generate more clients and earn more money.

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