For over a decade I’ve taught a long term approach to creating clients. It’s a powerful approach at the best of times. It’s even more powerful in challenging times.
Here are two distinctions to support you surviving and thriving in the days and months ahead. The first will help you survive, the second will help you thrive:
- Survive… Truth vs Hope. Get real about your financial situation
- Thrive… Serve. Serve. Serve. Create value for every current client, former client and potential client
1. Truth vs Hope. Get real about your financial situation
It’s time to get real about your financial situation. This isn’t about hoping you’ll sign a client next week. If you need money right now, please take the steps that you can to take care of your family.
ANALYSIS: Run the numbers on your business
Here’s the minimum you need to know. There are plenty of resources online to help you do a much more comprehensive financial analysis.
- [Cash] How much cash do you have in your accounts?
- [Income] How much money is due to be paid to you, in the next 30 days?
- [Expenses] How much money do you need to pay to others – from payroll to vendors to landlords, etc. – in the next 30 days? (Variable expenses & Fixed expenses, Business expenses and Personal expenses) What payments can you extend? (Loan, rent, mortgage, etc)
ACTION: Write down a specific plan to get you through the next 90 days
Include ‘What if…’ scenarios:
- What if my client pauses their coaching?
- What if my contract gets cancelled?
- What if I pause my mortgage payment?
- What if I take out a small business loan?
If you have a team…
Don’t try to be a hero. Tell your team everything. Don’t hide things to protect them, or because you’re embarrassed. If you’re clear and honest, they’ll rally around to support you. Your honesty and vulnerability is your strength with your team, right now.
Be honest…
As they say in the 12-Step Community, “You’re only as sick as your secrets…” Be brave. Look at your numbers. Hope isn’t a financial strategy. Run ‘What if…’ scenarios. Talk things through honestly with your partner, your bookkeeper, your team.
2. Serve. Serve. Serve. Create value for every current client, former client and potential client
To thrive in the months ahead, you will need to double down on the long-term thinking and “serve your ass off” mentality of The Prosperous Coach Approach.
Here’s what I’m doing for my private clients and for my community, right now.
- Your 1:1 Clients
All my 1:1 clients and members of 4PC have my personal cell phone number and I’ve now told them they can text me any time. I’m also hosting twice weekly group coaching calls for anytime who wants support or connection – at 7am, before my kids are awake.
Go the extra mile for your clients…
- All your clients
Project Kairos is my community of leaders, focused on one thing – creating clients. We use Slack as a messaging app for them to ask me questions or for coaching between our calls.
And I’ve started doing something I never do. I’ve turned on notifications for their messages. It’s like they now have a Hotline to me.
Go the extra mile for all your clients…
- Your community
I’ve decided to lead a Zoom call for my entire community, once a week, for the foreseeable future. It’s a group coaching call for everyone who has ever been a client or attended an Intensive.
Go the extra mile for anyone who has ever been a client…
- Beyond your Community
I recorded a teaching session on 14 Lessons to support leaders in challenging times. We’ve sent this out to thousands of people. I’ve had feedback from 20-something children of clients and even their parents, that they got value from watching it.
And I’ve created a pop-up Facebook group – called Serve Lead Serve – where I can support my wider community. We had over 1,000 people join in 72 hours. I’m in there most days, answering questions and supporting people.
KEEP going the extra mile…
How do you want to be remembered?
A member of my community was a child during The Siege of Sarajevo, in the early 1990s. This was the longest siege of a capital city in the history of modern warfare.
I asked him for his advice on how to survive and thrive in challenging times.
He said, keep asking yourself: How do you want to be remembered?
I love you. I’m here for you. And my small but incredible team are going the extra mile for our community, right now.
Loving you.
Rich