October 12, 2010 By
I had an 8-session consultation with two financial coaches who wanted more clients to walk in the door. There was one thing they were clear on: once they had clients, these two coaches would do amazing work with them. The trick was getting them in the door! Sound familiar? Over the next 8 days, you’re going to get the chance to “eavesdrop” in on my sessions with “M&M” and get some ideas for your own business. This is just a sampling of the work I do and I decided to make it public—not just in these blog posts, but in a CD product I’m launching next week! You’ll be able to get the actual sessions, plus 2 great bonuses, starting next Tuesday. So Session 1 with M&M. Of course, I need to get the lay of the land: how long have they been coaching, who have they been coaching, etc. They tell me they were trained through Dave Ramsey and have been coaching couples on and off for ten years, mostly giving their coaching away. Now, they’re ready to make money! I am pleased to see that they have a somewhat Brain-Sticky differentia- tion already, promoting themselves as, to paraphrase, the “seasoned couple working with younger couples.” This is, of course, very appealing, as what younger couple wouldn’t want to be guided by an “older and wiser” couple, who had weathered financial storms in marriage? I am also pleased to see that they have a target market! I can’t tell you how many service entrepreneurs don’t. “Couples” is still too broad, but we can begin to focus this down by looking at the age of their market’s children. Do M&M work with very new couples, who have newborns? Or those who have preschoolers? Or are they in high school, facing the issue of college? Each “era” has its own difficulties and it is critical to know which difficulty they want to address as coaches. They tell me that most of their clients have children in elementary-school, indicating that (generally), the parents have been married at least seven years, and up to 14 years. These are often pressure-cooker times, when the honeymoon is over, financial issues are no longer ignorable and volcanic eruptions occur. I begin to take M&M through a process I call the “Trigger Event.” The fact is, humans walk around thinking they can handle most of their issues by themselves, or at least with the help of friends and family. But something happens, one day—in fact, one moment—that triggers their dawning reali- zation that they need help. This is a tough exercise for most people, and M&M and I move right in like “Google Earth” on their couples, looking in on a typical scene when such an awakening might occur. They decide the couple is reviewing a new credit card statement and we move through the entire scene: what the conversation is like, what eruption occurs, and what finally “pops the cork;” has one or both of them blurting out, “We can’t do this alone!” Why is this important to know? For starters, it is critical to understand that you won’t make money if your market isn’t hungry—and they aren’t always hungry. I always tell my clients and students that your greatest competition is not someone else, but rather the idea, “I can do this myself.” But there will be a tipping point when they are in such pain or frustration they are finally ready to spend money. And you want to know what that pain is—on a very specific level —so you can refer to it in marketing copy, creating intimacy with your market as they “self-identify,” saying, “That’s me!” —and so you can potentially influence that trigger event in those who haven’t had it yet. The trials and tribulations are there in the background, like a humming furnace, but they haven’t realized they need help yet. You can help them realize it, by talking about those moments, only if you know what they are. So, what is a moment that would wake up your market from enduring and tolerating whatever is not working for them? Would love to hear your ideas below! And be sure to come back tomorrow, when M&M decide on the strategy they’re going to use to get more clients!