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Hi
I was checking out some statistics on the national lottery (Lotto) web site the other day and discovered this interesting fact:
"The most people to share a single Jackpot were...when the numbers 23, 25, 27, 29, 31, 33 rolled out. 33 players walked away with R111,901 each." (Source: www.nationallottery.co.za.)
Two things amaze me about this: (1) with the probability of a single ticket winning a draw's jackpot being roughly 1 in 14,000,000, that 33 tickets won and, (2) the insanely improbable straight sequence of odd numbers drawn.
Now and then, we play the Lotto out of curiosity and, while we have countless places to put a stash of winnings, we have next-to-zero expectation of winning anything, let alone a jackpot.
In fact, let me say it straight: when it comes to making money, I'm not at all in favour of the Lotto. The Lotto is a gamble where the odds are always in favour of the house.
Unless we use a system of statistical analysis to select the most probable winning Lotto numbers - and even then the odds are highly against winning - we're volunteering to be taxed on our stupidity for "investing" in a ticket and expecting a return on that investment.
Unfortunately, in all my coaching and mentoring with entrepreneurs, professionals and owner-managers, I've noticed how some people run their businesses the same way some of us play the Lotto - too much is left to chance and hope.
Without a system to reliably and sustainably generate revenue from our investment of money and effort, our income, retirement funding and peace of mind are gambled away. How many successful entrepreneurs do you know who regularly visit the casinos where their gambling yields a higher return than their business ventures?.
So in this month's newsletter we look at a few statistics on the top 12 challenges facing coaches and consultants with Michelle's report on a survey she conducted in August. A shocker for me was that 1 in 4 coaches is unsure of the fee they set for their services.
Perhaps this is because, of the top 12 challenges facing the respondents in the survey, only 1, continuing professional development (CPD), is handled by coach training schools. The other 11 are not dealt with or only lightly touched on by coach training schools.
This further reinforces Michelle's and my views that our 3-day practice management course, Launch Your Practice!, is so essential as a finishing school for coaches, consultants and independent professionals. See more about our Launch Your Practice! in the next box below, which runs again in Cape Town in November.
And on improving your odds of generating a return on your investment of skill and money, my article outlines the distinctions between marketing, lead generation and lead conversion. This provides a framework for systemising your marketing and sales processes, allocating responsibility to the right people and managing this aspect of your business’ performance.
Let us know how your marketing and sales efforts are working out for you, or if you have a proven system for winning the Lotto!
Until October's newsletter, all the best.
Launch your Practice!
for coaches, consultants and independent professionals
A comprehensive 3-day workshop that empowers you to grow a professional, successful and fulfilling practice.
Endorsed by COMENSA.
12 - 14 November, 2008, 08h30 to 16h30
at V&A Waterfront, Cape Town
(travel options available for Gauteng and Durban participants)
Qualifications and expertise in your profession are not enough to build a successful practice. We all face typical business development challenges: how to find the right clients, how to build a market presence, how to work efficiently, or just plain how to make money. Even seasoned and established consultants face these challenges!
The answer to long term success lies in not only our continuing professional development, but in how we market ourselves to our ideal clients and manage ourselves and our practices to be efficiently effective.
Join Brent Combrink and Michelle Clarke this November in Cape Town, when we again bring you our tried and tested (and fully endorsed by COMENSA) Launch Your Practice! to you.
"This workshop is a fast track to a successful coaching practice. It almost feels like an illegal performance enhancer!"
- Tania Kapp, Pharmacist and Fitness Coach
(in our May 2008 workshop)
Launch Your Practice! is a comprehensive 3-day workshop that peels away the mystery of how to kick-start, run and grow a professional practice. You get a wealth of proven ideas, techniques, tools and templates drawn from our personal and professional experiences. (See our professional profiles at www.launchyourpractice.biz)
Your investment: R5,950 incl VAT, materials, parking and refreshments
To find out more, visit www.launchyourpractice.biz
or call Clem at 021 671 8225
Systemising Your Marketing and Sales
By Brent Combrink
30 September 2008
If you're a fan of The Secret, a movie about the law of attraction, then this article could bug you. The tenet of the movie is that anything you put out into the universe - a mood, a wish, a belief - is what you attract to come back at you and manifest in your reality. While I believe in the concept, I don't believe that "wanting it enough" will get me a red Ferrari or wanting to win the Lotto jackpot will achieve my financial objectives. What is missing is the system and actions to fulfil these intentions.
Read more...
Top 12 Challenges of Coaches and Consultants
By Michelle Clarke
30 September 2008
Those who embark on a career in coaching must navigate the challenges of marketing, networking and maintaining a positive mind-set. They must learn to elegantly juggle their various personal and professional roles whilst also writing deal-winning proposals and closing sales. 26% of coaches are unsure what to charge for their services! Discover more about these and other practice challenges from Michelle’s report on her recent survey.
Read more...
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