Let’s say you are out at a networking event to find clients. You start having an engaging conversation with a person who fits your target and would be an ideal client. Then you get asked a question that stops you in your tracks: “Can you tell me how your coaching will impact my bottom line?”
For some, this type of question can throw you completely off. Maybe you haven’t had enough clients yet to be able to judge the impact. Or if your work is more mindset vs. tactics to grow business, responding can be challenge. So, how do you answer a question about quantifying your impact?
1. Talk about the Opportunity Cost of Not Coaching with You.
Most goals for business people are tied to money. But no matter what they try, without the right mindset, it’s possible those goals will not be actualized. If your prospect has a goal of earning $50,000 on a project and she doesn’t clear up her issues to meet the goal, that will be a $50,000 problem.
Another angle is to talk about the soft side of your impact. Many people don’t want to get to their death bed still wishing they had done the thing they dreamed of but never set their mind to make it happen. Avoiding regrets is a way of looking at the opportunity cost of not coaching with you.
2. The Answer Is Truly Client Specific.
Everyone is different. Someone may have the goal of doubling their business and that might mean getting to $100,000. But for another person that could mean a million dollars. So you when you find clients like this, ask what the person hopes to achieve to provide a specific response.
3. Entrepreneurs Know They Often Stand in Their Own Way.
Even though some business owners know they are getting in their own way, they can’t see how to work around that. They don’t know how to break these habits or aren’t even aware which habits are preventing progress.
For example, you may find clients with a concern about bringing on employees. Without your help to get past the resistance, this prospect can’t take this step which means he can’t alleviate the overwhelm by hiring more manpower to grow and achieve his vision. That’s an opportunity cost easily understood. Talk about playing a bigger game and building confidence.
Your Client Attraction Assignment:
Whether you are out networking or doing get acquainted calls to find clients, and someone asks you about your impact on the bottom line, you now have several ideas on how to respond. Ask what they stand to lose if they don’t work with you. That’s the easiest way to answer the question so prospects can feel the potential lost opportunity.