We are accustomed to receiving success stories from Center for Executive Coaching members, but last week was a record.
Here is what two coaches, both named Scott as it would have it and both graduates of the Center for Executive Coaching, reported to us, followed by a few keys that are enabling these — and our other members — to succeed where other coaches struggle:
Scott #1 – $180,000 engagement: “I thought you’d enjoy knowing that I just closed a hybrid engagement with a publicly-traded company. It involves advisory (40%) and coaching (60%) work over a six month period for a fee of $180,000. I used business coaching as the entry, conducting a paid workshop for the CEO and executive team.”
Scott #2 – $165,000 engagement: “I wanted to follow up with you after we’ve completed our first quarter’s sessions from my last email. Now the client want to accelerate the frequency and have me working 2 days per month thru year’s end – guess they liked it! I [couldn’t believe it] when they said ‘we’ll pay you $165K for the rest of the year, is that satisfactory?'”
How are these two coaches closing engagements that are valued at more than most coaches make in a year? The answers apply to both external and internal coaches. (And no, the answer is not that you have to change your name to Scott. We have plenty of graduates with all sorts of names getting great results, too.).
First, they understand the psychology of the executive-level client.
An executive doesn’t wake up in the morning thinking any of the following:
– I am not as good a leader as I would like to be and so I think I’ll get a coach.
– I sure would like to invite in someone who knows about neuroscience to help me develop my neuroplasticity.
– I sure could use someone who understands ontology and Heidegger to help me be more successful.
Here are examples of what they ARE thinking:
– The board brought me in to get our stock multiple up and I don’t have much time left.
– I am not sure that I have the right team in place to do what we need to do.
– We are not executing fast enough.
– I have our quarterly earnings call coming up which is keeping me from doing what I really need to do.
– Why can’t I get more out of my people?
– How can I position myself to take the CEO’s job when he leaves?
What Scott #1 and Scott #2, along with other successful coaches, realize is that we don’t sell coaching or some sort of philosophy. We offer solutions that matter most to our clients and bring extraordinary value.
***We sell what the client wants, not what we think they need.***
Second, successful coaches know how to have coaching conversations with prospective clients to uncover their needs and scope out solutions. We just wrapped up our February seminar and, as always, held a lunchtime demonstration about how to close coaching engagements with prospects. Most coaches simply don’t know how to do this, which is too bad, because you don’t have to sell.
You simply coach the client through the buying process to find out if you can bring value, if the client has the money, and how the client wants to move forward. It’s simple once you get the hang of it, but most coaches have no clue. (Our next certification coming soon and I hope you will attend if you are a fit!).
Congratulations to Scott #1 and Scott #2, and to all of our successful alumni.
If you want to get into the wonderful field of coaching, you need to think like these two coaches. We teach you how, and we also give you the practical, results-focused methods to deliver tremendous value to your clients. We train coaches from top companies around the world, as well as professionals with a track record of success, to feel confident and love what they do while they experience success.
I am available on my cell at 941-539-9623 or you can email me some good times at:
I look forward to speaking and helping you achieve your goals and dreams as a coach!
Andrew Neitlich, Founder and Director