How to Become a Business Coach v7

HOW TO BECOME A BUSINESS COACH A Beginner’s Guide to a 6-Figure Income in Business Coaching

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How to Become a Business Coach Published by Business Action, Inc. (d.b.a., Te Coaches’ Coach Publishing) © 2015 by Business Action, Inc. Cover design by C. Michael Cody Printed in the United States o America ALL RIGHS RESERVED No part o this publicatio publication n may be reprodu reproduced, ced, stored in a retrieval system, or transmitted, transmitt ed, in any orm or by any means—electronic, mechanical, photocopying, photocopying, recording, or otherwise—without prior written permission. For Inormation: Business Action, Inc. • ino@mycoache in[email protected] scoach.com
































DEDICATION Do not grow weary in well doing, for in due season you will reap a harvest if you do not give up. Galatians 6:9 o my amazing wie Deborah or her boundless aith in me. o my amily or their love and their amazing ability to keep me grounded in what matters most to me in this world. o my God who has so richly blessed me beyond measure in more ways than I can even comprehend. o my peers, partners, mentors, and competitors. Tank you or drawing out the best in me and pushing me to be my absolute best. Iron sharpens iron. I pray my presence is pushing you to play at your peak. Te word “compete” comes rom the Latin root “comprare” which literally means “to strive with” and I have learned so much rom striving with each o you in this race to make a difference in the world. o the reader, or having the moxie to take on the rewarding but challenging world o Business Coaching. As you’ll discover in this book it is completely possible to build the business and lie you’ve always dreamed was possible in this industry. I believe in your ability to achieve greatness as a business coach… the only question is... Will you believe in yoursel enough to pay the price or greatness in this business? I can’t wait to see your results!
































T able of Contents DEDICATION

4

SECTION 3

47

MARKEING & SALES

INTRODUCTION

6

SECTION 1

10

ALL ABOU BUSINESS COACHING

Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5

11 13 15 18 27

SECTION 2

29

HOW O BECOME A BUSINESS COA C OACH CH

Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Chapter 12

30 32 34 36 41 43 45

Chapter 13 Chapter 14 Chapter 15 Chapter 16 Chapter 17 Chapter 18

48 50 52 62 67 74

SECTION 4

80

COACHING CLIENS

Chapter 19 Chapter 20 Chapter 21

81 83 92

SECTION 5

94

BUILDING HE BUSINESS BUSINES S

Chapter 22 Coaching or Coaches

96 103
































Introduction The Booming Business Coaching Industry

Welcome! I can’t tell you how thrilled I am you’ve decided to join me on this journey. It’s true what they say: the business coaching industry is EXPLODING. Over the past 10 years, it’s it’s blossomed rom  rom relative relative obscurity to a huge $2.5 Billion industry -- and growing at a staggering rate o 25% each year! Tat means tens o thousands o powerul, proactive business coaches will be positioning themselves or 6- and 7-figures incomes over the next ew months and years. Will you be one o them? Tat’s what this e-book is all about. My name is Eric Dombach, an internationally-acclaimed “Master Coach.” I call mysel that because I grew my business coaching practice rom $0-$1 Million in just 4 short years. During that time, I coached dozens o entrepreneurs and business owners, helping them generate millions in increased revenue...save countless hours, hassles, and headaches in their businesses...and put themselves in position or long-term growth and success. At the same time, I generated over $1.5 Million in PERSONAL AKE-HOME WEALH (this does NO include the additional $1 Million I made when I sold the business -- nor the hundreds o thousands o dollars my associate asso ciate coaches generated or themselves themselves each year). Now don’t get me wrong. Tat was HRILLING.


































But I wasn’t done yet. Because in 2005, I sold my business coaching practice or a cool million. As you might expect, I took a couple months off afer that :-) ... and then turned my attention attention to coaching co aching coaches. I began to show hundreds o them, step-by-step, the EXAC strategies and processes I used to build my own million-dollar coaching practice. And you know what? It worked. My students have have consistently been top perormers, easily earning 6- and 7-figures in their first MONHS in practice. Like Kelli Hoskins, who reached $12,000 per month in just 10 months o starting her coaching business--and got up to $25,000 in just 20 months! She’s still billing this amount hersel and now has brough broughtt on a couple coaches o her own to help consume the demand she’s created in her marketplace! Or Alan Sartain, who w ho grew his firm 330.7% in 36 months and now consistently banks over $20,000 a month. Or what about Rudi and Fiona Jansen, a pair o British business coaches who doubled their revenue in just 2 months--and more than QUADRUPLED their lead flow rom  rom 8 to 41! Now they’ree bringing in over £15,000 every month...and are adding associate they’r associ ate coaches. Over the past decade, I’ve helped dozens o people unlock the secrets to financial security: mysel, my business partners, my associate coaches, my small business clients, and my
































But then I ound the business coaching industry. And step-by-step and moment-by-moment, moment-by-moment, I discovered the secret to success in the business o business coaching. Now, I want to share my story. I want to show you EXACLY what I did to beat my financial demons, de mons, conquer my ear, and build the lie my amily and I have always dreamed o. And along the way, you’ll learn the precise process I underwent to change my financial ortune. So stay tuned. Tis is a ride you’ll never orget... I’m going to share with you how an inexperienced, 31-year-o I’m 31- year-old ld pastor made his first million mil lion as a business coach -- and how you can do it, too. Te first section will teach you everything you need to know about business coaching -- what it is, how it works, and the incredible income potential or people who do it successully. Since this is the first section, s ection, let me instruct you careully on how to go through this book. First, I recommend that you read through the entire book quickly to get a comprehensive overview. I you can do it in one sitting, that’s ideal. Ten, go back to the beginning and start again, this time taking it chapter by chapter, one step at a time. At the end o many o the chapters, I’ve included included assignments. COMPLEE HEM ALL in
































Tat’s because this process isn’t mysterious; it’s scientific and replicable. So do your best to duplicatee it, and you’ll be WELL ahead o the rest o the players in the field. duplicat Now, on to chapter one! Enjoy! o your success,

Eric Dombach Te Coaches’ Coach Founder

IMPORTANT IMPORT ANT RESOURCE: RESO URCE: COMPLIMENTARY COACHING COACHING SESSION SESS ION

Here’s an incredible resource just or How to Become a Business Coach readers. As you read this book, jot down any questions, comments, or concerns you have. Ten, contact Te Coaches’ Coach directly or a FREE Coaching Session to get them answered. Either I or one o my certified Coaches’ Coaches will personally spend 30 minutes on the phone with you, doing everything in our power to help you become the most successul business coach you can be! When you’re ready or your CCS, just go here: http://www.MyCoachesCoach.com/free-session
































Section 1 Alll Abou Al Aboutt Busines Businesss Coaching Coaching So far, I’ve talked about the business coaching opportunity in general. Now it’s time to explore the nitty-gritty details of becoming a business coach. Each chapter in this section is your next step in setting up your own business coaching firm.
































Chapter 1 My Story: How I Went from a Full-time Pastor to a Millionaire Master Business Coach My career began simply enough. Back in the 1990’s, I was a 31-year-old pastor in a small congregation in Pennsylvania, pulling in a meager $30,000 a year running a ministry to teenagers. My volunteer team and I got a vision to build a state-o-the-art teen center. Afer a year o research, we opened a test version o the teen center in an old burlap bag-actory. It had a computer lab, coffee bar, pizza kitchen, workout room, dance club, video game room, and more. Te kids loved it and soon we began to see a real difference in our gang-influenced inner city. We had hundreds o teens participating, 5 churches providing mentoring...and kids’ lives were being permanently changed. It wasn’t long beore we realized we could do more or these kids i we moved out o that raggedy little space into a real, state-o-the-art

MY LOVELY FAMILY AND I


































So in 2001, I started looking lo oking or a career in business that would help me learn how to make money and raise capital. My search took me high and low: I considered real estate, network network marketing, internet businesses, and retail. Ten I stumbled upon an incredible niche I’d never even heard o beore: Business coaching. As soon as I heard about it, I just knew it was or me. I loved the idea o working with business owners and entrepreneurs to grow their businesses and improve their quality o lie or their employ employees ees and amilies. It It fit perectly with my zeal or business business and my “pastoral” “pasto ral” gifs. g ifs. Even though I had very little proessional proessional or entrepreneurial experience, I knew I had a lot to offer. I was good at leadership development, training, communication, team building, and personal counseling. I guess there’s something about teaching and working with people that has always been part o who I am. A web-site search or business consulting ranchises led me to a prominent business coaching ranchise and just six months later I was a new ranchisee.
































Chapter 2 The Business Coaching Lifestyle

Beore I get into explaining what business coaching is, I want to talk a little bit more about why you should even bother considering business coaching c oaching as your career path. I think it can be b e summed up in one simple sentence: Business coaching is an incredible liestyle business. You see, as a business coach, you control your own time and destiny. I’m not aware o any other business that allows you to work rom home or rom the road, raking in i n huge hourly rates -- I’m talking about ab out $500 to $750 $75 0 -- just or knowing knowin g stuff. You’ You’re re making more than high-powered attorneys...with more flexibility, and without the costs and hassles o law school! Business coaching allows you to give generously to your avorite causes and charities... take
































Keep your reason in the oreront o your mind, and you WILL achieve it. It’s just the way the world works.

ASSIGNMEN: ASS IGNMEN: ☐ Write a ew ew paragrap paragraphs hs about about WHY you’ you’re doing doing this. Inclu Include de picture pictures. s. Ten print print it out and put it someplace where you can see it every day. It might sound corny, but I assure you...when you know what you’re working or, you’ll work smarter and harder.

INCREDIBLE RESOURCE: VISION BOOK TEMPLATE Do you want the exact template I use to create my goals? It’s called a Vision Book, and it allows me to see s ee at a glance everything ever ything I’m working or. or. Go here to access your you r own Vision Book template or FREE! http://www.mycoachescoach.com/downloads

ake some time to do it NOW, beore moving on to the next section.
































Chapter 3 What is Business Coaching?

Now that you know why you want this, let’s let’s get into the nuts and bolts bol ts o business coachi coaching. ng. Simply put, business coaching is the process o helping small-to-medium sized businesses increase their profits and improve their quality o lie by educating them and guiding them through a process that increases their sales and cuts costs. ypically, you meet with your coaching clients each week or 30 to 60 minutes. Most o the coaching sessions are held on the phone, some in person. During your time with clients, here’’s what here w hat you provide… Awareness. Your first job is to help your clients become aware o the roadblocks and obstacles adversely affecting their businesses. You do this by digging into their businesses to “diagnose” the issues, and then clearly communicating where they’re alling short. Afer all, recognizing and understanding the problem is the first step to correcting it. (Don’t worry, Chapter 16 will show you exactly how to do this.)
































Tis ongoing process o awareness, education, and accountability is is the heart and soul o business coaching. It’s NO about cheerleading and pep talks (though that is a small smal l part o it). It’s about equipping your clients with the inormation and confidence they need to make drastic improvements improvements in their businesses and liestyle.

Consulting vs. Coaching Now beore I go on, a quick caveat. Many new business coaches conuse business coaching with business consulting. Tey are NO the same. And believe me, coaching is the far the far better better gig. Consultants work or entrepreneurs, subordinating themselves to the will o the business owner. Tey’re NO equals -- they’re employees by another name. Tey base their work on hourly rates and deliverables, NO value, NO results. Compare that to the world o sports.


































Here’s why it makes such an incredible difference: the typical business coach has 10 to 15 clients, billing or $1,500-$3,500 each month...us month...usually ually with a time investment investment o less than t han 2 hours per client per week. Tat’s $10,000-$45,000 in monthly cash flow or 20 to 30 hours o client work per week. Tat’s But you’ll never generate that kind o cash flow as a consultant. Not by a long-shot. Tat’s because deliverables and projects and hourly rates, however well-done, just don’t have the perceived high value o pure expert mentoring.

Real business coaches understand that trading time or money is “industrial age” age” thinking -an outdated orm o business management that leads to over over-servicing -servicing and under-delivering. under-delivering. In the “inormation age,” knowledge is inherently valuable -- and when it’s skillully applied, even in just minutes, it can be worth hundreds o thousands o dollars to both your clients and you!
































Chapter 4 The Profile of a Successful Business Coach

Tis next chapter will help you learn the skills ski lls and qualities you need to develop in order to be a successul business coach. First off, you should know that I believe that many people have what it takes to become a successul business coach. And i you have a good system, a good goo d Coaches’ Coach, determination, and a willingness to
































Te truth is, success in business coaching comes just like success in anything else -- through good old ashioned practice and experience. Te purpose o this chapter is to help you understand the skills and traits you need to acquire as you pursue excellence in business coaching. (It’s also here or the ew o you who might decide at the end o this book that business coaching isn’t or you. And that’s okay, too.) Just keep in mind that you’re always a “work in progress” -- whether you’re just starting out, or pulling in $15,000 to $30,000 a month as a business coach. Te most successul coaches understand this act and are ALWAYS improving themselves. In act, that’s a primary habit o success in anything.

Got it? Good.
































Flip combines his proessional background as a psychotherapist and business owner with a sophisticated set o psychometric profiling instruments to produce dramatic changes in individuals, corporations, educational institutions, and government entities around the world. Flip’s reputation as the go-to guy or insight into the psychology and transormation o leadership behavior is legendary. Te Flippen Group’s client base includes some o the highest perorming individuals and organizations in the world, ranging rom Fortune 500 corporations such as Microsof and Qwest Communications, to sports teams such as the New York Yankees. I could go on and on, but you get the idea. A ew years ago, I worked with the Flippen Group and a well-
































☐ ☐

High Critical Tinking – – the t he tendency to critique cr itique perormance and behavior. behavior. High Playful/Energetic – the drive to have lots o un!

When you read this list, you should get a pretty clear picture o the iconic coach. You’ll see a hard-charging, hard-char ging, ocused individual with an insatiable drive to come out on top by challenging and conronting ailure and mediocrity in business -- yet having loads o un  un along the way. So what does this mean or you or you?? Te more you develop these qualities in yoursel, the more successul you’ll be as a business coach. I you’re reading this book right now, it’s because business coaching appeals to you -- and so chances are, you can probably already see many o these qualities in yoursel now. But even i you’re unsure how you stack up, I want you to keep this in mind:


































6.

Selling the client on how how it will benefit them to give you a list o their riends who also need your help.

But here’s here’s the t he real kicker. Developing strong sales skills isn’t just isn’t just about about business coaching. It’s about being a successul communicator, teacher, or leader.
































Knowledge of Basic Business Disciplines and Real-World Experience Managing a Profit-Center Te third criterion is pretty intuitive. Te more business knowledge and real-world experience you have, the better you’ll be able to coach your clients. Fortunately, this is the easiest o all to address. Even i you have NO experience now, any
































You know what I’m talking about: that little voice in the back o your mind that keeps whispering: you whispering: you can can’t ’t do this...Wha this...Whatt are are you think thinking?...Of ing?...Of course no one one wants wants to to do busines businesss with you...You NEVER should have taken this risk...and risk... and so on. It’s debilitat debilitating. ing. Afer all, in the immortal words o Henry Ford:
































It’s not what you do...it’s HOW you think.

So i you’re araid you won’t get the results you want, that’s a dead giveaway that you’re not thinking the right kinds o thoughts. Te solution?
































Why don’t don’t you do the same with your sel-proclaime sel -proclaimed d liabilities? liabilit ies? Go ahead! ahe ad! Do it now! urn urn your attitude around and then enjoy the incredible results!

ASSIGNMENS: ASSI GNMENS: ☐ Rate your yoursel sel on each o o the personal personality ity traits traits,, marketi marketing/sale ng/saless skills, and and managem management ent skills mentioned in this chapter. chapter. Tis will wil l give you a solid picture o where you are right

























































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































































A quick note: you’ll be amazed at how many o them don’t know even the undamental metrics in their own business. Be sure to let them know their best guess is okay -- while gently reminding them how important it is or them to understand this inormation i they hope to make significant improvements in their business. (Tis is a terrific way to demonstratee how much they need you!) demonstrat Once you have the “past” column filled out, move to the “uture” column. Use our Silver Bullets to identiy the tactics you’ll employ to help them make improvements in each category. You’ll need to collaboratively discuss which Silver Bullets will create the biggest impact. Use conservative figures as you fill in the “uture” column. And tell your prospect the numbers are conservative. Te coolest aspect o the Profit Equation Worksheet is that even a small change in each o the 5 areas in black will make a massive difference in their bottom line. So tell them explicitly: “Look, even i we only make tiny improvement improvements, s, you can expect expec t an incredible ROI!” Ten, begin coaching them on what you’ll do with them and how you’ll do it. Don’t hold back. As you show your passion or the Silver Bullets, they’ll begin to understand the impact you can have on their business. Tis is simple, but it’s definitely an art orm. I’ve done hundreds o these over the years, and learning how to demonstrate a powerul ROI takes practice, just like perecting your gol swing or tennis serve. Te more you do, the more you’ll become adept at it. Te Profit Equation Worksheet is designed to be pretty sel-explanatory...but i you’re struggling to make heads or tails o it, don’t worry. It’s all covered in the materials provided with your Coaches’ Coach monthly subscription. Remember, Remember, you can have a FREE 30-day 30 -day rial o Te Coaches’ Coach Monthly Membership. You can claim your rial membership by going to this link: http://www.thebusinesscoachsystem.com . Te Profit Equation is the best way to powerully demonstrate to your clients that your coaching programs are an irresistibly good investment. You’ll be amazed at how well it works!
































ASSIGNMEN: ASSI GNMEN: ☐ Get a Complimentary Coaching Session rom one o my certified Coaches’ Co aches. I’m serious. You You want to learn l earn how to t o do it right? You You get it FREE F REE because b ecause you’re a How to Become a Business Coach customer. Go to http://www.mycoachescoach.com/freesession to session to schedule yours now. ☐ I you you haven haven’t ’t yet, yet, register register or or your your FREE 30-day 30-day rial rial o the Coaches Coaches’’ Coach Monthly Monthly Membership. Enter Special Code ‘BCR’ in the ‘Special Code’ box and clicking ‘Apply’ beore checking c hecking out.”: ”: http://www.thebusinesscoachsystem.com/ http://www.thebusinesscoachsystem.com/ .. ☐ Beore Beore your your first first ace-to-a ace-to-ace ce sales meeti meeting, ng, go go over over each o the 17 steps steps in the the 100% Sales Process system. ☐ ake out out the Profi Profitt Equation Equation works worksheet heet and and practice practice going going throu through gh it a time time or two two with a riend, r iend, spouse, or even an imaginary business owner. owner. ☐ Get como comortable rtable with the the tools tools ... then then put put a smile on on your your ace and hav havee un!
































Chapter 18 Overcoming Objections

Te last thing I’m going to teach you in the sales and marketing section is:

Overcoming Objections Why? Because it’s quite possibly the most critical skill you can acquire as you implement my system and build the coaching business o your dreams. In act, just this past week, I spent some time on the phone with a coach who was having trouble converting leads into ace to ace appoin appointments. tments. “I haven’t haven’t been successu suc cessull on the phone, phon e,” he began. began . “I just can’t seem to get people peo ple interested in seeing me. I’m trying to learn l earn this coaching stuff as ast as I can, but I eel like I’m learning it so slowly. I’m an S-C personality profile, so I guess I don’t think quickly enough on my eet.” Red flags were going off in my head like crazy. What What a classic case o mental sel-sabotage! s el-sabotage! He was telling himsel he couldn’t sell because o his personality...which, o course, was making it impossible or him to sell! “I’m beginning to think I’ve made a big mistake,” he said. “Maybe this isn’t really or me.” In my mind’s eye I could see the heart monitor o his motivation going flat--and I could hear that awul flat line beeeeeeeeeeep…

Well, I thought, It’s time to get out the paddles and defibrillate this coach!
































So, we started role playing a phone call with me as the prospect rom the darkest abyss. I began drilling him on the ollowing list o objections and he wasn’t wasn’t able to answer a SINGLE ONE o them with ease! Here are the op op 11 Objections to Coaching. Chances are, you’ll you’ll run into them regularly: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.

We get calls like this all the time. Everything’ Everyth ing’ss going just fine, thanks thanks.. Who’’s this guy and what does he do? Who I’m too busy busy.. I’m not interested. I worked with a consultant beore who ______ . I’m too small. How will he/she do that? What can he/she possibly teach me about the ______ industry? Tis all sounds great, but I have no money! Send me some inormatio inormation. n.

“Listen,” I told him, “your ability to get in ront o people has NOHING whatsoever to do with your personality profile. And it has very little to do with your ability to think quickly, your knowledge o the coaching system, or your background in sales. And your ‘lack o confidence’ is only a symptom o the real problem. Te real reason you’re having a tough time getting in ront o people is because you don d on’t ’t know how to handle objections!” He was startled. “Tat’s it?” he said. “Tat’s it!” I exclaimed. “Listen, let’s spend a couple o minutes together and I’ll tell you EXACLY what to do. Got it?” “Sure.” “Okay, when you first get on the phone, introduce yoursel as someone who can teach them to increase their profits by a certain percentage each year and help them build a team to run the business or them so they can get back some time or themselves.
































“From there, they’re going to hit you with one o the op 11 Objections to Business Coaching. At that point you’ve gotta answer the objections EFFORLESSLY, ask openended questions, and get on with the process o finding their pain!” “Tat sounds simple enough, Eric,” he said, “but how do I answer them EFFORLESSLY?” “I’m glad you asked. I’ve got a simple riple-A ormula or overcoming objections. Now write this down. It’s AGREE, ANSWER, ASK.” “Okay,” he repeated, “Okay, rep eated, and I could coul d hear him scribbli s cribbling. ng. “Agree, “Agree, answer ans wer,, ask.” ask.” He paused. paus ed. “What does that mean?” “First, whenever they make an objection, AGREE with it.” “ Agre Agreee with it? But doesn’t that shut down the conversation?” opens the I laughed. “You’d think so, wouldn’t you? But I’ve actually ound it opens the conversation up.” “How?” “Well, think o it this way. When someone disagrees with you, how do you eel?” “Deensive,”” he said. “Deensive, “Exactly. Barriers shoot up like crazy. But when you agree with them, you make them right--you acknowledge that their perspective is true or them. And I’ve ound that when I agree with a prospect’s perspective, at least momentarily, it diffuses the pressure and the conversation conver sation becomes much more cordial. Make sense?” “Well “W ell actual actually ly...yeah, ...yeah,”” he said. “Great!” I replied. “Next, you want to ANSWER their question quickly and honestly.” “Quickly and honestly,” he repeated. “What does that entail, exactly?”


































“Well or one thing, it means you have a positive, succinct response prepared or all the common objections. You don’t want to be caught off-guard--especially i you have trouble thinking quickly on your eet. “For another, it means you don’t want to make stuff up. People can tell when you’re B.S.-ing them. Don’t insult them like that.” “Sure, I can always tell when salespeople are trying to cover their tracks or making stuff up.” “Absolutely. Don’t be that guy.” “Okay, so AGREE and ANSWER. What was the third one?” “ASK,” I replied. “Ask them a question. Tis is a phenomenal tactic because they eel like you’ve just handed control to them...when really, by asking a good question, you’ve taken it--because YOU’RE the one guiding the conversation.” He considered that or a moment. “I think I get it,” he said. “But could you give me an example?” “Absolutely!” I said. “Okay, let’s say you’ve just spent a couple o minutes talking with a prospect. And he says, ‘Everything’s ‘Everything’s going just fine. Why should I bother talking t alking with you?’ How should you respond?” He laughed. “I don’t know,” he said. “Normally I’d just reeze.” “ry something like this: ‘You know, that’s great! Tat’s really good to hear! You must be doing a lot o things right!’ rig ht!’ And be sincere when you say it. I it were you, how would you you respond?” respond?”
































“But I have to do more than just agree. How would I ‘answer’?” “Right. Well, afer you agree, say, ‘I guess the only reason you’d talk to me is because I might be able to help you make things even better.’” He thought or a moment. “It’s simple, direct,” he said. “ I like it!” “Good,” I laughed. “Ten throw it back on him. Say, ‘So, are you saying there’s nothing that could be going better in your business?’ By then, you’ve you’ve impressed him with your support, diffused pressure, and responded honestly to his direct question. Tat means he’s ar more likely to be open and honest with you back. And how do you suppose he’ll he’ll respond?” “Well, i he’s being open and honest, he’ll say something like, ‘Tings can always be better, I suppose.’” “Exactly. And then you can ask, ‘So what would be the main thing you’d like to improve in your business right now?’ And off you go into the conver conversation!” sation!” Tere was a long pause on the other end o the line, as though he was drinking it all in. “I think I can do that,” he started slowly. “But it will take practice. Any advice in that department?” “Tere’s a very cool practice “Tere’s pra ctice routine I learned lear ned rom Blair Singer at SalesDogs.c SalesD ogs.com, om,” I replied. And I told him about the ollowing exercise: ☐ Make a list o o the most most commo common n objection objectionss you get when when talking talking with with prospects. prospects. Kee Keep p a list o objections by your phone, as you’re prospecting, and capture them all. ☐ Now Now, write write out a good response response to to the objectio objections ns so that that you’ll you’ll never again again get get caught caught just winging it. Make sure your responses use my riple-A ormula or overco overcoming ming
































I you trip, stumble, umble, or bumble any o the A’s, make them stop you, repeat the objection, and let you to try again. Repeat this drill until you can answer all the objections FLAWLESSLY, one afer the next. “Do this regularly, and you’ll be a MASER objection handler in just a ew weeks!” I exclaimed. By the time I hung up the phone, my once-discouraged coach was totally revitalized. “Tank you, Eric,” he said. “I think you just saved my career.” I smiled. “Only because I had to learn all this hard way first,” I replied. “Now go knock ‘em dead.” ASSIGNMEN: ASSIGNME N:

☐

Do the 4-ste 4-step p process process outlin outlined ed in this this chapte chapterr to practice practice hand handling ling objectio objections. ns.

INCREDIBLE RESOURCE! Get the Business Coaching C oaching Objection Buster Cheat Sheet online at http://www.mycoachesCoach.com/downloads No cost, and no obligation. Enjoy!
































Section 4 Coachingg Clients Coachin So You’ve Just Landed That First Client! You’ve used your lead-generation strategies to bring in a flow of hot prospects. You’ve You’ve converted those prospects to 30-minute phone consultations, then 1-hour face-to-face sales meetings. And you’ve just left your meeting with your first check of $1,500, $3,000, or even $4,500.

Congratulations! Now what? Section 4 will teach you exactly how to coach clients through all their major business problems, so you can can keep them paying for a long time...not to mention create raving fans
































Chapter 19 Positioning Yourself Yourself for Success

Te most important thing you can do as a coach is to truly position yoursel as the expert. Tat means trusting yoursel and the system to give your clients the right answers at the right time. It means being prompt, consistent, and firm. It means carrying an aura o confidence. ndermine your It also means avoiding a deadly rookie mistake that can completely u undermine authority authori ty in the t he eyes o your clients aster than almost anything I know: Over-servicing your clients.

Now I can already hear the protests: “But I have have to to ‘over-deliver’ ‘over-deliver’ or else I’ll I’l l lose my contracts! contrac ts! I can’t can’t keep clients around unless I hold their t heir hand through the whole process!” Nonsense. I you really think this way, I suggest you go back and read Chapter 3: You’re a Coach, Coac h, Not a Consultant. Because while the temptation to over-service may be strong -- especially when you’re new -- it will only lead to problems. You’ll position yoursel as some sort o grunt laborer: NO a genuine expert. You have to realize that your time, experience, and expertise are inherently valuable. valuable. Tat you really CAN make a difference in your clients’ businesses. And that as a result, you deserve their undivided attention. attention.


































So do yoursel a avor. When you land your first clients… Don’t drive to your clients’ offices or coffee shops or consultations. It’s fine on occasion, but be sure you’ sure you’re re the the one calling the shots. Don’t drop everything when they call Don’t cal l with a question or a problem; respond quickly to set up a ollow up, but do it on your timetable. Do coaching sessions s essions over the phone. Face-to-ace coaching quadruples the amount o time it takes to service your clients. I’ve ound that a 3:1 ratio o on the phone vs. ace-to-ace coaching is about right. By believing in the value o your time and expertise, you’ll command the kind o respect you deserve -- the kind o respect that can bring you 6-figure paychecks year in and year out as a business coach.
































Chapter 20 Handling Client Questions and Business Problems

Successully handling client questions and business problems goes back back to the very first step we discussed: finding a business coaching curriculum that works. Te Coaches’ Coach system is designed to do just that. Here’s how we teach you to do it.

Te 5 Steps to Freedom Coaching System Te 5 Steps to Freedom is the world’s world’s first complete methodology or coaching small to midsized businesses rom ground-level to a hands-off source o residual revenue. Here’s a brie overview.

CREAION
































CONROL Tis is where your clients convert cash flow into profit by monitoring well-chosen perormance metrics and fine-tuning and adjusting the business model. Tat leads nicely into...

PROSPERIY Your goal here is to help clients reach market domination by optimizing operations or maximum growth and profitability profitability.. Once they do, they can start to enjoy the ruits o their labor as they head into into... ...

FREEDOM Your client’s final act is to develop a strong core o leaders and invest in expansion through strategic partnerships, mergers, and acquisitions. At this level, the business owner enjoys the ruits o his or her labor l abor in the orm o ree time and ree cash flow flow.. Can you see why this is such a powerul p owerul picture and promise promise or your clients? Can you see how this methodology helps you coach them rom wherever they are now...to a place o ultimate prosperity and reedom?
































Silver Bullets at the CREAION Phase

You know you’ve got a CREAION level business i your client cli ent hasn’t hasn’t established establi shed a profitable niche in their target market and aren’t executing against a solid business plan to surpass their break-even point quickly. As a business coach, you’ll be ocused on helping these clients identiy their best b est long term
































Now, sometimes businesses that have advanced to one o the higher levels will backslide even to the Creation level because o changes in the market or environment. So, it’s not just new businesses that need these 3 Silver Bullets. Sometimes even established businesses need to reinvent themselves themselves by deploying these 3 Silver Bullets.

Silver Bullets at the DISORDER Phase


































You’ll coach your clients by helping them build an achievable Revenue and Profit Budget to execute against. You’ll help them create a actical Marketing Plan to generate opportunities with new and existing customers and implement a Sales Management System to produce a high-perormance sales team that delivers results. You’ll also introduce a eam Building System to align the entire team with the mission o the company and introduce basic relational skills so they don’t blow apart as they move through this stressul, painul level!
































As a business coach, you’ll be ocused on helping these clients wisely manage their cash and leverage it or growth by developing systems and teams. Tis step is all about positive cash-flow, cash-flow, monitoring the numbers, and adjusting the business model accordingly. Every CONROL level business needs these Silver Bullets: ☐ Cash Gap Plan ☐ Em Empl ploy oyee ee Acq cqui uisi siti tion on Pl Plan an ☐ Psy sych chom omet etri ricc Pro Profili filing ng Pr Proce ocess ss ☐ Key Per Pero orm rman ance ce Ind Indic icat ator orss Syst System em ☐ Per ero orm rman ance ce In Ince cent ntiv ivee Pl Plan an You’ll coach your clients through the implementation o quality Cash Gap Plan to ensure adequate working capital. You’ll also help them roll out an Employee Acquisition Plan and
































Silver Bullets at the PROSPERIY Phase You know you’ve got a PROSPERIY PROSPERI Y level business when w hen the profitability has been b een careully careul ly managed to produce real momentum momentum in the market and the business has taken on a lie o its own beyond the business owner’s personality. As a business coach, you’ll be b e ocused on helping these clients develop the kind o efficient, profitable managerial inrastructure that will allow the business to go the distance and become a valuable, marketable asset, rather than just a job or the business owner and his or her amily. Tis step is all about creating economies o scale, investing in growth opportunities, and paying off high intere interest st obligations. Every PROSPERIY level business needs these Silver Bullets:































































o the owner(s). You might even coach the business owner through the process o executing a Comprehensive Comprehensive Exit Strategy culminating in the sale o the t he business! Tis kind o approach will help you take clients rom ANY category categor y, and move them quickly and methodically along al ong until they have a cash and reedom-generating reedom-generating machine!

ASSIGNMEN: ASSIG NMEN: ☐ I you you haven haven’t ’t yet, yet, register register or or your FREE FREE 30-day rial rial o the Coaches Coaches’’ Coach Monthly Monthly Membership, click here: http://www.thebusinesscoachsystem.com/ http://www.thebusinesscoachsystem.com/ .. ☐ Downl Download oad the train training ing MP3’ MP3’ss on the the 21 Silve Silverr Bullets Bullets and the 5 Steps Steps to Freedom Freedom.. ☐ Li List sten en in inte tent ntly ly,, tak takee not notes es.. ☐ Write up a brie brie summa summary ry o the 21 Silver Silver Bulle Bullets ts and the the 5 Steps Steps to Freed Freedom om in your your own words to be sure you’ve properly assimilated the inormation.


































Chapter 21 10 Commandments of Customer Service and Handling Problem Clients
































Is the money they’re paying me worth the hassles they’re creating? Every once in i n a while, whil e, I have to fire a client. It’s It’s rare, but it happens. So remember: I someone just isn isn’t ’t jiving with you, or i they’r they’ree abusive or otherwise causing you undue emotional distress, it’s okay to pull the plug. Just keep in mind that i you find yoursel doing this a lot, the problem is probably YOU.
































Section 5
































I documented everything I did. When it ailed, I threw it out. When it worked, I kept going, expanding my knowledge and experience as I went. I developed SYSEMS around the successul strategies I discovered. Like my 7 Lead Generation strategies, 100% Sales Process, 21 Silver Bullets, my 5 Steps to Freedom, my 10 Commandments Commandmen ts o Custom Customer er Service, and hundreds o other scripts, sc ripts, templates, templates, and tools I just don’t have the space to share with you here (but are available with your Coaches’
































Chapter 22 A Firm That Runs Without You You




















































































































































































































































































































































How to Become a Business Coach v7

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