Growing the Business Coaches' Business
(About a 4 Min Read)
Elements does two things for business coaches:
- obtains more clients and
- helps them manage more clients.
Sounds familiar? Of course, it does.
Any business wants to:
- increase the number of active clients,
- see them more often and
- add billable value to their service or product.
This is what any business coach is trying to do.
This is exactly what any coach is telling their client to do.
Qualifying the Prospect
At the present time, Elements.app only targets the "low hanging fruit." Elements.app interfaces with Intuit QuickBooks On Line, Xero and MYOB (with more to come).
Elements.app works best with any business that has:
- regular and identifiable clientele,
- a sales item list and
- set prices.
Even if the business has one or two out of these three traits, Elements.app can still work well.
As an example, the business may be a cash only business. The owner has no idea where his clients come from and cannot identify them. Elements.app encourages the chat about setting up a loyalty system.
Elements.app does not work well for businesses that generate income by:
- carrying out long term contracts / projects
- tender or bid for work
The coach achieves the first step of qualifying the prospect. If the prospect does not use Intuit, Xero or MYOB, there is no point in talking to them.
(Leave a card with the prospect. If you can, find out how the client registers sale ie. POS, another cloud accounting app or bank feeds and send an email to firstname.lastname@example.org. We will keep a list of these requests and only time, we will assist most Elements. app advisors based on demand.)
But in the meantime, move on.
Moving "Suspect" to a "Prospect"
Elements.app provides an immediate historic analysis of the sales of the business. Cloud technology enables secure access with login and password. All information is safety encrypted according to accepted standards. Elements.app shows the trends and pivots of the sales "handles" being:
- number of active clients,
- number of sales transactions and
- average sales transaction value.
(Revenue is calculated from these three handles. It will equal the figure on the business trading statement. If the figures do not reconcile, see What to do if Growth Revenue does not agree with Business Trading Statement)
It examines nothing else in the datafile. Elements.app provides analysis and insights starting from the first of the datafile.
This immediately opens the conversation between the SME owner and the business coach.
The prospect has never seen anything like this. Sales, income, revenue generation! This is the area of the business that interests any business owner the most. Now, the business coach is "in their face". They are talking about the two more important questions of the business:
- "What happened" and
- "Why did it happened".
Elements.app provides the
The SME owner now wants to becomes the client of the business coach. He sees value NOW. The business owner is not alone anymore in running their business.
Elements.app dynamically analyses and monitors the SMEs sales key performance indicators.
- Active clients
- Number of transactions
- Average sales dollar value
"Elements.app" keeps the coach and SME owner informed, real time, here and now. Not with feel good, retroactive, passive, stagnant dashboard but meaningful data demanding action.
Elements.app is quietly working in the background 24/7 keeping an eye on business sales data.
Elements.app knows that:
If it ain't broken, don't fix it.
This is done through creating a library of meaningful, business specific Notifications. So only the "broken things" are being discussed and repaired. This promotes the "value for money" conversation on sales that all businesses need to have.
Elements.app provides the coach with meaningful data in real time. The coach does not have to spend time analysing results. The coach can react to trends. He can then provide insight and strategies meaningful to the business.
He and the SME owner must have "the conversation".
The coach has reason to connect with their client more regularly. The analysis is more meaningful and accurate so the coach can charge more. No more lost time trying to fix things that aren't broken.
Elements.app removes guess work and errors.
Elements.app makes the coach look good.
The coach can point to their successes captured in Elements.app reporting.
Ergo more value and increased consulting fees.
At a glance, the coach can work with the business owner to get the best clients.
The coach adds enjoyment to the business owner's sales effort. The business owner learns to work with the clients they enjoy and make more money.
In turn, the coach learns which clients they work better with. The coach enjoys the work more.
Co-Founder at Elements, Retired CPA and Company Coach with 35 years of experience building better businesses.