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 taken from David’s interview with Bob Davies in 10 Super Coaches.
Roughly how much capital/money did you spend in the first 6-12 months, and on what?
Spent several thousand dollars in my certification program and other education, but most of my capital is geared towards marketing for the paid speaking engagements.
What did you charge your initial clients?
Now you’re bringing back memories. My first fee was $300 per month for four 30-minute calls plus an intake call of 90 minutes for an additional $300. Now my fee is $3,000 for the first month of coaching including the intake call followed by a fee of $1,500 per month for three 45-minute calls per month (non negotiable).
When did you first increase your fee, to what did you increase it, and why?
My fee increases all were linked to exposure and demands on my schedule. I first went from $300 to $350, then $450, then the big jump to my current fees over a period of about three years. I have the attitude that I want to be near the top of fees for coaching and that I never need a client but always want one.
The following is taken from David’s interview with Bob Davies in 10 Super Coaches.
What top three methods, in order, did you use to get your clients in the first 2 years?
My belief is that it is vital that coaches become public speakers. Find your passion in the field and book yourself to speak as the “expert” in the field. Coaching clients will seek you out.
You could also align yourself with other speakers, like myself, who are not looking for more coaching clients, but want the speaking engagement. Leverage your client relationships to bring in “speakers” who will create “buy-in” for coaching and position you as the ongoing follow up live coach.
Did you coach your friends and colleagues?
My fees are too high to coach my friends, plus my friends would not listen to me as their coach. Many clients have become friends as well although I do maintain the professional relationship first. I won’t sacrifice my impact with the client in the name of friendship.
