Ep 234 - Who Has Money for Coaching?

Can people even afford coaching in this economy? 

Today, I’m diving into one of the biggest questions every coach faces: Who has money to spend on coaching? Spoiler alert: a lot of people are ready and willing to pay for coaching! In this episode, I’ll share how you can identify clients who are actively looking for a solution for their problems, and are ready to invest in themselves.

We’ll talk about the importance of clear, consistent messaging that speaks directly to their pain points and why honest communication is the key to getting their attention. I also share a real-life example of a coach whose incredible personal story wasn't coming through in her marketing and how a few simple changes made a huge impact.

Join me to learn how to transform your marketing, attract clients who are ready to invest, and build a boutique coaching business that makes a real difference. This episode is all about making your offer irresistible!

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Transcript

[00:00:00] Who has money to spend on coaching? This is the million dollar question. Let me just tell you, the best candidates are people who know that they have a problem and they are seeking a solution. They are people who have the ability to pay. They are people who understand you and you understand them.

Those are your best candidates. Now, I'm not being smart when I say this, but people who have seen your marketing are also the best candidates. So are you marketing enough? When you have an offer that solves the problem that your niche client has, And you can communicate that in a straightforward, simple way about how you solve it.

The chances of them saying yes go way up when you communicate it in more than one place. The chances of you getting their attention go way up. When you communicate it more often, the chances of you getting their attention go way up. So what are you offering? Again, I am not trying to be, you know, [00:01:00] funny here when I talk about this.

This is serious business and I want you to consider these questions. Have you asked people what it is that they need and are you offering them? What it is that they actually need. I know if you are coaching in your niche, people spend money because you spent money on the coaching. Isn't that right? I'm gonna bet it is.

Are you talking about coaching in a way that they understand it? Are you hitting the real pain points or are you sugarcoating it? I had a conversation just this evening with somebody about They're coaching business and she said, I'm not selling any coaching and listen, this lady had taken certification.

She was very qualified and I can tell you she had done lots of action and not just kind of halfway action. She had really gone in in the last couple of years. and done lots of things and she had stats that she could tell me about what she had done and what she had tried. [00:02:00] But as I looked at her website and we talked further, I asked her about her website and about her marketing message.

Here's what you should know. This particular woman has lost a hundred pounds and been able to keep it off after trying all kinds of things. So she knew what she was talking about, but she said, nobody has money to spend. So I said, what are the health consequences of being a hundred pounds overweight?

Well, she said, these people are not just obese. She said they are morbidly obese. And I was like, morbidly obese. Okay. So I looked at her website that sparked my curiosity while she was talking and continuing to share. I looked and I was like, okay, this is interesting. Nothing on her website says anything about somebody being obese or morbidly obese.

I said, well, is that your ideal client? She said, Oh yeah, that's who I'm actually targeting. Not. Obese, but morbidly obese. I'm like, well, it's interesting. Why doesn't it say it on your website? She's like, [00:03:00] you know, I don't know and I can bet that she wasn't saying it because that felt like a slap in the face It almost felt harsh to say, you know, if you are morbidly obese, I can help Okay, but that's the truth and sometimes people need to hear the truth now Maybe you're saying okay, this lady's niche is so obvious But I can promise you that if I was talking to you, I could find the same kind of probably gap in your messaging.

So this particular lady, I was saying, look, this is how you get their attention. You get their attention by saying something that hurts by saying the truth of the matter. This is marketing that if you say it. In a really truthful, loving way. This is how you sell coaching. I do this when I talk to you guys.

I talk about the fact that you have invested all this time and effort in your coaching and you still have no coaching clients. I explain what the problem is. Like you're [00:04:00] terrible at the technology, so you're not getting your business built. You know, you're concerned about getting your social media done right, so you're not doing it.

You're not talking to enough people because you don't know where to find the people. Those are pain points that like nobody really wants to hear. Like you're embarrassed because you haven't made any money in your business. That is the harsh reality that I can say in my marketing that gets people's attention.

And I'm sorry, you guys, that's not what I meant to do right now. I'm just trying to help you see. What do you say in your own message? So with this woman, I said, look, the situation is if they are a hundred pounds overweight or morbidly obese, what is the consequences to their health? This woman knew because she had been that person.

So I said, I mean, what does it look like when they get that solved? She knew what that was too, because she's living a life like that.I said, we have to have some stats. What's the longevity of their life? That's another like hard truth. But how does the lifespan change?[00:05:00]

What are the consequences financially with medications? I'll tell you another thing. We have a binge eating coach and she talks about the cost of binge eating in food dollars. To prove to people they have the money to spend on coaching this could be the same situation with this lady If you are morbidly obese you're spending money on Medications probably I can't say for sure but probably on food Additional food that maybe you're eating out.

I don't know but you're eating and consuming more than Probably you need. So again, I don't know the numbers on this, but I'm sure you could ask Google and Google knows the numbers. So that is the reality of the picture that she needs to paint for people. That is how you get somebody to say, I have the money to spend on coaching because now she's pointing out that the cost of keeping that a hundred pounds is far more significant than them giving her the money.

for the coaching. [00:06:00] And in addition to that, this woman had tried everything else so she could, what I call poke holes into all of the other things that she tried to show that her coaching solution was the answer. So are you doing that? In the last month, I have gained two new clients that both told me on our consultations, look, we do not have the money to invest in coaching.

Which, by the way, I want to point out to you that if you're on a consultation call with somebody and they're telling you that they don't have the money, They probably do have the money or they would not have made a consultation call with you. Okay. So that's the first thing. But both said, look, we've already invested, you know, pretty significantly other things that did not work, which is good to know, but we still don't have a business.

We still don't have any income. We still haven't built our business. So I talked about what was wrong, what I could see was wrong. And I said, look, here's the deal. Okay. What you really [00:07:00] need is this thing, which was my most expensive package, but I said, based on what you're telling me, let me talk to you about the lower package.

So I offered, actually my middle of the road package, I offered that to them, but both saw the value. They saw the value in the higher end package. So it's the same thing as this woman and the weight loss. You have to show the value of losing the weight so that the dollar exchange is not that painful. So after talking to both these women, it was like they could see no other way to work with me.

then to do the more expensive option, even though there was another way. So both of them took 48 hours to think about it, which again, I want to point out to you guys, that is not a problem. Okay? If you have done a good job on the consultation, if somebody really sees the value in your coaching, if you have given them all the information, answered all their questions, give people time to think [00:08:00] and to make a decision.

So they took time to decide. And what came back was Both people pick the most expensive option. Even after telling me we cannot spend that kind of money, we've already spent that kind of money. We cannot do it again. So when you communicate the value of your offer and you give people what it is that they most desperately need, they will pay.

So who pays for coaching? People who will get what it is that they need. Does your offer provide that? I want to encourage you again to go back and make sure that you're speaking to people in the right way. Do the niche, you know, research or whatever it is you need to do to get clear on offering the best solution.

Also, I want you to have a mindset shift. Right now, you are stuck in a story that nobody that I'm talking to has money to spend. No, everybody has money to spend. People that they can find who will have money to spend. All of you coaches listening to this [00:09:00] have people who can find somebody to spend money.

You just are not talking to the right people. Every day I am tuned into hearing stories about success. Because I don't want to listen to the, I don't have money stories. So I just listened to a podcast last night on my walk and it was a coach who has not sold any coaching for three years. Now she's a successful coach.

I'll just tell you that, but has not sold any coaching. She just opened up her mastermind after three years and she priced her coaching higher than what she had done three years ago. She was not in the mindset like, I don't know if I'm going to find the people who will spend the money. She priced her coaching at 47, 000.

Now, again, this is a successful high end coach. 10 people paid her in full. she thought everybody's going to do the payment option. Instead, they paid in full. Now, how did that happen? First of all, she was giving them what it was that they needed. She had solutions for their problem.

Why did they pay in full? Because she offered [00:10:00] something that they desperately wanted. she gave them a full VIP day for paying in full. Now, these people also had to fly to California to see her, right? They had to get hotels, do all of that stuff to get the full day VIP session with her.

But again, she gave them what it was they wanted. That is why they paid in full. So your only job is to figure out what people really want. What will they pay for? What will they pay in full for? What truth do you need to speak into the world about your niche's problem? how much more clearly can you communicate about the problem?

That is what you have to do. You have to Figure out how to make more offers. You have to figure out how to show more value, how to give more value, how to deliver on what you said you would, right? Make sure that your coaching delivers what you promised and then continue to market. Marketing is always the problem.

[00:11:00] That is always a problem. It is never the price. So who buys coaching? Lots and lots of people. You just have to find the people through your marketing message that happens when you do it consistently. So go do this. Keep going. I know that you No, for sure that your coaching is needed in this world, and I can bet it is too, because it's the same coaching that you probably got for yourself to fix your own problems.

So I know you're passionate about it, just like this woman who had lost 100 people will buy coaching, make it a win for both of you when you deliver what it is they need. desperately to solve their problem. It'll be a win for them. It'll be a win for you because you'll get to the coaching and make the income that you want for yourself and for your family.

Okay, you guys, people have money to buy coaching. They're only waiting for you to make the right offer. Okay, I'll see you next time. Have an amazing week. Bye bye.

[00:12:00]