I could rave to you about how to ‘do’ great coaching, but I won’t.
It’s excellence in our own lives that counts.
Who are you?
Who are you as a person – that someone would want to work with you?
That they would want a ‘piece’ of your energy? That someone would say, “That’s the type of person I would like to become.” “I want a life like that.”
Are you:
Loving your life? Can you find gratitude, are attractive to be around, and things keep getting better?
Responsible for your life? Instead of complaining about what happened, you say, “What did I do to create this, and why?” You forgo excuses and blame.
Feeling all your feelings honestly? Without letting them rule you, or on the other hand suppressing them?
Going for everything you want? Or at least being honest where you’re not?
Risking in your life? Saying the things you’re scared to say, even at risk of losing a relationship? Doing the things you fear? Thinking bigger? Letting go of your safe nest for what is next?
Taking care of yourself? Are you giving you what you need? Do you exercise and eat well? Do you rest when you need to?
Keeping your own standards of integrity? Paying ALL the tax you know you should? Do you pay for software and CD music? Are you on time? Do you let go of the clients you know you’re not helping? But don’t stick to my standards; stick to yours!
The following is an excerpt of one of David’s coaching sessions in Top Coaching Techniques.
David: Think of the cost of them not getting their stuff right. The cost is unbelievable. You probably use that in your sales, but whatever they’re paying is worth it, because the cost of them not getting their stuff right is astronomical.
Client: It’s significantly more. This is why the top executive search firms charge about 33% of salary and we charge 12½ to 15%.
David: Why is that?
Client: Good question. It’s like selling Porsche or Rolls Royce. They have absolute market reputation and they’re dealing with the organizations that can afford to pay that. However, we were a long way from there, so we started at 12% so we could be competitive and get in the door. Raising the price to 15% was the easiest thing I ever did. No one even said anything, and it gave us a massive increase in profits. The reason we do 12½ is because we realize that there’s some value in customers who work with us exclusively, so we give a discount and some other benefits.
David: Imagine if you charged 18 and discount to 15 or 12½. You have just created a bigger discount, a bigger value for them. Then they’ll be saying, ‘Wow, I can get 5 ½ percent.’
The following is an excerpt of David’s interview in Top Coaching Techniques.
Ingrid: Know what David? I’m going to put my cynic hat on here. That is, what about all that paperwork and guff and BAS statements and paying the bills that come for you, if starting your own business?
David: Yeah, there’s a lot that comes with it. One of the traps that people fall into is, they start working in the business and they take on something, and then they find that really, this is just another job where they’ve got ten times more responsibility. Ten times more work and less pay than before. So what’s really important is, once they get started in the business, you start setting up business systems so the business starts running itself. Start bringing on employees and people to help so that you don’t just have a job anymore, but it actually runs as a business instead of a job.
The following is taken from David’s interview with Ginger Cockerham in 10 Super Coaches.
Would you advise coaches to pursue certification?
Absolutely, it is a great confidence builder and adds credibility with prospects, particularly companies and professionals. In a newly emerging industry like coaching, there is uncertainty in organizations about using unproven people and solutions. Credentialling is a way to reassure prospective clients. Also, media attention is most likely to come to you if you are credentialed by a major coaching training company or coaching organization.
I encourage the coaches I mentor to start the credentialing process at the beginning of their coaching business. For example, to find out what are some of the criteria for credentialing and start using the proficiencies and tracking clients immediately, so when it is time to apply for credentials, most of the required information is ready.
The following is an excerpt of David’s interview in Top Coaching Techniques.
Ingrid: It’s hard sometimes, especially if you have a young family. The needs of family, and perhaps the families of other people, make it difficult to even save a little bit. Can a little bit help?
David: It can make a big difference. Saving $50 a week, instead of using $200 to go out, can change your outlook. Start with saving, so it is a practice. Most people pay all sorts of expenses and say, ‘I’ll save whatever is left over.’ Do not try this at home. Your expenses will always expand to your income. Pick a goal, work out how much you need, and set a savings target. Then slash out expenses. First put in bank, and then live on the rest. Play a game called ‘How to Live on the Rest’.
Client: That’s like turning your savings on its head though.
David: It is. Right. ‘Pay yourself first’, I read once in a book. Put it directly into a bank account. It can be painful to slash expenses, but when you’ve been putting $200 in the bank, and this is what we have to live on, it becomes a game.
The following is a transcription taken from Explode Your Practice.
David: See, what I’m learning about pricing is that you really get, people are looking to you for initial clues on what the value is.
Right.
David: Now if you give them an initial clue that this is worth about $50.00 a month then that’s how they’re going to treat it. If you give them initial clues that this is worth $1,000 a month, you may hit resistance when they look at other things in their life that they compare it to and they go hang on how can that be. So you may need to create a shift in them and you may need to set a certain target market to make sure they’ve got the money to make it easier. But you know, people can pay a thousand a month, and they do for certain things. It might be a holiday or it might be for a Tony Robbins course because it sounds so good.
