One of the main reasons small businesses, coaches included, fail to maximise their potential, is that they do not focus on selling. Small business operators by nature are technicians.

This practice is obviously counter productive to success. If you can not effectively sell your service, you’ll have little to no clients to deliver your service to. It’s similarly counter-intuitive to believe that high technical competence will underpin sales.

If you have few clients, and provide them the best service available, your business will still only grow organically at best. And besides, your clients have little to no ability to discern good technical competence from excellent technical competence. The effective marketer will ALWAYS outperform, in multiples, the technician.

Why selling effectively is crucial?

We often talk leverage. In business, how you leverage each function of your business will differentiate whether you just scrape by or make massive profits. If you can make an advertisement generate 100 leads instead of 20; get clients to purchase 5 times per year instead of 3; upsell clients to a $3,000 ‘package’ instead of the standard $1,500 offer; develop a referral process that generates 1.5 new clients per client.

These are examples of leverage. And this is where massive hidden profits exist in your business. How well you leverage your sales is critical to your success.

Advertising and marketing is one of the biggest cost bases in small business. The money you spend to acquire new clients directly impacts your bottom line profit. If it costs you $1,000 to acquire to new client worth $1,500, you make $500 bottom line profit. If you can reduce the cost to acquire that client from $1,000 to $500, you have effectively DOUBLED your bottom line net profit.

If you extrapolate that across your business you can effectively double your net income almost immediately. You can easily move from $30,000 income, to $60,000, to $100,000. Simply by improving this one stage in your sales process. This is the power and importance of selling.

One of the most important steps in effectively selling your coaching services and products involves building value. Once you’ve identified your prospects buying criteria through the qualifying phase, you need to build value into your proposition.

There are several ways to build value, including:

Quantifying cost/pain of NOT buying. Humans are a bazaar species. They’ll often go years and years in discomfort without seeking a simple solution. It’s likely your prospects have experienced the same problems and challenges, which you can assist them overcome, for a significant time.
 
This means they can survive without your service. It also means they’re well aware of the cost of NOT finding a solution. To make survival easier, people diminish the extremity of the problem or push it into their subconscious. You need to bring it abruptly into consciousness. You need to attach an emotional and financial value on it.

Theory of Contrast. Once you’ve brought your prospects challenges into their consciousness you can contrast the cost/ pain of not having it solved, with that of solving it.

Social Proof. You can build value in a very leveraged way by showing that your prospects peers (and particularly authority figures) are already using your service.

Focus on benefits. When building value it’s important to focus on benefits rather than features. Your prospects invest in, and emotionally attach to, the benefits of your service, not its features. As such you must communicate to them in terms of benefits.

Authority. When you establish yourself as an authority in your niche, rapport is a natural side affect. It’s like social osmosis.

Provide Proof. Where possible provide evidence that your service delivers value. This can be provided by detailed testimonials, data, reports, etc. Use this information in a manner that supports your claims and relates directly to the core benefits desired by your prospects.