Week 3: Coaching Earning Statistics & The 20-Point Effective Networking Checklist

Welcome to Week 3!
Watch this video for a short welcome message… some news… request for help… and some inspiration 🙂

How to Set Up Your Profile Page on myCoachingCenter.com

Here are some instructions on how to set up your Profile Page.  You’ll soon see your profile page listed under the Meet Our Coaches tab (just hover your mouse over it – or click on it).

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I remember reading some statistical data suggesting that about 80%
of coaches make less than $10,000 per year, and only 2% make a
6-figure income.
I’d say that being somewhere in between those two

extremes – somewhere in the middle – would feel pretty cool for
most coaches…

So what is it that makes the difference between a 6-figure
income coach and financially struggling coach?

Is it their training? – NOPE!

Is it their certification? – NOPE!

Is it because they are great coaches? – NOPE!

Is it because they have more charisma? – NOPE! (ok, maybe a little 🙂 )

Is it because they have better connections than you? – Well, some, maybe… but my answer to this question is also – NOPE!

So what the heck is it???

Well, I’m sure you guessed it by now, but if you didn’t here  it is: it’s their MARKETING SKILLS!
Yep, their marketing skills. You can be the best coach in the world (and I’m sure you are pretty good, or great), but you won’t
attract clients unless you know HOW TO let the world know that you exist, AND (equally important) let the world see HOW GREAT you are.

 So, I’d like to congratulate you for going through the 100-Days challenge and for keeping up with the weekly tutorials and instructional articles!

Keep up the great work, and you’ll start having more clients before you could say Donaudampfschiffahrtsgesellschaftskapitän (longest German word – it means “Danube steamship company captain”)

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Today I want to share with you…

The 20-Point Effective Networking Checklist

Networking is one of the most effective ways to getting new clients and staying visible – and getting known – in your community… and ideally getting know by your target market.  Here are 20-points to follow to transform you into a “Professional Networker” – keep on attending and keep on polishing this skill and you’ll be surprised by the results you’ll get (that is, if you have the Week1 and Week2 foundation elements in place)

  1. Identify your target market/ideal client

  2. Identify “networking” groups where you can get in front of your target market/ideal client and find out when they meet (chamber of commerce, BNI, other networking groups in your community or neighboring communities, conferences, Toastmasters, etc.)

  3. Plan to attend – put it on your planner (organization/planning is half of the secret of success)
  4. Create a business card that serves as a lead-generation tool – 10 Tips to Creating a Client-Attracting Business Cardhttp://yoursuccesschecklists.com/client-attraction-strategy-transform-your-business-card-into-a-client-magnet/* – to use this business card strategy effectively – and to successfully grow a list of followers/prospects – you need to have a landing page to collect names and email addresses (contact me, if you need help with that)
  5. Set specific goals for your networking event: – do you want to find strategic alliance partners to market to their existing clients – do you want to find new clients? – how many connections will you create (how many business cards and appointments will you get)? * – make sure to take notes on each card that you collect: record topic discussed, appointment date/time if you set one up, etc.
  6. Plan a few conversation starters (depending on your group)
  7. Have a short – 3 to 5 second – elevator pitch that you can use to answer the question “What do you do?” and memorize it. For example, “I work with small business owners who want to become more productive and increase their profits by 50% or more”
  8. Have a longer – 30 seconds to 2-minutes – elevator pitch that answers the follow-up question (that potentially follows your statement in point 1 above), such as “Interesting, how do you do that?” For example: “”I help struggling small business owners who want to dramatically increase their cash flow. I help them implement proven and tested strategies and tactics they need so that they can immediately generate more leads, attract more clients and make more money than they have ever made before… even in this horrible economy.”* Have 2 short elevator pitches in your “pocket” – one that you use when you stand up and introduce yourself – “Hi, my name is Jimmy Johnson – I help individuals who (describe themajorchallenge)…. by (how do you help them)… so that they can (what will the end result be); and one that you’d use when you are asked “What do you do” type questions (for both of these you can use the formula presented in this paragraph.
  9. Try to keep control of the conversation by YOU asking questions first – keep the questions open
    ended and show genuine interest to the answers received. For example “What do you do?” “What do you hope to get out of this networking event?” (listen for clues whether they are looking for your services) “What type of people would you like to connect with – I might be able to introduce you to some of my “friends…” “How’s business these days?” (if you are a business coach, stress-management coach, or other business-related consultant/ professional, these answers can give you clues to what challenges your “prospect” faces and how you might be able to help.)
  10. If appropriate, give referrals (never to competitors, though – duh!, right?)
  11. Introduce yourself with whichever elevator pitch feels more natural (the shorter or the longer one). If during the discussion they ask what you do, then you follow the process as described in point 1 and 2. If on the other hand you did a great job and controlled the conversation by asking questions… then introduce your services after you got your prospect talking about their challenges that you can help them with.
  12. Ask for an appointment IF you see a clear match – that is, you see a real need for your service AND it’s likely that they can afford your service. You don’t want to waste your time or their time, if there’s no clear match.
  13. Once back in your office, add contact into your contact-management database, record what you talked about and any other observations you want to record; and schedule follow-up (ACT, Outlook, Infusionsoft, etc.)
  14. Decide whom among your new contacts do you want to develop stronger relationship and act on it (schedule meeting, lunch, send them a relevant freebie, etc.)
  15. Follow-up on any promises you might have made during the networking event (referrals, resources promised, etc.)
  16. After event, follow up with an email within 48 hours – “Hi John, it was really nice meeting you at the… I was wondering if you’d like to have lunch sometimes next week…?’
  17. Send out physical Thank You card to those who you met after the networking event – thanking them for their time and expressing your gratitude for the new (professional) relationship (new contact)
  18. Keep adding notes to your Contact Management Database on your progress with each of your new contacts
  19. Plan to attend the next networking event(s)
  20. Become a life-time student of networking, always learning how to improve this “skill” – it’s one of the most cost-effective and practical way to get new clients, so do invest time in getting really good at it.

Your Assignment: Look up all the networking events in your area and plan to attend most of them (you should have your business cards ready – and remember to bring them to the networking event 🙂 – with your irresistible offer on it, as described in Week2)

How many networking events did you find in your area?  How much does each cost?
How many of them did you put on your planner and committed to attend?  
What are some of your fears… hopes… questions before you head out there… Post them below…

Share Your Questions and Comments Below…

68 responses to “Week 3: Coaching Earning Statistics & The 20-Point Effective Networking Checklist”

  1. Amazing topic! thanks a lot! I also have a question about the Profile Page on myCoachingCenter.com – As I´m from Brazil, should I write this in Portuguese or english? Thanks again

    Reply
  2. I have only found 2 networking groups in my area. One I have started attending the past few months- the other I will sign up for. I am working on building a website and on getting my irresistible free offer made- so I plan on getting new business cards after I have those 2 things done as I want them to be on the cards. Since my ifo and website must be in 2 languages I find that this is really slowing me down!

    Reply
  3. Hi. I have been unable to find the site where I post my profile. I have tried mycoachingcenter.com/wp-admin but to no avail….

    Reply
    1. When you go to http://www.myCoachingCenter.com/wp-admin , click on Register; your log-in credentials will be emailed to you… then you can log in and post your profile. The video should have the step-by-step instructions — above on this page. If all fails , feel free to send the info to me, and I’ll post it.

      Reply
  4. Well… I got 3 networking events scheduled. They just happen to be in February. If week 3 was week 1, I would have been able to have 4 scheduled since one was last week. Oh well.

    Oh… I also restarted a bi-weekly networking group that I was in back in the day. So all in all good stuff! I'm averaging 3 hours of daily "zone" time!

    EG. I'm breaking down and ordering new cards. 100 this time NOT 500. You and I can build a castle plus the village with all of our cards just sitting in the drawer! LOL!

    Reply
    1. Yes, don't order 500 (or more) for the next 3 to 5 years ever again 🙂

      You probably heard my story that when I moved to my new house, I threw away about 20 boxes of cards that I collected throughout the past decade.

      Reply
  5. Oh! and how do I include a testimonial in my profile?
    Positive vibes!

    Reply
    1. Just post the testimonials in your profile, and I'll add the boxes for you (unless…. you can include your testimonial under your profile blurb, then highlight the testimonials, and see if a tiny pink square appears in the editor – all the way to the right… Click on it, (if it's there) and when the big box pops up, simply click Insert, at the bottom of it — you can pick different types of boxes by clicking on the drop-down menu on the top… I'll create a tutorial video on it – IF the pink little thing shows up on your end. Right now, if you don't see what I"m talking about, I'll add the boxes for you…

      Reply
  6. Hi EG and fellow coaches!
    I submitted my profile for review but I can't get an image in my profile. It only seems to take web based ones – how di I load one from my pc?
    yours@confused.com

    Reply
    1. I had the same problem. I finally just copy and pasted the headshot directly onto the draft. Once it was on the page I could edit properly.

      Reply
  7. I'd love to have a marketing buddy – someone to be supportive with, give ideas, think out loud. Anyone interested?

    Reply
    1. Great idea – does it matter that we're on different continents? I'd be up for that!

      Reply
  8. Hi E.G. I have a couple of questions:
    1. This mail was posted as Week 3. I never got any Week 2 from you. Is it a writing mistake or did I never get your previous mail?
    2. Can you define "networking events" please? We don`t have any meet up groups in Europe, and it looks that there are no other events in my community either. What specific shall I look for and where?

    Thanks in advance!

    Reply
    1. Hi Janna – Congrats on enrolling in the 100-Day Client-Attraction program!

      My answer to your 1st question is not pretty, but hang in there 🙂
      I send out the Weekly posts as they happen… so if you signed up in the past few days, then you got an automatic email with Part 1 (if you didn't let me know – also check your spam folder), and you ALSO got the message about week 3 that I sent out… Now… it gets a bit sticky here… My autoresponder will send you part 2 in about 5 days after you signed up, then part 3 (again) and so forth… So, yes, you'll more likely get 2x most of the weeks' posts. I hope hitting the Delete button once a week is not a bad trade-off for the benefits you get from the program. (let me know, though, in a few days if you did not get part 1 and 2 in the mail — MEANWHILE, you can just hover with your mouth over 100-Day Challenge in the Navigation Bar, and you'll see there the past 2 weeks challenges.

      2. Hmm…. Every developed country has some type of business meetings – if not, you are in luck, as you can start your own networking groups and invite business people to come and connect. Look for Business Associations and ask them about business meetings/ networking meetings… or maybe they call them "parties" 🙂 Do you have a chamber of commerce? Talk to some business owner friends… do some research for the keywords "networking" + add your city name; or "business meeting + your city name"

      Let me know how it goes….

      And maybe this is the start of a great journey for you, as you'll start your own networking group and become super rich and famous 🙂 — There are groups here where members pay $500/year – imagine having a group where 100s of business owners pay you to have the chance to meet other business owners once a month and get more business that way….

      Reply
    2. E.G.,thanks a lot! I found an Expat group and a Business association for women in Oslo. As to the e-mails, I agree- it`s better to get a couple of mails too many than too few! 🙂

      Reply
  9. After being sick for all of January finally getting started on these challenges.
    Networking is a bit difficult for me, as I live in China and the expat community is rather small. I was focusing my efforts on email coaching and coaching by phone, but I'm going to start expanding into more personal coaching.
    So I am planning on going to a few of the events around the city that I usually avoid, such as an Expat board game day, a cocktail mixer, and a book donation charity event. That's about all that's happening this month due to the Chinese Spring Festival, where everyone leaves town. One good thing is that these don't cost much, less then $20 American.
    Now I just need to make a business card and I'm all set.

    Reply
    1. Graduated from high school in Taiwan – actually spent two tours of duty there – my father was the Army Attache. In those days you couldn't go into the mainland. Where are you and what are you doing there?

      Reply
    2. Daniel, my coolest coach 🙂 – I'm a great lover of China… spent there some time, and had I not married a non-Chinese (wonderful) lady, I would have probably spent most of my life there (down in South – probably in between Wenzhow province and Shanghai – I love that area)

      If printing prices are similarly low as when I was three last time (e'hm! about 20 years ago), you'll probably get the best deal of all of us – just make sure to tripple check the spelling, as they mispelled my cards a couple of times…

      Do you have a website? A niche…?

      Reply
    3. I'm in Nanjing. I've been here for six years, despite the original plan of moving to a new city or country every year. Falling in love and marrying definitely changes plans.
      At first I was an English teacher, until last summer actually, now I'm tutoring to pay most of the bills, and working as a writer, and motivational coach.
      When were you Taiwan?

      Reply
    4. E.G. Sebastian
      Hi Sebastian. I'm not sure what the printing prices are, the last time I got business cards for tutoring English, my wife got them, and while they looked good, the ink had a habit of smudging if they got wet. I'd guess for about 500 cards, it would cost 10 dollars American.
      I live about 1-2 hours away from Shanghai by train, it is a great area. But the winters are cold due to poor heating. First time I've ever had to wear long underwear and I'm from Northern Canada.
      I do have a website, and a Facebook page for it, http://www.lets-get-happy.com
      It started off as a general life coaching website, but gradually shifted to motivational coaching for people who want to change careers, or start their own business.
      Cheers

      Reply
      1. Daniel, sorry – I didn’t see this reply…

        Yes – ouch! – winters in the south. I’ve been always cold down there… As they don’t use heating during the winter, I slept through “countless” nights of freezing. NOT good memories 🙂 Also I got constipated after a few days, as in Wenzhou there were only public toilets, and I couldn’t do my “business” as everyone would gather around me to watch me (they say they’ve never seen a white man in the area thill then – especially a blond long-haired one with blue eyes… Finally my friend asked me why my head is turning blue :)… and suggested I go to the paid “bathroom” down the street. Wow! What a relief 🙂 No one was using that one…

        Also… it was the first time in my life to see urinals outside of the bathroom, in the street. People would just stop, pee… while the crowd would just walk behind them…

        With all that said – I have some wonderful memories from down there. I’ve been there probably in three different seasons. Crossed the Yangtze (oh, or maybe the Yellow River) and taught English in some remote villages… and was always treated like a king.

        I miss it…

        (sorry about the “cool” bathroom story – I hope not too many people will read this far 🙂 )

        Reply
  10. A coach who I know makes $20,000 a month said to me. Your cash flow will reflect your calendar. The more you are out meeting people and having coffees, the greater your chances of landing a client. Another coach set a target of having 10 coaching conversations per week when she got started and had a waiting list within 8 weeks.

    Myself, I have set a target of meeting and connecting with 50 people per week. So far I have found smaller networking groups via Meet-up to be the best way to connect with people to generate follow-up conversations, workshop attendees and clients. I also have my own Meet-up called Perth Self Awareness with 15 people coming to my first meeting on Saturday! Hugs

    Reply
    1. Cathrine, great stuff!!!!

      I'm coaching an insurance sales person, and asked him how often he eats out… "A few times a week" came his answer. So, my "homework" for him was "Never to eat alone." So now, instead of just sending out follow-up emails after his networking events, he sets up lunch dates… And, no, you don't have to pay for those lunches – just ask to meet for lunch… or as some of my clients do, they meet for coffee or tea…

      Setting "conversation with prospects" goals is a super great strategy. EXCEPT, have to be careful to converse with POTENTIAL clients, NOT with everyone. Hence a niche and a clear target market is so crucial. '

      It's a numbers' "game": if I, as a marketing coach, talk to 100 small business owners who struggle or want to get more clients/increase their revenue, I close 40 to 60% – most of them to my membership site, some to group coaching, some to coaching, and some only for a few hours of Marketing Consulting/Mentoring. BUT, I only talk to small business owners who just started a business, or are struggling, or want to earn more. I don't talk to factory workers, engineers, or doctors – only small business owners (though currently I do serve a multi-million dollar company's CEO as well)

      So, each of you should have a pre-qualifying "system" in place, such as an resistible offer on your site (where they have to opt in), or an assessment (on your site – built with surveymonkey.com, for example), or an assessment that you mail out… either way, these tools should help you see how serious the need is for your service (and ideally find out whether they'd be willing and able to invest in your service — if you target professionals, business owners, or wealthy individuals; and you offer a solution to a major problem or desire they have, you are in…)

      Reply
  11. I have an Arbonne friend who invites me to her events. I love the women I meet through her and have one potential client so far. I just emailed her after reading this to thank her for thinking of me when she holds events (obviously she wants me to sign up for arbonne too, but we are aligned in terms of networking so it's all good). Hopefully I'll be able to help her out one of these days too. In terms of BNI, I could join a group here, but I have fear that I could not give referrals to others in the group b/c I'm at my desk all day. It's a lot of contractor/trade people too so am unclear about that. Any thoughts?

    Thanks again!

    Reply
    1. Glad to hear that you have a cool friend who takes you with her to her networking meetings… You also have other networking meetings in your area, such as Chamber of Commerce (about $20) and many others – some free, some a few dollars. BNI is pretty restrictive and very expensive. If it's a large group – and you have a niche that they might find referrable – then it might be worth investing in it… otherwise, you find yourself stuck in the weekly meetings, unable to refer and unable to get referrals (if you miss 3 unexcused meetings, they "fire" you).
      The key is to keep attending as many events as possible – especially the ones where your ideal target market hangs out, and follow the 20-point checklist I just shared (and give out the business cards that were designed through my tips).

      (We have 2 BNI groups close to me: one referred $50,000 worth business among members; the other referred $1.4 million worth of business to one another…. I'd consider joining the $1.4 mil group, except I get enough clients through my online efforts and would not keep up with the weekly meetings. BUT during the first 3 to 5 years of my coaching practice, I rarely missed any chamber of commerce events – I was a member for about 7 years – and was always looking for ways to get in front of all types of crowds, including Toastmasters, Rotary Clubs, Young Entrepreneurs Group, and anything else that'd pop up in my way)

      Reply
    1. You can email it to me (info at getMoreClientsPro . com … or upload it to your blog and send me a link… (use your creative side 🙂 —- or mail it to me… by pigeon 🙂 )

      Reply
  12. Hi EG – is there a reason why the comments are linked to facbook? Only it's a pain when it keeps matching your typing to people in facebook! Positive vibes
    Irene

    Reply
    1. It's easier than the WP comments, as people don't have to keep filling out their names and email… Yes, those pop-up names and stuff is a bit annoying 🙂 Maybe there's a solution that I can research 😉

      Reply
  13. Hi EG
    i can't figure out how to paste in the image of the card I've made so here's a description!

    Dr Irene Irene Swarbrick.

    My Photo Here Speaker, Author and Development Coach.

    Your Project People Coach.

    helping make soft skills less hard.

    Emiail.

    Website.

    Contact number.
    Back of card.
    Improve Project Success with a Solutions Focus.

    Download your Free E-Book.
    for a simple win-win technique that reduces time.
    consuming interruptions and promotes initiiative in your project people.
    http://www.ProjectBehaviours.co.uk

    Solutions Focus Coaching and Consultancy.

    Reply
    1. OK let's do that. I'll also email you the networking card proof images.

      Reply
  14. EG. You are such an outstanding individual providing us with this knowledge base and tools. Thank you so much!

    As you remember, I have 2 niches. Military Career Transition and Business Coaching. How do you suggest I put both on there? 2 profiles or hyphenate it. Military Career Transition Coach – Business Coach?

    Reply
    1. That's a tough one, Eric. I'd probably have two business cards, as these are pretty much two non-related niches, and it might confuse some… or might seem to some that you are confused (don't know who you are serving 🙂 ) . My suggestion: have two business cards.

      BTW, Business Coaching is a hot niche. I used to be a Small-Business Development Coach for a while, and it was pretty profitable and pretty easy to get clients (brick-and-mortar type clients and local service providers, such as cleaning company, CPA, etc.). Because the economy is slow, businesses need all the help they can get to differentiate themselves from the competition, and they are willing to pay for results…

      Reply

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