Have you ever been having a great conversation with a potential client and then they give you a financial objection?
Maybe they tell you, "I can't afford it" or "I'd love to sign up but I'm not sure if I have the money right now."
What do you do? Is that the end of the conversation or is there a way to help someone prioritize the coaching and invest in working with you?
The short answer is that about 90% of the time there is a way forward through these types of financial concerns. The other 10% of the time there might be a legitimate financial obstacle that they need to honor. But often times "I can't afford it" is a smokescreen for a totally different concern.
In today's video I'm going to tell you what that real concern is and walk you through a series of steps you can take in order to help someone make a great decision for themselves (and hopefully sign up for your coaching):
- First, we want to get clear on whether or not they actually have access to the investment. Ask, "Just so I understand, if you invest in this coaching does that mean you won't have money to pay the rent next month, or is it that you have the money but you don't know if you'll get a return on your investment?"
- This will help you assess whether they are prioritizing something else above the coaching and if that makes sense in light of the conversation you've had so far.
- When people are investing in a service like coaching, it's less about them hiring you and more about them deciding to take the action that your coaching represents. For example, when people invest in a weight-loss coach they have to confront all their fears and anxieties around food. They have to be willing to change their diet, their lifestyle, and their belief around whether it's possible for them to transform this area of their life.
- Most coaches feel like asking follow-up questions about a potential client's concern will make them seem pushy. In reality, you're doing that person a service by helping them confront the truth of their situation and make a powerful decision. Often times the concerns that a potential client has about investing in your coaching are the same things that have been holding them back.
- Help them articulate the cost of inaction. This gives them something to compare the coaching investment to. If the cost of staying where they are or trying to figure it out on their own is greater than cost of your support, they'll sign up.
- At no point should you be trying to amplify or exaggerate the cost of inaction. You're simply holding up a mirror and having them reflect on whether it's acceptable for them to stay on their current trajectory.
- Do not abdicate your responsibility as a coach to help your client confront themselves simply because you do not want to deal with the tension of it.