STEP TWO Create and Manage a Potential Client List

Question 1

What is the first step in building a coaching business?

Answer 1

Create a list of qualified buyers who would benefit from your coaching products.

Question 2

Why do most people start a business?

Answer 2

• To be financially free
• Because they are passionate about a product
• To help people

Question 3

What is a key strategy for finding potential coaching clients?

Answer 3

Look for people struggling with problems that your coaching products resolve.

Question 4

How many names can you potentially list for coaching clients quickly?

Answer 4

Ten to twenty names immediately.

Question 5

What percentage of people on your client list might engage your services?

Answer 5

About 10 percent.

Question 6

How many names do you need to collect to build a successful coaching business?

Answer 6

Two hundred names.

Question 7

Name three types of small business owners who could benefit from coaching.

Answer 7

• Real estate agents
• Dentists
• Gym owners

Question 8

True or False: Any business making less than $100 million could benefit from a small business coach.

Answer 8

True

Question 9

What is one way to introduce yourself as a coach?

Answer 9

Tell people you are a coach repeatedly.

Question 10

How long does it take for a career change identity to metabolize?

Answer 10

About three years.

Question 11

What should a former accountant emphasize when transitioning to coaching?

Answer 11

Their experience in identifying business mistakes through profit and loss statements.

Question 12

How can you further brand yourself as a business coach?

Answer 12

By sending out emails that offer free value.

Question 13

What is the core function of a CRM in coaching?

Answer 13

To manage a database allowing you to email clients.

Question 14

List two benefits of maintaining a personal CRM.

Answer 14

• Creates reciprocity
• Keeps you in the minds of potential clients

Question 15

What should you do to nurture your email list?

Answer 15

Create a CRM and add names and email addresses to your database.

Question 16

What kind of emails should you send to potential clients?

Answer 16

Emails that offer solutions to their challenges.

Question 17

Fill in the blank: A CRM is short for _______.

Answer 17

customer relationship management.

Question 18

What is one common mistake when choosing a CRM?

Answer 18

Selecting a CRM that is too robust for a small database.

Question 19

What is a significant advantage of managing a CRM?

Answer 19

It allows for effective communication with potential clients.

Question 20

What should you do if you are intimidated by managing a CRM?

Answer 20

Dive in and play with it for a couple of hours.

Question 21

How can you use storytelling in your coaching business?

Answer 21

Share your background and experiences to build trust with potential clients.

Question 22

What is the result of staying in touch with your business contacts?

Answer 22

A larger network and increased familiarity when expertise is needed.

Question 23

What are some CRMs designed for?

Answer 23

Managing a small database for businesses

Some CRMs offer low-price, entry-level subscriptions suitable for managing customer lists.

Question 24

What is a key problem with most CRMs for coaching businesses?

Answer 24

They are too robust for managing small databases.

Question 25

What CRM company specializes in small business solutions?

Answer 25

Keap

Question 26

What can a well-managed CRM make business growth feel like?

Answer 26

Playing a video game

Question 27

What should you create to address customer challenges?

Answer 27

A list of the top twenty challenges your customers face

Question 28

Why will clients hire you as a coach?

Answer 28

To help them solve problems

Question 29

How can you segment your mailing list?

Answer 29

Based on the problems different clients have

Question 30

What is an effective way to identify client pain points?

Answer 30

Set up an automated survey inside your CRM

Question 31

List the six areas that create the biggest headaches for small business owners.

Answer 31

* Leadership * Messaging and Marketing * Sales * Products * Operations * Cash Flow

Question 32

What should you avoid doing in your emails to clients?

Answer 32

Giving away the answers for free

Question 33

What does the rule 'give away the why, sell the how' mean?

Answer 33

Discuss the importance of concepts but charge for the detailed processes

Question 34

What is the purpose of a nurture campaign?

Answer 34

Help potential clients diagnose and feel their problems

Question 35

What should be included at the end of each nurture email?

Answer 35

A mention of relevant products for sale

Question 36

What should you define as your coaching specialty?

Answer 36

Three areas where you deliver the best results

Question 37

What is a common mistake coaches make regarding client problems?

Answer 37

Failing to list the products that resolve those problems

Question 38

What is a recommended strategy for engaging potential clients?

Answer 38

Ask defined, repeatable questions to qualify them

Question 39

What type of questions should you memorize for qualifying potential clients?

Answer 39

Three questions based on your chosen problem areas

Question 40

What should you view your CRM as in your coaching business?

Answer 40

A community-building tool

Question 41

What is the structure of a good email to announce your coaching business?

Answer 41

* Greeting * List of main problems you help resolve * Testimony of success * Call to action * Request for referral

Question 42

What is a suggested first step when launching a coaching business?

Answer 42

Send an email to your CRM contacts announcing your coaching services

Question 43

What is a common challenge small business owners face?

Answer 43

Managing their teams effectively

Question 44

What should you do if potential clients express frustration about organizing their team?

Answer 44

Offer your management playbook as a solution

Question 45

What is the goal of asking qualifying questions to potential clients?

Answer 45

Help them realize they have problems you can solve

Question 46

What should you do after meeting a potential client?

Answer 46

Send them a follow-up email and enter them into your segmented list

Question 47

How should you communicate your expertise in your emails?

Answer 47

By mentioning your coaching products and how they solve client problems

Question 48

What is the main purpose of the email described?

Answer 48

To resolve management issues and help grow small businesses ## Footnote The email encourages small business owners to reach out for assistance.

Question 49

What was the financial outcome for Brad after sending a similar email?

Answer 49

$45,000 per month in coaching and consulting within six months ## Footnote This highlights the potential effectiveness of well-crafted emails.

Question 50

What is a risk-free taste of coaching mentioned in the text?

Answer 50

A small community curated and fostered by the coach ## Footnote This allows potential clients to engage without financial commitment.

Question 51

What is the purpose of hosting a monthly breakfast?

Answer 51

To build a community and allow potential clients to experience the coach's environment ## Footnote The breakfast serves as a non-committal introduction to the coaching experience.

Question 52

What should be emphasized when inviting potential clients to the breakfast?

Answer 52

The focus should be on solving their problems ## Footnote This approach enhances the value proposition for attendees.

Question 53

Why is it important for potential clients to attend the breakfast?

Answer 53

To build trust and familiarity with the coach and the community ## Footnote This can lead to future financial commitments.

Question 54

What is a key strategy for delivering keynote presentations?

Answer 54

Start with the problem you solve ## Footnote Engaging the audience right away increases interest.

Question 55

What is a recommended method for collecting leads during presentations?

Answer 55

Feature a lead generator with a QR code ## Footnote This has been shown to significantly increase email sign-ups.

Question 56

What is an effective closing statement for a keynote presentation?

Answer 56

Restate the problem and offer a lead generator solution ## Footnote This ensures the audience remembers the key message.

Question 57

What is a webinar in relation to coaching?

Answer 57

A free online presentation to engage and attract potential clients ## Footnote Webinars can be a practice platform for presenting skills.

Question 58

What should be included in a free business assessment?

Answer 58

Questions to identify client struggles and explain solutions ## Footnote This helps in gauging potential client needs.

Question 59

How many paying clients are typically needed to build a successful coaching business?

Answer 59

Fifteen to twenty paying clients ## Footnote Converting 10% of leads can achieve this goal.

Question 60

What should existing clients be encouraged to do?

Answer 60

Invite friends to events like the monthly breakfast or webinars ## Footnote This can expand the coach's community and client base.

Question 61

What is the primary objective when starting a coaching business?

Answer 61

Building a community ## Footnote This is considered more important than immediate financial gains.

Question 62

What is essential for growing a coaching business effectively?

Answer 62

Lead generators, a CRM, and follow-up emails ## Footnote These tools automate and enhance outreach efforts.

Question 63

What is the time required to qualify and nurture a lead once a CRM is created?

Answer 63

About two minutes per lead ## Footnote This highlights the efficiency of using a CRM.