How Long is Your Shoestring?

In last week's newsletter I mentioned the potential for attracting clients using referral groups such as BNI and BRE. Some subscribers got back to me and mentioned that although they thought these groups are a useful and even proven method for building their practice, at £500+ they thought it was a bit on the pricey side.

This highlights a concerning tendency I've noticed in a number of coaches. Namely, the reluctance to significantly input funds into their own coaching practice as part of their attempts to attract clients. This is myopic. It is also bordering on the less favourable side of insane.

You can't scrimp your way to building a sustainable coaching practice.

If you think all you need to do is train as a coach and then get some business cards and leaflets printed and have a stampede of clients rushing to work with you I'm afraid you're mistaken. Sorry to be the party pooper and whistle blower on this crucial point.

The fact is that to build a successful coaching practice (hey - any business) you will need to put in a significant amount of time, effort and yes - even the green stuff too. To think otherwise is naive.

If you allocate your resources wisely then you'll get much more back in the way of returns so that no input will really ever be wasted.

How do you make a good decision on utilising your resources?

Before putting your resources of time, effort and green stuff into any new client attraction method for your coaching practice, here are some pragmatic questions to ask yourself:

1. What will you need to put in? - Quantify how much time, money and effort you'll need to put into the client attraction method you are considering. This may be hard to do in some cases but go with your best guesses.

2. What will you likely get back? - Estimate the likely returns you'll receive if you do go ahead with the client attraction method you are considering.

This is the area to place most of your focus. Focus on the benefits and outcomes you'll receive from a particular method rather than thinking solely about the input required.

3. What are the consequences if you don't act? - Of course you have the option of not following through on a particular method to build your coaching practice. But what will the likely consequences of this course of action be? How will you gain from not following through? What could you lose by not going ahead?

4. What other options are there? - You may find that you discover alternative options for attracting clients into your coaching practice. These may require less input and/or give you a much greater return from your input of resources.

I hope that this week's newsletter has been useful for you and has helped you to consider your approach to allocating your resources of time, green stuff and effort in your attempts to build your coaching practice.

So, how long is your shoestring?

With very best wishes,

Shaun

Authentic Practice
helping coaches to get more clients
45 Capitol Court
Old Coach Road
Wollaton
Nottingham
NG8 1GX

Website: http://www.authenticpractice.com

Tel.: (0115) 928 3070 or (0845) 123 5105
Mobile: (07811) 262 111

---

I work with coaches who have a strong desire to help others but are currently struggling to get clients. I help them to attract more clients and create a stable coaching practice to make a difference in the world.

If you have received this copy of the Authentic Practice Newsletter from a colleague and you would like to receive future issues, then please visit http://www.authenticpractice.com/subscribe.htm. Thank you.