This transcript was generated from the episode audio and may contain minor errors.
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Hey there, what's up? Thanks for tuning in today. This is your host, Chris Guillebeau. Wherever you are in the world, whatever you're up to, I hope you're taking some time for yourself. Hope you're spending just a bit of time, even if it's not much, working towards something that's gonna help you in the future.
Like build something today that will serve you for hopefully years to come. Part of that can even just be investing in yourself by listening to these very short daily episodes, trying to give you a tip, some motivation, something to help you along the path in creating an income generating side project, an income generating project that can actually make a good amount of income, right? Now, speaking of that, today's caller wants to sell executive coaching to high performers. And this is a big ticket item, at least it should be. We're gonna talk about that.
It's also something that isn't for everyone, which is good. We got some specific targeting here, but they've tried it at least once before and it didn't work very well. So let's see if we can help. Let's see if we can help them adjust for round number two. So this caller, executive coaching at a high price, their detailed question and my answer coming right up.
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Hi Chris, this is Sean from LA. Been listening to the show for a while, but finally decided to ask a question. I wanna sell executive coaching to high performers. I tried doing this before the pandemic, but I made two big mistakes. First, I wasn't clear enough on the benefits my clients would receive.
Second, I didn't charge enough money. It took me some time to understand that the executive coaching shouldn't come cheap. Now I'm ready for my second attempt. Aside from these two issues, which I think I've corrected, do you have any other advice for me? Thanks for your help.
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All right, Sean, thanks for the call. Thanks for being out there. And I've got some good news for you right at the start. I think that you have identified the two biggest issues. So Sean says aside from these two things, well, those two things are pretty big.
And those are exactly the things I would focus on. And if you can address them, then I do think your odds of success for round two are gonna be much higher. But since you're here, and for the sake of our other listeners, let's consider how you might address these issues, okay? And so Sean said his two issues, his two mistakes were, he wasn't clear enough on the benefits his clients would receive, and he didn't charge enough money because executive coaching shouldn't come cheap. So let's take it from the top.
Number one, being clear on the benefits. Why should a busy, high performing executive make time in their packed schedule? What would be compelling for them? What would get them really excited? What would rock their world?
Whatever the answer is, like all of Sean's messaging should clearly explain and emphasize those points. Like that is the selling point. Second issue, this might seem simple enough, not charging enough money, but the interesting thing here is it's directly connected to the first issue. More than any other factor, you should charge based on the value you provide. And this is true for any service.
Like you want potential clients to think, what is it worth for me to improve? Like in this particular service, executive coaching, not sure exactly what Sean's going to do, but presumably there's going to be some improvement. So what is it worth for those executives to improve? Let's get more specific here if possible. What if Sean could give those executives an hour of extra energy a day?
I'm just making this up. But if he could do that, like wouldn't that be worth a lot to them? Like that's how you want to draw this connection between the benefit and the price as opposed to basing the price on the time or some other factor that really doesn't connect to the benefit. Benefit is the most important thing. So honestly, as I said, if Sean addresses those two issues properly, I would be really surprised if he doesn't see much better results going forward.
So good luck, listeners. Good luck to you too. As I said, take time for yourself. Take time to work on something that can help you in the future. If you've got a question for me, come to sidehustleschool.com/questions.
Otherwise, just subscribe, follow, come back tomorrow, new episode every single day. My name's Chris Guillebeau. You're listening to Side Hustle School. [Music]
From the Onward Project.
