Coaches’ Coach = Family

Coaches’ Coach = Family

One word: FAMILY.

You’ve got a family here. You can have conversations with them, get advice from them. You can disagree with them, have tantrums with them. 

But the most important thing is: you get guidance on the right things to do. I’ve never been in an environment like it in my life. It’s phenomenal.

I’ve been searching for purpose for about 6 or 7 years. FOUND IT — serving business owners. 

I’ve got mentors who are helping me raise my bar to places it’s never been before.

Dave Drimmie

Business Coach, UK

How to Remove the Risk of Business Coaching for Your Clients

How to Remove the Risk of Business Coaching for Your Clients

What a thrilling week! As the world is beginning to open up, business coaches are having gutsy, visionary conversations with business owners struggling to grow their businesses—by helping prospective clients understand that the risk of failing to act is considerably higher than the risk of business coaching!

You see, whether you’re a new or veteran coach, business owners need your help now more than ever!

Why?

In any recession, there are fewer dollars being chased by about the same number of businesses. Even though governments are printing money as fast as they can to increase the global money supply, the pie has shrunk! That’s why many will close their doors forever.

And that’s why this is a once-in-a-decade opportunity for you!

For the first time in 10+ years, many business owners have to get REALLY SERIOUS about marketing and sales. And so do you!

When YOU lead the way in aggressive sales and marketing activity, you will attract clients who need your leadership!

The Number One Skill You Need to Master Now

That’s why the #1 skill you need right now is doing Complimentary Coaching Sessions with your prospects so you can close them into coaching clients.

And I’ve developed a powerful tool called the “Profit Equation” to help your prospects put the risk of business coaching into context…by showing them how hiring you will pay off in spades.

In other words, it helps “find your fee” as a business coach and completely remove the risk of paying you for coaching!

Here’s what the Profit Equation looks like in worksheet form:

But does it work?

Absolutely!

For example, one of our clients, Karl Diffenderfer, joined the Coaches’ Coach in March, just days after the Coronavirus crisis hit us in full force.

Over the last few weeks, in the middle of this crisis, Karl has landed three new clients, for a total of $3,500 in new recurring monthly coaching revenue

Again, I know you may feel a bit awkward or uncomfortable talking with business owners about paying you for business coaching right now, given the struggle many of them are facing.

But, the business owner’s pain is your opportunity to serve. And you won’t be able to serve them if you don’t talk to them about business coaching!

I know you may feel a bit awkward or uncomfortable talking with business owners about paying you for business coaching right now, given the struggle many of them are facing. But the business owner’s pain is your opportunity to serve. And you won’t be able to serve them if you don’t talk to them about business coaching!

Thousands of business coaches in our global network are signing up business coaching clients right now using the Profit Equation tool because it’s remarkably effective, having been honed over the last 20+ years.

You can download a FREE copy of the Profit Equation on our Resources page.

Better yet, learn how to use it—and our entire 17-step process for closing more business coaching clients—in our FREE ebook, Secrets of a Business Coaching Rock Star.

Don’t let the current crisis derail you. NOW is an incredible time to help more businesses and grow your own!

Hunger Games: Small-Business Edition

Hunger Games: Small-Business Edition

The Hunger Games: Small-Business Edition is playing out before our eyes!

Unemployment recently hit about 14.7% and is heading toward 20% here in the U.S. Sadly, some forecasts predict that 10% of our small- to mid-sized businesses will be corona-casualties before all is said and done. 

As the contraction continues and global unemployment rises, two mega-trends are happening simultaneously at scale:

  1. Brilliant business executives are being furloughed or laid-off. Some of them are collecting severance or unemployment comp while pivoting into a business coaching career.
  2. At the same time, business owners are fighting for their survival in a cruel re-enactment of the Hunger Games, where at least 10% of our SMBs won’t make it out alive. The smart ones are reaching out to business coaches for help. Every Katniss needs a Haymitch.

Almost the exact same thing happened in the Great Recession of 2008-2010.

In any recession, brilliant executives take their hard-won expertise to the streets in droves and plunge into the world of SMB leadership.

Please understand – if YOU are one of those furloughed/laid-off executives, this is a once-in-a-decade opportunity for you!

Poorly run businesses are getting killed by the thousands right now. 

The corona-contraction is like a Hunger Games sequel. Small- to mid-sized businesses are catching fire and need first-responders.

In any recession, brilliant executives take their hard-won expertise to the streets in droves and plunge into the world of SMB leadership. Please understand – if YOU are one of those furloughed/laid-off executives, this is a once-in-a-decade opportunity for you!

Will you be one of them?

For the first time in 10+ years, many business owners have to get REALLY SERIOUS about marketing and sales. 

And about managing their cash. 

And about really listening to and serving their customers. 

And about turning their lazy team members into top-performers or top-grading them right off their payroll.

It’s amazing how many sloppy businesses thrive until the fires of recession rage through the land!

Then, all bets are off. Only the fittest survive!

And that’s where you come in!

You can help many of these businesses live to see another day.

Turn your skills and experience as an executive into value and hope for business owners and entrepreneurs by becoming a business coach. You’re the hero the world needs now!

And we’ll show you exactly how, in our FREE ebook, How to Become a Business Coach. Download it today!

Coaching Clients through Coronavirus

Coaching Clients through Coronavirus

Here at Coaches’ Coach, we have a fascinating vantage point on COVID-19 and the recession because our global network of 6000+ coaches is feeding us info 24/7 on how SMBs are faring. Thank you! We’re better together. And together, we are coaching our clients through Coronavirus.

(On a personal note, I’m so grateful for how our global network of coaches are helping each other right now. It’s so inspiring! If you haven’t yet, join the conversation!)

One thing I’ve noticed is that the same pattern I’ve seen in past crises is holding true in this one.

SHOCK => ADAPT => EXECUTE => SCALE/FAIL

Teach this model to your business-owner clients what to do in the coming weeks and months because they get to choose whether they Scale or Fail in this process. It all depends on the choices they’re making right now, with your help.

 

Your business owner clients get to choose whether they Scale or Fail in this process. It all depends on the choices they’re making right now, with your help.

How This Pattern Can Help Your Coaching Clients

Shock: In the first few weeks of the crisis, we’re reeling from sensory overload, trying desperately to make sense of the craziness. It feels overwhelming as wave after wave of bad news just keeps coming. What just happened?!

Adapt: Slowly, we begin piecing together a coherent, rational perspective on what’s happening and how the new realities will irrevocably redefine our world in the near term. We begin developing a strategy to adapt our business to seize the opportunities before us.

Execute: Then we go to work. Long days and short nights. We communicate relentlessly with our team to steady their emotional state. Conversations with customers to add ever-more value and understand their new realities. We invest heavily to adapt or create new products/services from scratch at a furious pace while right-sizing our expenses and conserving cash.

Scale/Fail: It’s a simple, inevitable reality that some businesses will begin to scale again on the back end of this crisis while others won’t make it. Those who dig deep, invest, adapt, and execute may survive. Many won’t. Their future is hanging in the balance right now.

And here’s where YOU as a business coach can change the world, one business, one family, one business-owner at a time!

From where we sit, it seems that SMBs around the world have begun moving through Adapt and into Execute. Many of them will Fail because they won’t Adapt fast enough. Many of them won’t Execute effectively. They need your help to survive! They’re simply too close to their own situation to do it well.

Your role, as a coach, is to help guide them through these steps, to help them see the big picture, and to keep them on track.

To help you do that, get a FREE 30-day trial of our comprehensive business coaching system and improve your business coaching skills to meet the current moment!

How Much Money Can I Make with a Business Coaching Franchise?

How Much Money Can I Make with a Business Coaching Franchise?

It’s a fact that business coaches can make a very good living.

Most successful business coaches earn a handsome six-figure income, including many coaches that I’ve trained personally–folks who have gone on to earn $200K-$300K per year or more.

If you’re considering breaking into business coaching by buying a business coaching franchise, you probably have one question on your mind: can business coaching franchisees expect to achieve such awesome results?

It’s an important question. Particularly because, in my experience, business coaching franchisees–as opposed to independent business coaches–often struggle to put together a business coaching income that exceeds what they could have done working a 40-hour per week job.

Why Does Buying a Business Coaching Franchise Set You Up to Underperform?

The answer is simple: the ongoing fees and dues that business coaching franchises collect are often excessively high.

Consider the study I conducted a few years back of the actual performance of franchisees and their regional managers in one of the largest business coaching franchise brands.

The study involved 7 territories in the UK and 5 territories in the U.S. The average coach earned the equivalent of $81,113 USD — not bad…EXCEPT when you factor in the costs…

  • Overhead–including marketing, IT, insurance, taxes, software, accounting/legal: $2,000 per month.
  • Monthly royalty: $1,000-$1,800 per month.  To keep it simple, let’s say $1,500.

Over the course of a year, this is $24,000 per year in overhead, $18,000 per year in royalties and franchise expenses…for a net income of just $39,000 per year.

Who would knowingly invest six figures to have a $40,000 a year job and no ability to walk away, due to the liability of ongoing royalty payments? The fact of the matter is that business coaching franchises are often too cost-prohibitive to be a wise investment. So if you’re considering buying one, be sure to do your due diligence and make sure the franchise you’re considering has numbers that are considerably higher!

Who would knowingly invest six figures to have a $40,000 a year job and no ability to walk away, due to the liability of ongoing royalty payments?

For a more detailed breakdown of the study I mentioned above, as well as comprehensive information on all the ins and outs of buying a business coaching franchise, read our FREE ebook, The Business Coaching Franchise Buyer’s Guide. You’ll discover all the questions you should ask and what you should look for before you invest in a business coaching franchise.