When I found out what the top 1% of coaches were doing to build their coaching empires I almost quit.
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How The Top 1% Of Coaches Have You Beat
Hi this is Tony Teegarden. In the next minute I’m going to share with you how you begin to attract high quality, high paying clients like the top one percent of elite coaches are doing. But first, I need to share with you some big problems that are standing in your way and keeping you from having this type of success.
3 Problems You’re Experiencing Trying To Attract High Quality High Paying Clients
Problem #1: So the first thing is that you are running all over the place trying to find prospects to turn into clients between the networking, the driving, the phone calls to people who aren’t necessarily great prospects or even interested. This is like herding cats. It’s exhausting and I can tell you it is probably keeping you from really being able to leverage your knowledge in a way that is most effective (and profitable) in the world.
Problem #2: The next problem is that, when you do actually find that you have your one-on-one clients, or a handful of them, you have got to go out and begin to find more of those clients which again begins the whole herding cat’s process and so you begin spinning plates. You are spinning the plate of, attempting to service the current clients you have and then you are attempting to go out and find more of those clients. So as soon as one plate stops spinning, you’ve got to go back and spin the other one and it really is exhausting.
Problem #3: Then what happens, in order to hopefully solve that problem you begin to copy the same tactics that you see the top one percent doing and I will talk more about that in a moment. But the problem there is that that you don’t have the same assets that they have and there is one critical asset that is absolutely necessary, that you probably don’t have. I will share it with you in just a moment.
But the problem is that, all of this leaves you exhausted, overwhelmed, and underpaid. Now let me validate this with some numbers for you.
Third Party Statistics – The Problem Is Real
Okay so, I want to share with you the numbers moving from 2012 into 2013 on what the average life coach is generating in revenue or income per year and you can notice here this is the 2012 ICF Global Coaching study, their executive summary, taken directly from it. And you will notice here that, there is about 15,800 coaches in the US that has participated in this particular study. And you will notice that, of course, the numbers for the rest of the world here.
I am just going to focus on North America here initially.
So again, this study based on 2012 was around 15,800 people. Now you can see here in North America, their average income was $50,400. Now, keep in mind this is an average, that means, there were few making near that number or more and there was a lot of people that were making a lot less because they had to take the average. If you notice here the median, is around $29,100, that’s probably what most realistically vast majority were making. So that gives you some insight as to in 2012 the types of income that were generated.
Now, if we take a look at Sherpa Coachings 2013 executive coaching survey, their annual earnings report, they mostly do this for executive coaches but they also cover business and life coaches as well. You notice here this $130 per hour, their average hourly earnings. Now remember this is only an average, I mean, there is a lot people making a lot less than that. But notice it is down from $160 per hour in 2012. If we take a look at the average number of clients, that is about 7.7 clients. Now that is up from 2012, but the challenge goes into the annual earnings.
If you notice here, again the average is $49,890 and that is down, roughly $6,000 from the year before. So we conceive there is a decline in the number, the amount of income that is coming in, but there is an increase in the number of clients that are being serviced.
Now there is a couple of challenges if we take a look at this $130 an hour number, we really want to focus on this for a moment, not only just the fact that the incomes are in a decline and the number of clients that are being serviced is increased. Let’s take a look at the $130 per hour.
- So if we really reveal here, the expenses in the overhead that are incurred as a coach are not factored into that $130 an hour. If they were, it would be significantly less.
- It’s also based on when you break down on the number in the Sherpa Coaching study as around 52 weeks a year that you would average that you are working. If you factor in the 7.7 clients and $130 an hour, that’s 52 weeks a year that you are servicing your clients, that’s rough. I don’t care how much you love what you do, that’s a lot of work there.
- And then also the time spent in driving, networking and prospecting also isn’t factored into the rate. These are activities that you as a coach are probably incurred and involved in but you’re not getting paid for those. The challenge is you are only getting paid for the time that you are charging your particular clients; the hours. So you have a trading time for money factor but you are also not factoring in all the other expenses and the input of energy that you are not getting paid for. You are only getting paid for that time spent with the client, not the time you have spent actually developing and building up your business. (generating leads)
- And then finally the learning and the education and the classes that not only become a better coach and become more proficient and stay on top of what you do but if you look at how we are, you know, what I am going to talk about here next is you’re also taking time to learn and educate yourself in purchase courses and everything else on how to copy the one percent.
And all of that is also not factored into the $130 an hour. I believe if we were to really look over the average coach is making, it is far, far less based on this.
Let’s move on and let’s talk about what exactly is happening when you decide, when you finally figure out all this is going on, and your solution is to simply do one thing. Let’s go ahead and let’s talk about what that one thing is and the problem that’s going to happen when you do it.
So What’s Your Solution? You Tell Yourself….
So you tell yourself the next step that you’re going to do is in order to solve these problems you have is that you’re going to go online and then find your leads and this is because you see what the top one percent are doing and there of course, you’re on their newsletters, you’re receiving your Facebook status updates, you’re getting their tweets and all that sort of things.
But the problem is that this is doomed to fail. And the minute you decide that you’re going to go ahead and start doing what they’re doing (the top 1%) and start doing the Facebook updates, the status updates, the tweets, the Pinterest accounts with the pretty pictures and positive quotes, maybe even you decide you’re going to do a blog and you’re going to be sharing some of your best strategy and tips around coaching and how to improve their lives, it is still doomed to fail.
And the reason is you are attempting to duplicate what the one percent have that you don’t.
Here’s What I Found The Top 1% Has That You Don’t
And they’re number one asset that they have that you do not is trust.
You see, the problem with doing all of the Facebook status updates, and the blog updates, and all these sort of things is that it takes a long time to develop that trust. And that’s okay if you’re in the game for a long term.
But if you need to generate income now, if you need to generate interested and qualified high-paying clients today, you need to have that trust in place today.
And there is a way to do this because otherwise people don’t know who you are. They may see your status updates and you may be the best at your particular field in what you do. But the problem is, they just simply don’t know who you are.
So how can you begin to do this?
There IS A Way To Solve The Problem Today
Well, there is a way to generate trust right away. There’s a way that you can do this in a fraction of the time and it’s the same way that the top one percent of elite coaches are doing it and now you can too.
So the number one way for you to capture leads with complete trust is to offer them something of value and then 20 percent of your prospects in at that point, will purchase if you have something of value to offer.
Now it’s got to be valuable. But here’s the kicker; I guarantee you that you’re not selling what it is that they want to buy. So, let’s go ahead and jump over to the computer so that I can show you exactly how you can do this.