Free Masterclass! 4 Simple Steps To Start Your Coaching Business Today
STEP #4:
Conversion
These are words coaches love to hear after a conversation with a potential client and it happens at that significant moment of conversion.
Conversion is the moment when a potential client becomes a paying client.
This is the part of your business plan where you need to think about how you're going to take clients from where they are now to where they want to be because here's the truth...
Your conversion rates will go way up when your clients clearly understand the coaching journey that's ahead of them and when they know how you plan to guide them to their goals and dreams.
So, how do you do that? What do you tell them? How can you design a coaching pathway or experience that will blow their minds, and establish your reputation as a rockstar coach once and for all?
Start with these 3 elements:
This is the DSP framework and it was designed and developed by co-founder of Evercoach, Ajit Nawalkha.
Thousands of successful coaches around the world have already used this framework to create powerful, effective coaching packages and experiences for their clients.
Here's an overview of the DSP framework...
In most cases, clients look for a coach when they have a problem, challenge or obstacle they want to overcome.
Depending on your niche, your clients could arrive at your door with a health or relationship issue, a work or business problem or a personal challenge.
For instance, let's say you're a business coach and your client's problem is they feel stuck and uncertain about how to grow their business. The outcome or solution they are looking for are strategies, ideas, and techniques that will help them scale their business.
So, when your client talks to you, you know the problem and you know the outcome they want.
Your next step is to identify their deeper desire - this is the desire that will motivate them to take action to get to that outcome. You can do this when you have meaningful, insightful, transformational conversations with them (refer to Step 3).
So, you have a conversation and you discover they want to start and build a business that gives them financial peace of mind and the freedom to live the life they want.
This is their deeper desire.
Your job is to create a coaching package that will give them the solution they're looking for and allow them to experience their desire.
In this example, you could decide to design a 3-month coaching package where you'll help your client build out a clear blueprint to grow a sustainable, 7-figure business while still having enough time to spend with family, friends and loved ones.
It could be that you decide to create a 6-month or 9-month package that takes them even deeper and allows you to guide them not just with business strategies but with the implementation piece so they don't fall off track from their deeper desire to grow their business and sustain their personal freedom at the same time.
If you'd like an in depth look at the DSP framework and how to implement it to create awesome coaching packages, check out The Ultimate Guide to Creating Coaching Packages.
Your business plan must include a conversion segment. Think about it this way... converting potential clients to real clients is the only way to create real transformations that will help you build your business and your reputation as an awesome coach.
Answer the following questions to gain deeper insight and clarity on the conversion segment of your business that you can then add to your business plan.
Question #1
Think of different ways coaches work with clients. This could be group coaching, weekend seminars, year-long masterminds and so on. Feel free to Google ideas and list out as many as you can.
Question #2
Now think about how you like work with clients? What's your coaching style? Do you prefer 1:1 work or group work? Do you like to get in there and get things done in a deep, intensive dive over a few days or do you prefer to work with clients over the long-term?
Note: When you've answered this question, check back on your list in Question 1 and circle specific methods that work best for you, based on your answers to this question. For instance, if your list in question #1 included "week-long group retreat", "6-month 1:1 packages" and "3-Day Virtual 1:1 Intensive" and you know you love doing deep, intensive 1:1 work, then you'd circle the 3-Day Virtual 1:1 Intensive but not the other 2 methods.
Question #3
What are some of the packages or coaching experiences you've seen from other coaches that you absolutely love? Do some research and look at how you can adapt some of the offerings to fit your own business and write down your ideas.
Note: These notes will help you come up with some great package ideas of your own
STEP #5:
Completion
You're rounding the final corner on your coaching business plan and here's where you're going to find crystal clarity and motivation to implement everything you've read so far.
This is the "Completion" segment of your plan where you're going to take charge and execute the awesome ideas that you've come up with so far.
This is a pretty simple step but simple is not the same as easy!
It's easy to read about creating a business plan and it might even be easy to write a business plan...
The hard part is to roll up your sleeves and do the work. The hard part is to take that plan out into the real world with real action and it's why a lot of coaches get stuck.
They don't move forward and they never get to see their dreams and intentions for their business come to life, but that's not going to be you and here's why...
In this final step, you're going to create a timeframe and tasks to work on so you'll know exactly what to do and when, in order to make your business plan a reality but first...
Go back to your Commitment in Step 1 and refresh your mind and heart around why you want to be a coach and why you want to build a successful coaching business.
When you're done, come back and dive into the Take Action Section below.
You want to attract and work with YOUR clients...
Clients who'll get the most benefit from you and your unique coaching style...
Clients who'll be happy to recommend you to more clients...
Clients who'll love you and everything you have to offer in your coaching business because you're not just looking for any yes...
You're looking for the right yes from the right clients.
Take a look at the chart below. You can go ahead and copy this out on a piece of paper or your notebook. You can also create this on a spreadsheet on your computer.
Now identify the week and month that you want to start. For instance, write Week 1, March under the Weeks column. Then look at the next column - connection. Write the names of the individuals or at least the number of potential clients you want to connect with in Week 1, March.
Then move to the Conversation column. Identify how many conversations you'd like to have each week. Finally, look at your Conversion column and insert the number of conversions you'd like to aim for.
CHAPTER 3
Build Your Thriving
Coaching Business
When a new coach comes to me and says,
"So, how can I build a successful coaching business, Ajit?"
The first thing I tell them to do is to read this guide...
The next thing I tell them?
Download my (free!) 12-Step Client Enrollment Script, so you can confidently enroll the right clients into your coaching business and start creating real-world results.
Discover The Ultimate 12-Step Client Enrollment Script
A powerful 14-day daily program, uniquely designed to help you successfully enroll new coaching clients into your business confidently, & impactfully.
