[Show Transcript]
In this week’s report:
You’ll learn how to become a coach or consultant, so you can share your expertise and skills with others and make money doing it. You’ll learn how to find the right type of coaching or consulting business to launch, how to attract new clients, and how to keep promoting your business through online and offline marketing.
I’m Randy Charach from RandyReport.com and THIS is the show that takes you from internet zero to business hero!
We all need some guidance and motivation from time to time, and that’s where consultants and coaches come in. People spend millions of dollars a year hiring consultants and coaches to help show them the way. Imagine helping people achieve their goals step by step…in life, in relationships, and in their careers.
It’s possible…everyone is a resource on something – whether that something is online marketing, business writing, or tropical floral arranging. Put your skills to good use, and you can raise the bar with your very own consulting or coaching business.
Coaching and consulting are two different paths. Coaching is offering a type of guidance…like your Little League baseball coach did… Whether it’s counseling a couple wondering about their romantic relationship or coaching a guy having a mid life crisis…who can’t afford a Porsche…a coach can help give people the courage to make better decisions and move forward.
We hear the term consulting more in business. Consulting is providing expertise and advice in a certain area, like a computer consultant who comes in to evaluate a company’s technical system, or analyze their work flow. Consultants are hired by businesses and individuals for lots of reasons: to motivate people, to teach new skills, to identify problems, and to influence others.
It’s your job as either a consultant or a coach to listen and give unbiased, honest advice to help people come up with their own solutions. People want a friend and counsellor to talk to, not a parent or teacher who lectures them.
One of the best things about starting a consulting business is the low capital investment needed to get it off the ground. It’s not like opening a bakery where you’ve got hundreds of thousands of dollars tied up in property leases, decor and cookie dough.
A lot of your consulting and coaching business can be run smoothly from home, which can make a hefty difference come tax time…some of your rent or mortgage may be deductible, and you can write off expenses like some of your utilities. Also, you can get a tax break on mileage clocked getting to and from client meetings. Know the rules of what you can and can’t deduct. You can’t write off a trip to Disneyland with your family because you took a business call while on the Pirates of the Caribbean.
Some of the most popular consulting businesses these days are in fields like accounting, career counselling, advertising, business and marketing, and writing. However, the possibilities are truly endless –from weight loss to pet behaviour to feng shwey.
Start by examining what you’re good at. Think about the things you do every day. Are you crafty at organizing and maximizing small spaces? You could do well as an organizational consultant, brought in to help clear out serious clutter. If you know the ins and outs of computer software and hardware, there’s an idea…computers are as mysterious as the Bermuda triangle to many people. I bet you could find five, or ten, or twenty things you’re really good at…valuable skills you could sell.
The secret sauce of building a successful business is the passion and drive you bring to the table. Even if you’re really good at something, you can’t teach people if it bores you to death or you count the seconds until the end of each work day rolls around.
Knowledge is power. You won’t be able to help people blossom as gardeners if you don’t know the difference between a tulip and a marigold. People are seeking you out for your knowledge… your credentials, experience, and education. You wouldn’t want to take flying lessons from someone who’d never sat behind the controls of a plane. Would you?
So choose a field you consider yourself an expert in. Make sure you’re up to date with the different industry trends. Products, services, and techniques can change from day to day, and you don’t want to be telling a client to do something that’s become as outdated as the Macaraina.
Speaking of clients, who are your potential clients? You need to decide if you’re targeting mom and pop agencies or huge corporations, non profit agencies, or small startup businesses.
Before you stick an Open sign in your window, promote your business in a way that works with your company. You can promote your consulting or coaching business with offline marketing tactics like direct mail campaigns where you mail brochures or flyers about your new company to targeted leads.
You could take out a print ad in the local paper, or do a short radio ad to drum up business. You may get some clients through cold calling…brrr…and you definitely want to order business cards with a clear message and call to action.
You also need an online presence. Building a website that tells your story is essential in getting the word out to potential clients. Use your website as a tool to give people a reason to use your services. Offer a free consultation, or a special report, maybe a downloadable ebook.
Always have an opt-in form on your website that offers a free newsletter or future updates and info. This will help you build a pipeline of targeted customers who are interested in exactly what you’re selling. If you have a solid offline marketing campaign, you can drive people back to your website, where they can learn more about your business and sign up to get those updates down the road.
Your website may clearly display your rates, or you may want to save that for the consult. It can be hard to know what to charge when you first start out. You don’t want to low ball yourself, but you don’t want to price yourself sky high and right out of the market, either.
A little detective work can be a big help, Sherlock. Call some other consulting firms in your area that provide the same services. While every situation is different…it depends on your experience and education, at least it will give you an idea of where you should move that decimal point.
A consulting or coaching business allows you to make your own schedule, build a profitable business, and enjoy the ultimate perk – no navigating rush hour traffic at 5 o clock every night.
Our question this week comes from Hannah J., from Edmonton, Alberta who wrote:
I launched a writing and editing consulting company. I feel like my written communication skills are excellent, but I need to improve my skills when it comes to dealing with clients. Any idea on how to get better at it?
Your first few meetings with a client are about helping them figure out what they want. Even if customers do know what they want, they may find it hard to communicate that to you. So ask lots of questions: learn more by asking for specific examples, clarifying what they say and gathering info wherever you can. Make notes and stay organized so you can always refer back to a previous meeting.
It’s also important not to make assumptions about what your clients want. Make sure you’re addressing the right issues and listening to what they have to say. Give them a chance to talk and ask lots of questions…and don’t overwhelm them with a string of 300 gigabyte answers loaded with technical terms and jargon.
Aim to become a partner with your client, rather than a service provider.
Well, that wraps up this episode of Randy Report. Since company’s websites, prices and quality of service on the Internet change rapidly, for my up-to-date recommendations on resources and for free tools and training, visit me today at RandyReport.com.
Today you learned
How to use your life experience and talent to start your own consulting or coaching business. You learned how to pick the right field of consulting or coaching to utilize your skills, how to target and attract clients, and how to promote your business through online and offline marketing campaigns.
Thanks so much for watching. Remember, if you’d like more free reports, resources and training then visit RandyReport.com and join me again next week where you’ll discover More great tips on starting a profitable business and growing your business through online and offline marketing techniques. Be sure to check out RandyReport.com for more information on building your business and boosting your profits.
I’m Randy Charach, and this is the show that takes you from internet zero to business hero!
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