This transcript was generated from the episode audio and may contain minor errors.
[Music]
Today's caller is on their second attempt with a coaching service for busy executives. They've got this idea, they put some work into it, and it's a big ticket item, which is good. It's a lot easier to sell, or at least you need fewer clients, fewer customers if you're selling something at a higher price than at a very low price, especially in the world of coaching. But as I said, they're on their second attempt here. The first round did not go very well, that's totally normal, of course, so as they regroup and try again, as they go for take two, what should they change?
Very helpful question to ask if you're ever in that situation of your first attempt. Doesn't completely meet your expectations or get you the results that you want. Okay, let's go back and regroup and try again, but we'll change some variables. You don't wanna just keep trying doing the same thing that's not working, but if you make some adjustments, some tweaks, perhaps that will in fact be helpful for you. So I'm gonna do my best to be helpful to this caller.
Their name is Sean. Welcome to Sidussle School, by the way. I'm your host, Chris Guillebeau. The detailed question from Sean and my answer coming right up. [Music]
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. [Music]
Hey Sean, what's up?
Thanks for calling in and let's see here. Good news. First of all, I think you have identified the two biggest issues. Those are in fact problems. Like if you're not clear enough on the benefits that you are offering, and if you didn't charge enough, especially in this kind of space, executive coaching, I think if an executive goes and looks for coaching, they're not gonna be impressed if the price is pretty low, right?
They're like, I'm an executive. I wanna pay to invest in myself. Like it should cost a decent amount of money. So you have already identified that. I think if you address those things, your odds of success will be much higher.
But since you're here, let's consider how you might address them. Number one, being clear on those benefits. So what are they? Why should a busy, high performing executive make time in their schedule? What would be compelling for them?
What would just be amazing for them? And really all of your messaging should clearly explain and emphasize those points. And then number two, not charging enough money. Well, that might seem simple enough, but the interesting thing is it is directly connected to the first issue. So more than any other factor for any type of coaching or consulting service, you should charge based on the value you provide.
And so you want potential clients to think like, what is it worth for me to improve in this area? And let's get really specific. Like what exactly are you helping them with? And then what is that worth to them? I think that's where you focus your attention.
And if you do that, I would be surprised if you don't see much better results than the first time around. So way to go on the regrouping strategy. Let us know what develops. Listeners, thanks for tuning in, episode 3,294. Much more is coming up throughout the year.
The complete archive is available for download or streaming at sidehustleschool.com. My name is Chris Guillebeau, your host of "Side Hustle School." [Music]
From the Onward Project.
