Inner Firewalking

The Challenges of Starting a Business

Posted by David Wood

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.

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Ginger Cockerham on Pursuing Certification

Posted by David Wood

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.

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Every Little Bit Helps

Posted by David Wood

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.

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Setting and Negotiating Your Fee

Posted by David Wood

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.

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Sign Up Clients

Posted by David Wood

The following is a transcription taken from Explode Your Practice.

David: I’d like to clarify, are you saying you want to coach her, make a contribution to her because she helped you out a lot

Ah no, not necessarily that, it’s just that she seems the ideal sort of person and she be compatible with

David: Ok Terry, I want you to forget everything I said before

Yeah Ok

David: How do you feel about saying what you just told me?

Yeah

David: Well it’s the truth. She’s seems to be doing really well, she seems to be somebody you’d be compatible with and she is successful and you feel there might be some other avenues she would like to focus on because she is already so successful in business

Yeah that’s right

David: I mean what a great thing to say and what is great about that to is that it is coming from your heart.

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Leaving Your Old Job Behind

Posted by David Wood

The following is an excerpt of one of David’s coaching sessions in Top Coaching Techniques.

David: Yeah. So, the truth – and we couldn’t have had this conversation a month ago without this example – the truth is an amazing thing. It will set you free, right? It could set you free from this job.

Client: But then, where does that put me? I still feel like I need to pay off a couple of more bills and make sure there’s money coming in. I know I have financial support now, but then that just brings me to my other issue, which is relying on someone else, which I’ve never done before in my life.

David: Yeah. So, I think you’ve got some things going on. I want to finish off on this truth thing, because we don’t know that that’s going to mean that your job’s gone. We’re just saying that you’re putting it at risk.

Client: Yeah.

David: It doesn’t mean that it’s over. You can go in and talk to her in integrity. Tell her whatever it is you’ll be doing for the company and winding up your stuff and totally working out the rest of your term. She might be grateful that you’re honest.

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Home

The Challenges of Starting a Business

Ginger Cockerham on Pursuing Certification

Every Little Bit Helps

Setting and Negotiating Your Fee

Sign Up Clients

Leaving Your Old Job Behind