The following is taken from David’s interview with Bob Davies in 10 Super Coaches.
What were the biggest doubts you had in your early months?
The only doubts I ever had was that it cost me money to actually coach clients. Each moment I spent coaching was time away from marketing my more profitable speaking business.
I continued to coach however, because of the impact and feedback from the clients and because of the long-term nature of the relationship. Also, the income was more secure than the unknown from the speaking engagements and a diversified source as well. I made a deal with myself, if I’m going to take clients, then here is the marketing I agree to do to compensate for the time away with coaching…
The following is an excerpt of David’s interview in Top Coaching Techniques.
Ingrid: You know, I have this theory that all you need is one good idea, David. For example, the guy that developed the bendy straw or Velcro or the zipper or your fireman hose – is it a bit more than just a good idea?
David. I’m so glad you said that Ingrid, because yes, I think it is. You could have the most brilliant idea in the world and make nothing from it, or you could have an idea that’s just good – it’s not brilliant like velcro, but it’s a good idea, people need it – and you feel passionate about it and you can actually really make some money from that and make a living for yourself. So, no, an idea alone is not what’s going to do it. You need some passion behind it. It does need to be a good idea that the world needs right now. You don’t want to do something that’s already being done, unless you can do it better. I think you need to start creating some systems for the business. It’s also really going to help to have a partner who’s got some experience in this. Take on a business partner, or get yourself to a really good accountant or business advisor or business coach who can help you with it.
The following is an excerpt of one of David’s coaching sessions in Top Coaching Techniques.
David: It sounds great that you hit that block, you kept on moving, and I’m grateful to these people who didn’t keep their appointments with you.
Client: Yeah, that was a real kick in the gut. It was like, ‘Oh, no. I knew it wouldn’t work.’ You know, I went into the whole self-doubt thing. Some of them did ring me and apologize, which I thought was great. When I went back, it was, ‘Oh yeah. Sorry.’ I said, ‘Would you like to reschedule?’ ‘Oh yeah,’ so I’ve actually rescheduled everyone.
David: Okay. I think this may have come along for a reason for you right now, being some kind of lesson here. Can you see what the lesson is, what might the lesson be?
Client: That it’s not necessarily about me, that maybe something else came up, and it’s not personal.
David: Okay, very good. I can see that as being a powerful lesson. I can see another one here, too. See, early on in my practice, I had a lot of people not be there for calls. I can have six calls scheduled in a day, and two or three of them wouldn’t be there when I called. Nowadays, that doesn’t happen. Nowadays, there are zero people not show. Even for the trial sessions, in different countries with different time zones, the people are there. It’s very few: maybe 20 percent aren’t there. Who doesn’t show up, the percentage of people that don’t show up is totally a function of who you’re being in setting up that call.
The following is a transcription taken from Explode Your Practice.
David: No, use it as a service for blended families. Let me lay out what I think you need. In your different levels. From no cost to higher up. The teleclass is easy to run and you can do a free report. Maybe an ebook but they take too long to write. Write a free report from your seminar with bullet points. Make it of value. At the bottom, promote your teleclass and newsletter and say forward it to those that can use it. And you can go to this web page for this seminar. Ask them to fly there. People are flying all over for things these days. Corey Rudl gets an international audience to hear him speak. You have a more limited market in seminars though. That’s why you need teleclasses.
The following is taken from David’s interview with Michael O. Cooper in 10 Super Coaches.
What was the most interesting or exciting thing for you about building your practice?
Three things, really:
- Watching clients arrive out of nowhere!
- Clients wanting to hire me even before experiencing a sample session/collaborative interview!
- Watching passive revenue dollars add up in my bank account – when I’m out at the beach or on vacation!
The following is an excerpt of David’s interview in Top Coaching Techniques.
Ingrid: Hey David, you mentioned that you have a couple of balls in the court – a couple of different businesses. When you have your own business, how do you stop that from encroaching on your whole life?
David: That’s a very good question and what some people say is, you really have to devote six days a week, minimum. I was reading that Dick Smith and other people say, ‘Get stuck into it and have no life.’ Now, I don’t actually believe that’s necessary. You can actually start a business with two days a week. If you have a job already, you don’t have to just quit and go on and start something new. Again, take the guy making chili in his backyard – spend two days a week starting to develop the business and then get a small profit. Make a small profit and then you start expanding it. So, you may initially be working two days in the business, and then you expand it to three, and then four, and eventually do it full time. But, as I said, you start making systems out of the business and start hiring – for example – a high school student. Then maybe someone else who’s more qualified for another role, and build it up. You don’t have to be working in the business. That’s a job, not a business.
