HEARTREPRENEUR 14 – CAITLYN DOEMNER
I am very excited to have a special guest with me today. A guest who I really believe can help you in your business. I have Caitlyn Doemner. After studying at Oxford University and getting her MBA, Caitlyn launched virtual coaching sales and that was back in March of 2013. Listen to this woman. Within two weeks, they had sold over $250,000 for their client. That turns me on. That is why I asked her to come. By December of 2015 they closed over 3 million in new business for their clients. They also generated a million for themselves in their first 33 months of business. I know that you have been listening to the show and you know how few businesses do a million. Especially female operated business. Caitlyn is the author of the Unseen Sales Machine: How to scale and automate your high end sales. And something that speaks to me: Sell with heart. How to grow your company with love and authenticity. Her vision is to empower entrepreneurs to become CEO’s by scaling them out of their own sales process so they make more money doing less selling. I know you all want that.
Caitlyn and her husband outside of LA with 4 kids and 11 chickens and 4 turkeys. I am so happy to have you.
Caitlyn: Thank you so much for having me Terry.
Terri: You are welcome. Let’s jump right in. What kind of sales was your client doing? All of a sudden you have $250,000 in two weeks. What kind of sales?
Caitlyn: Her name is Margaret M. Lynch and she is an expert speaker and the author of happy into wealth. She helps people unblock their money mindset and step into their power. Financially and personally. It’s in the coaching industry is where we started. We worked with many great people. We really have been blessed to work with amazing female coaches in the industry. We support them in their sales.
Terri: What is different? Coaches out there trying to sell themselves. What is the secret sauce that you bring?
Caitlyn: I have to admit, when I first started virtual coaching sales, it was when my coach asked me to sell for him. He wanted me to sell for him. I told him, I don’t know how to sell. I told him I never sold anything in my life. My background was academic. I was afraid of selling. My business partner at the time was this coach’s sales consultant. Together we came up with a two part model. Find the problem and then create a solution. I thought, I would love to do that. So I scheduled an appointment for my boss. The thing I wish someone would have told me at the time, all that work I was doing was actually selling. It took me a long time to recognize that selling is not some secret formula. It’s simply listening really well to what people need and want and then coming up with a solution that is profitable for you and fits in their value equation. This two part model, setting the appointment, then closing the deal on the second call, it really broke the sales process into two very easy to do pieces so that nobody felt they had to take them from a cold lead to a closed deal. It’s very grueling for a single person. Also, it provides a level of credibility for the closer and the coach we are doing this for. We have 3 degrees where if the first person can’t get through then the second and third may try. It provides a level of consistency and reliability to the sales process. This is something many entrepreneurs lack. There is no system in place to make sure that leads are qualified and educated and engaged and invited into the program day in and day out.
Terri: I love this. I have trained 5000 coaches so I know this is something they need. I will say it resonates one of my books is Sell without Selling Lessons from the Jungle for Sales Success. It’s all about what I call Heartrepreneur® selling. Being connected and selling with your heart. Let’s say someone is listening and they are a coach, consultant and they are sitting here going I would like to have $250,000 in a couple weeks. I would like to have 3 million. What is the first action they need to take?
Caitlyn: The biggest thing is for them to understand who they are serving and what that person wants. I find that too many entrepreneurs love something. They love coaching people and they want to help people unlock their potential and then they make up a system. They say I am going to make a yearlong program or a six week program. They create it in a vacuum. They assume people are just going to come to them and buy it. Then they twiddle their thumbs and wonder why nobody is showing up. I tell them, you have to listen to the market. You have to build in response to what the market is telling you what they want and need. I encourage them to start with a sales survey. The biggest mistake most people make is they sell to their friends and family instead of selling through their friends and family. Referral of a Lifetime by Kim Templeton. Buy this book. It changed my life. Make a list of 250 people that you know. Tell them what you are doing and who you want to serve and why this is so important. Send it as an email. Then get on the phone with them. Tell them you would love to ask them about the industry. IF you can serve them, great, if not, maybe you can get referred by some of them. You need to hear about what people want. Then you can get them on the phone and you can say, hey, this is what I do. Then you ask them specifically, if I am a life coach, what do you want in your life? What would you pay to get in your life? What is their goal? When you are new to selling it seems scary. But really there are only 6 elements to every single sales conversation. There are three pairing. The first one is goal and motivation. The goal of what they want. The motivation is why they want it. You have to know what motivates someone to move forward. If they say I want to make $250,000 then that is the goal. Then you have to ask them why is $250,000 so important to you. What would it allow you to do? They will tell you maybe, a dream home, get their husband home from work, family vacation, etc. The second pairing is challenges and pain. Challenges is what is keeping them from the goals. The pain is how it is showing up for them. Why is this a problem? I can’t reach $250,000 because….then you figure it out. They don’t know how to close a deal or to get a system in place. The pain is well, it’s keeping me from that $250,000. So that is the cost. It’s costing them $250,000 every year if I don’t solve this problem. The third pairing is desired solution and their budget. Then you can easily go into well, tell me, what would you love to have as a solution to this problem. If I can help you do XYZ, would that fit in? You get them to tell you what they want and what they are looking for. I would focus on this sales survey process, when you are talking to people, always try to get them to tell you an end result. At the end of our time together, what would you like to achieve? Get them to fill in the blank. You don’t want them to say, well, I want 250 one on one hours with you. That is the problem with a lot of coaches assume they should have an hourly rate. No, you build a packet. Then you charge them for that end result. You don’t charge for the process. They say well I want to make $250,000. You say: perfect. I will get you a program that will get you there. Then you can go into the last piece which is their budget. You say, what are you thinking in terms of getting this amount? How much is this worth to get this figure next year? It’s harder if you are a life coach or spiritual healer to quantify the value of what you provide. I hear that a lot. The opposite is true when I am telling people about the money I can make for them. I tell them I can make you a million dollars next year. I tell them i am going to make you happier, healthier, more marketable, a better relationship with your husband, your children. Money is only a placeholder for value. You have to connect that value back to what is this worth? When you can understand that. You said, well I can make you $250,000 and you say, how about 10%? Would that be a good deal for you? You give me a dime I will give you a dollar. They say yeah. Survey your market, understand the end result that people want and then create a value proposition that is a no brainer for them to move forward with you.
Terri: Wow! I took notes. I recommend that everyone listens to this again. Caitlyn you have brought so much value. I am going to walk away with a much better understanding of how to use a sales survey. I have not used them in this way. Speaking about the end result and creating the value proposition. Money is a place holder for the value that you bring. I love that you also talked about creating the package that gets them to where they want to go. Everyone needs to have this as a take away: Charge for the end result. Not the process. We are out of time. I have to say thank you thank you thank you!! This has been incredible. How can people find you?
Caitlyn: We offer free copies of our book on our website virtualcoachingsales.com. You are welcome to download them for free or go to Amazon for $20. Just send my team a note. We have information at virtualcoachingsales.com We would love to talk to you about how to grow your business. In coaching or any other industry.