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 Earnest F. Oriente in 10 Super Coaches.
What words of advice would you give to a coach starting out?
Have fun in your business, enjoy the clients you’re working with, and quite frankly, be the very best coach that you can be, because people in your hands are giving you their lives and they’re asking for your help. So be very respectful, always, of the work you’re doing.
Be clear on your passion. Have a passion for the work you’re doing. Recognize you’re touching the lives of people that you’re working with. Be clear on the work that you’re doing, that it’s fun, that it’s joyful, that you love the particular clients that you’re working with.
But never lose sight – this is sort of Covey’s principle ‘focus with the end in mind’. As you look to the horizon what’s the next step?
If I were looking at the horizon, initially: I needed to replace my income from my corporate days. But really from there it was, number one: subscribers. Number two, more subscribers. Number three, now I want to be in the magazines, the same magazines read by those subscribers. That was the next step. Then the next step, I wanted to have some alliances and even more exposure, speak at upcoming conferences. And then there was the next step, writing a book to tie it all together. I’ve always been able to look over the horizon twelve, fifteen miles in front of me and say ‘what does the next parade look like?’.
So I would encourage those coaches who are thinking about their business to work both in their business, but don’t forget to work on your business. Have a vision for what the bigger game is. Have a vision for what the next parade is.
The following is taken from David’s interview with Leza Danly in 10 Super Coaches.
What are your coaching niche(s)? How did you discover this?
In the beginning, I had a niche of actors and entertainment people just because they were the people I knew. I loved helping actors make successful careers for themselves. It had been my favorite part of being an agent.
Now my niche is defined not by profession, but by personal depth. I only work with people who know they are on a spiritual journey of embracing responsibility and magic, people who want to become skilled at transforming reality magically and powerfully.
How would you suggest coaches find their niche?
Look to your passions. What do you love? Who do you like to talk to? Who would you most want to support? It might be a particular group, like mothers or prisoners or artists, but I find that niches defined around BEING issues are more powerful than defining it by what one DOES.
The following is taken from David’s interview with Ginger Cockerham in 10 Super Coaches.
What top three methods, in order, did you use to get your clients in the first two years?
Referral Engine – I chose a niche of people who are generous, and let them be my advocates! My clients in the financial services industry are dependent on referrals to grow their own businesses, so they refer naturally, regularly and generously.
Media and Presentations – I love to write so I wrote a monthly column in Today’s Dallas Woman for two years with coaching themes. I presented and coached during those presentations to organizations, financial services companies, study groups for financial reps.
Networking – I became active in the coaching community and volunteered and took leadership roles, I gave back to my clients and community, I shared and received from many, many other coaches, I formed a networking group with other professionals and helped grow their businesses while they helped me grow mine.
The following is taken from David’s interview with Mike Turner in 10 Super Coaches.
What are your coaching niche(s)? How did you discover this?
My niches are executive coaching and mentoring, transition coaching, and metavising/supervising other coaches. I discovered these by noticing what the work I was actually doing was, what I felt drawn to do and what I enjoyed.
How would you suggest coaches find their niche?
Discover what you are naturally good at and do it. This sounds easy but is often quite difficult since we tend to be blind to what our natural gifts are. So, notice what interests you, what you feel drawn to, and what you enjoy doing. Get feedback from people who know you, about what your natural strengths and talents are.
Then go with the flow of what is already present and seek to expand and enlarge it so that what you do is aligned with what you love and what you are naturally talented at.
Would you advise coaches to pursue certification?
I did as soon as I could, through I haven’t surveyed my clients to see if my certification influenced their hiring me. I think with the number of people who are calling themselves coaches with questionable experience and training that the public will eventually look for certified coaches.
I recommend certifying as soon as you can and I think the ICF has the most credible independent coach certification credential.
Are there any particular schools you would recommend?
The Coaches Training Institute is where I did my primary training, from my connections to other coaches over the years, I would also recommend (in alphabetical order) Academy for Coach Training, Coach For Life, The Newfield Network, and Success Unlimited Network.
