Coaching Success in January 2016 — Coaching/Consulting SWOTT Analysis
This is a key to getting bigger, better, and faster results early in 2016. If you answer these questions for both your business, and do that every time with each new client, not only will your business leap forward, but the results you deliver to your clients will as well.
SWOTT is Strength, Weakness, Opportunity, Threat, and Trends. By analyzing these things you will find the greatest ways to improve not only YOUR coaching/consulting business, but when used to analyze a client’s business will provide bigger, better, faster results for that client.
Albert Einstein said
You can’t keep doing the same things while expecting different results.
So, it’s time to analyze where your opportunities are to become better, what to change. SWOTT analysis will help you find those answers.
This being the beginning of your next year in business, it is time to identify:
- What result do you want changed?
- What HAS TO CHANGE in order to get different results?
If you don’t already know, let’s change your coaching business, your life, and your world now. Then we will also change your clients business, life, and world.
As you start working through these questions, create a spreadsheet with the questions, and your answers so that you can see, and seriously think through your answers, and then can go back and rethink. These answers are critical to your fast growth for early 2016.
And if you’d like to ask me questions, feel free to email me at firstname.lastname@example.org and I will help you move forward to higher success in coaching/consulting early in 2016.
This is a Different Approach to SWOTT Analysis, and Is Targeted for Coaching
You may notice that my SWOTT analysis is somewhat different from traditional SWOT analysis since I have added one more target to identify and change that wasn’t on a traditional SWOT analysis. The extra T represents identifying trends in your industry, in the economy, and frankly in your business or your client’s business that either is already an opportunity due to a trend that you might not have seen, or even a trend that has been negative that will give you an opportunity to change your client from having to constantly decline, instead you have him grow in a declining economy or industry.
- What advantages do you have that other coaches don’t
- What do you do better than anyone else?
- Among your competition, your type of coach, where do you stack up, #1, #10, #100, #1000?
This can be a difficult question if you try to position yourself worldwide. So stop for a minute and answer this question in a narrower manor.
- In your city
- Just in your type of coaching in city and state.
- Now, what advantage does the #1 competition deliver. Do you deliver that too, and how do you stack up for that?
- What personal resources and tools can you access that make you better?
- What do other people (downline or upline among your competitors) see as your strength.
- Which of your achievements are you most proud of (what awards have you earned, top sales, top in bringing in new business, customer service).
- What values do you believe in that others fail to exhibit?
- Are you part of a network of resources, and other coaches, that no one else is involved in? These are resources that you can share with clients to multiply their results in areas that you do not provide, gaps. What are those other strengths that you now can help your clients achieve that you could not before sharing these strengths.
- Are you associating with other coaches/consultants/trainers that deliver results that are 5 to 10 times more than any other coach? The more you associate with those that provide multiples better than you, the faster you will learn how to do that yourself, both for you and for you clients. Where can you find these? Add more if you are already doing it.
Going back to Advantages, what you do better than anyone else, and how do you stack up against the competition — I asked that question as the first step of a thought process. I wanted you to answer the question the way you would without my prompting to add the next steps in becoming better at coaching.
Most coaches/consultants answer these questions with either skills, features, experience and NOT with the two most important answers, RESULTS, and the VALUE of those results (a measurable level of result). Listing a strength with a skill, feature, experience you have, does NOT in any way list your real strength, which is the RESULTS, and the VALUE of THOSE RESULTS (how big, how much, how fast).
Your VALUE of RESULTS are your real strength since skills and experience, do not guarantee any form of measurable result.
So, go back to several of the previous answers, skills, features, experience, and even comparing you to your competition. Ask yourself what kind of measurable specific results you do deliver because of those skills, features, experience, credentials, certificates, etc. Even if you do have several results, that’s fine. Answer these in the order of your biggest strengths.
If you have already answered those questions with measurable results, congratulations, you are already understanding what your real strengths are.
Do not be modest or shy about your real results. This about divulging REAL MEASURABLE RESULTS, not turning them down to appear modest. If you have EVER delivered those measurable results to someone, you know have the knowledge and skills to do it again. One of the biggest obstacles to coaches getting a steady flow of new clients is that they are afraid to put measurable results in front of a new client. So, at least for this exercise, list real measurable results as your strength.
I have heard coaches answer the question, “How far can you take a client” with, “oh, about 10% further”. 10% is actually within the typical yearly, or even sometimes, monthly variation of people and businesses. So it ISN’T big enough to attract anyone, at least unless we are talking about 10% of a year’s gain in a month. Then it might actually be wanted by your prospect.
Think about your strengths in relation to others around you. If your measurable results are equal to others around you, then that ISN’T that much of an advantage. Yes, maybe you still can take your clients to places they haven’t been able to reach before you came along, and that is great. But we also want to know where you stand next to your competition.One is simply to understand what you bring to your clients, and the other is to identify what you SHOULD be providing and do you stand out, how to grow up that ladder to becoming the best coach for your clients.Use the strengths (measurable results you deliver) to define the types of results you deliver in your marketing message. After all people will buy more of “get 5 more clients a week”, or “$100K more this year” than they will buy “best coach”, “sales training”, or “certified coach”.
As we look for your strengths there are two aspects, what you can do for a client, and where you stand among others that provide that same strength, or maybe other more powerful strengths.
- What tasks, or results, do you usually avoid because you don’t feel confident to achieve them?
- What will the people around you see as your weaknesses?
- Are you confident in your education, skills? If not where are you the weakest?
- What are your negative work habits (for example, are you often late, fail to hit your goals consistently, disorganized, short temper, don’t handle stress well?
- Do you have personality traits that hold you back in your field? For instance if you have to conduct meetings on a regular basis, a fear of public speaking would be a major weakness. Or are you afraid of making phone calls to people you don’t know, cold calls, or what other fears that keep you back?
- These initial questions are from YOUR perspective. Now, what weaknesses do you think others see in you?
Just like you did in strengths, review your weaknesses and make them measurable. In other words, what is the COST to you for never acting to fix them. Make that cost within a time frame. So for every day, or week, or month, or year that you do not fix this problem, how many dollars, how much pain in some other way, goes out the door.
For instance, I’ve had clients who had a clear outcome IF they acted, that they could make $50,000 a week. However, the cost to not fix just one of their problems was $15,000 a week due to overhead costs. So act, make $50,000 a week. Don’t act, and watch $15,000 a week go out the door.
Some people are motivated by positive goals, while others are motivated by the vision of loss or pain. And some respond to both. Which drives you?
And what weaknesses do you need to fix now, and what does it cost for not fixing them now?
The only way to fix these weaknesses, or improve the, are to face them head on as soon as possible. If you don’t know how, or need some hel, maybe hire a coach to get that help and move forward faster.
- What opportunities do you see coming up for you this year?
- What results of what value (measurable level) do you deliver to your clients that provides both you and your clients a special opportunity.
- What new technology can help you?
- Is there someone you know, or associate with, that would be an opportunity to take you, or your clients multiples further in some result? Look for where they fill in gaps. This might be a weakness you have that can turn into an opportunity for you to help clients in areas you are weak in.
- Do you have a network of resources that fill in with additional opportunities that you do not deliver. What opportunities do they bring to you and your clients?
- Is your industry growing? How do you use this as an opportunity to become THE BEST OF THE BEST in your type of coaching, or industry.
- If your industry IS NOT GROWING, how do you use this as an opportunity to become the BEST OF THE BEST in that industry? If you aren’t grabbing these opportunities, you are seriously missing out.
- What trends do you see in your business and for your client’s life or business, and do you regularly identify them, and take advantage of them in a marketing message?
- Are any of your competitors failing to do something important? If so, what are you doing to fill that gap? Or what WILL you do this coming year to fill it?
- Do you always position yourself as THE BEST OF THE BEST because you are not only the best, but because when there is a gap, you have available a BEST PERFORMER from those you have at your finger tips that will fill the gaps for you and your clients.
- Is there a need in your business, or industry, that no one is filling?
- Do your customers or vendors complain about you or your coaching? If so, how can you turn that into an opportunity, and what new solution will you provide right away?
You might also find useful opportunities in the following?
- Networking events, educational classes, or conferences.
- Either another coach going on vacation that you can fill in for, or people within a client’s business, or friends of a client that will not be available for a while. That’s an opportunity to either fill in, as a consultant, or just maybe coach a team for higher efficiency. Could you either take this person’s projects over to gain experience? Or if you have a client with a gap of experience or people, that you can take over as a consultant, or coach others to fill in. I find that by taking either one person and increasing his productivity by many times, or even a little, either he increases the overall profits of the company, or quickly fills in for someone on vacation, or that may have resigned. Look for opportunities everywhere. They are everywhere.
- a new role or project that forces you to learn new skills, like public speaking or international relations.
- A company expansion, or acquisition. Do you have specific skills, like a second language, or management skill that could help your client. Every opportunity to take a person, or a company further along will get you more clients when they discover your value from you having taken that responsibility.
- I have discovered that grabbing these gaps in a company, that opens big doors. It IS EASIER to get a temporary process improvement or even temporary job than to sell your coaching. So use that opportunity as step one into a marketing funnel where the next step is hired as a one on one coach, or coach to a team in the company.
- What obstacles do you currently face in your own business, or with clients?
- Are any of your colleagues competing with you for projects or roles?
- Is anyone within a client’s business, social network, or anywhere, competing with you for what you do, or for your clients?
- Do any of your competitors have strengths that give them an advantage over you where they are literally OWNING your type of coaching, or your industry?
- What is changing in your type of coaching, your client’s industry, or that key thing you deliver, that will hurt your results with a client, or hurt the number of clients you can acquire this year?
- Are you aware of a trend in your industry that’s hurting your clients, giving someone else the advantage, or costing you clients?
- Does changing technology or economy threaten you in any way?
- Does any of your weakness lead to threats?
As we have discussed before, if you can, review your written threats and make them measurable. What is the measurable loss you may be threatened with? Loss of how many clients, or how much will a client likely lose from this threat?
This is something I have added to the typical SWOT analysis. You will quickly discover that trends either tell you what direction the economy, the industry, or even you or your client are already headed, and, of course the measurable, how fast, what percentage does that trend move in a month, year.
Trends show you opportunities, as well as threats and give you an opportunity to deal with it now. Frequently you can see a trend turn around, and that means that if you grab that opportunity you or your client will grow faster than the industry at that turning point.
Another thing I watch is that a down trend in the whole American economy is an opportunity IF you position yourself to BE AN OPPORTUNITY for your clients as the bottom falls out. Most coaches who position themselves as an EXPENSIVE, lose clients when their clients cut back. But IF you position yourself as always growing your client at that worst of times, you will continue to get clients when other coaches lose clients.
For instance, one thing I always use as an advantage for me with a client is: If his industry, or the whole economy, is moving up 10% a year, then it does me NO GOOD to promise him only a 30% improvement, since he’s going to get that anyway as long as he is average or above within his industry. So, once I’ve identified how fast an economy or industry is already going, what I discuss with the client is a measurable that is that trend PLUS the additional I’ll help him acquire.
The same for a negative trend. In that case, let’s say a market is declining by 30%. Yes, I could target a 30% growth for my client, but that results in actual zero growth since he’ll still gain 30% in relation to his industry that is declining 30%, that’s zero growth. And yes, that is better than anyone in his industry will do, but I want him growing even in a down economy or industry.
Let me share something I promised one of my clients.
I discovered that he was #3 in his industry among sales volume of the industry, he owned 30% of that market when we started. I also saw that he was acquiring $50M in sales at #3 position, and #2 was at $90M, and #1 was at $150M. So we set a goal to take him to #2 that year, that would be almost doubling his sales.
But, as we progressed through the year, his sales only increased to $75M. Yes, it was a big step, but not what I had promised. And I was feeling bad.
But, when we looked at the trend of the industry, everyone in the industry except for my client had lost 1/2 their sales over the year. That was the trend for the industry, down by 50%
So when we were done he had grown by 50%, while everyone else had dropped by 50%. He sold $75M, the previous #2 was now at $45M, and the previous #1 was at about $70M. So my client, by driving for the $90M actually grew when everyone else was losing over half their business.
OK, let’s ask and answer some questions about trends.
- What is the most significant trend in your industry or your target client’s industry?
- The most significant trend in the overall economy?
- NOTE: How to find trends in your type of coaching, and in your client’s industry. Check out trends by going to Google Trends, type in the keyword for that industry, or type of coaching, and see what the trends are, and how fast it grows, or falls, or even did it change, when, and by how much.
- I frequently use that to show a prospect where he stands within his industry. Sometimes I will hear an “Oh, me, or my” as he tells me he’s at the mercy of his industry falling. But when I show him that his industry IS NOT FALLING, or I show him who is not falling, suddenly he gets the idea that he shouldn’t be falling, and he needs help NOW. It is an opportunity for you if used right.
- What can you do with that trend to make your client, or you, grow faster than that trend?
- NOTE: If the economy, or an industry is growing at X%, then you, or your client should be growing faster than X%, or you aren’t very successful.
- If you position yourself as best of the best, only the best coaches tend to keep growing their clients even though the whole industry, or other coach’s clients are falling.
- What can you identify about a bad trend that gives you an opportunity to help your client grow faster, or grow when everyone else is falling, or to show him that one or two within his industry have NEVER been affected, so you can help him identify their advantages, and get him up to, or above those top in the industry.
- NOTE: You will likely discover that most of your clients stop spending when the economy, or their industry turn down. If you position yourself, and your top strength as THE ONE that grows this industry especially in a down market, now you have a strength that they will buy especially in a down market. So now is the time to hire you.
The answers to all of the SWOTT questions should almost always be aha moments, where you find strengths that make you top in your type of coaching, and within your ideal client’s industry. And you will find your weaknesses, or your client’s weaknesses that when identified, and fixed will leap you and your client forward by many times even when economy or industry is headed down.
The answers point out what needs to be done, and puts problems into perspective.
The ore clear you are as to these answers, the quicker you will create the success that you want, and your clients want from you.
If you are at a oint in your coaching/consulting business where you are sick and tired of not having enough clients, watching others get clients that you can’t get, not making enough with your coaching, spinning your wheels going nowhere, then by discovering the answers to these questions and cutting down the learning curve to that new result and level of success.
If you would like to either move forward, or just want to explore what’s missing and what needs to be changed to get there, give me a call.
As Albert Einstein said
“You cannot keep doing the same things, while expecting different results?”
So identifying what has to be changed starting in January, and changing them, is the answer to that successful coaching business that you want in early 2016.
What are the changes that will turn your coaching success around and on the track to another $100K early in 2016? Let me help you get them and new level of results FAST.
Check out Video Course at a significantly reduced price
Get Coaching Clients Attracted to You — Have Them Begging You to Help
Helping small business owners to reach another $100K to $1M within months