How to Increase Your Coaching Income Today | Business Growth Ideas | Peter Thomson

How to Increase Your Coaching Income Today | Business Growth Ideas | Peter Thomson


– Here’s a cracking idea for any coach, consultant,
or small business owner to increase their profits dramatically while still giving value to their clients but without resorting to
any sleazy sales tactics. Hi there, my name’s Peter Thomson. I’m the UK’s most prolific
information product creator, and over the last 47 years
of being in business, nearly 48 years now, I’ve been privileged and lucky
to have learnt so much stuff from so many people. And one of the ideas that I
implemented in my business over 47 years ago, because it is coming close to 48 years now, enabled me to make a bucket of money extra whilst adding value to my clients. Now, here’s a mistake
that so many people make, particularly people who are
coaches and consultants, people like me and you who help people either solve
problems in their lives or help them to capitalise
on opportunities. Here’s the mistake. The mistake is having
only one offering or offer for our main product or service, only one offering and offer. So let’s get that clear. The offering is what something
is, what something has, why we deliver it in that way, and the benefits that
somebody gets from it. So that might be a coaching intervention. It might be mentoring. It might be going into a company and advising them on how to increase sales or improve health and safety, whatever it is that
you happen to focus on. So that’s the offering. The offer of that part is
the money side of things, so how much is it? How is it paid? What are the bonuses? Why should I do it now? What’s the call to action? So that’s the offering,
and that’s the offer. And what I found with so many coaches that I’ve dealt with over the last, gosh, it must be 27 years that I’ve been dealing with
coaches and consultants, is that usually many, many
of them, not all of them, but many of them only have
one basic offering and offer. And that leaves them exposed, because here’s the solution. Here is the solution. Oh, by the way, in a moment or two, I’ll show exactly how you
can take this idea away and use it, based on a conversation you’ve
probably had in your life where you were actually on the other side of the conversation, but I’ll explain all
that in a moment or two so you can actually use it
straightaway starting today. So here’s the solution. Rather than having one
offering and one offer, have either one offering with three offers or have three offerings
each with their own offer. Give you an example. Let’s say that the basic
service you do is X, whatever X happens to be in the context that you
would understand it to be, the service that you provide
or the product you provide. For most coaches and consultants,
it’s usually a service. I’m suggesting to you that you have an improved version of that, in other words, a higher version of it with
its appropriate pricing, and that you also have
a lower version of that with its appropriate pricing, why? Well, very often, there are
going to be clients who want to have more of what
it is that you and I provide. They want that extra level. They want to have the first-class service. They don’t want to sit
in the cattle class. They want business class or first class. So it’s a great idea to provide for them a first-class service as well as the standard service. So that’s the higher one, and I started doing this, by
the way, 47-odd years ago, and it really has paid
dividends, dramatic dividends, for both my clients and myself. But then some people do that, not many, but then what most people never do is have a lower version of it. So for those clients that
we’d still like to deal with, we’d still like to help them, who can’t afford, don’t have the time, don’t have the resources,
whatever it might be, to buy into our main offering and offer, then what we have is a
lower version of that, maybe but less content
of it, less time in it, but certainly at a lower price. And invariably, when we have three offers of either the same offering
with three different offers, in other words, it’s the same thing but
three different pricings or we have three different offerings each with its own price, then we give people more choice and it allows them to decide,
with our help, of course, which is going to be the
most appropriate for them. If we only have the one
offering and the one offer, we will miss those clients who want to spend more time with us, have more of the knowledge,
experience, and expertise that we can share with them, and happily, happily will
pay far more money for it, so we miss those. And we also miss those people, and there can be a vast
group of these people who simply don’t have the money to engage with us in the
way that we normally do it. So in the lower offer, let
me give you an example, this could be an online
version of what you do at a far lower price because
having once created it, then you don’t have to physically attend to make it happen. With the higher price one with the top version,
the first-class version, it may well be that it does
need more of your time, but because of that, you are far more highly
paid for your time. So I would urge you to take
those ideas away and use them. Now, here’s the little idea
I said I’d share at the end, and this is it. It may well be that sometime in your life, you’ve either yourself
or been with somebody who’s buying a new car. And if you’ve ever had this experience, you know what happens. You sit down with the salesperson, and they bring out their
very clever document, very clever document, and you’ll have seen
versions of this online with offers as well, by the way. And down the left-hand side
of this particular document, and I’ve seen this in a mini-dealership where the list was amazing, it was over pages and pages because of all the different models, and then on the right-hand
side going across the page, there was the various
options for those cars. So there was, let’s say,
there was the basic car, then you could add a different radio or you could add a heated seat or you could add whitewall tyres. That shows my age. Or whatever it might
be, you could add to it so you could build the
personalised version of it. Now, what that document was
doing was the gathering stage of finding out whether or
not you wanted first class, whether you wanted premium economy, or whether you wanted cattle
class, tourist class, ordinary, call it what you might. That’s a clever way of doing it, so maybe you could create your document in the same way the car dealers do to give you a process to follow so that when you’re talking to a client, you can be recording in the conversation the types of things they’re looking for so you then can propose the
appropriate level or service, or you could show them all
three levels of service and ask them to choose. I’m certain you can take
this away and use it. As I say, I’ve been
using it and teaching it for probably 47 years. Well, using it 47 years and teaching it for
certainly 27 of those years, and I have seen people
deliver massive value to their clients with it and make themselves an awful lot of money being rightfully and royally rewarded for the difference that they
make to their clients’ lives. So if you’ve got any
comments at all about this, then just pop them down there, and I’m happy to start a dialogue and answer any questions you might have. And in the meantime, I wish you every success in
all your adventures in life as you have freedom from anything that may have held you back and freedom to be, do, and have, always in that order, to be, do, and have whatever you set your heart and mind upon. I’ll see you on the next one. From me, Peter Thomson, goodbye for now. Thanks for watching. Subscribe and hit the
notification bell for more videos, then click to watch the next video. Remember to visit our
website at PeterThomson.com and download your free
copy of my latest book, “How to Write Your Business
Book in 5 Days or Less.” Until next time, every success. (upbeat music)

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