STEP ONE Create a Menu of Products You Can Sell to Clients

Question 1

What is the first step to take when starting a coaching business?

Answer 1

Create a menu of products you can sell to clients.

Question 2

Why is it important to have a menu of products in a coaching business?

Answer 2

It helps generate profitable revenue and attracts more clients.

Question 3

What did Brek create to transition from a pastor to a business coach?

Answer 3

A life-planning workshop and one-on-one coaching products.

Question 4

What transformation did Brek experience as he started charging for his coaching?

Answer 4

He began to understand his own worth as a coach and mentor.

Question 5

True or False: Many coaching businesses struggle because they only offer vague advice.

Answer 5

True.

Question 6

What analogy is used to explain the importance of specific product offerings?

Answer 6

Advertising specific food items instead of just ‘food’ at a restaurant.

Question 7

What should each product on a coaching menu declare?

Answer 7

Tangible value.

Question 8

What did Nicole Burke start offering after her kitchen garden became popular?

Answer 8

$25-per-hour consulting fee to help others build kitchen gardens.

Question 9

How did Nicole Burke’s business evolve over time?

Answer 9

She raised her prices, added new products, and began certifying others to coach.

Question 10

What is essential for growing any type of business, including coaching?

Answer 10

Knowing what products you are going to sell.

Question 11

Fill in the blank: People are willing to pay for products that offer _______.

Answer 11

tangible value.

Question 12

What should coaches identify to create effective products?

Answer 12

The problems and frustrations their clients face.

Question 13

What is a potential product idea for a small business coach?

Answer 13

Small Business Optimization Program.

Question 14

What is the goal of the ‘China Transition Analysis’ product?

Answer 14

Analyze a client’s supply chain and provide sourcing recommendations.

Question 15

How can coaches help clients make money?

Answer 15

By offering products that address specific financial pain points.

Question 16

What is a recommended approach for new coaches to generate income quickly?

Answer 16

Create one flagship product and promote it exclusively.

Question 17

What two characteristics should a flagship product have?

Answer 17

Offer extreme value and not monopolize all of your time.

Question 18

What is an example of a deliverable for a flagship small group?

Answer 18

Increase revenue by 25 percent over six months.

Question 19

What is a flagship small group?

Answer 19

A small group offering a specific deliverable within a precise timeline.

Question 20

How can a flagship small group benefit clients?

Answer 20

Clients know what they will get and it feels less like a black-box investment.

Question 21

What are the three key areas to help clients achieve more revenue?

Answer 21

• Marketing
• Sales
• Product optimization

Question 22

What is the advantage of having a set timeline for a small group?

Answer 22

You can start a new group every six months.

Question 23

What type of low-cost small group can be created as a flagship product?

Answer 23

A group that teaches various skills such as potty training or dog obedience.

Question 24

What is the potential revenue from charging $5,000 per client with ten clients?

Answer 24

$50,000.

Question 25

What is a key task for hosting a small group?

Answer 25

Create a basic timeline and a rough curriculum.

Question 26

What should the lengthy checklist for clients accomplish?

Answer 26

It reveals if clients did not follow through and should not expect a return on their investment.

Question 27

How often should the small group process be repeated?

Answer 27

Every six months.

Question 28

True or False: The value in a small group comes only from the coach.

Answer 28

False.

Question 29

What is the role of the coach in a small group setting?

Answer 29

Facilitate conversation, teach frameworks, and hold clients accountable.

Question 30

What can an extroverted coach create as a business model?

Answer 30

A community exclusively for business executives.

Question 31

What is the first step to generating leads for a small group?

Answer 31

Invite clients to an initial onetime coaching call.

Question 32

What are the three characteristics of a one-time coaching call?

Answer 32

* Less than ninety minutes * Addresses client problems * Has a name and a fixed price

Question 33

What is a recommended price range for the initial coaching session?

Answer 33

$0 to $495.

Question 34

What is The One-Page Hiring Plan?

Answer 34

A session to help clients assess their org chart and design a growth plan.

Question 35

What is the purpose of an assessment in the coaching process?

Answer 35

To qualify clients and close the sale of the small group product.

Question 36

What does the 'problem list' from an assessment provide for the client?

Answer 36

Details all areas of their business that need work.

Question 37

What can be offered to clients after taking an assessment?

Answer 37

Waive the first month’s payment for the flagship small group.

Question 38

How can entry-level products help fill a flagship small group?

Answer 38

They provide value and build trust, encouraging clients to join the small group.

Question 39

Fill in the blank: The goal of a flagship small group is to create a _______ for your coaching business.

Answer 39

revenue foundation.

Question 40

What is a one-on-one coaching retainer?

Answer 40

A personalized coaching service offered for $1,000 or more per month

Question 41

What is an entry-level product in coaching?

Answer 41

Products such as assessments and coaching sessions that serve as an introduction to coaching services

Question 42

Why are assessments valuable for clients?

Answer 42

They help clients manage time, relationships, presentations, or build personal platforms

Question 43

What should you do after your first small group is underway?

Answer 43

Build out your product menu to add more value for clients

Question 44

What is the suggested price for a one-on-one coaching retainer?

Answer 44

$12,000 for twelve months

Question 45

What does the Guiding Principles Workshop help business owners create?

Answer 45

A new mission statement, key characteristics, critical actions, and core values

Question 46

What is the suggested price range for the Marketing Strategy Workshop?

Answer 46

$5,000 to $10,000

Question 47

What is the purpose of the Sales Optimization Workshop?

Answer 47

To help sales teams optimize their pipeline and close more sales

Question 48

What is the suggested price for the Two-Day Small Business Growth Plan Workshop?

Answer 48

$299

Question 49

What is a Hell Yes! Offer?

Answer 49

An irresistible offer that draws people in and sells itself

Question 50

How can a new coach realistically build a $150,000 coaching business?

Answer 50

By focusing on specific products and services that generate revenue

Question 51

How many hours per year does delivering the outlined coaching products take?

Answer 51

146 hours

Question 52

What is the primary benefit of creating a menu of products for a coaching business?

Answer 52

It gives clarity on the problems you can solve and increases confidence in asking for money

Question 53

What are the six reasons for creating a menu of products?

Answer 53

* Identify client problems * Ask for money confidently * Deliver value immediately * Plan business growth * Increase referrals * Boost coaching confidence

Question 54

Why should a coach charge for their services?

Answer 54

To ensure respect and value for the coaching provided

Question 55

What happens if coaches do not charge for their services?

Answer 55

Clients may not respect them or refer others

Question 56

Should you disclose the price of your products up front?

Answer 56

It is recommended to disclose prices to filter out unqualified clients

Question 57

What is the risk of reducing prices to build a coaching business?

Answer 57

It reduces the perceived value of coaching services

Question 58

What is the suggested price for one-off workshops?

Answer 58

$5,000 each

Question 59

What is the potential gross revenue if four coaches lead small groups?

Answer 59

$800,000

Question 60

What is the role of the executive assistant in a coaching agency?

Answer 60

To act as an event planner and manage logistics

Question 61

What is necessary for scaling a coaching business to seven or eight figures?

Answer 61

Hiring and managing a staff

Question 62

What is an example of a lead-generating product?

Answer 62

Paid lead-generating assessment sessions

Question 63

How many clients are needed in a flagship small group to reach $100,000?

Answer 63

20 clients at $5,000 each

Question 64

What is the impact of reducing prices on perceived value?

Answer 64

It reduces the perceived value of your coaching.

Question 65

What can happen when prices are disclosed on a website?

Answer 65

It weeds out clients who can’t afford the services or want wisdom for free.

Question 66

What factors can influence the pricing of coaching services?

Answer 66

Factors include: * Amount of time required * Meeting format (in-person or remote) * Group size (small group or one-on-one) * Complexity of client problems.

Question 67

How can a coach maintain price flexibility while disclosing prices?

Answer 67

By using phrases like 'starting at $5k'.

Question 68

What is the main factor determining how much to charge for services?

Answer 68

The return the client will receive after coaching.

Question 69

What does a good coach provide in terms of return on investment?

Answer 69

An enormous return on investment.

Question 70

What is the 10 percent rule in coaching pricing?

Answer 70

Charge under 10 percent of the conservative return expected from the client.

Question 71

What guarantee does the author offer regarding coaching services?

Answer 71

A full refund if the client does not achieve a ten-times return on their investment.

Question 72

What criteria does the author use to select clients?

Answer 72

Clients must have: * A good business * A good leadership team * Resources to implement the plan * Ability to make more money.

Question 73

What is the author's perspective on devaluing products?

Answer 73

Never devalue yourself or your products.

Question 74

What can the price of coaching services reflect?

Answer 74

The perceived value of the service.

Question 75

What was the author's strategy for increasing speaking requests?

Answer 75

Doubling the speaking honorarium to increase perceived value.

Question 76

True or False: Lowering prices is a recommended strategy for gaining more clients.

Answer 76

False.

Question 77

How does the author view coaching in terms of financial investment?

Answer 77

As a financial investment that should promise a financial return.

Question 78

What should coaches understand about their products?

Answer 78

What problems they solve and what kind of return clients can expect.

Question 79

What should be the first step for a new coach?

Answer 79

Creating a menu of products.

Question 80

What follows the creation of a product menu for coaches?

Answer 80

A potential client list will naturally fall into place.

Question 81

What is the next chapter about?

Answer 81

Creating a potential client list and how to communicate to convert them into paying customers.