STEP TWO Create and Manage a Potential Client List Flashcards
What is the first step in building a coaching business?
Create a list of qualified buyers who would benefit from your coaching products.
Why do most people start a business?
- To be financially free
- Because they are passionate about a product
- To help people
What is a key strategy for finding potential coaching clients?
Look for people struggling with problems that your coaching products resolve.
How many names can you potentially list for coaching clients quickly?
Ten to twenty names immediately.
What percentage of people on your client list might engage your services?
About 10 percent.
How many names do you need to collect to build a successful coaching business?
Two hundred names.
Name three types of small business owners who could benefit from coaching.
- Real estate agents
- Dentists
- Gym owners
True or False: Any business making less than $100 million could benefit from a small business coach.
True
What is one way to introduce yourself as a coach?
Tell people you are a coach repeatedly.
How long does it take for a career change identity to metabolize?
About three years.
What should a former accountant emphasize when transitioning to coaching?
Their experience in identifying business mistakes through profit and loss statements.
How can you further brand yourself as a business coach?
By sending out emails that offer free value.
What is the core function of a CRM in coaching?
To manage a database allowing you to email clients.
List two benefits of maintaining a personal CRM.
- Creates reciprocity
- Keeps you in the minds of potential clients
What should you do to nurture your email list?
Create a CRM and add names and email addresses to your database.
What kind of emails should you send to potential clients?
Emails that offer solutions to their challenges.
Fill in the blank: A CRM is short for _______.
customer relationship management.
What is one common mistake when choosing a CRM?
Selecting a CRM that is too robust for a small database.
What is a significant advantage of managing a CRM?
It allows for effective communication with potential clients.
What should you do if you are intimidated by managing a CRM?
Dive in and play with it for a couple of hours.
How can you use storytelling in your coaching business?
Share your background and experiences to build trust with potential clients.
What is the result of staying in touch with your business contacts?
A larger network and increased familiarity when expertise is needed.
What are some CRMs designed for?
Managing a small database for businesses
Some CRMs offer low-price, entry-level subscriptions suitable for managing customer lists.
What is a key problem with most CRMs for coaching businesses?
They are too robust for managing small databases.
What CRM company specializes in small business solutions?
Keap
What can a well-managed CRM make business growth feel like?
Playing a video game
What should you create to address customer challenges?
A list of the top twenty challenges your customers face
Why will clients hire you as a coach?
To help them solve problems
How can you segment your mailing list?
Based on the problems different clients have
What is an effective way to identify client pain points?
Set up an automated survey inside your CRM
List the six areas that create the biggest headaches for small business owners.
- Leadership
- Messaging and Marketing
- Sales
- Products
- Operations
- Cash Flow
What should you avoid doing in your emails to clients?
Giving away the answers for free
What does the rule ‘give away the why, sell the how’ mean?
Discuss the importance of concepts but charge for the detailed processes
What is the purpose of a nurture campaign?
Help potential clients diagnose and feel their problems
What should be included at the end of each nurture email?
A mention of relevant products for sale
What should you define as your coaching specialty?
Three areas where you deliver the best results
What is a common mistake coaches make regarding client problems?
Failing to list the products that resolve those problems
What is a recommended strategy for engaging potential clients?
Ask defined, repeatable questions to qualify them
What type of questions should you memorize for qualifying potential clients?
Three questions based on your chosen problem areas
What should you view your CRM as in your coaching business?
A community-building tool
What is the structure of a good email to announce your coaching business?
- Greeting
- List of main problems you help resolve
- Testimony of success
- Call to action
- Request for referral
What is a suggested first step when launching a coaching business?
Send an email to your CRM contacts announcing your coaching services
What is a common challenge small business owners face?
Managing their teams effectively
What should you do if potential clients express frustration about organizing their team?
Offer your management playbook as a solution
What is the goal of asking qualifying questions to potential clients?
Help them realize they have problems you can solve
What should you do after meeting a potential client?
Send them a follow-up email and enter them into your segmented list
How should you communicate your expertise in your emails?
By mentioning your coaching products and how they solve client problems
What is the main purpose of the email described?
To resolve management issues and help grow small businesses
The email encourages small business owners to reach out for assistance.
What was the financial outcome for Brad after sending a similar email?
$45,000 per month in coaching and consulting within six months
This highlights the potential effectiveness of well-crafted emails.
What is a risk-free taste of coaching mentioned in the text?
A small community curated and fostered by the coach
This allows potential clients to engage without financial commitment.
What is the purpose of hosting a monthly breakfast?
To build a community and allow potential clients to experience the coach’s environment
The breakfast serves as a non-committal introduction to the coaching experience.
What should be emphasized when inviting potential clients to the breakfast?
The focus should be on solving their problems
This approach enhances the value proposition for attendees.
Why is it important for potential clients to attend the breakfast?
To build trust and familiarity with the coach and the community
This can lead to future financial commitments.
What is a key strategy for delivering keynote presentations?
Start with the problem you solve
Engaging the audience right away increases interest.
What is a recommended method for collecting leads during presentations?
Feature a lead generator with a QR code
This has been shown to significantly increase email sign-ups.
What is an effective closing statement for a keynote presentation?
Restate the problem and offer a lead generator solution
This ensures the audience remembers the key message.
What is a webinar in relation to coaching?
A free online presentation to engage and attract potential clients
Webinars can be a practice platform for presenting skills.
What should be included in a free business assessment?
Questions to identify client struggles and explain solutions
This helps in gauging potential client needs.
How many paying clients are typically needed to build a successful coaching business?
Fifteen to twenty paying clients
Converting 10% of leads can achieve this goal.
What should existing clients be encouraged to do?
Invite friends to events like the monthly breakfast or webinars
This can expand the coach’s community and client base.
What is the primary objective when starting a coaching business?
Building a community
This is considered more important than immediate financial gains.
What is essential for growing a coaching business effectively?
Lead generators, a CRM, and follow-up emails
These tools automate and enhance outreach efforts.
What is the time required to qualify and nurture a lead once a CRM is created?
About two minutes per lead
This highlights the efficiency of using a CRM.
