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Coaching Business Weekly Milana Leshinsky ACCPOW Founder & CEO Every week, you will receive coaching business tips on: - Practice Building - Practice Management - Passive Coaching Income I will also let you peek inside my own coaching business! I am candid and straight forward, and don't hold anything back. I will share with you what worked and what flopped!  Subscribe using the form below, and you'll receive instant access to all the past issues: Name: Email: *Your information is never shared, sold or given away

Contents:

- Editor's Message - Reporting from Million-Dollar Seminar in NYC
- Building New Business Through Referrals
- Housekeeping Links

Member Updates & Highlights:

  Feature Article:
- Consultant Continues to Grow Despite Regular Hate Mail
- How to Choose Your Link Partners
- How to Occupy the Kids While You Work 
 

Coaches & Consultants:  Discover How to Build Passive Income  Using Your  Existing Knowledge, and Enjoy More Well-Paying Clients At the Same Time:  http://www.accpow.com
 

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Editor's Message - Reporting from Million-Dollar Seminar in NYC
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Whew!  What a trip that was!  Busy, fun, cold and windy New York almost blew me away! :-)  The good news is, I have some excellent tips to share with you from the Coachville Million- Dollar Practice Seminar.  Whether you are a coach or a consultant, listen up - this information may change the way you work and conduct your business!

1. Always have a business model for your private practice. Make sure you know exactly what your revenue sources are, and what activities you should be doing to support them.  It may be too obvious, but very easy to miss.  And, if your only source of revenue is coaching or consulting, read the next tip and maximize your income, while decreasing the number of hours you work.

2. Working with coaching and consulting clients 6-8 hours a day, seven days a week will max you out pretty soon.  What can you do?

 - Create passive income sources: e-books, audio, video, & books.
 - Increase your hourly or monthly rate & work fewer hours.
 - Focus only on the activities with the biggest profit potential.

3. If nobody signs up for your coaching program or consulting services, "you're probably a crappy sales letter writer."  This doesn't mean that your program or product is bad, just improve your sales letter or hire a professional.

4. Don't pick all marketing activities for your business - pick ones you resonate with the most, and do them.  For me it's writing articles, conducting teleclasses, publishing a newsletter - so the pattern here is sharing useful content.  Marketing activities I don't enjoy are banners, press releases, e-zine advertising, etc. and so I rarely do any of these.

5. Creating information products accomplish two important goals for your business:  create revenue stream AND market your services at the same time.  Are you selling an info-product for your target audience?

6. And finally...the most important tip - drum roll please! - it is not about the lack of time (we all complain of not having enough time to market). If you find yourself coming up with the "no-time" excuses, something is going on there.  It may be that you're too overwhelmed with the number of marketing activities you can do... or with the number of places and people to contact. Or, may be you simply don't understand the technology behind it.  Pin-point the reason for your excuses, and work on eliminating them, or replace the "impossible-to-do" activitiy with something more doable and enjoyable.

Now, on to this week's issue.

Warmly,
Milana Leshinsky

ACCPOW, Executive Director & Editor
http://www.accpow.com

P.S. The FREE World Time Clock/Calculator Giveaway continues this week at ACCPOW.  Join us to receive it as a BONUS gift!  Please, note:  only 45 clocks left!  Hurry to get yours today!
 

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Member Updates and Resources
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Consultant Continues to Grow Despite Regular Hate Mail
100% of Frank's business comes from his web site. Based in Phoenix, Arizona, this sales consultant has been generating an amazing amount of business, publicity and media attention through his web site! So why so much opposition to the strategies he is teaching?  An exclusive interview with one of the top sales consultants and author, Frank Rumbauskas.

How to Choose Your Link Partners
Everyone tells you to exchange links with other webmasters.  But do you really know how to choose the web sites to link to? This excellent article explains exactly what you should look at before saying "Yes" to a link exchange request.

How to Occupy the Kids While You Work
Business moms will appreciate this advice, when it comes to entertaining your children during your work hours.  I personally prefer not to work when my kids are home, or not asleep, but when you absolutely have to work, this is a great strategy you can use!
 

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Building New Business Through Referrals
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by Angela Wu

One of the most effective ways to generate new business is to encourage customer referrals. That is, you can use the influence of happy customers to help your business continue to grow without having to rely on constant advertising.

This type of "word-of-mouth" advertising is well worth the time:

• Many people are so busy that they're more than willing to depend on the opinions or advice of trusted friends, family, or other contacts. It saves them from spending more time in research. 

• Referrals produce a 'snowball' effect. People often associate with those who are somewhat similar to themselves. Happy customers can refer others who they believe will appreciate your product or service. Those people, in turn, may refer others... and so forth. 

• Referrals are easier to convert into customers. An enthusiastic endorsement of your product or service by a respected contact has far more impact than a sales letter. Your credibility and expertise have already been established by your customer when the referral visits your business.

Referrals, however, don't just "happen". Sure, customers may love your product or service -- but that doesn't necessarily mean they'll tell you or tell their friends. Businesses can take a more active role to encourage referrals:
 

• Ask customers to mention your business to others. Leave a few extra business cards or brochures that they can pass on to their friends and colleagues.

You might also choose to offer a referral bonus or discount: free gifts, extra entries into a contest, whatever is appropriate for your business. 
 

• Follow-up. Ask your customers whether there's anything else you can help with, and whether they're happy with their purchase. If so, let them know that you would welcome any referrals.

Sometimes customers will contact *you* with a positive comment or a question. That is also a good opportunity to ask them to pass along your name, number, or website URL.

Take opportunities to stay in touch with your customers. For instance, consider sending a physical thank-you card with their purchase, or a greeting card during the holidays. It will help your business stand out from the crowd.
 

• Build your credibility. For example, many business owners write articles and make them available for reprint in exchange for a small "resource box" or blurb about their business. If a reputable site or publication runs your article, you instantly have more credibility, based on *their* reputation. 

Always thank the referrer, regardless of whether or not the person he referred becomes a customer. This will show that you appreciate him thinking of you. Reward his behavior and he'll be more likely to repeat it in the future. 

Encourage and reward referrals... and you'll continue to build your business day after day, year after year. 

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Angela is the editor of Online Business Basics, a practical guide to marketing a business on a beginner's budget. This guide offers loads of instantly useable tips and links, in a down-to-earth style that even marketing "newbies" can understand! A helpful Online Business Dictionary is included too...visit: http://onlinebusinessbasics.com/article.html
 

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Housekeeping Links
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See you next week,
Milana Leshinsky
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