If you want to create life coaching business, you should be able to get through that process of being able to ask for a sale or being able to ask for enrollment from your client. This is the hard part of having a sales conversation. What you need, while you’re thinking about your sales conversation, is how can you walk your clients through from a place of a situation or a problem that they are in and show them, how you can bring them results. You show them how you can walk them through one step at a time to be able to empower them during the conversation.
At the same point you will try to engage them enough, that when you propose, you’re able to enroll with those clients. With those conversations, they say yes.
How To Increase Dollar Value Of Your Life Coaching Business
The next thing that you have to be mindful of is what is it that you are building as a business. It’s crucial because what happens is, once life coaches get started on one-to-one setups, they tend to just go in one-to-one. They wonder, how can I set up the next session, but that may not be the best utilisation of your time. Think about as a life coaching. When you coach, you’re paid in time. Your money is paid in time. More time you are using, you can charge higher.
Now if your dollar value of every minute keeps going up, your income keeps going up. If you were charging $10,000 and you were giving 10 hours of service, that’s $1,000 an hour. If you’re charging 2,000 of $20,000 and also for 10 hours service, now your hour values $2,000 and there is no real rationale for why it should be $10,000 or why it should be $20,000. The real dependency of it is what’s the result, which your client is getting. Your customer usually is going 10 to 20 X of the results of the time, that you invested with them or the money that they’re invested with you.
Your pricing is really how far you can go and how much you can engage in the conversation now while building a business.
Once you understand the dollar value of your time, you can pick this strategy. It’s hard to find $20,000 clients, but can I create a group package where there are four customers for $5,000.
And dollar value of every minute just went up from a thousand dollars an hour to two thousand dollars an hour. That’s the part where you must build out a system for you.
What’s the way I can keep increasing value of my time because that’s what you’re selling? You’re selling your time, and that’s what clients are engaging with you.
Paulson Four Part Blueprint For Life Coaching Business
If you were starting a life coach business, my first bit of advice would be to go ahead, do it and work.
Second advice is to go and make real coaching conversations.
Third: don’t be scared, go ahead and serve people. Don’t forget to have an enrollment interview.
Fourth is start to figure out your system of saying how is it that I can consistently increase the dollar value of my time. What are the different packages that I can offer?
That’s the four-part blueprint you can use for your life coaching engagement, and if you implement it correctly, I’m sure you coaching business will rise.