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"Gurus", coaching & big fish clients?

by IsGabeW
7 replies
Ok...I must seriously be missing something in my logic...all these "gurus" (the kerns, the walkers, etc) talk about signing up clients for 8k-10k+; fine, cool by me.

But what I dont get is, who are they teaching? Is it just other Internet Marketers who want more info to get bigger? If it was anybody else (and they had that kind of money), why wouldnt they just hire a company/firm to market for them?

Basically, I would like to get more into the coaching side of things...but trying to figure out exactly who besides IM'ers actually pays for higher end coaching.

Thanks
GabeW
#big #clients #coaching #fish #gurus
  • Profile picture of the author sparro
    Try the "Payments Industry" They are always looking for marketing assistance that works. They struggle getting leads and Marketing online for merchants.
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    • Profile picture of the author IsGabeW
      Thanks for that info. But my question was more theoretical. I am not looking for business or anything, just thinking about how the coaching industry works...
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      • Profile picture of the author Bayo
        Originally Posted by maxmyer View Post

        Thanks for that info. But my question was more theoretical. I am not looking for business or anything, just thinking about how the coaching industry works...
        The people that pay these fees understand that it's an investment in themselves.

        It doesn't matter whether they pay for it as an individual, as a business or their company pays it on their behalf. It's seen by people that appreciate it as an investment.

        I work with business owners (primarily professional service business owners) and other entrepreneurs in the offline marketing world, not selling them SEO, Facebook fan pages or any of the other type of commodity services, but offering them a chance to close the gap so as to speak.

        'Closing the gap' means different things to different people, but there's one constant - Everyone realizes that there's a gap in their world, but what it actually means to them is different.

        In simple speak, people invest in themselves
        • When they understand the gap
        • When they understand what it's costing them in different areas of their personal and professional life, to agree (by not taking action) to live with the gap
        • When you as the business consultant focus on that gap and the consequences over and above the 'Killer App' you're trying to get them to buy or even how great you believe you and your offline products or services are
        When I started out in this offline thing I made the mistake of believing it was primarily about the internet and what we knew we could offer that would make a difference to local businesses and their owners.

        Fast forward 18 months from that point (and investing in professional business coaching myself, to the tune of thousands of dollars a month), the landscape became clearer.

        Coaching is NOT what we invest in when we pay thousands of dollars for coaching. We're investing in what we understand matters to us that we need help in eliminating from our world because the COST of staying with those things outweighs the investment in coaching.

        As someone who offers high-end outcomes to professional services business locally, nationally and internationally through coaching interventions, I can say without a shadow of doubt, that it's the best 'niche' to be in in regards to local and small business consulting.

        It's uncrowded, it's actually appreciated and all those 'commodity' type services EVERYONE thinks about, primarily linked to the internet, are also contained within the solutions at appropriate stages but are not what drives the revenue or profits.

        Hope this helps.

        Bayo
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  • Profile picture of the author Voasi
    I've got clients spending $5k/mo. with me. I've got clients that spend $10k/mo. I've even had a client spend $120k/mo. with me (yes, that's $120,000 a month).

    Big companies have big needs and it doesn't come cheap. I'm good at what I do and I provide results for these companies.

    For instance, next Monday I'm pitching a potential client at $25k/mo (that was the budget he said he had). This will be a 12/mo contract. He does ADT and Dish Network sales nationwide. We're doing a multi-pronged approach with Google maps and SEO, along with creating sales funnels and a few other things.

    Businesses still need to spend money on marketing - and they're definitely out there, you just have to put in the time for them to trust you and for them to believe you have the knowledge to put together an action plan that will have an ROI.
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    • Profile picture of the author stone2010
      WOW that's pretty amazing, i would love to get to that point... My whole thing is I have the skills but how do you get to land big customers like that? How do you find them?

      Originally Posted by Voasi View Post

      I've got clients spending $5k/mo. with me. I've got clients that spend $10k/mo. I've even had a client spend $120k/mo. with me (yes, that's $120,000 a month).

      Big companies have big needs and it doesn't come cheap. I'm good at what I do and I provide results for these companies.

      For instance, next Monday I'm pitching a potential client at $25k/mo (that was the budget he said he had). This will be a 12/mo contract. He does ADT and Dish Network sales nationwide. We're doing a multi-pronged approach with Google maps and SEO, along with creating sales funnels and a few other things.

      Businesses still need to spend money on marketing - and they're definitely out there, you just have to put in the time for them to trust you and for them to believe you have the knowledge to put together an action plan that will have an ROI.
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  • Profile picture of the author RKCastillo
    One of the things that you may want to look into doing is offering your coaching services for free. If you have goods and services that you could sell at your event, offering free services in your area of expertise is a good way to build trust and pave the way for future partnerships.
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  • Profile picture of the author MichaelHiles
    My last contract was $100K... ended up buying into the company actually as a strategic partnership. I generally do 1-3 projects simultaneousy and have a 3 year backlog. My average sales cycle is 6-9 months and it generally takes 3-6 months to get through the initial process. I target companies that can obviously afford such a thing - generally don't even touch anything less than $5 million per year now.

    One major flaw in this entire market is that efforts are targeted to the low hanging fruit of mom & pop business, retail, small services, and other "local business". These are by far the most accessible, and also the most "pitched" because the barriers to entry are a lot lower. The level of sophistication of that kind of business owner is also a lot lower, so it's easier to "snow them with a barrage of BS".

    But in the value chain of any given industry, the small mom & pop is usually at the end, and represents the smallest possible individual sale with the lowest possible margins. Who wants to compete in any space where it's a race to the bottom pricewise?

    Not I.

    The other thing is that so many well-meaning folks in this business don't really know what they're doing in the context of the marketing food chain... that is, where the things they do for a business fit into the overall strategic big picture of that business. Most here are tactical-level people who can do some technical "thing", but don't really understand what that "thing" is in relation to helping their customer grow their business overall. They have a hammer, and everything looks like a nail to them. So they're relegated to working with business owners who really aren't necessarily all that savvy themselves (after all, small businesses stay small for a reason).

    Then, many folks in these parts don't actually want to, or know how to treat what they do as a real business. They don't have the skill set or patience to manage a longer-term sales process that involves multiple stakeholders. They try to sell using car sales tactics promoted by the WSO marketplace - wherein all marketing and selling is seen as a totally emotional trigger-based thing where you deliver an NLP-laced monologue and the prospect scrambles around drooling to find a pen to sign the contract. The overwhelming majority of "offliners" don't understand the dynamics of a larger business and the kind of sales process that is required. They also have difficulty in translating the value of what they do in terms of the benefits, not only to the business as a whole, but to the individual stakeholders view of the world.

    It requires real skill, real experience, and that you deliver real value. It also takes time.

    Add all of those things up, and you begin to understand why the "offliners" generally aren't going to be wanting how to do a value chain analysis of an industry segment to find blue ocean business markets without a single competitor. It's too much effort.
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