Successful Coaching and Consulting Secrets (Part 1) by Dan Lok

 

Successful Coaching And Consulting Secrets - YouTube

 

Is Coaching & Consulting For You?

 

PROS

• It's easier and more fun to solve other people's problems than working on your own.
• Great career for entrepreneur who typically get bored easily. (Could also be a great additional profit center)
• You learn a lot, get inside other people's heads and businesses.
• You enjoy higher status and associated perks.
• Incredible income potential if structured RIGHT.

CONS

• It can require you to work like a slave and drain all your time and energy if you don't set it up right.
• If you follow the tranditional models, very often, you're stuck with limited income.

 

What's the Difference between a Coach and Consultant

Most people don't know what exactly a coach is supposed to do. They only have rough ideas.

 

Consultant

• "Someone who knows 101 sex positions but can't get a date on a Friday night"
• They know lots of things, but sometimes they can't solve the actual problems for their clients or for their own.
• "An individual who has specific knowledge in their area of expertise and is paid to implement or advice in this area"
• They can work with an individual or a company, but does not not usually have the relationship quality as does a coach.

Consulting

 

• Consulting focuses on problem solving, strategies, execution, action plans, goals.
• Only for a specific area; management consulting, business consulting, matchmaking consulting, etc.

 

Coach

• works with their client to constantly motivate and guide the individual to achieve greater heights.
• can specialize in areas such as sales, wealth creation, health, personal success, spiritually and just about anything that you can conceive.

Coaching

• A new set of speciliazed skills where you are working with an individual or group and help them to focus on particular goals.
• You have a goal and coaches kind of work alongside with you, motivate you, guide you and maybe give you some tips on how to get there.

 

If you think about the whole coaching, consulting business, look at the industry in general, generally most of them the quality is pretty bad. They are very few people who are excellent. 

 

 

Why You Need A Mentor

 

Consultant + Coach = Mentor

Mentoring is the art of teaching a select individual to replicate the mentor's success. It's more than coaching and consulting because it's based on a long-term relationship.

 

A mentor is a complicated individual who shares his personal experience (success and failures), teaches, specific knowledge (consulting) as well as motivates his Mentee (coaching).

 

A mentor is a higher standard, because as a mentor, you're leading as an example. You're somebody's role model. You cannot be a mentor on fitness if you're fat. You cannot be a mentor for wealth creation if you're poor. You cannot be a mentor for someone else if you haven't done it.

 

What is mentoring?

It's a business. It's a special relationship. It's a profession. It's a concept of teaching. It's a means of communication. It's a way of life.

 

In order to sell consulting and coaching, you need to understand why people buy consulting and coaching. You got to understand. And it's totally NOT what you think.

 

 

What does a Consultant Do

 

Consulting 101: what does a consultant do exactly and why people buy consulting?

• Specialized Knowledge
• Fresh Eyes (Bird's Eye View)
• Out-of-the-box Questions
• Discover Hidden Opportunities
• Connections
• Resources - programs, books, library, ...
• Challenge Pre-Conceived Limits
• Implementation
• Accountability
• Recognition - they need recognition for their hardwork and success.
• Validation - they know what they need to do, and they need a little bit of a push
• Movitation
• CERTAINTY - You're selling certainty in an uncertain world

"Sometimes even though maybe my advice is not exactly perfect, by just giving them that motivation, giving the client a little bit of CERTAINTY, THEY MOVE FORWARD A LITTLE BIT and then WE CAN PIVOT. AT LEAST THEY MAKE PROGRESS."

 

Unfortunately, a lot of coaches and consultants are not very comfortable. They're not very certain of their abilities. Becuase they are not good and uncertain about themselves and their expertises. How could they provide CERTAINTIES to the marketplace?

 

Results and expertises, they are assumed. They assume you have that. My question is, how many things could you provide out of the list above? One, Two, or bunch of things?

 

 

Why People Seek Consulting

 

• Get information they need directly, quickly, easily
• Obtain access to coach's contacts and resources
• Lack of certainty
• Difficulty making decisions
• Overwhelm with life
• Overwhelm with information
• Transfer of responsibility
• To have someone listen to them
• To be able to "process" with someone
• Approval of ideas, or conversely, talked out of something
• Encouragement and motivation (to feel validated)
• Someone to share success and celebrate win

"Information is data. WISDOM IS KNOWING WHAT NOT TO DO. The things that I don't need to do. Minimum effort, maximum result. What's the path of least resistance. that's wisdom. There are a very few people can tell you that."

 

"They have a problem but they like to process it, talk it out and brainstorm with somebody versus just sit down and think about the problem. As they are talking, they are trying to come up with solutions."

 

Harry Beckwith, <Selling the Invisible>

보이지 않는 것을 팔아라 국내도서 저자 : 해리 벡위드(Harry Beckwith) / 양유석역 출판 : 더난출판 2006.04.07 상세보기

 

If you are selling a service in most professional services, you are really not selling an expertise BECAUSE YOUR EXPERTISE IS ASSUMED and BECAUSE YOUR PROSPECT CANNOT INTELLIGENTLY EVALUATE YOUR EXPERTISE ANYWAY.

 

How would your prospects know if you're good or not before they hire you? So they assume that you're good at, but they really don't know until you help them. So think about what you do. They don't know how good you are until they do business with you. So how could you sell your expertise?

 

So turn that around. Don't think of all I need be so good, awesome and have +10 years experience. Your marketplace, most of the prospects can't tell the difference - UNLESS WE TELL THEM WHY WE ARE DIFFERENT. It's our job to tell them and present what we do in different ways. It's not their job to understand why you are different. It's yours.

 

Our job is to influencce, to present a case of why we are better and why we're different. It's not their job to know, they don't have time to know.

 

 

What You Must Know About the Consulting Business

 

If you're selling a service, you're selling a relationship.

And relationships are about feelings.

 

People buy because of what you sell, but they stay with you because of who you are.

 

What are you doing to maintain and strengthen the relationship? It's not just transactional. If you are just a transactional consultant, they pay you some money, you do some work, but you'll have a tough time to get a good amount of money in this business. Because lots of people can do that. You want a transformational relationship, not a transactional one. 

 

A transformational relationship means that you're not being seen as a commodity. It's the work that you do, has a big enough impact that it enhances their lives or business in some meaningful ways. 

 

What determines if it's a transactional relationship or a transformational relationship? HOW YOU VIEW WHAT YOU DO. You think what you do is just to do what your client wants? It's transactional because you care but you are not attached. You think what you do can bring out the real inner self of your client, make an actual impact to their physical life, it's transformational, because they must feel something. Something different. Something emotional. "Attachment".

 

There are many factors that contribute to their success or failure. You're just one of them. Maybe 30 factors. If you make a decent suit, good quality and cheap price, it's transactional. If you make a decent suit that changes your customer's attitude, self-esteem and life, it's transformational. You are attached to your client, you make meaningful impacts on multiple factors. And sure it makes differences, it makes an emotional feeling.