Posts Tagged ‘consulting’


7 Reasons Adding Coaching or Consulting Is Good For Business

By: Dan Kennedy on: January 9th, 2015 2 Comments

One of the fastest ways to increase your income is to offer high-priced services to a select number of people. (This is a strategy I detail in Moving Money Up the Pyramid). One of the possibilities for many is doing coaching (group or private) or consulting.  Here I’ll also explain seven other benefits to adding this revenue stream to your existing business.

1.) Keep your top customers or clients. As a coach or consultant people are paying you—often a good sum of money—to achieve a result. These are your best customers. They are the people who aspire to do more in life and are willing to invest in themselves to get there.

Whether it’s in the form of giving your clients ideas, providing motivation, a step-by-step blueprint, information, helping them draw out answers to get unstuck, etc. there are certain things your customers need to go further.

If you don’t provide them, they will look elsewhere. Which means you risk losing your best customers.

2.) Sell more of your products and services. Look around. People who are selling the most or have top-selling products and services, more often than not, offer some form of coaching or consulting.

People feel more comfortable buying from someone who is a coach. There is a built in perception of expertise that comes with the title.

Plus, it gives you one more platform to promote products, services, and events. This makes your business more profitable and fun.

3.) Attract more and better referrals. When people experience success, people notice. They want to know what their secret is. When you are the one providing the solution and the reason for their success, this leads to referrals. Plus, because the coaching client is your ideal target audience, when they refer people, more often than not, they refer good, quality clients.

4.) Tap into new markets. As a coach, you are exposed to new and different markets you might not otherwise be exposed to. This can open up entirely new profit centers for you.

Many of my business endeavors have come as a result of this. For example, I learned about and got into the Barber shop industry with Kennedy’s All American Barber Club™ which exposed me to clientele which tends to be affluent business owners and entrepreneurs. Also, being exposed to what is working in one industry and applying it to another. For instance, I’ve helped an industrial chemical company selling B2B create consumer versions of their products and succeed on home shopping television.

5.) Stay on top of your “A” Game. Your coaching and consulting clients are looking to you for answers, which keeps you searching for new, better, faster solutions and different ways to explain things so it finally clicks.

6.) Discover what will sell. The questions, challenges, and solutions that come from coaching and consulting sessions make great material for new information products that you can create and sell.

And because these problems come directly from your best customers, they are a good indicator of the problems your ideal customer is experiencing too. This can mean that you’ll attract more of your ideal target audience when you market these new products.

7.) Create a new source of income. Coaching and consulting is one of the most lucrative streams of income. This is because you only need a very small fraction of people to make it a major source of income.

If you sell products for $100 a pop vs. one person paying you $2,000 a month for coaching them 4 hours a month, which is going to take less of your time and help you reach your income goals faster?

Plus, for those customers who want more access to you, this is a way to give it to them. And you’ll be paid for your expertise instead of giving it away for free turning your hard work and expertise into a source of income.

If you want to work less while making significantly more AND you want to grow your business, build your celebrity, offer more value to your customers, and reach your goals faster…then coaching and consulting is one of the best strategies I know.

Click here now if you want my ultimate consulting and coaching system in a box with ALL the materials you’ll need (including contract and marketing examples) to either augment your existing business or start a new one. Plus, as a special bonus, you’ll hear from Dr. Tom Orent on how to design, market and sell high-ticket coaching and Frank Kern, who makes $175,000 a MONTH consulting clients will tell you his secrets to creating, pitching, and closing high-priced exclusive products like consulting and coaching.

You’ll need to hurry though, this offer is only good for the next three days.

Five Mistakes To Avoid If You Want To Be a High-Paid Coach or Consultant

By: Dan Kennedy on: October 25th, 2014 1 Comment

One of the top ways I know to leverage your time and replace a lot of manual labor so you can often double (or more) your business income is by adding consulting or coaching.

Personally, I’ve made extraordinary profits by consulting. And I’ve taught hundreds of others to do the same.

As an example, consider Dr. Tom Orent.

In 1997, Tom found his dental practice, career and even his home in jeopardy. He put himself into rigorous study of GKIC-style direct response marketing methods. In three years’ time he was able to pay off ALL of his debt—which was quite substantial.

But his schedule was still rigorous. It was when he switched to a coaching model that he was able to create his ideal business.

He no longer works as a dentist and he’s converted most of his manual labor to an info-marketing business that is focused on coaching. Now he works from his dream home outside of Boston working MUCH less time while making MUCH more selling programs that range from $97 a month up to $60,000 for a ten-month term.

Most don’t realize that the reason this model works so well is because you only need a very small fraction of people to make coaching a major income source. Tom was able to more than double his income while working only 40 days per year.

Here are 5 other mistakes commonly made about coaching and consulting.

Mistake #1: Underestimating how much you can help others with what you already know. You don’t have to know everything to be a great coach or consultant. In fact, some coaching programs are more about providing accountability, motivational support, and encouragement. You just need to know some things your clients don’t and be able to assist them with implementing a system.

Mistake #2: Chasing clients. One of the worst things you can do is chase clients. This puts you in a subservient position and severely handicaps you when it comes to closing deals. Use a system to get your idea clients to chase YOU instead.

Mistake #3: Not having an operations methodology in place. Without a process and system, you can quickly run into problems that not only cost time and money, but in a worst case scenario, can lead to a lawsuit. Systems allow you to expand your business and income opportunities even further. Here are a few questions to get you started:

•How will you attract clients, market and sell your coaching or consulting services?
• How will you deliver your services?
• What will your offer be?
• How will you get repeat business?
• How will you turn small projects into big projects?
• What are the common problems that might come up and how will you solve them?

Mistake #4: A target market that is too broad. Picking a niche market makes it much easier to succeed as a coach or consultant. Niche markets offer smaller opportunities than mainstream, public marketplace, but they also provide a long list of appealing, offsetting benefits, including lower testing costs and investments, more predictable results, ease of message-to-market matching, affordable use of many media, more referrals faster, high dollars of sale, high margins, and so on. There is also opportunity to quickly and relatively inexpensively establish a visible, recognized leadership position.

Mistake #5: Not charging enough. Most coaches and consultants could charge between 3-10 times more than what they do. There are A LOT of compensation options and ways to structure your business so that you can leverage your time to make more per hour. Explore your options for the best way to leverage your time and knowledge.

If you want to replace manual labor so you can work less while making significantly more, then consulting/coaching is one of the smartest strategies I know.

Click here now if you want my ultimate consulting and coaching system in a box with ALL the materials you’ll need (including contract and marketing examples) to either augment your existing business or start a new one. Plus, as a special bonus, you’ll hear from Dr. Tom Orent on how to design, market and sell high-ticket coaching and Frank Kern, who makes $175,000 a MONTH consulting clients will tell you his secrets to creating, pitching, and closing high-priced exclusive products like consulting and coaching.

You’ll need to hurry though, this offer is only good for the next three days.

How I Ended Up In The Top 2 Percent…And How You Can Too

By: Darcy Juarez on: December 28th, 2013 1 Comment

Besides marketing, one of the things I enjoy doing is coaching women’s volleyball at a local university.

I began coaching after I was a four-year letter winner and scholarship player as a member of the Redbirds volleyball team at Illinois State University. Not to “toot my horn,” but according to CBS news Money Watch, only about two percent of high school students win sports scholarships every year at NCAA colleges and universities.

And while I’m passionate about volleyball, reflecting back, it took a lot more than my passion to win that scholarship and continue playing at that level. It took more than my devotion to practice and the many hours I competed on the court too.

Sure effort was a big part of it, but without someone to guide me…give me feedback on my serve and technique…help me with a workout plan…give me advice about how to get that scholarship, etc., the truth is, I wouldn’t have gone that far.

One of the ways I differed from players who didn’t play past high school was that I continued seeking advice and listening to it too.  Sure, I knew a lot by then, but I knew if I sought advice and took action on it…I could continue to improve.

In business, I’ve found it be a similar scenario.

Those who seek advice, guidance and take it, rise to the top.

For me, that has come from mentors.

What about you? Do you have a coach or mentor to help guide you and your business to get better?

In Dave Dee’s article, Why Outliers: Story Of Success Got It Wrong, he discussed how having a mentor is a key difference between overwhelming success and mediocrity.

If you’re at all curious about the idea of having a mentor, here’s some information on how to determine if mentoring is right for you:

If you have trouble getting things implemented in your business. If you are like most entrepreneurs, you are very busy which makes it difficult to stick to a time schedule and get things done. Having a mentor will not only keep you accountable, but he/she will help you identify what’s most important to focus on at any given point. This narrows your focus making it much easier to get things done.

If you have questions about what to do and no one to answer them. Mentors with entrepreneurial background can not only be the one to turn to when you have questions, but they can give you advice based on their past experience as well as the experience of their past mentees and other businesses they’ve come across.

If you have no one to brainstorm ideas. Brainstorming often produces much better ideas and can help eliminate ideas that possible shouldn’t be done. However, in order for brainstorming to be effective, you need someone who “gets it.”

If you are always running yourself ragged. As an entrepreneur, it’s common to have a ton of ideas you are always trying to execute. As a result, you end up running yourself ragged trying to do them all. A good mentor will help you identify where to devote your time and energy and can save you time by sharing his experience…such as which things will be most beneficial, which are a waste of your time, and the best resources to assist you so you don’t have to do all the research yourself.

If you sometimes end up doing subpar work because you try to do too many different ideas at once. That’s why you’re an entrepreneur—because you have lots of great ideas. But that tends to make you very busy which means deadlines sometimes get missed. Or you are rushing so much at the end that you do subpar work. A mentor will help you prioritize and keep you accountable so you’re not rushing at the end to meet a deadline.

What makes a good mentor?

The role of a good mentor is to help guide you to make the right choices. Your role as the mentee is to listen to and act upon the advice given.  After all, if you aren’t taking action, then the advice doesn’t do you much good.

A good mentor will…

  • Encourage you and work to keep you motivated.
  • Hold you accountable to do what you say you’ll do.
  • Point out where you are making a mistake.
  • Guide you to make the right decisions.
  • Help you make a plan based on experience that often provides a shortcut to reaching your goals faster.

Common mistakes people make when they work with a mentor.

They stop because they think they know enough. This is what separates the great business people from the pack. Great people never stop learning and looking for how they can improve their game.

They don’t listen to their mentor’s advice. You have to be prepared to take your mentor’s advice, otherwise nothing will happen. After all, a mentor can only do so much. You need to put the effort in to execute the items you discuss and agree upon.

They aren’t prepared for their mentoring session. To get the most out of mentoring, it’s important to know what you want to accomplish and communicate that with your mentor prior to the start of the subject. Also keeping your mentor updated on what’s happening in your business, so they can prepare information relevant to what you need.

Everyone can use a helping hand in business, no matter how successful you are. Mentors can’t do it all for you, but they will help guide you to bigger success—faster than you imagined possible.

NOTE: If you want key ideas on how to craft sales and marketing messages that truly resonate with your ideal clients, so you can always attract a flood of clients or customers and frame your products and services as the ONLY viable solution, then Click here now.

 

Are You The Next “Casey Stengel” Of Your Marketplace?

By: Dave Dee on: December 27th, 2012 1 Comment

He never intended on being a coach.

In fact, his long-term goal was to be a dentist.

Athletically inclined, he played a number of sports including football, basketball and baseball, continuing on in the minor league in 1910-1911 where he saved enough money to go to dentistry school.

However, after having problems finding left-handed dentistry tools, he continued in baseball and was brought up to the Dodgers late in the 1912 season. It was then that baseball became his primary profession.

In 1914, after getting in touch with his former coach, Bill Diver, who was at the time the head coach of football and basketball teams at the University of Mississippi, he got his first coaching experience, coaching the baseball team at Ole Miss to a winning season.

While he was a good baseball player, he was by no means a superstar. But as a coach, he shined.

His name, Casey Stengel. Among his achievements as a coach, he was the only person to manage a team to five consecutive World Series championships.

He was nicknamed the “The Old Professor” or  “Perfessor” because he could talk at great length about anything baseball related. He was inducted into the Baseball Hall of Fame in 1966.

Imagine if Stengel would have stuck to dentistry? Or if he’d never gone beyond playing baseball.  He would not have been remembered or in the hall of fame. Not to mention all the lives he impacted as a coach.

Like Stengel, you may find not only a lucrative income stream, but coaching is where you truly shine. And there’s nothing like the feeling you get when you help someone achieve success.

Aside from the great feeling you get from coaching or consulting, here are seven more reasons you should consider adding it to your business next year:

  • It can be very lucrative. Whether you have a big herd, a small herd or no herd, coaching and consulting is very lucrative which means you only need a few clients to earn big money.  I actually talk about exactly how to do this in my courses Coaching and Consulting Bootcamp and Advanced Coaching and Consulting
  • It can help you create info-products to sell. Coaching and consulting allows you the opportunity to find out the biggest challenges your coaching clients are having which gives you unique insight to what type of products you should create and sell.
  • It positions you as an expert. Coaches and consultants are viewed as authorities in their field. Being seen as an authority and expert gives you credibility which can boost sales of your products and services because people want to buy from experts.
  • It can help you position yourself as a celebrity. You can use your expert status to position yourself as a celebrity.
  • Leap to big money fast. Not only does coaching and consulting give you a back-end product that you can charge thousands of dollars for, but as an expert and/or celebrity, you can charge more for your products and services.
  • Your marketing becomes better.  Because you have special insight into the fears, challenges, and desires of your coaching and consulting clients, you’ll have a better handle on what your other customers, clients or patients are worrying about, wanting  or dealing with. You can then  infuse this information into your marketing.
  • Coaches and consultants are in high demand.  More and more people want to be led by the hand. They want someone to show them how to do things. As a result you can charge big money to help them find the answers.

If you’re looking to really boost your income in 2013, consider adding coaching or consulting to your business. It’s a great way to earn more with less stress. Plus, you can add $100,000 to $1,000,000 a year as a coach or consultant, even if you’re a newbie.

NOTE: Want more insider information on how to leverage marketing and sales to improve your business?  Click here to claim your special free bonus of $633.91 worth of marketing materials.