From the Wisdom Vault…

Many coaches find themselves stuck in a time and money conundrum.

From the Wisdom Vault…

I used to be so anxious when talking to prospective clients. Do you ever feel that way? There was a persistent voice in the back of my mind saying “I need more clients!” It surrounded me with a desperate energy that made attracting clients much more difficult.

Over time I learned that what I convey to prospects in my energy has incredible influence, positively or negatively. Try this powerful six step approach to attract your prospects.

1. Center yourself in confidence.
Close your eyes. Take a few deep breaths and imagine a huge sphere in front of you. What colors or feelings do you associate with confidence and trust? See that sphere filling up with those colors and sensations. Amplify it! Now, take a deep breath and step into that sphere. Feel the confidence and trust fill you and surround you. Take that aliveness with you.

2. Relax every part of your body.
Whether calling your prospect or in front of them, sit back with your energy as if you had your feet up. Resist the impulse to sit on the edge of your chair or lean forward. Smile easily. Let light shine from your eyes.

3. Be more interested than interesting.
Ask open ended questions about the prospect. Get their story. Stay lightly curious. Resist the impulse to perform. Instead, connect using your interest, voice and energy.

5. Value your time and services.
When the timing is right, offer a complimentary consult or session. Set your sample session up for success by telling the prospect your fees and the way you work before you give your free coaching session. It will convey to the prospect your professionalism and they will perceive more value in your consult and in your ongoing services.

6. Let go of attachment to outcome.
As you directly ask the prospect to hire you, also let go of any attachment you might have to whether they hire you or not. Trust that everything is as it should be.

From the Wisdom Vault…

Aren’t there a lot of “firsts” in putting together a successful coaching business? These milestones are moments in time where we cross a gap between unknown and known experience.

Achieving these milestones may require staring down doubt, shifting a mindset, arming yourself with information or new skills, or passing some kind of self-initiation before moving through. Which of these milestones have you passed already? Which are before you now? What new mindset, information or skill will support you on your path?50 Coaching Milestones
1. Choosing a coach training program and enrolling.
2. Practicing coaching skills with anyone.
3. Telling everyone you know that you are a professional coach.
4. Setting up your home office. *
5. Coaching someone you know.
6. Offering a sample session to someone you don’t know. *
8. Telling a prospect your full fees and other terms of your services without flinching before you give a sample session. *
9. Inviting a prospect to hire you. *
10. Committing to one target market and specialty. *
11. Developing an ideal client profile. *
12. Choosing a business name and registering the domain. *
13. Registering your business and getting a tax ID. *
14. Setting up a business checking account and credit card. *
15. Creating a business plan and marketing program. *
16. Creating intake materials. *
17. Setting up filing and bookkeeping systems. *
18. Hiring your own Mentor Coach. *
19. Having someone hire you for your full fee. *
20. Having someone hire you from another region or state. *
21. Having someone hire you from another country.
22. Creating the content for your own website. *
23. Designing your own talk, workshop or teleclass. *
24. Delivering your first public event.
25. Launching your website and ezine. *
26. Writing and sending your first ezine. *
27. Completing your coach training program.
28. Having your first profitable year. *
29. Certifying with the International Coach Federation.
30. Getting your first referral. *
31. Letting go of a client to honor your integrity. *
32. Referring a prospect to another coach who is more appropriate or to a therapist. *
33. Shifting from scarcity to prosperity thinking. *
34. Realizing that you have your first truly ideal client.
35. Realizing that you have developed expertise in your niche.
36. Raising your fees. *
37. Having a publication call you for an interview.
38. Hiring a virtual assistant and other professionals so you can put more time to what you do best. *
39. Giving your first group coaching program. *
40. Designing a product funnel for your target market. *
41. Launching your first fee-based product. *
42. Making your first passive revenue. *
43. Creating a blog for your target market.
44. Your blog is syndicated.
45. Developing your first key-note speaking topic.
46. Being invited to give your key-note for fees.
47. Having your first television or radio appearance.
48. Being invited to be on an expert panel for your target market.
49. Half your clients take a 1 - 2 month break for holidays or finish about the same time and it doesn’t faze you. *
50. Putting significant money into your own company’s 401K, while earning a six-figure income and easily paying your bills/taxes. *

Become a member of Prosperous Coach now and move past the next milestones faster and with more ease!

Rhonda Hess
Founder, Prosperous Coach 

From the Wisdom Vault…

Last week, I wrote about the win/win in setting coaching fees: how if you charge high enough fees to pay yourself well, your prospects will perceive greater value and your clients will invest more deeply in the coaching process.

Now, what’s the best way to collect coaching fees?

When I started my coaching business, I took checks from my clients. Quickly I found myself “chasing the check”, having to remind clients to send in their fees, while faithfully I continued to deliver coaching week after week. It was only forgetfulness on the part of my client, but I noticed that being in that collections role chiseled away at the easy rapport between us.

After a couple bounced checks, I’d had enough. I made two changes that stopped me from being a collection agent forever:

1. I set up a merchant account and collected all my fees by credit card.

2. I set a standard of “no fee - no coaching”.

If you’ve already set up these standards and processes in your coaching business, I commend you for preserving great relationships with your clients.

I’ve been with Practice Pay Solutions, the premier merchant account service for professional coaches, for seven years now. Taking credit cards is so easy! Here is how it works:

1. When they hire me, I have clients fill out a credit authorization form.

2. At the beginning of the month, I charge each client’s credit card on the Internet with a virtual terminal. (Charging by the month instead of by the hour is called a retainer.)

3. An email receipt is sent automatically to both the client and me for our records.

4. The fees are automatically deposited into my business checking account.

That’s it! There’s no invoicing, no depositing and no check chasing necessary. Clients like the convenience and we never have to have the collections conversation.

Rhonda Hess
Founder, Prosperous Coach