Financial Coaches Network - The Podcast: Build your Financial Coaching Business

By Joshua Escalante Troesh, Garrett Philbin, Amelie Riendl, and Emily BlainBusiness Entrepreneurship

Financial Coaches Network - The Podcast: Build your Financial Coaching Business episodes

January 02, 2024#107: What kind of retirement planning can a coach legally do?
Join Josh and Emily as they discuss coaching and retirement planning. We dive into legality, morality, and everything in between!
Top takeaways:
Without licenses, you cannot give advice on specific investments.
You can legally give advice on types of accounts, but be very careful that you don’t give bad advice (tax implications, client protection implications).
There are a LOT of things you can legally do that have broader implications…so make sure you know what you’re talking about.
Resources:
Brokercheck.org
https://www.purposefulfinance.org/what-to-look-for-in-a-financial-adviser
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
35 min
December 26, 2023#106: Re-release: Investments to make in your business as a new financial coach
The FCN team is taking this week off, so we’re re-releasing one of our most popular episodes! Join Josh and Garrett as they discuss what you need to spend money on as you start focusing on your coaching business. The most important takeaway is that the #1 thing that limits the growth of businesses is the business owner’s time!
3 key takeaways:
Business finances are different than personal finances!
Starting: Focus on short-term wins that provide a return on monetary AND time investments. (Examples: minimum viable marketing, processes that allow you to NOT reinvent the wheel with every client, set up systems to prevent you from getting sued, calendar system, access to resources that provide you with support like FCN Launch or the AFCPE)
Going full-time:
marketing-related (how to get more people into your pipeline)
sales support (training, tech and systems/CRM, automations for follow-up)
things around reclaiming time (bookkeeping services, automation, VAs)
Resources mentioned in this episode:
FCN Podcast Episode #11: What is Marketing vs. Advertising vs. Sales?
AFCPE
FCN Launch (new cohort beginning January 7!)
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
34 min
December 19, 2023#105: How to teach personal finance to groups of kids
Join Josh and Amelie to discuss teaching personal finance to groups of kids!
Top takeaways:
Do NOT take your presentation created for adults and just start using it for kids even if you add in a few memes and make it less complex.
Do your research into what is applicable to the group (age, demographics, interests etc.)
You probably won’t get clients out of it.
Make it interactive and make sure there’s variety–very short lecture pieces.
Expand your search for curriculum outside of personal finance–find good methodology for teaching your target age group.
Manipulatives, games, and stories work well for almost all age groups.
Think about what lessons you’re accidentally teaching.
Resources:
NextGen Personal Finance
Junior Achievement
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
39 min
December 12, 2023#104: Client wins
Join Josh and Emily to discuss client wins! What counts as a win and how should you celebrate them?
Top takeaways:
What counts as a client win depends on your niche.
Break big, long-timeline wins into milestones.
The best way to celebrate is with trophies that mean something–progress reports, documentation of milestones along the way.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
35 min
December 06, 2023#103: How do I encourage clients to send me referrals?
Join Josh and Amelie to discuss encouraging clients to send you referrals…AND legality/morality.

Top takeaways:
There’s no legal problems but you do lose control of communication when a client refers you, so you don’t know what the referred person is expecting.
Most professions/certification programs etc. have a ban on paying for referrals.
Introducing money into the equation can affect whether people actually send referrals or feel icky about it and don’t.
Stop telling people that you’re busy–it tells people that you’re too busy for more clients or that if you take on more clients, it’ll take your time away from them.
Casually mention to clients things that keep you busy on weekends and expansion that you’ve been doing. Keep it clear that you’re freeing up more time.

Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach

Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
22 min
November 28, 2023#102: Perfectionism: Why you should stop pretending you have your s*** together
Join Josh and Emily to continue the discussion on perfectionism. First, they discuss the root drive for the need to be right. Second, they dive into why that drive doesn’t always lead us correctly.
Top takeaways:
You don’t have to be perfect or have all the answers in order to be effective.
It’s suspicious to know all the answers!
Starting a successful business is an exercise in sequential failures.
Perfectionism can cause you to get stuck and never make progress.
Perfectionism can lead you to make bigger mistakes as you try to cover up smaller mistakes.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
24 min
November 21, 2023#101: Perfectionism: What if I don't know everything?
Join Josh and Emily to discuss what to do when a client asks you a question that you don’t know the answer to.
Top takeaways:
It’s more than ok to not know everything!
Realize that just Googling something may not yield accurate information.
Figure out what the correct response is: Refer out to an expert? Research (I know where this is but I need time to find it)? Reject (I cannot help with this)?
If you’re a new coach, find the middle ground between “I have every minute of every session mapped out” and “hey Facebook group, I have my first client tomorrow! What should I talk about?”
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
29 min
November 15, 2023#100: The State of Financial Coaching
Join Josh AND Emily AND Amelie as we discuss the State of Financial Coaching! We started with a small survey of Launch members to learn about what kinds of programs various coaches use…next year, we’ll do a more detailed survey and continue sharing these results! Listen in as we look at the results and what takeaways we have that you could apply to your business as well.

Top takeaways:
Almost everyone has an initial program of 3 months or less; a few do 6 months.
People prefer shorter-term commitments.
Over 50% of respondents do 6 sessions–and the remaining mostly do 4-8.
Over 60% prioritize client goals and stresses in the first meeting; 93% do something other than “set up a budget.”
Past the first meeting, results begin to diversify, but tend to start clumping around “niche-specific topic” and “checking in on the budget.”
Josh feels VERY STRONGLY that scheduling a meeting around “whatever the client wants to discuss” is a bad idea.

Resources mentioned in the episode:
The link to the Facebook Live so you can see results!

Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:

- Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
- Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
- Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
- Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
- Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
51 min
November 07, 2023#99: Timeblocking: Amazing Tool or Pointless Exercise?
Join Josh and Emily as they have the showdown that has been 3 years in the making!!! Josh is on the side of time-blocking being a great tool to manage time and see things clearly. Emily is on the side that time-blocking sounds great in theory…but life is so fluid, it’s hard to actually pin things down. Will they find common ground?!
Top takeaways:
Get good at triaging things–if something takes more time than you allotted to it, then leave it to the next day.
Set expectations with people around your response time to email/phone calls/etc.
Remember the time-cost of switching tasks.
Make sure you’re realistic about how long things need–don’t be idealistic.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
43 min
October 31, 2023#98: Our top software recommendations - Round 2
Join Josh and Amelie as they continue the conversation about software recommendations that Josh and Emily started a few months ago.
Recommended resources:
Contracts: AdvicePay has contract signing built in. DocuSign or HelloSign (now Dropbox Sign) are other reputable signing software.
Document storage: For basic numbers, a basic form on your website is fine. For clients, using your coaching software that has secure document. Don’t use free software. DropBox or OneDrive could work.
Data gathering: Excel spreadsheet uploaded to encrypted form/folder.
Chat software on your website: Just don’t do it.
Communication: MessageWatcher
Course creation software: Kajabi or Teachable
Video creation software: Loom
Task management software: Amelie likes Asana or Trello; Josh thinks it should be in your CRM or coaching software.
Previous related episodes:
#81: Our top software recommendations
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
53 min

About Financial Coaches Network - The Podcast: Build your Financial Coaching Business

From the publisher's feed

Looking to build a successful financial coaching business? Join thousands of others in the Financial Coaches Community who are building successful financial coaching businesses. Hosted by Joshua…