Ep #251: Consult Strategies During Economic Recessions
Oct 18, 2023
auto_awesome
Learn practical ways to improve consults and make more sales during an economic recession. Understand the importance of effective communication, clarity, and creating a safe space for potential buyers. Also, explore the significance of compassion in coaching and living intentionally.
Coaches can still make money during economic recessions by creating a compelling argument for potential clients to invest in their coaching services and highlighting the emotional experiences and value they will receive.
Successful consultations during economic recessions prioritize clarity about the value provided, addressing confusion and objections with empathy, offering support, and showcasing the positive benefits and outcomes of coaching.
During sales calls, focus on creating a safe and compassionate space where clients feel heard and understood, by dropping into your heart, showing empathy, and addressing their concerns with love.
Deep dives
The Power of Consult Strategies During Economic Hardship
During times of economic hardship, it is crucial to understand the power you have and how to ensure you still get paid. In this podcast episode, Stacey Baimin discusses consult strategies that coaches should be thinking and implementing when the economy is tighter and people are more cautious with their spending. By being clear about the value you bring and the steps in your process, addressing confusion and objections, and providing ample support and value ahead of time, coaches can navigate economic downturns and still connect with potential clients. It is important to create a safe space for clients to express their concerns and objections, and to show them how investing in your coaching can bring them positive emotional experiences. By being sharp in evaluating each consult and maintaining a mindset of continuous improvement, coaches can adapt and sell better in any economic climate. Finally, having fun, offering support, and giving more value than ever before are essential in demonstrating that now is the right time to invest in their growth.
Understanding the Impact and Varied Effects of Economic Contractions
In this podcast, Stacey Baimin provides insights into how economic contractions can affect different individuals in different ways. While some coaches may find it harder to sell during economic slowdowns, others may experience more success and increased revenue. It is important to recognize that economic contractions impact each person differently, and there is no one-size-fits-all response. Some potential clients may be more reserved and cautious about spending their money, while others may still have the means for investments. Baimin emphasizes the need to focus on creating a compelling argument for potential clients to spend their money on your coaching services, highlighting the emotional experiences and the value they will receive. She also urges coaches to see economic contractions as an opportunity to improve their skills, sharpen their sales strategies, and become more resilient, knowing that success is possible regardless of external challenges.
The Importance of Clarity, Support, and Value in Consultations
Stacey Baimin outlines key factors that contribute to successful consultations during economic recessions. Coaches should prioritize clarity about the value they provide and ensure their processes and offerings are straightforward and comprehensible to potential clients. By addressing confusion and objections with empathy, coaches can create a safe and open space for clients to share their concerns. It is crucial to offer support and demonstrate the value of investing in coaching, especially during challenging times. Providing even more value ahead of time through marketing efforts and showcasing the positive benefits and outcomes of their coaching can make the decision to invest easier for potential clients. Additionally, Baimin highlights the significance of having fun and maintaining a positive mindset, while also acknowledging the importance of evaluating each consultation and continuously improving sales strategies.
Focus on Connecting with Clients
During sales calls, it is important to focus on connecting with the clients and understanding their needs and fears. Instead of pushing for a yes, the goal should be to create a safe and compassionate space where clients feel heard and understood. By dropping into your heart, showing empathy, and addressing their concerns with love, you can build trust and help them make an informed decision.
Embrace What You Can Control
In uncertain times, it is crucial to focus on what you can control both in your own sales process and while guiding your clients. You cannot control external factors like the economy, but you can control how well you present your offer and help your clients navigate their own decision-making process. By emphasizing the aspects that they can control, such as saying yes and taking ownership of their own goals, you can empower them to take action and achieve the results they desire.
Economic contractions affect everyone differently, but we have evidence that it’s still possible to make money. There are some super-useful thoughts that will serve you in coming up with a consult strategy that makes you money during an economic recession, and I’m diving into all of them today.
Discover 10 practical and impactful ways you can improve your consults and make more sales during an economic downturn. I’m discussing the thoughts that will serve you in making money during any recession or time of financial hardship, and showing you how to implement these thoughts as you come up with offers and start selling them.
If you want to start making serious money as a coach, you need to check out 2K for 2K. Click here to join: https://staceyboehman.com/2kfor2k!
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode