3 Ways to Grow Your Coaching Business Faster
'How to grow your coaching business faster'
It's one of the common problems coaches struggle with… and it's also the problem that most clients come to me to solve...
So, lemme give you some gold nuggets!
First up, I am going to suggest there is a deeper, and more powerful question that we can use to goes beyond just simply asking "how do I grow my business faster...?"
"How can I more intelligently, systematically, authentically and joyfully use my business as a vehicle to serve as many clients as I can, and add more value than ever before, and make more impact in their lives to also create more money, meaning and freedom in my life than ever before?"
I like this question a lot more because it speaks more from the heart, and takes us deeper into living a richer way of living.
For now, I am just going to cover the basic fundamentals and give you some quick wins, and I will go deeper into these dimensions in the next few emails (so keep your eyes peeled for these in the coming weeks)….
As my marketing mentor Jay Abraham says, when you boil it down to the basics, growing a business is really simple… because there are fundamentally only 3 WAYS TO GROW A COACHING BUSINESS...
1. Increase the number of clients. I.e. GET MORE CLIENTS
2. Increase the average transaction. I.e. INCREASE YOUR FEES
3. Increase the frequency of transactions, I.e. GET MORE REPEAT SALES
1. GET MORE CLIENTS
- Get more sales Appointments/conversations.
- Improve your sales conversions.
- Improve your sales process.
Questions to ask to get more clients...
- How many appointments are you getting per week? You should be setting and tracking benchmarks for conversations every week.
- What is your sales conversion rate? I.e. number of client sales divided by total number of conversations. I.e. upwards of 30% for 1-1 clients is excellent
- How well does your marketing and sales process efficiently qualify, overcome objections and pre-sell prospects so you reduce the time taken on sales calls?
2. INCREASE YOUR FEES
- Deliver better results (More advanced coaching skills, better delivery structure, and systems).
- Improve your speed of delivery (Faster Results). Develop a repeatable process (system) customised specifically for the client's problem.
- Choose a higher value problem to solve (Niching/Positioning). Select a Niche that is willing to pay you more.
Questions to ask to raise your fees…
- What coaching skills and expertise do I need to learn to create more impact for my clients in less time?
- How can I systematise my coaching processes and structure so my clients get better results?
- How can I position myself to solve a more specialised problem or a different market that will pay more for my solution?
3. GET MORE REPEAT SALES
- Increase Re-enrollment clients for more solutions after they finish with you
- Offer upset products and programs to compliment your services
- Setup a referral system to make it easy to help your clients to share your services with their network.
Questions to ask to get more repeat sales…
- Do you have a Re-enrolment process to help clients expand their vision for their life after they finish their program?
- Do you have products or programs that you can deliver to clients to add value to your services?
- Do you have a way of asking your clients for referrals?
Which BUSINESS GROWTH CATEGORY will give you the best business growth?
- GET MORE CLIENTS?
- CHARGE MORE?
- REPEAT SALES (RE-SALES)?
What is the area of focus that will give you the most return on your investment?
I'd love to know what the answer was for you?
HINT: If you want to grow your business faster than most coaches, then you'll want to work on all 3 areas to take things forward much faster. This is what we I am currently teaching my coaches in our private group coaching program called Project Revolution. We'll be opening up spaces for the next intake of Project Revolution in the next few months, so keep your eyes peeled for this if you're looking for advanced coach training to grow your coaching business faster.