Turn Free Speeches into Fast Cash and Clients
Do you remember a time when it was really hard to make money? Believe me I do.
Once you start to “Get It” you’ll find lots of ways to make money easier in your coaching business and to start getting coaching/consulting clients to line up.
First let me show you the model.
It’s really simple. I’ve discovered a simple way to FILL any free workshop. (We’ll come back to how in a minute.) The only limit is how many people can cram into that room, and the number of seats. So, anywhere from 30 to 50 people results in just about standing room only.
This is about a 1 to 2 hour free workshop. But this is where you get to display what you can REALLY do. I’ll challenge you that whatever it is you believe you do, and that’s the results you provide, and the value of those results, then RAISE that value another notch or two.
Coaches are considered sources of breakthroughs, things that your clients can’t do alone. They won’t hire you for things that they can do without you, nor for something fairly easy. This is about being the provider of ways to achieve things that are way beyond your clients . . . at least without you. So, when developing what you say, start there, and it will work. But the higher you reach, bigger, better, faster results and the higher you reach the more people will litter clammer to come to your regular workshops, and will quickly pay you the big bucks to do it for them.
However, before you do get the big bucks, there will be some intermediate steps, such as a paid group monthly program that’s far less expensive than your coaching. I’ll come back to this alter too. In the meantime I’ll show you some of the tricks to FILL those paid programs and your coaching from this free workshop.
Get 20% of the Room to Buy
Getting 20% of that room to buy that next low cost step is our goal. 20% of a room of 50 is 10 buying your $297 monthly program. Or about $2,970 a month, or about $35K for the year. Do 2 a month, and that’s $70K, 3 a month and that’s $105K, and there’s your $100K a year and we haven’t gotten to selling coaching or consulting yet. For each workshop, it generates 10 a month going through your paid $297 program, and 120 a year.
About 20% of those who come to those programs will upgrade to your coaching/consulting, if you do it right, so that’s 2 new coaching clients a month, or 24 for the year. Let’s say your coaching is $1,000 a month or more, or another $24K a year, but notice something, you actually made a lot more from the small paid program than you did from coaching.
$350/Hour or More
The small paid program takes about 2 hours a week, 8 hours a month, 97 hours a year that generates $35K per workshop per month, or about $350/hour. Your coaching, depending on how many hours in your coaching per month is more like 8 hours for $1,000 a month, or about $125 per hour.
I’m for less work for more income, how about you?
In any case, there are two key things I left for later discussion, how to fill the room EVERY time, and how to get 20% of that room to buy your monthly programs.
How to Fill a Workshop
I’ll give you the quick version here, but to get the full step by step version, get my book “Secrets to $100K+ Coaching/Consulting Business” .
In any case, identify your ideal market. Download a list of them from “Reference USA” a free database of businesses, and some individuals from almost any local library with online access. Or pay for a list with any of the list companies. They have just about any list you can imagine. You just have to KNOW where your ideal client can be found. That’s in my book as well.
I use postcards, and send out about 1,200. But right at the top on the back of the card your title of the workshop stands out in a bright color, like red, and it announces what they will learn how to do in the workshop. It’s got to be what your ideal client wants, and probably would almost kill for. Mine typically are “How to Get $100K of new clients starting this month”, or “How to get 5 new clients a week” (the number depends on whether I’m talking to small businesses or large.. Or for larger businesses, “How to find and catch the 2,000 people who are looking for you right here.
And of course you’ll have to be showing how to do that in the workshop, or they might e rather unhappy. But deliver it and you’ll have 20% taking that next step with you.
Another critical step — in the post card make sure to tell them to CALL YOU so you can “HOLD THEM A SEAT” otherwise they won’t be able to get in. Of course I won’t keep anyone out, but I want them to call me because, typically only about half of them show up for a free workshop, but I will have ALL of them on my list to follow up with. I sent out about 1,200, and should get something over 100 calls. These are people who NEED you whether they show up or not, and you will be calling them converting even those that don’t show up.
In any case you will have a list of 100 potential clients, with about 50+ showing up at the workshop.
How to Get 20% of that Room to buy
When doing a workshop, I typically, break the workshop into 15 minute segments, and I have a target result I want to deliver to my attendees in each segment. It may be a step 1, step 2 toward a bigger goal, or it may be somewhat stand alone and give several different ones that contribute to the total results I announced in the postcard.
I go into much greater depth on how to structure each 15 minute segment and how to make it VERY compelling in the book. So for each segment I have a call to action. Usually a “when will you act and when will you get these results”. And then I get attendees to holler out when they will do this, I’ll write their names down on the board with a target dollar value they could get, and the date of their result. (if it is a smaller room it’s easy to get every one in the room, but for the bigger rooms I capture only a few.)
In any case, now I have a follow up list to call.
I tell them that I am committed to their success, are they? And get the room hollering out YES. I say that I don’t want to end up being more committed to their success than they are. And that I will call each of them on those dates to make sure they did get their results, and if not I’ll help them.
After the workshop you should get maybe 1 or 2 wanting to talk further. If you don’t get that many it’s time to work on what you said, how you said it, and who you said it to. Frequently you weren’t challenging enough, or didn’t reveal some real aha moments. But that is also covered in the book.
But here’s where the real rubber meets the road. On the target dates, call those who are committed to making it happen to ask them, “How’s it going”.
The old 80/20 rule will show up here. 80% will not have even implemented, 20% have, and again, about 80% won’t have gotten results while 20% of those should have gotten really great profound results. Capture those.
Celebrate with those who succeeded. Tell them they are your top performers (they are), send emails to all of the others telling them that Jim from the class has already gotten ______ (measurable results), be specific about how much, how big, how fast. That’ll motivate those who have not even started. If this is an employee, then call his boss and congratulate him on having the best performer in the class, and ask him if he’d like to have more like that, and drop by to see his operation. You’ve got a high probability of getting more from that company.
Offer to Help Those That Didn’t Start.
But then there are those you call that didn’t even start, or didn’t get the results. Offer to help them (we aren’t trying to make a sale, we are offering to help, most likely a few minutes on the phone to evaluate what they did do/didn’t do, and making a suggestion). For those who didn’t start out, ask them for another commitment date. Remind them of what they said in the workshop about what it was costing them to not do it, so it likely cost them $____ already, and show sympathy that “Wow, that must hurt what do you think you need to do now?
Most will make another commitment date, and you’ll call them again, and again, and again. How ever many times it takes, but your concern is not about missing a sale, it’s truly a concern for how much it’s costing them and you are there to help him. Eventually more and more will get results and actually hire you to take them to yet another level, and there will always be some who never implement, but will finally say, Wow, I guess I really do need to have you around to make things happen, I’ll hire you now and let’s get it done. I certainly haven’t done it yet.
You should get about 20% of those in your workshops signing up for either your $297 programs or your coaching/consulting. If you do 3 workshops a month, that would be about 6 or more a month joining either your $297 intermediate step program, or going for coaching/consulting. And of those who take your monthly program, about 20% of those should be hiring you as a coach/consultant.
Use those as GOALS, and your grade card. How many you actually get is your grade card, telling you how well you did each of the steps. Review your numbers after each workshop, after each month program and tweak what you say, how you say it, and who you say it to keep getting your numbers higher and higher.
If you need help, call me. 816-415-8878.
Alan Boyer Helping coaches/consultants/speakers reach another $100K to $1M within months and to stop their small thinking when acquiring new clients.
Author of upcoming book “Secrets to $100K+ Coaching/Consulting Business”
PS If you want to be the first to get a copy of the book when it comes out, email me AlanBoyer@leaders-perspective.com and I’ll send you a copy as soon as it comes out.