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

August 16, 2022#37: How to turn social media followers into clients?
Episode 37: How to turn social media followers into clients?
Today, join Josh and Garrett as they discuss how to follow up with those people who didn’t book during a prospect call.
Key takeaways:
Rather than thinking about how to convince people to work with you, think about how to form a relationship with them so that you are top of mind when they’re ready to hire someone.
In order for someone to work with you, they have to be ready, willing, and able…and only a tiny fraction of your audience will be ready/willing/able at any given time.
We have to use social media the way people use it in their everyday lives—to have conversations with and keep in touch with people.
We have to give people a compelling reason to say yes to our offerings/service.
Resources mentioned in this episode:
FCN Podcast Episode #5 - What are the Most Effective Marketing Strategies to Get Clients?
FCN Podcast Episode #11 - What is Marketing vs. Advertising vs. Sales?
FCN Podcast Episode #19 - What is a Marketing Funnel and How Do I Create One?
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
32 min
August 09, 2022#36: Life Insurance: The thunderdome throwdown!
Episode 36: Life Insurance: The thunderdome throwdown!
It’s time for one of the most contentious topics out there…life insurance!! We’ve got team TERM LIFE INSURANCE ONLY! facing off against team LIFE INSURANCE IS THE BEST INVESTMENT EVER!
Key takeaways:
Team Whole Life is mostly made up of people who make commissions on whole life policies…and Team Term is mostly made up of people who don’t really understand life insurance. There are pros/cons to both sides!
Approaching anything from a dogmatic viewpoint is harmful to clients.
Whenever we don’t center what the client wants, that’s problematic.
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
August 02, 2022#35: Responding to Emotion - Navigating Emotional Client Conversations
Episode 35: Responding to Emotion - Navigating Emotional Client Conversations
Today, Josh and Garrett talk about the “softer” side of coaching—beyond the budgets and debt payoff and savings goals, we coaches need to be able to handle the emotions that come up when talking about money!
Key takeaways:
Most humans get very uncomfortable with strong emotions (internally or externally!), so we react to other people’s strong emotions by trying to brush them under the rug.
We cannot and should not change or control other people’s emotions; our job is to sit with our clients in their emotions.
Our role is to meet clients where they are, and frustration can be one of the most damaging emotions that prevents the coach from doing that.
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
30 min
July 26, 2022#34: How to follow up with prospects
Episode 34: How to follow up with prospects
Today, join Josh and Garrett as they discuss how to follow up with those people who didn’t book during a prospect call.
Key takeaways:
Read every communication you send in the angriest possible voice so you can make sure it’s positive (and not passive-aggressive!).
Be careful about using the cliches - “Just sending you an email…” “Wanted to circle back around…”
Write your own emails to show some of your personality and avoid cliches. Look for ways to personalize emails to the client as well (“I hope your kid’s soccer tournament went well!”)
Have a standardized follow-up process so you follow up with everyone.
Resources mentioned in this episode:
FCN Podcast Episode #31: Should I list my prices on my website?
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
27 min
July 19, 2022#33: What to do when a client asks to take out a loan for home renovations?
Episode 33: What to do when a client asks to take out a loan for home renovations?
Today, Josh and Garrett discuss financial coaches’ often dogmatic approach to clients’ ideas about taking debt on for things like home renovations.
Key takeaways:
We have to be careful about this conversation because it’s not really about the numbers, it’s about people’s lives.
You WILL have an emotional reaction, whether positive or negative, so recognize that you’re having that reaction and notice how it could impact your coaching.
Your client WILL have an emotional reaction to what you say, so be aware of that going in!
Saying, “That’s interesting, tell me more.” is a GREAT way to gain more information and more time to process.
Think about the numbers, of course, but also take into consideration things like impact on quality of life and timelines etc.
Resources mentioned in this episode:
FCN Podcast Episode #28: What is a good account for an emergency fund besides a savings account?
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
29 min
July 12, 2022#32: When to hire help
Episode 32: When to hire help
Today, Josh and Garrett discuss their thoughts around hiring help for your business!
Key takeaways:
We cannot look at business and personal finances the same way.
Hire help as quickly as you can (as soon as you have recurring income) and reinvest as much money as possible into your business.
The more money you can afford to spend to get your time back, the better.
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
31 min
July 05, 2022#31: Should I list my prices on my website?
Episode 31: Should I list my prices on my website?

Today, join Josh and Garrett as they discuss the hot topic of whether or not to list prices on your website!
Key takeaways:
A lot of our decisions are based on driving away hypothetical, mythical clients…who don’t exist in the first place!
If you approach the decision from the lens of consumerism (aka what’s best for the client), it’s pretty clear that maximum price transparency is the best path. US healthcare is a great example of the mess that a lack of transparency can cause.
If you approach the decision from the lens of protecting your time, it’s also clear that sharing prices is the way to go. If you charge $700 for a package, some are going to immediately think it’s overpriced or underpriced and won’t schedule the call, thus not wasting both of your time.
Don’t save all the good stuff for the sales conversation! Put it on your website! Put it on your website AND talk about it in the sales call!
You may lose PROSPECTS by sharing prices, but you won’t lose clients. Also, you never know how many prospects you’re losing by NOT having prices on your website.

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
45 min
June 28, 2022#30: Should I get the AFC (Accredited Financial Counselor) designation?
Episode 30: Should I get the AFC (Accredited Financial Counselor) designation?
Today, join Josh and Garrett as they talk to special guests Jarod Taylor (Certification Manager at the AFCPE) and Ambus Hunter (AFC Candidate) from the AFCPE to talk about financial coaching certifications.

3(+2) key takeaways:
There is no legal requirement to be a financial coach, but the AFC certification gives you credibility and confidence, helps you minimize blind spots in your coaching, and gives you access to continuing ed.
Just because no one has asked you what your qualifications are doesn’t mean that no one cares. We don’t know how many people don’t contact us because they don’t see a certification!
For *financial coaching,* the AFC is literally the highest level of certification that exists.
Three pillars of the AFC: personal finance, debt management, and financial counseling.
AFC vs. CFP vs. something else - Think about where you are now, and where you want to be in the future.

Resources mentioned in this episode:
AFCPE
CFP

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
42 min
June 21, 2022#29: Paid Search Advertising
Episode 29: Paid Search Advertising
Today, join Josh and Garrett as they discuss what Paid Search Advertising is and when it’s relevant to financial coaches!
3 (+2!) key takeaways:
The benefit of paid search is that IF (big if) you do it right, it gets you in front of people who are actively looking for a solution to a problem that you solve through your coaching.
Paid search gives you keyword targeting abilities AND audience targeting capabilities.
Three things that impact where your ad is placed: price (how much are you paying), competition (how many others and how much are they paying), “quality score” (does this ad actually answer the person’s question that they were searching for? Is there value on the page? How trustworthy is the website?)
Use key phrases, NOT key words.
The fewer people who see your ad, the better, because that means you’ve targeted it exactly to those people who are actually potential prospects, not those who will never be prospects.
Resources mentioned in this episode:
What is a Marketing Funnel and How Do I Create One?
FCN’s Grow service should be live by the end of the year! Sign up for the interest list here.
What is Marketing vs. Advertising vs. Sales?
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
42 min
June 14, 2022#28: What is a good account for an emergency fund besides a savings account?
Episode 28: What is a good account for an emergency fund besides a savings account?
Today, join Josh and Garrett as they discuss emergency funds and where to put emergency fund money other than savings accounts!
3 key takeaways:
Savings accounts are FINE but it’s easy to transfer money back out, so sometimes it’s easier to set up some barriers to easy transfers.
The purpose of an emergency fund is NOT to get a return on it!
Options for where clients should put their emergency funds:
High Yield Savings Account (consider accessibility)
CDs (consider liquidity)
Cash (consider scale)
Whole Life Insurance/Universal Life Insurance (IF the prerequisites make sense; also be careful because licensing is required to discuss)
TIPS - Treasury Inflation-Protected Securities (more esoteric: i-bonds or e-bonds)
Roth IRA (be careful because licensing is required to discuss; you cannot legally tell a client to sell things from their IRA)
Resources mentioned in this episode:
Is Financial Coaching Breaking the Law?
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
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
41 min

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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…