Ep 64 – How to Strategically Choose Your Coaching Niche

In my last episode I listed off 10 Ways To Be More Strategic In Your Coaching Business as an overview to my next 10 episodes.

In this episode I’m focusing on the FIRST way to be strategic in your coaching business. In other words, strategizing this step is what you do before you do anything else — website, offers, social media marketing.

What is this #1 way to be more strategic? Choose a viable coaching niche, of course.

This episode and the other 9 to follow are all part of my Coaching Business Checkup series. I will have a free downloadable Coaching Business Checkup for you at the end of this series, so stay tuned!

One Decision That Rules Them All

MBAs and business experts agree that if you niche your business in a strategic way from the get go you’ll dramatically increase your ability to succeed and sustain success.

And that’s truer than ever in this information age where there are more entrepreneurs and companies flooding the Internet with marketing messages every day.

You can’t attract clients if you can’t attract attention.

And attracting attention is mostly about standing out in some way. Standing out in your niche – what you do for whom is the easiest way to stand out.

If you want your message to get through to people who could become your clients, then you want to speak to a very specific group of people about what they care about most.

Strange isn’t it?

The more specific and focused your message is on a unique target audience and the big acute problem they face, the easier it is to engage people and build relationships of trust. And then enroll them.

You know, coaching niches are my super power.

I decided to strategically focus on this big problem for coaches 17 years ago because all around me I saw that coaches were utterly confused, frustrated, and in many cases, paralyzed by the niche decision. For many it’s what had them give up for good on their business.

So for coaches the agonizing question — WHAT IS MY NICHE? — is the most acute big problem they have. And it’s related to attracting enough clients who will invest. That’s the other acute problem coaches face.

And I know that once that niche piece is settled it opens up ease in all the steps that follow – messaging, offers, marketing – it all becomes a more graceful and intuitive process once you know your niche.

It was a smart strategy then for me to focus in on coaches — my target audience — and on the topic that’s most painful for them. I could pull in my background knowledge in marketing and my experience writing coach training curriculum and training new coaches. It’s a good fit.

I wanted to tell you how I came to my niche to illustrate the strategy behind it. It’s not rocket science but it was a thoughtful process. And that’s what strategy is.

Many coaches miss this crucial step of choosing a smart niche. It’s partly because of a misunderstanding of what makes for a successful coaching niche. And partly, it’s fear.

Can you relate to that?

  • Maybe you fear that you don’t know enough to specialize.
  • Or, you might fear narrowing to one group and excluding others. (Although exclusion isn’t really necessary because targeting an audience is about ease in marketing not exclusion or limitation of who you can have as a client.)
  • Or you might simply fear making a decision and committing to it.

All of these are understandable fears.

But here’s the thing that I remind myself of when I’m fearful. Fear rises up when you’re at an important threshold. It’s how you respond to fear and still move forward on your dream that builds courage and confidence. Moving forward decisively is the way out of fear.

What is a Coaching Niche?

A coaching niche is the intersection between a viable target audience + their biggest problem/desire + what you bring to the table to help them get there.

Let’s break this down.

  1. There’s a specific group of people who are seekers. (They do invest in their growth.)
  2. They have a big acute problem that is in the way of something they really want.
  3. You can help them solve it and reach their goals with your toolbox of talents & skills

And so, once you’ve chosen that niche, you conduct a bit of market research and then create messaging and offers that fit their top challenges and goals bringing your supportive skills and tools to the table.

Now, let me illustrate how choosing a niche can be strategic using examples of niches my recent clients have chosen with my help.

Here are two that are directly related to specific subject matter expertise or recent professional background that the coaches could leverage in their niche:

One coach helps parents empower their teen daughters to develop confidence, integrity and resilience. She has a Masters in Clinical Social Work plus experience working with teens professionally, and 3 teens of her own. Her niche is a great fit.

Another coach helps executive assistants break through the limitations of their role and advance to the next level. She has 8 years of experience as an EA and a string of promotions that rewarded her ingenuity and excellence in her roles. Her niche is a great fit.

Another coach with over 20 years experience in nursing and health care is focusing on helping nurses heal burnout and work differently.

Leveraging your recent experience or expertise is the most powerful way to niche.

But not all coaches have subject matter expertise. Instead it may be that your current life circumstances could become an ideal niche. For example:

One of my clients stumbled unexpectedly into being a father and a husband. It happens. In the thick of that he realized it’s a common and difficult experience for young men. So he’s targeting that group to help them find grounding and maturity in the upheaval. A heartful niche based on a personal context.

Another coach decided to work with women re-entering the workforce after a long gap raising children. She knows first hand the challenges that come with finding flexible, meaningful work after a big career gap. And as a bonus we realized her Ph.D. in Industrial Organizational Psychology related to employee recruitment and selection processes was a bonus point of relevance and skill related to this audience. A super helpful niche!

A client who recently turned 49 felt called to remake her life from the inside out and create an intentional journey moving toward 50. So she’s targeting women at 50 to break free and rewrite the rules of their lives. This is a personally motivated niche.

It’s rare that targeting a specific age makes for a good niche but after market research it was clear that 50 is a point in time for women that’s rife with so many physical & emotional challenges and creative yearnings. And we were able to create a transformational program for women at 50.

So you can see there are different ways to approach choosing a niche. The main thing is to think it through strategically.

Remember, don’t just sell coaching to a general audience. Instead, create a program with milestones to help a specific audience overcome specific acute challenges on the way to an ultimate goal.

That’s how you’ll become known quickly and attract a steady stream of clients who pay well.

Coaching Niches That Lack Strategy

Topical niches can be powerful if they are closely linked to a tangible outcome that a specific group has. For example, I’ve known coaches who focus on helping business owners create systems or coaches who focus expertise in something like the Enneagram to help corporate leaders master leadership in a personalized way.

But some topics bomb as a coaching niche:

  • Stress
  • Limiting Beliefs
  • Overwhelm

I’m guessing those topical niches bombed primarily because these challenges are usually chronic problems. They are challenges that people are used to living with and so they aren’t inspiring people to actively seek and invest in solutions.

All coaches can help any existing clients with things like stress, limiting beliefs and overwhelm. But in marketing messages and on websites these topics tend not to inspire enrollment except for a short engagement at a low price.

It’s missing a specific target audience and their ultimate outcome as an anchor point. But even if you did attach one of these chronic problems to a target audience and their goal, it may not feel acute enough to the audience to inspire investment.

Similarly, big overarching goals or life skills can bomb for the same reasons above:

  • Self Care
  • Work/Life Balance
  • Law of Attraction

If you search for topics like these on the Internet you’ll find millions of articles on them. Great support for free but not likely to result in paid engagements with long-term clients. And if clients are short term for low fees, it means you have to work with a lot more people. And that means more marketing and enrolling moments for less income and profit.

Strategizing a smart niche for a viable audience isn’t a needle in a haystack kind of equation. It’s more like the beginning of a jigsaw puzzle where you try to find the opening move that quickly builds momentum.

If you’re stuck and struggling with your coaching niche, let me help you over this wall.

Let’s have a Strategy Session. It will focus you in and give you direction for everything else you create in your coaching business. It will help you stand out the crowd and build your brand & reputation.

I’ll send you some exercises to start then we’ll spend 90 minutes brainstorming on the call. I’d love to work with you. Sign up!

In the Next Episode we spring into the next logical piece of strategy for your coaching business after you’ve landed your target audience and niche.

10 Ways To Be More Strategic In Your Coaching Business

In the last episode I talked about high payoff actions you can take in your business. High payoff actions are the ones that get you the results you want.

Those actions are always strategic – based on a strategy that you’ve thought through.

In this episode, which is the 2nd in the series called Coaching Business Checkup, I’m going to talk about the top ways for new coaches to be strategic in their business.

No Strategy is a Slow Strategy

I was thinking about this recently … when did I begin to be more strategic in my coaching business?

It began when I targeted a viable audience and figured out what they want so much they’d invest in my help to reach that goal.

That was my first point of strategy. That’s #1 because if you don’t target a viable audience no other strategy after that will work.

Embarrassingly, it was only after my 2nd coaching website and after my 3rd year in business for myself that I began to think more strategically.

And wow how it paid off. And how I wished I’d been more strategic from the beginning, but I didn’t know how.

Before that I just flew by the seat of my pants, which is a strange saying but we all know what it means.

Looking back I have to laugh at myself a bit, thinking that I could have a successful coaching business without strategy. But I’ve always been someone to jumps in headfirst. Now when I jump in head first, I’m actually using my head by being strategic. But it’s not fair to compare what I know now to what I knew then.

I was blessed in so many ways — still am — by serendipity.

So many angels and surprises came my way in the form of opportunities and wonderful human beings that gave me a helping hand.

I would never have leaped to the idea of helping coaches, first with their coaching niches, had I not been tapped to be a trainer in a coach training company.

And after a year, I was asked to rewrite the curriculum of that organization called Coach Training Alliance. They’ve been using that curriculum for 2 decades. It’s a wonderful coach training school.

Because the owner gave me an opportunity, I learned that I was good at taking complex concepts and tasks and breaking them into step-by-step processes.

My teach archetype was born then. And coaches started hiring me.

Having no strategy is a kind of a strategy. If you have time to burn or if going about things totally organically is a value of yours, no strategy can work in the long run.

Smart Strategy Means Faster Results In Your Coaching Business

But when it comes to attracting enough clients who pay well, stay longer and refer more ideal clients, having a strategy now, when it’s early days in your coaching business, is the way to get there faster.

For most of us, getting there faster is critical. Most of my clients need to earn and earn well. Their coaching business is in lieu of getting another J.O.B.

So strategy is the way to go.

If you’ve not learned to be strategic yet, that’s okay. And today is the day to start.

10 Critical Strategies For New-ish Coaches

You may be wondering why am I talking about strategy so much in a series called Coaching Business Checkup?

Well, here’s the deal, if things aren’t going well for you in your coaching business it always boils down to a lack of strategy. And there are several areas to look at.

For now I’m going to list them. Then in following episodes I’ll go into more detail about these ways to strategize your fledgling coaching business so you have better results.

And, at the end, I’ll have a free download for you with a Coaching Business Checkup you can do quarterly to assess how you’re doing and what needs attention. It will be cool and super helpful!

#1 Target a Viable Audience

#2 Discover Their BIG Acute Problem And Top Goal

#3 Develop a Signature System To Reach Their Top Goal

#4 Design A Simple Business Model

#5 Create a Positive Customer Journey with Strong Conversion Processes

#6 Set Up Enrollment Opportunities and Learn How to Enroll

#7 Build Trust with a Visibility Strategy

#8 Create a Valuable Customer Experience and Collect Social Proof

#9 Set Up Internal Systems To Save Time

#10 Develop High Payoff Action Habits

There are other strategic things you can do. The list could be endless.

I believe that there are developmental phases for coaching business owners that are like building blocks. They should learned one phase at a time.

In fact, trying to implement strategies that are beyond your current phase of business development can trip you up and postpone success.

So I invite you to be patient and start with the foundation. This is what I do with new coaches in my VIP Coaching Business Breakthrough program.

I help you master those 10 strategies. If you’re struggling to create all the strategies you need for your coaching business, let’s talk.

Ep 60 – How To Price Your Signature Coaching Program

This episode is part of my Money Mastery series. It’s the follow on episode to How to Develop Your Signature Coaching Program. Consider listening to that first before this episode if you haven’t already.

Common Pricing Strategies and What Works Best for Coaching

I can think of 3 common pricing strategies for pricing:

  • Cost plus pricing – where you calculate your costs then mark up the program so it pays you well.
  • Competitive pricing – where you set your price based on your competition.
  • Value based pricing – where you set your price based on the value of your offer to the client.

I do encourage you to the do the math of what it will cost you to deliver your program. Most coaches miss this piece. And it’s quite eye opening to realize the cost of the time you spend getting a single client in addition to specific costs of marketing and inclusions in the program.

That said, to ultimately determine the cost of your program I prefer VALUE based pricing.

Here’s the reality, if you narrow to serve a viable audience and create a unique program based on market research, then your program probably doesn’t exist out there so competitive pricing or so called “market value” isn’t a useful guideline.

Also, few if any of your prospects are ever going to do cost comparisons, especially if you don’t sell coaching but rather offer a unique program.

Purchasing a program such as I suggest you create is an emotional decision.

They will hear or see your message. Their trust in you builds because you’ve struck a resonant chord with all that you’re doing.

Then, they go to your website, which is hopefully already designed as a client winning coaching website not an online brochure. On that website are beautifully streamlined words and conversion processes that gently encourage visitors to have a Discovery Session with you.

All of this is thoughtfully coordinated and strategized but in a non-salesy way to build trust with potential clients rather than trying to convince them about the value of coaching.

They hire you because they like you and trust you. You’ve been in front of them with valuable content and your website reinforces that. Then, in the Discovery Session you lovingly assess if they are a good fit for your program and enroll them.

You don’t want to sell people – to have to convince them to hire you. It’s unsavory. It makes you feel skeevy.

But if you have a signature program that you have thoughtfully crafted to fit their circumstances, their pain and desires then no hard sell is necessary. You do need to ask them to enroll though. ; )

The Mystery of Odd Numbered Pricing

You’ve no doubt seen that a lot of people use odd numbered pricing where prices end with 5, 7, or 9. For example, a long-term high value program might be priced at $5,975 for a 5-month program or an online training might be priced at $697.

Early on in my coaching business I eschewed that whole odd number practice and priced evenly. $5,000 instead of $4,975. $500 instead of $497.

And I struggled to enroll clients. I’m not saying there may not have been other factors involved.

And then, I looked around at the people I admired that offered mentoring, coaching and training. I noticed they were all using odd numbered pricing. I switched and immediately saw a difference in my revenues.

Weird? Yes. But we as human beings have been trained all our lives on odd numbered pricing and it’s ingrained. There’s an emotional response to it even if it’s not logical.

That said, if you have an issue with it, do your own testing.

Encourage Single Payment Investment

With your Signature Program, encourage or incentivize a single payment investment by creating significant savings over a payment plan.

For example, if your 4 month program is $3,995 for a single payment. Make the payment plan total roughly 25% higher. So, 4 payments of $1,249 paid at the beginning of each month — which adds to $4,996 — is over $1,000 more than the single payment.

Incentivizing a single payment helps both you and your clients in these ways:

  • They invest once rather than continually making payments, which is an irritant.
  • They are not focused on the financial investment but rather fully focusing their energy on transformation.
  • Also, bundled programs like I’m suggesting don’t deliver value in even amounts month to month.

My own 5-month Coaching Business Breakthrough program is front loaded with value. The first 2 – 3 months, depending on the pace of my client, are where I’ll deliver the most support and assistance to create everything for their coaching business. The last two months are less labor intensive because we’ve completed the bigger milestones.

It’s a risk for you if someone pays monthly and drops out in the early months.

In the last 17 years, 90% of my clients have paid the single payment up front for my signature program. I’ve noticed that those who opted for the payment plan often became difficult clients because they were not as committed to their own success.

I think that’s because they weren’t fully invested up front. They had one foot out from the start. A part of them didn’t believe in themselves up front. And a part them wasn’t fully ready to have a business yet.

In the last 5 years none of my clients has opted for the payment plan.

When people want something enough

they find a way to make it happen.

And just that mindset and action empowers them significantly!

Should You Have Tiered Pricing?

One last thing about pricing … some people advocate having tiered pricing.

I say no. You’ll do better if you direct clients to your Signature Program and stand behind it.

  • First, a confused mind never buys. The more offers you have that you’re marketing at one time, the less likely someone will enroll.
  • Also, remember … don’t sell coaching. It’s a hard sell.
  • Do coaching with paying clients who have enrolled into a program they know they want.
  • And, the more people you sell into your signature program the more you earn doing exactly what you love.

If you want to create lower priced programs than your Signature Program, consider making them altogether different. For example, offer an online program about a different thing your target audience wants help with. It’s not only different in focus but also different in format.

Sell it as a down sell only after someone firmly turns down your Signature Program. That way you don’t set up competition for the program you most want to deliver.

But consider, that you don’t really need to have other offers besides a free downloadable offer so you can build rapport and stay in touch with your network unless you’re prepared to create a separate way to attract potential clients to that offer.

This and the episode before it were an episode loaded with tips. Consider listening to them again and please share it with fellow coaches. So many struggle with this piece.

Also, if you want help to create your entire business foundation with everything I’ve talked about in these episodes, go to prosperouscoach.com/VIP and tell me about you.

We’ll have a conversation about what you want and what’s been in the way to see if you’re ready for a coaching business breakthrough.

In the Next Episode: Get Out Of Your Own Way To Earn More As A Coach

Ep 57 – Coach, Is It Time To Give Yourself a Raise?

This episode is the 5th in the series called Money Mastery. 

The last episode called Are You Turning Away Coaching Clients with Your Pricing explained a more strategic approach to pricing than charging by the session or a package of sessions. I highly recommend that you listen to that.

In this episode, I’ll focus in on the mindset and simple mechanics of how to give yourself a raise, no matter what approach you’re using to charge right now.

Shift Your Money Mindset

If you’re a new coach chances are you’re not thrilled with your income yet. And there may be conflicting ideas in your head about taking money for coaching.

First there’s the idea “Well, I’m a new coach so I shouldn’t charge much.”

But totally at odds with that is the desire “I want to be financially successful at this.”

And then, there’s this other idea that can come with the helping professions “Money isn’t that important to me.”

It’s like mental whiplash.

So first … compassion. I feel ya, because as a new coach I was thinking those same things. One of the coaches in my Facebook group — Prosperous Coach Club —said it so clearly:

“As someone new to the field you desire to earn a good wage but setting fees is like the taboo topic. It is uncomfortable. You feel your skill set and knowledge is worth it but fear your lack of experience being newly in the field doesn’t warrant it.”

Exactly. Thank you for that Jenny.

Most new coaches charge fees that will keep them earning below the poverty level. The strange thing is that if you applied for a job you’d never say ‘yes’ to the rates you’re paying yourself!

You deserve to earn more. Period. And deciding to own your worth is all you need to do. 

Rather than thinking that you should charge as a newbie, own your life and work experience. Charge to sustain yourself.

Be a good boss and pay yourself well. Everyone wins. You, your family, your clients – everyone!

Let’s take a more pragmatic and dispassionate look at this.

Do the Math

Think from the get go like a business owner and do the math.

What I mean by doing the math is to actually figure out what you want to earn and then play with the number of clients and fees per client you’ll need to earn that much.

Now to demonstrate this I’m going to keep things simple. In the last episode I suggested there’s a much better way to price than by the session or a package of sessions.  And I stand by that. But to make doing the math easier to understand I’m going to talk about pricing by the single session.

Let’s say you want to earn $100,000 annually and you’re charging $100 per one-hour session. 

To earn $100K, you’ll need to have 1000 paid client hours each year.

Let’s take this a step further and divide 1000 paid client hours by 50 weeks. That’s assuming you’ll take 2 weeks off each year and work the other 50. 1000 divided by 50 = 20. 

You’ll need 20 active clients paying $100 for their weekly session.

Does have 20 paying clients each week sound doable?

When I first started as a coach, I would have said ‘yes’. I had the illusion that enrolling coaching clients would be easy. Every one wants a coach, right?

But 20 years in I now know that it takes a lot of marketing and enrolling to have 20 clients. And serving 20 clients per week is a big client load! 

The largest number of 1:1 clients I’ve worked with is 15 and I found that to be far too many clients for me. I’m more comfortable with 10 one-to-one clients at time.

Consider how much work it would be to find, enroll and maintain 20 active clients every week.

Sure, you might leap to the idea of doing group coaching or having an online membership program, and you could do that eventually. 

The reality is filling those groups and building that membership program is a big endeavor fraught with challenges. It’s something that fits better later on once you have a leads list and know better what you’re doing.

As a new coach, to keep your overhead and labor low consider offering only 1:1 coaching for a while. Build up your leads list and your reputation. Later, you can try group programs.

I talk about this in my episode called The Simplest Coaching Business Model.

Now let’s give you a raise to make it easier to earn 6 figures.

Let’s say that you decide to increase your fees to $500 per session but still aim for $100,000 annually. You deserve that raise. Make your life easier.

At that rate you only need 200 paid client hours per year. Divide that by 50 weeks. 

You need only 4 one-to-one paying clients each week. 

Now, that’s more enjoyable and sustainable than 20 each week.

Decide To Raise Your Coaching Fees

But you might be thinking, well, Rhonda, how can I charge $500 for one session? Who would pay for that?

You’d be surprised. I’ve seen a lot of coaches charge much more than that.

But know this … they have put a lot of strategy behind their pricing. It starts with:

These are all the things I teach new coaches how to do.

It’s not just about throwing up a website selling life coaching or some other type of coaching and enrolling people by the session.

This doing the math exercise was simply to illustrate how to think about paid client hours and how as you price higher you make earning well a more realistic scenario.

I suggest that you do not charge by the session at all. If you haven’t heard my last episode, go back and listen to understand this. It’s at prosperouscoach.com/56

In any case, you can’t begin to earn well until you charge more.

Decide to give yourself a raise.

Two years into full time coaching, I distinctly remember feeling so frustrated with my income. I couldn’t figure out how to break through the blocks I had about it.

And then I had a mental break through. How did I do that?

One day I simply decided to raise my fees. In fact, I challenged myself to raise my fees by 25% with each new client I enrolled.

And that’s what I challenge you to do now. With each new client you enroll, increase your fees by 25% or more. You’ll be amazed how you take a leap in the way you position yourself and own your value.

My preferred method for raising fees is simply to charge higher fees for new clients. 

You can also raise fees across the board with existing clients by giving them notice. Tell them that as of a specific date your fees go up to a new amount.

Increasing Your Fees Helps Your Coaching Clients Too

Sometimes we don’t consider the effect that low fees have on our prospects and clients.

As I increased my fees, my client took bigger leaps.

They were more invested both financially and emotionally in the work so they showed up more fully, put more into their actions. And because of that, they were more ideal clients for me so I enjoyed the work more.

  • As I increased my fees my confidence grew.
  • As I increased my fees I was able to be more choosey about clients and opportunities.
  • As I increased my fees I developed better marketing, enrolling and coaching skills.
  • As I increased my fees I relaxed.

And relaxing had a profound effect on every aspect of my life, especially my ability to enroll clients. I had fewer ‘no thank you’s’.

My conclusion? If you really want to do the meaningful work possible with coaching and get paid well, charge higher fees

Now everyone has their glass ceiling. I’ve hit a new one over the years and had to work with my mindset to get through it.

There came a time for me where earning more was no longer my goal. Serving more people and living my life the way I want to are the reasons I charge the way I do.

Here is my recommendation for you:

  • Don’t be about money, be about value and sustainability.
  • But, do be a smart business owner.
  • Set revenue goals.
  • Do the math to plan how you’ll achieve those. 
  • Take smart actions.
  • Keep making incremental improvements in your mindset and habits.

In the Next Episode: Start Planning for Profit In Your Coaching Business

Ep 54 – Awaken Your Money Making Mojo

A quick announcement … Have you been stuck on something that’s holding you back in your coaching business? It could be something small but critical, such as:

  • choosing a narrow and viable target audience so you stand out
  • discovering the big problem you help your audience solve
  • crafting your compelling core message
  • branding your company
  • brainstorming an irresistible free offer
  • planning your transition to full time coaching
  • developing or pricing your program
  • or working on a mindset issue that’s been blocking you

These are all perfect topics for a 90 minute Strategy Session with me.

If you’ve been stuck on some aspect of your business, give yourself an early New Years gift of a Strategy Session. In 2020, fees for my sessions increase $200 but you can still get them now for the original price. Learn more and sign up here:

Now to the episode …

This episode is part of my new Money Mastery series in which I’ll be talking about money mindset, charging what you’re worth, profits, pricing and revenue planning.

In the last episode, I talked about gratitude practices and the concept of what goes around comes around. If you haven’t heard that episode it’s a great lead in to this one.

Gratitude primes the pump for attraction. When you appreciate your privilege and all that you already have in your life, you’re waking up your manifestation potential or what I’m calling money mojo.

It really should be wealth mojo because it’s far more than just numbers in your bank account. It’s about flow of all positive energy. But the alliteration in money mojo is more fun.

Also just about every coach I know has some money issues and it can be a key limitation to success. Money mindset challenges are easier to overcome than you might think. For some of my client a quick mindset shift and improved charging practices open the flow of income and profits.

What Is Money Making Mojo?

I consider “money mojo” to be an unshakeable belief in your ability to create the life you want.

Maybe right now you have a fledgling coaching business and what you really want is a steady stream of clients and a robust income from coaching. Maybe enough to transition from your day job to full time coaching.

Do you believe you have the ability to create that for yourself?

You might be thinking …

“Well, Rhonda, how can I have unshakeable belief in my ability

if I’ve never achieved those results in my coaching business so far?”

I feel you. When you want something so much, but as time passes and it doesn’t fully materialize, discouragement sets in. And then belief in self suffers.

It doesn’t help that friends and family are watching you. They might even be skeptical that the money you’ve invested in your coach training and business development are ever going to pay off. A lot of people don’t realize that entrepreneurship is always an initial investment and it takes time to get out of the red.

But what’s most important here is what you tell yourself. How you think of your own abilities.

Everyone struggles with belief in self. Everyone. So if you’ve ever felt like there’s something wrong with you and everyone else has this all figured out, that’s not true.

It’s a HUGE myth we all perpetuate that we are alone in our struggles. Let’s bust that myth once and for all! That’s part of what being willing to be both vulnerable and supportive in community is for.

Your growth opportunity every day begins with bolstering your faith in your abilities. And, as a coach and a fellow human being, it’s also a growth opportunity to help others bolster their faith in themselves. That’s part of what brought you to coaching.

You need to do the work that you ask your clients to do. Shuck those limiting beliefs.

But, contrary to a fear some coaches have, you don’t have to have it all figured out before you coach. Just be actively growing yourself.

Now, imagine for a second, that you are living your life from unshakeable belief in yourself despite not yet having everything you want? What would that be like?

Well, first, you would free up so much energy because you’re not living your life with the gas pedal to the floor and the emergency brake on. Seeing yourself as not capable is like an emergency brake that you forgot to take off when you started.

Releasing that constriction in perception frees up your potential too. And yes, it’s totally okay if it takes a while to fully release those false perceptions. Incremental growth rocks and it’s sustainable.

Also, positive beliefs are like pontoons on a boat. Everything flows more smoothly as you travel.

Stop Casting Spells on Yourself

So how can you awaken your money mojo – or your ability to create what you want in your life?

Begin by monitoring what you think and say.

Do you have a mean streak about yourself?

Do you talk to yourself as if you were lecturing?

Are your thoughts full of self-deprecation and bitterness?

Do you default to boredom, victimhood or sarcasm?

Negative thoughts and spoken words about yourself can cast a spell on you. Give yourself a fighting chance and stop casting those spells.

It’s easy to slip into unconscious beliefs about the way it is – as if your past has forever sullied your future or what’s presently happening will always be so.

I invite you to begin a new habit now where you adjust what you think to yourself and say about yourself to more accurate words.

“I’ve never achieved the results I want in my coaching business.”

becomes

“Some of my goals haven’t manifested yet.”

Feel the difference? The spell stops anchoring you to disappointment through your words.

5 Powerful Questions to Check Why the Coaching Business You Want Hasn’t Manifested Yet

Looking back at my own coaching business journey, I’ve tracked 5 reasons why I hadn’t yet manifested what I wanted at any given point in time:

  1. I let my previous failures mean that I wasn’t smart enough to make this happen.
  2. I hadn’t cleared enough space and time for the thing I was calling in.
  3. I didn’t actually create a full vision for what I want and then put an action strategy plan in place.
  4. My heart wasn’t fully into it as evidenced by my lack of focus and consistent action.
  5. My impatience made me miss the true value of the journey and opportunities available.

I’m much more sanguine about the ebbs and flows of my coaching business now. I know that while I don’t have complete control over my results, I have responsibility for generating my results. It’s actually very freeing to know that.

If your money mojo is flagging take a quick look at each of these areas to see what needs a shift. Ask yourself:

  1. Do I need to bolster my belief in self?
  2. Do I need to secure more time and attention for my goals?
  3. Am I patient and open minded enough to receive what’s coming to me?
  4. Is my vision and strategy complete enough?
  5. Am I taking consistent enough action?

I think you’ll find the key to the shift that wants to happen there.

In the Next Episode: Is What You Love to Coach About Marketable? This is ON AIR Coaching with Alexia Mellor

Ep 53 – Get Prosperity Thinking Working for Your Coaching Business

This is the first episode in the new series called Money Mastery. In this series I’ll dig into pricing strategies, revenue planning and liberally sprinkle in money mindsets and prosperity thinking, which make all the difference in attracting coaching clients who pay well.

After all, success is part mindset, part strategy and part right action.

First for a bit of gratitude …

Prosperous Coach Podcast has just hit 20,000 downloads and that’s because you have been generously passing forward this podcast to your coach friends and colleagues. Thank you!

Every day I hear from another coach how much this podcast has meant to them and I feel so grateful. That fills me with joy.

Speaking of gratitude … are YOU feeling it?

I ask because I’ve seen a direct relationship to gratitude and financial success for coaches. For one thing, gratitude is attractive in the most literal sense of the word.

And it goes both ways. When you’re grateful, you feel better. When you feel better, other people feel better. It’s a beautiful circle.

Attitude and Practice

You’ve heard of an attitude of gratitude.

Gratitude isn’t just an attitude. It’s a practice that goes beyond counting your blessings. Although, naming what you’re grateful for is the centerpiece of prosperity.

Not many people know this, I started my coaching business as a spiritual coach and prosperity building was my focus. No wonder I branded my company Prosperous Coach.

I ended up helping coaches choose a profitable niche and launch their business with confidence because I found myself surrounded by coaches who wanted my help to get their business models set up powerfully.

Well, how did that happen? The usual way. Angels and Surprises.

In my 3rd year of coaching I was on the board of the Denver Coach Federation and the President at that time, Will Craig, was starting a coach training company called Coach Training Alliance.

He invited me to be a trainer and after a year asked me to help him rewrite the curriculum and design a Certified Coach Program.

Talk about gratitude. If not for Will, the opportunity he gave me, and his trust in me I’m not sure I’d still be in business.

Will, if you’re listening, I love you, man. Our partnership has taken me places and brought me in connection with more wonderful people than I ever dreamed possible. I mean who knew?

What’s wonderful is Coach Training Alliance is still going strong 18 years later. They’re still using my curriculum and certification program. And many of the trainers are the original bunch of the best coaches I know.

Do you ever wonder what opportunities might be around the corner for you? What angels — real people — will show up and give you grace?

Anyone you meet could be that person for you. Any opportunity you have could be one that catapults you to a better place. In fact, this happens every day.

So, one powerful gratitude practice is to be grateful for ALL of your connections. Even the ones that don’t feel great.

Here are some other gratitude practices you might not of thought of as gratitude or prosperity building:

Share the Good Stuff

If you get value out of something share it with others. Pass it forward.

I’ve noticed something that worries me in the coaching community. Sometimes coaches get competitive. They are out there only for themselves and their clients. They build their business then put their head down in isolation and strive and strive. They write their blogs, put out their posts but that’s it.

That makes for a lonely business. But it’s also shut down the flow of prosperity.

This is how gratitude ties into integrity.

What Comes Around Goes Around

That can work both ways, you know.

What do you want to have happen in your coaching business? Are you doing for others what you wish people would do for you?

  • If you want people to engage with your social posts, be sure you’re engaging (more than a LIKE) with other people’s posts. Do it purely to help someone and without attachment. I guarantee you that energy comes back to you.
  • If you want people to engage in your groups, be engaged in other people’s groups. If you say you’ll do something, do it.
  • If you want people to show up for appointments they book with you, show up to appointments that you book.
  • If you want excellent testimonials and referrals, write excellent testimonials and recommend others.

What comes around goes around.

Show Gratitude for the Good Stuff

Send a hand written card or heart felt email of thanks to someone who helped you.

Praise people generously, especially online because it flows out to a bigger circle.

Give people a boost. It will give YOUR a boost.

Show Gratitude for the Hard Stuff

Teachers come in many forms. Recognize that something difficult might be a call to open your mind and learn something new.

Looking back in my life I can think of dozens of people and circumstances that felt hard but that woke me up. And that was a real gift to me.

Give People Social Love

One of the best things about social media is the way it can be a force for good. Liking is okay but you’d like more than that on your own posts, wouldn’t you?

Comment. Engage. Share what you know and what’s challenging for you. Both of those things help others immensely. And then you get helped.

See how this works? Prosperity wants to circulate.

When you make gratitude into a way of being every day, prosperity flows to you, through you, around you.

Keep that energy flowing. It’s a positive force. And we need more positive forces in our lives.

In the Next Episode: Awaken Your Money Making Mojo

Ep 52 – Listeners’ Choice 2019 – How to Enroll More Coaching Clients Without Being Salesy

Last week I shared the Listeners’ Choice #1 Best Episode and again it had record plays!

A shout out to Susan who wrote:

“So much truth. It was like a choir of angels harmonized in the background as I understood. Happy Anniversary to you and Prosperous Coach Podcast. You’ve helped me get to someplace new and exciting in my business, thank you.”

I love that, Susan!

Today, is another Listeners’ Choice Best Episode in 2019 — How to Enroll More Coaching Clients Without Beings Salesy.

I’m not surprised that this episode was super popular. For one thing who wants to be salesy? But also this episode also has a content upgrade – a downloadable guide you can get for free that walks you through my step by step questions to ask coaching prospects during your Discovery Session.

The questions actually inspire people to hire you.

Here we go with Listeners Choice for 2019 …

This is the first episode in a new series that I’m doing called Smart Mindsets and Systems. There’s a ton of juicy stuff that’s going to be in this series. 

Now, in this session we’re going to dig into something that I know is critical and also difficult for a lot of people — how to actually enroll clients.

How can do enroll coaching clients in a way that doesn’t feel like you’re selling?

How can you enroll authentically while standing in your power with ease and grace?

When I shifted to this method of enrolling, it improved my enrollment success rate. I’ve taught this to every coach that I worked with. It takes a little bit of practice, but it’s not hard.

It’s much easier than giving a free sample coaching session!

We’re going to get down into it in just a minute. This session is sponsored by my own free offer to you. 

I want you to have this cheat sheet that walks you through 10 Steps to Enroll More Clients Fast!

You’ll find this cheat sheet really helpful and it also includes some of the secrets I’ll share with you in this episode.

Have you ever choked when it came time to tell a potential client your fees?

This is where discovery sessions often go astray because you’re shifting a conversation that’s more connective with your potential client to suddenly trying to tell them what you charge and why it’s worth it. 

Have you spent hours delivering your best sample sessions only to hear “Thanks, but I can’t afford you”?

Those two problems are big for new coaches. You’re not alone in that. I struggled mightily at this once upon a time. 

If you want to dramatically improve your enrollment into coaching programs, there’s a different that inspires prospects to say YES and hire you. 

3 Shifts to Enroll More Coaching Clients

There are three shifts you can make right now that will ease the money conversation and the whole enrollment process in your discovery sessions.

Shift from:          Over delivering in introductory or sample session

Shift to:               Having more effective enrollment conversations

Shift from:          Stumbling into your pitch at the end of the session 

Shift to:               Being transparent from the get go that you’re enrolling

Shift from:          Timidly asking for the sale

Shift to:               Confidently owning your worth

Something clicks internally when you believe in yourself. It seems hard to do, but it is something you can control. 

A Powerful Mindset Shift

I’m sure you’ve heard how important it is in life — in business with your clients, with your friends and family — to stand in your power. 

This is something I’ve been challenged with in my life. So I’ve made a study of it. That’s my Teacher Archetype coming in there.

Everyone fears rejection when asking for significant fees. You start wondering, “Who am I to think that I can help this client and why would they pay me well for coaching?” 

That thought form can take over your mind.

The trick is to notice your feelings and thoughts, then take a moment to notice it and turnaround your thinking. 

Those types of fears stem from two main things.You’re forgetting to own your innate gifts. It’s as if you haven’t taken ownership of all the talents and gifts you bring to the table.

If you’re a new coach who might be thinking: “Well, I’m new, so that means I’m not that good.” But that’s just not true.

Own everything you bring to the table!

Flip Your Mindset

Blow off that mindset about being a new coach.

Instead of looking for the proof of your worth in other people, know that you are inherently valuable. You wouldn’t be listening to me if a part of you didn’t already know that.

Decide right now to own your gifts!

And please know I am not talking about arrogance here. I’m not talking about strutting around thinking you’re better than everyone. It’s about being at peace with who you are and living the power of your essence, your integrity and your humanity.

It’s super magnetic.

The Power Pose

A quick tip to be able to access your personal power at any time. It’s a little physical exercise and here’s what you do:

Stand up

Feel your feet

Sense your spine

Find your center

Breathe

Try it now. Just stand up, spread your feet apart a bit and access your personal power in connection with everything else.

Let’s say you’re about to get onto a call with a prospect, why not just take a moment and do the power pose? Then have your enrollment call.

Feeling powerful in your skin goes a long way to helping you become a master at enrolling your clients.

Seeding Co-Creativity and Choice in Your Potential Coaching Clients

So now let’s talk about how to empower your potential clients and detach from outcome.

Now that you’re in connection with your personal  power, simply enjoy the human being that you’re talking to. I feel so honored that I get to meet amazing human beings in my discovery sessions.

When you put your focus on enjoying them, it’s as if the spotlight comes off of you.

The other thing that seeds co-creativity and empowers your prospects is to set fees that pay you well and then stand firm in them.

I find that a lot of my new coaching clients are charging subsistence fees that are never going to help them make a good living as a fulltime coach.

What about you? Are you charging subsistence fees?

My guess is that you are thinking that that’s all you’re worth. Or, because you haven’t done something — certified, coached a lot — you feel that you have to keep low fees.

The truth is you haven’t started enrolling clients at higher fees yet because you haven’t asked for them.

$50 to $100 US per hour (convert to your currency) may seem like a lot if you’re working for a company with benefits. But as a entrepreneurial coach, you have marketing and website expenses plus health insurance and higher taxes to pay all out of your own pocket.

All of these considerations should go into how you set your fees. And I don’t even want you to think in terms of dollars per hour for your fees. (I’ll cover fees in more depth in another episode.)

Right now, if you know you’re charging too little, double, triple or even quadruple your fees. Just do it and then stand firm. The more that you charge higher fees, the easier it’ll get for you to attract excellent clients.

Trust that your IDEAL clients will afford your fees.

An interesting thing happens when you show up this way — enjoying the human being you intend to enroll, having set fees that pay you well and trusting that your ideal clients will afford you … clients feel that power and they step into their own power.

And so, for the highest good of all, your prospects feel at choice and choose from their highest self.

If you make concessions to enroll a client, you unwittingly disempower yourself and your prospect.

Take that in.

If your prospect does hire you because you discounted a fee for them, then your professional relationship begins out of balance. It is not co-creative.

Anytime that I have done that in the past, the client ends up becoming a burden.

Have you ever felt that a client has become a burden? It’s not a good feeling, right?

They’re not showing up enough because you’re carrying them and then you will resent the relationship and how hard you have worked for so little.

So you see that your fees are not just a pragmatic choice. And it’s not a choice about how experienced a coach you are or your money issues. This is really about integrity. It’s about the health and wellbeing of your relationship with your clients.

Attachment Stunts Your Growth

Attachment stops the flow of prosperity.

Let’s say you become attached to enrolling a potential client. Your expectation builds. And then if you don’t reach that outcome, then disappointment breeds and becomes toxic.

Detachment is seeing what is as perfection and that is freeing.

Do set intentions to achieve the things that you want. While you’re enrolling a potential client, if you feel they are a good fit, think to yourself: “For the highest of all, I’d really like to work with this client.”

Then, let it go.

Literally, open your hands and let go of attachment. Let the energy dissipate. Acknowledge what went well and aim for continuous improvement in your enrollment skills.

Whether potential client says ‘yes’ or ‘no’ neither diminishes nor elevates you.

Just bless their decision and bless yourself and move on. That signals the Universe that you’re serious about your success and it pays off in the short run.

Hold Back the Goods During Discovery Sessions

Do not coach or problem solve during enrollment conversations. That muddles what the discovery session is meant to be.

Why? Primarily, because they have not paid you yet.

If you were taught to do sample coaching sessions by your coach training school, know that the reason schools have you do that as a student is to get you out there having coaching experiences.

Now that you are not a student anymore and you are the CEO of your own coaching business, enroll clients in a professional way.

Sample coaching sessions are not set up well for enrolling clients at fees that pay you well. Here’s why:

  • They don’t uncover what prospects want in the long term that would inspire deeper investment for real value.
  • They tend to focus in on one bite size issue and they leave prospects feeling complete without the desire for more. Prospects are not hooking on because they don’t perceive a longer arc in what you can help them achieve.
  • Lastly, giving free sample sessions keeps you in the newbie frame of mind and offering session by session or monthly services for low fees.

So what do you do in a Discovery Session to enroll a client? That’s where my free cheat sheet comes in …

These steps will keep you out of the coaching role with prospects. They set you up for success because you are transparent from the get go about what’s going to happen in the session.

There’s no shock when you get towards the end of the session and tell your prospect about your program and your fees. They’re ready for it. They know it’s going to happen.

This step by step enrollment process works for any coach.

How to Earn More and Work Less

This enrollment process and the mindsets that go with it work beautifully with higher ticket programs.

But you’ll need to set your business up with a strong foundation for it to work for you:

  1. Target one unique viable audience that fits your specialty or build your niche around that audience and what they want so much, they’ll pay you well to get your help to achieve it. (This is your coaching niche!)
  2. Make your brand, messaging, marketing, website and offers congruent with your niche.
  3. Stop selling coaching. (Listen to Episode called Why is Coaching a Hard Sell?)

Your business could look like mine if you take these 3 steps. And that’s what I teach my clients.

  • I only need to work with 20 – 30 clients per year to earn really well.
  • I market very little to attract all of my clients.
  • I earn a lot because I deliver high value in a longer term package
  • My overhead is very low.
  • I only work with clients 3 days each week.
  • Most months I have a whole week off

If you’d like VIP handholding to become a coach in high demand with a business model like this, let’s work together. Try me out with a Strategy Session and we’ll go from there.

In the Next Episode: Get Prosperity Thinking Working for Your Coaching Business
Did you ever think about this — what comes around goes around … even in your coaching business. In other words if you put positive energy out to others it comes back to you.

Ep 51 – 2019 Listeners Choice #1 – Why is Coaching a Hard Sell?

I’m starting out here with an announcement … I’m proud to say that Prosperous Coach Podcast is 1 year old and going strong with over 18,000 downloads thanks to you.

I’m grateful for the continuous stream of enthusiasm I hear from you and how generously you’ve shared my episodes with other coaches.

Keep that up because coaches need this kind of community support.

We’re in this together. Whatever generosity you have towards other coaches comes back to you many fold.

Very soon I have a new series for you. I’ll be digging into pricing, packaging and all the mindset issues that I know coaches have about asking for fees that pay you well. I had them and I see the same limiting beliefs in my clients.

The good news is you can leap over those issues with a bit of coaching. I’ve seen lots of coaches go from stuck and limited to suddenly understanding why it’s so important to charge more than you think you’re worth in order to realize your worth and help clients transform significantly.

More about that and all the MONEY topics very soon.

To celebrate the 1 year anniversary of Prosperous Coach Podcast, I wanted to share the top episodes so far. Listeners’s Choice.

I’m not surprised that this is the clear #1 episode. And it’s so important for all coaches to hear. It’s called Why is Coaching a Hard Sell?

Listen closely. You’re about to have your eyes opened. And it’s in a good way that will help you succeed as a coach.

Click here to find the rest of the Show Notes for Why is Coaching a Hard Sell?

And tune in to another Listeners’ Choice episode for 2019.