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If you’ve got skills, you should leverage them to start an online coaching business.
That certainly seems to be the idea behind The Prosperous Coach, a book meant to help coaches increase their income, or help budding coaches start their coaching businesses.
If you’ve been reading this blog for a while, you know I’m here for all things entrepreneurship.
Especially when these resources are meant for people who are first starting their online businesses.
Entrepreneurship can be a lonely road but with good mentors, it’s much easier to generate significant revenue.
Today, I’m going to review The Prosperous Coach by Steve Chandler and Rich Litvin, to show you how they plan on helping you become a coach and make money.
Let’s get to work!
As such, they’re the right people for the job of writing The Prosperous Coach; they definitely know their stuff.
Digging deeper into their biographies (Chandler is 76, while Litvin is significantly younger), I immediately noticed that they’re a powerful duo: Chandler has decades of experience, and Litvin knows how to leverage digital tech to succeed.
Steve Chandler was born in 1944, and he graduated from University of Arizona.
Despite his degree in Creative Writing and Political Science, he spent a lot of time researching psychology.
When you’re an entrepreneur or a coach, that’s a must. And it turned out, it was a good subject to research.
Right now, Chandler has 30 books that were translated into 25 languages under his belt.
He knows what makes people tick, and he’s a great speaker.
He ran various programs that taught other coaches how to increase their revenue and make their clients even happier, in addition to having his own clients and being a client of other coaches.
To put it simply: Steve Chandler lives and breathes coaching, and has done it for 50 years now.
Rich Litvin is younger than Chandler, but he has plenty of achievements behind him.
He runs a leadership consultancy in LA and London, and has coached world leaders, in addition to others:
He also runs a program for the world’s 40 most successful consultants and coaches, so he knows a thing or two about becoming massively successful through unique methods.
The Prosperous Coach is a culmination of both of their experiences, and here’s what you can expect to learn:
The cover of the book "The Prosperous Coach"
The Prosperous Coach: Increase Income and Impact for You and Your Clients shows you how to increase your income by increasing your clients’ incomes.
Litvin and Chandler approach coaching businesses from a holistic standpoint, covering both marketing and providing value through your services.
And with over 60,000 copies sold, The Prosperous Coach has helped countless entrepreneurs start a business.
Now, I’m not going to judge the book by its cover.
Instead, it’s time to dig into the core concepts Litvin and Chandler discuss:
“The kind of clients you would love to work with are only created in a conversation. And high-performing, high-paying clients are only created in impactful, life-changing coaching conversations.”
This is one of my favorite quotes from The Prosperous Coach.
In two sentences, Chandler and Litvin explain the best way to acquire clients: start talking to them, and understand how you can help.
Ask the questions no one else would, and give them advice that resolves their pain points, instead of trying to mimic the advice you’ve heard online.
Be honest, be bold, and help.
Both Chandler and Litvin emphasize the need for deep coaching and consequently, deep conversations that lead to successful client acquisition:
They also emphasize the experience of coaching.
There’s a big difference between paying for the experience of 2 hours of deep conversation, and seeing deep understanding in the faces and solutions of their coaches, and paying for a quick session that leaves your clients feeling empty.
For example, Litvin offered quick coaching sessions in the beginning of his career.
With time, he realized that 30 minutes just weren’t enough to get the right clients by giving them a taste of what the coaching experience looked like.
If you’ve read my review of Russell Brunson’s book, DotCom Secrets, you can connect deep coaching to the idea of the value ladder: you have to start by offering value to your leads, and then keep on adding value as they convert into customers.
It’s an excellent way to sell, and retain your clients so you can maximize their value.
If you’ve done any research on online business, you probably know how valuable lead magnets, materials that bring clients to you, are.
I spend a lot of time talking about their role in the sales funnel, and so do Litvin and Chandler in The Prosperous Coach.
In addition to meeting people in person, you should also use lead magnets such as:
All of these will draw in potential clients, which you can then convert through meaningful conversations.
For a long time, plenty of marketing and coaching gurus have advised you to scale, scale, scale.
Unfortunately, the value of your coaching services could go down the drain if you’re not focusing 100% on the client in front of you.
But in order to help your client, you must first understand them.
Chandler and Litvin recommend that you don’t stop at the basic goals your clients tell you about.
Instead, dig in deep into why they have those goals, and what their underlying desires are.
For example, someone might want to start a new business because they want more security for their family. Others want to receive recognition.
Understanding your clients’ motivation can help you help them not only become successful, but become satisfied with their lives.
This works for both business and personal coaching, as well.
Find the goal behind your client’s goal.
Again, Litvin and Chandler have an approach that’s vastly different from what other coaches preach. Instead of “laying it on thick” with all the goodies and coaching hours your clients will get, you have to show, not tell.
So, drinking their own kool-aid, the authors show you all the ways you can understand your clients’ lives, and help transform them.
The authors also have quite a few things to say on how to seal the deal, AKA convert your coaching prospects and make them sign up for your services.
If the two-hour conversation is your symphony, then conversion is the big crescendo at the end of it all.
One of the ideas for contacting your potential clients after the conversation includes sending a recommendation.
Instead of asking them if they’ve decided to sign up, you can gently jog their memory by providing even more value.
Again, what I really love about the book The Prosperous Coach is that Chandler and Litvin don’t come from the “get money FAST” school.
Instead, they double-down on providing value as a coach, and turning that into your main differentiator, and the main client acquisition tactic.
They’ve got my vote!
Similarly, when the conversation is drawing to a close, you should focus on your clients’ desired life idea.
Don’t ask your potential clients: “Are you ready to sign the contract?”
Ask them: “Are you ready to turn that brilliant vision into a reality?”
To close the deal by doubling-down on the prospect’s goals, The Prosperous Coach recommends using some of the following questions:
With that, you’ll shift the focus back to your clients’ desires.
They won’t be thinking about your fee anymore.
They’ll be thinking about the goals they’ll achieve by working with you and paying you your fee.
Did you know that 88% of consumers trust online reviews just as much as personal recommendations?
Chandler and Litvin do.
That’s why they dedicate a portion of The Prosperous Coach to collecting testimonials, i.e. social proof that you can display to both convince your clients and yourself of the value of your services:
The Prosperous Coach is full of examples of the authors’ clients and their success stories.
Not only did that convince me that they know what they’re talking about, but it’s also going to convince a lot of prospects that these two coaches can help.
Again: show, don’t tell.
Before I give you my personal opinion, let’s take a look at some of the recognition The Prosperous Coach received:
I know, we’ve all read books that promised to help us succeed, and in the end, only succeeded in upselling us to their courses.
The Prosperous Coach is different.
Both Steve Chandler and Rich Litvin have a lot of experience with deep coaching: coaching that truly helps transform clients’ lives.
And if you want to start an online coaching business, The Prosperous Coach is going to be a major asset.
Go for it!
Once you’ve absorbed all the lessons in The Prosperous Coach, it’s time to start acquiring customers.
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