Blog

The Evolutionary Scale of an Entrepreneur: Where You Really Are, and How to Step Up to the Next Rung on the Ladder! Part 2

by: Melinda Cohan, Jul 20th, 2016

Note: This is the second article in a 5-part series designed to guide you in aligning your business mindset, actions, and goals, and therefore supercharging your productivity and success. If you missed Part 1, you can read it here: Part 1 (part 3, part 4, part 5)

No matter how you envision your “success” you can follow specific steps to climb the ladder rungs of the Evolution of the Entrepreneur.

As promised, this week I’m outlining the 4 rungs of this ladder, and how to move from one to the next, so you can run your business AND live your life with the success and freedom for which you work so hard! (There is a fifth rung, Shareholder, but we’re not covering that, here, since the vast majority of coaches work their way up to the fourth rung, CEO, and stop there – this allows them to still participate in their favorite activities while their team members take care of everything else. On the other hand, a Shareholder usually views their business as an investment, and doesn’t work in it or on it at all.)

For each rung—Technician, Hobbyist, Business Owner, and CEO—I’ll list mindset (outlook), self-identifiers (this is how you’d introduce yourself at a networking meeting), common thoughts, biggest commitments, biggest fears, and driving motivations.

As you read through them, you can begin to identify where you really are in your own evolution. (After all, you have to have absolute clarity as to where you are now, so you can identify your current mindset and actions and ensure they align with the mindset and action of the rung where you want to be.)

Here we go!

TECHNICIAN. The simplest way to define a technician is someone who is getting paid to do the work she loves. In Part 1, I defined a technician as someone who is inherently gifted at something, and who may even consider this a calling. When she is doing “that thing,” she dips into the ‘zone of genius.’

Most technicians stay in a job, working for someone else, getting paid as much as they can for what they do.

Mindset:“Just let me do what I love, what I’m really good at … so I don’t have to worry about anything else.”

Self-identifiers: “I’m a do-er and have extreme focus on the task at hand.” (In this case, that task is coaching.)

Common Thoughts:

  • “I just want to {coach} my clients.” (NOTE: “coach” can be replaced here with whatever service you provide.)
  • “I can’t believe people pay me to do this {coaching}! I love it so much, I’d do it for free!”

Biggest Commitments: Safety and steady cash flow.

Biggest Fear(s): Having to get a job doing work she hates just to make money and take care of responsibilities. At the core, we can further define this as sacrificing happiness to take care of responsibilities.

Driving Motivations and Desire(s):

  • To find a great job making great money doing “that thing,” while creating a decent lifestyle around it (again, safety is at the core).
  • Financial security.

 

HOBBYIST. A hobbyist is often exploring her talents in her off-time, working for fun beyond that 9-5 J-O- B. She almost can’t believe she’s getting paid to have so much fun! That’s pretty much where it stops – FUN!

Mindset: “It’s safe to explore my talents as a {coach} in my off hours, and people payme to do this! They pay ME! I don’t have to work for another company to do this!”

Self-identifiers: “Right now, I’m just dabbling in the world of coaching. I fit this gift or calling of mine into my existing world—which means my real job, my family, and other responsibilities take priority. Still, I love getting paid for doing work I love, and this brings me great joy.”

Common Thoughts:

  • “If I can help someone, great! If not, that’s okay too.”
  • “I have a job that makes me decent money, and I’m stable while I also get to
  • “I love helping people and making an impact.”
  • “I wonder if I could do this full time as my only job and sole source of income?”
  • “I hate marketing and don’t like sales; I just want to coach.” enjoy the fun of doing this work that I love and that lights me up.”

Biggest Commitment: Safety.

Biggest Fears: The hobbyist is afraid she won’t get to pursue her calling and greater purpose because of her job, her family, and other responsibilities – at the core, she is afraid that she has to sacrifice her professional happiness and fulfillment to take care of responsibilities. She loathes marketing and sales, and hates the thought of feeling like a pushy salesman. She’s afraid she’ll run out of time, energy, money, and/or passion before she realizes her dream, or of having to get a “real” job if she fails at her passion. As a result of these fears, she often ends up stuck between being a Technician and fully going for it as a Business Owner.

Driving Motivations/Desires:

  • Actually making money doing the work she loves while making – and witnessing – the difference and impact she has on people’s lives. (At the core: being of service to others.)
  • Financial survival: because it’s “safer” financially, she maintains “real” job so she’s sure to pay the bills, and coaches on the side.

 

BUSINESS OWNER. A business owner does the work of the technician while taking consistent action to overcome the fears of the hobbyist. In other words, she gets to work in her genius zone while finding ways to make great money AND a big impact, doing what she loves.

Mindset: “I’m creating a well-oiled business machine that generates consistent results in terms of clients and cash flow, so I can do the work I love while getting paid for it AND making a big impact.”

Self-identifiers: “I have a nice lifestyle business doing the work I love while making great money and working with amazing clients!”

Common Thoughts:

  • “I feel like I have a ‘real’ business.”
  • “It’ll take too much time to delegate tasks. Besides, I can do it more quickly … I’ll just do it myself.”
  • “If it’s got to be, it’s up to me.”
  • “There’s not enough time in the day to do everything that needs to be done.”
  • “I can’t believe I get paid this much to do work I love doing!”

Biggest Commitments: Steady cashflow and scaling the business.

Biggest Fears: The business owner is afraid that in order to grow her business, she’ll have to work long hours, which will take away from her family and other important things in her life. She fears burnout as a result of doing everything herself, and wonders whether she’ll overcome her fear of marketing and sales. She doesn’t know whether she has what it takes to “do this” consistently, and isn’t sure whether she’ll be able to pay herself what she wants to make.

Driving Motivations/desires:

  • Accomplishing more while doing less.
  • Working smarter, not harder.
  • Creating a “lifestyle” business that keeps her in the lifestyle she’s become accustomed to or desires.
  • Consistent cash flow and financial stability.

 

CEO. The CEO is all about scaling her business so she can work less, earn more, and make a huge impact in the lives of her clients and her team members.

Mindset: “I will inspire my team so it becomes their passion to fulfill my passion.”

Self-identifiers: “As a visionary leader, I’m a source of inspiration.”

Common Thoughts:

  • “What people, resources and technologies do we need in place in order to reach our goals?”
  • “Is this the right direction for the business?”
  • “In what other ways can we scale?”
  • “I can’t believe that other people’s passion is to help me fulfill my vision!”

Biggest Commitment: Creating a well-oiled machine that runs better without her.

Biggest Fears: The CEO worries about whether she and her team members have what it takes to implement the goals she has for her business while providing exquisite support and delivery in effortless, fun ways … or, whether they’ll kill themselves trying to implement everything! She wonders if the decisions she’s made, the risks she’s taking, and the direction she’s going will turn out to be wrong, and cause the business to close down. She worries about being able to pay her team members and herself.

Driving Motivations/Desires:

  • Scalability.
  • Wealth.
  • Creating an inspiring culture that helps people be their best.
  • The tantalizing questions: Can I really do this? Can I create a team that handles everything and that runs better without me?

 

SHAREHOLDER. As we mentioned earlier, a Shareholder usually views her business as an investment, and steps away from the running of it. The vast majority of coaches don’t become Shareholders; they still want to be involved, especially with the activities they enjoy.


Whew!

So … now that you know more about each rung of the ladder of the Evolution of the Entrepreneur, which rung are you actually on?

So often when I talk to start up coaches, their goals are in alignment of that with a Business Owner.

However, their actions and mindset are in alignment with that of a Technician or a Hobbyist. This disconnect keeps them stuck. It’s like a vicious tug of war!

On the one hand, they still desire the financial safety of being a technician where someone else pays them to do a job, or that of a hobbyist where they have the freedom of maintaining a full-time job while enjoying coaching.

On the other hand, at the heart-and- soul level, they know the only work they want to do is that which fulfills their higher purpose.

They have just enough courage to step out of the safety zone to go for it—pursue their calling—because their heart is speaking so loudly. Yet they move forward into business ownership while keeping the mindset of the hobbyist.

Here’s the thing:

As a coach, you simply have to do the work that comes naturally to you—your zone of genius. As a business owner, you have to not only do the work of the technician, but you also have to think about and plan for all those pesky (but necessary!) business details. You have to attract, engage, convert, and serve clients, get paid by them AND get referrals from them.

Being a business owner is no joke! But when you adopt the mindset of a business owner and have that outlook, things become much easier.

Alignment of your mindset, words, actions and goals creates an internal shift, and you become more committed than ever to doing whatever it takes to succeed.

Stay tuned to your inbox for next week’s article, in which I dive deeper into the Hobbyist vs. Business owner discussion, to help you understand the distinction and identify where you are (and, if it’s not where you want to be, how to reach your goals).

Meanwhile, if you want to pinpoint critical issues and identify steps you can take NOW to feel more confident about setting up and succeeding with your coaching business, take our free Business Confidence Quiz now.

The quiz delves into the 5 critical keys to a successful coaching business: attract, convert, engage, support, and refer, and when you complete it, you’ll receive personalized tips to help you become super-confident, organized, and professional in your coaching business. It takes just a few minutes, and it’s free. Take the Quiz here, now.

 

Posted in: Uncategorized

Leave a Comment: (2) →

The Evolutionary Scale of an Entrepreneur: Where You Think You Are Versus Where You Really Are

by: Melinda Cohan, Jul 7th, 2016

Note: This is the first article in a 5-part series designed to guide you in aligning your business mindset, actions, and goals, and therefore supercharging your productivity and success. (episode 2, episode 3, episode 4, episode 5)

Do you remember the first time someone referred to you as an entrepreneur?

I’ll never forget the first time someone called me that. It was like a badge of honor—one I didn’t deserve.

I didn’t consider myself an entrepreneur; I was a coach. I thought: An entrepreneur is someone who takes big risks, does their own thing and is SUPER smart and savvy. I don’t know anything about business! I’m not business savvy. Sure, I’m a good manager and great at the work I do, but to own my own business? No way!

After all, at that point in my life, I had been fired from my job and had decided to turn what was then a fun hobby—coaching—into something that could support me financially.  And that was exactly how I thought of it: coaching was something I was really good at and loved doing; I consider it my higher purpose, even – and I also got paid for it. (Which of course, is just awesome, right?)

The thing is, I was a “technician” (or as some would call it, a “practitioner”), getting paid to do something I was good at – and something I loved.

That’s a FAR cry from being an entrepreneur.

For me, the technician mindset was all well and good, until someone else saw me as an entrepreneur… and that was the spark that allowed me to begin to see myself as one, as well. That’s when things really changed for me. In fact, that’s when I was able to achieve rapid growth and success with my coaching.

What does this mean for you?

If you’re in the “I’m a coach,” mindset, you may set goals and intentions as a business owner, but you still take action as a coach – as a technician.

Therefore, you don’t grow your business as effectively as you could.

If you can get into the business owner mindset, your actions will align with it, and you’ll supercharge your productivity and success.

That said, let’s talk now about the evolution of the entrepreneur.

Imagine, for a moment, a ladder.

The Evolution of the Entrepreneur starts at the Technician Rung.

The next rungs are Hobbyist, Business Owner, CEO, and Shareholder.

I want to ask you to take a moment right now to decide which of those rungs you are currently on, in your business.

Don’t think about your answer too long—just throw it out there.

Now, I’d like to invite you to answer a few questions to help you determine which rung you’re really on. 🙂

Then, in my next article, I’ll outline the specific characteristics of each rung, and how to move from one to the next, so you can run your business AND live your life with the success and freedom for which you work so hard.


 

The Quiz:

  1. When someone asks you “what do you do?” how do you respond?
    1. “I’m a coach”
    2. “I help people” (or some extended variation of this)
    3. “I own my own business where I coach people”
    4. “Through my products and services I help people accomplish XYZ”
    5. “I’m invested in businesses”
  2. When it comes to being an entrepreneur, what are your biggest fears?
    1. “Will I have to get a j-o-b so I can make enough money?”
    2. “Will I hire the right people?”
    3. “Will I be able to scale my business and leverage my full team?”
    4. “Can my team members and Directors really do as well as me, and take care of this business as if it were their own?”
    5. “Will this bring me my expected return on investment?”
  3. When it comes to being an entrepreneur, what are your greatest desires?
    1. getting paid to do something I love
    2. helping clients, making money, and having a big impact
    3. working smarter, not harder
    4. leveraging a team to scale the business so it runs without me
    5. creating consistent passive income
  4. When it comes to marketing, which is the most accurate?
    1. You get furious when someone tells you to pick a niche.
    2. You dabble in different approaches, rather than having a consistent strategy for bringing in a steady stream of clients.
    3. Your marketing is effective and you see a steady stream of clients and cash flow as a result of your efforts.
    4. You have multiple marketing strategies in place, and they’re all generating steady streams of clients.
    5. You’re researching vertical markets you can serve.

 

The Analysis:

If your answers are mostly A’s: you’re operating from the mindset of a Technician.

If your answers are mostly B’s: you’re operating from the mindset of a Hobbyist.

If your answers are mostly C’s: you’re operating from the mindset of a Business Owner.

If your answers are mostly D’s: you’re in the mindset of a CEO.

If your answers are mostly E’s: you’re in the mindset of a Shareholder (if this is you, congratulations!).

Why congratulations?

You’ll have to wait for next week’s article … 😉

Stay tuned to your inbox for Part 2 of this article series, in which I outline the characteristics of each Rung, and provide you with specific steps for moving right on UP the ladder … from Technician to Shareholder.

Posted in: Professional Development

Leave a Comment: (2) →

The #1 Motivator of Successful People, And Why You DON’T Want It…

What is the #1 motivator for most people who strive for and even achieve success?

It may surprise you…

I’ve met and coached a lot of people over the years in my journey to success and abundance and I’ve come learn that there is true success, and then there is something that I call ‘apparent’ success. And the one thing that differentiates the truly successful from the ‘apparently’ successful, is their underlying motivation.

There are lots of people who are striving and working hard to support their families, to advance in their careers, to climb the corporate ladder, or to run their own businesses who are NOT doing it because they really LIKE what they do, but because they place a high value on SECURITY. Because they want to provide for their themselves, their families, their future, and they are afraid of what might go wrong if they don’t work really hard.

Often they sacrifice their time, their health, and even relationships with the very family they are seeking to provide for, in order to create a freedom that will arrive ‘someday’. That ‘someday’ is always in the future, dangling in front of them like a carrot that is always out of reach… it’s not here and it’s not now. In the here and now, they have trouble enjoying their lives, because they are always hustling, always chasing, always stressed out, and living for that ‘someday’ when they can slow down and really enjoy their lives.

When you dig into this, what they are motivated by is FEAR.

Fear can be very motivating! And in a lot of ways that can have its usefulness. You can get a LOT done in the fear mode. You can qualifications in fear mode. You can get a job in fear mode. You can get a mortgage in fear mode. You can even get ‘apparent’ success in fear mode.

And it’s not surprising that so many of us are living in this state of fear. We may not even realize we are in it…

Every single day we are bombarded with messages designed to stoke our fears about security, scarcity, wars and conflict that increase our sense that there is ‘not enough’…we are bombarded with messages that we need to be better, smarter, more educated, fitter, thinner, whatever, in order to be OK (because somehow we are also ‘not enough’)… and then we are encouraged to appease and cover over our resulting anxiety and insecurities with material ‘stuff’… by buying something, eating something, drinking something, or distracting ourselves with TV, video games, social media etc.

It’s a vicious cycle of fear, followed by destructive and unhealthy numbing of that fear, followed by anxiety, health problems, and even depression.

The thing is, there’s a REALLY high price to having the ‘fear’ switch in our brains stuck in the ‘on’ position all the time. It keeps our adrenal glands pumping non-stop and leads to all kinds of stress-related conditions like muscle tension, headaches, and even excessive weight gain especially around the abdomen.

It can also lead to poor ‘knee-jerk reaction’ type decision making, leading to situations where even though we are crazy busy, we’re just spinning our wheels and not making much progress towards our dreams.

So fear is really one of those things that’s most useful in ‘fight or flight’ type crisis situations – when it can really save our butts – but not so great as a constant motivator in our lives.

It can be tough to break out of the fear mode once we’re in it, though, because it can be self-perpetuating.

If you’re feeling stuck in such a vicious cycle, trust me you’re not alone.

When we are stuck in this fear and consumption mode 24/7, it makes it hard for us to enjoy life’s simple pleasures. It really can hamper our ability to feel simple joy, happiness and peace in our lives.

It begs the question: Is there a better way?

What is real success and abundance, free from fear? What does it look like in practice? How do we choose it? And how can we all collectively change our mindset and choose a better way for the future of our planet?

Well, three years ago some friends of mine decided to start a journey to answer these questions. They wanted to challenge fear-based thinking and to foster a belief that true joy, abundance and happiness is available to everyone. They interviewed 17 different thought leaders from around the world and asked them how people can make the shift from fear to joy, from scarcity to abundance… and they made a film about what they found out, called The Abundance Code.

Click here to watch the full 90 minute film for FREE

This film is so inspiring, that I want to share it with you…

There are so many amazing people in the film!

  • NY Times Best-selling Authors like John Assaraf, Jeff Walker, Roger Hamilton and Bill O’Hanlon.
  • Mindset and Psychology Experts like Dr John Demartini, Dr Sherry Buffington, Dr Ruth Buczynski, Tim & Kris Hallbom, and Julie Ann Cairns.
  • Motivation and Happiness Experts like Dr Robert Holden, JB Glossinger PhD, and Satyen Raja.
  • Visionaries and Entrepreneurs like Sonia Simone, Victoria Labalme and Jon Gabriel.

If you’re like me, and you’re always looking for ways to enhance and create a life of fulfillment, joy and abundance… then you simply HAVE to check this out.

The Abundance Code film is launching 21st June, 2016. And for a limited window of 10 days you can watch it for FREE. The 3 minute trailer for this film has just been released and you can watch it NOW, and see for yourself why I’m so excited to be part of it.

Click here to watch The Abundance Code 3 minute trailer

This amazing and eye-opening film is launching to the world on June 21st with a 10 Day FREE Worldwide Online Premiere Screening. You will want to see it!

Click here to Sign up for the FREE Online Premiere

P.S. Go ahead and forward this email to anyone who you believe will benefit from it too…

Posted in: Professional Development

Leave a Comment: (0) →

Get Your Prospects from Pain Island to Pleasure Island: Stop Selling the Boat

When someone—a potential client or referral partner—asks you what you do, are you selling the boat?

We know … right now, you may be thinking, “I’m a coach. I’m not in boat sales. What the heck are you talking about, Melinda?”

Stick with us, here.

You may remember our Pain Island/Pleasure Island diagram, which shows your ideal client’s Pain Island—his or her top 3 challenges, and his or her Pleasure Island—the top 3 desired results.

Screen Shot 2016-04-19 at 8.16.31 AM

 

 

Your boat—the packages, programs, and services you provide—is what gets your ideal clients from their Pain Island to their Pleasure Island.

So here’s the thing:

If you’re at an event or on a call, and someone asks you what you do, you may be making a big mistake with your answer.

That is, you may be explaining your packages, programs, and services (the boat), rather than showcasing the transformation you provide.

So why is that a mistake?

They buy a transformation.

And that’s exactly why we’re writing this today: we want you to stop selling the boat!

When you’re asked “What do you do?”

DON’T (for the love of Pete, DON’T) say: “I’m a coach and I offer several different packages.”

DO: Sell the journey.

Sell the transformation you provide. Sell the trip from Pain Island to Pleasure Island.

That way, you’re inviting people to step into your boat, by focusing on the results your clients will experience when they do.

This goes back to what we talked about with regard to your niche in a previous blog post: that is, you must identify the group of people you’re passionate about helping, and then identify the challenge they most want to overcome.

Then, you present yourself as the solution.

Here are some examples:

  • A tennis coach who works with tennis players who want to serve better and win games might say, “I help tennis players improve their serves so they can stop losing games.”
  • A specialty dog trainer might say, “I help dog owners train their dogs effectively so they can live in harmony with their furry friends.”
  • Here at TCC, we say, “We help start-up coaches systemize their businesses so they can get more clients and make more money.”

Bonus Tip:

Don’t guess!

Great marketing, great enrollment conversations never come from guessing.

It’s important to remember to interview your ideal prospects (or people like them) to uncover the specific words and phrases they use to describe their challenges and the results for which they’re striving, and use those same words or phrases when you sell the journey. If you’re guessing, you won’t get conversions. So, don’t guess. Ask.

As always, we’ll leave you with a few action steps you can take to practice selling the journey rather than the boat.

Action Steps

  1. Identify your ideal client.
  2. Narrow in on 3 specific Pain Island points—3 specific challenges your ideal client is facing and wants to solve … in their own words!
  3. Identify the top 3 Pleasure Island points: that is, specific results your ideal client would like to achieve or experience… in their own words! (Are you seeing a theme here?)
  4. Now, fill in this template: “I help [MY IDEAL CLIENT] achieve [PLEASURE ISLAND POINTS] by stopping [PAIN ISLAND POINTS].”

Voila! You can now answer the “What do you do?” question with confidence, focusing on the outcome and transformation someone will achieve when working with you … rather than focusing on your services. Therefore, you immediately draw prospects in, making them want to know more!

Next steps:

Sign up to receive our complimentary 3-part video training series, “Your Coaching Business Blueprint: Everything You Need To Know To Get Your Business On Track.”

You’ll learn the pattern you may be stuck in, which can sabotage your own efforts to reach your full potential and accomplish your goals, the 3 S’s to your success and why it’s critical to master all 3 (most coaches only master 2), and where your business is leaking money.

Sign up below:

Posted in: Marketing & Promotion, Professional Development

Leave a Comment: (2) →

Your 5-Part Follow-Up Sequence: What to Say to Increase Your Conversions (Part 2 of 2)

If you read last week’s blog post, “The Truth About Follow-Up: Why 5 Is The Magic Number (Part 1 of 2)”, you likely have a new understanding when it comes to why you must follow up with prospects at least 5 times after they’ve signed up to download your free gift.

As we mentioned, just 2-10 percent of prospects become paying clients after the first 4—yes, four!—”touches,” but that number jumps to 80 percent after the fifth contact.

Meanwhile, almost half of entrepreneurs never follow up, and 90 percent give up after the fourth follow-up (which means 90 percent of entrepreneurs are leaving conversions and therefore money on the table).

(If you missed it, just click here now to read it.)

But …

What should you actually say in each of those follow-up contacts, or “touches”?

We thought you might ask. So, today, we’re telling you. J

Here we go:

 

The First Touch: Deliver What You Promised

The first time you follow up with people who sign up to receive your free gift, you should deliver your free gift. Pretty simple, right?

Make this email short and sweet. Congratulate the prospect on taking a step toward reaching her goals or making her transformation, and let her know you’ll check in within a few days, after she’s had the chance to go through the information.

 

The Second Touch: Questions and Answers

In the second follow-up email, share your answers to questions you hear frequently regarding a tip/strategy you offered in your free gift. Give additional information to answer the questions.

Let your prospect know you’ll be checking in again in a few days.

 

The Third Touch: A Heads Up

Think about the common challenges and pitfalls your prospects might face when they start their journey.

Offer this third message as a “heads-up” about some of the more common pitfalls, or the most devastating, or the ones that derail them the fastest … and more importantly, offer specific suggestions for avoiding them.

 

The Fourth Touch: A Powerful Testimonial

Introduce your prospects to your most powerful testimonial. Give real-life evidence of someone who has implemented the information you shared in the free gift … and the transformation he or she experienced as a result.

 

The Fifth Touch: Present the Gap

This is it: remind people of the gap between where they are now and where they want to be.

Outline the path they’re about to follow—where, as a result of them integrating what they learn in your free gift, they experience the results they desire (those points from Pleasure Island on your Pain Island-Pleasure Island Diagram).

Also, outline the alternative path: the one where they choose not to integrate what you share in your free gift, and where they experience the very real costs and disappointments associated with lack of action.

It’s like saying, “You’re not there, yet—don’t get comfortable. You have more to accomplish.”

Then, close it out with a strong Call to Action, asking them to join you for a strategy session. Yes, you have to spell it out—tell them exactly what you want them to do.

That’s It!

The best thing about all of this is that you can automate the entire sequence through a program like The Coaches Console. It’s as close to “set it and forget it” as you can get!

Sounds pretty good, right?

We think so.

Your next steps: sign up to receive our complimentary 3-part video training series, “Your Coaching Business Blueprint: Everything You Need To Know To Get Your Business On Track.”

You’ll learn the pattern you may be stuck in, which can sabotage your own efforts to reach your full potential and accomplish your goals, the 3 S’s to your success and why it’s critical to master all 3 (most coaches only master 2), and where your business is leaking money.

Sign up below:

Posted in: Marketing & Promotion, Professional Development

Leave a Comment: (0) →

The Truth About Follow-Up: Why 5 Is The Magic Number (Part 1 of 2)

Lately, we’ve written a lot about making money in the niche of your choosing, whether that’s tennis players who want to stop losing, or start-up coaches who want to streamline their businesses so they can make a bigger impact while enjoying the perks of business ownership (and anything in between!).

Once you’ve defined your niche and done your research about their main challenges and desired results—all in their own words, of course—you’ll likely offer your leads a free gift that begins to solve one of their main challenges, while opening the door for you to present your coaching programs as the avenue for even more, bigger results.

We could go on and on about the free gift idea. In fact, there’s so much to it that that’s a whole different blog post!

For now, we want to focus on what you do after someone takes you up on your offer—when he or she goes from being a warm lead to an even warmer lead.

You follow up.

Okay—that’s easy, right? You knew that.

But did you know that a single follow-up email or contact is simply not enough to inspire your ideal prospects, your warmer leads, to become clients?

Think about this:

How many times do you follow up with a prospect after that initial contact?

Did you know there’s a scientific formula that outlines the ideal number of follow-up contacts?

That number is 5.

Yes, 5!

Because we believe the numbers show it best, here’s a graphic we developed to illustrate just how important it is to follow up 5 times after someone downloads your free gift:

follow-up

 

 

Do you see what we see?

Only 2 percent of prospects will convert into clients with a single follow-up contact. That number increases to 10 percent by the fourth contact but jumps to 80 percent by the fifth contact.

That’s right: 80 percent of prospects convert to paying clients after the fifth follow-up contact!

Meanwhile, almost half of entrepreneurs never follow up—not even once. And a whopping 90 percent give up after the fourth follow-up.

Which means that 90 percent of entrepreneurs are leaving money on the table because they’re not converting prospects that very well could become their next paying clients.

Here’s where things really get good: we’ve heard from lots of start-up coaches that they feel “pushy” or “salesy” or “sleazy” when they think about following up multiple times after someone downloads their free gift.

After all, if they’re interested, they’ll call, right? Wrong.

This isn’t personal. It’s not pushy.

It’s a buyer’s pattern. Period.

Our goal with this blog post is to help you shift your mindset: to help you realize that following up multiple times is a necessary part of your sales process. If you want to reach more of the people who need you, it’s key that you follow up 5 times.

You know what’s really SUPER-cool about this? Most likely you’ve already met your next paying client … you just haven’t followed up enough to help them see they’re ready to convert!

Most prospects simply don’t convert to buyers until after you’ve contacted them 5 times, and most entrepreneurs give up far too early, leaving money, opportunities, and potential impact on the table.

Now, you may be wondering what you should say in each of your follow-up emails.

Of course, we have you covered. We’ll talk about that in our next blog post, Your 5-Part Follow-Up Sequence: What to Say to Increase Your Conversions (Part 2 of 2). So stay tuned!

Meanwhile, sign up to receive our complimentary 3-part video training series, “Your Coaching Business Blueprint: Everything You Need To Know To Get Your Business On Track.”

 You’ll learn the pattern you may be stuck in, which can sabotage your own efforts to reach your full potential and accomplish your goals, the 3 S’s to your success and why it’s critical to master all 3 (most coaches only master 2), and where your business is leaking money.

 Sign up below

Posted in: Marketing & Promotion, Professional Development

Leave a Comment: (1) →

LOVE IS THE TRUE BLACK

Melinda-CohanMelinda Cohan
Founder and President
Virginia

Kate-Steinbacher

Kate Steinbacher
Founder and Vice President
Virginia

Cosmin-Costin

Cosmin Costin
Chief Technical Officer
Romania

Raluca-Ciuperca

Raluca Ciuperca
Project Manager
Romania

Angee-Words

Angee Robertson
Virtual Assistant / JV Manager
Florida

Ruth-Brown

Ruth Brown
Bookkeeper
Maine

Marius-Chitosca

Marius Chitosca
Customer Support
Romania

Jackie-Cunningham

Jackie Cunningham
Customer Support
Illinois

Adi-Scoarta

Adi Scoarta
Programming
Romania

George-Cheteles

George Cheteles
Programming
Romania

Ana-Markovits

Ana Markovits
Programming
Romania

Click here to return to the newsletter.

Posted in: Uncategorized

Leave a Comment: (1) →

Yes, You CAN Make Money in Your Niche! Our Famous 5-Part Conversation Clarity of Communication, Part 2 of 2

Drumroll, please!

As promised, today we’re going to share our famous 5-Part Connection Conversation for Clarity of Communication; that is, exactly how to answer the Question of All Questions: “So what do you do?” in a way that showcases the transformation you provide.

Last month, we talked about whether it’s possible to make money in your niche, no matter how “quirky” it might be.

We said yes! It sure is—when you:

In February’s newsletter, Clarity of Communication, Part 1 of 2, we explained how to get really clear—crystal clear—about how your ideal prospects or clients describe their challenges or solutions.

Our famous 5-Part Connection Conversation is the next step in clearly communicating how you help those same people overcome the challenges and experience the solutions.

When it comes to networking, the following scenario is incredibly common:

You attend a networking event, and inevitably, you freeze like a deer in headlights when someone sidles up to you, and over fancy hors d’ oeuvres and a glass of champagne (or maybe just soda water) asks you, “So … what do you do?”

Your body goes into high alert, overcome with anxiety or dread, or some combination of the 2.

What if you could respond with confidence, instead?

You can.

One of the biggest mistakes we see coaches make when they answer the “What do you do?” question is to explain WHO they are – as a coach – rather than the transformation they provide.

The second-biggest mistake we see coaches make is that they come up with a clunky, one-sided response, simply answering the question, rather than creating an engaging dialogue.

So what can YOU do to avoid these mistakes, and instead, use networking conversations to communicate your niche and the transformation you provide so that ultimately, you can get more clients and earn more money?

You can use our famous 5-Part Connection Conversation.

This conversation creates an engaging dialogue that is absolutely stellar for networking. It has multiple uses, as well, because you can then apply it to your marketing materials, including opt-in pages, emails, sales pages, enrollment conversations … you name it!

Today, we’re going to share with you the elements of the 5-Part Connection Conversation, so you can begin to experience confidence and results whenever you’re faced with that “dreaded” networking question.

Here we go!

Part 1: Identify the demographic of your ideal client (the TYPE of client you serve – think coach, speaker, author, trainer, etc.).

Part 2: Pinpoint the biggest Pain Island Challenge that keeps your ideal client awake at night (remember to use the specific words and phrases they’d use, which we explored in our February issue).

Part 3: Define the top Pleasure Island Result your ideal client desires (again, you should have these from completing the exercise in our last newsletter).

Part 4: Explain how you currently package your services (for example, one-on-one coaching, group coaching, teleclasses, bootcamp, home study programs, speaking, etc.).

Part 5: Share evidence in the form of a testimonial or success story from one of your ideal clients.

So, now that you have the 5 parts, we’d love for you to go ahead and fill in the details for each.

Here’s an example you can use as a model, to make this Easy Breezy …

“So what do you do?”

The response:

Well, do you know (insert part 1 – the demographic: coaches) who struggle with (insert part 2 – biggest Pain Island challenge: getting clients)? Well, through my (insert part 4 – current services: Private Coaching), I help coaches (insert part 3 – top Pleasure Island result: set up and launch their biz) so they (insert part 3 – top Pleasure Island result: get a steady stream of clients and make more money). In fact, when I worked with (insert part 5 – success story: Suzie), she experienced an 80 percent growth in her business in one year.

Bonus Tip: When you begin with a question, like in the example above, you are asking someone to answer you. This creates engagement – a conversation, rather than a 1-sided response.

Then, the door has been opened, and you can go on to describe the results – the transformation you provide and easily offer your free gift as a way for them to find out more.

Try this new method of conversation at your next networking event, and let us know how it goes!

Remember, these conversations take practice, so keep adjusting until it feels authentic, confident, and effective to you.

This is a powerful start to engaging in confident, effective networking and marketing conversations … and for boosting your business and income … no matter what your niche!

Posted in: Business Operations

Leave a Comment: (0) →

Presenting Bootcamp STAR Graduate – Lori Wayne, Coaching and Consulting – Are you ready for: a financially abundant business and balanced life that you love?

As you well know, this past November, our latest Easy Breezy Coaching Business Bootcamp ended.

We’re proud to present you Lori Wayne, one of our Top 10 students in this past session—the “cum laude” of the bunch who launched her businesses with our support and who is now thriving!

Lori Wayne, Coaching and Consulting – Are you ready for: a financially abundant business and balanced life that you love?

How You Do Money is How You Do Everything – There is a Formula for Creating and Keeping More Money in Your Life

Most People Struggle with Their Relationship with Money, Personally and in Their Businesses.

  1. They want more money to do the things that are important to them, like build a business, send their kids to the best schools, enjoy family holidays, take great vacations, pay off debt, and save for retirement. But they often find themselves at a loss as to how to create and keep more money.
  2. They’re also often uncomfortable talking about money which means if they’re an entrepreneur they hesitate to ask for the sale, apologize for their fees or include too much in their packages. And if they have a job they’ll find themselves contributing more than what they’re compensated for.
  3. Whether they’re an entrepreneur or have a job, it’s common to for people to feel that money is a necessity of life that they don’t feel in control of.

The reason situations like these are a problem is because if you’re not in control of money in your life, then money is controlling you. Or you’re always feeling some kind of stress regarding money and that stress is holding you back from multiplying your income and multiplying how much money you get to keep and spend every month. Another reason situations like these are a problem is because if you’re not valuing yourself or standing in your power with money (undercharging for your services), then you’re not able to live up to your potential, make an impact or live the lifestyle you desire most.

5 Key Areas for Creating and Keeping More Money

There are 5 key areas that make up the formula for creating and keeping more money. We frequently fall into traps in these areas that derail us or that make making and saving money more difficult.

1. Forgiveness

Many of us have all sorts of baggage around money that we need to just get rid of or let go of. This baggage may sound like this:

  • I heard or felt conflict about money when growing up.
  • The people around me don’t always speak positively about money.
  • I feel guilty or shameful about debt.
  • I want to create a new family money legacy for myself and for the people who are important to me!

Feelings like this can unconsciously hold you back from producing consistent income and having a good relationship with money. It is as if you keep hitting your own money glass ceiling when what you desire is to be more financially successful in your life.

2. Boundaries

Setting appropriate boundaries can be difficult, so many of us just ignore them and tolerate a lot of unnecessary stuff.

  • I often feel uncomfortable discussing money, so I just don’t talk about it – with my spouse, with my employer, with my creditors, with my business partners, with customers who owe me money – you get the picture, avoidance gets you nowhere.
  • I have not increased my income over the past year.
  • I often under value what I am worth – give away my time, give away my services.
  • I want to value myself while honoring others, so I make and keep more money!

If these statements resonate with you then you are likely putting the needs and wishes of others first and you probably often feel that money is just something that happens to you, instead of feeling in control of money.

3. Action

  • I often put off paying or managing bills.
  • I would like to save money, but I am not sure how to make this happen.
  • I don’t track my income to the penny every day, for business owners this translates to not knowing if your business is making money and viable.
  • I want simple money systems that allow me to feel confident and in control, and help me create greater income.

If two or more of these statements feel true for you, it may mean you have fallen in to the trap of missing simple systems for handling your money, your bills and maybe even debt payoff. It also means you may be missing out on simple opportunities that would help you get ahead of your bills and create more income.

4. Empowerment

  • I under-charge or am under compensated for my expertise.
  • When I think about making more money it feels overwhelming or that I am just going to have to work harder.
  • I often secretly have doubts about my financial decisions.
  • I want to stand in my power with money and increase my financial self-worth!

A typical trap around empowerment is that you are inwardly not sure how to stand in your value and be compensated highly for your expertise. This is a common trap and breaking free of it creates dramatic, positive improvements.

5. Mindset

  • I know my money mindset impacts my actions around money and other things.
  • I would love a new money mindset but I am not sure what it would be.
  • Many things in my life are going great, I just need a shift regarding money.
  • I want to create a mindset of unlimited opportunities for me to increase my self-worth and my net worth!

If you say yes to two or more of these statements then you know you would benefit from a shift in your mindset. You may just need a fresh perspective to help you see what’s possible for yourself and how to keep yourself focused on where you want to be, instead of where you are right now.

Empowered Money Strategy

If you just continue to do the same old things in your life when it comes to money, you are going to experience the same frustrating results:

  • Under earn, even though you know you are worth so much more.
  • Frequently find yourself short of money, despite trying to make more.
  • Want to achieve a new level of success in your business or career, but something always seems to be preventing you from making significant progress toward your goals.
  • Ongoing stress and frustration around money.

The great news is that you don’t have to keep doing the same things. Instead you can be purposeful about money and develop an empowered money strategy. Here is how you do it.

  • Complete a Money Breakthrough Assessment – you can do this by asking yourself the questions listed above under each of the five areas – forgiveness, boundaries, action, empowerment, and Mindset, or you can access a complimentary electronic version here http://lorirochellewayne.com/money-breakthrough-quiz/. This will give you a snapshot of where you are now.
  • Use the snap shot and hone in on one of the five areas, where you want to take action.
  • Identify one action you can take in the next 24 hours that will help you move forward and make a change in that area.
  • Repeat the process and identify additional action steps that you can take.
  • Get on the path to taking simple actions that put you in control, so you will begin to make and keep more money.

By having clarity about where you currently are in each area (this happens by asking yourself some questions and honestly assessing where you are), you create a snapshot of where you are right now and can use this snapshot to determine actions to propel yourself forward in regards to money. By having clarity and knowing what to do in each of these 5 key areas, you’ll automatically begin to make more money and have more money to spend how you want.

The good news is money is very simple to master, no matter where you’re starting from right now. Once you have a strategy for knowing how to value yourself – and how to take simple actions that put you in control – you’ll begin to make and keep more money. When you have simple money systems in place, you’ll be able to confidently stand in your power with money, with anyone and in any situation. This is how you increase your self-worth AND your net worth!

================

Lori is a certified business and money coach and she is fiercely committed to guiding entrepreneurs, service based business owners, and motivated women to get off the money roller coaster, to stop settling for mediocre business results, and to eliminate self-sabotaging money behaviors, so they can achieve financial freedom, sustain and grow successful businesses, live balanced lives and pursue their goals and dreams.

Website
Facebook

Posted in: EasyBreezy Coaching Business Bootcamp

Leave a Comment: (1) →

Can You Make Money with the Niche You Feel Called to Serve? Yes! (And if you think your niche is the problem, you’re wrong!) Clarity of Communication, Part 1 of 2

Can you believe it’s February, already? No? We can’t either! We’re 2 months into 2016, and we’ve already made some fascinating discoveries about how we can most effectively help YOU reach your coaching and business goals.

A couple of months ago, we sent out a survey, with the intention of really getting to know you. Like, deeply.

One of the questions we asked was “’What are your biggest challenges?” because you know we’re ALL about providing you with solutions.

AAEAAQAAAAAAAAAmAAAAJGZjNDNhODM3LWFhNDktNGUyYS04ZWM4LTAzMGM3MzVkYTAxMQ

 

One topic came up over and over again – how to clarify – and make money in – the niche you feel called to serve.

It seems that many times, when coaches struggle to make money, the first thing they think is that it must be a problem with their chosen niche.

But that’s NOT the problem.

In our experience, and the experience of people we’ve worked with, the biggest factor in your success is clarity.

You need clarity in:

  • Understanding the challenges your ideal clients face, and the solutions to those challenges.
  • The exact words and phrases your ideal clients use to describe their challenges.
  • Communicating clearly how you can help your ideal clients solve their problems!

You see, clarity is key in growing your business, no matter what your niche is.

To prove it, we wanted to share examples of some of our colleagues who are making 6 or 7 figures in really “quirky” niches.

These include one woman who teaches people how to work with their dogs (think agility training, communication, behavioral training).

Another colleague coaches and consults with clients in alternative investing, such as placing ATM machines.

Another is a tennis coach. (That’s right. Tennis. A hobby, for most!)

People are thriving in these specialty niches, which proves that they’ve truly honed in on the pain and pleasure island points of the people they want to serve.

communication cans 2

 Bottom line: it’s all about clarity of communication.

“But what if I live in a rural Illinois town with a population of 2000?”

“But what if my niche is really quirky, like mine? (I knit sweaters from cat hair.)”

“But what if my clients don’t earn lots of money to pay me?”

We hear your “buts.”

And we answer them all the same:

If you gain clarity around your prospects’ challenges, the solutions you present, and then communicate clearly, you can make money in any niche, in a town of any size, serving any type of client.

So, the first step is to articulate the challenges your prospects face, and how their lives would be different if they solved those problems.

7-tips-find-elearning-niche-elearning-freelancer

You see, “niche” is more than a description of a group of people. It’s a set of challenges or needs that group of people experience, and more importantly, that they want resolved. Your products and services help them to overcome those challenges needs.

In order to clarify your niche, you must fully understand the needs.

So let’s revisit one of those quirky niche examples we shared with you. For the tennis coach, the niche isn’t “tennis players.” The niche is tennis players who want to serve better and win games (or, who want to stop losing).

Our niche here at The Coaches Console is not “start up coaches.” Rather, it’s coaches who are struggling to get clients and make money in their business.  We narrow our focus to a select group of people (start-up coaches) experiencing those particular challenges and needs.

To find your niche, you must first define a group of people, and then narrow that group down to a sub-group experiencing a specific challenge or need.

exito-especializacion

 

Get to know these challenges and their solutions, and get to know them well … in your ideal clients’ words, not your own! This is SO important – don’t guess or “take a stab at it,” which is what we see coaches doing over and over again. The more you can dial in to exactly what is keeping your ideal clients up at night, worrying, the better you can communicate with them, and offer your solution to their current pain.

There are 2 powerful ways to get to know how your prospects or ideal clients describe their challenges and solutions: via phone, or via email.

Call 3-5 people, or send a quick email to your current clients. Ask them the following questions:

  1. When you lie awake at night because you’re stressed out and can’t sleep, what words and thoughts run through your head about the biggest challenges you are currently facing in ____ {insert desired area of focus, i.e. business, relationship, health, etc.}?
  2. If you could wave a magic wand, and time and money were of no concern, what are the goals and results that you most desire in ___{insert desired area of focus i.e. business, relationship, health, etc}?

Be sure to write down the precise words they use to describe what they’re facing, and how their lives would be different if they solved these challenges.

two business woman are discussing about a problem at work

In our next newsletter, we’re going to share our famous 5-part conversation for clarity of communication – but you’ve got to have clarity on your ideal clients’ biggest challenges before then! So get busy.

Then, stay tuned to Part 2 of this newsletter next month, in March.

Posted in: Marketing & Promotion

Leave a Comment: (4) →
Page 3 of 12 12345...»