And although you know\u2026<\/p>\n\n\n\n
\u2026that there are plenty of people who CAN afford coaching\u2026<\/p>\n\n\n\n
\u2026you just don\u2019t seem to know where to find them?<\/p>\n\n\n\n
In fact, you only seem to talk to everyone who CAN\u2019T afford it?<\/strong><\/p>\n\n\n\n You might think that you keep hearing \u201cthe money objection\u201d\u2026<\/p>\n\n\n\n \u2026because you\u2019re talking to the wrong people<\/span>.<\/p>\n\n\n\n wrong.<\/p>\n\n\n\n There are NO WRONG PEOPLE.<\/strong><\/p>\n\n\n\n In fact, there are coaching companies who coach people in jail<\/span>\u2026<\/p>\n\n\n\n on welfare\u2026<\/p>\n\n\n\n homeless\u2026<\/p>\n\n\n\n \u2026and these coaching companies are some of the most profitable on the planet<\/span>.<\/p>\n\n\n\n They solved \u201cthe money objection\u201d without endlessly searching for the next \u201chigh ticket client\u201d.<\/p>\n\n\n\n For instance\u2026<\/p>\n\n\n\n I had a client who gave up every time her clients told her they didn\u2019t have money for coaching.<\/p>\n\n\n\n Why?<\/p>\n\n\n\n She had her own issues around money.<\/strong><\/p>\n\n\n\n She spent too much money on a coach that wasn’t worth it<\/span>.<\/p>\n\n\n\n She felt betrayed<\/span> by that coach.<\/p>\n\n\n\n She felt swindled<\/span> by that coach.<\/p>\n\n\n\n She felt wronged<\/span> by that coach.<\/p>\n\n\n\n She definitely didn\u2019t want to be THAT coach.<\/p>\n\n\n\n So, instead of helping clients past their money fears\u2026<\/p>\n\n\n\n \u2026she gave up<\/span>.<\/p>\n\n\n\n She let them attend her group classes for free<\/span>\u2026<\/p>\n\n\n\n \u2026and had to get a part-time job to support her coaching practice.<\/p>\n\n\n\n Those were sad, struggling times for her.<\/strong><\/p>\n\n\n\n And she would\u2019ve had me believe that the whole problem was money<\/span>.<\/p>\n\n\n\n The problem wasn\u2019t even money when she enrolled with those expensive coaches in the past\u2026<\/p>\n\n\n\n Remember them\u2026 the coaches that failed to help her achieve her goals?<\/p>\n\n\n\n The problem with them was that they didn\u2019t provide value<\/span>.<\/strong><\/p>\n\n\n\n If she was with a coach that was WORTH the big money<\/span> she invested\u2026<\/p>\n\n\n\n If she got what that coach PROMISED<\/span>\u2026<\/p>\n\n\n\n If she was surprised and delighted with the VALUE<\/span> of their coaching\u2026<\/p>\n\n\n\n There would\u2019ve been\u2026<\/p>\n\n\n\n NO problem.<\/p>\n\n\n\n NO pain.<\/p>\n\n\n\n NO bad memories of spending money.<\/p>\n\n\n\n In fact, <\/strong>she would\u2019ve felt WONDERFUL about spending<\/strong> lots of money\u2026<\/strong><\/p>\n\n\n\n \u2026because spending money would\u2019ve meant HER DREAMS COMING TRUE<\/span>.<\/strong><\/p>\n\n\n\n After we had a few coaching conversations where she realized that…<\/p>\n\n\n\n …she started to enroll clients like crazy<\/span>\u2026<\/p>\n\n\n\n \u2026because she was already great at providing value.<\/p>\n\n\n\n My client didn\u2019t need to find more people to talk to.<\/p>\n\n\n\n \u2026so she could help her clients get past those obstacles.<\/p>\n\n\n\n AND she needed to make enough money so she could quit her other job<\/span>\u2026<\/p>\n\n\n\n \u2026and make an bigger difference in the world.<\/p>\n\n\n\n I told her,<\/p>\n\n\n\n \u201c…There are only 2 money issues.<\/em><\/strong><\/p>\n\n\n\n It\u2019s either REALLY about the money\u2026<\/em><\/strong><\/p>\n\n\n\n …or it\u2019s NOT.\u201d<\/em><\/strong><\/p>\n\n\n\n Her jaw dropped open as I shared the details\u2026<\/p>\n\n\n\n Why would a prospective client claim that they have a \u201cmoney problem\u201d with coaching when it\u2019s something else<\/span>?<\/p>\n\n\n\n Because it\u2019s more socially acceptable<\/span> to claim it\u2019s about the money than to admit:<\/p>\n\n\n\n Then that coach asked me \u201cBut how do I figure it all out?\u201d<\/em><\/strong><\/p>\n\n\n\n \u201cFirst, you need to discern the difference between a money issue and something else.\u201d<\/em><\/strong><\/p><\/blockquote>\n\n\n\n So I explained the key\u2026<\/p>\n\n\n\n “Ask some probing questions<\/span> around the money issue.<\/em><\/strong><\/p>\n\n\n\n Be curious.<\/em><\/strong><\/p>\n\n\n\n Be empathetic.”<\/em><\/strong><\/p>\n\n\n\n Try a few of these:<\/p>\n\n\n\n Your client’s answers to these questions will help you know if<\/p>\n\n\n\n Or, if the money issue is not the MAIN problem.<\/p>\n\n\n\n Let\u2019s explore the two primary discoveries:<\/p>\n\n\n\n Help your client resolve their money gap<\/span>. You could:<\/p>\n\n\n\n Or, get really creative…<\/p>\n\n\n\n Offer a coaching plan that they can\u2019t turn down<\/span>.<\/p>\n\n\n\n For example: I coached a man for $50 the first month…<\/p>\n\n\n\n …then added $50 to their monthly fee ($100, $150, etc.) every month<\/span> until he was paying my full coaching fees.<\/p>\n\n\n\n Ask your client, \u201cWhat needs to change for you to be able to afford coaching?\u201d<\/em><\/strong><\/p>\n\n\n\n Uncover the pain your client will experience if they don\u2019t resolve their money limitations (and the pleasure they will experience if they do).<\/p>\n\n\n\n If money isn’t the real problem that stops your prospect from enrolling in coaching…<\/p>\n\n\n\n …that means SOMETHING ELSE is stopping them<\/span>.<\/p>\n\n\n\n Your job? Identify the hidden issue<\/span> that’s really in the way.<\/p>\n\n\n\n Why argue the money with a client when it\u2019s not the issue?<\/p>\n\n\n\n It\u2019s better to appreciate their money concerns, and then discover their true barrier. Try:<\/p>\n\n\n\n \u201cI understand your concerns about the cost. Besides the cost, what are your other concerns?\u201d<\/em><\/strong><\/p>\n\n\n\n Or \u201cIf we made it so my fees weren\u2019t a problem for you, would there be anything else that would stop you from enrolling in coaching today?\u201d<\/em><\/strong><\/p>\n\n\n\n Your prospective client may have an issue that money REPRESENTS in their mind<\/span>, even though that issue is NOT really a money issue.<\/p>\n\n\n\n Here are a few examples of issues that your client may \u2018mis-represent\u2019 as a money issue<\/span>:<\/p>\n\n\n\n Money represents commitment<\/span> for lots of people.<\/p>\n\n\n\n If your potential client is concerned about making a commitment to coaching<\/span>, they may bring up money instead.<\/p>\n\n\n\n When I discover a commitment issue is there for a potential client, I attempt to reassure them<\/span> by saying:<\/p>\n\n\n\n \u201cYes, coaching takes a long term commitment from you, but I\u2019m also committing to YOU in the long term as well<\/span>\u2026<\/em><\/strong><\/p>\n\n\n\n That commitment GOES BOTH WAYS.<\/em><\/strong><\/p>\n\n\n\n You wouldn\u2019t expect me to put aside large amounts of my time and energy without you being committed to your coaching as well, would you?<\/em><\/strong><\/p>\n\n\n\n The bottom line is that, if coaching is not working out for you, or you really don\u2019t want to continue, I can\u2019t make you continue to show up<\/span>.<\/em><\/strong><\/p>\n\n\n\n You\u2019re still in charge<\/span>, and every session you show up for is STILL YOUR DECISION.<\/em><\/strong><\/p>\n\n\n\n But you have to have some flesh in the game<\/span> if you expect the same from me. That\u2019s the ticket in.<\/em><\/strong><\/p>\n\n\n\n After a few weeks this \u2018coaching honeymoon\u2019 will be over and the hard work will begin. You\u2019ll need enough commitment to break through that \u201cglass ceiling\u201d, or token resistance alone will stop your progress.<\/em><\/strong><\/p>\n\n\n\n If you\u2019re committed to coaching, that \u201cglass ceiling\u201d will quickly become a \u201cglass floor\u201d, which means you\u2019ve broken through to the next level.<\/em><\/strong><\/p>\n\n\n\n If you\u2019re committed to coaching, that \u201cglass ceiling\u201d will quickly become a \u201cglass floor\u201d, which means you\u2019ve broken through to the next level.<\/em><\/strong>“<\/p><\/blockquote>\n\n\n\n But if you think you\u2019ll get that kind of breakthrough without skin in the game, you\u2019re deluded.<\/em><\/strong><\/p>\n\n\n\n I can\u2019t work with you if you\u2019re ‘iffy’<\/span>, and you wouldn\u2019t want a coach who would put up with that anyway.\u201d<\/em><\/strong><\/p>\n\n\n\n BOTTOM LINE: If they resolve their commitment issues, the money issue might disappear<\/span>.<\/p>\n\n\n\n Money represents value<\/span>.<\/p>\n\n\n\n What does your client feel they will get (value received)<\/span> versus what they\u2019ll pay you (value lost)<\/span>?<\/p>\n\n\n\n If you help your client see the true value they\u2019ll get from coaching<\/span>, the money might magically show up.<\/p>\n\n\n\n Money represents stability and survival<\/span> for most people.<\/p>\n\n\n\n If your potential client feels that paying your fee threatens their stability or security<\/span>, they may feel the risk is too much.<\/p>\n\n\n\n They usually won\u2019t tell you<\/span> they’re afraid of taking a risk\u2026<\/p>\n\n\n\n \u2026they\u2019ll bring up money as their problem instead.<\/p>\n\n\n\n If they resolve their issues around taking a risk<\/span>, the money issue might disappear.<\/p>\n\n\n\n (NOTE: If you\u2019ve been waiting to start your coaching business, or were wondering if you can do it profitably, then you need to watch this video<\/a><\/strong>. In the video, I\u2019ll explain how to How to Build a Profitable Coaching Business in 30 Days<\/a><\/strong>. Click HERE now<\/a><\/strong> to watch the video<\/a><\/strong>.)<\/em><\/p>\n<\/div><\/div>\n\n\n\n Some people feel that the way they handle their money represents who they are (their Identity)<\/span>.<\/p>\n\n\n\n If your potential client feels their investment in coaching somehow threatens their identity<\/span> connected to their money management, they may bring up money as the problem.<\/p>\n\n\n\n For example, I just signed up a client who prides himself on how thrifty he is, even though he makes high six figures every year.<\/p>\n\n\n\n As I drilled deeper into his money hesitation, he revealed that he was saving up for a home for his new family.<\/p>\n\n\n\n I realized that his entire identity as a good husband was wrapped up in his stinginess<\/span>.<\/strong><\/p>\n\n\n\n When I showed him how his underinvestment in himself could cost him his future<\/span>, he immediately enrolled in coaching.<\/p>\n\n\n\n Now the same \u2018successful husband\u2019 identity (that was driving him AWAY from coaching) was motivating him TO ENROLL!<\/strong><\/p>\n\n\n\n![\"Dollar](\"https:\/\/coachestrainingblog.com\/becomeacoach\/wp-content\/uploads\/2022\/01\/dollar-money-objection.jpg\")
<\/a><\/figure>\n\n\n\nMost coaches get stuck in learned helplessness<\/span> around the money objection.<\/strong><\/h2>\n\n\n\n
But the problem wasn\u2019t MONEY.<\/strong><\/h2>\n\n\n\n
She needed to dive below the surface reasons<\/span> why her clients weren\u2019t enrolling\u2026<\/strong><\/h2>\n\n\n\n
\u201cFirst, you need to discern the difference between a money issue and something else.\u201d<\/em><\/strong><\/h2>\n\n\n\n
If money is the problem:<\/strong><\/h2>\n\n\n\n
<\/a><\/figure><\/div>\n\n\n\nIf money is not the problem:<\/strong><\/h2>\n\n\n\n
First, Explore your client’s other concerns:<\/strong><\/h2>\n\n\n\n
Second, discover what money SYMBOLIZES<\/span> for your client:<\/strong><\/h2>\n\n\n\n
Commitment Issues:<\/strong><\/h2>\n\n\n\n
Value Issues:<\/strong><\/h2>\n\n\n\n
Risk Issues:<\/strong><\/h2>\n\n\n\n
<\/a><\/figure>Identity Issues:<\/strong><\/h2>\n\n\n\n