"The Secret to Building the Successful Coaching and Consulting Business That You've Always Dreamed About"
By David Frey
A few years ago I was visiting with a marketing executive friend of mine. I was excitedly telling him all about the new marketing course that I had just developed and how awesome it was. He patiently sat and listened to me.
He could see that I was really enthused about what I had just created. After I had finished my boasting and gloating he got up, and as he started to walk away he said, “That’s great David, now the real trick will be getting people to buy it.”
What is the Principle Objective of Your Coaching or Consulting Business?
My first reaction to his comment was, “What do you mean. Of course people are going to buy it. It’s the best work I’ve done to date.” But as I pondered for a moment about his comment I realized that I had fallen into the age-old deadly mistake that most service entrepreneurs fall prey to... ...forgetting the principle objective of my business.
My marketing friend subtly reminded me that my principal occupation is NOT marketing consulting; it’s the MARKETING of consulting services.
“Any Fool Can Make Soap, It Takes a Clever Man to Sell It”
There is an old advertising quote that says, “Any fool can make soap, it takes a clever man to sell it.” This is as true today as when it was first uttered many years ago. Any Tom, Dick, and Harry can make a bar of soap (or a hot tub or pool in your case).
In fact, Harry might make a soap so advanced that it is even self-rinsing! (By the way, there is a self-rinsing soap called the “Hand Sanitizer” made by Purell…it’s fantastic) But, even if it’s the most advanced soap on the planet earth, it won’t matter if no one buys it.
I hate to think of my masterful marketing course as just another piece of soap, but that’s exactly what it is. There’s a thousand great marketing courses out there…
…but it takes a clever man (or woman) to sell it!
Failing to understand (or accept) this principle is so poisonous that it can kill any coaching or consulting business fast. You see, to make coaching or consulting business successful, you need cash flow. To get cash flow you need clients. To get clients you must sell your coaching or consulting services.
You might be a coaching wizard or a crack consultant, but so are the fifty other coaches and consultants. No matter how great your technical skills are or how innovative your services are, your business will wither away and die like 80% of all coaching and consulting businesses if you can’t sell it.
"How Would You Do Things Differently If…"
Let’s suppose for a moment that you truly did internalize this critical principle. Suppose that you sincerely believed that your most important function was the marketing of your coaching or consulting business. What would you do differently tomorrow morning?
I would suggest that if you really believed deep down that your primary business objective (and number one goal) is to *market* your coaching or consulting business, your to-do list, the way you allocate your time, your role in your company, the hiring process, and your personal and employee training would be radically different than it is today.
High Value Activities
Now that you know what your primary business objective is, what are your going to do about it? In my prior life as a corporate consultant I was always sensitive to how much my company billed by clients for my time (it was a lot).
I often asked myself, “Am I adding value right now equal to the price my client is paying?” It helped me to prioritize my activities. I suggest that you make a habit of asking yourself that same question everyday.
Allow me to list out a few activities that I (and you should) consider “high value.”
Okay, that’s enough. Do you get the idea? Normally, your Director of Marketing would perform those activities. You must become the Director of Marketing! That should be your new role in your business. Why leave the absolute most critical part of your business to someone else?
Becoming a Master of Education-Based Marketing
If you were to ask me, “David, I only have $1,000 to market my services. Where should I spend this money to get the highest return on my investment?” My response would be to invest it on your personal education. Nothing will bring you a greater return on your marketing dollar than your personal investment in becoming a master of Education-Based Marketing.
I regularly spend thousands of dollars every year investing in books, tapes, CD’s, workshops, conferences, videos and every other form of educational medium. In fact, as I have interviewed many successful business people I have consistently found one common trait... ...each person had a passion and insatiable desire to learn and invest heavily in their own private education.
Conclusion
One of the worst mistakes you can make as a coach or consultant is to be fooled into thinking that you are in the business of delivering your services. Wrong! You’re in the business of MARKETING your services.
The faster you realize this, the faster the cash will flow. I’ve always said, good marketing can make up for a bundle of operational sins (just ask Microsoft). Marketing IS your business, not just part of it. Become an expert in Education-Based Marketing by investing heavily in your own education.
Reevaluate how you are managing your coaching or consulting business by asking yourself some of the questions that I’ve mentioned. What I’ve shared with you may require a new paradigm shift. But if you want to not only survive, but to thrive as a coach or consultant, you must make the shift.
A good start would be to review my, "Marketing Bootcamp for Coaches and Consultants." It's the only comprehensive Education-Based Marketing System for people just like you. It's designed specifically for coaches and consultants.
If you internalize this one secret that I've shared with you today you will be lights years ahead of your competition.
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© Copyright 2003 David
Frey, Marketing Best Practices Inc. |
