“To Take or NOT To Take Coaching Clients”

Checklist on How to Target - Screen - Filter – Select Good coaching clients.

Most business growth Coaches face a dilemma while prospecting a new Coaching client. The question is “Is this a Good Prospect to market coaching Services?”

Even the experienced coaches face this question often, after they have had a good Audit session or presentation where the Prospect is fully motivated and convinced and then they hear this answer

“ I will let you know soon”

“ I need your coaching, I will arrange the money and come back”

“ Let me think it over”

  I am choosy when i select my coaching client, as the client has to be ready 10 on 10 to be coached, else it just doesn’t start or end well.

Checklist to Select Prospects for Business coaching

Here is my checklist – I would use to shortlist and then focus my efforts on presenting my Business Coaching services.

SELF Check and Self Clarity check

1.     Identify / Select the Industry Vertical type you want to work in, Based on your Liking, Experience, Knowledge and Future growth prospect.

e      Do you have expertise/ Back ground in that industry

e      Do you Have experience and understand the subject

e      Do you want to work in that industry.

 As a Business growth coach, it’s not necessary that you have expertise in that specific industry, however, It helps when you discuss with prospects and they feel assured that you understand them well if you use the industry terminology and common words.

Prospecting Clients CHECKLIST  ( score answer – 0 for NO  to 10 Yes or in-between )

The list below is based on my experience of likelihood of the prospect converting into client. So even though the 1st question may seem basic, the mindset of the client and Impact you can provide is highest for them. They are already into a mindset which suits your requirement.

e      1.  Do they Spend on Advertising and Marketing? ( Use Score sheet given by me)

e      If YES, they are most easy to convert once you show them SCIENTIFIC MARKETING FORMULA

e      If they are NOT spending, however they are already spending money on Marketing executives and Sales or Tele sales, they are a good prospect.

 

e      2. Do they have an Established Business of at least 2 years -  yes/ No

 If Not completed 2 years, be choosey as they may be struggling and may not have money to give you.

e      Do they have GOOD reputation in the market ( +2 Marks)

e      ( ask them if they had any bad client review ) If reputation is bad, ( -5 Marks)

 

e      3. Do they have good profit margin in the product or service ? yes/ No

 - upwards of 30 percent to 100 percent is good to work

- or Low margin however, huge traffic and turnover business is ok

e      4.  Do they have a Repeat ( high frequency ) Business possibility? Yes /NO

- like restaurants, Grocery, Beauty salon, Weight loss, Doctor etc

- Monthly / yearly renewal business – Pest control/ AMC based

 

e      5. Small sales cycle – less than 1 month ( lesser the better) Yes/No

- products / services which take time to convert, You can’t show them results in short period. So unless the client is big enough and you don’t have to prove yourself with guarantees.

 

e      6. Prospect is positive minded, is not too much skeptical to try out.  Yes/ NO

- negative minded prospects will upfront tell you that It will not work out.

- You need to stay away from people who want you to prove yourself before paying the fees, who would continuously challenge you and question your Authority.

 

Prospects to Avoid Check list

These prospects will have a prominent mindset of failure, know all kind of personality.

e      Prospects with negative Mindset. Difficult people. Will ask to be convinced.

- These prospects will complaint about everything,

- Will question your Authority at every step

- will tell you that coaching or consulting will not work for them upfront

- Will not pay for your service or will keep saying its very high.

e      2. Prospect has  worked with some other coach very recently. Yes/No

- else they keep comparing and may not follow instruction.

- We can work with any kind of client with our proven Formula based coaching Framework at the CORE ASSET coaching, if the client is positive , then go ahead.

 

e      3. Prospects who boast about their Know all – Done All    ( Avoid)

These Prospects will showcase without asking what all they know, what books they have read, which seminars they have attended, what they have tried and failed. They will boast about their failures and will question your Authority or will tell you that they know about it.

 

e      4. Do not have money to pay you. Even small Amount even after You have a guarantee of 100 % money back.

-Will be in BAD debts, loans

-on the verge of closing.

 

e      5. Startups – Mostly are at concept level  ( stay away)

-Very tempting, they may offer you equity, also may ask to work on performance.

-Stay away unless they have been funded by Investor and you get the money for your efforts and time.

 

Remember these important points

“ All business owners need your help to grow. You can work only with few at any given time.

  You cannot serve all who need your service.

 Not all people are coachable / Teachable

 Not all Business owners are ready to learn or Act on your advice.

Work with good people, positive people.

work with whom you can relate and enjoy your work.

Don’t work only for money, with difficult, Unappreciative people.

Work with people with whom you would like to be friends with.

At the end “ You are giving them a slice of your life while helping them to grow their Business, Spend your time wisely” get paid for performance. Get paid from happy people, Do not keep money of a client who is not happy.

Choose you clients wisely.

All the best.

Jayant Hudar

www.thecoreasset.in