The following is taken from David’s interview with Jim Earley in 10 Super Coaches.
Roughly how much capital/money did you spend in the first 6-12 months, and on what?
I already had a computer. I would have purchased my time and billing software ($200), and initial business cards ($30). My ongoing expenses would have included, paper, envelopes and postage, membership dues, meals, and automobile expenses.
After a year or so, I spent the best money ever on a high quality business card with a particularly evocative label. I bartered the design, and spent $400 on the cards. They were cool. Made a statement. Got noticed every time I used them. Bolstered my confidence, big time.
Some time later, I had a brochure printed. My attitude towards brochures is that they might be an important process to experience, but they’re probably not an important tool to have.
The following is taken from David’s interview with Jim Earley in 10 Super Coaches.
What method did you find most effective in getting your initial clients?
My initial method involved a lot of stumbling around, occasionally getting in front of people, and being of service. What worked was facing my fear, meeting people, and being of service (although I didn’t understand that was what I was doing).
I think it’s more important that you find out if you have the courage to keep going than it is to know the best and easiest way to find business. If you don’t overcome your fears and limitations, what good will you be as a coach?
If I could give my younger self my best advice it would be this: When you meet with people, worry less about what you hope to get, don’t think at all about how desperate you are for a new client. Just serve them. Keep honing your understanding of how you best serve.
The following is taken from David’s interview with Jim Earley in 10 Super Coaches.
What top three methods, in order, did you use to get your clients in the first 2 years?
Normally I wouldn’t mention this one, but the thing I did the least, but which brought me the client that kept me in business, was cold calling HR directors. I only pursued the torture of cold calling for six months, but netted a client that provided up to $25K in revenue in a couple of years.
I joined the Minnesota chapter of ASTD (American Society of Training and Development), volunteered to serve on the newsletter, became newsletter editor, and was invited to join the board. I participated up to my ear lobes in that organization for about five years. That gave me lots of visibility and credibility with people in the training and development circles.
I also bartered a membership in an Inner Circle group; a facilitated peer coaching group for business owners. This was a miracle of the highest order. It gave me the opportunity to rub elbows with people accustomed to making a lot of money. It also gave me a source of accountability (I didn’t want to look like a chump there). In time, it led to some business.
The following is taken from David’s interview with Jim Earley in 10 Super Coaches.
What advice would you give coaches about charging clients?
Even though it is a competitive market place, even though people are paying for stuff all the time, most people expect you to set your own rate and won’t argue it. Decide on your rate and go for it. If you’re uncomfortable with it, people will pick up on that and question you. If you’re not uncomfortable, they won’t question it.
Don’t ever expect to raise your rate to an existing client over any short period of time. By definition, they ARE getting less value. Maybe after years and years, you can raise it, but not over a couple. I charge corporations more than small businesses and I charge small businesses more than I charge individuals.
The following is taken from David’s interview with Jim Earley in 10 Super Coaches.
What training, experience and qualifications did you have when you started coaching?
Well, firstly I had some solid academic qualifications. Aside from those – although I had no specific coaching training – by the time I came to coaching professionally, I had:
- Taken one college class and one honors program on interviewing.
- Taken classes on interpersonal communication and non-verbal communication.
- Read every book David McClelland had written on motivation as well as others.
- Taken one year-long program devoted to the nature of listening.
- Spent five years developing an internal style of coaching as a swimming coach.
- Developed an approach to problem solving.
