Coaching as a Tool

I work with many entrepreneurs. Each is unique in their business models, industries and offerings. However, there seems to be one common thread that I find with my clients, they all like to coach their clients. No they are not all coaches.

Mini-Case Study of a Coaching Non-Coach
I work with an accountant who is not satisfied with preparing taxes, he wants to guide his clients to help them make good decisions in their businesses. He coaches his clients so they look ahead and make good decisions that will secure their financial future and insure a sustainable business. The funny thing is that he never realized he was "coaching." It was just part of what he does. So now, when tax season is over, he is not done. He offers a quarterly coaching program. This includes several phone conversation, reviewing of monthly financial statements and a set amount of email communication.

The benefits for his clients: They get on-going support throughout the year. They also do not get surprises at the end of the year. In the last quarter of the year, they are able to make educated decisions in order to ensure they are not hit with a high tax liability. They also get long-term as well as short-term strategies.

The benefits for him - the accountant/coach: He now has a new revenue source/profit center. This is a great source of cash flow that is predictable. This also allows him to continue to grow and develop a long-term relationship with his clients.

When you start to add up all the benefits you see the win-win. The next step is to create a deeper win. As he grows the coaching/retainer accounts, he can create a mastermind group or training for his clients. This will allow him to do some group coaching/training (for a fee) and his clients will be able to network and possible develop some business relationships that had not been possible before. Pretty cool.

So if you think that coaching might be a great profit center to add to your practice, consider going to the following training. I will admit that I am a volunteer helping the facilitator with this event. I cannot imagine a more worthwhile event. To learn more about how you can add coaching to your practice or your business tool bag, check out: The Coaching Super Summit. It is going to be in Baltimore and it will be life and business changing.

Moms, Summer, Kids and Business

What do all of those words have in common? For me it is a bit of chaos. I must be honest, I find Summer to be a difficult time to maintain, let alone build a business. I find myself juggling meetings and running kids to camp. I find the mind shifts getting harder and harder to make. Maybe its an age thing, I don't know, but I know from September to May, I feel much more present in all of my worlds than I do during the Summer. I might be the only one experiencing this, but if not take heart, you are not alone.

So what can be done. Well as you know hind sight is 20/20. As I reflect on my year and start to plan next year I have developed an outline of a plan. For me I will need to focus generating the bulk of my revenue from Mid-September to May. I will plan events and trainings during those times. I will schedule R&D (Research and Development) of new products and trainings during the Summer. I can do that on vacation or during those moments when I am waiting to pick up or drop off. I will plan limited meeting for the Summer and know that I am set.

I don't mind the pain I feel now knowing I have a plan for next year. You see I have chosen to learn my lessons and to hopefully not repeat history.

It pays to know your customers

I just finished working with a client who owns a small fireworks tent business. He is basically in business two weeks a year and some planning the rest of the year.

One of the things he does is ask people to sign his mailing list. In the town he is set up in that is a daunting task. People are very private and don't want to get on a list. He typically gets about 10 to 15 people per year to sign up. Each year he adds to his list and sends out a letter a few weeks before he sets up his tent. In his letter, he lets his customers know when he will be set up and makes a limited time offer. This year he sent out 22 letters. Of the 22 letters 2 were returned because of bad addresses. Of the 20 remaining, 11 were returned. That is an amazing statistic. What is more amazing is how excited the people where that he was coming back and how they looked forward to coming to his tent. They all made substantial purchases and felt welcomed.

The main comment my client heard was how nice it was that he personalized the letters. The key was the letter was short and sweet, one paragraph long. Then he hand wrote a note to each one, mentioning something he noticed about them. They knew he paid attention to them. One simple letter that probably took him an hour to write, generated lots of good will and revenue.

Yes Virginia There is a Santa Claus

Every now and then you need a bit of a lift, a pick me up. Yesterday was one of those days. I was checking my emails and my mentor sent me this link which he had on his web site: www.vicjohnson.com. He is a motivational guru. Anyway, if you ever have one of those days, open this link and enjoy and remember anything is possible. Link: Dream a big Dream.

To blog or not to blog . . .

That is the question? I say blog. I love to write and to pontificate. So what if no one is reading, it is still out in the universe.

For business, blogging is an opportunity to share insights, thoughts, concerns and latest tips and tricks to help your clients. It's all good stuff. I like to think of a blog as an online newsletter. It gives companies a way to stay current and relevant in a rapidly changing and disposable world. Here you can be up to date in seconds.

So I say go ahead, blog away.

Blogging as a Metaphor

I just found a cool blog and the blogger sent out a challenge as a group blogging challenge. How would you explain blogging to your mother? Specifically, as a business strategy. I found it because I was looking for cooking metaphors, so here is how I would explain it to my mom.

Mom, in business we have many tools we use to get the word out about our businesses. Traditionally, we use yellow page ads, networking, word of mouth and web sites to name a few. A new tool that I like to keep in my tool box of marketing strategies is a blog. Blogs are a way to stay relevant and current, to unleash my creativity and allow my web site to to be a place people come back to. It is my hope that if I blog often and well, people will long for the next edition and thus I will be in the "top of their minds" when they are in need of my services.

So for me a blog is a tool I use to help me get the word out. I like having lots of tools.

The Verdict Is In -- The Business Marketing Gym is a Success!

I have to admit I was nervous about today. When ever I launch a new program I have butterflies in my stomach. The good news is they were flying in formation. I was able to harness the energy.

After everyone was fed and formally introduced, we jumped right into the meeting. In no time the group was helping each other create customized "30-second commercials." It was amazing how quickly everyone bonded. Before the meeting was over two members found a way they could work together in a Joint Venture. In fact, it took a little creativity, because it was not obvious at first that they would make good joint venture partners, but once the match was made, I could see the wheels turning.

I find myself really looking forward to the next meeting.

Why You and Why Now?

Those are words that might strike fear in the heart of normal people. It doesn't have to though. If you take time to know what your fit is and what makes you different, then this will be just a normal every day conversation. Over the years I have done lots of research on this topic of "differentiation" and my favorite way to describe it is this way. There are three ways companies can differentiate themselves.

1. Cost - They are the cheapest in town (when you think low price I am sure a company pops into your mind immediately.
2. Technology - You can have cutting edge technology, the latest and greatest. Usually this is not low price. (Again, if you think about it you can come up with a company that is known for its technology savvy.)
3. Customer Intimacy - This is when you take the time to really service your customers, get to know them and stay in touch with them, even if they don't buy right away. (This is how a lot of the VIP programs were developed, to learn more about their customers so they can service them in a meaningful way.)

So the question is do you want to be known for low price, high tech/expensive or customer intimate/driven? Once you make that determination, then you can put your game plan together.

Are you fishing in the right hole?

I was reading a book on Rainmaking and the author suggests that sometimes being a Rainmaker is as simple as fishing where there are fish. He notes that people spend lots of money and time on the right fishing rod, bait and tackle. They work on their technique. They spend their day wondering why the fish aren't biting, only to realize there aren't any fish. Do we do that when we are out marketing and selling our wares?

Do we know our niche? Who are we selling to? Do we know where they hang out? Do they have the money to buy? Are we speaking their language? Do they understand our fit? After all what good is walking into an assisted living facility with play equipment for children. Are we networking at a Manufacturers Association when we need to be speaking to Human Resource Professionals.

Go where the fish are and then carry use the right bait.

Have you found your voice!

I had a delightful Mother's Day weekend which included a Family Movie Night. The movie we watched was Happy Feet. It was a delightful story and for me the take away was "Find your voice and be the best you you can be - In other words, Be Authentic." I have seen this lacking in the business world. Especially when it comes to Entrepreneurs who go from one project to another depending on which way the wind blows or where the money is. I have come to understand that it might make sense to slow down to speed up and find your self. Your True North as Covey says. Then, and only then, can you know what your fit is in the world. That will be the passion you bring to the marketplace. Then the money will flow and it will never feel like work for you will be honoring who you are.

Coming of Age

It sounds silly, I have been in business for over 14 years, yet this week I did something that was way out of my comfort zone and made me feel "grown up." I had a professional picture taken. It seems like a little thing, but for me it was huge. At first it felt somewhat self indulgent. Then I realized this is all about business. I teach my clients to put their best foot forward, after all you only get one chance to make a first impression. So I decided it was time to have my first impression a lasting one.

So take a look at your pictures, are they professional, are they outdated? If you answered yes, consider meeting with a photographer and getting it updated. And by the way, they can work miracles.

Press Releases

I am always looking for ways to help my clients. I recently stumbled across an online Press Release service that is easy to use and pretty affordable. It is PR.com. What is cool is about it is that you can create a press release and send it to a specific target audience. For example: I created one that I wanted to get out to the business community. I used the general category of Business. You get one category for free, so it was free. In one day it came up on a search engines! With just a little budget you can get more exposure. Check it out.

Drip, Drip, Drip . . .

Have you heard the term "Drip Marketing?" I intuitively knew what it was, but just learned the term. What it means is to continually keep a client or prospect taken care of by touching base with them on a regular basis. This is called "customer intimacy." I love the concept of creating a schedule of events that you implement on a monthly basis so that you can let your clients and top prospects know you are there. It is as simple as once a month sending items like a relevant article, a thank you card, a survey, a referral request/card or a holiday card. The key to making this work is a good contact management system so that you can automate the process. So don't forget to drip on your customers, or they won't grow with you!

Birth of a Gym

After some market research and some conversations with clients and friends, the Business Marketing Gym was born. What is the Business Marketing Gym? It is a mastermind group for business owners who want to build their businesses and create a lifestyle not a job. In the Business Marketing Gym there will be a training session and then there will be a mastermind session. During the mastermind session the group will problem solve and create together. It is very exciting. What is more exciting is that I get to work with the people I already love to work with and help build their businesses. I will partner with some of the brightest minds in the area to bring real value to the group. Stay tuned to hear more. And to check out more about the Business Marketing Gym got to www.businessmarketinggym.com.

Are you Referable?

As I help my clients with building not only a business development program (new revenue) but a retention program, I am struck by the concept "are you referable?" After all the best way to get new business is to work referrals, but that asks us to assume that we are worth referring. Is that always true?

I recently sat in on a meeting to help hire an administrator for our school. As the parents sat in a circle grilling (interviewing) the candidate, it became very clear that there was a clear sense of unhappiness amongst the ranks. I am relatively new to the school so I had not formed an official opinion one way or the other. My needs are being met. However, my kids are young, still in the pre-school and lower-school. Clearly it becomes more critical as they move their way up the school system. So I started to hear the rumblings of unsettled and unheard parents. What struck me came from a marketing standpoint. Retention was an issue. And clearly it was not being addressed to the satisfaction of the parents. So I asked myself the question, if we cannot retain our families, how are we going to get referrals.

Even in a school environment, customer service is critical. In fact, it is the most important thing. Yes, the kids getting a superior education is important. Yet if we don't treat the families being served by the school with respect (which include the parents and kids), the school cannot expect to grow.

This is a good lesson to learn as I help my commercial clients to take care of their customers before they are asking to be taken care of. When you do that, the business will come.

Sharing the Love - Love of Customers!!!

Have you ever thought of doing something special for your customers? After all it is Valentine's Day and we love our customers, right? So try something different to stand out from the crowd. Take your top 20% and send them chocolate and tell them how much you appreciate their business. If there is a gatekeeper you have been trying to get past, send her a stuffed bear holding a heart and say "I've been trying to win you over, Happy Valentine's Day." Use this time to think outside the box.

Tell me a story . . .

I just mentioned my 5-Minute Networking experience. While I was there one of the participants sat down in front of me and asked me to tell her a story of what I do. I was taken back. And then I realized how easy it was to give a testimonial through a story. In those 5-minutes I shared more and learned more with her just because we each told stories. We were both excited and proud to share our experiences. It felt more like I was talking to a friend.

The next time you are out at a networking event, try using a story to make your point. In fact, start collecting your stories now and have them ready to use when you need them. It works!

5-Minute Networking

I just experienced a new form of networking. Our local Chamber held it's first 5-Minute Networking event. There is a web site that explains more about it: http://www.5minutenetworking.com/. I was not sure what to expect at first. After all, what can you get done in 5 minutes. It's amazing how nice it is to have minutes to truly talk to someone and hear what they do and share what you do. It was a fun event, and beneficial.

When I think back on the Business After Hours, I realized you don't even get that much time and no one wants to hear your sales pitch then. Here we were in a focused meeting to just give our sales pitch and we had 5 minutes to do it. Brilliant. I cannot wait until the next one.

Goal Setting on Steroids

Ok, I know that sounds a bit crazy, and maybe it is. I am so excited that I wanted to share with you an article I found about a goal setting program that is so amazing I am convinced that I will hit new marks this year! I hope you enjoy it.

How to Set Personal Goals That Inspire You to Take Action
Remember when you thought you could do and be anything? The innocence of early childhood is perhaps the last time you were unencumbered by perceived limitations and labels. Personal goal setting was simple, and there was no doubt you could achieve anything.

When asked, “what do you want to be when you grow up?” you would have responded with whatever struck your fancy that day, whatever you were “in to.” You did not concern yourself with how you would do it, if you could do it, or if you should do it. Your dreams were based on what you wanted, pure and simple. You set personal goals based on wonder and curiosity, not practicality.

The dreams of childhood were big dreams. Travel into space, win a medal at the Olympics, become a rock star. Soon enough the dreams become modified to reflect what is practical and expected of us. This is precisely when most people start having trouble setting personal goals. The dreams are no longer larger than life, so why take steps to achieve them?

Big dreams inspire big action. When you set personal goals, they need to have huge payoffs for you in order for you to take consistent steps to achieving them. You need to feel excited – even giddy – at the prospect of seeing your dream come true.

When you aspire to something that is less than what you really want, procrastination sets in. With a big dream in your sights, procrastination is a lot less likely to occur. You may have heard of making a “life list” of places you would like to see, things you would like to try, and dreams you would like to see realized. Instead of making a list of goals based on what you think is attainable or would fit into your life, start your personal goal setting with a life list of the big stuff that really gets you going.

Here again, draw on the feelings of childhood for inspiration as you set personal goals. Remember the annual letter to Santa Claus? Even if you did not celebrate Christmas, you can imagine the wish lists sent to the North Pole were not full of realistic, practical requests. They included the biggest, best gifts a child could think of, because there was always the possibility that Santa would bring you exactly what you wanted.

Dreaming big has the added benefit of inspiring others to come to your aid in your pursuit of the goal. If your personal goal setting is limited, or “small,” why would anyone want to help you achieve them? People want to be part of something special. Big goals motivate friends, family, and even complete strangersto help you reach them.

When you set personal goals, go back to those childhood aspirations. Sure, you may not want to be an astronaut anymore, but the old dreams can spark new life goals. Perhaps you would like to go to a grown-up space camp or become an amateur astronomer. Whatever goal you set, make it big. As the ancien temperor Marcus Aurelius said, “Dream big dreams; only big dreams have the power to move men’s souls.”
Copyright © 2006 Vic Johnson

Vic Johnson is a popular motivational speaker, author and Internet Infopreneur who has created some of the most visited personal development sites on the Web. To learn more about the power of big dreams in goal setting, download a free copy of 13 Secrets of World-Class Goal Achievers

A Time of Renewal

I have been so busy in the last month that I have not updated my blog. In fact, I was so busy, I didn't even remember I had a blog. So today I took a deep breath and decided it was time to reflect and regroup. Here I am at the computer, just me and my thoughts. As I look back on 2006 and look forward to 2007, I am amazed at what a difference a year can make. I think everyone should take a few minutes to review and refocus. It is a time of reflection, a time to purge and time to cleanse. As it relates to business, it is a time to set goals, eliminate distractions and to slow down to "smell the roses" while you plan the year.

With planning in mind, I recommend developing a plan that looks out and then focuses in. For example:
How much money do you want to make in 2007?
How many sales a year will that be?
How much is each average sale?
How many people do you need to see and how many will you close?
How much vacation do you want?
When you obtain that goal, what will be your reward?
How will you reward yourself along the way?
How will you know when you are successful?
What is success to you?

These are just some of the questions I ask myself as I develop my annual plan. Good luck, and I will look forward to great new things for all of us!