The Ins and Outs of the Coaching Business- Part Two

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We’re in a series right now giving you everything you need to know to start or grow your coaching business. If you missed part one, check it out here.

The thing that I hear constantly, and what I know some reading this are thinking is, “why would anyone listen to me?” We live in a time when there’s a lot of information. However, you would be surprised by what people know. The topic that you think has been covered enough hasn’t. If you are in this online space there are a lot of things we all know and get tired of hearing. People that aren’t in this online space don’t know what we see everyday.

We know things because we read the same blogs, listen to the same podcasts, and watch the same videos. We’re used to what we see everyday, but the non-online world person has NO clue about these topics. You can still teach your topic to a HUGE audience that hasn’t heard it, or hasn’t heard it in the way you teach it. This is why, with the right training, anyone can become a coach.

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Pricing

Ok, so we’ve established that you can coach, and that coaching can be a profitable revenue stream for you. Let’s talk about the money part. Pricing for coaching can be handled in two ways.

Per month pricing

In this model you charge a monthly fee and for a certain period of time. The standard period is three months. In that month you have to decide how many “calls” or “sessions” you will offer. I have seen this vary from one call a month to one a week. (more…)

The Ins and Outs of the Coaching Business- Part One

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The School of Coaching Mastery estimates that the average executive coach makes $325 per hour, the average business coach makes $235 an hour, and the average life coach makes $160 per hour. I charge around $250 per hour. With over 2.5 billion people online daily, the amount of revenue made through coaching can be significant, and enough to quit your day job.

The money’s there, but coaching isn’t for everyone. More than that, most people have questions about how to start or grow a coaching business. We are in a series about practical strategies you can use to build a business that supports your family, and do it by the end of 2015. We’ve talked about hosting your own conference for little or no money, and getting booked on TV. Let’s talk about how you can build a profitable coaching business as a part of your arsenal.

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You can coach 

One of the biggest objections I hear from people who want to start a coaching business is the question of their credentials. We question our self at one point or another as to whether anyone should or will listen to us.

First, realize that the best “training” you can get is experience. If you have experienced something and triumphed through it, you’ve been trained on the most important part of coaching. Learning something in a book or course is not the same as going through that situation in real life. If you have the experience, you can learn how to help people in the most effective way. You have what it takes to be a coach. Don’t let haters keep you from making an impact in someone’s life.

The “free” consultation call

Since August of 2011 I have given away 127 hours of free coaching. Yes, that’s an accurate number because I keep track. One could look at all those hours as a lost opportunity, but I view it as my training on how to coach. I am a better coach because of that on the job training. I don’t however, recommend you do the same. (more…)

How to Get Booked on TV- Part Two

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Jared, Donald, Laura, and John. Picture used with permission.

Aloha and welcome back! If you missed part one of this series, head back and check it out here. In part one we talked about getting booked locally, and targeting the weekend morning shows. We also talked about the three types of approaches.

I always try to give you more than my opinion. In my research, I found some stats on what a TV appearance has done for some restaurants. They all experienced their businesses doubling. Ok, let’s talk about where we are. Tim Ferriss credits his TV appearances as a big part of why his books hit the New York Times bestsellers list. Personally, after one appearance on a morning show, I added $4,000 in revenue. I’m guessing I don’t need to convince you of the value of a TV appearance. So let’s continue.

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Third, contact the “associate producer”. The associate producer is the person in charge of finding content. They have the authority to book you. The best time to reach the associate producer is between 10:30 pm and 2 am. They are starting their shift at that time and aren’t as busy. If you wait, they’ll be doing a thousand things and won’t have time to talk. (more…)

How to Get Booked on TV- Part One

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Me speaking to the Kenyan media at a press conference for an event I spoke at last year.

The New York Times estimates that the average American watches five-hour a day of TV. It’s also estimated that the morning shows of TV stations get 13 million daily viewers. Although 2.5 billion people will be online today, people still watch, and give weight to TV. It’s the equivalent of having a traditionally published book.

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At the end of 2012, my business had taken off. It was generating income, but I was looking for ways to put a cherry on top of the cake. A friend suggested I book an appearance on some of our local morning shows. He taught me the strategy I’m going to teach you about in this series.

Here’s what you should understand. It’s not easy to get on TV, but these shows have to air a wealth of good content, and do it everyday. They are always looking for interesting pitches, and they don’t want to miss a story.

When I did finally get on some morning shows in late 2012, my local business exploded. I got consulting work, coaching clients (I didn’t really think of it as coaching because I had no clue what I was doing), and people at my live events. TV also helped me get better placement for my book in bookstores when it came out in May of 2013.

Writing for large websites, getting booked on podcasts, and social media marketing are great ways to build an audience, and promote a product that you’re selling. TV however, is an incredible way to get exposure in front of millions of people. I will also say it’s a original way of marketing because how many people do you know that get booked on TV? I don’t think I need to convince you of the value of this strategy, so lets talk about how to do it!

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First, you should start by targeting the weekend morning shows on your local TV stations (your local ABC, NBS, CBS, Fox affiliates and so on).  Always start local. I prefer local because that’s where you know what’s going on and probably have a connection. (more…)

How to Host Your Own Conference For Little or No Money- Part Three

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Building a freedom business involves many components. One that appeals to many entrepreneurs is public speaking. In this series we’ve talked about speaking at conferences, booking consulting at companies, and hosting your own conference for little or no money. If you missed part one, or part two, head back and check out what we’re been talking about.

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I hope you’ve seen that hosting your own conference is not only a reality, but also something that you should try at least once. I’m an introvert, so I know what you’re thinking fellow introverts, but this can be profitable and build your business.

Think about the math behind this. You host a conference that charges $97 a ticket. You can get the conference sponsored, which means everything you make is profit. If you don’t, you can keep expenses down by renting a place for $100-$150, you buy lunch and juice, which would cost close to the room. Let’s be generous and say your expenses are $400. When you get five people you’re profitable, but what about beyond that?

What about when you get 10-20? What if you hosted the same (or different) event once a month? When you think about it that way, it becomes a serious source of income. I have two clients that host a different event every month and earn $4,000 after expenses. Not bad at all.

The extras 

We’ve talked about making money from the event, but what about other ways to monetize? THIS IS YOUR EVENT! Meaning, you can promote your other products and services to an audience that has already proven they’re willing to spend money with you. That is the definition of a “hot lead.”

I’m not telling you to make your event a hype machine where you try to cram your other offerings down people’s throat. What I am saying is WHEN you give over the top value; don’t be afraid to mention other offerings that could benefit those attending. (more…)

How to Host Your Own Conference For Little or No Money- Part Two

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This is the poster for one of my events.

Aloha everyone! We are in a series right now on how to host your own conference for little or no money. If you missed part one, check it out here. In part one we talked about what a conference can be, the three types of paid speaking, and how to find a place for a reasonable price. I teased you about the free part last post, so let’s get into.

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Sponsors

The way you can host your event for free is to get sponsors; this is what I did for my second event. I got a local print company to sponsor my entire event; they cut me a check for $2,000 in return for advertising their business on all my material, and at the event.

There are companies where you live that would sponsor your one-day training, you just have to show them the value. Abbie Unger (coaching client) hosted her first event completely sponsored.

My suggestion is to approach small to medium size companies. You want to be able to talk to a person (not send a cold email), and especially a person that can write a check. Offer to take this owner or manager out to lunch and give them the readers digest version of your vision for this event. The key is showing them the value. How do you do this? The short answer is leverage anything you can.

If you have a decent social media following, tell them you’ll be promoting their company on your platforms. If you have spoken before, use that. If you write for large websites, show them that. Large websites can be juicy leverage.

Believe in yourself and the value you provide, and it will come through in your pitch. Realize this, you’re not asking for $10,000. My guess is you’ll ask for $1,000 at the most. If you show him or her you will fill this event and advertise that company, this will be a no brainer. Tell them they’re getting in on the ground floor of what will be an annual event. (more…)

How to Host Your Own Conference For Little or No Money- Part One

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Aloha everyone! Can you believe we have less than two months left in 2014? As we end this year, now is the perfect time to start planning for 2015. My hope is that you’re planning to create freedom in every area of your life in 2015. I want to help.

For the rest of this year, I’ll be writing about some things to help you create that freedom. I’m going to give you everything that’s helped me lose 170 pounds, quit a job I hated, and move our family to Maui, Hawaii. Let’s start with how to host your own conference affordably or for FREE!

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In the paid speaking world there are three ways to make money. The first one is speaking at conferences. When we think of a “conference”, we think of an event like New Media Expo. However, these big events *usually* do not pay speakers. Because they’re so popular, many speakers gladly come and speak for free.

If you want to make money speaking at conferences, your best bet is to speak at the conferences of industry associations. These industries could be healthcare, lawyers, auto, and so on. Speaking for these associations doesn’t mean you have to talk about their industry. You can talk about topics to help their industry, and these are the topics they want to learn more about.

I used to live in Milwaukee; Wisconsin, which is next door to a huge speaking market, Chicago. I would regularly travel to Chicago to speak to healthcare professionals about how to better use social media, and I got paid a pretty penny to do it. Research the industry association meetings where you live, and send them a pitch. Those associations have plenty of money to pay you to speak. We’ll get into this later in the month.

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The second way to book paid speaking is consulting at companies. Since I have written a lot about this, I won’t talk about it here. You can see that series here.

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The third way to book paid speaking is what I want this series to be about, hosting your own event.

Why your own event?

Hosting your own conference is the ultimate goal of any speaker. You bring people to your event where you control everything. You have a chance to make money, and even more money, by selling your products and services.

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5 Ways Your Business Can Stand Out From Everyone Else

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As we speak, there are 900 million websites, 250 million blogs, and 175,000 blogs being added everyday. To say there’s a lot of competition is an understatement.

Many people start a website in hopes of building an online business that supports their family. They work hard at this website with excitement for months. After not making traction, not getting many visitors, and not making any money, they quit in frustration.

As the months go on, they tell themself there’s too much competition. While this may be true, there are ways for your business to stand out from the crowd. There are ways to start small and build a business that supports your family.

It took three years, but at the end of 2012 I was able to celebrate my “freedom date.” It took three years, but if I knew back then, what I know now, it would have been a lot sooner.

As you’re reading this I want you to know that no matter where you’re at in the process, you can build a business that supports your family. It’s not going to be easy, but it is possible. Here are five ways you can stand out from all the competition.

1. Don’t take for granted what you know

The thing that I hear constantly, and what I know some reading this are thinking, is “why would anyone listen to me, plenty of people are already saying this.”

We live in a time when there’s a lot of information. However, you would be surprised by what people know. The topic that you think has been covered enough hasn’t. If you are in this online space then there’s a lot of things we all know and get tired of hearing. People that aren’t in this online space don’t know what we see everyday.

I’ll give you an example. Have you ever heard of John Maxwell? Probably everyone said yes. John Maxwell was trying to put on an event here in Maui, but the organizers shot it down because regular people here have no clue who he is. The same goes for any big online person you can name.

We know them, and are used to them, but the non-online world person has NO clue who these people are. If you said Brad Pitt, that’s a different story. You may know someone, your blogger friend might know something, but a majority of people don’t, and need you to teach them. You can still teach your topic to a HUGE audience that hasn’t heard it or hasn’t heard it in the way you teach it. (more…)

5 Reasons to Stop Chasing Influencers

I originally wrote this article for Entrepreneur Magazine. I wanted to share it here because the message is super relevant to those building their dream. Jared Easley and I believe in the message so much, we just cowrote a book about. Details soon… 

You probably heard, when you were starting out to build your business, what I call the “influencer shout out IMG_2808strategy.” You were told to try connecting with those at the top of your industry by sharing their content, commenting on their website, and emailing them.

You’re told you have to be persistent and add value to get them to connect with you. Your goal, of course, is to get a response, kindle a relationship, and introduce them to your business in the hopes they will promote it to their large audience.

This standard advice is actually a poor way to build your business and takes time from better strategies. Here’s why.

1. Too many people are trying to chase them with you

If you’re trying to connect with an influencer just to promote your business, they’ll see right through it. Influencers are smart entrepreneurs who can smell fake motives a mile away.

Beside yourself, there are countless people trying to connect with them just like you. Chris Gillebeau, the New York Times best-selling author of three books, told me in an interview that he receives 200 to 300 emails everyday. Chances are a good that many are from people trying to connect with him to promote themselves.

Your attempts to connect with an influencer will get lost in the crowd and chances are it won’t even be seen because they have protocols in place to keep the multitudes at bay. Persistence will only help you to come off as a stalker. (more…)

5 Reasons Why Social Media Marketing Is Overrated

I originally wrote this for Entrepreneur Magazine, but wanted to repost it here because the message is important. A lot of folks got mad about this one, but I know those that read my blog will get it. This isn’t a post saying “never use social media.” My goal is to open your eyes to the fact that social media shouldn’t be your main marketing strategy. Enjoy…

You’ve seen it right? You log onto Facebook to see what your friends are up to and you see the sponsored postsScreen Shot 2014-09-07 at 8.33.03 AM promising to teach you how your business can make seven-figures through social media marketing.

Everyday you’re bombarded with social media experts that have “made seven figures plus from social media.” You see the ads and you wonder if social media marketing is the missing piece of the puzzle to help your business grow?

First, I believe that social media can be a great way to get new leads for your business. You can’t deny the opportunity when you look and see the billions of users on the various social media platforms.

However, social media marketing isn’t what it used to be and the landscape is vastly changing. As tempting as those sponsored posts are there are some things you need to be aware of before deciding to invest your time and money in social media marketing. Especially as your main marketing effort for your business.

Social media marketing can help your business but don’t buy into the belief that it’s the most important part of your marketing efforts. Here are five reasons that show why social media marketing has become overrated. 

1. The organic reach is pretty close to zero.

If you look at the two largest social media platforms: Facebook and Twitter, you’ll see that the average life span of a tweet is 18 minutes according to the Moz Blog. Jeff Bullas, a leading social media expert, estimates the organic reach of Facebook is around 2.71% or less. (more…)