What Makes for Financial Success as a Coach: Part 2 of 3 - Support From Your Coaching Community
What Makes for Financial Success as a Coach: Part 2 of 3 - Support From Your Coaching Community

By: By Elizabeth Saigal, Ph.D.

This is the second in a series of three posts is inspired by the coaches identification of what clients are looking for as found in the International Coaching Federation 2012 Global Coaching Study. The first post covered the importance of value perceived by the client and the third post will cover the level and depiction of coaching competence. This post discusses how support from your coaching community contributes to business success. Data* from the survey relevant to this theme is given below:

 Theme  Value perceived by the client
 Attribute and percent endorsed  Effectiveness of coaching process: 93%
   Personal rapport with coach: 92%
   Cost of coaching: 62%

* Please see the first post for the complete set of data.

Powerful marketing comes from building relationships with individuals and making sure that they know what it is that you do. So, what are you doing to build your coaching community or tribe and how could you be more effective? One way is to explain what you do to people that you know and request that they pass your name on to anyone who comes to mind as potentially having an interest in working with you. In addition, ask those you have worked with to refer you and whether they would be willing to provide a testimonial for use in your promotional materials. You can request that it includes certain elements to make it as powerful as possible including:

  1. the thing that stands out to them the most about your service,
  2. a sentence each on where they were before coaching, what they got out of working with you and where they are going next, and
  3. a brief statement encouraging taking action on coaching with you. 

In addition, if there were any money shifts that pertain to the experience, request that they can incorporate those figures too.

When you have your first complimentary session make sure to fully explain the coaching process. Make this discovery session work for you in the success of your business by making education of the client as to what life coaching is, how it is done and how it differs from other types of conversation a high priority. Through carefully listening to the client explicitly identify the value they would get from working with you. Focus on the benefits of the coaching model and how you can provide great value to move them forward. This strategy also allows you to move away from pushing your services and the hard sell into a space of relationship building. Do not cease contact with individuals you did a discovery session with who did not go on to work with you. If you have a new service, product or freebie, share that with them. The initial timing, fit or level of commitment may not have been right, but next time it might be. Multiple contacts allow the relationship to develop and contribute to your community. Even if they do not ultimately purchase from you, they may share information about your services to others and your commitment to serving them over time generates trust and reduces the perceived risk of working with you.

Use the introductory session to prescreen who you work with and only take on those with a great fit. Be honest with yourself about your desire to work with the client on the topic that would provide most value for them. If you can identify a better match share that information. If you have any intuition that you should not be working with them DON’T. This will also strengthen the referrals and testimonials you receive from those you do work with.

To conclude, coaching business success is partly due to how successful you are at building a community of people who know what it is that you do and the value you provide. You can expand your community by proactively requesting referrals and testimonials from those with whom you already have a relationship. In addition, use your introductory sessions and any other business speaking opportunity to share the benefits of coaching and the specific value received as your client.

Dr. Elizabeth Saigal has been an ILCT student since Spring, 2012, and is working towards becoming a Master Life Coach. Her ideal client is one who is intent on connecting with their inner truth and aligning with their intuition to live a life on purpose. You can connect with her by email at [email protected].

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