I hosted my first seminar on February 4th and personally invited business owners who had not yet agreed to a Complimentary Coaching Session. We went through the “5 Steps to Freedom” presentation using the “Stunning Seminars” method which went great. I booked four Complimentary Coaching Sessions at the conclusion of the seminar and two more after the event.
One of the seminar attendees agreed to have a “strategic partnership” meeting with me, but as the meeting proceeded the feeling totally changed and it became a CCS. The owner said that he has been thinking about coaching every day since the seminar! I reinforced how much untapped potential I see in the business and how together we will have the opportunity to make it even more successful. It’s a family owned printing and graphics shop with revenues around $500k per year. They saw the need for coaching as they have no clear Tactical Marketing Plan, USP and Guarantee, or Strategic Plan. I signed them up for coaching and left with a check for $1,250 per month. We agreed that this introductory rate will be for six months after which time we will review their program and move them up to $1,750 a month out of their additional net profits. The owner told me the next day that he felt like the first 3 chapters were written just for him. I am very excited to work with this client as he is ready and eager to learn!
Dusty C., Business Coach, USA
I have acquired my first and second client within 1 week during October. My first client is a member of a BNI group that I joined and is a young couple with a HVAC business. They started their business from scratch 8 years ago and now want to grow the business, better utilize employees and find more time for the owner to perform sales and marketing activities. I signed them on for $450 per month.A week later, I met with two brothers, CEO and President of a global software development company with a development organization of over 250 employees located in India. These very technical minded brothers have developed an excellent niche set of software tools and want to grow their business. The President learned about my company and immediately called to review his business and asked me to help them grow. After 8 hours in a complimentary coaching session, the two brothers told me they had never spent that much time talking about the ‘business’ of their business. They told me they wanted my leadership and business tools to help them develop the internal processes to enable profitable growth. I signed them on for $3500: $1750 per month, plus $1750 for the strategic planning process. I spent 2 hours the next day developing the coaching agenda and beginning strategic planning activities.
R. M., Business Coach, USA
I just got the check! It’s a total of $2,625, which is $1,750 for the first month of coaching plus $875 for the Strategic Planning process. I met this principal of a local CPA firm at my BNI meeting on very next day after you taught us the approach of partnering with CPA firms and splitting the coaching fees with clients they bring to us. At the first meeting I positioned us to work together as strategic partners (joint coaching, seminars, referral sharing) though I also wanted a coaching engagement. I went through the Sales Binder thoroughly and she then wanted to set up a meeting with her senior partner who will be transitioning the firm to my client over the next few years. The senior partner was skeptical at first about the amount of money, but by the end of the meeting he was engaged. The thing that really pulled him in was the fact that I could be a resource to them to help their clients when they get questions outside their area of expertise, which they do a lot since CPA’s tend to be the most trusted advisor for most business owner.
I also picked up a commercial printer client this morning at $1,750 per month with the Strategic Planning process spread out over the first 3 months. I walked away with the check for $2,350. I’ve been working on this for a couple of months. I did the original CCS in mid November with the president of the company and I stayed in touch with him monthly. Finally, I was able to get one of the brothers to meet with me and review the program and then I had to repeat the process with the 2nd brother to review the program. Finally, after getting all 3 brothers onboard, I gave them homework to get the process underway! We’ll be focusing on the USP & Guarantee, Sales Management System, Tactical Marketing Plan, and the Break-even Plan. Next time, I think I’ll insist that all the partners be in the room for the first CCS!
Bill M., Business Coach, USA
I got my first new client in the New Year! We met at an Entrepreneur’s and Inventors Network group. She is a successful chiropractor with two offices and five staff members who wants to solidify the systems in her business to create more time to pursue outside interests including speaking and writing. Our phone meeting led to a CCS meeting which went great. She has a life coach and admits that her life coach is helpful to her personally, but isn’t helping her business. Interestingly, as I presented the Coaching Agreement to her during the CCS, she said she “wants to go faster, not slower.” Because of her need to phase out the cost of her life coaching engagement, we agreed on pricing of $1,500 for the Strategic Planning process, $1,500 per month for January and February, then a full coaching program of $2,250 per month starting on March 1!
Another client! I’m a member of my local Chamber of Commerce’s “E-Team,” which offers free counseling to local business people who want to start businesses. In February of 2008, an architect presented his new business plan to all of us on the E-Team and we stayed in contact. (I called every month to ask how he was doing!) After a successful and fast start to his business, his pipeline stagnated, and he started to realize he could use some help with marketing and sales. We had a face-to-face meeting and a CCS with his wife. The key to this meeting was my insistence that they talk to me about what they wanted their lives to look like in ten years, not just their business. The wife, who works an outside job she’s not happy with, became emotional as she described being able to spend more time with their 5 year old daughter as she grows up, and having the business allow her to work with her husband rather than in an outside job. Although they wanted to go forward, they hesitated because of the investment, even though his numbers in the Profit Equation showed him creating $220,000 of additional net income in two years with my coaching help! After Christmas, he had a chance meeting with another client of mine who told him that he just had to work with me if he wanted to achieve his goals. On January 6, we set a date for the Strategic Plan and the next day signed an agreement for $1,250 per month with a $500 fee for Strategic Planning process!
My latest new client has an HVAC business doing $1.8 million in sales. He’s owned the business himself since 1984 and has been in my BNI chapter for over a year, which is how we met. We had a CCS meeting in November, but he was reluctant to invest in coaching because he has been burned by consultants and brokers in recent years. His primary objective is to sell the business and he wants to enjoy the rest of his life without the stress of business ownership. A couple of weeks ago (after continuing to hear my message every week at BNI) he asked me if we could talk again. The wife, who is the accountant of the business turned out to be very helpful. Although we focused 90% on how a Comprehensive Exit Strategy could help them, when we talked about looking for increased value the wife was the one who said “we could probably trim a little more cost” and “our sales guy isn’t exactly a ball of fire”. I felt as though the turning point came when they expressed concern about how I could help them where the other consultants they engaged had failed. So I explained that as a coach, theirinvolvement was going to be the difference, but that I also had a system and a plan for how we would implement the strategy. I simply opened up my Comprehensive Exit Strategy “How To” slide, read the strategy point-by-point, putting particular emphasis on maximizing the value of the business. They were very impressed that I already had a plan and a system that made sense to them. So when I got to the Profit Equation, they stopped me and said “We get it, what do your program and fees look like?” The result was a signed coaching agreement!
Jerry B., Business Coach