From Aspiration to Achievement: A Guide for Coaches on Implementing Financing Options for Accelerated Business Growth
Published March 5, 2024
From Aspiration to Achievement:
A Guide for Coaches on Implementing Financing Options for Accelerated Business Growth
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Coaches who are looking for more clients to hire their services face a litany of obstacles and challenges in today’s crowded marketplace. Among the most difficult to navigate is the client who wants to enroll in a course or bring on a consultant for one-on-one sessions, but is hesitant to do so due to the cost of the service.
The client realizes the need for coaching, trusts in your valuable insights, agrees the rate is fair, and yet, can’t convert on a sale because they don’t have the cash flow to cover costs at this moment. The answer might be “let me think on it” or “I need to wait until I can fit this into my budget next month”. These responses offer no assurances or guarantees that your potential client will proceed with hiring your coaching services sometime in the future.
The result is a delay that negatively impacts the client and puts your coaching business in the difficult position of waiting to generate revenue. Your company’s income relies on a robust and consistent customer base and when those clients are unsure or reluctant to move forward with hiring a good coach like yourself, the business you’ve worked so hard to build can come crashing down before you know it.
But what if there were a good strategy to speed up the decision making process, bring in more potential customers, and blaze a faster trail towards long term success? That strategy is coach financing through Fund My Contract.
Stronger Business Development with Coach Financing
Maybe you’ve heard of financing but aren’t sure how it works. Maybe the idea of offering financing to your clients is something you hadn’t considered before. Maybe the time is now to start giving your clients the spending power to hire your coaching services with financing options that can fit any budget.
Financing has been a critical factor for many entrepreneurs who are eager to develop strategies that expand reach to more clients, generate revenue quicker, and grow the business at a faster rate. Fund My Contract can help, putting you in touch with our network of third party lenders who understand the pitfalls and obstacles that every successful company has faced throughout their development. These lenders work with you to create financing options that can accelerate your growth by reducing the barriers to conversion your clients have a tough time navigating.
How Financing Can Improve Business Performance
New and existing clients already know you provide invaluable guidance on reaching business goals or offer tutelage in essential technical skills or teach clients how to manage cash flow, whatever your core competencies may be, you have developed a following with satisfied clientele who speak highly of your courses.
But for those clients who are eager to enroll in your coaching course or take part in a seminar, your services are out of reach because they can’t afford to pay for the enrollment fee in cash, up front. That keeps them from hiring your services and leaves your business without much needed revenue to expand and grow. in the end, your business’s potential for success becomes drastically limited.
You can change that path by incorporating financing options into your business plan. When you offer financing to your clients, you give them more freedom of choice by providing them with a broad range of options for paying the cost of taking your coaching course or hiring your consulting services.
So the next time you encounter a client who has to “think about it” or needs to put off your services until a later date because they can’t fit the cost into their budget right now, you can offer the client options that allow them to pay over time, across low monthly payments, at competitive rates.
Financing through Fund My Contract is designed to reduce the barriers to conversion by making your services more affordable right now, at the time when completing a transaction means putting more revenue into your business. Working with our network of lenders also reduces the amount of time you would have to spend chasing after unpaid invoices or declined credit card payments.
You get paid upfront for each client who participates in one of the financing options you offer. No more cash flow problems due to non-paying clients or routinely late payments from clients who don’t have the funds on hand to cover the bill.
Implement Financing Options to Your Advantage
A good business coach knows when to seek guidance from others who can provide valuable insights on building his or her business, allowing that coach to help more clients and establish sustainable growth in a shorter period of time.
Coaching is a unique skill and when you don’t have all the answers or you need some advice of your own, you seek out expertise in that particular field or topic to get the information you need. That’s why you want to talk to the financing experts at Fund My Contract, they have the knowledge you need to make informed decisions about creating the financing options that best serve your clientele.
When you work with Fund My Contract, you get to reap the benefits of coach financing programs with lenders who offer fast approvals with a wider set of criteria that go beyond FICO scores and credit histories to determine the creditworthiness of your clients.
More criteria means higher approval rates with affordable monthly payments and that puts more clients in your coaching seminars and training programs.
Financing options with our network of third-party lenders can be just the kind of funding strategy that turns potential clients into paying clients and paying clients into repeat customers. But making the decision to offer these financing options to your clients is only the first step.
The actions you take in using the programs to your advantage can have a significant impact on their efficacy at producing the results you want and giving your clients the ease of access they deserve.
The How, Where, and Why of Implementing Financing as Part of Your Business Model
Whether you’re a small business owner or one of the many entrepreneurs who has found a sustainable business model, financing can be a powerful ally in preserving business continuity. But just because you offer financing options to potential clients doesn’t always mean they’re aware of it, nor does it mean they automatically know how to participate in these financing alternatives or even how they work.
It’s up to you to get the maximum performance out of your financing options and that means educating and advising clients on making the right financial decisions to help them pay for your services. When you think about it, properly implementing these financing options is just another part of your coaching expertise.
Financing as Part of Your Marketing Efforts
You’ve decided to offer your clients financing options to fit their budgets. But in order for these options to be as effective as you anticipate, the way you inform your clients about the programs you offer should be a big part of your marketing and sales strategies.
That requires some thought as to knowing when to present your clients with the financing choices you offer and how to promote these programs based on the needs of the client, the cost of your services, and the types of financing options you’ve chosen to provide.
The first thing to consider is your advertising.
Advertise First
If you can tell your clients that you offer financing at the very start, you’ve got a headstart on breaking down the barriers to a sale. The methods through which you advertise are getting to your target market, but are you presenting the right message? When you decide to offer financing options to your clients, it makes sense to include that in all of your advertising channels. The earlier you can present options to your clients, the more likely they are to hire your services because they know you offer choices for making the cost of your classes or training programs more affordable.
Present Financing Across Your Online Presence
Once your clients see your advertising, they will seek out your website and other facets of your online presence to get more information. These are the places where you typically include information about who you are, what you offer, customer testimonials, and other pertinent selling points that are intended to convince prospective clients to hire you or enroll in your program.
This is an ideal place to include additional information that you offer financing options to clients who are looking for a way to make the cost of your services more affordable to their budget. The amount of information you include here is up to you, just be sure that you get your message across in a direct manner.
The Earlier, The Better
The sooner your prospective client is made aware that you offer financing options, the more you can increase the possibility of turning that prospective client into a paying customer. Reduce the chances of a client becoming reluctant or hesitant to convert by making them feel more at ease about how affordable your services can really be through financing the cost.
Not only will the client feel more confident about moving forward with hiring your consulting or coaching services but they may even decide to spend more than they had initially intended since they know the cost can be split up over a series of low monthly installments.
Remind the Client
But you can be subtle about it without the hard sell. When a potential client meets with you in person or speaks directly to you over the phone, you’re making your sales pitch as you discuss the benefits of your program in further detail and presenting the advantages of your courses. You may sense a hint of hesitation in the client’s voice or they may quickly tell you they might have to wait to enroll in your seminar or training program until the next session.
But if that session is months from now or next year, that’s time you’re waiting to generate more revenue to continue growing your business. Instead of waiting, remind the client that you offer financing options and they don’t need to pay for the full price of the course in one lump sum.
Make Financing Part of Your Sales Pitch
Clients are approaching you about hiring your services or they’ve seen your advertising and want to learn more. This is when you close the deal, get the client to hire you or enroll in the courses you offer, whatever the call to action may be, you should bring the client’s attention to the financing options you offer in addition to the courses and training programs in which you specialize. Take command of the conversation before the client can offer any objections related to the costs of your service. You can explain why your services or consulting firm are the best choice for the client over your competitors and position yourself as a reliable “one-stop shop” where the client can also take advantage of financing options that you offer.
But Don’t Overdo It
If the prospective client starts to ask some questions about the financing options you offer, give them simple, basic answers and refrain from explaining too much and providing them with too much information which makes them tune out because they’ve grown confused. A client who doesn’t grasp what you’re trying to convey, especially when it comes to the money in their pocket and how much your services will cost, it can become very easy for the client to get cold feet and walk away.
So keep it simple. Avoid long-winded explanations and technical lingo that only complicates the conversation and make them focus on the benefits of hiring your coaching services and why financing is a smart way to make a large expenditure feel a whole lot smaller and more affordable with low monthly payments and flexible terms for reimbursement.
Now is the Time
This guide to implementing financing options should give you a clear picture of the advantages of financing and the ways in which you can use it to your benefit for growing your business at a faster rate. Give the financing experts at Fund My Contract a call today to discuss how financing with third-party lenders can give your coaching business a much-needed jumpstart towards long-term success and accelerated growth.
You offer valuable services to clients who want to learn and grow and become better at who they are and what they do. Your services are second to none for guiding them towards their objectives and financing through Fund My Contract can help you and your clients thrive.
Our financing models are some of the most innovative in the industry, where the client applies for the funding and, once approved, the money goes directly into your business – paid in full, upfront. The client gains access to your coaching and everyone is happy.
Contact Fund My Contract and accelerate your business growth today. Now is the time. Let’s get started.
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