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

October 01, 2024#147: Email marketing - Is buying email lists worth it?
Josh and Emily discuss email marketing! In this first episode of the mini-series on email marketing, they discuss whether buying email lists is worth it!
Takeaways:
Email is a very bad way to nurture a cold relationship.
Buying an email list and sending cold emails is an easy way to violate the CAN-SPAM Act of 2003.
Buying an email list from an event is an easier “in” because of the commonality…but the attendees will probably be getting a million emails from other vendors as well.
You could consider delaying your email so you’ll stand out, but if you wait, the content may not be relevant anymore.
If you meet someone live at an event and want to send them something, have a template set up to be able to quickly send them that thing live, from the booth, in the moment.
If other financial coaches think it’s cool…your niche probably won’t agree.
If you buy a list, do a one-time mailing and have them opt-in to your regular email list.
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
October 01, 2024#146: How Rahkim Sabree leaned into his niche to help people overcome financial trauma
Amelie is joined by Rahkim Sabree, AFC, to talk about niching, other ways of coaching, and how CFPs don’t have a corner on the market of helping people!
Takeaways:
Your story is unique to you–no one else can talk about your story the way you talk about it.
When Rahkim focused in on sharing his experiences and his niche’s experiences, it attracted other people outside of his niche as well.
Oftentimes, successful coaches don’t tell clients what their goals are, they help clients figure out what their goals are.
Consider reaching out to local libraries to do free services.
Conferences (AFCPE Symposium, FinCon, Financial Therapy Association Conference) are a great way to connect with people multiple times.
Figure out how you can get paid AND how you want to get paid.
Don’t chase the high of helping other people.
Consider formalizing your education–both Rahkim and Amelie thought they knew a lot but still learned a ton from the AFCPE process!
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
49 min
September 24, 2024#145: How to write pitches for reporters
Josh is back with Emily to follow up on the conversation with Vanessa from a while ago about whether it’s worth paying to get featured in an article. In this episode, they discuss HOW to write a pitch! What can you do to increase the chances of your quote getting featured?
Takeaways:
The most important thing to keep in mind is that a reporter is NOT an advertising agency–avoid any inkling of self-promotion.
Make sure your writing style matches the style of the publication.
The first 10 things that come to mind as answers to the prompt from the reporter are worthless (because everyone else will think of the same things).
Be careful of unsubstantiated opinions.
Have original, meaningful perspectives.
Be concise.
Don’t use language like “I” or “me” or “my company.”
Good media training is often very expensive.
Consider taking a good college course through an extension program or community college–check the credentials of the professor.
Other resources mentioned in the episode:
Episode #138: Getting quoted: is it worth paying to get featured in an article?
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
September 17, 2024#144: AFCPE Symposium Q&A with AFCPE Executive Director Rachael DeLeon and Willa Williams, Symposium Chair
Josh is joined by the Executive Director of the AFCPE Rachael DeLeon and one of the Symposium Chairs, Willa Williams, to discuss the 2024 AFCPE Symposium! The Symposium is November 20-22, 2024. The Early Bird Discount ends at the end of September, so get your tickets now to take advantage of that discount!
Takeaways:
The Symposium kicks off at 2pm on Wednesday but there are a lot of pre-Symposium events starting at 8am that day, so come early!
There are topics around coaching, building your business, public policy and advocating, new research presentations, and more.
You receive recordings of the over 60 breakout sessions so you can review the ones you went to or watch the ones you missed. (16:56)
Sessions range from discussions around caretaking to blockchain tech, student loan updates to sessions on working with high-income clients.
Other resources mentioned in the episode:
AFCPE Symposium 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
September 10, 2024#143: If I pay my kid for work, what regulations apply?
Josh and Amelie discuss whether you can (or should!) formally pay your child so you can open a Roth IRA for them etc.
Top things to think about
The first question to ask is do you have a business?
The child has to do work that's valuable to the business and has to be paid the same as any other employee would be paid.
We would highly recommend doing this through a payroll system--and pay social security taxes if you should be.
You PROBABLY legally need to hire them as an employee.
Don't skimp on paperwork!
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
September 03, 2024#142: How Brittany Bramlett launched her business and found success helping clients improve their financial wellbeing
Emily and FCN member Brittany Bramlett talk about Brittany’s coaching journey, her coaching business, and how FCN’s Launch program helped her build her business!
Top things to think about
The University of Georgia offers a great class in Financial Counseling as part of their Masters of Financial Planning program!
It can be a bit tricky to work with friends who you see on a day-to-day basis.
Sometimes your niche finds you!
The to do lists included in Launch helped Brittany stick to a plan and get things done.
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
August 27, 2024#141: Retention Bonuses–the good and the bad
Josh and Amelie discuss retention bonuses. What are the pros and what are the cons? Mo’ money, mo’ problems?
Top things to think about
Sabbaticals usually operate as retention bonuses–you get the time off (usually for research) and then are required to stay for a year afterward.
You’re locked in for a retention bonus…except that you might be able to negotiate a signing bonus to pay back the retention bonus.
Read the fine print and terms of a retention bonus so you know all the implications.
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
August 20, 2024#140: How do I separate my business expenses if I work at multiple businesses?
Josh and Emily talk about business accounting/bookkeeping/taxes when you have multiple income streams that overlap to some degree.
Top things to think about
You should have an EIN for your business; if you have a 1099 contractor job and used your EIN, then that’s simple.
If you have a W2 job plus self-employed income, then some expenses are deductible and some are not.
If you have a CPA and provided them with all the information, you’re more likely to be able to get out of trouble with the IRS because you can prove that you had good reason for doing things the way you did (aka your CPA told you to).
If you have multiple, related companies that are separate entities, you should not share resources between them (have separate Zoom accounts, separate bank accounts etc.).
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
24 min
August 13, 2024#139: Is real estate really passive income?
Josh and Amelie discuss the idea that real estate is a great way to create passive income. Is it as simple as “sit back and collect rent” or is there more to it?
Top things to think about
If you want truly passive real estate income, invest in a REIT.
Hiring a property manager, attorney, CPA, financial adviser etc. who can help simplify things can make things MORE passive, but it’s not truly passive.
It’s hard to factor in many of the risks associated with real estate.
Screening tenants is a lot of work and maintaining the property is a lot of work.
You have a huge amount of liability when you own property and rent it out.
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
43 min
August 06, 2024#138: Getting quoted: is it worth paying to get featured in an article?
Josh and Emily have a conversation with guest, Launch member Vanessa Dean, about whether it’s worth paying to be quoted in a news article.
Top things to think about
As advertising dollars have been disappearing, news organizations are trying new ways to increase revenue.
One way news organizations are trying to increase their revenue is by pure increase in content.
There is an infinitesimally small chance that you’ll get clients from a news article.
However, being quoted in notable sources can add social proof (but it’s more valuable if you have more than a single place).
Consider reaching out directly to local reporters who focus on personal finance.
Other resources mentioned in the episode:
HARO (Help A Reporter Out) now known as Connectively
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

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…