As a business coach, how do you generate leads? Well, I will provide more information for you today. This is only the 2nd in a series of videos I am providing to help you. Our 5 step process will help you exponentially grow your business. How will you land clients, you ask? I am here to teach you how. They are the same methods I use.
Today is all about referral partners. The key to referral partners is they service the same type of client you do offering a complementary service. Help your referral source solve a problem they have with your mutual client. Watch the video for an example of this.
As a business coach, how do you generate leads? Check out the first of my series of videos to teach you how to use the 5 step profit formula to grow your own coaching business. It is the same method we use with our clients and it works.
Getting more leads.
Converting them into clients.
Maximizing the value of each client.
Using the right pricing structure.
Making more profit.
The first step, getting more leads, is crucial and I will discus this in many videos. One way, is joining networking groups or your chamber of commerce. To network efficiently you need a 30 second elevator pitch about your business and you must include what problem you solve for your customers. It prompts intrigue and questions. For more information on what you need in this pitch watch the video.
Do you have it all figured out as a business coach? I thought I did butI was wrong. I found a system of coaching that completely changed my perspective. Now I can get in front of a small group of business owners or single entrepreneurs and confidently show them how to uncover $30,000 – $50,000 in revenue in under 45 minutes. With this technique, I have become so busy that I need more coaches. Would you like to learn how to not only help those clients get the revenue they deserve but also increase your coaching business to over 6 figures in 90 days?
Networking can be a nerve-wracking experience. It’s easy to put pressure on ourselves to say exactly the right thing at exactly the right time to exactly the right people.
Should I be funny? Should I try to talk to everyone? Should I be serious? Should I talk longer with fewer people? Should I join that conversation? Should I wait for people to approach me?
Networking events can feel like our eighth-grade dance all over again.
But knowing some of what you’re going to say ahead of time can take a lot of that in-the-moment pressure off, making it easier to mingle and be yourself.
This is just part of why many networkers recommend crafting a 30-second “elevator pitch.”
Not only can you enter a conversation confident in how you’ll introduce yourself, but you also know you’ll be consistent throughout the networking event. When you don’t have to divide your attention between listening to the conversation and deciding what you want to say, you can focus more authentically on building connections—which is what networking is all about.
But making things less intimidating is just one of the reasons your elevator pitch is your most important networking asset:
When you clearly explain who you are, what you do, and who you help, a successful elevator pitch doesn’t just attract the people who hear it directly—it also empowers anyone you’re networking with to reach into their network and send you prospects.
This makes every networking event more effective. Every contact you make has the potential to foster even more connections, allowing your pitch to reach a larger network of potential clients and customers.
Here are the three essential components of every effective elevator pitch:
1. Who You Are
The first step is to introduce yourself, including both your name and your job title. If you’re speaking on behalf of your company, you’ll also want to include your company name.
For me, this is as simple as, “Hi, I’m Dr. Steven Kirch, coach and trainer of business coaches with Profit Minds, LLC.”
2. What Problem You Solve
Next, briefly explain what you do in a way that is easy for people to understand, even if they’re not in your niche. Most importantly, make sure that it’s crystal clear what problem you solve for your clients or customers.
There are two important components to this: the people you serve and the problem they face.
When you describe who you serve, you might use a basic descriptor, like “corporate executives” or “small business owners,” or you can be even more specific, like “small medical practices” or “business owners in the trades.”
When you describe the problem your potential clients or customers face – and this is perhaps more important – you should include something that reveals the emotional state of your ideal client. For example, in my case, I indicate that my ideal prospect is somehow dissatisfied with their current life situation and looking for a change.
In my elevator pitch, I say, “I work with corporate executives or small business owners who are tired of their hamster wheel and are looking for a new opportunity where they can truly help others – and at the same time build income for themselves to support the freedom they have always dreamed of.”
3. How do you do that?
In a networking mixer, I stop right there. You want to entice the listener into a conversation, so don’t give them too much information, but enough to beg the question: “How do you do that?”
Once you’ve made it clear what problem you solve, this next step is to get more specific about your strategies and what makes you unique.
When people ask me the “how” question, for example, I respond by sharing, “I teach coaches our system to attract and retain high-paying clients. I set them up in their own business and teach them techniques that enable them to say ‘I can find 30-$50,000 in untapped revenue for ANY small business in under 45 mins.’
All I require is empathy, an entrepreneurial spirit, and the ability to learn and follow our system.
Within 6-8 weeks, they will be on their way to earning six figures in their own coaching business.”
BONUS: What to Listen For
Not everyone who hears your elevator pitch will be the right fit to work with you. In fact, you never want to try and sell directly to the person you are speaking with – even if they are actually a perfect prospect. But when implemented correctly, an effective elevator pitch can invite the listener to send you prospects and share what you do more broadly, even if it’s not applicable to themselves.
This is why it’s especially important to make sure the people on the receiving end of your elevator pitch know how they can recognize others who might benefit from working with you. If they are a prospect, they will recognize themselves in your description.
In your pitch, particularly at a regular networking meeting where you are a member, be sure to include what to listen for, with phrases stated in the first person.
For example, I might say, “If you hear a client or friend or family member say something like, ‘I’d love to retire, but I’m not sure I’m ready (or can afford it) (or what I’d do to fill my days)…’ or ‘I’m really tired of doing the same thing day after day and am looking for a new opportunity…’ or ‘I would love to find something to do where I can really help others…’ those would be great introductions for me.”
Nailing Your Pitch
Developing an effective elevator pitch can take time. There will likely be a period of trial and error as you figure out the best ways to describe what you do and who you serve. And the more you practice sharing your pitch, the more comfortable you’ll get and the more effective your delivery will become.
But the time and effort are absolutely worth it.
Once you have an effective elevator pitch, you can use it not only in your networking interactions, but also in your social media, on your sales pages, in your email communications, and on your website.
If you’d like help crafting your elevator pitch, set up a call with us here.
As a business owner, generating leads is one of the most important tasks for growing your business, but it can also be the most daunting.
How do you generate leads? And how do you do it in a way that doesn’t feel slimy, shady, or overly “sales-y”?
Here are five effective strategies for generating strong leads for your business—that won’t make you feel like a used-car salesman.
1. Join a networking group
Joining a networking group is a great way to attract more leads in a personal, genuine way. Some of these groups meet monthly, some meet weekly, and others meet every other week or every other month. If you’re not sure where to begin, consider joining your local chamber of commerce. They will certainly have networking events that you can attend.
I’m a member of several different networking groups, and I find them an incredibly valuable resource for generating leads—not just in terms of networking with potential clients directly, but in terms of meeting other business owners who can refer people to me from their own network.
When you clearly explain what you do, who you help, and what problem you solve for your clients, the people you meet while networking can send you prospects. Once they get to know, like, and trust you, they essentially turn into your salesforce.
2. Develop your “elevator pitch”
The most important thing about networking is having an effective 30-second elevator pitch. This must include not only who you are and what you do, but most importantly, it should also include what problem you solve for your customers.
In my elevator pitch, I explain that Profit Minds helps our clients create unique strategies to grow their business and create the life of their dreams, and that we can find 30 to $50,000 or more in untapped revenue for any small business in under 45 minutes. This often sparks a conversation about how we do this, which allows me to get more specific about the strategies that I use.
At a regular networking meeting, your elevator pitch should also include what to listen for, with phrases stated in the first person. For example, I might say, “If you hear a client or friend or family member say something like, ‘I need new sources of revenue for my company,’ or ‘I can’t afford this year to be just like the last,’ those would be great referrals for me.” This way, the people I meet know exactly who they can send in my direction.
3. Cultivate relationships with “power partners”
While offering potential partners a referral fee is straightforward and can work, I’ve found there’s a better way to incentivize referrals. To do this, seek out partnerships with businesses that serve the same type of client that you do but offer a complimentary product or service. I call these “power partners.” Then, when you present the referral opportunity, seek to solve a problem your referral source has with your mutual client.
At Profit Minds, we use this strategy to partner with—and solve problems for—CPAs, business brokers, and digital marketing agents, among others.
When I look to partner with a CPA, for example, I explain that if they send me one of their small-business owner clients, I will make sure the client sees them at least four times a year. I do this because the information I get from a CPA is a measurable and reliable way to make sure my methods are working.
This solves the CPA’s problem of only seeing their clients once a year around tax time. When they refer clients to me, they not only get more income from our mutual clients, but they also get to provide financial guidance throughout the year. This is a win all around: the CPA wins, Profit Minds wins, and most importantly, the (mutual) client wins.
4. Take advantage of speaking opportunities
Becoming a public speaker is a great way to build your reputation, establish your authority as an expert, and reach a broad, interested audience. This also helps build your relationship with your prospects as they get to know you and your story in an authentic way.
You can find speaking opportunities through local professional groups, as well as through strategic partnerships. Look for events and conferences in your area, and reach out to your network to learn of other speaking opportunities. If you joined a networking group, you might even find opportunities to speak at their networking meetings. Or check with your local chamber of commerce about setting up your own event where you can be featured.
Keep in mind that speaking opportunities don’t just happen in person. In the wake of COVID, many events are happening online or in other virtual spaces. Clubhouse is one such app, which features an audio-only sharing community.
5. Be a guest on podcasts
If you find the prospect of speaking to a large audience intimidating, appearing on podcasts is a great alternative.
You could of course start your own podcast, but you can also join in as a guest speaker on someone else’s podcast. Since appearing on a podcast is just like having a one-on-one conversation, it’s not nearly as scary as other public speaking opportunities—but if you’re a guest on the right podcasts, it can be just as effective.
With that in mind, don’t restrict your search to only podcasts about your exact same topic, but try to seek out podcasts that might share your audience. What podcasts might your ideal client be listening to? You can even start by asking this question of your current clients!
Strategies for everyone
There are strategies for every taste and ability, whether you enjoy addressing a large audience, prefer focusing on personal relationships, or anything in between.
If you find a strategy that appeals to you, don’t hesitate to reach out—I’d be happy to talk about how you can develop that strategy as you grow your business.