Cash Flow & Affordability Objections: How to Improve
In this episode, I interview James Ashton from Coach Financing all about how to manage your cash flow better as a coach and be able to offer your clients financing options if you’re constantly facing the objection, “I can’t afford it.”
Coach Financing is a fintech platform for coaches to help them finance their high-ticket programs.
CEO and Founder Marc Beauchamp spent many years in the payments and finance industry and he really saw a niche in the coaching space and was able to find lenders that were willing to see the value in the industry.
The company has processed over a billion dollars in loans over the last few years. They are on a mission to help coaches with their cash flow… Knowing what’s coming in and what’s going out and how to best spend each dollar.
In this episode, you’ll learn…
- The NUMBER 1 question to ask potential clients if they say that they cannot afford your coaching offer
- How you can help more people get external financial support
- The Seven Key Cash Flow Drivers
- How to balance what the market can pay for your services & what to charge to ensure you have good profit margins in your business & can run a smooth company
- How to market a complex product
- The importance of client delivery
- Predictions of what may happen with the economy & coaching industry
The Seven Key Cash Flow Drivers
The seven cash flow drivers are…
- Sales growth
- Gross margin %
- Operating expenses %
- Debtor days
- Creditor days
- Stock or Inventory Days (This one doesn’t usually apply to coaches because you’ll generally be inventory free. You might have a few course materials but generally everything is electronic and you are not holding any goods to sell.)
- Capital expenditure
Quotes from this episode:
- 02:17: “The thing I like most about the coaching industry is the nobility of it. Like we’re all out there trying to help people.” -James Ashton
- 04:39: “It’s really problem solving with the client, instead of saying, oh, you know, you should be able to figure it out or giving like some kind of canned response, I think it’s a good thing to always ask a question to see how you can, you know, be solutions oriented with the client.” -Hailey Rowe
- 15:35 “If our customers are successful, we’re successful.” -James Ashton
About James Ashton
James Ashton is a business builder. He has a wide experience in operations management, franchising, training and development, telemedicine, banking and finance as well as education.
