At any time as a coach, consultant, expert, or trainer you face multiple BIG challenges in your business…
As I searched the internet for a topic for this week’s newsletter, I stumbled across an article that outlined 100 common challenges faced by coaches and consultants.
So, I thought I’d take 5 challenges and help you overcome them, whether you’re facing them now or will in future.
The end result of course is you solving the BIGGEST problem most coaches and consultants face, which is…
They struggle to find and close new clients.
FAIR WARNING: I’m only scratching the surface here, as there were 100 to begin with and I’m sure there are many more than that.
If you can work through these, over time, your business will be unrecognizable from where it is today, and you’ll generate more revenue, and improve your business and life overall.
Let’s go.
Why Coaches Or Consultants Can’t Articulate Their Value
Have you ever felt unaware of how amazing you are and the value you give?
If so, you’re not alone.
Because you’ve worked so hard to attain your skills, and they come as second nature to you now…
It’s easy to think that everyone can do what you do, but they can’t.
And if you’re unaware of how amazing you are, you’ll find it difficult to articulate your value.
QUICK TIP: Write down all the things you can do related to your business and the results your clients get.
This will help you get crystal clear on the value you give so you can see how impactful your work truly is.
This helps you get clear on…
Your Core Offer
Creating an irresistible/no-brainer offer is vital to the success of your business.
You want an offer people feel stupid saying “no” to.
There are 7 traits of an irresistible offer, and they are…
- It must be easy to understand…
- It’s highly desirable…
- It has high perceived value
- It’s easy to get…
- It must be believable and credible…
- It must have low or no risk…
- There must be a reason to buy NOW…
If you’d like clarity on each of these traits, I cover them all in detail here >>
Once you have an irresistible offer, it helps you…
Differentiate Yourself From Other Coaches And Consultants
Have you ever been in a sales interaction where the salesperson tried to tell you why their product was BETTER than their competitors?
If you’re constantly trying to justify your value, you’re in a losing battle.
Sure you want your product/service to be better, but you also want it to be DIFFERENT.
And guess what…
Once you’ve created an irresistible offer, your offer will not only be better than your competitors but it will be VERY different too.
There are many ways you can differentiate yourself from your competition, and it all starts with studying them.
You want to know them better than they know themselves.
In this video I cover 3 ways to beat your competition, one of which I’ve just mentioned >>.
Another two ways you can differentiate yourself is with your story.
Your story is unique to you, and no other company, coach, or consultant can replicate it.
I wrote about this in a previous newsletter, but sharing your story is a VERY powerful tactic in business.
Having a unique selling proposition (USP) is also KEY to differentiating yourself from your competitors.
Your USP could be as simple as getting to work with you versus working with a big company who hires a college graduate to serve their clients.
Finding your USP will require some brainstorming, but once you find it your business becomes more robust and unique.
Why You NEVER Want To Trade Time For Money
Even if you raise your prices often, scaling your business is impossible if you trade time for money.
It blows my mind how many coaches and consultants I see who can’t escape the time for money trap.
But when you’ve nailed your irresistible offer and its delivery, you’ll no longer trade time for money and you can take your business to brand new heights.
That’s why I’ve set my hourly rate so high.
Because if I limit the number of people who can make that investment, it protects my time.
And I suggest you do the same.
You don’t need to charge what I charge, but you should make sure only the most serious and committed clients get your time.
This brings me to the next problem I see often, which is…
Having No Systems In Place
You may have heard me say this before…
But systems are VITAL to scaling your business, and escaping the time for money trap.
I always say, “You don’t manage people, you create systems that manage people.”
Once you have the right systems and processes in place your employees can follow…
There’s no uncertainty in your business…
They free up time…
And things run more smoothly, and most importantly…
Your employees can do a great job and feel good about coming to work.
The good thing is you don’t have to wait until your business reaches a certain size before you create systems.
You can create systems now that will serve you for years to come.
In Closing…
I’ve said it before and I’ll say it again…
Fix these issues and your business will be like night and day from where it is now…
You’ll have more free time, better clients, and more money, and who doesn’t want all those things?
Till next time, go high ticket,
Dan Lok
P.S. – In July, we’re running our next S.M.A.R.T. Challenge™, and guess what we’ll be covering over 3 transformative days?
Over 3 powerful days you’ll get the exact business blueprint I’ve used to generate over $100 million in just a few years in my coaching/consulting business.
I’ll show you how to install the right SYSTEMS into your business, so you can SCALE and SUSTAIN your growth, even during tough periods of economic uncertainty, and more.
This is an event not to miss if you want to take your business to new heights but don’t know how.
Click here for the full scoop and secure your seat for what will be an EPIC 3 days together >>
