Today I have the great pleasure of being the host on Day 1 of the Virtual Blog Tour of author Morgana Rae whose book Financial Alchemy: Twelve Months of Magic and Manifestation launches on Amazon on Wednesday January 23, 2013.
Morgana Rae is an internationally acclaimed life coach, speaker and author of Financial Alchemy: Twelve Months of Magic and Manifestation. Widely regarded to be the world’s top Relationship with Money Coach, she has been featured on ABC-TV, PBS, NPR, FOX News Radio, United Press International and The Wall Street Journal online, and is frequently a featured expert on programs with Deepak Chopra, Marianne Williamson, John Gray, John Assaraf and T Harv Eker. Named one of 2012’s Top Women in E-commerce by WE Magazine, Morgana has guided thousands of entrepreneurs, artists, healers and humanitarians to thrive in their purpose, attract more than they chase, and make things happen with ease, flow and synchronicity.
In her book, Financial Alchemy, Morgana walks you through her time-tested program to turn your personal Money Monster of scarcity into a Money Honey of abundance. The book is a self-guided system to help you uncover your limiting blocks to abundance, and transform your relationship with money using a SUCCESS FORMULA that keeps you on track and positively “magnetic”.
Today, I’d like to share with you a recent interview I had with Morgana when I got to ask her some questions on attracting high-end clients plus other tips for coaches. I hope you enjoy it.
Worldwide Coaching Magazine: What’s the best way for coaches to attract high-end clients?
Morgana Rae: That’s a great question and what I would ask back is what is your “why” for wanting to attract high-end clients?
Is this the group of people you care about most? Can help the most? Understand most?
The reason that I’m asking these questions is because if your desire to attract high-end clients is coming out of any kind of fear or desperation, if your “why” is because nobody else will pay you what you need or want… your efforts at attraction aren’t going to work.
Your client will know if you’re coming from a place of serving your own needs or if you’re going to serve their needs. Until you can solve a problem for that client – a problem that is more pressing and more painful than paying you whatever you charge – you’re not going to attract that client.
So, number 1: go to the value that you provide. The place to begin is first getting really, really clean about offering more value, value that is worth much, much more than anything that you’re charging. Really know the value of what you offer. Know exactly the pain that you have a solution for, for exactly the kind of person who needs you and will benefit from you. If that person with the problem you solve happens to be high-end, then you will attract high-end clients. In my experience it really doesn’t matter if a client has a lot of money or not. If you have a solution that is compelling and unique and effective, and your message speaks to somebody individually and personally, and they need your solution, they will find a way to hire you.
If clients are not hiring you, it’s because they don’t see a compelling benefit from you, or they don’t believe in themselves enough to believe that the solution is possible for them.
So to attract high-end clients you do exactly the same thing that you would do for any kind of client: you get really clear and specific on how you help a person, a real person with real problems, and you learn how to communicate with that person in a way that makes them really, really want to work with you and willing to do whatever it takes.
I’ve coached people on every extreme, the people who have virtually no money to the people who have hundreds of millions of dollars and more. The people with hundreds of millions of dollars and more are no more satisfying as clients. It’s really the human being, not their net worth that makes them a great client. But it doesn’t matter, they will have the same concerns, the same resistance to hiring you, the “I can’t afford it” may not be their excuse, but if they don’t have that one they’ll have another one, if they don’t really want what you’re offering and don’t believe in what you’re offering.
So you need to get really, really clear on your value and who you help. And if you have a problem that really appeals to high-end clients then you will attract them.
One last tip: It’s a bonus. It’s purely practical. Take a look at your language. If your marketing and communication is all about getting out of poverty and getting out of financial scarcity, then you’re going to attract people who are in poverty and scarcity, and you’re not going to attract those so called high-end clients.
But really, take a look at your “why” and take a look at the human being. More than anything else really, know your value and always give more value than the dollar amount that you charge even if you’re charging $100,000 a year.
WCM: Coaches are often people who find it hard to ‘sell’ themselves (maybe a bit introverted?). What advice can you offer them in terms of making the case for coaching?
Morgana Rae: Well, I’m an introvert and if I had to make cold calls, or warm calls, or even hot calls… I would be out of business! I don’t like to sell, so my first piece of advice is find the activity that feels best to you, and really apply yourself to that strategy.
For instance, I have a friend who gets a new client EVERY time she goes out for coffee with somebody. It doesn’t work that way for me. I had to find a different approach.
Because I hate phone calls, suck at lunches, and I’m even worse with follow up, I focus on communicating with my on-line newsletter I’ve got this email list of almost 13,000 people that I stay in touch with every week, just giving stuff away.
Here’s a big distinction that will be life or death to your business:
You’re not selling coaching. You’re not even selling yourself. You’re selling an idea. You’re selling your belief in what’s possible for a person. And now, more than ever, you’re selling a solution to a problem you care about.
I’m selling my belief in another person. I take myself out of the equation, and I really strongly recommend that you do too, because it just feels icky.
I’m really, really good at selling my belief in what is possible for human beings, selling my message and that’s all coaching is. So let’s just name the lie right now.
Coaches are the best salespeople in the world, that’s all we do! All we do is sell our belief to our clients so that they can move forward.
It’s a matter of priorities. My belief and my desire for what is possible for my client has got to be a lot bigger than my self-consciousness and my desire to play small and hide, and it also has to be bigger than my need to be hired.
In fact, I’m totally cool when I don’t think somebody’s a good fit. In fact, I’m relieved. I would so much rather refer somebody to another coach who’s a better fit, than to struggle with a client who’s not going to be happy with me. There’s nothing wrong with that.
So there are a few tips here:
- Don’t sell yourself.
- Sell your message and your solution.
- Don’t be attached to being hired. I know that that’s harder when you have no clients. You just have to get really, really cool with ONLY serving the people you will serve best.
- Do not sell coaching. Let Oprah sell coaching. Let your coaching school sell coaching.
- Sell your client’s dream.
- Sell your message for humanity.
- Sell your specific solution for that individual, and leave coaching out of it.
This is the biggest mistake of coaches and reiki practitioners and massage therapists and hypnotherapists and every service professional… We start to sell our “widget,” our vehicle, instead of the destination.
People don’t care about the vehicle. If they could get the solution in a pill, they would. Wouldn’t you? Don’t confuse the destination–where they want to go–with the vehicle that gets them there. Leave the vehicle out of it. Nobody cares!
When you push what someone does care about, you feel pushy, desperate, and salesy. Ick ick ick!
Just focus on the destination. It’s not you. It’s not coaching. It is the clients dream. If you are uniquely qualified to help them get what they really, really want; then there’s really no selling involved, is there?
WCM: The fee structure of coaches might change over time when they gain experience and skills. How can you raise your fee with existing clients without getting frowned upon?
Morgana Rae: Well, there are two different kinds of clients. There are your individual one-on-one clients, and your group clients.
If you really, really love coaching an existing client, I wouldn’t necessarily raise their fee. You can discuss it, you can raise it incrementally so it’s not painful–like add $15, or something–but I personally don’t raise my rates on my existing private clients. I have one client who’s been with me about seven years and she pays much, much less than my new clients do. That’s the reward for being an early responder, and not putting off hiring me and staying with me all of this time.
I find it easier to raise my rates for NEW incoming clients, so anybody who’s putting off hiring me is going to pay so MUCH more next year than if they hire me this year! And that works just fine for me.
Then there’s another kind of client: they’re the group coaching clients. Typically with group coaching, I offer a specific program. Maybe a three-month program, or a year-long program, or a weekend intensive. That way, when one group ends, I can re-examine my price structure before I offer the program again. It may not fit my business model anymore, or who I’ve become.
Because each year we grow, we’re not the same coach. And the more you invest in yourself, the more other people want to invest in you. For instance I invest over $100,000 every year on coaches and classes to just keep learning new stuff that I can give to my own clients. Think of the confidence investment gives you. Investment becomes your “normal,” and it affects the way you and your clients interact when discussing fees.
My friend Ali Brown’s Mastermind Group went from, I think $20,000 or $24,000 one year, to $100,000 the next year. Some people continued, or she just got a whole new type of client base at the higher rate and let go of the people from the year before.
You have to go in and find what is in integrity for you, and what feels best for you, Undercharging feels bad. It feels like self-betrayal. It feels out of integrity. It feels like lying. Have the courage to put your integrity first, and your fear of being frowned on last. Because I promise you: you will be frowned on by somebody, I guarantee it. And you have to learn to be okay with that.
I hope you enjoyed this interview with Morgana Rae and that you’ll check out her book Financial Alchemy: Twelve Months of Magic and Manifestation at http://morganarae.com/book-launch/pages/pre-launch.php
11 Money, Love & Magic Mentors Share Their Wisdom on this FR*EE 3-Day Online Event January 15th, 16th & 17th, 2013 12pm Pacific/3pm Eastern/8pm UK
Book your place FREE at
Over the course of 3 days, Morgana and her guests will be exploring how unlock your magical powers of manifestation to attract money effortlessly by putting LOVE first.
Here’s Morgana’s wonderful guest line-up:
- Morgana Rae – Coach, speaker, author of Financial Alchemy: Twelve Months of Magic and Manifestation
- Lynn Serafinn – Coach; marketer; author of The 7 Graces of Marketing
- Bob Doyle – Author; CEO of Boundless Living, Inc.; Teacher in The Secret
- Chris Howard – Author; philanthropist; founder/CEO Academy of Wealth & Achievement; CEO of Million Dollar Mastermind
- Noah St. John – Author; trainer; creator Inner Game of Success; media personality
- Mali Apple & Joe Dunn – Relationship coaches; authors; founders of Soulmate Experience
- Cynthia Kersey – Author; speaker; founder non-profit UNSTOPPABLE Foundation
- Jeffrey Van Dyk –Conscious business movement leader; found Expansion Lab
- Debra Poneman – Law of Attraction leader; Founder Yes to Success Seminars
- Debbie Bermont – Author; business growth strategist; transformation agent
This special 3-Day telesummit is Morgana’s FR*EE gift to you
to celebrate the launch of her book, Financial Alchemy
coming out on Wednesday January 23, 2013.
FREE GIFTS TOO!
When you buy Morgana’s book on Wednesday January 23, 2013, Morgana would like to give you the MP3 downloads of the Money, Love & Magic telesummit.
You’ll also receive a complete library of beautiful personal development gifts from authors, speakers, coaches and other enlightened professionals from around the globe including one from us:
Building Stress Tolerance
To claim your FREE pass to the Money, Love & Magic Telesummit!
and read about the free gifts, go to:
Thanks for reading! As usual, please feel free to share your comments and thoughts below. I love reading your feedback.
AND… be sure to follow Morgana tomorrow when the next stop on the Virtual Blog Tour is Lisa Dorey, who will be interviewing Morgana on the subject of money and Morgana’s process of Alchemy in her work. To visit that “stop” on the tour, go to either http://lisadorey.com/virtual-interview-with-morganna-rae or http://spiritualsanctuaryandspa.com/virtual-interview-with-morgana-rae