Monetize Your Expertise: A Step-by-step Process to Sell Your Coaching Services
Jennifer had just started her own coaching business focusing on team development and leadership. In this new venture, she capitalized on her sphere of influence from her previous work in financial institutions. She honed her public speaking skills and networked morning, noon and night. She developed relationships, met with decision-makers and booked free speaking engagements, but she was not effective at moving the conversation forward into a sale.
Does the above narrative ring true for you?
Have you been in front of prospective clients, where at the end of the conversation, they said, “Let me think it over” or “I will get back to you?” Have you found you are making friends, but these friendships are not generating new business?
Jennifer admits to “hating the sales game.” This unfortunate mindset is typical for our profession. But coaching is an integral part of a thriving society. When people are coached, they start a positive ripple effect with others in their network. By not learning how to sell your services, you are keeping dozens of clients from benefiting from your coaching services. However, don’t be dismayed. You can overcome your limiting beliefs, your perspectives that no longer serve, and you can calm the voice of the inner critic.
Here is a proven formula for a successful sales conversation. Let’s set the stage: You are in front of prospects who have known problems that they want to solve:
- Ask them to share about their desired situation. What do they want? Listen deeply and ask questions predicated upon their last answer. Get beyond the superficial details, facts and opinions, and discover the real meaning of what they want and how it will make a difference in their life. (Core Competency #8 Creating Awareness)
- Do not start coaching. This is the biggest bugaboo for coaches. At this point, they start coaching, and the whole sales conversation goes sideways.
- Once you have allowed your prospects to express their desired results, ask what has limited them from experiencing these results in the past. Coax them to go beyond a superficial answer. Listen deeply to what they perceive has kept them from having their desired result. Do not start coaching. Listen empathically. Do your best to refrain from telling any stories about how you relate or how you have helped others.
- Ask them, “What is at stake if nothing changes?” This is the most crucial question. This is where you will find out if they are serious about solving their problem. If nothing is a stake…This is not a prospective client right now. Timing is everything. They may come back to you when they are ready. If they are vulnerable and honest and ready to make a change, you’ll hear some real answers. You want to be so open that they will share with you what is at stake, i.e., “I will not achieve my goals” or “I could lose my job.” This is a powerful question (Core Competency #6). Keep your coaching presence (Core Competency #4) of being fully conscious and confident as they share.
- Ask them, “What is your sense of urgency?” This is a tremendously important question. They may say, “I need to immediately take action,” or they may say, “I have other priorities, and this is probably something I need to look at next quarter.” Now you know.
- Ask your final question, “What is the next step?” (Core Competency #10 Planning and Goal Setting) Realize you are following a formula to find out if this client is ready and willing to engage in your services. Caution: Most coaches start telling right here. Please refrain from this activity. This is time for your prospective client to tell you what they think/feel the next step is for them. If you did an outstanding job, they may well say “Let’s get started!” or “How much do you charge?” or “Please send me a proposal.” Be ready for these questions: Roleplay your answers repeatedly. If they do ask you for a proposal, please email me for a checklist of things you must find out before you send a proposal. You are not in the proposal writing business. This may be a topic for another article!
Out of desperation, Jennifer started following this process. It took discipline because she found out that during a sales conversation, she started coaching, sharing stories and statistics, and did not follow a process. That is why she was NOT closing business. But by using this process, Jennifer started closing business for the exact type of business she wanted. She also started getting paid speaking engagements.
What is your next step to monetize your expertise?
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Connie Kadansky, MCC, will be exploring this topic more in-depth at ICF Converge 2019, which is taking place October 23-26 in Prague, Czech Republic. Join her session “Coaching Excellence Meets Prosperity” in the Build content group on Friday, October 25 at 11 a.m. (local time). By attending this session, you can earn 1.0 RD in Continuing Coach Education units.
Connie Kadansky, MCC
Connie Kadansky, MCC, is the President of Exceptional Sales Performance, an international sales training and coaching practice. She is a recognized expert in identifying and eliminating Sales Call Reluctance, the emotional hesitation to prospect and self-promote. Connie has a proven track record in diverse industries; i.e., financial services, insurance, real estate, banking, medical device, legal, software, public broadcasting and executive search. Connie has been interviewed by the Wall Street Journal, Bloomberg Business, Investor’s Business Daily, Forbes and Inc. Magazine. She is a certified Conversational Intelligence™ coach, and a Certified Practitioner for the ECHO Listening Profile. Connie is President-Elect for ICF Arizona. Connie facilitates Roadmap to Revenue Mastermind Groups for coaches so that they run profitable businesses coaching their ideal clients!
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Hi Connie,
I must say this is a worth reading article. It goes beyond the conventional steps to approach a client and start coaching business.
Excellent article, thanks! Will you please share the checklist of things we must find out before sending a proposal?
Hi Connie, your article is the perfect representation of my not perfect approach on sales. The main mistakes I I think I do are related to make coaching when it is no necessary. I would like to know very much your tips about the answer to a proposal request and about the checklist of things I have to find out before I send a proposal.
Finally, yes I’m waiting your next article.
Thank you, Davide
Hi Everyone! This is the Ideal Pre-Proposal Checklist. If you can answer yes, to at least 10-12 of these, you will be doing well. Sometimes it is not possible to get a yes for all 21.
Pre-Proposal Checklist
1. This quote is for the final decision maker.
2. A decision has been promised upon delivery of quote.
3. I have uncovered at least three needs.
4. The prospect stated that these Pains (needs) must be eliminated and they would spend money to fix them.
5. The prospect has agreed to the cost or worth of all Pains combined.
6. The prospect has the money fully available, and I understand how and when we get it.
7. The prospect knows how much the solution will cost, or has agreed to a bracket.
8. There are no potential headaches or problems with this prospect.
9. The prospect is creditworthy.
10. The prospect is committed to buying from someone.
11. The prospect has agreed that our solutions are appropriate
12. There isn’t any competition.
13. There isn’t an incumbent vendor.
14. They have agreed to buy from me.
15. I want this business.
16. The time frame is appropriate for both of us.
17. They don’t need competitive quotes.
18. My service will solve their problem.
19. I have met with or spoken to all the individuals who may have input.
20. No one has veto power after the decision is made.
21. The prospect was straight with me and didn’t avoid any issues.
Am happy to answer any further questions. Connie Kadansky
Connie-
I greatly appreciate the opportunity to go into ‘coach’ mode during a sales experience, as well as becoming very mindful of how we might integrate the ICF Core Competencies into our guided discovery!
Brilliant!
Connie,
thanks for sharing this wonderful article addressing the exact errors in the prospecting/sales process that many coaches, including me, have made. I appreciate the clarity, step-by-step process and the pre-proposal checklist…this is very valuable information!
Awesome article. Very informative!
This is a great, clear process for sales calls, and I am happy to report that it worked like a dream when I tried it — my prospect signed up for a coaching package right in the call.
I think the beauty of this process is that you get to showcase your coaching skills — my prospect kept saying, “Great question!”
To that end, I’m not sure what is meant by “Do not start coaching” in Step 2. This process seems to use coaching skills right from the start — as you say, Step 1 uses Core Competency #8, and it seems to me that #4 (Coaching Presence), #3 (Trust and Intimacy), #5 (Active Listening) and of course #6 (Powerful Questioning) all come into play.
So, given that all this coaching is happening, what elements of coaching should be avoided in the sales process? Thank you!