Better Business Coach Podcast: Sales Training | Proven Education | Actionable & Downloadable Worksheets

Episode outline:

Why price comes last

In session 10 of Better Business Coach Podcast, I discussed the five steps to selling business coaching without feeling like you’re selling. Since then I have been inundated with emails saying, “What if a customer asks about price? What do I do?”

Yes, a customer can ask you several times throughout an initial consultation, “What is your fee?” or “How much do you charge?” So shouldn’t you just tell them? At least then they will listen to what you have to say and stop worrying if they can afford you.

Unfortunately, this is not the case. Mentioning price before the end only gets the client to say or at least think, “I can’t afford that,” or, “I don’t think what you have suggested is worth that.” Well of course they don’t because you haven’t told them everything yet. You may not have even asked them enough questions to offer any insight. What makes things worse is that they then won’t listen to what you say and instead will be thinking about the price. They will restrict their answers to you because they don’t want to want to work with you or even if they do listen and respond correctly, they will analyze each point and think, “Is that worth the money?”

So what do you say if they ask?

Do you just say, “Sorry, I can’t tell you right now as then you won’t listen to me.” Of course not. Try saying something like, “Before I can give you a price I need to first understand where, and if, I can help. Then I will be able to work out a package and a price that best suits you. Is that okay?” I still have not had someone say no, and by doing this you are signaling that you tailor a solution to each client, and that you are in control. Both of these will assist you to earn respect and increase your chances of a sale.

Getting over your self-doubt when pricing

I had a recent call with a client, and he asked me how I got people to agree to pay my hourly fee, which was far in excess of his own, to which I responded, “How much do you charge?” He replied, “Like $200.” The answer was clear; he wasn’t congruent with his charge out rate.

For me, I am not only congruent, but I think I charge lower than I should. So when people ask, I deliver the price and people just know it is the right decision.

So how do you become congruent with charging hundreds per hour? I know I struggled with this, especially when I first started, as only a few years earlier I was earning low wages at McDonalds. Perhaps start by giving control over that to the client. When you get to talking about price, try saying the below:

“When you thought about business coaching or considered using me as a coach, I’m sure you had an idea of what professional coaching would cost you. What kind of budget did you have in mind?”

You will get one of three answers:

1. “I don’t have a budget yet” – This means you are not talking to the decision maker, or at least not all of them. Turn the conversation to understanding how decisions are made, who is involved, and what they have paid for similar services in the past. Work through this until the client comes up with a budget, and then move to answer number three.
2. “About how much do you cost?” – This person is not being evasive; they have a budget in mind. They just want to know if they are in the ball park so they don’t look stupid. Don’t fall into the trap of playing whoever answers first loses. Quote a range of prices depending on the amount of work and try to be as congruent about it as possible. Okay, it’s not ideal, but you have lost nothing by trying.
3. “I was thinking it would cost $xxxx” – I hope you like nice surprises, because if you provide a good service and have mastered the art of active listening covered in session 9 and the Business Needs Analysis covered in session 7 and 8, you may find you get numbers much higher than how much you perceive your value, especially ...

So what do you do next? Do you just say, “Okay, pull out your check book?”

Surprisingly, if you utilize the Business Needs Analysis well and you have mastered the power of active listening (covered in session 9), that might actually work. However, this session is dedicated to showing you how to transition smoothly and seamlessly into a paid coaching client, without feeling like a salesperson. In fact, I point out that behaving like a salesperson at this point will be detrimental.

Episode outline:

The 5 key steps to turn a Business Needs Analysis into a sale:

1. Summarizing your findings for the business owner:

On completion of the Business Needs Analysis with the client, if you listened to them well, you should by now know exactly what they need help with. The next step is as simple as telling them, while also mentioning that you will work with them for three or five hours to address it and then move to a more formal coaching arrangement. Below are three such examples:

• “From this analysis I can see that you are not sure where to take the business. My normal practice is to set up a 3 hour intake session where I take you on a journey to develop your great vision and strategy for the business. After that, we will look at setting up regular coaching sessions so that you can achieve your vision.”
• “From this analysis I can see that you are having difficulty growing your business. My normal practice is to set up a 5 hour intake session where I take you on a journey to develop a great vision and strategy for the business. After that, we will look at setting up regular coaching sessions to help you create great systems that will empower your staff.”
• “From this analysis I can see that you are not as profitable as you would like to be. My normal practice is to set up a 5 hour intake session where I take you on a journey to work out where the business is going, and then look at strategies so that you can be more profitable. After that, we will look at setting up regular coaching sessions so that you can create a successful and profitable business.”

Ensure that whatever you say is tailored to their specific need and that you don’t just copy one of the above.

The reason why this simple paragraph works so well is it tells them they need help and offers a simple way of trialing the solution you are putting in front of them.

1. Broaching price:

Don’t fall into the trap of mentioning price until this point. I know it is hard to hold back, especially if the client asks. However, if you mention price before this point the client will not be considering the benefits of what you can offer, only that the price is high.

1. Testing interest:

Asking for a sale is like walking up to someone and asking them out on a date. Luckily, it doesn’t need to be that uncomfortable. Start by asking a safe question like, “Would you prefer a morning or afternoon session?”

1. Transitioning to paperwork:

Don’t make the mistake of asking the client if he wants to move forward. Simply ask them something innocuous like, “Do you have an ABN/EIN?” which is something all business owners have. Then when they reply, “Yes,” simply say, “Great! Can you go and get that?” Then just watch them get up and get it.

While they are gone, pull out your contract and start writing. This is known as the assumptive close, described in much more detail in my video “5 Pillars To Six Or Seven Figures – The Sales Process Demystified.”

1. Get that paperwork signed:

Never ask a prospect to “sign a contract,” simply run through the contract details and then say, “Just put a squiggle there.” This is much less scary and will provide you much more success.

Keep me in the loop:

I’d love to hear what changes this has had on your closure rates w...

If you answered no, then this session is a MUST.

Active listening is a critical success factor to selling and obtaining coaching success. To be a great coach and obtain clients with ease, you must always be listening to what a client is saying, as well as what they aren’t.

In today’s busy and competitive world, truly listening has become a thing of the past. We ask shallow questions, and while they are being answered we think of the next profound thing to say. Of course that’s if we are not also checking our phone for emails, social media updates, and that call we have been waiting for all day.

In this session of Better Business Coach Podcast I discuss the importance of active listening, explain how it assists you in asking deeper and more thought provoking questions, and share with you what Brian Tracy in his book, “The Psychology of Selling,” has coined, “the five keys to listening.”

If you want your clients to think you truly understand them, feel completely in control of any sales encounter, and master the ability of asking deeper and focused questions, then this session is a must!

Episode outline: [Tweet ““Seek first to understand, then to be understood.” – Brian Tracey – “Psychology of Selling”“]

You have to be quiet to listen – As a coach you are paid to listen, understand, ask thought provoking questions, and advise. However, it all starts with listening. Many times, a coach destroys a relationship with a client unknowingly because they just don’t know when to be quiet. A client will say something, and then you hear your inner voice scream, “I know how to fix that!” or “Ask another question!” To be an exceptional coach, you must silence that screaming inner voice. You must learn to embrace the art of what Daniel Goleman in his book, “Emotional Intelligence,” describes as self-regulation.

Why is listening so important?

1. It is lonely at the top of any business and some clients just want someone to vent, brag or talk to.
2. It allows you to listen for the feelings behind the words and the underlying message between the lines.
3. It allows you to ask deeper, more targeted questions.

Become comfortable with silence. [Tweet “”Sales takes place in the words but buying takes place in the silence.” – Brian Tracey – “Psychology of Selling”“]

Don’t be afraid of silence, as it gives people the chance to answer. So many coaches interrupt something profound because they can’t handle silence. Again, you must learn to self-regulate so a client has the opportunity to organize their thoughts, challenge their current beliefs, and view things from a new perspective. If you can’t learn to be comfortable with silence, this will greatly detract from your ability to achieve coaching success with your clients and drastically reduce your ability to convince prospects that you are the right coach to move forward with. I know it is difficult, especially when selling, however, it is a skill you must acquire.

Brian Tracey’s 5 Keys to Listening: [Tweet “”Listening is the key to sales success” – Brian Tracey – “Psychology of Selling”“]

1. Listen attentively without interruptions – The simple act of ensuring your client feels listened to creates a physiological change within them. Their self-esteem goes up and they feel indebted to you for it. To ensure they feel truly listened to, do not interrupt them to share your own ideas. Face the prospect directly, lean forward, nod, smile, and agree.
2. Pause for 3-5 seconds before replying, even if asked a question, to:
   • show your client that you value what they said
   • hear the prospect at a deeper level
   • avoid the risk of interrupting the client (they may just be re-organizing their thoughts)
3. Question for clarification – Pause and then respond, “How do you mean?”
4. Paraphrasing in your own words – Shows the client you paid attention and were really listening.
5. Use open-ended questions – These are questions that can’t be answered with yes or no, such as who, why, when, were, how, what and which.

Take Action:

As I have said many times before, this information will transform your coaching and sales success, while it is also a waste of time if you don’t use it. So:

• practice
• test
• experiment
• perfect

Go out and practice your new listening skills and notice the difference in responses you get from people when you listen well and not so we...

In this session of Better Business Coach Podcast I share with you what I learned about business owners and staff in my first few months of business coaching. This information is vital to hitting the ground running as a business coach. This way you don’t have to be surprised, like I was, every time your clients and their staff do things that hinder or sabotage their progress.

Episode outline:

I tell you these as I never would have guessed just how deep the rabbit hole went:

1. Business owners and their staff are people, and everyone wants different things
2. People adapt to things in different ways
3. It can be lonely at the top of a business
4. People display a lot of behaviors that really limit their achievements:
   • I know everything
   • People are trying to rip me off
   • Only I can do it
5. Business owners are time poor, however, a lot of time is wasted
6. People resist change, such as:
   • New system into a business where things are working well
   • New system into a business where things are bad enough
7. Many business owners work in their business, not on their business

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