6 Essential Secrets for a Successful Coaching Practice

Quotes from Field Learning:

"If you're a newly qualified coach, NLP Practitioner or thinking about getting in to a coaching career then you are joining many thousands of people who hope to create a successful coaching career for themselves. And like many thousands of people a year you might simply find yourself giving up after months of frustration trying to make a living at what you love doing.

People get in to coaching for all sorts of reasons and it can be a very rewarding and stimulating career. You can have some of the most satisfying moments of your life as you see people in front of you achieving, succeeding and getting out of their own way in so many ways.

We want the same for you in your coaching practice. Being a good coach isn't enough. The hard reality is that there are many great coaches out there that simply don't have enough clients (or clients that are willing to pay enough) to make a living. Conversely there are many poor coaches out there doing very well. The difference is marketing and for some one who is so 'other focused', as many coaches are, you may well be finding it difficult - perhaps you don't even know where to start? Or perhaps you've followed all the typical marketing advice and have your web site ready, business cards and brochures printed and you've networked till your jaw is sore... but clients just don't seem to be interested.

We've been through it. We've learnt the lessons and we don't want you to waste any more of your time. We want you to know and really understand the secret to building a successful coaching career. If you read this report and start to act on what we are telling you then you really can build the career you want.

This report will not tell you how to market yourself. That's unique to you and how you play to your own strength and weaknesses. It is also unique to the niche you choose to operate in and there are many other sources that can provide you with such detail. What this report will tell you is the 6 key things that all successful coaches do to create and maintain successful coaching businesses. All of them - without exception.

We'll ask you questions on the way as you read through each secret. We advise taking some time to answer them. Make notes and really think about the questions we're asking. As you read through you may find yourself going back to ask yourself the same questions again as your answers will change as your thoughts make more and more sense. There is no one right answer. What we aim is to help you find the right answers that fit the life you want to create.

This report will assume you have had some NLP training (although it isn't necessary to read it) and that you already know something about coaching. We'll assume you know how to use NLP tools to overcome limiting beliefs and create the states for success that you need. If you haven't trained in NLP then of course we highly recommend it. Not only will it give you a hugely practical range of tools to use with clients but you can use it on yourself to ensure your success.

Let's get started with the first and by far the most important secret for building a successful coaching practice.

Secret 1. Niche - Give yourself a handle people can grab you by

 

 

You've probably heard this before and if you haven't then you really, really need to take this secret on board. It's the number one secret for a very good reason. The bottom line is that any successful coach, who is making a good living out of coaching is operating in a well-defined niche. No exceptions. Look around - you'll see it's true.

You may have friends or people you know who are making money by being an Executive Coach and think they don't really have a niche. They do. Ask them what clients they work for and why their clients buy them in. They'll know and are happy to make sure everyone knows, including you. Every successful coach we know has a clear and well-defined niche. One niche and that's where they operate even though they may coach in other niches as a consequence.

But, we hear you say, "I can coach anyone!" We know and we're not talking about that.

We are talking about:

• How people find you in the first place
• How other people refer people to you (where the most successful coaches get their income from)
• You operating at your best in a niche that fits you and plays to your strengths
• You getting more satisfaction and personal reward because you're working with your ideal clients all the time

By operating in a clearly defined niche, everything else can fall in to place. You know what to say to people, your branding is clear, your pricing strategy is self-evident and you know where to be to find the clients that you want.

Your niche and it's needs drives you to act in the most appropriate way to get clients. And if you take time to make sure your niche fits your strengths and plays to your interests then work becomes a joy.

If your answer to "What do you do?" is "I'm a coach" then you don't have a well-defined niche. Your answer should be in the form of what value you offer to whom. For example:

• "I help newly divorced people cope with dating and relationships again"
• "I help teachers create a better work/life balance"
• "I help dentists run their practices more effectively"
• "I help lawyers to develop better relationships with their colleagues"
• "I help engineers and scientists transition to managerial and leadership roles successfully"
• "I help artists and writers remove creative blocks and be more commercially successful"

Did you notice that the word 'coach' isn't mentioned above once? Do you have a clear idea of what the coaches above do and what value they offer? Even if you don't want their specific service do you know someone who might and are you more likely or not to remember them? Are you getting the message about having a niche?

Here's some questions to get you started on your thinking about your niche:

• What work have you most enjoyed in your life and why?
• What do your friends know you as being really good at?
• Who is your ideal client?
• What fascinates you?
• At your very best, what are you doing and how does it add value?
• As you think about possible niches which ones are you particularly drawn to?
• What are the immediate and pressing needs of each of these possible niches in terms that are easy to describe, communicate and that anyone would understand?
• Which of these needs would you be delighted to meet?
• Who are the most successful coaches that I am aware of and how do they define their niche?
• What gives these coaches credibility in their niche?

Secret 2. Branding - Keep focussed and consistent

 

 

Everything you put out says something about you and is part of your business identity. Before you start be very clear about what you want that message to be. Having defined your niche you will have a clear idea of your potential customers and can model your branding around that. Does the writing convey the right mood and communicate effectively with your chosen target audience? Are you using language that they will relate to? With everything you do keep in your head a clear idea of what you are offering and who you are offering it to so that the style and language is appropriate and effective at getting your message across.

Your choice of words is all part of your 'branding'. 'What' you choose to write about is also a crucial element. Keep focussed on your niche, your potential customer and your subsequent branding in everything you write from the headings on your flyers to anything you twitter out or put on FaceBook.

Words are just part of your branding. Another very powerful tool is your use of images. There are many things to think about such as logos, layout, images/photographs, colours and the type of font you use. Every element will evoke a response in your viewer. Every decision you make from your choice of paper to the colours of your logo will say something about your business. Try to be as objective as you can and ask others (particularly the type of people you are targeting) what they think and what it says to them.

Once you have decided on your brand you will want to reinforce it as much as you can. Do your business cards, leaflets, posters, etc. work together to reinforce your image. If these items don't match then you dilute and undervalue the rest of what you have created.

Last but not least, YOU are the most crucial element of your branding. Everything you say and do, your tone of voice, the way you move and the clothes you wear trigger responses in other people. Are you getting the desired response? If not then now is the time to draw upon your NLP skills to create and maintain the state you need for your brand.

Here's some questions to help with your thinking on this:

• What does your current branding say about you? Take a step back and try to see it through the eyes of your favourite type of client. What does it truly say?
• How does it compare to other people who work in the same or similar niche as you?
• Does it stand out in some way?
• Does it express your values and what is important to you about coaching?
• Looking at all the ways you reach your clients is your message clear and consistent?

Secret 3. Pricing - Make a living out of adding value

 

 

The pricing issue is another key threshold any new coach needs to get through. Your price is a statement of the value you are providing and if you're not certain about that value then you will be reluctant to charge what you should be.

Successful coaches know what value they offer and they do not fear getting paid for it. They know what the pain is for their clients and they know how much it costs them. They pitch their prices relative to the value of the solution they are offering.

Let's get one thing out of the way. Pro Bono coaching has very little value (no pun intended). It can feel like your practicing useful skills but actually neither you or your client are getting the value you should be. Always charge. It will get you used to valuing your self and your coaching clients will be more committed to getting results. It's a win-win for everyone.

So how much should you charge? Currently 1-2-1 personal coaching is typically £40-£120/hr and business coaching is typically £200/hr upwards (anything less than that and a business is unlikely to take you seriously). That's the bottom line.

When clients and businesses know you well then price is rarely an issue. They already know what value you offer - they just want to know what your rate is so they can check their budget and arrange to pay it. As a new coach you aren't in that position.

For a new client you don't know you may have to delve a bit to find out what price you should be charging. First find out how much the solution you are offering is worth to your client.

For example:

• "If you had 10% more sales how much profit would that mean for you?"
• "If Joe was managing the team better what value would you put on that?"
• "If you had a better work/life balance what would that mean for you?"
• "And so on and so on..."

You may have to help your potential client do the maths but as soon as you have a figure you can make a direct comparison with what you offer. If I can save you £X would you be willing to invest £Y to do that. If you're credible (working in a niche you truly understand) and can really deliver then it becomes a no-brainer for your client.

There's more about building your presence and word-of-mouth below but for now we want you to realise that you are in the business of selling your time. If you don't value what you do you will struggle to get others to value the solution you offer. Get used to knowing how much you are truly worth to your clients and make sure you charge accordingly.

Some questions to aid your thinking:

• Are you charging all clients the same?
• If you do a really good job for one of your favourite clients how much money will it save them or make them? Is your pricing in line with this?
• How do you know you are charging the right amount?
• How much time are you spending preparing and following up and is this reflected in the price you charge? What is your actually hourly rate if you include in the preparation and following-up time?
• How much do you need to earn per year (Y) after costs and how much are you charging per hour (H)? Divide Y by X and then again by 52 to give the number of hours you need to be coaching a week. Is this realistic and if not what needs to change?

Secret 4. Presence - Be there and follow-up

 

 

So you've worked out your niche and what it's needs are. Your branding is consistent and clear and matches the messages that you want people to receive about the value you add. The price is right and you're clear how it reflects the value you are truly offering.

The next step is simple but also sometimes the hardest. It's showing up at the places where your favourite clients show up. It's putting your self out there whether in an industry forum, at a business meeting, at a networking event or as an active member of a key online community.

So why is it so hard? Because every new coach feels like they are being judged and because they are feeling judged they muddle their message and end up being judged as a muddle and not credible. It's a self-fulfilling prophecy.

There is an answer and it's very simple. Practice, Practice, Practice. Of course it is. If you want to be good at anything then you need to practise it and most beginner coaches I know are not practised at selling themselves anywhere near enough.

But also remember:

• Selling yourself is difficult
• But no one wants to buy you
• They want to buy the value you offer
• They want to know how what you do will solve a problem for them

But of course it's not true that people don't buy people. Of course they do but they don't want to buy the stressed-out you who can't clearly communicate your message. They want to buy the 'easy to get on with credible you' who can hold a conversation, is genuinely interested in them and seems like a good person to deal with.

In other words it's not about you. It's about being the best of you and making valuable connections between problems and solutions. And if you've chosen your niche well and it's a good fit with what you value and what you're good at then it's far more likely the 'best of you' will turn up.

Your NLP skills will of course be invaluable here. You'll know already how to overcome your own internal resistance and self-doubt, you will be able to create an effective state for communicating your message and you will be able to create fabulous rapport and connections with new prospects.

One last comment here. Turning up and being visible is a good start. Making some useful connections is a valuable next step. But if you don't follow-up in a timely way then you might as well not have bothered. Have a follow-up system and work that system to make the most of the connections you are making. If you are leaving it more than a few days to follow-up then you're leaving it too late.

Some questions to aid your thinking:

• Where are you showing up now? Does it fit your niche and is it working for you?
• Where else might you show up that could be even more effective?
• Who do you know already who you could contact for connections and referrals?
• What is your current follow-up system? How could it be more effective?

Secret 5. Ask

 

 

The great coaches are so aware of the value they offer they have no fear of asking for many things including:

• Referrals
• Testimonials
• Column space in local newspapers
• Time on local radio
• Time with the Managing Director of the businesses local to them
• And much more...

A successful coach doesn't waste time and energy worrying about what they have to offer or why anybody would want to work with them. They know what they have to offer and they know why people would want to use them. They do know that not enough people know about them yet so they keep asking 'Who needs me?', 'What problems are there out there that I can help with?'

I'm not sure if we can make this any clearer. If you want to make something happen and don't know how then ask some one. If they don't know, ask who does...

Some questions to aid your thinking:

• Do you ask for a testimonial from every coaching client?
• Do you ask for referrals from your corporate buyers?
• How could you ask more from the people you already know?
• Are you getting as much from your connections as the value that you are giving them?
• What stops you from asking more from the people that already know you?

Finally - the 6th secret

 

 

The sixth secret is called taking focused action and it drives everything else. For all the advice we've given here the coaches that succeed are the ones that take action every day to get the clients they want. Successful coaches are also continually asking themselves, "Is this action I'm taking getting me the clients that I want as efficiently as I could be?" If the answer is no then they take a step back, take advice, learn, and move on to work more effectively. Successful coaches are continually taking action and learning from feedback. They don't sit around and think about what to do and how to perfect their message - they take their message out their and test to see if it works. They feel the fear and do it anyway.

Being a successful coach means being an example to the clients you want by taking focused action every day.

If you have taken on board what we've said and decided to act differently and work more effectively to put the value you offer out there then all the best to you. We can help some more but it's up to you now to take action.

Good luck on your journey"

Delivering Happiness!

This book changed my life!  I was also very fortunate to work with Debbie and Ashton as they came to visit motor yacht A for New Year in St Barts!  See the interview with Debbie and Ashton below.

Demi Wants You To Step Out of That Comfort Zone

New Year on A

Simple steps to improve time management and save money!

Now this may seem so simple to some people but recently I started applying electronic reminders to my life and it has reduced stress, given me space to think and saved me bank charges which has had a positive effect on my credit rating!

So what tools do you need?

1. 5 minutes 
2. Electronic calendar

In today's modern fast paced lifestyle we rely on the digital world.  One method people use is  setting up direct debits to pay bills.  In one respect this is great, as things get paid on time. Another tip to SEE where you money is going is to take 5 minutes and set up reminders on your electronic calendar.  This can be on you computer using a software program like  Microsoft Outlook or  a web based provider like Google Calendar. 

What this enables you do is:

1. Set up reminders on a reoccurring basis for example daily, weekly, monthly or yearly.
2. Set them up in such a way to send you an email or text message NO COST.
3. This gives you the opportunity to review your spending habits and feel more organised.

A prime example for myself is I wish to pay as much as I can afford a month towards my outstanding credit card bill.  The way I motivate myself is not to have it on direct debit but to set up a reminder each month.  I then have the opportunity to go into the account, see how much the minimum balance due is and top it up with as much as I can afford.  I feel a sense of achievement  actually SEEING the amount reducing and knowing that I can pay it off sooner.  

This has a positive effect on one's credit rating.  You might even notice a few letters from the credit card companies offering a higher credit limit. 

Tips on savings of up to £300 per year in 5 minutes!

Is your mobile phone bill robbing of a possible holiday? 

How YOU can save up to £300 per year. 

1. Check with your mobile phone supplier if they offer a package like Vodaphone do where you pay £2.50 per month to cover 0800 numbers
2. Check to see WHERE you are spending your money. ie. calls, text, data and adjust your package to suit your needs
3. Keep your eye of your providers monthly specials, pop in when you go past a store or read their website once a month
4. Take 10 minutes a month to analysis your online bill 
5. See what the competition are doing, if you are able to switch suppliers for a better deal why not?

As a reward for my hard work to do the above I have saved myself £28 on my bill this month and have put that into my savings account towards my yearly holiday!