Thursday, June 26, 2008

Building Your Coaching Business - Constant Flow of More New Clients

Here is an approach that keeps new clients coming without end. Ask for two referrals every time you signup a new client. Make it a part of your fee.

When you quote your fee in a proposal, or verbally, request 2 referrals as a part of that fee. It might sound something like this.

Always state that your fee is ...whatever it is plus 2 referrals...with the stipulation that " long as you are extremely happy with the results you get. My goal is for you to get _________ times more than you paid, and a referral is a natural outcome. In fact, my fee is (state a higher rate, by $500 to $1000) without the referrals and $_________ with the referrals. So, be thinking as we go through the program who you know that needs help moving their business forward at least as far as you will have moved." Always position yourself that you are so confident that he will be extremely satisfied, and you have to deliver on that promise to collect on the referral. Show him how confident you are and that you'll have to deliver to get those referrals.

Remind your client every week or so to be thinking about who they know that would like to et the same kinds of results they are getting right now. That will be an easy referral if you have made a significant difference in this client's business.

Also, coach your client how to make that referral. It should never be that coaching costs $________. It should look more like, "Wow, my coach has helped me get an additional $__________", or "This coach I'm working with has doubled my [department, workgroup, business] in just weeks, what are you struggling with where you'd like for that to happen?"

Now, let's look at what this would do for your business. If, for every client you get, you get 2 more referrals, and assuming you typically close at least 50+% of your sales, then you have a steady stream of clients, one behind the other. You'll close at least one of these two, resulting in one client added for every client you already have. Obviously adjust your figures based on your typical results. I also find that a referral is likely to result in something like 75% or more closure, but under one condition....that the referral really is to someone who needs you rather than blind referrals. It is up to you to coach your client who the right referral is, and this will become a steady stream of new clients.

Although this could keep a steady stream of clients, if you are also keeping existing clients, moving them into monthly coaching programs, and other opportunities, you should be building a larger and larger base of current clients.

A word of caution: if you only have one client at a time, make sure that you have other marketing going to build your client base large enough. At one client at a time, just one time not closing a new client will put you back to zero. Just one client not making the right referral can set you to zero.

This is an extremely powerful approach, and should be used with every client. But don't bet the farm until you have a large enough client base where the overall statistics will average out over time..


Do you want to learn more about how to increase your coaching businesses? I have just completed my brand new guide to coaching marketing success. You'll also get a free invitation to join a mastermind group of other coaches as they build their business. Hear what works and doesn't work.

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Alan Boyer coaches coaches, who want more business than they can handle, or at least more than they imagined...before this.....The reports have been "5-10 times more clients in just a few weeks, and still growing.

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