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AMA Part 2: 22 more questions that you asked me!

Sometimes I run an Ask Me Anything for my private clients or my Facebook community. 

I’ve gathered together 88 of the most interesting questions and my answers from the last few sessions. 

You can read my answers to the first 22 questions here. Here are the next 22 questions… 

  1. What is the most important element of a successful mastermind group?

Set the bar high. You should feel a little Imposter Syndrome at the thought of running it. They should feel a little Imposter Syndrome at the thought of joining it.

  1. If you were to start your coaching business all over again what would you do differently?

Nothing. How do I know which mistakes and screw ups I needed to make in order to get the learnings I needed?

  1. What is your driving force? 

(1.) Love: I feel good helping people. I have a deep desire to make a difference in the world. I love connecting with people. I love learning. And I love adventure. 

(2.) Fear: I spent much of my childhood trying to prove myself to my father. I have no doubt that I’m still working on deep issues of not feeling enough.

  1. How do you recharge yourself when you’re exhausted?

I try to recharge myself before I’m exhausted. I take time out for myself: massages, walks with the dog, exercise, learning to race a high-performance car, attending magic shows, watching movies at the theater on my own. And I surround myself with a fascinating community of people – my own mentors as well as the members of 4PC.

  1. What’s your number one life lesson?

Stop asking other people for what they’ve learned about life. 

  1. The world of coaching seems so overcrowded. What should I do?

I wrote this in The Prosperous Coach, back in 2013…

“The problem with the coaching industry is twofold: the barrier to entry is extremely low, and the barrier to success is extremely high.”

Nothing has changed. 

But that’s not a problem. You need to set an intention to be extraordinary at what you do…

  1. I wonder if I’m choosing a safe, sheltered path, by staying with my company instead of launching my own business. How do I know what’s the right path for me?

You don’t.

  1. How do I get into action on an important goal that I never seem to follow through on?

It’s a “Deja vu goal” if you re-add it to your to-do list every week, or even every year. You don’t want to do it as much as you think you do. Take this goal off your To Do list. 

  1. How do you deal with dark times in your life?

One tiny step at a time. One day at a time. Plus, I move my body every day when times are hard. 

  1. What’s your favorite coaching question?

What are you tolerating? 

  1. What are your most unique or creative acts of service for a client?

Running a coaching session in a graveyard. Creating scholarships for fascinating people. Taking clients to drive Lamborghinis. 

  1. I’m an experienced executive but I’m completely new to coaching. I’ve just completed my coach training. What should I do next?

Take my 100 Powerful Conversations Challenge. Schedule 100 conversations over the next 30 days. Connect with 100 people and invite them to a conversation. You don’t need to speak with them all in the next month, just get the calls on your calendar. The purpose of this exercise is to get you past your fears of connecting with people.

  1. How do you handle your nerves when coaching CEOs of large corporations?

Let your curiosity be greater than your fear.

  1. You clearly do the work to stay grounded, calm, and centered. How does the inner work convert into dollars? 

The work you do on your inner peace will have the single biggest impact on the amount of money you make. And if it doesn’t, you’ll have something that money can never buy… inner peace! 

  1. What are the 5 most important questions you must ask in a discovery call to close a deal?

First, stop trying to close a deal. Instead, open a relationship. 

Second, here are the most important questions for a 20 minute chat, the first time you speak to a potential client:

(1.) If you called me in 3 years and told me that they’d been the best 3 years of your life – professionally and personally – what would you tell me?

(2.) What are the dangers ahead of you? (Internal dangers such as how you get in your own way. And external dangers such as the economy or your competitors). 

(3.) What opportunities are ahead of you?

(4.) What are your top 2-3 unique strengths?

(5.) What are the dark sides of these strengths?

(6.) That goal you want to accomplish – what have you done about it, so far?

  1. How do I release my need to control life – and live outside the box?

If you want to live outside the box, no one can guide you. You’ll need to find your own path, one tiny uncomfortable, uncertain step at a time. 

  1. How do you let go of stress, worry and concern? Do you recommend meditation?

A few years ago, I took a meditation course in the Himalayas. My teacher told me, “The true meditator can meditate in the marketplace.”

It’s easy to get to a state of peace in a meditation class or even listening to an app. What’s hard is bringing a state of tranquility to everyday life. 

I don’t always manage it, myself. I live a very real life. I sometimes get petty with my wife. I struggle raising my kids. I have arguments with my brothers. But I do my best and when I screw up, I clean up and move on or start again.

  1. Do you believe anyone can be an impactful coach, with a successful coaching business, if they are fully committed to it?

Nope. 

  1. Would you be open for a 30 min call with me?

Nope.

  1. At least I tried. 

You didn’t try very hard. People are highly unlikely to give up their precious time to speak to you – if they’ve never met you before – from a request in a Facebook group. If you want to build a successful coaching business, you need to learn to enroll people much more powerfully than that. 

  1. What’s your secret ingredient for success in the coaching world?

Longevity. It’s a hidden secret of success. A willingness to be in it for the long-haul, that most people don’t have, is a true competitive advantage. 

  1. How do I increase my chance for success in business?

There are 3 rules for success:

Rule #1: Get started. 

Rule #2: Keep going.

Rule #3: Get lucky.

How do you get lucky? Get started. Keep going.

This Ask Me Anything continues next time. Future questions include:

  • How do you create a great coaching website? 
  • How do you build an email list? 
  • How do you stop procrastinating?
  • Did you ever want to quit coaching?

Love. Rich

PS. More transparency here: almost 20 years into my coaching career, I still get nervous every time I launch a new program. When the first person signs up, it always feels like a fluke! And it’s only after the second person is in that I believe it’s real.

Well, the first two people have already signed up for The $100K Club, so strap in, we are ready to fly!!

There are now just 13 spots left at the early bird price. They include a gift ticket to my four newest programs (a $3,686 value bonus). Don’t miss this opportunity to join an exclusive group of coaches committed to growth and success.

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