Oops! Sorry!!


This site doesn't support Internet Explorer. Please use a modern browser like Chrome, Firefox or Edge.

Book Excerpts From Rich Coach Broke Coach by Bart Smith

Get a sneak peek into Rich Coach ✦ Broke Coach by Bart Smith by reading a few of the hand-picked book excerpts below. If you like what you read here, then you'll definitely love the book or perhaps the audio version. That said, enjoy these excerpts!

EXCERPT #1

INTRODUCTION

A Message From The Author

I’ve been coaching and consulting clients globally on a wide range of topics ranging from Internet marketing to business, book publishing, audio/video recording, publicity, marketing, and eCommerce for more 20+ years.

EXCERPT #2

INTRODUCTION

Who Is This Book For? & How Can This Book Help You?

Rich Coach Broke Coach is perfect for anyone aspiring to become a coach, for current/seasoned coaches, as well teachers, trainers, authors, speakers, consultants, therapists, healers, counselors, psychologists, creatives, ...

EXCERPT #3

INTRODUCTION

Welcome To Coaching & What Is Coaching?

It’s not always easy to accomplish our goals without some type of assistance. Some people don’t even have a ...

EXCERPT #4

INTRODUCTION

First, Let’s Define The Word ... “Rich”

For starters, the term “rich” has many definitions. More specifically, this is how I would define ... “Rich Coach!”

EXCERPT #5

INTRODUCTION

Qualities Of A “Broke Coach”

Before we proceed on becoming a RICH COACH, let’s quickly define the term and qualities of a BROKE COACH ...

EXCERPT #6

INTRODUCTION

What Makes A “Rich Coach” ... Rich?

Now that we've defined “rich” and the qualities that make up a RICH COACH, what qualities make up a BROKE ...

EXCERPT #7

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

What Is The “Rich Coach” Secret Formula? Is There One?

Is there really a secret formula for becoming a Rich Coach? After reading this book, I think you might conclude ...

EXCERPT #8

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

Find Your Coaching Niche, Flip The Switch & Get Rich!

Clients typically hire a coach because they have a SPECIFIC problem that they need help with and they believe ...

EXCERPT #9

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

More Tips For Finding & Creating Your Own Coaching Niche

When it comes to coaching niches, here are some helpful ideas when finding or creating your own ...

EXCERPT #10

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

Roadblocks “Rich Coaches” Run Into On Their Way To Becoming “Rich!”

They say the road to riches is either paved with potholes, hard work, or homework. Well, in the case with coaches ...

EXCERPT #11

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

Coaching Certification: Should You Get Certified As A Coach? (Yes/No/Maybe?)

While getting a coaching certification can help you in many ways, it isn’t a requirement to become a coach, but ...

EXCERPT #12

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

Your Own Coach: Should You Get Your Own Coach? (Yes/No/Maybe?)

In order to better coach your own clients, YOU should also have your own coach. Nothing will impact your ...

EXCERPT #13

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

Know Where Your Money Comes From As A Rich Coach! Study The Rich Coach “Money Pie!”

How do you make money as a coach? Great question. Here’s the answer, in short, it comes from four main ...

EXCERPT #14

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Create & Name Your Coaching Services, Packages & Programs

If there’s any section within this book that you can get really excited about learning, it’s this section. Here’s ...

EXCERPT #15

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Package Naming & Creation Wisdom

Here are even more ideas to consider when creating and naming your coaching packages and programs! After ...

EXCERPT #16

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Determine Your Rich Coach Fees & Coaching Rates

After you decide which coaching package(s) you’ll offer your prospects and after you’ve named them, the next ...

EXCERPT #17

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Coaching Package “Pricing Wisdom”

Here are number of other ideas to take in and consider when determining your fees. After you read through ...

EXCERPT #18

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Help More People & Make More $$$ With “Group Coaching”

One-on-one coaching is rewarding, but it’s also exhausting, time consuming, and often leaves you scrambling to ...

EXCERPT #19

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Great Product Ideas For Both Broke & Rich Coaches

While coaching can be a great way to make a living with what you know, it does have its limitations. How so? ...

EXCERPT #20

CHAPTER 2 — FEES, INCOME & MAKING MONEY

More Money-Making Tips & Ideas For ALL Coaches

As if Rich Coach Broke Coach hasn’t given you a ton of money-making ideas so far, well, here are a few more ...

EXCERPT #21

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Avoid These Very REAL “Coaching Profit” Killers!

As you start and run your own coaching business, your bank account asks that you be aware of these hidden ...

EXCERPT #22

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Finding & Working With Clients

Clients are the lifeblood of any coaching business. Is finding clients really that hard? Why do so many ...

EXCERPT #23

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Client Welcome Packet/Letters, Coaching Agreement Forms, Worksheets, Logs & Templates

While it’s exciting to think about finding new clients, getting paid and working with them ... hold on there! A very ...

EXCERPT #24

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Create A Thorough & Very Useful Client Questionnaire or Self-Assessment Form

Additionally, you might create your own CLIENT QUESTIONNAIRE, either online or in print format, ...

EXCERPT #25

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Coaching Session Formats, Forms & Working With Clients

Now that you’ve been versed on forms, agreements and contracts, let’s talk about the format of a typical ...

EXCERPT #26

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Use Planning Forms For Every Coaching Session

When you ask your client, “What would you like to focus on for our call today?”, and they say, “I don’t know.” That’s ...

EXCERPT #27

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Know When & How To FIRE A Coaching Client

If you do an outstanding job on qualifying your clients, then you'll likely never have to FIRE a client. As a coach, ...

EXCERPT #28

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Finding & Attracting Your Ideal Coaching Client

In previous sections, you were introduced to using coaching contracts, agreements, worksheets and ...

EXCERPT #29

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Why Can’t You Help Everyone?

Can a plumber help someone locked out of their house, or is that the job of a locksmith? Should a golfing coach ...

EXCERPT #30

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Create Your Package(S): This Is What You’re Selling!

Now, you’ve already read about creating attractive packages in the previous CHAPTER 2. So, based on ...

EXCERPT #31

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Where Are Your Target Market Clients Congregating?

Now, you’ve already read about creating attractive packages in the previous chapter (#2). So, based on ...

EXCERPT #32

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

How Do You Find Your “Ideal Client?”

Who is your target market? Older, younger, men, female, working, retired, business owners, those looking for ...

EXCERPT #33

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

“Marketing” Doesn’t Help You Find Clients ... “Archaeology” Does!

As you know, coaching is an emotional occupation for the most part, as you’re coaching people on emotional ...

EXCERPT #34

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

What To Say When SOMEONE ASKS YOU, “What Do You Do?”

What you say to them is important, because you’re not there to tell them how great you are, or about your ...

EXCERPT #35

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Focus On Selling “Client Transformation” or “Bridging The Gap” More Than Anything Else!

In the sense that you’re promoting what you do, when it comes to pricing and selling your coaching products ...

EXCERPT #36

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

ENROLLING CLIENTS: Closing a new client is about enrolling them, not selling them.

Real quick, here’s a fast comparison lesson in selling pricey experiences! You know how famous rock stars, artists ...

EXCERPT #37

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

How Do You Get Your Ideal Client To Hire You For Coaching?

Create your own self-assessment form or questionnaire that includes several questions about their current ...

EXCERPT #38

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

What Should Your Coaching Format Be When Offering Free Coaching Sessions?

Many coaches who offer free sessions to get the ball rolling with clients, know free sessions can turn into paid ...

EXCERPT #39

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Overcoming Objections, Answering Questions, Follow-Up & Closing New Clients

Anytime someone’s at the crossroads of making a decision, there are several factors going through their mind. It’s ...

EXCERPT #40

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

“Top 10” Objections: What They Mean & Suggested Replies

While a client’s objection matters, what matters more is the emotion or reasoning that influenced their decision to ...

EXCERPT #41

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

More Tips On Handling Objections & Excuses

In many of these situations, if the client must go away for a period to think about it, check in with someone else ...

EXCERPT #42

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Marketing Tactics For Coaches

What’s the old saying about marketing that ensures a constant flow of coaching clients into your free/paid ...

EXCERPT #43

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

The “Marketing & Selling” Mindset For Coaches

When it comes to marketing, one of the most important marketing principles to live by is ...

EXCERPT #44

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

What SHOULD BE In Place ... “Before” You Start Marketing?

As the old saying goes, “Opportunity favors the prepared mind!” Well, where marketing is concerned, don’t let ...

EXCERPT #45

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Website Design Tactics

Something else to mention, before launching out with all these marketing tactics, is to check your website to be ...

EXCERPT #46

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Build A FEW Websites To Promote Your Coaching Business Services/Products

When it comes to marketing your coaching business and making money, you definitely could benefit from ...

EXCERPT #47

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Ask Campaign Marketing Tactics

What is an Ask Campaign? They’re a laser sharp marketing strategy used to find out what your clients really want ...

EXCERPT #48

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Celebrity Marketing Tactics

Start making it one of “your marketing goals” to get known, popular, talked about in circles of influence just like ...

EXCERPT #49

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Referral Marketing Tactics

Everyone wants them, but few are willing to ask for them, and most fear seeming pushy, desperate or too ...

EXCERPT #50

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

51 Marketing Tactics For Coaches

When marketing your website, both online and offline, and driving waves of traffic in your direction, here are 51 ...

EXCERPT #51

YOUR — "RICH COACH" GOALS

My “15 Rich Coach Goals” Checklist For You

By now, you’ve read this book from beginning to end. Did you read through Rich Coach Broke Coach page by ...

EXCERPT #52

YOUR — "RICH COACH" GOALS

In Checklist Format, Here Are Your “Rich Coach” Goals ...

Having learned what your suggested Rich Coach goals are, below you’ll find a easy format to help you assess your coaching business needs. This is a helpful way to build up your confidence, validation and credibility as a successful coach and business owner.

Book Excerpts From Rich Coach Broke Coach by Bart Smith

BOOK EXCERPT #1

INTRODUCTION

A Message From The Author

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

I’ve been coaching and consulting clients globally on a wide range of topics ranging from Internet marketing to business, book publishing, audio/video recording, publicity and eCommerce for more than two decades.

Whether I’m building huge websites for myself or others, giving them advice and guidance on writing books, designing books and book covers, setting up shopping carts and affiliate programs, creating products, building membership websites, recording studio-quality audio, filming video, providing marketing plans, writing business plans, training speakers, and giving interview advice ... the list goes on. With all that, there’s one thing I’ve observed in these 25+ years and that’s how personal and business coaches alike are in such need of this type of help, training, guidance, and coaching in more ways than ever.

Because training, teaching, and writing personal and business self-help books comes so natural to me, I thought it would be great to share what I’ve learned from my experience and research in a training book for coaches that encapsulates many of my skills and talents in the areas of marketing, business plans, consulting, coaching, interacting with clients, sales/selling, creating products, building websites, and all the rest so coaches could accelerate their own business growth and improve

their income earning potential as coaches. Coaches tell me, they love to coach, but when it comes to running the business, making sales and marketing, they just fall flat. Well, it’s time we end that trend.

Rich Coach Broke Coach (RCBC) was written with the intent of helping coaches where they need it most: in the areas of business, marketing, client interactions and making money. RCBC is my blueprint for all that and much, much more. 

If you are a coach, or aspire to be one, and you asked me how to start and run a successful coaching business, I would respond with exactly what I have laid out inside this book!

What you’ll find inside RCBC is only the most concise, nugget-rich content you’ve probably ever read on coaching and running a profitable coaching business. RCBC includes marketing and money-making ideas, coaching roadblocks, forms, session formats, enrollment strategies, overcoming objections, setting fees, creating coaching programs, and more. I hope you really enjoy RCBC. Contact me, if you’d like to share your feedback about this book.

To your success,

Bart Smith

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #2

INTRODUCTION

Who Is This Book For? & How Can This Book Help You?

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Who Is This Book For?

Rich Coach Broke Coach is perfect for anyone aspiring to become a coach, for current/seasoned coaches, as well teachers, trainers, authors, speakers, consultants, therapists, healers, counselors, psychologists, creatives, artists, and anyone else who wants to turn their passion and profession into a money-making coaching enterprise helping others succeed in life and/or in their business.

How Can This Book Help You?

Rich Coach Broke Coach was written with the specific intent to cover topics not covered in the vast majority of books written about coaching or starting your own coaching business. 

Most coaching books on the market today never go beyond “find your niche,” “know your purpose,” “be present,” “find your ideal client”, and my favorite, “get a website.” Really? That’s all they have to say? They write in terms of “do this”, but not “how to” do what they recommend. No wonder most coaches are broke. 

Where can they turn to for the “how-to” instruction they’re not getting? When they need real business, marketing and money-making advice, all they get are generalities and the same ol’ talk all the other books on coaching have to offer. 

Rich Coach Broke Coach provides you with invaluable and useful information as it relates to getting started as a coach, roadblocks for becoming a coach, what you need to launch a successful coaching business, what goals should you set for yourself as a coach, essential tips on running the business, getting certified (yes/no/maybe?), how to write a successful business plan to ensure your coaching business is successful, setting fees, creating and naming coaching packages, charging clients and collecting payments, finding clients and closing them, working with clients, recommended coaching tools and online resources, how to make even more money as a coach, shrewd marketing tactics for coaches, and so much more!

Anyone applying the suggestions, ideas, tactics and techniques found inside Rich Coach Broke Coach is absolutely in store for a major improvement in running a more efficient and profitable coaching business. 

Rich Coach Broke Coach is packed with all the above, and so much more! Holding this book in your hands, and acting on what you’re about to read is your hedge against going broke as a coach.

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #3

INTRODUCTION

Welcome To Coaching & What Is Coaching?

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

It’s not always easy to accomplish our goals without some type of assistance. Some people don’t even have a realistic objective in mind when they describe the uninspired feelings that tend to hold them back. 

Having made several attempts to overcome setbacks, they sense that with some guided direction and know-how, they just might achieve great things. How does a coach fit into this scenario?

What Is Coaching?

Here is the skinny on coaching and how it works. Coaching is ...

“... a process that enables learning and development to occur and thus performance to improve. To be a successful Coach requires knowledge and understanding of a certain process as well as the variety of styles, skills and techniques that are appropriate to the context in which the coaching takes place.”

There are several disciplines of coaches. These examples are the more common ones: 

#1) Life Coaches can be helpful when a person is going through a transition, hard times or stuck in a rut for a variety of reasons such as a career change, separation from a loved one, making life style changes and/or good choices. 

#2) Personal Coaches (not unlike life coaches) work in tandem with the person that cannot visualize his/her own potential. The personal coach is dedicated to encouraging the individual to aim high by focusing on empowerment and self-motivation.

#3) Success Coaches look closely at one’s talent, energy and ability to achieve satisfaction and happiness by helping others to identify the successes he/she has attained and then uses those life experiences to overcome adversity and/or failure.

#4) Professional/Business/Corporate Coaching provides experienced feedback and direction for niche industries to give the individual a leg up on performance and execution of specific occupational goals.

Today, even more people are turning to coaches for inspiration, goal-setting, advice, exclusive directions, and results. They help people with clarity regarding their ambitions without having to relive the past (unlike therapy). They capitalize on the individual’s innate abilities and then introduce new concepts and strategies that complement what’s working to set short-term goals. Good coaches will assist people with their journeys drawing on strengths and values to ensure they get the most out of their lives.

“Greatness, whether athletic or otherwise, doesn’t come from those content on just being, but from those who seek being the difference.” — Kirk Mango

Imagine turning dreams and ambitions into reality with a little help from a coach (such as you)! It certainly isn’t an unrealistic aspiration. Do you find that your family and friends often turn to you for advice when the chips are down or in need of a second opinion on a big decision they are about to make? 

Do you find that you have become the go-to-person for personal, business, spiritual and mental health issues? Then you should consider honing your natural talents for listening, trouble-shooting, counseling and inspiration to turn your expertise into a coaching business where others (beyond the family and friends) could benefit from your insight, objectivity and willingness to help them become better experts on themselves. 

While coaching and therapy share some common traits, clearly they are different in scope, critical goal-setting and case management. 

What’s the difference between coaching and therapy? 

Life coaching, for example, is for people who are already functional and seek help for personal growth issues. A coach will design specific goals geared toward achieving positive outcomes and critically monitoring the process. 

For a more clinical definition, “… therapy is about uncovering and recovering, while coaching is about discovering …” according to Patrick Williams, Ed.D., MCC, who wrote “Coaching vs. Psychotherapy”. 

When people are struggling with anxiety, depression, self-doubt, negativity, trauma, intense emotional distress or addictive behavior, they should obtain the services of a professional certified/licensed mental health facilitator. 

Why do people hire coaches? 

With the help of a coach, clients are more inclined to set realistic, applicable goals and make the effort to achieve them and then, when they encounter any obstacles in their paths, a coach can advise with strategic steps to overcome them. A good coach offers synergy, inspiration and support. 

What are the basics for coaching? 

The foundation for coaching is to help capable people become more productive, efficient and creative when reaching for goals while learning practical tools for working through the traps that commonly cloud their vision and success.

What is a typical coaching session like? 

Many coaching sessions are conducted by phone for the convenience of both parties. Others might meet one-on-one in an office setting or other venue that ensures privacy and a level of comfort. 

What does it take to be a coach? 

A coach should be able to speak from practical experience and accreditation. While there are several outstanding online and offline coaching programs that offer certification, a successful coach should also be an excellent communicator, demonstrate inherent perception in order to offer a footprint that others can follow to realize their personal/professional goals. 

A coach should be able to speak from practical experience and accreditation. While there are several outstanding online and offline coaching programs that offer certification, a successful coach should also be an excellent communicator, demonstrate inherent perception in order to offer a footprint that others can follow to realize their personal/professional goals. 

How do you start your own coaching business? 

It takes time to develop a clientele so use the time wisely by creating the right situation for your services. Work out all the administrative details before you make your first appointment. These items should include business cards, a website, and a network of solid resources at a minimum. Should you take any courses? YES. There are many tools that you can learn via training/education that will enhance your coaching skills. Coaching credentials can give you formal recognition and demonstrate your commitment and dedication to your passion. 

What kind of income can a coach expect to earn?

Most life coaches working with individuals charge anywhere between $150 and $1,000 per month for two 45-minute phone calls (or sessions) that might also include eMail support. Executive coaches charge more and typically work with their clients for a few hours per month. They might charge anywhere between $75 to $350 per hour. 

Corporate coaching is even more costly at $250 to $500 per hour for individuals and groups, which could generate a potential income of $2,500 to $10,000 per month or greater. Corporate coaching often includes on-site programs and online computerized assessments.

What are the search results for coaching? 

There are more than 1,000,000,000+ searches for the following coaching terms and titles: 

✦ life coach
✦ health coach
✦ personal coach
✦ fitness coach
✦ success coach
✦ business coach
✦ corporate coach
✦ executive coach

A fair percent of coaching falls into the realm of executive coaching. Why is this important? Executive coaching is very lucrative, however, not everyone has direct corporate/executive experience. It can also take years to acquire experience needed from the corporate world that could benefit a like-minded client. 

The need for life and personal coaches has expanded significantly in the past ten years. One reason people look for help is to get some perspective on where they are and where they’re going in life. Some can become bogged down and feel helpless to free themselves of the stress and quicksand that is suffocating them. 

Life/personal coaches focus on enhancing, integrating, and balancing. With a simple phone call or by making an Internet connection, a person can easily sign up with a promising coach who ultimately becomes a partner in defining a better future. 

Many personal and professional coaches work either from a home office or by telephone and eMail. The average age of coaches ranges between 25 and 55, although age and gender are not exclusive. 

Practical, skill-related coaching is nothing new. From the earliest days, cave dwellers used drawings to communicate the most useful way to perform a task thereby empowering others with visual direction to improve their performance whether it was on the battlefield or in their personal lives. What hasn’t changed about coaching is the perpetual desire that many people have to feel empowered whereby they can develop confidence and strength to set reachable goals and fulfill their potential. Coaching becomes the helping hand with supportive techniques that people often need. While many people have ambition and capabilities, they lack direction and the how-to that coaching can offer. 

Consequently, coaching has become one of the fastest growing industries in the world! The three countries at the leader board with the United States are England, Japan, and Australia. The profession has grown enormously over the past ten years into a multi-billion dollar industry. 

What should really matter to a good coach is whether he/she has the ability and desire to help others realize personal empowerment. This requires reflection on personal values, skills and goals while preparing them to possibly adapt to certain behavioral changes in order to achieve targeted objectives. 

According to David Lassiter who wrote The Business Case for Coaching, “Coaching creates awareness, purpose, competence and well being among participants. Coaching is NOT another feel-good exercise based in soft skills that have no correlation to the bottom line.” 

Why is there a growing demand for life coaches? The demand is due in part to the complexity of modern daily life. Things aren’t as simple as they were in the past so many people seek personal coaches to learn how to put everything in balance enabling them to achieve a higher level of success. If a person isn’t doing what he/she loves to do, even if the person is successful, the individual might benefit from some coaching. Having a life coach, for example, is like having a trainer that is invested and genuinely interested in one’s success. 

Your success as a coach will depend on what you know, what the client needs such as personal growth or business development and/or financial gain. What you charge for your service should be realistic yet competitive with the industry. 

Whether you’re just starting out as a new coach, currently running a successful coaching practice or aspiring to enhance your business, running any business takes planning, research, expertise, a certain degree of business savvy and creative marketing approaches to make your coaching business prosper. 

With Rich Coach Broke Coach, you will learn valuable tips for coaching, key business strategies and marketing tactics to ensure that you can achieve financial independence in your coaching business and greater success. So, let’s get started!

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #4

INTRODUCTION

First, Let’s Define The Word ... “Rich”

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

For starters, the term “rich” has many definitions. More specifically, this is how I would define ... “Rich Coach!”

✦ Abounding in valuable and highly useful resources ...

✦ Possessing an abundance in coaching skills and knowledge

✦ Able to offer great value or worth to a coaching client …

✦ Brimming in desirable personal characteristics or qualities

✦ Expressing deep, strong and vivid support and guidance

✦ Sounding confident, self-assured, full and mellow in tone

✦ Producing and/or yielding abundance in client results …

✦ Able to provide abundant information for their clients …

THAT'S what defines a RICH COACH! What do you think?

Once you develop the above “rich” qualities you increase your chances of becoming “rich” (as a coach) and “affluent” in every sense of the word (generous amount of monthly income with a high standard of living and perhaps even social prestige, etc.)

Qualities Of A “Rich Coach” 

Having defined the word “rich,” allow me to share with you my definition of what makes a rich coach! With rich coach characteristics, one can’t truly become “rich” or “affluent” without following some of the protocol recommended here. A rich coach must have a visual strategy and provide a structure that continually enhances your abilities to respond effectively to various situations so your business becomes a rich success! 

Profitable Niche & Original Content

This is a BIG ONE! A “rich coach” is someone who does not rely on other people’s content (or success) to make their own. Rather, rich coaches have taken adequate time to develop their own “original content,” within a profitable niche, to help their clients get the specific results they aspire to. 

This (original) content, developed within a profitable niche, is translated, not only into “coaching services,” but often in print via books, eBooks, workbooks, audio recorded products, seminars, workshops, webinars, tele-seminars, home study courses, classes, and more. Content is KING! So, the more (original) content you can create, the more successful you’ll be at becoming a “rich coach!”

Solid Coaching Skills

A rich coach is armed with the essential coaching skills and tools to keep their clients on track and reaching their targeted goals. You’ll learn many of these essential coaching skills inside this book.

Extremely Resourceful 

A rich coach is continually learning and building his/her knowledge base of resources. Rich coaches know that in order to increase the probability of their clients achieving the results they seek, a rich coach must have the information and the resources (in addition to content and skills) to help their clients reach attainable goals. 

Highly Efficient

A rich coach is also extremely efficient in his/her own business and can serve as a model for clients. For example, a rich coach does not waste time giving away free sessions, nor do they focus just building a one-on-one coaching practice. Oh, no! Rich coaches have a bigger and broader range of view ... 

Visionary 

A rich coach is also a visionary, living a life the way he/she sees fit, creating a precise business model that best serves the clients and a business that yields the kind of financial return associated with those coaches that have built coaching empires by offering practical and profitable products and services and not just the typical one-on-one coaching business so many “broke coaches” fall victim to.

Mission Driven

What’s more, a rich coach is mission-driven to help others, make a difference in the world they live in and perhaps leave a mark on society and all they come in contact with. Finding, securing and developing die-hard passion for what you do, makes a possibility of becoming a rich coach extremely achievable.

Master Of Marketing 

A rich coach knows how to market coaching services and to find committed coaching clients without the laborious and tedious process of giving away billable hours via free sessions. Moreover, marketing is the name of the game when it comes to making or breaking your coaching business. Rich coaches are masters at marketing and self-promotion.

Internet Savvy

Rich coaches are Internet savvy! They have a customized website and eMail address where clients and potential clients can learn more about their products/services. They also know how powerful audio and video can be for promoting their coaching services and selling books and tickets online for seminars and workshops. 

Rich coaches also have a shopping cart (to sell products online from their website) and they utilize online marketing tools like autoresponders, opt-in boxes, ad-trackers and may even boast an affiliate program on their site so they can benefit from the sales and promotional efforts of others that are spreading the word about their coaching products/services worldwide. Rich coaches also have their own eZine (or online newsletter) to stay in contact with their client base plus prospective client. 

Author 

A rich coach is usually an author of at least one book or ready to publish book! Why? Rich coaches know that writing books can bring about high levels of instant credibility, exposure to their expertise and above all, passive income not to mention radio stations and TV show hosts that feed on authors. 

Authors are regarded as today’s leading experts. Coaches who write books are seen as instantaneous experts worthy of high levels of recognition and exposure that could generate any number of potential new clients! [Rich Coach Tip: BECOME AN AUTHOR! NO EXCUSES!]Product Creator 

A rich coach doesn’t rely on coaching clients, especially one-on-one, alone to generate their income. The rich coach sets time aside to create a variety of products (both physical and digital) in the form of books, eBooks, audio products and home study courses, because they know selling products is one sure-fire way a rich coach actually gets rich ... from coaching!

Speaker / Speaking 

A rich coach is also a speaker, because he/she knows that public speaking can expose coaching services to large groups of people at one time. A coach can usually count on 2–25 people following a presentation to approach you with questions such as, “Do you coach privately? What are your fees?” 

Rich coaches also know that speaking generates product sales, and registration sales to seminars, classes and/or workshops that they might be promoting. In addition, speaking begets more speaking opportunities. Speaking is worth the time and energy and rich coaches know it! 

Seminars/Classes/Workshops 

A rich coach doesn’t rely on one-on-one coaching or even selling products to build income. Rich coaches know that to increase their hourly rate (or coaching package fee) they must offer their services to GROUPS of people. This can be done visually via seminars, by telephone via tele-seminars, over the Internet via webinars or through eMail in the form of eClasses. 

Either way, teaching and coaching large groups of people can be convenient whatever the venue and financially lucrative. Coaching many people at one time can generate a worthwhile income. And, that’s what rich coaches do.

Networking Skills

A rich coach also knows how to network with others to find new coaching clients, sell products and develop affiliates and use joint venture (JV) relationships to make even more money from the business! 

Steady Flow Of Clients 

A rich coach has a non-stop flow of clients through current/past client referrals, networking, speaking engagements, book sales that have potential for making great clients and leads. Without a steady stream of clients, you won’t get rich as a coach!

Investments 

With all the money rich coaches can make by selling their time, selling products and group coaching (i.e., seminars, workshops and classes), they can invest their money in other opportunities to make even more money and build a secure future! 

Investment opportunities might include stocks, bonds, mutual funds, commodities, futures, day trading, other business, JV opportunities ... you name it. Once you’ve worked hard for the money, let that money work hard for you. That’s also what rich coaches do! 

Celebrity-Like Status 

A rich coach with marketing mastery, Internet know-how, speaker and author status, successful products and sales and superior networking skills will take all that he/she has learned and will often cultivate what we like to call a “celebrity-like” status among peers, colleagues, clients, prospects and others in their niche in their communities. 

Highly successful coaches invariably may think of themselves as quasi-celebrities wherever they go. In this way, they can see themselves operating on a different playing field in the same way BROKE COACHES perceive themselves, which can potentially be a very bad thing when abused.

Answer this question. Who gets paid more to do a given job? Answer: (1) A regular coach or (2) a celebrity-like/minded coach. You guessed it! The celebrity-like/minded coach! When we refer to the term “celebrity” in this instance, we’re talking about someone who isn’t arrogant or self-centered; rather someone who is simply well-known, well-respected and who has a high-profile status visible by congregations of people. That’s the precise kind of celebrity I have in mind for you when I address celebrity status.

Balance

A rich coach has a life and is not working 9:00-5:00. He/she doesn’t work 60 hours per week or weekends. Most coaches work when they choose to, can support their responsibilities and lifestyle, and always find time for family, friends and takes care of oneself. That’s balance and that’s how rich coaches live ... inspired and energized every day!

Lifestyle

Rich coaches strive to live life to the fullest with mindfulness and compassion. Where they live, how they live and with whom they live with represents their lifestyle. Ideal coaches will practice what they preach and will challenge themselves to step out of their comfort zone.

Coaches typically have high personal standards, ambition and are relentless about working on themselves. These are just a few more of the essential qualities that will make a good coach become a prosperous one. Look for more details.

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #5

INTRODUCTION

Qualities Of A “Broke Coach”

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Before we proceed on becoming a RICH COACH, let’s quickly define the term and qualities of a BROKE COACH ...

Don’t worry if you find yourself relating to any of the broke coach qualities, because they’re most likely temporary and can be overcome quickly with the right training, coaching resources and insightful guidance found inside Rich Coach Broke Coach.

Some qualities of a BROKE COACH are:

Limited/no valuable resources … makes for a broke coach!

Limited/no coaching skills … makes for a broke coach!

Limited/no experience in a niche … makes for a broke coach!

Further, broke coaches usually don’t have original content, products to sell, a non-stop flow of referrals, a marketing plan, a website, an affiliate program, networking skills, balance or a life!

Broke coaches will often give away valuable/billable time (to free advice seekers), spinning their wheels working a vicious cycle by coaching one-one-one, and struggle to find leads because they don’t know how to network or market their coaching business, they may make a decent living as a coach but imagine the possibilities if they had products to sell? There are strategies, tactics and tools that a coach can learn to grow their businesses and become a ... “Rich Coach!”

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #6

INTRODUCTION

What Makes A “Rich Coach” ... Rich?

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Now that we have defined “rich” and the qualities that make up a RICH COACH, what qualities make up a BROKE COACH? Let’s see how they compare and what we can learn from the differences. While some will have their own definitions for RICH COACH, here’s my proposed list of things that will make a coach even richer! 

✦ Products (created in several formats) help generate extra passive and/or residual income for coaches. One cannot become definably “rich” by coaching solely one-on-one.

✦ Seminars/Classes/Workshops designed to coach “groups” of clients in one or more consecutive coaching sessions are money-makers. Coaching clients in “groups” (via seminars/classes/workshops) increases a coach’s income and makes better use of his/her time opposed to working one-on-one with clients by appointment only.

✦ Steady flows of (high-paying) clients enable coaches to spend quality time coaching fewer clients for more money!

✦ Passive and/or residual income equal to (or greater than) $1,000 per month, in addition to their regular coaching income is essential. This type of “hands-free” income generated on a regular basis and little effort from the sale of products and/or recommended services.

✦ Control over your own life/work schedule! Your ultimate goal should be more time for fun, family, friends and whatever makes you happy!

In Rich Coach Broke Coach, you will learn all the skills, tools, coaching techniques, marketing strategies and product-creation tactics you need to learn so you can avoid becoming a BROKE COACH and instead, make your way fast to becoming a very successful RICH COACH! How long will it take you to become a RICH COACH? Let me put it this way ...

How BADLY do you want it? Well, let’s get started! You’ve got “coaching riches” to go after and I can help you.

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #7

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

What Is The “Rich Coach” Secret Formula? Is There One?

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Is there really a secret formula for becoming a Rich Coach? After reading this book, I think you might conclude that there really is. So, in a nutshell, what would it look like? Perhaps, a little something like this:

+ Niche Coaching Client / Market Chosen

+ Additional Training / Coaching Certification*

+ Coaching Business Plan

+ Avoid Roadblocks / Minimize Mistakes

+ Coaching Fees Set / Packages Created

+ Coaching Forms / Agreements Created

+ Coaching Session Structure(s) In Place

+ Other Streams Of “Coaching Income” In Place

+ Marketing Plan For High-End Exposure Ready

+ Increased Credibility At Every Chance

+ CRM / Lead Gathering Systems In Place

+ Lead Qualification Procedures In Place

+ THE DRIVE & HUNGER TO BE A RICH COACH

= COACHING SERVICES / PRODUCT SALES!

That’s the simple formula for becoming a Rich Coach. Each one of these components is discussed inside Rich Coach Broke Coach at great length. All you have to do is make sure your coaching niche is a profitable one, put together your coaching business plan, work on any other aspects of the Rich Coach formula, make the effort and go after your target market with your passion and unique skills for helping others!

*OPTIONAL, BUT HIGHLY RECOMMENDED

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #8

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

Find Your Coaching Niche, Flip The Switch & Get Rich!

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Clients typically hire a coach because they have a SPECIFIC problem that they need help with and they believe YOU can help them. These types of problems can range from being overweight and unhealthy, to starting or running a business, or even overcoming a fear of scuba diving and everything in between. These “problems” are what define the specific corner on the coaching industry. By the end of this chapter, I will provide you with a detailed list of the most common coaching niches.

When you first start your own coaching business, don’t fall into the “trap” of wanting to help everyone. It’s not healthy or realistic as a coach to believe that you can coach all ages, male and female, and every background you can imagine or coach people on everything from weight loss to dating after a divorce, to starting a business or trading in the futures market, while helping clients learn how to overcome their phobias. 

It is much easier to market and enroll new clients into your coaching business when you specialize in a specific area of interest and/or field of expertise. When you know your niche, your coaching results will be more productive and you will generate more satisfied clients, which most often results in more business and that translates to more money and income to you ... as a “Rich Coach!”

Think of it this way. If you generalize your coaching skills and you do not specify your expertise, then potential clients will have a difficult time deciding if YOU are THE ONE for them; the one that can help them find a solution to their specific problem. 

For example, if you call yourself a Life Coach, what does that mean and what topics (in life) are you an expert in? Business? Relationships? Investments? Corporate? Training? Health? Weight-Loss? Sales? Marketing? Technology? Entertainment? Publicity? eCommerce? You need to be specific. 

Only when you drill down to your specific niche (the topic where you truly have some expertise) will you discover that finding new clients is a breeze! Imagine if you merely stated that you are a Life Coach. Can you imagine how people would respond to that? They’d be confused. Whereas, by identifying your specialty, people might be inclined to say, “Wow, I know five people who could use your services!” 

If you aren’t convinced by what I’m suggesting, then look at the benefits below for reasons to establish your specific niche: 

✦ Eliminate the discomfort of trying to explain coaching. Speak directly to your target market about their wants, needs and challenges. They are already interested in you because your services are geared to them.

✦ Build visibility and credibility faster through referrals. Think about it. When you are successfully helping a client with a specific problem, chances are, the person knows other people with similar problems and will confidently refer your coaching services to others.

✦ When you have a niche, it is much easier to make every “marketing minute” count by funneling prospective clients into a series of leveraged marketing efforts. For example, a targeted website that offers a subscription to a biweekly eZine, that also advertises a free product/eReport/eCourse, which in turn gives prospective clients some of your information, will ultimately lead them to paid products and group coaching programs ... if they like what they see and want more (of you). All of this is directed to your niche target market and works in concert with your services.

Suppose, you are a health and weight loss coach and you meet a prospective client at a networking event. You might say, “You know, I have an eZine (learn more about eZines later in the book) that I send out twice a month with advice on how to get healthy and stay in shape. Would you be interested in receiving those eMails?” Then, direct the person to a website that advertises this eZine and encourages them to join such as MyHealthTipsEzine.com. Better yet, if the person responds positively, ask for the eMail address and reassure him/her that you will add the person to your list for future mailings.

The biweekly eZine keeps you in their inbox and the valuable information you provide builds credibility. From the first mailing, you can offer your coaching services as well as eBooks/books, audio programs and teleseminars, group coaching, one-on one-coaching, and even live seminars. Since you captured the eMail address, the person stays in your database and can continue to buy from you until the person opts to unsubscribe. (Make sure to follow the “money funnel” that is coming up in the book. Now isn’t that more worthwhile than just offering a business card? 

✦ Command higher fees. People value what you have to offer if you charge them more, and niche coaches costs more than generalized life coaches. You have training, skills and expertise to offer your clients. Set your fees accordingly. Be competitive, but don’t hesitate to ask what you’re worth. You’ve earned it! 

✦ Develop expertise more quickly. Recognized, you make yourself available to speak publicly, participate on panels and write articles. They speak (advertise) for you. 

✦ Build a sustained pipeline of prospective clients that are all interested in the same thing. 

✦ By being specific, you drastically reduce wasted time since you are marketing to a prime audience. 

✦ Distinguish yourself from thousands of other coaches who rarely target market and will make less than $10,000 per year. 

Here is how you can easily find your niche and flip the switch to earn a great living as a “Rich Coach!”

YOUR HOMEWORK

Answer the following questions, in as much detail as possible, to determine what your niche is and then flip the switch to earning your worth as a coach helping others in your fields of expertise! 

☐ What skills and special knowledge do you possess that you can offer others to help them achieve their goals, either personally or professionally?

☐ What group of people do you know you can help who can also afford your fee? Where do they hang out? What magazines do they read? What associations/organizations do they belong to? What products do they buy?

☐ What unique experiences have you encountered in the form of coaching others that you can share? 

☐ What do your current clients, friends, family members, associates, and co-workers perceive that you’re very good at? The answer could be computers, organizations, inspiration, motivation, financial insight, business planning, communication and/or relationship advice. Make a list. Write it down!

The following is an extensive list of 180+ coaching niches that you might choose from. Coaches specialize in almost every kind of client and almost every kind of situation, goal, or challenge.

1. Academic Coach

2. Accountability Coach

3. Achievement Coach

4. Actor’s Coach

5. Adoption Coach

6. Animal Lover/Show Coach

7. Anti-Aging Coach

8. Anxiety Coach

9. Asset Management Coach

10. Athletic/Sport Coach

11. Audio Recording Coach

12. Authority-Building Coach

13. Baby Coach

14. Balance Coach

15. Billionaire Coach

16. Body Building Coach

17. Body Image Coach

18. Book/Author/Writing Coach

19. Boys/Girls Mentoring Coach

20. Bucket Coach

21. Business Coach

22. Cancer Coach

23. Career Coach  

24. Christian Living Coach

25. Coaches’ Coach

26. College Entrance Coach

27. Communications Coach

28. Computer Coach

29. Comic Coach

30. Confidence/Self-Esteem Coach

31. Conflict Resolution Coach

32. Cooking/Chef/Culinary Coach

33. Corporate Culture Coach

34. Credibility Coach

35. Crisis Management Coach

36. Dating/Singles Coach
37. Debt Coach

38. Destiny Coach

39. Divorce Coach

40. Dream Coach

41. Employee Relations Coach

42. Empowerment Coach

43. End-Of-Life/Near Death Coach

44. Entrepreneurship Coach

45. Entertainment Industry Coach

46. Estate/Will/Trust Coach

47. Etiquette/Manners Coach

48. Executive Coach

49. Expert-Building Coach

50. Family Coach

51. Fashion/Style Coach

52. Financial Coach

53. Financial Aid Coach

54. Fitness Coach

55. Food Industry Coach

56. Franchise Coach

57. Friendship Coach

58. Fung Shei Coach

59. Funding Coach

60. Fundraising Coach

61. Getaway Coach

62. Grant Coach

63. Graphic Design Coach

64. Green Living Coach

65. Gun/Rifle Coach

66. Habit-Buster Coach

67. Happy Coach

68. Health Coach

69. Heart’s Desire Coach

70. Hobby Coach

71. Holistic/Alternative Health Coach72. Home Buying/Selling Coach

73. Home Renovations Coach

74. Home Schooling Coach

75. Home-Security Coach

76. Hospitality/Entertainment Coach

77. Hypnosis Coach

78. Interior Design Coach

79. Interview Coach

80. Investment Coach

81. Lawyer/Attorney Coach

82. Leadership Coach

83. Legal (Topic) Coach

84. Life Balance Coach

85. Life Change Coach

86. Life Coach (Too general; avoid!)

87. Life Goals Coach

88. Life Strategies Coach

89. Lifestyle Coach

90. Loan Coach

91. Marketing Coach

92. Marriage/Couples Coach

93. Media/Press Coach

94. Medical Industry Coach

95. Meditation Coach

96. Mentor Coach

97. Mid-Life Crisis Coach

98. Millionaire Coach

99. Military Career/Retired Coach

100. Mind/Body/Fitness Coach
101. → → → → → → 181.

(There are 81 more coaching niches listed in the book. Want to know what they are?)

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #9

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

More Tips For Finding & Creating Your Own Coaching Niche

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

When it comes to coaching niches, here are some helpful ideas when finding or creating your own: 

✦ Create a fun coaching title for yourself, such as, “Get Out Of Debt” Coach, “Broke No More” Coach, “Crazy” Coach, “Rock Star” Coach, “Stage” Coach, “Raw Foods” Coach, “Get ‘er Done” Coach, etc. 

✦ What are you passionate about? What areas do you excel in? What do others tell you that you’re great at? Therein lies your niche. 

✦ Each coach has a set of INDIVIDUAL GIFTS to bring to the table. What are your gifts? 

✦ No niche, wasted marketing, fewer clients, less income. That’s no way to run a Rich Coach business. 

✦ Determining your niche and making money as a coach is the same as bringing any service to the marketplace. There must be a buyer for your product. You might believe that your product (i.e., coaching) is the best out there, but the reality is that people aren’t beating a path to your door or web site. So, choose your niche wisely. Put your dreams and desires aside for what you “choose” to coach and do some research on your desired niche. Most people are willing to pay for practical advice from an understanding, competent coach. Investing in your clients can lead to more prospects and potentially more income. 

✦ The best niches for getting paid are often linked to those clients whose pain, problems, and passions you can identify with. 

✦ Clients want to believe you’re coaching them in a specialized niche and not everyone across an ocean of niches. Think of yourself like a restaurant. Are you going to serve Italian food AND sushi in the same establishment? I would hope not. Pick one niche and go with it. If you’re worried you’ll lose out on potential business by not serving everyone, think again. Position yourself with a strong market presence, so you can attract the right kind of clients. 

✦ What expertise is the market craving? That’s where you want to be. Your clients want to see evidence that you can help them in achieving the results they want. What evidence do you have? 

✦ From a marketing standpoint, good things can happen when you focus rather than expand your services. Specialty niches fit like a glove. You want to get grounded in reality and understand how to target your audience to generate a steady flow of clients. 

✦ Look inward, at yourself, because you are coaching others who most likely have something in common with you. 

✦ Self-assess your strengths, desires, motivations, skill-set, education, experience and training to ensure you are on the right track. 

✦ Unlike other professions, where it might be profitable to be a generalist, marketing yourself as a coach can be more successful when you specialize. Believe it or not, specializing is your ticket to finding clients in an information overload society. By specializing, potential clients can find you quickly. As a specialist you hold the (potential) answer(s) to their problems. 

✦ Where can you find 100 or more ideal clients? When you decide who you are going to help and what you will help them with, you will be seen as an expert far more quickly. 

✦ If you don’t see your niche above, then develop a new niche. Get creative. 

 When you pick your niche, create one short sentence that describes your niche such as the following: “I’m a START-UP ‘FUND-ME’ COACH that helps business owners find cash to fund their new business.” 

Bounce your new niche, phrase or title, off of friends and colleagues. What do they think? Do they light up, and say, “Wow, that sounds great. I’d hire you.” or “Boring! Try again.”

(THIS CONTINUES IN THE BOOK)

EXAMPLES OF NICHES
“WITHIN” NICHES

☑ Business Coaching: Sales, team-building, leadership, management, corporate, executive, vision, etc.

☑ Career/Job Coaching: Career change, freelance, cover letter and resume writing, interview skills, etc.

☑ Creativity Coaching: Music, writing, drawing, dancing, etc.

☑ Family Coaching: Children, teenagers, step-, in-law-, babies, parents, etc.

☑ Financial Coaching: Debt, credit, retirement, budgeting, investing, mortgage, taxes, wealth building, etc.

☑ Fitness Coaching: Aerobics, cardio, martial arts, strength building, muscle building, pilates, yoga, weight lifting, etc.

☑ Health & Wellness Coaching: Nutrition, stop smoking, vitamins and supplements, weight management, etc.

☑ Life Coaching: Change, goal-setting, overcoming fear and obstacles, happiness, getting organized, stress management, time management, etc.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #10

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

Roadblocks “Rich Coaches” Run Into On Their Way To Becoming “Rich!”

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

They say the road to riches is either paved with potholes, hard work, or homework. Well, in the case with coaches, the road to riches might be paved with all that, plus a few more barriers if they expect to make any money in the coaching business. 

For most coaches, the road to riches is paved with self-confidence, innovative ways to create and sell their coaching packages, patience, finding paying clients, facing more noes than yeses, marketing mistakes, more training, getting certified, great/all right/favorite/not-so-favorite clients, and much more! If you can think of other obstacles, hurdles or barriers you’ve experienced as a coach, then you help me to make my point of this section.

Starting out as a coach, or starting out on the road to riches a current coach that is closer to going broke than making bank, every coach should be aware of the many road blocks that stand in their way of attaining their desired financial goals. There’s much more involved than simply launching into the market and calling yourself a coach with passion in hand.

COMMON ROADBLOCKS
"ALL COACHES" FACE
WHILE "GETTING RICH!"

☑ Competition ... While there are more and more coaches out there (and possibly in your niche) when looking for clients keep in mind, YOU, are an original and somewhere out there exists the perfect group of clients for you. Using that perspective, promote yourself to potential clients as if there is no competition. 

☑ Confidence ... Many coaches lack the confidence needed in different areas of their coaching business. This can relate to areas like charging clients what your time is worth, talking to clients about what they’re being coached on, and other factors. The best thing any coach can do to boost his/her confidence in any particular area is to narrow the scope by what it is that you feel most confident about. Then, study up, research why you cannot stand firmly on what it is you feel so uncomfortable about. For example, by reading Rich Coach Broke Coach from cover to cover, you just might discover sections and topics that you aren’t confident in (such as marketing or setting your fees). With the help of this book, you might overcome that issue. The result? You can now talk openly and confidently about what it is you weren’t so confident of previously. When you lack confidence, what you often lack is EDUCATION, EXPERIENCE and/or FAITH in what you need to do. If faith won’t get you there (i.e., “I believe in myself, but I just can see myself charging $125 per hour...”), then you need to educate yourself on what the competition is charging, what your bills run every month, or maybe you need experience (or training) that certification can offer or additional coursework. The result of pursuing these ideas could increase your knowledge and competence that ultimately will improve your confidence in yourself. By doing this, you’ll know how to set your fees because they’ll be competitive and worthy of your expertise as a coach. 

☑ Copy-Cat Syndrome. Don’t do what every other coach is doing. Do your own thing, your own way. Be different, stand out, be seen, be heard, and be hired! If you look and sound like other coaches, you’ll get lost in that crowd and potentially you could lose clients. The difference now is, you’re going to become a unique coach. Believe it, study up, train, plan, and you’ll be living it! 

☑ Creating Lasting Change / Results ... People flock to what works, where they foresee progress and coaches that a recognized and successful at helping their clients with their specific issues. 

☑ Depression/Anxiety/Chaotic Life ... If you’re own life is a wreck, you’re unorganized, chaotic, etc., how can you lead others out of that zone? You can’t. Lead by example and be a model for others to respect and appreciate. 

☑ Fear of the Unknown ... Fear not. Jump in and see where you land? There’s feedback with failure and progress with all steps forward. Fear is a lack of information, education and/or experience. Count the time you waste your energy on fear when positive thinking or looking at worst case scenarios are a couple of the more powerful ways to sabotage or neutralize that kind of thinking.

☑ Financial Concerns ... If coaching isn’t bringing in the money, perhaps the saying is true, “Don’t quit your day job.” Just as coaching clients need time to attain their desired goals, coaches need to allow time to grow their coaching income from no-income to part-time income to full-time income. Coaching under financial stress doesn’t make for a good coach. So, stay balanced, and don’t quit your day job until you’ve got 6 months worth of full-time income set aside from coaching and your coaching business has replaced your regular/day job’s income by 100%. 

☑ Support From Friends, Family, Colleagues & Others ... While it’s important to have others close to us support our occupational endeavors, such as coaching, the only support you really need from family is respect during the hours that you coach, particularly if you coach at home. I've heard other coaches say that their families don’t understand what coaching really is. They perceive it as talking on the phone for an hour. You know otherwise. So, I suggested they tell others that they’re “at work” or “working” and not go into much more detail. As long as the household remains quiet during the times that you coach, that should work. Where friends, colleagues and associates are concerned, even your significant other, again, don’t try to oversell them. If they “get it,” great! If they don’t, then keep your explanation simple and refer to coaching as your work. Many people have a basic understanding for the word “consulting,” which also works. Maintain absolute confidentiality with your clients and don’t be tempted to engage in conversation when you step into the kitchen for a cup of coffee. Working smart, privately, ethically, and valuing your clients will make you a successful, Rich Coach!

☑ Lack of Business Skills ... This is an important one! Many coaches excel at caring about people and having a desire to help them with their problems, but they fall short when it comes to managing their passions like a real business (i.e., well-oiled, money-making machine). Well, Rich Coach Broke Coach can help. As you read, plan to put into practice everything you can use to boost your business skills. 

☑ Organization, self-discipline and/or time-management skills ... Efficiency is the name of the game in all areas and aspects of running your business. How do you organize client records, signed forms/agreements, client notes, client billing, client reminders, your own notes and preparation? There’s a lot to supporting a successful coaching business than merely getting on the phone and talking to someone, intuitively and genuinely, after taking their payment. What ARE your payment options? How do you get paid? How is your website set up to help automate the selling process so you don’t have to keep telling your story over and over or waste precious coaching time educating new prospects on how your business operates and your area of expertise? These include automation, organization, planning, systems, software, tested/tried-and-true methods of running your coaching business. Don’t reinvent the wheel. Read on and experiment with what you learn in Rich Coach Broke Coach because these are proven recommendations. 

☑ Certification ... By NOT getting certified in certain fields of coaching, it can hold some coaches back from making the money they deserve. Some clients prefer not to work with a coach that is not certified. Who knows the number of income opportunities you might pass up because you didn’t get certified. Without certification, you might not feel as confident in your ability to coach someone because you don’t have the specified education and training. The quality of coaches varies dramatically. Certification is recommended.

☑ Credibility ... What do you think potential clients are thinking when they’re considering what services you can offer? Besides your fees, previous client testimonials, chemistry/rapport, and the right niche coach, you want to appear highly credible in your industry. Are you well-known? Are you respected? Who can vouch for your credentials to coach on your niche? For coaches that don’t have much experience or involvement in a business, industry or niche to be able to establish/showcase their integrity, a lack this vital information can pose problems for you in pursuit of coaching riches.

For example, how fast could you be hired as a coach if a potential client approached you with, “I’ve never heard of you ...” Whereas, “I’ve read about you online and offline, etc. I’m hoping you can help me ... Do you have time to hear about my situation? You must be extremely busy. Thank you for taking the time.” Do you see the difference?

How would you rate your coaching credibility factor, for example, 1-10 with 10 being AWESOME and 1 being LONESOME? I remember talking to someone who said, “Everywhere I go, everyone knows who you are!” Now, that’s the kind of recognition you want to have as a coach. It makes breaking the ice easier and finding clients easier. Ask yourself, if you had to work hard at something, would it be in making yourself well known in your niche or pounding the pavement looking for clients one at a time? I’d rather have a huge network of potential clients waiting for my services. Not all the fish you pull into your boat will make it to the dinner table, if you know what I mean. So, it’s better to have high-volume traffic looking for you, and seeking you out, than for YOU to laboriously search for clients.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #11

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

Coaching Certification: Should You Get Certified As A Coach? (Yes/No/Maybe?)

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

While getting a coaching certification can help you in many ways, it isn’t a requirement to become a coach. Are there benefits for getting certified as a coach? Absolutely. Should you get certified? It’s highly recommended.

Deciding to get certified depends on your personal and/or professional background and what your goals are in regards to launching your own coaching business. Is it important to you? Is it important to your clients? If it is, then absolutely become certified.

For example, if you have zero coaching experience and background and desire to start doing one-on-one coaching sessions, certification is strongly recommended. The benefits of getting certified in coaching are the training, the experience, and the coaching community to which you’ll have access when you receive certification and the advantages many new coaches don’t have when they launch their coaching business. 

Also, if you want to get hired by a company as a professional coach, then it is a good idea to get certified. If you want a structured organization to walk you through the steps of coaching, then get certified. If you want to be instantly plugged into a coaching community, then get certified. If you are ready to launch your own coaching business, yet don’t feel confident you have something of value to offer others as a coach, then ... get certified! 

Keep this in mind, a common mistake some coaches make in getting certified is that they think it will instantly bring them clients. Wrong! There are coaches who have never been certified who are charging up to $1,500 (and more) per month for private coaching. Then, there are coaches that have paid coaching certification companies more than $10,000 to get certified, and struggle to enroll a single paying client. 

Most coaching certification programs teach you how to coach, NOT how to make money as a coach, how to market your coaching services, how to create product, run the business, etc. 

Remember, the sole purpose of getting certified is for your personal experience and increase your knowledge base; to build your coaching skill set; to give you confidence as a coach from learning more about coaching and the industry itself; and finally, client confidence in YOU as a “certified coach!” 

If you think your clients would value your being certified as a coach, or you would like to benefit from being trained in the coaching field, then get certified as a coach so you can help give your clients the assurance they need to hire you.

COACHING CERTIFICATION

FREQUENTLY ASKED QUESTIONS

Q: What types of coaching disciplines can you get certified in? 

Depending on your specific coaching niche, you can get certified in a variety of coaching disciplines, such as: life coaching, spiritual coaching, health and fitness, business and organizational coaching, executive coaching, mentor coaching, leadership, NLP (Neuro-Linguistic Programming), recovery, family coaching, among other niche coaching certification opportunities.

Q: Who offers coaching certifications? 

There are dozens of companies that offer coaching certification. One of the most popular certification companies, who also sets the standard for the professional coaching industry worldwide, is the International Coach Federation (ICF).

Their coaching certification programs offer a variety of intensive training designed to provide coaches with the knowledge, skills and expertise of coaching. Now, while there are many companies that offer coaching certification, be mindful that some are (and are not) accredited. 

Q: What are accredited and non-accredited coaching certification programs? Which do you choose? 

Because of the high demand for coaching certification within an exploding coaching industry, several companies have popped up over the years offering their own type of coaching certification. The International Coach Federation (ICF) approves only certain certification programs offered by such companies based on their content and coaching-specific training curriculum. Not all coaching certification programs are accredited. 

Does it matter? It depends on your specific needs for certification. If you are going for certification in a special niche coaching discipline that doesn’t meet (or require) the accreditation of the ICF, then it’s fine. 

On the other hand, getting certified by the ICF, or an accredited organization is really what you want. With that comes the honor, prestige and confirmation that you’ve been certified by an organization that either sets or follows industry standards worldwide in the area of coaching.

The ICF offers three types of coaching credentials:

✔ Master Certified Coach (MCC)

✔ Professional Certified Coach (PCC)

✔ Associate Certified Coach (ACC)

Other accredited and non-accredited coaching certification programs include such titles as:

✔ Certified Life Coach (CLC)

✔ Certified Professional Life Coach (CPC)

✔ Certified Business Coach (CBC)

✔ Fitness Nutrition Coach (FNC)

✔ Group Exercise Instructor (GEI)

✔ MMA Conditioning Coach (MMACC)

... among so many others.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #12

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

Your Own Coach: Should You Get Your Own Coach? (Yes/No/Maybe?)

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Get Your Own Coach & Get Coached ... Here’s Why!

In order to better coach your own clients, YOU should also have your own coach. Nothing will impact your coaching skill set like having your own coach. It’s an investment in you and your coaching business that will pay off for years to come.

By hiring your own coach, you experience different coaching styles, conversation techniques, ways to approach difficult topics, coaching tools, resources and methods of coaching clients you never would have gained on your own or even working with clients. You gain more coaching skills by working with other coaches. No question about it.

What’s more, having your own coach (or coaches in different fields of interest/expertise) allows you to implement a wide range of resources, wisdom and feedback into your own coaching sessions with clients. You can share with your clients that they are not just receiving coaching from you, but from all of the coaches you’ve worked with and invested in. 

The reason why this is so important to your coaching career, is because you know what it’s like to be a client yourself. The only true way to experience that sensation is by being a client yourself (i.e., having your own coach). Intellectualizing it, or role-playing won’t cut it! Our minds needs input from outside sources to learn and grow. Therefore, the purpose of having your own coach. 

You would be amazed to find out how many coaches DON’T invest in their own coaching careers by hiring a coach of their own. This is like someone who wants to be a great chef, but chooses not to experience working and learning from chefs who have been cooking longer than they have. 

How can you learn to be more of what you need to be (as a coach), if you don’t learn from others in your field who have more experience than you? 

You can’t read enough, attend enough personal development workshops and business training sessions or listen to enough audio training programs. As a coach, you constantly need to be learning. One of the most essential ways to do that is to get your own coach and be coached! 

As a side note, another great benefit to having your own coach, is that YOU get “YOU TIME!” Remember, when your phone rings, and it’s your client calling, it’s all about THEM (your client) and not about you. If you coach several clients in a day, in a week, in a month … that’s a lot of time dedicated to others! Where do you fit in and when do you get that needed “YOU TIME?” From YOUR OWN COACH! 

You deserve your own recharge as well! Here’s your opportunity to take off the “coaching hat” and put on the “it’s all about me hat.” Ask for help in areas you’ve discovered you need help with. 

For example, you might have been working with a client and found yourself challenged! No problem, the next time you talk to YOUR COACH, ask them, “How would you handle this situation …” 

Can you have more than one coach? You bet! But first, start with one. Your finances might not allow you to pay for more than one. Later, depending on your needs, find a new coach that can help you in new areas or keep those that keep on helping’ you!

YOUR HOMEWORK

☐ Write down the criteria for your ideal coach. You might pick a coach that specializes in certain areas you feel you might be most weak in or areas you want to improve. 

☐ Create a list of interview questions for the coaches you wish to interview (for the job of coaching you). Come up with 10 questions you’d like to ask them, such as, “How long have you been coaching? Who is your ideal client? What do you feel you bring to your clients that really help them overcome (problem)? What type of coaching packages do you have and what are your fees? ...” 

☐ Set aside a budget to pay for your own coach. This might range between $150 to $1,500 per month. Pricing really depends on the coach, the type of coaching they offer (i.e., business compared to life coaching), the time and duration you spend coaching with them (i.e., ask for discounts when purchasing a number of coaching sessions in bulk), among other pricing factors.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #13

CHAPTER 1 — STARTING & RUNNING A “RICH COACH” BUSINESS

Know Where Your Money Comes From As A Rich Coach! Study The Rich Coach “Money Pie!”

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

How do you make money as a coach? Great question. Here’s the answer in short ... it comes from four main sources. Let’s review the Rich Coach “Money Pie” to see where the bulk of your income will come from as a “Rich Coach!”

#1) Product Sales – Books, workbooks, eBooks, courses, manuals, pay-per-view video, membership websites, eCourses, etc.

#2) Group Coaching – Classes, seminars, boot camps, workshops, tele-seminars, mastermind groups, webinars, retreats, coaching clubs, etc.  

#3) 1-On-1 Coaching – Telephone coaching, in-person coaching, eMail support coaching, etc.

#4) Affiliate Sales – Other people’s products, seminars, services, etc., that you promote and get paid a commission.

Bart Smith's 'Coaching Money Pie'

#1) PRODUCT SALES ... Before you score one client, how about scoring one product sale to bring in some cash flow into the business? If you don’t have any product to sell, and you rely solely on coaching income, then you’re (a) leaving money on the table, because you haven’t turned your knowledge into another form for sale, and (b) you’re putting all the pressure to make money on your coaching services. What happens if you’re sick, or want to take a day off? When you stop coaching, your income stops. So? Don’t let that happen. Take your current knowledge base and create some product(s) out of that. (i.e., books, eBooks, audio recordings, video recordings, membership website, online eCourse, home study course, etc.)

#2) GROUP COACHING ... With the sale of all your products, you have a large pool of warm prospects to go after to sell, not your expensive one-on-one coaching services, but a more affordable group coaching package(s). Scoop those people up, and save yourself a lot of time, by coaching many at a reduced rate.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #14

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Create & Name Your Coaching Services, Packages & Programs

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

If there’s any section within this book that you can get really excited about learning, it’s this section. Here’s where you you’ll be able to see all the potential money-making opportunities you’re going to want as a coach! Are you ready? Let’s begin.

When it comes to creating your own coaching packages, first determine what kind of coaching you’re prepared to offer potential coaching clients. Are you ready to work one-on-one? If so, great! Are you ready to coach in group formats? If not, that’s an area you can work on. What’s amazing, is your one-on-one coaching programs can be converted into group coaching packages quite easily, enabling you to generate more income in shorter amounts of time!

When creating different coaching packages, here are some ideas for you to consider while creating income opportunities (for you) and coaching opportunities (for your prospects):

✦ Individual Coaching Model – Simply, this form of coaching takes place one-on-one, either in person and/or over the telephone and can include follow up remarks via eMail. Broke Coaches, who don’t coach in any other formats (such as those about to be mentioned in this section) tend to run the risk of burnout, especially if they coach more than 10 clients per month. Rich Coaches tend to book one-on-one coaching clients only after they’ve either purchased a product and/or enrolled them into a group coaching program. One-on-one coaching should typically be reserved for those clients who really require specialized attention; consequently, you can charge more for your time at that point. Nice!

✦ Product Coaching Model – Before you start coaching one-on-one and taking up your valuable time with coaching (too many) clients at once, why not create any number of “information products” to help train and coach your clients to achieve the success they wish for? Imagine creating a coaching product you could sell for $500. Now, imagine selling four of those packages a month. Hmm, do you need to coach a ton of clients to pay your bills at that point? NO! In fact, you can be more selective about coaching only those clients who’ve gone through your product coaching model and THEN need specialized attention at that point. Selling products is a great way for Rich Coaches to earn extra, passive income.

✦ Group Coaching Model – This is by far the fastest and easiest way to start making (a lot) of money as a coach. Take your existing coaching topics/expertise and turn them into group coaching opportunities so that more people can learn from you in one program. Group coaching comes in the form of classes, workshops, tele-seminars, in-person seminars, boot camps and the like. Imagine conducting two live training seminars per year, where you might charge $1,000 per attendee to attend. Multiply that number by 50 people per seminar and you just made a potential $50,000 in one weekend to conduct your training seminar. Nice!

✦ Membership Coaching Model – Here’s where you take your knowledge/expertise and build a membership website to help train your coaching clients. All you need is the right membership software to launch your own membership/subscription website and you’re set! You can charge as low as $19.95 per month to access the member’s area, on up to $95 per month and higher! It all depends on the kind of content you’ve got packed away behind those membership site walls! You can charge monthly, quarterly, biannually, annually or even for lifetime access! Again, the idea here is to train your clients remotely, without compromising your own time coaching too many clients at once, one-on-one. Work smart like Rich Coaches do and you’ll get RICH!

✦ Training Coaching Model – Do you like to travel? Perhaps, you’d like the opportunity to take your expertise on the road (around town, in state, across the country or even the world) coaching groups of people just waiting to hear what you have to say! While this model might fall under the activity of speaking, it’s still a viable coaching model that can generate consistent income. How many training and coaching programs can you put together? How much do you know? Keep them tied to one another, as best you can. When you pitch a potential joint venture partner to coach their audience, you can pitch two or more programs; making more money in one location than if you just presented one program!

✦ Mastermind Coaching Model – If you like networking with others and bringing people of like mind together, consider forming a special mastermind coaching program where you “sell spots” inside your mastermind group of select coaching clients. The purpose of a mastermind group is to provide opportunity for a small handful of your clients to benefit from the advice, feedback, insights, experiences and recommendations made from others inside this small group. With you leading the way, you help bring brilliant minds together and solve other people’s needs (in life/business) without you having to possess all the knowledge to do so. Let your mastermind participants help each other.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #15

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Package Naming & Creation Wisdom

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Here are even more ideas to consider when creating and naming your coaching packages and programs! After you read through them all, put pen to paper and start crafting the perfect collection of coaching programs you can create and sell to your clients. 

☐ When naming your packages, think about what the client wants. Put yourself in their shoes. Are they saying something like, “I want to lose 25 pounds!” or “I want to look slimmer/skinnier/thinner!” or “I want to get out of debt (I need help)!” ... Done! There you go! There are the names you need for your package(s). Such as, “6-MONTHS TO A ‘SLIMMER YOU’ COACHING PACKAGE!” or “12-MONTH ‘GET OUT OF DEBT’ PROGRAM!” Whatever the client is suffering from, put their own thoughts and feelings into naming your coaching programs.

☐ Create different levels of coaching packages and membership levels per topic you coach on, such as: Beginner, Intermediate, Advanced, Inner Circle, VIP Day/Week/Month, Insider, Bronze, Silver, Gold, Platinum, Executive, Elite, Extreme, Standard, Basic, Starter, Deluxe, Members Only, Virtual Workshops, Action Package, Mentor Club, Mentoring Program, Masterminds, Accountability Groups, Immersions, Intensives, Protégé Programs, etc. 

☐ High end coaching packages typically consist of 6-10 people paying to be included in such an event.

☐ Create packages that include: more/less face-to-face time, travel to your/their home/office, some of your products for free or as a bonus, and more or fewer sessions.

☐ Sell one-on-one packages as group coaching programs, workshops and seminars to companies. These companies purchase your coaching programs, and assign different people to receive your coaching one-on-one on location at their office. Prices range from $2,500 on up, because you’re in one location serving several people, with standard lunch breaks and such. Can be a 1/2 day program or all day, event serving with multiple days of coaching service. 

☐ Create distance coaching sessions, in-house workshops, in-person retreats (i.e., people come to you from around the globe or you go where they are), apprenticeship, private mentoring, home study programs, etc. 

☐ Create 24-hour, 48-hour, 32-hour, 7-day, 14-day, 21-day, 1-month, 3-month, 6-month, 1-year, 2-year, 8-week, 10-week, 56-week, 365 day coaching programs with options to opt out, and always pay as you go. Create these programs off all your niche programs.

☐ Create programs based on different time limits per session, such as: 30-minute sessions, 45-minute sessions, 50-minute sessions, 1-hour sessions, 2-hour sessions, 3-hour sessions, etc.

☐ Create programs that take place over the telephone, online, face-to-face, at your home/office, at your home/office, via chat, via eMail, etc.

☐ Create programs that take place in the early morning, late morning, early afternoon sessions, late afternoon sessions, early evening sessions, late evening sessions, after midnight sessions.

☐ Describe different coaching packages after you name them. Spruce them up, pack in the benefits, and include some kind of call-to-action!

☐ Come up with some creative names for your coaching/workshop retreats, and then add to the end of those titles what type of event it is. For example, “Take A Hike“ Adventures In The Santa Monica Mountains. Here are some other types of retreats and outings you could have), Cruise, Exploration, Excursion, Farm (e.g., Fat Farm), Getaway, Hangout, Holiday Spot, Mission, Odyssey, Passage, Inspirational Meet-Up, Picnic, Quest, Retreat, Sessions, Tour, Travelers, Trek, Monthly Tune-up, Quarterly Tune-up, Annual Tune-up, Voyage/Voyagers, Weekend Journey, Weekend Coaching, Weekend Discovery, and Weekly Coaching.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #16

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Determine Your Rich Coach Fees & Coaching Rates

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

SET YOUR COACHING
FEES & PRICING

After you decide which coaching package(s) you’ll offer your prospects and after you’ve named them, the next step is to PRICE THEM! When it comes to pricing, there are a number of factors to keep in mind. As a coach, setting your fees doesn’t have to be a mystery. To determine your coaching fees, consider following these very simple guidelines: 

☑ Your pricing decision starts with who your ideal client is going to be, and what value you have to offer them. For example, if you are going to coach single moms on losing weight, then your coaching fees should be affordable for “their” budget. Or, if you are coaching business executives on increasing revenue, then you can probably charge a higher rate.

☑ Set your fees so they cover “packages” of your time, not “time” itself! In other words, don’t charge by the hour, by the week or by the (single) month. Instead, charge your clients for “blocks of time” you piece together which span across the calendar for weeks, months or a year at a time. That way, you get (1) a commitment and (2) enough money to help carry you through a small period of time while you’re starting your own coaching business!

CLIENT PERCEIVED VALUE

Even if you’re just starting out, it’s not recommended that you charge below $150 per month because you want to be compensated fairly for your time and energy spent with the client. Here are the common reactions to prospects when they compare a coach who charges only $150 month to a coach that charges $300+ month:

$150 Per Month Coach

☒ Less Trained

☒ Less of a Professional

☒ Less Experienced

☒ New to the Coaching Field

☒ Low Value for the Price

☒ Needs Clients/Work

☒ Few Contacts/Resources

$300+ Per Month Coach

☑ More Training Time

☑ More of a Professional

☑ More Experienced

☑ Been in the Field for Years

☑ More Value for the Price

☑ Established Practice  

☑ Many Contacts/Resources

PRICING YOUR COACHING PACKAGES

An easy way to find out what you should charge is interview other coaches who are doing the same type of coaching you want to do, and find out what they charge. Then, charge a little under them to attract clients, or a little higher to attract those clients who are willing to pay more for what you’ve got! 

On the high end there are coaches who are charging between $1,500 and $5,000 per month with a 3-6 month commitment. Typically, coaches who have extensive knowledge in their field of expertise charge these fees. Depending on where you’re at in your level of knowledge, business, etc., you can charge what your time is worth. The more you coach, the more you learn, and the more you’ll earn ... with time!

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #17

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Coaching Package Pricing Wisdom

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Here are number of other ideas to take in and consider when determining your fees. After you read through them all, put pen to paper and start crafting the perfect set of fees for all your coaching programs and packages. 

☑ It’s the time line or road of successful decisions that is the “tangible product” of your coaching services that can be sold all day long. Put a price tag on it, which you also justify in your sales material, and then go to town marketing it from coast to coast and around the world.

Decide whether you’ll charge month-to-month, by the session, or offer packages of your time. The advantage of selling coaching packages is that you can create predictable income, and elicit more commitment on behalf of the client. A client who invests $2,500 with you versus $250 is far more committed to their own success!

☑ Don’t forget to factor in your “energy costs” before, during and after every coaching session. Just because you spend 45 minutes with a client on the telephone, typically your work doesn’t stop there. You might be required to follow-up with an eMail response; read over sales copy, scripts and presentation outlines; listen to recently recorded audio before it goes live; among other tasks related to supporting your clients’ success. Be sure the fees you charge cover your time spent before, during and after your coaching sessions.

☑ Keep in mind, your income from coaching doesn’t have to come from coaching one-on-one exclusively. As you develop your coaching business, you can expand your coaching services into group coaching, tele-seminars and speaking gigs to help bring in more money and lighten the load of coaching clients one-on-one. 

☑ Also, you can make extra money by developing your own product line to sell to your clients as you coach them. And, have you heard of affiliate marketing? Affiliate marketing is your ticket to wealth in today’s age of information products! Imagine, while you’re coaching others, helping THEM improve their lives; THEY could be selling your products and coaching services for you; helping you with key marketing efforts with two aims in mind! (1) Help even more people and (2) make even more money! 

☑ Another factor that goes into pricing is FAME! How famous, popular or well-known are you in your (coaching) niche or industry? To the degree you are well-known, your income will also be on the rise. Check out this graph and shoot for stardom, fame and becoming well-known in all the circles you socialize and network in.

Price Your Coaching Fees Based On How FAMOUS You Are

☑ First-time coaches make how much? A few hundred dollars per MONTH per client, in most cases; not to mention finding those clients is hard when you’re just starting out. Celebrity (or high-profile) coaches make how much? THOUSANDS of dollars per HOUR/MONTH per client? All the more reason to get out there and get well-known! 

☑ You’re in the “SOLUTIONS-SELLING” business. You’re not a coach, per se. Don’t see yourself “selling time” to coach with you. Price your fees in accordance with the problem you’re solving. Determine the VALUE of someone’s problem, and what it’s costing them. Then, set your fee according to that number. Not so much what your time is worth. What’s it worth to the client for you to solve their problem? Most likely, in the hundreds, if not thousands of dollars.

☑ Decide what additional perks and services you have to offer your clients. The more value you can pack into your coaching (packages) the more money you can charge. You could offer services like recording your coaching calls, transcribing your coaching call recordings, various products, discounts on other services you offer, inclusion of other services, etc. 

☑ What do coaches charge within their niche? Typically, life coaches might charge $175-$750 per month, business coaches $250-$2,500 per month, and executive coaches $500-$5,000 per month, on average. Where do you fall in that range or niche coaching professionals? Charge accordingly!

☑ If you help people MAKE money, feel free to charge a certain percentage of what you think you can help them make. For example, if your coaching helps a client yield $100,000 in profits that year, you might charge them 1% of those projected earnings, or $10,000 over a 6-month period of coaching.

☑ Prospective clients who balk at your prices, probably aren’t really committed to themselves to make coaching work for them. Let them go. You want a client who is fully committed. Think about a car salesman. Does he really want to work with someone who balks at the price, or would he rather have someone walk onto the car lot that day and say, “I’d like to buy that car. I have money ready for a deposit. Can we get the paperwork  going?” (i.e., “I understand the value of what I’m buying, hence I’m not afraid to spend that x-amount of money. I want what my money will buy me.”) People without that kind of attitude, are NOT going to be committed to your coaching program. Leave them be. Look for those who are committed to reaching their goal with your help.

☑ The only real reason to offer pro bono (i.e., free) coaching to clients is so you can practice coaching others until you have a feel for how you bring about success in the clients you coach, in addition to getting testimonials. As you gain experience, the number of free sessions should decline, while your paid sessions increase.

☑ Group “freebie coaching sessions” (i.e., those you coach pro bono) close together. For example, coach these people on the same day, or in a single block of time, or in a group to avoid spreading “freebie work” (and no billable hours) across the whole week/month. Also, get these freebie people to do some WORK on THEIR PART before they come to you. Make THEM EARN IT. Who’s it free for, just them? Forget that business model. When you make the client work for their free session, he/she (1) values it more, and (2) makes your job easier to enroll them into future paid sessions, because they have shown signs they want to improve their situation with your help. Qualifying a prospect by giving them preliminary homework before their free session is the only way to go. This way, you’re better able to judge them as paid-client material.

☑ How long is the first free session? Some say 30-min, some 45-50 min. I say? As long as you want. Just imagine, you work with someone for 2-3 hours on the phone for the first call, not really giving away all your secrets, but spending that time having the client tell all about their problem / issue needing help with. Then, you craftily weave your previous success stories around their problem to the point where, (1) the client is hooked on you, (2) they see working with you just might result in your helping them achieve _____, and (3) they spent all that time with you, they’re not going to waste their own time (telling their story all over again) with some new coach. They value their own time, just as much as you should value yours. So, they might say to themselves, “Why not take the plunge with this coach (i.e., YOU)? They really heard me out, I see he/she cares and they did provide me a lot of reasons why (and how) they could help me. Where’s my credit card! I’m ready to purchase coaching services ...”

☑ Providing just a few (more) hours, on top of their allotted pro bono time, could be your one chance to really make that great first impression they will NEVER forget. THEN? After asking a few qualifying questions, such as, “How has our first session been for you? Are you ready to work with me to achieve ______? Great, after working with you today, and now that I know deeply what’s required of me to help you, I would recommend either of these two packages because (and go into the reasons). Do you think that’s a fair estimate of time needed to help you accomplish _______? Then, sign on the dotted line!” 

☑ You could also offer them a package of coaching hours at a price that actually RECOUPS your overtime spent on the phone! If you’re confident in yourself to close a client, why not offer just a little bit more time where you can really impress them, hook them, and make them an addict of your coaching voice, mind and potential solutions. Determine how long they want to coach with you by offering them 2-3 package options, sign them up, and schedule you’re second (of many) coaching sessions.

☑ Charge (fees) based on your reputation, experience, accreditation, certifications, previous/current client success stories, (celebrity/popularity/known) status in your industry, what the market/industry you’re in will bear, what other coaches are charging, income brackets of your target clientele, documented success stories, measured rates of success, what your time’s worth, how in demand you are, etc. The more you have of these things, the more you can charge ... without any hesitation at all!

☑ STILL UNSURE about setting your rates and fees? Don’t know what FEELS right? There are NO feelings in sales. Sales is an informed presentation of product/services, followed by choices provided to the consumer (i.e., blue or red or white, large, small or medium, 2-door or 4-door). In other words, as a coach, you are armed with enough knowledge on how to take clients from point A to point B in their lives/businesses, you’ve evaluated the VALUE of what that means to the customer, then as a result, you price your fees accordingly. The only FEELINGS felt are the way you feel after someone has purchased your services. ECSTATIC!

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #18

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Help More People & Make More $$$ With “Group Coaching”

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

One-on-one coaching is rewarding, but it’s also exhausting, time consuming, and often leaves you scrambling to find additional clients just to keep your pipeline full. A great way to explode your business while helping even more people is to conduct group coaching sessions. 

For your clients, group coaching is more affordable than your private coaching prices and it also gives them a chance to connect with other like-minded people. 

Here are five ways to create a group coaching program that will rock your client’s world and help you to grow your coaching business:

#1) Focus on your clients’ true needs. People want results, not fluff. Help your target audience solve one particular problem through your group coaching program and you’ll have a higher chance of filling your program every time you hold it. 

#2) Design a course outline. This helps you to know what lessons and exercises you’d like your clients to complete each week. You can include learning objectives, homework assignments and activities that you want clients to take part in during the group coaching.

#3) Make a list of guest experts you can invite to help you teach during the course duration. Guest speakers are an important part of your strategy for profiting from your own group coaching. Guest speakers bring credibility to your coaching. Do you have to pay guest experts and guest speakers to be involved? Offer them an audio recording of the group coaching they were just on along with a possible transcript which they can take away and sell for full profit. Your gift to them is exposure! Modify this arrangement as you wish. Guest speakers can also help to promote your name and company to their audiences as well. When they sell your group coaching to their customers, those referrals might just become your customers too through purchases by them of your products.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #19

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Great Product Ideas For Both Broke & Rich Coaches

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

While coaching can be a great way to make a living with what you know, it does have its limitations. How so? In the fact that you can only coach so many people, per day, per week, per month, per year! That is, with coaching, you’re bound by the limits of time and energy. When you grow tired of talking on the phone or meeting people face-to-face, you need a break. The problem with breaks is that you can’t make any money when you’re NOT coaching! 

So? The solution to that problem? PRODUCTS, of course! Listen, nothing beats the potential income that can be generated from turning your knowledge into product-form and selling it to an unlimited number of people seeking your solutions.

Sure, you love working with people one on one, and you love the feeling you get when you can really help someone. Well, transfer that knowledge into various product formats and experience the same feeling you get when a customer contacts you to say, “Thank you, I loved your book.” Or, “Your audio program really inspired me to take action!”

Rich Coaches know in order to break the wealth barrier to hire different levels of income, they have to duplicate themselves in product form. So, here are some product ideas so you too can generate extra income. These products can be sold through your website, on other people’s websites, through affiliate network websites (i.e., ClickBank.com, JVZoo.com, E-Junkie.com, etc.) and more.

Products just seem to allow you to take a break from coaching, or fill in the gaps when you don’t want to coach. If you stopped coaching, you stop earning money. Products sell 24/7.

PRODUCT IDEAS

TO HELP YOU MAKE EXTRA MONEY WITH YOUR COACHING KNOWLEDGE & EXPERIENCE

☐ For starters, if you don’t have your own products developed yet, and don’t have time to, then at least start promoting other people’s products to your list of clients. 

☐ Books: Have you thought about writing a (print) book? You should. Books are great lead generators, great for getting interviews about what you do, establishing your credibility, and they make great outlines for creating workshops and talks. As a coach, I bet you have a lot of stories you could tell about overcoming that which you help your clients do to achieve their goals. Write about that, or something else. Need help getting started? Check out my book-writing mtc-layout-video-mtc-layout-video-tutorials at BartSmith.com/training. I share a lot with you about how I write my books.

☐ eBooks: While you’re thinking about writing a print book, there’s no excuse why you shouldn’t at least write an eBook first. eBooks make great marketing tools, help you get the added exposure you need to promote your coaching business, establish your credibility in the marketplace, and helps you find leads for your coaching practice. Did I mention the cost to publish eBooks is next to nothing? Simply write your eBook in Microsoft Word, follow a few simple guidelines as outlined on KDP.Amazon.com, and you’re set. Create your eBook cover, and upload the insides and the cover to Kindle, and you’re off to the races. You can find information about how to publish eBooks on Kindle at BartSmith.com/training. So, be sure to check it out.

☐ Audio: Once you have your eBook, print book, even articles written, record them all and create an audio product out of them. You can sell the MP3 version from your website, Amazon’s ACX website, Audible.com, among other websites that let you sell audio and/or downloadable audio products, such as ClickBank.com, JVZoo.com, E-Junkie.com and ShareASale.com. You might even consider recording your own subliminal audio programs. Simply record a script, which you write, filled with positive affirmations about your niche expertise. Then, mix that recording on top of some new age instrumental background music and you’ve got a hot audio product to sell. You’ll probably have to pay between $50-$250 for a good track of music, but it will be worth it. Just 100 sales of it at $20 per sale could pay for it, plus you can say you have a subliminal recording to sell. Do publish all the words that are in your subliminal recording so people can approve/decline what’s going into their head.

☐ Video: Can you record a collection of your workshops, seminars, talks, book excerpts, etc., in video and sell it? You bet you can! Set aside a good week to record a lot of video back to back. Then, review it, edit it, compile it, and publish it into several videos (and/or DVD’s) and sell it. You could stage a mock workshop, where no one’s even there. Record it, and sell the recording of you teaching what you know best. You could also just create a guided meditation audio recording with your own relaxing voice. Your clients just might love to listen to you even more after they hang up that coaching phone call with you. Don’t let them suffer. Give them what they want!

☐ Done-For-You Materials: These could be scripts, templates, forms, or anything that you do for the client so they don’t have to, saving them time and money. Well, that is, they have to PAY YOU for these “done-for-you” products.

☐ Interview Experts: These interviews can be turned into a book, eBook, an audio, and/or a video product altogether. Your clients will thank you for bringing more to the table of knowledge that just what you can bring. We all have our limitations, but with your clout, you should be able to. 

☐ SPECIAL REPORTS: Special reports are typically around 5-15 pages in length. They contain valuable information, even how-to instruction and unique details on how to overcome a problem you know how to solve. They can be sold for $5-$10 from your website in downloadable digital format, and through third party online digital marketplaces like ClickBank.com, JVZoo.com and the like. 

☐ Home-study Courses: These are bundles of books, audio, workbooks and video, or any combination of those items bundled up into a “home-study” course. These can sell for anywhere between $50 and $500 or more. If you coach, you definitely need to have a home-study course created. You could create one that gears towards clients who HAVE already coached with you, as well as those clients who have chosen NOT to coach with you for whatever reason. Don’t let them get away. Offer them a less expensive version of coaching with you in the form of a home-study course. 

☐ Coaching Cards: These cards are the same size as regular playing cards, but instead have your coaching messages and affirmations on them. What a great way for clients to remember what you said to them, when it’s repeated back to them on simple index cards.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #20

CHAPTER 2 — FEES, INCOME & MAKING MONEY

More Money-Making Tips & Ideas For ALL Coaches

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

As if Rich Coach Broke Coach hasn’t given you a ton of money-making ideas so far, well, here are a few more that might not have fit in some of the other previous sections. Look them over, and if any hit home with you, take the necessary action and start generating more income based off them.

MORE $$$-MAKING IDEAS

FOR ALL COACHES TO MAKE
EVEN MORE MONEY THAN
THEY ALREADY ARE!

☐ A leveraged income-generating structure of multiple streams is what to strive for. Otherwise, coaching will become a job, with no extra income coming in from other sources when you’re not coaching.

☐ You have the knowledge people are seeking. The problem is, it’s truly a numbers game and a game of filtering out those with the money, and those with little to no money. So? Package your knowledge and problem-solving solutions in different forms and at different prices, and don’t think anything of it. Rich Coaches make money through several means, not just coaching one-on-one with clients. How would you like to make $20,000 a year coaching clients one-on-one, and another $20,000 from product or membership sales? How about another $10,000 a year from speaking? How about another $5,000 a year from affiliate marketing referrals you make to vendors and others paying you a commission for referring business to them? How about another $2,500 per year from ads on your website in your blog? Do you see where this is going? Think outside the box. DON’T LIMIT YOURSELF to just making money coaching (the traditional way). That’s why a lot of coaches get stuck and go broke. If you ever have a slump trying to fill your coaching calendar with paying clients, or you just don’t want to coach for a period of time, your income doesn’t sink to ZERO. You still have other income sources paying the bills. 

☐ Buddy up with other complementary coaches who can refer you clients just as much as you’ll look for clients that meet their referral requirements when such prospects comes around. All coaches should offer and pay each other a referral fee for doing so. If you had 30 coaches looking out for you, as much as you looking out for them, one way or another, you’re going to make some money off someone getting coached. Hit the Web and search for coaches coaching topics you don’t cover. 

☐ Introduce yourself, tell them about this referral service you both could benefit from and get to work! Have them do the same. Imagine networking and referring 10 paying clients to 10 different coaches in a single month, because you weren’t qualified (or available) to coach them. 

☐ Suppose the referral fee was $100. You just made $1,000 and all you did was say, “Go see (coach’s name).” Compare that to waiting around to find someone to coach for one of your $997 packages. Leverage your time and help others, while fishing for yourself. Who knows, imagine 10-20 coaches looking out for you, and between them, referring 1-3 clients to you per month? Have a web page on your website, public or private, that educates these referring coaches about what you do, what to say to potential prospects they come across, how to send them to you, etc. Make it easy for people to refer clients to you. Encourage them to do the same. 

☐ Keep in mind, you will make money coaching if you are successful in helping clients achieve their goals. Having said that, now FORGET ABOUT THE MONEY! Focus on the clients, and let the money take care of itself. I say this because clients want to know you really care about them, their success, and can listen to their most inner thoughts and fears, and not be worried about cha-ching / “when do I get paid?” So, set your fees, let your fee schedule do all the talking, let your payment systems automatically collect coaching client payments so you don’t have to harp on them about it, “Oh, I need to collect your payment for this month’s coaching.” No, that will be put on auto-pilot with your shopping cart or other payment system. Choose to create recurring products in the cart so their credit cards can be billed automatically.

☐ Can’t find clients to pay you (what you’re worth)? Tired of spending all that time marketing, and giving away your valuable time with free sessions on those who never call you back to book even one minute with you? Then, coach the world for free with your own podcast show, and attract sponsors to foot the bill, pay your bills, and get rich! There are people right now, making thousands of dollars per month with their own podcast show. All you need is great coaching content + listeners + sponsors = you’ve got a Rich Coach model for sharing your passions and coaching services with the world, for free, and you still make money. So, instead of wasting all that time on free sessions and networking, etc., spend it creating the best podcast show ever. Here are some show name ideas ....... Then, research how to conduct the show at MTC ..... tools you need .... format ..... where to post/broadcast/submit yours to .... and be sure to video record you doing your show too. Then, have people call in ... You can still have people call in or submit their questions/challenges to you for solving. Then, pick one that many have, and coach that person (and others) virtually via your own show. Those at home listening, will listen in (like a real popular radio show) and love it. Some might have the courage after listening to you for awhile to actually book you for one-on-one coaching. But, by that time, your rates are how much? SKY-HIGH! You’re busy! This is a great way for new coaches to get started and get their message out there on how they can help others with what they know. Pick different topics you can help people with and start broadcasting your solutions. You could later have a pay-to-listen show too. It’s all up to you!

☐ Another reason to befriend other coaches (especially, in your field/niche) is they might turn clients over to you if they’re either overwhelmed with clients, moving on to different niches, only taking higher paying clients, or other forms of coaching.

☐ Co-create a product, seminar, workshop, etc. with other coaches. Bundle up different topics you can all speak on. You might call it a LIFE MASTERY SERIES where each coach submits their own contribution of audio recorded expertise to the bundle. Imagine if three coaches contributed to this product. You could sell the bundle of audio for $97, and split it three ways. Sell a potential 300 in a year (with combined marketing efforts) and you each just made a sweet $9,700 in extra income. WHO couldn’t use that kind of money falling from the sky? EXACTLY! Co-create similar products, with different coaches of different niches. Come up with at least 3-5 different bundled products with multiple coaches across the board.

☐ Companies hire consultants (i.e., coaches like you) to help them with their own clients and even employees. What a great way to use your expertise on individuals who need your help, and are recommended to you through a familiar source to them. Who knows, one of those clients (or employees) might want to work with you on their own time.

☐ Train others in what you do. Others are looking to make money these days. You can charge them to get trained by you. Then, you could insist you take a percentage of their income for the first year, or so, when you give them clients. Skim a little off the top for yourself.

☐ Companies love workshops and investing in their employees. So? Create a 2-4 hour workshop (or all-day with lunch breaks) around your coaching niche, and just don’t go after individuals for coaching, go after companies. Besides, they’ve got the deep pockets to pay you what you’re REALLY worth. So, don’t ignore this money-making resource. Create your program, then ask your friends/family to provide your newly created workshop for FREE to their company/staff. All you need is 1-3 positive testimonials from these companies, along with a bunch of photos and video of the employees saying how great you were and what they got out of the program, for you to pitch it to other companies for a fee.

☐ Coaching companies is just like coaching people in group (or individual) format. Besides, most employees would LOVE to pitch your workshop to their boss, because they’d love to get out of work and attend your workshop IN THEIR OFFICE! Who knows, depending on the size of the company, you could offer the same workshop to a multitude of different groups within a single day, multi-day visit, or a week-long period. Who knows. Price them at $500-$2,500 for the half day, and $2,500-$5,000 for the full day. Pricing depends on group size, duration of training, number of training sessions, are products included in the price (i.e., include giving out your books for all audience participants at cost + $2-5 profit per book. No sense in charging full price, the company’s buying your books in bulk. So, 20+ books can be bought at cost + a small profit to you. You don’t care about that because you’re getting your book in the hands of potentially 10-100+ people. Those people are all joining your email list, right? Of course. They’re all going to be up-sold to private coaching with you, using a company discount coupon, which expires one week from the day you coached them at the office, right? 

☐ Are you seeing how this works? These workshops might also include individual coaching time, or hot-seats that encourage people to call on you for helping them with their own problem during/after work.

☐ Search online for companies that you could approach with your workshop rehearsed and perfected. Offer them a link to learn about you. After you make 10-20 calls, and get 9-19 no’s, you’ll learn best how to approach other companies with a more refined pitch. Every workshop, company, budget, do they / don’t they bring in consultants company is different.

☐ Getting a gig to work with a company can do wonders in boosting your credibility with and selling your services to individual clients. So market to companies, just as much as you’re looking for individual client coaching work.

☐ Companies are looking for coaches, trainers and consultants who SPECIALIZE. So, no general (I can coach on anything) type topics. Be as specific as possible. Drill down, and shoot for a bull’s eye! If you have many talents, offer them in a menu like format, and offer individual pricing for each, and group discounts for multiple selections.

☐ Companies will check you online, make sure your website is rock solid, professional, working and has everything they need to make their decision within 5 minutes to 5 days, i.e., they have to get approval from someone.

☐ You can make more money coaching more people at once. So, set up group coaching, seminar, workshop and class sessions. Coaching with you one-on-one is more expensive, because your time is valuable, and working with one client (one-on-one) is not the best use of your time, naturally. You’d rather be teaching 10 people at $100 each that day, than just one person for 3 hours @ $100. Do the math.

☐ Starting out, you might start with the group model. More people, more money. As your popularity grows, you can work with less people, and charge more.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #21

CHAPTER 2 — FEES, INCOME & MAKING MONEY

Avoid These Very REAL “Coaching Profit” Killers!

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

As you start and run your own coaching business, your bank account asks that you be aware of these hidden ‘Coaching Profit’ killers so you stay profitable every year you’re in business as a Rich Coach! 

#1) No PROFIT Planning ... Are you working (in your own coaching business) just to get by? Why not plan ahead for the future, make some great plans for yourself to grow your coaching business beyond leaps and bounds. If your business doesn’t grow by at least 10% every year, then we’ve got a problem. Sure you might be small today, by average business standards, but dream (and plan) that one day your company name, brand and name will be a household name. That means more marketing, more exposure, more leads, and hopefully more coaching client sales!

#2) Giving Away (Too Many) Billable Hours For FREE ... This is important! Make it a rule, each new client receives only 15-30 minutes of free consulting up front to “win” their business. Thereafter, charge for every move you make. That includes, reading/responding to ALL their eMails, doing research, answering their phone call, etc. Simply create a CUSTOMER CARE PACKAGE, which includes x-number of hours for x-price. If you have 20 clients tugging at you every month for “only 5 minutes each” PER WEEK, that’s a lot of time you could be making money. You’re not in the charity business. Charge for your time or go do something more worthwhile. Instead of losing money (working for free), direct prospective clients to one of these four “informing-options” to see if they are even worth coaching (one-on-one) in the first place: 

2.1) Free eZine, eBook, eCourse or eReport ... 

2.2) Free (sample) audio/video recorded coaching session ... 

2.3) Buy one of your products ... 

2.4) Enroll them into a group coaching class/workshop ... 

#3) Not Building/Maintaining An eMail List ... Your present/future profit is in your LIST, not just your marketing efforts. Such as, the more people who know about you, the more you stay in front of them (i.e., with your own newsletter, eZine or eMail specials that go out to them on a regular basis), the more you’ll stay in the profit zone and making sales!

#4) Giving Away Your Products For Free ... Just because you like someone, or feel you want to be “generous” and “giving”, don’t just give away your products for free? There are costs involved in producing those products, and perhaps, time involved in creating them. I had a client once who said, “Bart, let me give you one of my books!” Before she could put pen to paper to autograph it for me, I told her to stop! “Give me the electronic version. I’m your friend. Don’t waste a printed book on me, which you could sell to a perfect stranger.” She thanked me, and sent me the eBook version of the book. I saved her $20 in profit somewhere. Imagine if she did that 5 times in a month? That’s $100 down the drain. Books have costs, as well as other physical products. 

#5) Not Lowering Various Service Fees & Overhead Waste ... What services are you paying for that are not paying for themselves? Look through your credit card and/or bank statements to find monthly recurring bills that you don’t need any more. Make it your goal to save $50-200 a month each year you’re in business. What you wind up saving you’d be better of spending on some online advertising through Google AdWords or Facebook ads to MAKE you money. Look through the various services you pay for each month to see if you couldn’t knock some of those bills down, or get rid of them. Look at the vendors extracting monthly service fees out of your bank account. Do you need those services anymore? You might have a YEAR ago, but not today. Cleaning up and getting rid of useless services, can save you potential hundreds every year. Again, more advertising money.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #22

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Finding & Working With Clients

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Clients are the lifeblood of any coaching business. Is finding clients really that hard? Why do so many coaches struggle to find their ideal client? For sure, it depends on the coaching niche they’ve chosen, for starters, but, why do coaches even struggle trying to explain what they do for a living (i.e., coaching), let alone justify the rates they charge? Great questions! 

Unfortunately, these are the problems most coaches face throughout their coaching career. Sounds like these coaches could use their own coach when it comes to such issues and overcoming client acquisition obstacles, career explanation freeze, overcoming objections, and how to help bridge the gap between what it takes to be a Broke Coach to becoming a Rich Coach.

Seeing that this is one of the biggest problems most coaches have, let’s not waste any time and get right to the secret formula for finding clients. Shall we?

THE SECRET FORMULA FOR FINDING YOUR IDEAL CLIENT

Finding clients is really more of a science than mystery. How so? Well, mystery invokes we may never find out the truth for what we seek. Science on the other hand, involves curiosity, research, experimentation, and ultimately conclusion of what is truth. In coaching terms, finding clients can be looked at like a science that must be approached with curiosity, research, experimentation and then a conclusion as to what works best for the coach in their chosen niche.

So, let’s reveal the secret formula to finding coaching clients that you can then put into practice as if you were a scientist in your own laboratory honing some secret formula for finding the ideal client for you. Are you ready? Here goes:

+ KNOWLEDGE ... knowing exactly what helps your ideal client accomplish their goals, overcome obstacles, reach victory, fulfill their dreams, etc. This is the GAP that clients suffer from most. They don’t know how to get from point A to point B, but you do. If you have these steps down to a science, then you’re ready to sell them in the marketplace of clients looking for what you can help them with.

+ EXPOSURE ... to your target market/client. Without this, you’re dead in the water before you even start. Don’t know where your target market is? Research will take care of this problem before you know it.

+ PRESENTATION ... A well-crafted presentation on what you know without giving away details, and only tips/hooks; motivating listeners to want to know more about the process. The formula for telling people involves the “WHAT” part about something, and selling them the “HOW” when they want to know “how” to do get from Point A to Point B. So, to draw them in, coaches should talk about a client’s PAIN / PROBLEM / PASSION!

+ PAIN / PROBLEM / PASSION ... Get prospects to see, feel and/or hear their own pain until they can’t hairshake it off and call on you (i.e., hire you) to help them. You sell solutions to problems. Talk about the problems people face, to a target market, and when the ideal client is ready ...

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #23

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Client Welcome Packet/Letters, Coaching Agreement Forms, Worksheets, Logs & Templates

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

While it’s exciting to think about finding new clients, getting paid and working with them ... hold on there! A very important aspect to all those activities is the understanding and use of very specific coaching client forms, worksheets, and agreements before you ever entertain the idea of helping others with your coaching talents. What’s more, remember, this is a business, not a hobby. All your effort in finding and working with clients won’t truly manifest into it’s true potential if you don’t have an organized approach to helping those who wish to hire you.

As a coach, think of yourself like a teacher who tries to teach students without handouts, worksheets and quizzes? That’s not the best way to help students get the most out of the teacher/student learning experience, is it? So, before you go looking for clients, let’s go over a few of the types of coaching client forms, worksheets, and agreements you should be using in your coaching business to help bring out the most in you, as the coach, and the client, when to use them, and how!

Should you have a Coaching Agreement to coach someone?

Absolutely! Contracts and agreements are a must-have when performing work for anyone, whether you plan to perform such work for free (pro-bono), or you plan to charge any amount of monies for your time and effort.

Contracts are legal instruments used to ensure each party lives up to their part of the agreement. Contracts spell out the details and conditions of the work to be performed, expectations, and obligations, so there is no doubt between two or more parties what is to be expected. Contracts shield you (the coach) in times of war (i.e., if a client wants to sue you); they ensure you get paid (i.e., contracts are binding and obligate your client to pay what they agreed to); and help your client perform their part of the agreement (i.e., client agrees to do the homework assigned, apply themselves, show up on time or forfeit monies paid, etc.). 

Contracts are an integral part of the coaching business. Understanding the why, when and how to use them is vital to your success as a Rich Coach. So, let’s take a closer look at what goes into a good contract, how they’re constructed, and some coaching agreement form templates for your use.

What elements make up a good coaching agreement?

While not all contracts read alike, there are some common elements that make each contract clear and binding …

☑ DATE OF THE AGREEMENT … Every contract should be dated. When was it signed and executed? 

☑ NAME ALL PARTIES … For whom are you providing coaching services for? All parties involved should be named in the contract. That means you and your client’s name.

☑ DESCRIPTION OF SERVICES … Exactly what will you be doing for the client? Spell it out. The more details you can specify, the more protection you potentially have if the need arises.

(THIS CONTINUES IN THE BOOK)

What other coaching forms, worksheets, questionnaires, and surveys would be helpful?

Just like a restaurant needs plates, bowls, and silverware to serve delicious meals to its customers, a coach needs contracts, forms and worksheets to serve his/her coaching knowledge in an organized form to the client. Without them, a coach’s guidance is like a kite in the wind. Coaching contracts, forms and worksheets work like a treasure map, helping both the coach and the client stay on track towards reaching the client’s desired goal.

☑ Welcome Letter ... For every new client who hires you for coaching, consider sending them a Welcome Letter, which formally introduces yourself, your coaching business, how you work with clients, and what you expect of your clients when they coach with you. Typically, this letter might be best in a client Welcome Package, which might include other forms for their use either before, during or after a coaching session. 

☑ Coaching Client Agreement ... This is the formal contract between you and your client. Have them read it, sign it, and return it to you either by mail, fax, eMail or hand-delivered in person.

☑ Client Data/Intake Form ... This is a form which the client fills in their personal information so you, as a coach, get to know them better. 

☑ Starter Session Vouchers ... These are sample gift certificates you can model yours after if you choose to offer free coaching sessions. Simply design three per page, get them printed, cut up in 1/3 and hand out to those people you’d like to work with as potential clients. 

☑ Free (Pro-Bono) Session Agreement ... Even if you have a free coaching session with clients, you’re encouraged to have an agreement. Doing so gives the client an experience of professionalism, and that you really do take working with them seriously. 

☑ Free (Pro-Bono) Session Preparation Forms ... Even during free sessions, make the clients work for their “free session”. This isn’t the time to chat or socialize. Treat free sessions like a work day and help the client get started on what they might discover should be a second, third, fourth or more coaching sessions with you. ONE session just isn’t enough to reach their goal. 

☑ Session/Call Records ... The coach will use a form like this to make notes about what their coaching calls were like per client. Simply print a new form per client per coaching session, and fill it in as you go or at the end of the call. Later, you can transfer your (hand written) notes to the computer for better note-taking. When you’re done note-taking, file the form inside the client’s personal folder, which you should be keeping for each client you work with. 

☑ The Wheel Of Life Form ... The wheel of life is a great indicator of (1) what areas of a client’s life they struggle with and where they excel and are most happy; (2) where the client might need to focus their efforts on. This form can be processed by the client early on in the coaching program, or any time, deemed appropriate.

☑ Self-Assessment Forms ... This is an initial form a client fills in to “self-assess” where they’re at, what are their strengths and weaknesses, what action steps have they tried/succeeded/failed at in an attempt to achieve their desired goal. Once this form is filled in, the client will turn this form in to the coach for his/her review. Coaching can commence based a lot off what the coach can deduce from this form. Or, the coach can simply refer to the entries on this form as they listen to the client. 

☑ Goals & Action Forms ... These forms are used by the client (and the coach) to determine, and act on, the goals and actions outlined for a client to act on to achieve their desired outcome.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #24

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Create A Thorough & Very Useful Client Questionnaire or Self-Assessment Form

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Additionally, you might create your own CLIENT QUESTIONNAIRE, either online or in print format, to help extract information out your client without being too intrusive with a lot of verbal questions up front.

Typically, clients are a little more open to answering initial questions in writing, than verbally with someone new. So, the sooner you understand your clients, their world, their needs, their wants, the sooner you will be able to help them.

Your questionnaire should be tailored to the type of coaching you are offering. For example, if you are a wealth coach, then you should ask questions regarding their finances, right? Are they in debt? How much in debt? What are their beliefs about money? What is their credit score? Any outstanding loans? Do they have any savings? Investments? What is their financial education? Do they have any passive income? 

Ask detailed questions. The more you know, the more you can help them. By them being up front and honest about “as much as possible,” the more you’ll be able to help them throughout your coaching calls. Here is an example of a questionnaire prior to starting coaching:

GENERAL QUESTIONS

☐ “What caused you to seek coaching?”

☐ “What three specific outcomes or results do you want to achieve through coaching in the next six months?”

☐ “What are three changes you want to make in your life over the next year?”

☐ “What has prevented you from achieving these results?”

CAREER QUESTIONS

☐ “Do you have a vision for your professional life? If so, what is it? Define it, write it out, know it by heart and LIVE IT!

☐ “How do your career goals support your personal goals?”

LIFE QUESTIONS

☐ “What are your three greatest accomplishments in life?” 

☐ “What special talents, qualifications, interests and gifts do you have that you would like to develop and contribute?” 

☐ “What are you most grateful for in your life right now?” 

☐ “What are your primary stressors?”

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #25

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Coaching Session Formats, Forms & Working With Clients

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

What Is Your Preferred / Ideal “Coaching Session” Format?

Now that you’ve been versed on forms, agreements and contracts, let’s talk about the format of a typical coaching session so you get an idea of how you might spend your time with your client, whether it’s a free or paid coaching session. 

Just ask yourself, how would you like to coach your clients? How will you be at your best? How will clients get the most out of you? Where’s your “power spot,” at your home office, at the office, face-to-face with your client? Would you prefer to coach over the telephone, in group format, online via VOIP/webcam, early in the morning, in the afternoons, evenings, weekends?

Set Up “The Rules Of
The Game” On Your
Very First Call

We teach people how to treat us by setting up our rules. In your first session, you will set the tone for your entire coaching relationship. Your client will learn all about your expectations on this first call, and the do’s and don’ts in your coaching relationship. It is much harder to incorporate these rules later on in coaching. So, establish them EARLY! 

On the first call, share the outcome for your session. Get to know more about the world they live in, and reinforce the rules of the game in order for them to benefit most from the coaching. Then, finish the session by clarifying their top 1-3 goals.

Here are the rules of the game every coach needs to share with their client: 

#1) Coaching is NOT therapy. That means that we do not go into the client’s past and analyze negative behaviors or experiences that might better be handled by a trained therapist or counselor. 

#2) State clearly, the number of sessions they’ve invested in (going into the future). Let them know at what time/date their coaching sessions will need to be completed. Have an expiration date with your coaching package/sessions to make sure they keep the momentum alive. More importantly, this will prevent your client from going “M.I.A.” (Missing In Action) during the course of your coaching sessions. 

#3) Tell them to be on time! If they’re late, their session will be shorter, and won’t go over to make up any lost time. The first session will be 45 minutes, and each session thereafter will be 30 minutes. So, BE ON TIME! 

#4) Be focused for each call. It is the CLIENT’S responsibility to lead each call by deciding prior to the session what THEY would like to receive coaching on. Remember, you’re not a psychic, so ask them to tell you. 

#5) If a client must reschedule a coaching session, the client must reschedule that call at least 24 hours in advance, or it will count as paid and as one of their coaching sessions. Always mention to them, that your time is valuable and so is theirs. This is your business. Protect it. 

#6) Let your clients know this is THEIR time. So, make sure they’re in a place with zero distractions, and total privacy. Privacy is important for you too. It’s very difficult to concentrate and focus on the thoughts you should have coaching your client, when your client has children/pets making noise in the background. Privacy, quiet, concentration time; that’s what you both need!

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #26

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Use Planning Forms For Every Coaching Session

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

When you ask your client, “What would you like to focus on for our call today?”, and they say, “I don’t know.” That’s no way to start off any session. So, why not use a Planning Form to help prepare both you and your client before each session. Clients and coaches that use planning forms receive more value from coaching with you, because it maximizes your time together. So, encourage and reinforce that clients use a Planning Form prior to each call. This also prevents them from getting too side-tracked, and keeps them focused on what is most important.

Stay on track with your clients, stay focused and organized and your clients will “see” the results and benefits from coaching with you. Create your own planning form for your clients based on these questions. You can type them out in a simple word processor (like Microsoft® Word), customize it at the top with your header/contact information and send it to your clients. Make it available on your website too. Request that your clients eMail the completed form to you 12-24 hours prior to their next session! You can see a sample Coaching and Client Planning Form on the next page.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #27

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Know When & How To FIRE A Coaching Client

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

If you do an outstanding job on qualifying your clients, then you will likely never have to FIRE a client. As a coach, it is important to know when and how to fire a client when the situation, if ever, presents itself. How do you know WHEN to fire a client? 

☑ When a client repeatedly “no shows” or cancels at the last minute (more than once). After the second time advise them, and after a third time promise to terminate your agreement with them if they cancel/no show one more time. This is only if they have no showed or canceled more than three times within a three-month period. Make sure your “Terms & Conditions” cleary states this policy.

☑ They are consistently NOT following through on their action items. After your fourth call, perform an evaluation on the progress you’ve made with your client. If you notice they haven’t followed through on any of the action items, and have made zero progress, then explain to them that they have two more calls to make some progress or you must end the coaching. It’s not fair to them to continue to coach/charge them, and it’s not fair to you to continue to give advice that is not being acted upon. 

☑ They are resistant to coaching. You might get a client that is a “help rejecting complainer,” and in that case you will want to immediately terminate coaching, because they will not benefit from it, and you will be wasting your time. These are the “yeah, but …” clients. Every suggestion you offer they respond with “yeah, but ...”

☑ They are stuck in the past, and won’t stop sharing past hurts and wounds. Remember, coaching is not therapy. We do not go into the past and analyze. We start in the present and go forward!

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #28

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Finding & Attracting Your Ideal Coaching Client

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

In previous sections, you were introduced to using coaching contracts, agreements, worksheets and various coaching forms, and how to pick the ideal coaching session format for you and your client to maximize your time working together. Now, you’re ready to find your ideal client. Here are a number of insightful strategies and nuggets of wisdom when it comes to finding your ideal client for your coaching talents.

CREATE YOUR IDEAL
 CLIENT PROFILE

THIS IS WHO YOU’RE AFTER!

To find your ideal client, first create the profile of the perfect client for your coaching niche.

❏ First and foremost, stop thinking you can help everyone. Rich Coaches drill down for oil and riches (into their ideal target market). They’re selective on where they drill, how far down they drill, and to specific locations under the soil (where their target markets congregate). Broke Coaches do the opposite. They spread themselves too thin above the surface, wanting to help everyone, talking to everyone (they hope) will become a client after a short discussion about what coaching is, and yet go home frustrated and empty handed. 

❏ The secret with coaching and scoring clients is to BE HIGHLY SELECTIVE! Some people want help, some don’t. Some want it, but don’t want to do the work you give them / required to go the distance to make lasting change. Let those folks go. They’re either not ready for you (yet), or they never will be. Find people who WANT help and are willing to do whatever it takes. What those people are only missing is YOU; a guide, a teacher; a virtual partner, ... a coach! 

❏ Look for people who are motivated from within to improve their lives, their career, their situation, but struggle with the “how!”

WHO IS YOUR IDEAL CLIENT?

Answer these questions, and be as specific as possible. Try not to generalize or cast a wide net. Hone in, focus, and remember you’re creating your ideal client profile. If your answers lean towards a broader market, answer, or response, again drill down into a small section of the proposed ideal client / target market. For example, “retired men and women,” might become, “retired men” or just “retired women.” You can always move on to profit off a second niche group of ideal clients, but only after you’ve served one with all your focused time and effort.

☑ What’s the age range of your ideal client?  

☑ Are they male or female?  

☑ Students? Working? Retired?

☑ What do they want?

☑ List 5-10 reasons they want what they want?

☑ List 5-10 reasons why they struggle with that which they’re after.   

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #29

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Why Can’t You Help Everyone?

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Can a plumber help someone locked out of their house, or is that the job of a locksmith? Should a golfing coach give advice to a baseball player? Should a divorce lawyer help answer questions about buying a new home? The point is, no one can help everyone. So, everyone specializes.

Of course, as coaches, we care about everyone, and want everyone to win. It’s easy to want all that for people. Unfortunately, the bank doesn’t accept our wants and love as legal tender to deposit into our bank accounts. Love is a feeling, something inside each of us, that motivates us to do something to help others in a specific way.

The secret Rich Coaches know is to turn that love/motivation for helping people into a specialized coaching niche, focused on helping specific individuals with what they know. They let other coaches help others in areas they cannot.

So, save your time, energy, and money looking to help everyone. Instead, SPECIALIZE. Take your ideal client profile and go where they hang out, meet-up, congregate, and socialize. Your first client is most likely ALREADY looking for you. Stay positive. You’ll find them by going to them!

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #30

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Create Your Package(S): This Is What You’re Selling!

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Now, you’ve already read about creating attractive packages in the previous chapter (#2). So, based on your ideal client profile, create one very simple, yet converting, coaching client package that you can pitch all day long to your ideal client market.

Packages should focus on the ideal client, and how you can help them. Hook them with stories about problems your ideal clients can relate to. Draw them in with setbacks, time-wasting episodes, lost time/money/energy, in addition to the gains and feelings of victory, triumph and success you’ve brought to others.

Focus on selling just one ideal client package until you’ve mastered your pitch, honed your responses to questions you’re asked, and perfected a few promotional techniques that really reel in the prospects. Once you’ve scored a number of new clients, go after a few more in that very niche, and start collecting testimonials.

After you’ve been successful with one ideal client profile, you can either branch out a little or keep on doing what you’re doing. This is the “KEEP DRILLING WHERE THE OIL IS” technique, versus up rooting all your drilling equipment, only to try drilling someplace else. Don’t waste your time, energy and money going elsewhere when you haven’t drilled that oil well dry quite yet.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #31

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Where Are Your Target Market Clients Congregating?

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Who is your target market? Older, younger, men, female, working, retired, business owners, those looking for jobs, those wanting to start businesses, those who are health-conscious? Based on “WHO” (your ideal client is), find the “WHERE” (do they hang out), and ... “GET THERE!” 

This is going to be a research project for you do. Wherever they are, there’s bound to be even more (potential clients) hanging around for the picking. Whatever your coaching niche is, find groups, companies, associations, clubs, organizations, and the like where your ideal client(s) flock together, socialize, and hangout.

They could also be subscribers to a particular eZine or online newsletter. They might like reading certain blogs, or visiting certain websites. What do they read? Are there publications you can speak/write for to reach your target audience? Maybe even get interviewed by those publications? 

Search forums, discussion boards and Facebook (and other) groups related to your coaching niche. Who’s talking within your niche? Who’s crying out for help? Answer a question, and you just might find a client, or someone reading your answers days, weeks, months, even years later might stumble upon you and call you up because they really need to talk to someone and you’re it! 

Searching locally (where you live) for clients could offer you a great source of client leads. You know the area, people can easily meet with you, that creates faster bonds than someone talking to you over the telephone or computer. There might not be anyone with your coaching niche/expertise in your local area for miles, maybe hundreds. That’s a pretty wide net region to search for potential clients right in your backyard. Most of your speaking engagements might be local too. The same goes for networking. Use all these opportunities to help build your brand, introduce YOU to the world, and make people say, “Wow, what an active, friendly, exciting, and popular person he/she is. I think she’s just the right person to help me with what I need help with.” 

Let’s talk numbers for a minute. Think about it, if you were surrounded by a population that runs as high as 25,000, on up to 2,500,000, and all you needed was 50 clients per year x $500 (average coaching package) to make $25,000, don’t you think the odds might be in your favor of finding just 50 people out of 25,000 or 2.5M? How about 100 people to purchase your (lower cost) online group coaching program that costs $297, for an extra $29,700? Then, how about 250 people (5.2 sales per week) to purchase your self-coaching online program that costs $97, for an extra $24,250 in your bank account? In total, if you hustled, and scored anywhere close to numbers like these, your annual income might look like $78,950 or $6,579.16 per month. NOT BAD!

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #32

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

How Do You Find Your “Ideal Client?”

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

THIS IS HOW YOU’LL
PRESENT 
YOUR PACKAGE
TO YOUR IDEAL CLIENT

MAKE A POSITIVELY POWERFUL & EVER-LASTING FIRST IMPRESSION: In sales, nothing matters more than your prospect’s first impression. Meeting someone in person? How do you look? Sharply dressed? Dressed for your niche? Are your words well-rehearsed? Do you know what you're going to say? Don't unimpress them by saying the wrong thing or not much at all. Are you prepared? Work on making GREAT first impressions! 

❏ Be who/what your clients want to become/achieve themselves. Walk the talk, be the end-result of your own advice. You can imagine saying, “Do you want what I have? Hire me as your coach and I’ll get you there.”

❏ Focus, aim, fire, bull’s-eye! When you’re general, broad-minded, wide-drilling, you miss real targets because you’re too far spread out, wasting time on the wrong pool of prospects.   When YOU focus, you find clients who are ALSO focused. Imagine, you’re in a band. You want to play in front of a crowded stadium filled with ticket-purchasing fans! Whoops, I gave it away ... FANS! People who love your music will pay to see you perform. Would you pitch to people who don’t like your music? No! Would you pitch to your fan base who know (and like) you, or fans from complimentary bands as well? ABSOLUTELY! The same goes for finding coaching clients. Pitch in markets that already know your topic. They just don’t know YOU yet! 

❏ We should constantly be around our target market, as coaches. These fish are just looking for our bait (i.e., solutions to their problems), to be reeled into our boats (i.e., invited onto a free coaching session with us), then taken home for dinner (i.e., you just scored a paying client). Why are YOU hiding at home, or not on the phone, or not online, or not getting interviewed, or not speaking somewhere? Get out there. Be seen, be heard, be hired, be coaching!

❏ Once you find where your ideal clients are, or have some idea, you have a few options on how to get in front of them. Getting in front of them, with the help of someone who has influence over that audience, group or gathering of people also has its advantages. Whatever it takes to help break the ice, here are several ways to get in front of and attract your ideal client:

[QUICK NOTE: FOR DETAILS ON HOW TO MAXIMIZE THE FOLLOWING MARKETING TACTICS, AND OTHERS, PLEASE REFER TO THE UPCOMING MARKETING CHAPTER (#5). FOR THE PURPOSE OF THIS SECTION, THE FOLLOWING IS JUST A QUICK LIST OF THE TOP MARKETING TACTICS TO USE TO GET IN FRONT OF YOUR IDEAL CLIENT.]

❏ ASK & YOU SHALL RECEIVE ... Ask your current clients, customers, friends and colleagues to refer clients to you in exchange for a referral fee if those clients sign up to coach with you. Money motivates, and now that you can help your referral agents specifically target the right individuals without being vague or general, then they have a greater chance to refer you some new business.

❏ GET INTERVIEWED ... You can get interviewed by almost anybody these days, which is a good thing, because that just guarantees you can be in front of thousands of new prospects every week/month. The great thing about getting interviewed is that it’s an opportunity for you to boost your credibility in front of others, you can role play on air about how coaching works and what you can do for your clients, your name gets out there, you can make frequent recommendations for folks to visit your website and download a free report or sign up to win a free coaching session, etc. So, get ready to be interviewed soon to find your ideal client. 

❏ NETWORK AT ALL TYPES OF EVENTS ... Go to where your potential clients network, hangout and socialize. Seminars, workshops, classes, networking events, etc. Be there, or be square!

❏ GIVE YOUR OWN PRESENTATION / WORKSHOP ... Find places to give in-person, live talks, speeches, create your own workshop, and presentations about what you do, problems people have (in your niche) and how you can role play with the audience to show them how your services can help them with what they struggle with. 

❏ CREATE A FAN PAGE / START A GROUP ON FACEBOOK ... Who isn’t on Facebook these days? Don’t overlook going where a huge number of people are and creating a fan page for what you do and a group on Facebook. You can post success stories, pose questions, quizzes and mini-assessment forms for visitors to fill in voluntarily and submit their answers to you for a group reading of what the group is struggling with. Who knows who might reach out to you privately for coaching or who’ll jump at the chance to take advantage of your monthly specials.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #33

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

“Marketing” Doesn’t Help You Find Clients ... “Archaeology” Does!

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

EMOTIONAL EXCAVATION
& Finding The “3 Ps” ...
PAIN, PROBLEM & PASSION

(“E.E.”) EMOTIONAL EXCAVATING

As you know, coaching is an emotional occupation for the most part, as you’re coaching people on emotional levels to get them to think outside the box, take (safe) risks towards accomplishing their goals, working on setbacks, and motivating them to overcome obstacles, etc. Knowing this, keep your conversation constantly in “excavation mode,” digging for one of the THREE Ps (Pain, problem or passion) potential clients are struggling with or want to improve upon.

Listening and asking questions (more than you doing the talking) are your digging tools to unearthing buried treasures, gems, and artifacts of the heart, mind and soul out of your client. Then, as you share these discoveries back at them, you both have something to work on together.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #34

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

What To Say When SOMEONE ASKS YOU, “What Do You Do?”

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

What you say to them is important, because you’re not there to tell them how great you are, or about your successes with past clients, even though that sounds great to you. Instead, as a coach, you’re also an archaeologist digging for clues about where the potential client’s pain is. Every minute counts. Sure, spend 30-60 seconds on yourself, “I am a (niche) coach that helps people (action/results/benefit to the client), but what I’m always on the look out for is people who I can help. They spend so much time wasting time, money and energy _________. There’s no need for that. That’s what I do. Who do you know that fits that description, or am I talking to just that person?” Whatever their pain is, that’s their HOT BUTTON and YOURS for hiring you as their coach.

When you’re out networking, socializing, or meeting anyone new you are going to get asked this question. Be prepared with a short answer so that others will instantly understand what you are about, and how you can help them. Your “elevator speech” should evoke the type of response like, “Tell me more” or “Give me your card. I have someone I want you to talk to.” This is the first step to generating a referral effortlessly every time you say, “Hello.”

Just as you prepared your ideal client profile statement, one of the best ways to answer, “What do you do?” is to reply with a fact-filled question in return such as: Someone asks you the million-dollar question: “Hi, what do you do?”

THE COACH: “Well, you know how so many people today (e.g., suffer from _________; are always looking for _________; need help in _________, etc.), but don’t always know who or where to turn to for help?

PERSON who asked the million-dollar question: “Yes?”

YOU/THE COACH: “Well, I’m the person they turn to. When people need help (here/there/with this/that) … they call me and I help them. Do you know anyone who fits that description?”

PERSON who asked the million-dollar question: “Wow, I can think of three people right now who need your help! They _____________.” Or, “Wow, where do I sign up, I’ve been looking for someone like you! How much do you charge?” (And, then, never talk about price up front. Stick to your services and benefits and how you can help them. The money always gets discussed last.)

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #35

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Focus On Selling “Client Transformation” or “Bridging The Gap” More Than Anything Else!

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

In the sense that you’re promoting what you do, when it comes to pricing and selling your coaching products and services, keep this in mind: Focus on selling the “transformation” or “bridging the gap” element (i.e., end-benefit / end-result / ultimate gain) of working with you!

For example, when you take your clients from their current state of “hurt / loss / pain / etc.” to a state of “victory / profit / joy / health / success / etc.”, THAT’S worth its weight in GOLD and people should pay for that.

Don’t charge just to cover your time creating products or your time coaching. Instead, put more value into the feeling, state of mind, goal and/or desired sensation your client wishes to achieve when you help them cross over from that point of pain / hurt / loss to a position of strength / victory / success.

People are paying you for RESULTS; not for the time you put into helping them or all the years you spent training to get (you) to this point in your coaching career, necessarily. Clients pay for RESULTS. That’s what they want. What are those RESULTS worth to them? More than you’re probably charging them! List all the benefits/results “in detail” (in your sales copy) and charge for the RESULTS you deliver; not so much the “process” to achieve them.

Think about this for second, why do some restaurants charge $100 a plate while others charge only $10. What’s the $100 plate customer looking for that makes them comfortable paying that price? The atmosphere? The experience? It surely isn’t that $100 chicken breast and side of whatever. Think about your coaching experience in a similar manner.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #36

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Closing A New Client Is About Enrolling Them, Not Selling Them

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Real quick, here’s a fast comparison lesson in selling pricey experiences! You know how famous rock stars, artists and entertainers enroll their fans into buying $1,000 front row seats at their concert? They know no matter how high the price of tickets go, some fans know the EXPERIENCE will be worth the investment, and their lives will be that much better having the experience seeing their favorite band live like that. The same goes with coaching.

Instead, we want to work with those who are motivated, eager, and trusting that working with you, the coach, is the answer to their pain/problem/passion. Only after sampling your products, listening to mock coaching sessions, filling out a self-assessment form questionnaire, participating in a free coaching session, are they warmed up to actually enroll themselves right into coaching with you without any selling required! 

Having just learned about selling the transition, experience, destination, or what clients get out of coaching with you, the next best thing you can do is to get your ideal client on the telephone with you or meet them in person, whether you’re networking, speaking, etc. This is so you can find out first-hand if you can help them by asking them questions based on their filling out a self-assessment form / questionnaire prior.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #37

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

How Do You Get Your Ideal Client To Hire You For Coaching?

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

HOW DO YOU KNOW THEY’RE READY?

❏ Create your own self-assessment form or questionnaire that includes several questions about their current status, what they’re into, up to, after, etc. Then, discuss topics of motivation, interest and desire. How motivated are they to go after what they see in their mind and feel in their heart? What are they willing to do to succeed? Their response should indicate what kind of client they’d likely be for you as their coach.

❏ Offer a FREE Coaching Session invitation, which you can promote anywhere, via ads online, offline and on social network websites like Facebook, LinkedIn and others. These free sessions are meant to get clients engaged in their own journey to accomplishing their goal(s) and to EXPERIENCE coaching with you.

Enroll Qualified Clients
Without Giving Away
Billable Coaching Time

How would you like to learn how NOT to lose $20,000 in your first year of coaching, or any year for that matter, but how to make potentially $20,000 a year in coaching, in addition to all the other extra income opportunities you will be faced with as a Rich Coach in your field? 

Should you give away free coaching sessions? That is the question. The answer is found in these scenarios:

SCENARIO #1

Let’s say that you gave away 200 free coaching sessions your first year from which none of them went on to purchase your services. Perhaps one-third of them decided coaching wasn’t for them. One-third decided they couldn’t afford your services. The other third got what they needed on the free call.

Lets put a value on this. Your hourly rate was valued at $100 per hour, and each complimentary coaching session is 30-45 minutes not counting any prep time, or some calls going over the standard 30 minutes. 

Now this might be an extreme scenario, but let’s do the math ... 200 potential clients whom did not choose your services X $100 per hour = $20,000 you lost in potential revenue. OUCH! That hurts!

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #38

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

What Should Your Coaching Format Be When Offering Free Coaching Sessions?

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

FREE SESSIONS FORMAT

Many coaches who offer free sessions to get the ball rolling with clients, know free sessions can turn into paid sessions if everything goes great. Well, to ensure things do go well, here are some great tips and a very artful strategy on how to conduct and use free sessions to enroll potential clients into paid sessions.

NOTE: it goes without saying, you should have sent your free session prospect an intake form and/or self-assessment form or questionnaire. The prospect needs to complete (one or more) of these prior to a free coaching call with you. The information on the form will be used on the call for enrollment into a paid session. Without this information, you risk wasting your time. There are several formats for conducting free sessions. This is just one of them. What works for some, might not always work for others.

When offering a free coaching session to anyone, consider the 20/20/20 FREE COACHING CALL SESSION format! Check this out ...

20 / 20 / 20

(YES+PAIN SEGMENT)

The first 20 minutes consists of asking them questions about the responses they filled in on their intake form, self-assessment form and/or questionnaire. Your asking questions should be in the form to where the prospect responds with “Yes” a majority of the time. “So, you say here on your self-assessment, that you are _____.” (Yes) “Where you talk about _____, is that true?” (Yes) ... etc. Build up the “Yeses!”

The first 20 minutes also consists of discussing their pain, problem or passion, which you deduced from their self-assessment forms. Get them to talk about what is their pain. This is the “YES / PAIN” segment of the call.

YOU/COACH: “Hey ____ (client name), welcome to coaching with me. I have a few questions I’d like to ask you to get the ball rolling based on the questionnaire you filled out. Do I have your permission to ask you about those questions?"

FUTURE (PAYING) CLIENT: “Yes.”

YOU/COACH: “Great. Also, because this is your first session with me, a free session no less, we need to treat this like a paid session. In that, we both make the most of our time together. When I ask a question, answer it with as much clarity and heart as you can so I know exactly where you’re coming from and if coaching is what you need to help you reach the goals you shared with me on your self-assessment. Sound good?

FUTURE (PAYING) CLIENT: “Yeah!”

YOU/COACH: Also, my free sessions are segmented into three 20-minute blocks. Each block has it’s purpose, and I’ll be making sure we achieve the goals set out for each block. Okay? Alright, let’s get started. First tell me (in a few words) why you chose to accept this free coaching session with me.”

Real quick, in 1-2 minutes, get the client to give you a little insight as to what their motivation was (related to their pain/problem/passion) to spend a little time with you, and why they took you up on your offer for a free coaching session. Listen closely to their response and reasons. What they say just might be the ammunition you need later to enroll them into working with you as a paid client beyond the free session.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #39

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

Overcoming Objections, Answering Questions, Follow-Up & Closing New Clients

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Objections, Excuses & Avoidances

Anytime someone’s at the crossroads of making a decision, there are several factors going through their mind. It’s natural for potential clients and customers to want to know more about something before they buy. Being able to answer and anticipate their questions is part of the selling process.

Knowing as many possible objections, questions and hesitations that might come up when selling your coaching products and services will certainly help you score more yeses than noes. So, let’s take a look at what your client might be thinking when you ask them the magical question, “Are you ready to sign up for coaching?” or the more personal approach, “Would you like me to be your coach?”

Why do you have to even
ASK if they want to sign
up in the first place?

I’m kidding, but not really. Why DO YOU have to ask them? Do rock stars really have to ask/convince their fans to buy tickets for their shows? Or, are their fans just so terribly excited to take part in the experience of what they get out of going to a concert that shows sell out in hours not weeks or months? 

Your client should be so excited to work with you, excited at what they’ll gain, excited about crossing that finish line with your help, that asking the question “Would you like to sign up for coaching?” is more a formality (or bridge to the next phase of working with a client) than a necessity.

YOU/COACH: “So, would you like to work with me to help you _______________? 

CLIENT: “Absolutely! I’m anxious to get started. You don’t even have to ask?”

So, what really is behind most objections?

FEAR OF CHANGE

Fear of change is probably the number one reason why clients toss up most objections. Living their status quo may not be what they want, but it certainly feels safer than to take a chance on making the kind of (real) change needed to live a better life or improve their business, etc. 

Further, the bigger the change, the bigger the fear. In order to get the client past the objection phase and into the acceptance phase, the coach needs to help his client overcome their fear. The best method is to present an offer so attractive that the prospect’s fear of missing out becomes greater than their fear of change and leaving their status quo behind. 

Now, there are different types and origins of fear. The type of fear your client might feel is typically determined by certain past experiences. How you present your offer can also have a significant impact as well on their fear. When an objection arises, it’s your job to identify the type of fear that’s holding the client back. Once you do, you’ll know better how to ease that fear and create a sale for one of your coaching programs.

For example, a client who’s had a negative buying experience in the past, either with another coach or even just a product, is likely to feel fear of being sold another bad deal. Whether the experience was with the product itself, or the sales person, this client will probably ask a lot of questions about whether your coaching products or services will actually work for them as you say they will. 

If you see these signs, embrace them! Consider asking a few questions about their past buying experiences. Maybe they’ll offer up some insight as to their buying history. 

People also fear making a mistake. We’ve all bought something that turned out to be a bad purchase. So, the tendency towards caution (“don’t buy that”) is a natural one.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #40

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

“Top 10” Objections: What They Mean & Suggested Replies

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

WHAT THEY MEAN &
MY SUGGESTED REPLIES

While a client’s objection matters, what matters more is the emotion or reasoning that influenced their decision to come up with it. What we want to find out most is what triggered their response. Figure out the trigger and you’ve possibly found the root of why your client isn’t jumping on board with coaching right then and there.

Here are the TOP 10 OBJECTIONS clients come up with and why they would be hesitant to sign up for coaching services. If you can spot which one the client is hung up on, you can address it specifically, possibly overcome it, and hopefully sign them up for coaching! In no special order, here they are:

OBJECTION / EXCUSE #1

THE PRICE OR MONEY

“I don’t have the money right now.”

WHAT THIS MEANS: This type of excuse could mean a few things. (1) They really don’t have the money to begin with, and they were just taking advantage of your free session in hopes of learning something that can only be learned over time (with your coaching packages). Or, (2) they have the money (or can get it), but they just don’t want to part with it, because you didn’t convince them enough of the value in what you bring to their life/business with your coaching services.

SUGGESTED RESPONSE: Don’t focus on the money. The money is never the issue. If a customer/client wants something bad enough, even if they DON’T have the money, they’ll find a way to get it if they have to borrow it, finance it, or even steal it. Your job here is to ask them, “If money weren’t an object, would you move forward with coaching? Think big right now. Imagine your life with coaching, and then without coaching. Which would you rather have? (CLIENT: “Better life (with coaching).”) Great, then what’s really stopping you from moving forward with coaching. Be specific.“ Further, calculate what the client’s time is worth, past, present and future when they waste it spinning their wheels, missing out on ____, working alone trying to accomplish their goal on their own, wasted time/energy/effort/money, and reply with, “I’ve estimated a total loss of $25,000 because _________. Compared to what my coaching fees are, wow, are you telling me you’d rather choose the loss than the gain?” The idea here is to get the client to be specific about why money is an issue, get them to admit if money wasn’t an issue, they’d go forward with coaching, and to logically illustrate their loss compared to their gain by choosing to be coached by you. IF money is a real burden, consider discussing payment options, or coaching fewer hours at a reduced rate. Don’t lower your value, because the client can’t meet you where you’re at. Offer a smaller piece of the coaching pie for a smaller price.

OBJECTION / EXCUSE #2

I NEED TO THINK ABOUT IT

“I can't decide right now."

WHAT THIS MEANS: Clarity is key when it comes to selling anything to anybody. This objection either means you weren’t clear in your presentation of what you offer, or what you’re selling them doesn’t fit their needs or wants and the client just needs some time to think about your offer. 

SUGGESTED RESPONSE: “Great, is there a question I can answer before you take the time you need to think about coaching with me?” Get the client to open up. Then, based on their response, you’ll know which question to ask. It might be the beginning of another objection in this list of ten. So, keep reading!

OBJECTION / EXCUSE #3

I NEED APPROVAL

“I have to check with someone about this.”

WHAT THIS MEANS: Typically, if someone relies on or checks in with someone regarding financial decisions that might affect a shared budget, like the purchasing of an expensive coaching program, there’s nothing wrong with respecting that, and giving them that time to “check in” and “check back.” If they make a statement like this, you could easily follow up with a simple response such as ... 

SUGGESTED RESPONSE: “Great, I respect that. I have the same policy with my wife. [FOR EXAMPLE]. Let’s assume they were to give their blessing, because they know how much this means to you, when would you like to start coaching?” Another response might be, “When you speak to this person, be sure to bring up how important this is to you. Perhaps, each year or every so often, one of you wishes to invest in themselves in a way the other might not understand completely, but should be allowed to make such an investment, because of how it might yield a return for you and the person you have to check in with. My wife and I do that. [FOR EXAMPLE] Each year, we allow each other a certain amount of money each that we can spend for our own needs with the full support of the other person.” The goal here is to get the client to be thinking about going forward, and giving them some advice on how to approach the person they might need their blessing with to make such a purchase as personal coaching.

OBJECTION / EXCUSE #4

THE URGENCY IS NOT THERE

“This isn’t really important to me right now.“

WHAT THIS MEANS: Wow, you just spent an hour with them on the phone discussing their situation, desires, wants and needs, and they must have spent at least an hour or more filling in the self-assessment form or questionnaire, what’s really on their mind? Probably, what’s on their mind is you didn’t impress them enough for them to see how worthy it IS to MAKE the time. Think about it. If you did make a positive impression, and money wasn’t an issue, and they didn’t need more information, and they didn’t need to check in with someone, why spend all that time prior to and on the phone with you? Could it be just a nice way of saying, “I really don’t want to work with YOU. That’s the real reason I’m declining your coaching services.” Granted, if they see how much commitment is involved and they really don’t have the kind of time required to coach with you, then hey, you can respect that response. Otherwise, probe deeper. 

SUGGESTED RESPONSE: “Okay, why so?” Keep your response brief, and return a question right back at them to open up. If they don’t open up, you don’t have to prod any more. You might ask one more question, “I heard you talk about your desire to _________ (reach a certain goal or achieve xyz). Why the change of heart?” “How long have you been putting this off? How much time/energy/effort/money have you spent or will continue to spend before you reach/accomplish ________?” Listen to their response, and respond accordingly.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #41

CHAPTER 3 — FINDING & WORKING WITH CLIENTS

More Tips On Handling Objections & Excuses

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

In many of these situations, if the client must go away for a period to think about it, check in with someone else about monies, the timing’s not right, the urgency’s not really there, etc., that’s fine. You still have options. They are: 

❏ Let them go completely! Hey, if you feel this potential client might become more of a potential drain on your time and energy, despite the money, let them go.

❏ Give them a time limit to get back to you. Like a good salesperson, who says, “We only have one more in that color left. I’ll hold it for you for 24 hours. Please get back to me if you want it.” The customer knows, if they DON’T get back within 24 hours, that product and even price are G.O.N.E. Customers need prodding like that. They need “take away” incentives in order to take action. Remember, you’re working with someone on an emotional level when it comes to making a buying decision. The same goes with selling coaching products and services. Sure, enrolling is the term we used earlier, but at the end of the day, it’s still a transaction of equal exchange. You give them your time and expertise in exchange for their money. Business is business.

❏ You can counter their objection(s) to your coaching package or standard offer of services with a different offer consisting of a combination of new services. 

❏ Keep in touch with them if you have to let them go. You never know if they decide weeks, months, even years later, to hire you as their coach. Keep them on your eMail list, until they unsubscribe themselves.

❏ Clients want things to be simple, and they want them to be easy. They need simple systems that focuses their time and energy on the easiest methods (relying on your expert help) to ultimately accomplish their goals. Make sure your coaching packages are simple in design, title, description and the outcomes are stated clearly for a client to respond with, “Yes, that’s what I want. I can read it. I can picture it. I want it!” 

❏ For the most part, most people who toss up excuses either really DO want to take the plunge (with you), and they’re just scared, or they really don’t want to do it and they’re just fishing for an excuse that sounds good. Go easy on yourself, and don’t stress that they do or don’t sign up to work with you. Here’s why: “If you have to drag them to the starting line, chances are, you’re going to have to drag them to the finish line.” Well, Forget that! Don’t work with people who aren’t as committed to their own success like you are for them. That’s a losing client, and just might cause you to firing them anyway. Save your time, energy and having to refund monies to a disgruntled client. Go after those who want to work with you. 

❏ It goes without saying, every chance you get to respond to an objection is your chance to learn how to better improve how you deliver your own (free and paid) coaching sessions, explain your services, and communicate the benefits of what you offer clients. We crawl before we walk, and walk before we can run. With time, no doubt, you’ll get better and better at (1) minimizing objections, and (2) improving your delivery of what you can do for your coaching clients.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #42

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Marketing Tactics For Coaches

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

What’s the old saying about marketing that ensures a constant flow of coaching clients into your free/paid coaching sessions and to your website buying your products? A.B.M.? “ALWAYS BE MARKETING?” So true. Well, in this chapter, you’ll get exposed to a lot of great marketing tactics just for coaches. Sure, other businesses might use them, but these have been tailored just for coaches.

Why do so many coaches seem to really struggle with marketing their business? Is it because they think marketing is like selling? Or, maybe they think marketing is an activity that interrupts people’s daily lives and they feel guilty about pushing their coaching services onto almost any crowd like that?

Well, nothing could be farther from the truth. Sharing what you love to do is never an interruption to someone who is interested in hearing your story, can use your services, or someone who knows people who can. On that note, let’s look at marketing as “sharing” the “good news” about how you can “help people!” In fact, it was laid out in a previous chapter inside Rich Coach Broke Coach as to what marketing (to find your ideal clients) really consists of, which is R.A.S.T.O., which means:

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #43

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

The “Marketing & Selling” Mindset FOR COACHES

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Exposure = Leads = Sales

Remember IT! Live It!

What’s the old saying about marketing that ensures a constant flow of coaching clients into your free/paid coaching sessions and to your website buying your products? A.B.M.? “ALWAYS BE MARKETING?” So true.

Well, in CHAPTER 5: MARKETING TACTICS FOR ALL COACHES, you’ll get exposed to a lot of great marketing tactics just for coaches. Sure, other businesses might use them, but these have been tailored just for coaches.

On the contrary, the more leads you have, the more people you have bidding for your coaching services and attention. Let’s take a look at this EXPOSURE = LEADS = SALES concept in the following graph you see on the opposite page to drive home this point more clearly. 

When you think about making more money as a coach, whether you make it from selling group coaching programs, one-on-one coaching packages and/or products, the more exposure your coaching business has (online and offline), the more leads you’ll have to convert into sales for more income!

EXPOSURE = LEADS = SALES by Bart Smith, Author of Rich Coach Broke Coach

How do you increase the exposure of your coaching products and service? Keep reading this chapter for marketing tips, tactics and ideas for starters. 

Another way to increase your exposure is to become a celebrity or a well known expert (or authority) in your circle of influence, clients, prospects and business associates. Start making it one of your marketing goals to get known, popular, talked about in circles of influence … just like a celebrity! 

Now, you’re not looking for special treatment, on the contrary, you’re looking to reach a high-profile status so that people know who you are the second they hear your name. 

When thousands, if not millions, of people know your name, know who you are, love talking about you, love referring people to you, want to meet you, hire you, etc., then, you’ve crossed the threshold into making more money and finding clients much easier. How does a coach become a celebrity in the eyes of others? Well, let’s review the homework ...

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #44

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

What SHOULD BE In Place ... “Before” You Start Marketing?

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

As the old saying goes, “Opportunity favors the prepared mind!” Well, where marketing is concerned, don’t let your efforts go to waste by not being prepared or having certain things in place. 

When you’re out networking and talking to people, and someone asks you what you do or for more information, or they’re ready to jump on board for a free session, or to give you money to get started coaching with you, are you fully PREPARED?

Well, here are a few things you might want to make sure you have in place before you launch out to market your coaching business, products and services: 

❏ I have identified my coaching niche and I’ve created my ideal client profile. Further, I have specific solutions outlined and detailed to help my ideal client profile.

❏ My coaching products, programs, packages and fees are designed, well-scripted, set and ready to go. 

❏ I have done my research and know where my target audience is and where they hang out. I know their wants/needs, where/why they struggle, and how I’m going to help them. 

❏ My website, and other sales literature, is in place and ready to go. 

❏ My coaching client forms, agreements, and worksheets are ready to go. 

❏ I have all my forms uploaded to my website for easy access by my clients. 

I have an FAQ on my website. 

My payment options and processing source(s) are in place (i.e., PayPal, Stripe, Venmo, CashApp, Merchant Account, etc.). I know how to charge credit cards and accept payments.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #45

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Website Design Tactics

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Something else to mention, before launching out with all these marketing tactics, is to check your website to be sure you have most, if not all, of these website design suggestions built into your website. How is your website designed? Is it ready for the onslaught of traffic you hope for? Let’s see.

Here are a number of items to check off, where your website is concerned, before heading after your ideal client. If you plan on driving traffic to your website to drum up leads, well, make sure your website has all of the following. In no special order, because they’re all pretty much recommended, here’s what you should have on your website ...

Clean, professional look. No boxed designs that date your site or makes your site look like it was built in the 90’s or early 2000’s. Choose a good looking, modern theme and build a professional looking site. You can learn how at BartSmith.com/training.

☑ Responsive website design for mobile phones, tablets and other portable devices. You'd be surprised how some websites still aren't mobile-friendly. Then, if they are, still they don't look good on the phone.

Easy navigation throughout your website. In the header, in the footer, in the sidebar. Make it easy for people to navigate your site.

Your phone number everywhere and on every page. Not your REAL phone number or your mobile number, but a Google Voice number, in particular. Have that number forward to a voice mail or to your cell phone, but know when it rings you know not to answer it, and let it go to voice mail. Place that number in the header and the footer of each page. You don’t have to answer it, again, no. Just let your calls go to voice mail. You’re busy. Having your phone number on your site distinguishes you from other sites who wish to remain in hiding. Not you. You’re a coach, approachable, and open to people contacting you.

Opt-in box to capture the name and eMail address of your visitors. This can be on the home page (up top), in the header, in the footer, down the page, etc.

Sample coaching sessions in audio and/or video format for your visitors to listen to and/or watch.

☑ Video message from you on your website. Why not officially greet your visitors with a video of you giving them an official welcome, and even a tour.

☑ Audio on your site ... You can record a welcome message, your blog articles, the About You page, etc. Let people hear you, not just see your or read about you. Your voice is what they’ll be hearing when they hear and read your coaching suggestions.

☑ Picture of you on the home page ... Is there one? Greet people with a smile and a warm photograph of you. While we’re at it, take lots of photos of you and scatter them around your site.

☑ Testimonials, success stories and case studies are always a plus to any coaching website.

☑ eZine/Newsletter sign-up opportunity so people can join your list, giving you the right to stay in front of them on a regular basis.

☑ Blog filled with articles that are not just in written format (by default), but also audio recorded. Sure, record your blog posts and allow people to listen to you speak what you wrote. It’s much more fun and it’s as if they’re at a mini-coaching session with you in this way.

Podcast shows posted either in your blog, or via post or some other format.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #46

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Build A FEW Websites To Promote Your Coaching Business Services/Products

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

When it comes to marketing your coaching business and making money, you definitely could benefit from having more than one website taking up real estate on the World Wide Web! Why have more than one website? For these special reasons: 

✦ MORE EXPOSURE – With more websites, you get more exposure for what you do as a coach.

✦ MORE CREDIBILITY – With more websites, people look at you differently and take you more seriously than someone with just one website. More can mean busy and in demand; whereas one website might signal small-time and always looking for clients. It’s a perception thing.

✦ MORE MARKETING OPPORTUNITIES – With more websites comes more ways to market what you do, what you sell, and how you make ...

✦ MORE MONEY – With more websites, you stand to make more money. Each website could be designed to bring in extra income in its own unique way.

If you can think of more reasons why you should have more websites, add them to the list.

What Types Of Websites
Should Coaches Also
Consider Building?

It makes sense to have different websites to effectively promote what you do as you expand your coaching business. You don’t have to build them all at once, but keeping them in mind as they come to you. At some point, building a second or a third website for a very specific reason will just make sense. So, here are at least 14 types of websites you might consider building: 

☑ Main Website – In the beginning, there was your first website. It had everything on it, from what you do, what you sell, about you, your press room, how to contact you, etc. This is your first and main (hub) website. Build this one first, naturally, and maintain it forever.

☑ eZine Subscription Website – This could be a simple landing page on its own domain name that talks about your eZine and how to subscribe.

☑ Video Website – This website acts like your own YouTube.com, but guess whose videos are all over it? YOURS! Go crazy and make 100+ video coaching messages and stick them all here.

☑ Book Selling Website – Did you write a book? Create a website on its own domain just to sell your book. Easier to promote and make sales.

☑ Seminar/Workshop Website – Do you conduct a popular workshop or seminar? Why not build a event focused website on its own domain? Product-Specific Website – These might also act similar to sales letter pages that discuss the benefits of just one product. One website / domain name per product being sold.

☑ Testimonial Website – This is what I call the “ILove[Coach’sName].com” website. Take all your testimonials, rave reviews, and case studies and place them on their own website.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #47

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Ask Campaign Marketing Tactics

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

What is an Ask Campaign? They’re a laser sharp marketing strategy used to find out what your clients really want to know and how you can help them. Simply, you allow them to ask you a question about a topic you are an expert in. After you collect 20-100 questions from your clients, you then proceed to answer the top 10-20 questions on a tele-seminar call with everyone listening in to you answering the top questions you picked to answer.

While some Ask Campaigns can be done by oneself, it’s often a good idea to have someone ask YOU the questions, while you answer them. If someone is available to help you in this role, great! If not, I believe in you! Put the Ask Campaign on all by yourself!

There are several reasons why you should start using Ask Campaigns to prospect for future clients, attract new ones and more.

☑ No More Guessing ... Can you read minds? Take the guess work out of finding out where clients are at with the problems they might be experiencing at this moment. When you let them ask you a question about a topic you’re an expert in, you find out what they’re thinking!

☑ Instant Content ... With Ask Campaigns, you don’t have to come up with content to conduct a tele-seminar, seminar or other event presentation. Simply allow your prospects to ask you a question, which relates to a topic you’re an expert in. Then, based on their questions, you create the content (for your tele-seminar, talk or other type of presentation) out of thin air by simply “answering their questions!” 

☑ Credibility Booster ... With everyone listening to you knock each question you answer out of the ballpark, your credibility is on the rise quickly with every question you answer. The more credible you sound, the more “in demand” your products and services can become and ultimately, the more money you can make. 

☑ New Product Material ... There are two ways you can generate new products out of an Ask Campaign. The first is to record the actual tele-seminar/webinar where you answered the top 10-20 questions asked by your prospects, clients and affiliates, and sell the recording to those who couldn’t make it onto the call. Charge them $5 to access the download for that call. One hundred people x $5 = $500. Not bad for answering questions in an hour. You could also create a product by taking the questions your clients asked and create a quality audio/video recording for sale.

☑ New Seminar/Workshop Material ... After conducting several Ask Campaigns, you might just have enough material to create a full-fledged training seminar, webinar or tele-seminar. Sure, the first tele-seminar you gave was made up from you answering the top 10-20 questions, but armed with those questions, you might elaborate on their answers in the form of a live training workshop, training event, boot camp, etc. 

☑ Coaching Program ... If so many people have the same question, you might create a specific coaching program to address their question, in particular. You could create a specific coaching program per question for the top 20 questions asked of you in an ask campaign. 

☑ New Client Prospects ... During an Ask Campaign, certain clients are going to stand out with really great questions. Approach them privately and ask them a question, “Would you interested in private coaching with me regarding x-topic?” 

So, you see, there are a number of benefits to running your Ask Campaigns. They help take the guess work out of finding out what’s on the minds of your prospects, clients and affiliates.

(THIS CONTINUES IN THE BOOK)

# # #

WOULD YOU LIKE TO:

RETURN TO THE:

WOULD YOU LIKE TO:

BOOK EXCERPT #48

CHAPTER 5 — MARKETING TACTICS FOR ALL COACHES

Celebrity Marketing Tactics

Rich Coach Broke Coach Excerpt
Copyright © 2024 by Bart Smith
Reprinted by Permission

Start making it one of “your marketing goals” to get known, popular, talked about in circles of influence just like ... a celebrity! You’re not looking for special treatment, on the contrary, you’re looking to reach a high-profile status so that people know who you are the second they hear your name. When (a lot of) people know your name, know who you are, love talking about you, love referring people to you, then, you’ve crossed the threshold into making more money and finding clients much easier than if … no one knew you. How do you become a celebrity in the eyes of others? Five quick ways:

#1) Network at seminars, business networking events, and get your face out there in front of people. Write them back after you meet them, so they REMEMBER YOU! Out of sight, out of mind. Network with big players in your industry or people who are close to the big players so they get to know your name. This is networking at its best. When the big boys and girls know who you are and they start spreading your name around and inviting you to their events as their guest and you meet as many people there as possible, and you keep popping up time and time again … I think you get the picture. You’re on your way (to becoming a semi-well-known celebrity).