Ep 122 – How to Ace the Money Conversation with Coaching Prospects

This episode is inspired by brilliant coaches everywhere who, no matter how many skills and talents they bring to the table, are afraid to own their worth and go boldly into the money conversation.

Take On The CEO Role and Own Your Value

Chances are you came to coaching from a job where you were paid a salary or an hourly rate. Someone else set that amount. And you received the same basic paycheck over and over.

The control was out of your hands. And you probably just did the job without thinking a lot about the money piece.

Now, you are the boss. You are the CEO. You decide how much you charge for your services, how much you earn and when you pay yourself.

It’s time to make that mindset shift. Own your role as CEO of your business.

Have you done that yet? You’ll be amazed at the difference in your self-esteem when you do.

If you take on that role with enthusiasm, you’ll pay yourself well. You’ll stop doubting your value and thinking small.

Look, I get it. I started out doing group coaching at $10 per person for a 3 hour face to face experience. That meant I was earning about $27/hour. But really less because it didn’t take into account all the time I spent developing my program and marketing to attract prospects.

My first year as a coach I only made $5000. That’s not a living. That’s a hobby.

You decide if you have a hobby or a serious business. You make that happen.

There’s a fear, right? It seems more strategic somehow to charge low amounts. As if you’ll have less rejection. As if lower prices will attract ideal clients.

That’s a lie you’re telling yourself. Valuing yourself less doesn’t make prospects value your services more.

And I have proof that higher prices enroll more ideal clients with less hesitation.

There’s an old story in your mind. Lessons you learned when you were young about value and money drive your decision about how much your services are worth. You may think it will take years to change your story. But actually you can make that shift in a moment.

I’m diverged from my topic today because I’m passionate about this.

This episode isn’t about how much you charge. For help with that see episode #60 How to Price Your Signature Coaching Program.

It’s also not about how to raise your fees, which you can find in episode #57.

This episode is about how to approach and then ace the money conversation in a Discovery Call — which is an enrollment opportunity that you set up with coaching prospects.

Ace the Money Conversation with 5 Tips

By the way, the Discovery Call is not a free sample coaching session.

Sample sessions are for brand new coaches trying to fulfill the requirements for certification. It’s a great way to learn how to coach, but honestly not an effective approach to enroll ideal clients who will pay well, stay longer and refer more ideal clients.

So there you are in the Discovery Call, you’ve asked some powerful questions to reveal what’s top of mind for your prospect.

What specifically do they want so much that they are inspired to invest in your help?

What’s been in the way of those goals that’s costing them

time, heartache … maybe even lost opportunities?

So now you say “Are you ready to hear how I help my clients?” You finish that sentence with the specific goals they’ve just told you about.

Now you’re ready to tell them about your program – the specific milestones you help them reach and the challenges you help them overcome.

You share how many sessions they’ll get and anything else you’re offering in your Signature Program.

Obviously it’s critical to strategize all of these things before you’re on the call.

This is the moment … it’s time to share the price of your Signature Program. Use these 5 tips:

  1. Intentionally relax your jaw and shoulders. Open your hands.
  2. Keep the same pace and inflection in your voice as when you were asking the powerful questions earlier.
  3. Let go of attachment to the outcome of enrolling this client. Act as if you have a full stable of clients already.
  4. Release the idea that it’s your job to convince this client to hire you. Never convince anyone. Know that this human being will make the decision that’s best for them.
  5. Remember, their decision does not define you. It doesn’t mean anything. Bless them, bless yourself and move on. But do ask yourself if there’s any way you could improve.

You can do this!

Ep 106 – Can You Manifest Coaching Business Success with Your Mind?

I’m going to share something deeply personal in this episode, which is super short. This is part of my Money Master series.

When I launched Prosperous Coach in 2006, I was a new student of prosperity. At that time I called myself a spiritual coach and the basis of my work with other coaches was about the power of prosperity thinking combined with strategic actions.

I created a membership program with 22 weeks of study called The Coaches Power Path.

I stumbled upon a book that made a big impression on me called True Prosperity by Yehuda Berg. The concepts in the book are based on the Kabbalah – the word literally means receive.

His idea is that fear of success is inverted ego.

Fear is not a wall keeping you from what you want but rather fear arises to pinpoint what you need to focus on.

Fast forward many years … now I have a few practices for my business that I believe help me focus on what I want and to detach from outcome. They reduce stress and worry while setting strong intentions.

Am I a master at these practices? No. I’m still a student of prosperity continually working on removing mental blocks about my own success. It’s good work that takes time.

And … this is important … I’m not a believer that it’s wise to sit on a cushion all day and think prosperity into existence.

My idea is that I EARN fulfillment

through both strategic actions and beliefs.

To assist the process I’ve devised a few rituals. Carl Jung said something like … rituals are how the conscious mind communicates with the unconscious mind.

So at the risk of you thinking I’m a kook, I’ll now share 4 things I do ritualistically:

1. When I receive a notification that someone has subscribed to my podcast, I greet the person in my mind and send wishes that they:

  • get great value from listening to my podcast
  • are inspired to share my podcast with other coaches
  • rate and review my podcast positively, and
  • invest in my services IF we are an ideal fit.

I end by saying “For the highest good of all and the free will of all.”

2. When someone applies to work with me I pause to acknowledge their courage for reaching out. I read what they’ve shared and respond quickly and personally. I send energy with my response that they only enroll if we are an ideal fit. I’ve created a thoughtful list of what makes a client ideal for me.

3. When money arrives – whether in my bank account, a notice of fee payment in PayPal or an actual check – I pause and feel gratitude. I receive it.

4. When I pay bills – even if it’s a notice of an automatic payment – I feel grateful for the privilege of that service.

There are some days when I don’t feel like taking the time for these rituals. But I do them anyway. Because consistency is the power behind the practice. I’ve noticed a stark difference between the periods of time when I’ve let the practices slip or done them habitually. There’s an overall decrease of stress and financial worry and a dramatic increase of ideal client and income flow.

Now, what practice or set of rituals could you put in place that will help you manifest your coaching business success?

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