DECEMBER 2003
IN THIS ISSUE.
1) MARKETING TIP - THE 6:3:1 FORMULA
2) COACHING TIP - THE IMPACT OF FEAR
3) NEW BOOK ANNOUNCEMENT- I AM FINISHED
4) LINK EXCHANGE
1)
THE
6:3:1 FORMULA
Here’s
a system for simple direct contact marketing that can help you fill your practice. Many years
of working with my own clients and other coaches have taught me
that on average, if you contact six qualified prospects - qualified by age (25-65 years old), income (>$45K/yr.) and
inclination (open to coaching) - at least three will agree
to a sample coaching session. And if you give three qualified
prospects a great sample coaching session, at least one
will become your client. This ratio gives us the name, 6-3-1
formula.
What
this means is that at the start of your practice, on average you
will need to contact six qualified prospects and offer them a
sample session, to obtain one client. This means three people will
refuse your offer of a sample session, and another two will take
your sample session but decline to work with you at this time.
I
have seen the 6:3:1 formula get great results for the coaches who
have diligently applied it. The formula helps them focus on the
key activities needed to get clients, and it really works. Some of
my clients average 1 new client a week just by working this
formula. And while there is a natural ebb and flow to clients that
directs us to talk in averages, I have seen coaches get ten new
clients in ten weeks on this system alone.
Typically
they start each week by identifying six qualified prospects. Then
they contact these individuals with an offer of a complimentary
session. Of the three who agree, at least one becomes a client.
This whole exercise takes the average coach about five hours to
complete. So if you can spare one hour of active marketing a day,
you will average one new client a week.
Notice, that even if you work the 6:3:1 successfully it still means you will need to continue to function with an initial rejection rate of five out of six. Simply know that this is the price you pay to live the life you want. And also know that the better you get at coaching, qualifying prospects, defining a niche, and refining your offer to the niche, these conversion rates move higher. Ultimately your ideal clients will be attracted to you.
In the meantime, don't forget to ask everyone for a referral.
2) NOTHING TO FEAR EXCEPT FEAR ITSELF - AND DON'T EVEN FEAR THAT
Coaching and fear do not mix well. When you are starting up a new coaching business, it is easy to sink into a shortage mentality. The fact of the matter is you may not have all the clients you want. Fear can extrapolate your current condition into some dire future consequence. Fear will exaggerate the challenges ahead and minimize your ability to grow, adapt, and overcome any situation. The impact of fear on your coaching is:
Fear is a normal part of the human experience. How you manage your fear will determine how much of your vital energy you can direct towards positive activities that will further your practice, and how much is wasted on compulsively negative thoughts.
If you notice your anxiety level is up, do something about it. Identify the main challenge you face and take some action. Also find your own way to lower the stress you might be experiencing. Go for a run or a good walk. Have a hot bath or listen to some relaxing music. Or develop your own reflective or mindfulness practice that helps train you to better manage your thoughts. (Check out www.how-to-meditate.org or Wherever You Go, There You Are .)
Managing fear is a long-term process. But the more attention you can channel away from imagining exaggerated negative futures, into productive present activities, the better coach you will be and the faster you will build your practice.
3) BOOK ANNOUNCEMENT
Thank you for all your encouragement. I have finished writing the Marketing Essentials For Coaches. It is just undergoing its final proofreading and I hope to be able to announce where you can get your copy ASAP.
4) GOT A WEB SITE? - BUILD YOUR LINKS
If you have a web site, you may already know that your search engine ranking is heavily influenced by the number of other web sites that have a link pointing to your site. (A link is just a URL. Mine is www.acoach4u.com.)
If you want to increase your site's ranking you should consider setting up a Links Page and trading links with other relevant sites. (Don't bother exchanging links with sites unrelated to your key word. In the rapidly changing world of search engines this may end up penalizing you.)
You can see how I set up my link page at http://www.acoach4u.com/links.htm. And make sure to have a link from your Home Page to your Link Page so the search engines can find it.
And if you want to exchange links with me, just follow the instructions you will find on my link page.
Coach with heart,
Steve
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Life Coach Steve Mitten B.ApSc, CPCC, MCC helps individuals and independent professionals evolve and make profoundly satisfying and successful changes.
Visit Steve at www.acoach4u.com