3 Pillars of a Coaching Business
Every coaching business is built on three pillars: how to attract leads and prospects, how to convert those prospects into clients, and how to deliver your products and services.
- Attract is how we generate the leads, online and off, and then how we warm them up to the point where they're an 8, 9, or 10 in terms of how likely they are to give you money and sign up as a client.
- Convert is how we convert prospects into clients, how we go from cold to sold, or curious to committed.
- Deliver is all about how we design and deliver a coaching program that frees you up from one-on-one, time-for-money work.
Think about the way that most coaches attract, convert, and deliver:
- They do it manually.
- They cold-call.
- They knock on doors.
- They go to networking events
- They collect cards, chase, and follow up.
Then they convert - onesie-twosie.
That is, they have a conversation for maybe an hour with a potential client, in the hope that the potential client says yes.
Often they say no, and they give you objections, excuses, and stalls.
The whole process is drawn out, it takes longer than necessary, and at the end of the hour, maybe you get a client - but often you don't.
It's frustrating. You might have the best script in the world, but the prospect doesn't have the script, and they certainly don't follow it.
The way most coaches deliver is time-for-money. We do an hour a week, or an hour every two weeks, whatever it is for you. We have scheduled conversations with clients. It's time-for-money, so there is no way to get free. Eventually, you hit a ceiling: There is no more money you can make, because there are no more hours in your day.
If you think about these three activities, manual prospecting, selling onesie-twosie, and delivering time-for-money, then what's the common element? You are. You're in the middle of all of them. There is only so much time available; you have only a finite amount of energy; 81% of coaches burn out after three years because of that model. It's not your fault; it's how the other guys taught you to do stuff. This isn't the solution to our problems. It's the very thing killing us.