From the Wisdom Vault…

Several decades ago in an interview, Tom Watson, the founder of IBM, was asked: To what do you attribute IBM’s phenomenal success? He replied that he started IBM with a picture of how he would act when they’d achieved success. Then, he acted successful from the very beginning. His success strategy began with a winning mindset.

I’ve seen the same strategy in some new coaches. At an ICF Chapter meeting, I spoke to a coach who exhibited in every word she said and the way she showed up that she was highly successful already, yet I found out later she’d only been coaching for weeks! Right next to her was another coach with years of experience, yet she seemed like a very new coach.

Choose Your Attitude

The first coach wasn’t posing or pretending. Her solid presence came from choosing to act successful from the beginning.

There’s a not-so-winning mindset that often comes with the first few months to first few years of being a coach: I am new and therefore I should take any client I can get for any price.

That’s how it was for Susan. . .

Susan finished training over a year ago and has logged over 100 hours coaching, but she still feels new. She has trouble asking fees that will make her enough money to sustain her coaching business. She imagines that her friends, family and even some prospects don’t take her seriously as a professional coach. But the truth is that Susan doesn’t take herself seriously, and she shows that with many of her actions.

Susan is a natural coach and her clients get great value from their work together. But, no matter how much positive feedback or experience she gets, Susan still acts like a novice coach by:

• Taking on less than ideal clients.
• Agreeing to sessions at times she’d rather not work.
• Discounting her fees to get a new client or reducing her terms to less sessions each month to please a current client.
• Setting up barter arrangements with clients whose services she doesn’t really want.
• Giving sample sessions that sometimes last hours or giving away additional sessions if the client doesn’t hire her on the spot.

The discount approach is not paying off for Susan. She’s sending an unintended message: “I’m desperate”. Even though they are not consciously aware of it, prospects pick up her message and it dampens their interest in hiring her.

Scarcity Thinking is Contagious

You may be thinking, “Well, it is better to have any client at a lower fee or for fewer sessions than to have none at all.” Possibly — if what you’re after is experience only. But rarely will those non-ideal/half time/half fee clients become ideal clients and pay your full fee in the future. Nor are they likely to refer others to you.

The same energy that led you to compromise on fees or time may influence them to value the coaching less, to lean on you, and to under-invest in the co-creative process. The result is, you’ll work harder for less money, and your clients’ outcomes may suffer too. It’s a losing game.

Perfection Not Necessary

This is not about pretending to be better than you are. It’s about valuing who you are right now, recognizing all that you’ve already accomplished, and seeing yourself as already successful. Another coach, less competent than Susan, may get more clients and may actually serve them better by perceiving herself as a successful professional and valuing her services accordingly. Positive self-perception is a powerful attractor.

What do successful professionals act like? They consistently:

• Think of themselves as already successful, charging corresponding fees and setting boundaries.
• Highly value their time. Whether it’s coaching hours, marketing hours or other business pursuits, they dedicate their time to achieving their ideal business.
• Only enroll clients that fit their ideal client profile and graciously refer clients who are not the best fit.

Think about it… If you’re already a successful coach, your time is at a premium. New clients happily fit into the time slots you have left because they really want to work with you! They don’t balk at your fees or terms because they perceive that you’re worth it. You can have this effect on prospects just by believing and acting successful right now! 

Are you ready to shift your mindset to one that is successful right now?

Prosperous Coach is dedicated to helping professional coaches discover the thrill of charging what they’re worth and making it big in coaching on their own terms.

Wherever you are right now in your coaching practice, Prosperous Coach is here to help you find the path to prosperity faster and more easily. Join the community of professional coaches like you, and open our Wisdom Vault full of insider secrets to help you leap forward.

Become a Prosperous Coach member today!

To Your Growing Prosperity!

Rhonda Hess, Founder of Prosperous Coach

From the Wisdom Vault…

Have you ever felt nervous or inarticulate when talking to a prospect? You know the moment of truth is upon you… it’s time to enroll this new client — but how?

With practice this process will be effortless. For now, follow these seven steps to winning conversations with prospects:

1. Understand Your Target Market

The first step of having powerful conversations with prospects takes place before you meet the prospect. If you have expertise in your market, tap into your insider knowledge. Otherwise research what motivates them. Look at these niche markets and their top challenges:

- Realtors = competition, the changing market, and understanding what their clients want.

- Stay-at-home moms = isolation, loss of adult identity, and tedious tasks.

- Corporate executives = making the numbers, managing employees, and board politics.

Interview 10 — 15 individuals in your market by asking: What is working well for you right now?  

What are your top three challenges?  

What are the three things you want most?  

What are you learning about right now?  

What is missing for you?

Tailor your services to provide solutions based on their answers. Practice talking about a bulleted list of specific benefits that you offer them. Never talk about vague concepts such as helping them achieve goals and fulfill their dreams. These have no selling power.

2. Value Yourself

In everything that you do and say show that you believe in your services and value your time. They will perceive your value too.

3. Connect

Talking to prospects is not a performance. Don’t perform. Connect! Good conversation is a weaving of mutual trust and understanding.

4. Use Appreciative Inquiry

Once you’ve introduced yourself, ask your prospect meaningful open-ended questions. Respond briefly with appreciation for them, validation for their feelings, and endorsement for their ideas. If you start by asking what is working well in their lives, their challenges will arise naturally. 

Remember — they are able to solve their own problems. Resist the temptation to make suggestions unless they ask you directly. Listen and respond with understanding. Let them have the floor. Be curious.

When it’s your turn to talk, be briefly enthusiastic about what you do. Weave in a short success story or two about your clients (no names) that relates to the challenges your prospect has just told you about.

5. Invite the Next Step

A clear moment may open in the conversation to enroll the prospect into your coaching practice. Invite them to a sample session. Be ready to set an appointment, and ask for their email and phone number so that you can follow up.  

This part of the conversation may go something like this:

I know exactly what you mean, Susan. What do you think it would take to make that change in your lifestyle?

   Well, I’ve been thinking about this for years and haven’t tackled it.

What would the payoff be if you could achieve this now?

   I’d work 20 hours less each week and have more fun in my life!

That would be grand! Is there one step you can take now in that direction?

   Find time to create some products to give me recurrent income.

You really know what to do, it’s just a matter of making the commitment and focusing on steps. What would it mean to you if you could do this now?

   It would improve my family life for one.

You’re speaking about things that are close to my heart. In fact, my specialty is supporting entrepreneurs to create a lifestyle driven business rather than a business driven lifestyle.

   Really? How do you do that?

We’d start by developing a complete vision for your new lifestyle, then we’d set incremental milestones. With what you’ve told me I think it would be possible for you to free up time, expand your income streams and meet many of your lifestyle goals by the end of this year.

   I really do need to do this. I’ve been tolerating this for too long.

I hear that. Let’s sit down and set up a plan…

Notice that it’s not even necessary to mention coaching, which removes the obstacle of having to define what coaching is. If the prospect isn’t ready to take a step with you now, ask if they’d like to sign up for your free ezine/report/blog so that you can continue to contact them. Or, invite them to your upcoming event,– workshop or teleclass etc.

6. Follow Through

If you do everything beautifully up to this point and then drop the ball here, it could cost you all the effort that’s gone before. Always follow up within 24 hours or the lead may go cold.

7. Detach from Outcome

Let go of any worries or attachment to whether they engage further with you after the conversation or not. If you get attached, your prospect will feel it and even if they don’t know what’s up, it may dissuade them from hiring you. Focus on enjoying them and staying light.

Talking to prospects may be one of the most difficult aspects of getting clients at first, but practice and the right mindset will ease the way. And, if you master this piece, you will be unstoppable!

PS… If you got solutions from this article (excerpted from the Prosperous Coach Wisdom Vault),  wait until you see all of the benefits waiting for you when you become a member of Prosperous Coach! A full year membership is just $247.

To Your Prosperity!

Rhonda Hess, Founder of Prosperous Coach

From the Wisdom Vault…

What do you do for a living?Are you able to answer this question in a compelling way? If so, you’re likely to attract as many clients as you want.

When you create your unique benefit statement, fill in the blanks with dynamic verbs and phrases that have the greatest impact in as few words as possible and use appropriate syntax .Word-smith your statement so that:

- It’s streamlined to no more than 20 words.

- It sounds right to you when you say it aloud. 

- Every word is 100% relevant to your target market.

The temptation is to use broad and generic language that might apply to everyone — a big mistake.Let’s look at some examples of benefit statements and see what makes them a winner or a dud. You’ll see that sometimes, if it’s masterfully worded, the ‘by’ phrase is not needed.

Sue’s Success Secrets
This week’s question is:
Knowing that being detached from outcome is the best approach, how do I get my center back when a client decides to “take a break from coaching”?
Prosperous Coach Mentor, Sue Brundege answers… 

To Your Prosperity!

Rhonda Hess,
Founder of Prosperous Coach

From the Wisdom Vault…

In my first few years as a coach I was a care-taker with my clients. It was in my nature and I thought it was the kind way to coach. I thought it was better to serve the client no matter what the cost to me. Do you relate to that?

I continually made concessions that jeopardized my success:
- Offering a second or extra long sample session.
- Reducing fees because I sensed my prospect was struggling financially (even though I was too).
- Setting sessions at times when I didn’t want to work.
- Leaping at any opportunity before looking at the possible return on investment of time.

These situations always ended up being lessons learned, sometimes painful ones.

And then one day I committed to stop all of that and set strong business boundaries. A remarkable thing happened:
1. Suddenly, my coaching was in high demand.
2. Clients stayed longer and made greater progress.
3. My income significantly increased.
4. I had time to create products and design new programs.

It was as if I freed myself to be more professional in my business and that, in turn, raised the perception of my value and the way my clients invested in themselves. It was empowering all the way around!

Before you get caught in another uncomfortable lesson, set up strong boundaries for your business. They create a clear and ethical structure that allows others to find their place with you. Good boundaries speak volumes about your professionalism and keep both you and your clients on track.

Here are the Five Sacred Coaching Boundaries:

1. Want only as much for your clients as they want for themselves.

2. Let your clients do their own work.

3. Stand firmly by your chosen fees and terms.

4. Hold time boundaries.

5. Say ‘yes’ only to opportunities that will return your investment.

To learn more read the full article now.

Sue’s Success Secrets
This week’s question is:
Can you give some clue as to how market research is done, or where do we start?
Prosperous Coach Mentor, Sue Brundege answers…

To your prosperity!

Rhonda Hess
Founder, Prosperous Coach