What if another company sent you $ 1,000 worth of coaching calls each month?
- You don’t have to lift a finger to attract these prospects.
- You never had to convince them to buy from you.
- There are no complicated referral or revenue sharing fees in place.
All you need to do is open your inbox and see a handful of new customers waiting to pay you your full fees with just one single phone call.
If that sounds like overkill, you have to watch my interview with Nick True.
Nick is a personal finance coach who helps people budget.
Recently, he set up one of the coolest partnerships I’ve seen with an uncompetitive company in his industry – and that literally generates his leads for him.
Over the past year, this set-it-and-forget-it partnership has added $ 18,000 in revenue to his business. And I’m dying to see more companies duplicate it.
That’s why I hopped on Zoom with Nick and got him to walk me through all the details of how the partnership came about.
Check it out to find out how to duplicate its approach in YOUR business:
In this interview with Nick, you will see:
- How he gets $ 1,000 from coaching clients referred to him each month (without revenue sharing)
- How you can identify similar ‘auto-referral’ partnership opportunities in your niche
- The surprisingly obvious reason why other companies will gladly send their customers to you
- The simple idea of ’guest training’ that helped Nick strike up a conversation with his partner
- And more!
Here’s a full breakdown of the partnership that has already sent Nick over $ 18,000 in coaching sales.
You heard Nick talk about it in our interview, but now I want to break down all the pieces of this partnership so you can see what it looks like.
First, let’s take a look at how Nick’s business works so you can understand why this partnership made sense to him (and how it drives sales).
His company: Money mapped – Mapped Out Money is a personal finance website that Nick uses to sell a variety of coaching services (both group and 1: 1). Her coaching helps people budget and cash flow so they can use their money to build the lives they love.
Here’s a look at the coaching packages and services Nick currently offers so you can get a feel for his business:
Nick’s 1: 1 and group coaching generate 80% of his income, each contributing roughly the same amount.
His best client:
Nick’s best coaching client is:
- Late 30s to mid 40s
- Has a few children at home
- Has a middle class to upper middle class income
- Struggling With Cash Flow: They Make A Lot Of Money, But They Feel Like It’s Slipping Their Fingers Because Of Spending
- I can’t understand why they can’t go ahead and save as much as they want
Footnote: I love how clear Nick is about his best client. He didn’t even hesitate when I asked him the question. I shook it immediately. This is a HUGE help when trying to think of potential partners for your business. If you don’t know exactly what your best customer looks like (and what they’re struggling with), how can you find other businesses with those customers in their audience?
Type of partnership: guest training + automatic referral
They are actually two partnerships, but – as we often see – the first partnership created the possibility of the second.
Let’s start with the Guest Training partnership.
Partnership n ° 1: Training of guests
Nick partnered up with a financial advisor who runs a company called Physician Wealth Services:
It was a great partnership for Nick, as financial advisors serve his best-suited clients in a whole different way. While Nick helps them with budgeting and cash flow, Physician Wealth Services manages their wealth and investments (not the day-to-day business).
In other words, they are complementary companies (non-competitive).
Nick contacted Ryan (the founder of Physician Wealth Services) and offered to do an online workshop on budgeting for his clients. It would teach them how to budget and collect a handful of warm leads and new customers in the process.
Wait – Why did Physician Wealth Services want to partner with Nick? (Key partnership overview ?)
This is one of the biggest mental hurdles people have to overcome with partnerships …
« Why would anyone want to partner with me? » What’s in it for them? Do I have to pay them? «
If this is you now, listen!
You see, Ryan had noticed that a lot of his clients were having difficulty with their daily budget. In the past, he had tried to get them to use a budgeting tool, but it never really caught on. Budgeting wasn’t necessarily an issue that made a lot of sense for his business.
At the same time, he wanted to be able to offer a solution to his customers. In addition, if they manage their daily expenses better, they will likely have more money to invest.
So… why not just bring in someone who is already an expert in budgeting to teach their clients?
Nick’s teaching is value. By lining up free budgeting training with Nick for his clients, Ryan can offer them help and look like a hero. Meanwhile, Nick can pitch his expertise in front of an audience filled with his best clients – while someone they already trust (Ryan) tells them Nick is « the guy » for the budgeting!
It’s a huge win-win. And the training of the guests went so well that it led to partnership n ° 2 …
Partnership n ° 2: automatic sponsorship
Here’s where things get really interesting.
While Partnership # 1 has attracted new clients to Nick’s business, it’s Partnership # 2 that has been the primary driver of the $ 18,000 in customer revenue he has added over the past 12 years. month.
The guest training went so well that Ryan now automatically sends his high profile clients to a special 3-part budgeting training that Nick recorded for him. Then they get a 1: 1 call with Nick so he can answer any questions and polish things up for them.
Each of those calls (which only take about 45 minutes) earn Nick $ 200. Which has totaled just over $ 1,000 in additional sales for his business each month since the partnership launched.
Here’s what Nick said about it:
“Now I don’t need to generate leads anymore… Every month he just says, ‘Okay, we have 10 new customers this month who all need to call with you. Here is $ 200 per customer. From that point of view, it’s huge.
Much like the guest training partnership, this automatic referral partnership is a win-win for both companies.
- Nick receives a constant flow of paid coaching clients (without having to generate additional leads)
- Ryan achieves tremendous added value for his best customers which helps him retain them (without extra work or outrageous expenses)
Never sell yourself short of the value you can bring to potential partners.
What if I found you 100 prospects and helped you get introduced to their audience?
I would love to show you what types of partnerships might be possible for your business.
In our 1: 1 Coaching Program, Growth University, we help coaches, course creators and consultants use this simple approach to marketing to attract the clients and clients of their dreams (just like we did for Nick) .
- We identify 100 ideal partners for your business
- We show you how to present them to present yourself (and even write your first pitch for you)
- We even guarantee that you will land at least 5 partnerships. There is therefore no risk.
Want us to take a closer look at your business and show you what’s possible?
Here’s what will happen next:
- You will share some quick details about your business
- We’ll take a look ‘under the hood’ before our call with you
- We’ll jump to the phone to walk you step by step through the system and how it would work for your business.
All you gotta do is choose a time that works best here and we’ll call you then.