Shows
Financial Coaches Network - The Podcast: Build your Financial Coaching Business186: Analyzing the gurus: Suze OrmanWe began a new series about analyzing the gurus! We’ll be spending time discussing several big personal finance names, their recommendations, and why we do or do not agree with those. Josh and Amelie discuss Suze Orman’s philosophy of debt, preparing for retirement, and investing.
Top takeaways:
Overly simplistic advice (supposedly for everyone), doesn’t actually work for anyone.
People generally need a softer approach to personal finance in order to encourage change.
Paying off your mortgage early doesn’t lower your living costs as much as you think it will and can cause financia...2025-07-1538 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#183: Analyzing the gurus: Dave RamseyWe begin a new series about analyzing the gurus! We’ll be spending time discussing several big personal finance names, their recommendations, and why we do or do not agree with those. First up, arguably the biggest–Dave Ramsey! Josh and Amelie tackle the baby steps.
Top takeaways:
His foundational advice is not bad, it's just overly simplistic/broad.
Because of the nature of inflation, $1000 today is much less than it was when he originally came up with it.
Not all debt is bad.
It basically never makes financial sense to pay student loans or a mort...2025-06-1747 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#179: What if I can't have more than $3000 in my savings due to governmental benefits?Josh and Amelie discuss various situations where people have limits to savings amounts due to governmental programs such as Medicaid or Disability.
Top takeaways:
Many of the limits are state-specific.
Figure out what someone in this situation would need an emergency fund for–it might be fewer things than you think.
Do not think of “savings” as a monolith–each individual problem should be tackled individually.
ABLE accounts are similar to retirement accounts except that they’re for disabled people and their families to be able to pay for specific expenses.
Want help building or growing a...2025-05-2022 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#178: Financial Counseling Chapter 2 - Personal Finance Competencies in the Practice of Financial CounselingJosh and Amelie discuss the second chapter of the Financial Counseling textbook by Durband, Law, and Mazzolini.
Top takeaways:
Financial knowledge is very baseline (what is a savings account). Financial literacy is the understanding of how to apply the knowledge.
Financial literacy only really works when you’re teaching people about things that are directly relevant to their lives at that point in time.
Financial capability is the ability to actually implement the knowledge.
Financial ratios are great, but many guidelines are situation-specific.
It’s important to be aware of potential scams to help your clients prote...2025-05-1326 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#177: Financial Counseling Chapter 1 - The Financial Counseling ProfessionJosh and Amelie discuss the first chapter of the Financial Counseling textbook by Durband, Law, and Mazzolini.
Top takeaways:
Many AFCs work on military bases, in non-profits, or in private practice, but there are also opportunities in banks, schools, hospitals, and more.
For one-time engagements, technology isn’t as important, but for longer-term engagements, most clients are going to expect some kind of budgeting technology.
Counselors should be careful about building codependent, ongoing relationships with clients.
Building relationships with other professionals is important so you can refer out.
Want help building or growing a successful fin...2025-05-0641 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#175: How to build good credit card habitsJosh and Amelie discuss credit cards–how do you build good habits? The strategies are slightly different
Top takeaways:
The proper way to use a credit card is to use it exactly like a debit card–use it for everyday purchases and pay it off every month.
For new users (whether brand new or people who have had debt recently), start with something small and simple–put gas purchases on your card, pay the statement in full every month.
For new users, keep the limit relatively low and don’t necessarily increase the limit.
For experienced users (ma...2025-04-2234 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#173: State of Financial Coaching High Level SummaryAmelie and Josh discuss top takeaways from the inaugural State of Financial Coaching survey!
Top takeaways:
Coaches with niches have more paying clients and higher prices.
Counselors with high revenue have niches.
Year 1 revenue is REALLY BAD across the board (less than minimum wage bad).
Many coaches with high revenue have some form of training and recognized credentials.
Counselors with high revenue growth use active prospecting–networking events, contacting referral partners, etc.
Coaches with high revenue growth usually have structured programs.
Coaches with high revenue growth invest in their businesses.
Resources:
- Watch th...2025-04-0819 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#172: FINRA Fellowship - A Path to AFC Certification for Military SpousesAmelie discusses FINRA Foundation Military Spouse Fellowship Program, a path to AFC Certification for mil spouses! She is joined by Valerie Richards from AFCPE and Cherie Stueve, a frequent FINRA Fellowship Instructor to discuss the process!
Top takeaways:
The FINRA Fellowship process is a great networking and community building opportunity.
The AFCPE Symposium is a huge networking and community building conference for everyone!!
It’s a very strong, tightknit group with strong interpersonal connections and support both during and after the certification process.
There are regular, virtual, regional meetings as well to chat and connect.
Applications ar...2025-04-0134 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#171: Should I get a loan for _______?Josh and Amelie discuss the conversation around getting a loan. When does it make sense, and when does it not make sense?
Top takeaways:
The first–and most important question–is “why do you want to spend this money?”
It’s also very important to weigh the cost of interest versus the benefits of having it sooner.
Another question is “will this help you build wealth?”
It’s also worth considering interest rates, impact on taxes, opportunity cost
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journ...2025-03-2535 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#169: Separating from Federal Government JobsJosh and Amelie discuss things to think about when separating from federal government jobs.
Top takeaways:
Before deciding whether to take a separation package, try to take the emotion out and instead think about what you want the next phase of your life to look like.
If you’re going through a big career transition, think of your next position as a transitional and perhaps temporary job.
The first, voluntary package is always better than the non-voluntary package.
Everything is negotiable–you may or may not get what you’re trying to negotiate but there’s nothing...2025-03-1134 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#164: How to Help Clients Set Motivating GoalsToday, Josh and Amelie discuss how to help clients set goals! How can you facilitate the goal setting process?
Top takeaways:
Keep the conversation lighter and casual.
The goals need to be internally set goals rather than external pressure.
Big goals need to be broken down into smaller, faster pieces to add quick wins to build motivation.
Ask questions to get clear on details.
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? Jo...2025-02-0431 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#163: How to Set Motivating GoalsToday, Josh and Amelie discuss how to set motivating goals–and stick to them!
Top takeaways:
There’s a difference between a goal and a dream.
Most purely financial goals are not really goals–they’re the Measurable part of another goal.
If you think your goal is getting out of credit card debt, the question is “why?”
It’s hard to focus on the future when you’re stressed about the present.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whethe...2025-01-2836 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#160: Should I buy a house now or wait?Today, in an indirect continuation of episode 157, Josh and Amelie discuss what to think about when considering buying a house (or when coaching a client through the decision making process around buying a house!).
Top takeaways:
Don’t buy because you think interest rates will change–no one knows the future.
The number one thing to look at is lifestyle–what’s right for your family’s lifestyle, are you planning to stay where you are long-term or not, are you anticipating big changes in the near future, etc.
“Can I afford this change without sacrificing other, more...2025-01-0742 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#157: Does a mortgage make sense with high interest rates?Josh and Amelie discuss mortgage rates…and what to think about when considering whether it’s a good time to buy!
Takeaways:
In the history of mortgage rates (going back to 1971), they’ve ranged from 18% to 2.5% (much more recently).
Interest rates typically impact home prices–as interest rates go up, prices go down (and vice versa).
In most situations, if you’re ready to buy a house, now is the right time.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whe...2024-12-1721 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#155: Estate Planning - DIY Estate PlanningWe return to our Estate Planning series…so today, Amelie and Josh discuss DIY Estate Planning. What can you DIY, what should you DIY (if anything), and what should you look out for?
Takeaways:
You could DIY through a service or by yourself.
A holographic will is a handwritten will; a nuncupative will is a spoken will. Both can be legally binding depending on the laws of the state.
Much of the “advice” you get from friends/family/the internet will get you into major trouble.
Quick, online services are better than nothing, especially if you have m...2024-12-0343 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#153: Estate Planning -- Marital AssetsToday, Josh and Amelie continue the series on Estate Planning! This week, they discuss marital assets (and debts).
Takeaways:
Estate planning can also plan for the death of a marriage.
Ultimately, it comes down to “is this something that both parties have a right to/will split?” or “is this something that only one party has a right to?”
Some states' policies follow the English tradition (“common law states”); others follow the Spanish tradition (Arizona, CA, Idaho, Louisiana–kind of, Nevada, New Mexico, Texas, Washington, Wyoming) (“community property states”).
It can be very easy to comingle assets which can a...2024-11-1937 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#152: Estate Planning -- Key PeopleToday, Josh and Amelie continue the series on Estate Planning! This week, they discuss key people! What roles do the various people play?
Takeaways:
Guardians - “Who will care for your children if you die?”
Executors (wills) and Trustees (trusts) - “Who will carry out your wishes when you’re dead?”
Executors/trustees may be paid.
Powers of Attorney/legal proxies - “Who will handle your life when you’re incapacitated (in a coma/traumatic brain injury etc.)?”
There are medical and financial Powers of Attorney.
Beneficiary – “Who is rooting for your death?” (who gets your assets when you die?)
...2024-11-1249 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#151: Estate Planning -- TrustsGet ready for a series on Estate Planning! We’ve had a few questions about that lately both in the FCC Facebook group and with our personal clients, so join Josh and Amelie as they talk about estate planning, and then keep an eye out for a final episode with Josh and Emily as they talk about a financial coach’s role in all of this! First up–trusts! What are trusts, who needs a trust, and what does it all mean?!
Takeaways:
Trusts do not magically hide money from taxes.
A trust is a “non-natural” person and...2024-11-0541 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#146: How Rahkim Sabree leaned into his niche to help people overcome financial traumaAmelie 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...2024-10-0148 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#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!
2024-09-1026 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#141: Retention Bonuses–the good and the badJosh 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...2024-08-2729 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#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 main...2024-08-1342 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#137: Business setup basicsJosh and Amelie give a high level overview of setting up your business and whether using a registered agent is helpful or not.
Top things to think about
The first question to ask yourself is whether to go the sole proprietorship route or the LLC/entity route.
Sole Proprietor - You may need a DBA (doing business as/fictitious name statement).
Make sure you check what your local city/county/state requires as far as business licenses etc.
Get an EIN even if it’s not required (it’s easy and free!).
Registered agents…can be slight...2024-07-3027 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#135: Is renting a home better than buying?Josh and Amelie discuss the age-old question of renting vs buying!
Top things to think about
Society claims buying is better than renting; economics disagrees.
When you rent, your max home maintenance is a few dollars for a new lightbulb.
Renting gives a lot more flexibility; owning offers more stability.
One big advantage of owning is that your mortgage stays the same.
The standardized deduction exists in part to equalize tax deductions for land owners and non-land owners.
Overall, lifestyle is much more important to people than the actual finance/economic side.
Want help building...2024-07-1636 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#133: Credit versus Debit CardsJosh and Amelie and Emily discuss credit cards and debit cards! What are the best use cases for each? Is one always bad and the other always good? Any common misconceptions?
Top things to think about
Debit cards can exacerbate cashflow challenges.
You have MUCH more generous fraud protection with credit cards than with debit cards.
Josh’s advice for new credit card users (less than 2 years of on-time in-full payments) is to find a card with a credit limit that’s less than one week’s take-home pay and one that has no rewards points.
Both c...2024-07-0245 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#131: Marketing: quantity vs. qualityJosh and Amelie discuss marketing strategies, specifically *quantity* versus *quality* and which strategy is best in what situation!
Top things to think about
There’s no one right answer.
Is your ideal client looking for really in-depth, quality research or lighter, more accessible pieces?
Are you trying to build trust (exposure/quantity) or expertise (quality)?
Repurposing content is not a terrible idea, BUT you need to make sure the path is linear–don’t point people from your newsletter to your Facebook page that then send people to subscribe to your newsletter.
Put content out half as oft...2024-06-1832 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#129: Corporate transparency and how it may affect youShort and sweet! Josh and Amelie discuss the new-as-of-2024 Beneficial Ownership Information reporting rules. If you are a sole proprietor OR a partnership, this doesn’t apply. BUT if you have an LLC, you need to make sure you are complying or you’ll face really stiff penalties.
Top things to think about
If your business was formed in 2024, you should be good to go (you have 30 days to do it).
The penalty of not doing this on time is $500. Per. Day!!!
If ownership changes (new owner coming in or owner coming off), you have 30 days to r...2024-06-0410 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#126: Non-profit corporation: How can I create/transform my business?Josh and Amelie continue their discussion about non-profits. Whether you’re starting a new company or transforming an existing business into a non-profit, there are some steps to follow!
Top things to think about:
The basic steps are to form a corporation and then go through the steps of turning that corporation into a non-profit.
501c3 is one option and probably the most likely for most coaches, but there are other options as well.
There are far stricter rules around naming a corporation.
Hiring a lawyer to write your bylaws and articles of incorporation will be mu...2024-05-1437 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#125: Non-profit corporation: A good idea for my business?Josh and Amelie discuss the idea of setting your business up as a non-profit. When might this be the most advantageous thing to do?
Top things to think about:
Non-profits are corporations who have filed for exempt status (typically 501c3, but maybe not!).
You have to have a board of directors in a non-profit.
Think about what your goals are, and then determine if those align better with a for-profit model or a non-profit model.
Consider how much money your clientele make–do they make enough to pay you for your services? If not, can you cr...2024-05-0721 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#123: Reading the Financial Tea Leaves - Ratio AnalysisJosh is joined by special guest Professor Trelawney–or rather, Amelie–to discuss a seemingly-boring topic that has led to surprisingly wonderful client responses…financial ratios! Debt-to-income,
Top things to think about:
Without ratios…numbers are relatively meaningless.
Early on, we should focus on helping clients set up for long-term success–retirement savings to get company match, pay down debt that will hard ability to buy a house (credit cards and high interest car loans), and put money aside for short- to mid-term loans.
Liquidity ratio is a great one–it’s also known as “how many months does...2024-04-2339 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#121: How to avoid your sales call turning into a free coaching sessionJosh and Amelie talk about free sales calls. Should you coach during your sales call? What is the point of a sales call anyway?
Top things to think about:
If you see the primary goal of the sales call as “a way to show my value,” you run the risk of coming across as pushy.
You cannot gather enough data in the first 5 minutes of a sales call to provide valuable coaching.
Have a script for your sales call–and know what the big picture piece is that you want to communicate.
Instead of spending your time t...2024-04-0934 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#119: Is the snowball method the best way to pay off debt?Join Josh and Amelie to discuss debt payoff methods! Is the snowball method the best way?
Top things to think about:
The two most commonly talked about methods are the debt snowball and the debt avalanche methods.
Focus on the debt with the highest negative impact.
From a motivational standpoint, studies have shown that paying off a larger portion of a balance has a larger positive impact (so a $500 payment on a $1k balance has a bigger impact than a $500 payment on a $1k balance).
Don’t be dogmatic about debt payoff methods–evaluate what works best...2024-03-2631 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#117: What to do when you're stuck/in a funk...and how do I build a support system for myself as a new business owner?Join Josh and Amelie to discuss how to get yourself out of a funk and how to build a support system to help pull you out.
Top things to think about:
If there is one thing that is holding you back from moving forward in your business…consider if it’s possible to just not do that one thing.
Set realistic expectations for yourself.
Don’t change your strategy because you’re impatient–give it time to play out.
Find out how to identify a trigger point and get in front of your clients at that point.
If...2024-03-1230 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#115: I have imposter syndrome–help! Join Josh and Amelie to discuss Imposter Syndrome.
Top takeaways:
Imposter syndrome can show up in three ways: “there’s so much I don’t know!”, “this is easy, why would someone pay me?”, and actual “I have no idea what I’m talking about.”
See if you can narrow down specific areas where imposter syndrome crops up.
Don’t ignore your imposter syndrome–it’s telling you something, whether knowledge, process, or your mindset/beliefs!
Previous episodes:
Episode 53 - What is Imposter Syndrome?
Episode 54 - Impostor Syndrome around your coaching process
Episode 55 - How increasing your techn...2024-02-2732 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#113: When (if ever) does whole life insurance make sense?Join Josh and Amelie to talk about Whole/Universal Life Insurance! As Amelie was studying for her AFC exam, she found herself wondering when–if ever–whole life insurance makes sense.
Top takeaways:
First question to ask: do you have a temporary or permanent need for insurance?
Second question: have you run out of all other tax-sheltered accounts (IRA, 401k, 529, etc.)?
There are some long-term care insurance policies that are hybrid whole life/long-term care and some that can be riders on other policies.
If you have a family history/higher likelihood of cancer, it may make...2024-02-1334 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#112: How to choose a nicheJoin Josh and Amelie to help Launch member Jackie choose her niche! Jackie reached out to Amelie about choosing a niche, and Amelie invited her onto the podcast to talk with her and Josh!
Top takeaways:
Consider that opening a non-profit business is an option if you’re looking to serve primarily lower income folks.
Feel free to start with a REALLY broad opening category, as broad as “people who wouldn’t use the services a non-profit offers.”
If you could work with only one TYPE of people, what type of person would you work with?
Consider...2024-02-0635 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#110: How we teach our kids about moneyJoin Josh, Amelie, and Emily to discuss how we talk to our kids about money and how we handle allowances! Emily has a 6-year-old daughter (1st grade), Amelie has an 11-year-old daughter (5th grade) and a 9-year-old son (3rd grade), and Josh has a 6-year-old son and a 4-year-old daughter.
Top takeaways:
Everything should be tied to childhood development stages.
Make money relatable and tactile.
Let your kids make mistakes and regret spending money on things NOW so that they’ll start learning that earlier.
When thinking about allowance, start with, “What are we trying to teac...2024-01-2331 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#109: Tax Obligations - 1099 requirements for 2024Join Josh and Amelie to discuss everyone’s favorite…taxes! What are your obligations in sending 1099s to someone? Did you know that there may be requirements for you to send 1099s to someone?!
Top takeaways:
If you receive over $600 income through a third party (AdvicePay/Stripe/Paypal etc.), that third party will issue you a 1099 (though this has and will continue to change a lot).
Double check 1099 numbers so they all line up correctly.
If you pay someone/some company over $600 over the course of a year, you have to issue a 1099 to them UNLESS it i...2024-01-1624 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#108: What do I need to do to legally give basic investment advice?Join Josh and Amelie to discuss investment advice and what you need to do to legally/ethically give investment advice.
Top takeaways:
You do not need a CFP to give investment advice; you need to register as an investment advisor with your state.
There are licenses to sell and earn commissions, sell insurance, give investment advice, etc.
Series 65 is license to give advice as an investment advisor (you cannot sell products).
In order to get a sales license, you need to be sponsored by a company. You are not being licensed as a financial advisor or...2024-01-0942 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#105: How to teach personal finance to groups of kidsJoin 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.
M...2023-12-1938 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#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...2023-12-0621 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#100: The State of Financial CoachingJoin 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...2023-11-1550 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#98: Our top software recommendations - Round 2Join 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 crea...2023-10-3152 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#96: How to develop an elevator pitchJoin Josh and Amelie as
Top takeaways:
No one likes to be pitched to.
Having a very specific niche will let you practice having positive conversations without the pressure of “I’M GOING TO SELL YOU!”
You want potential clients to recognize that you could help them without you needing to tell them that.
Shorter is always better than longer.
People latch onto pain points.
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? Joi...2023-10-1729 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#92: What is cashflow budgeting?Today Josh and Amelie dive into a conversation about various budgeting methods, and why the personal finance budgeting methods are all really just…hybrid methods of cashflow budgeting!
Top takeaways:
Technically, rollover budgeting is looking at what was spent/used the previous month and rolling it over to the next month.
Technically, zero-based budgeting is starting over from scratch every year (not month) and receiving requests from various business departments for what they need.
Cashflow budgeting is looking at expenses for the year, planning out when income is coming in, and figure out how to make ev...2023-09-1937 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#89: What are my obligations for collecting sales tax?Today’s not the most exciting topic, but it’s an important one! Do we coaches need to collect (and remit!) sales tax? Josh and Amelie discuss!
Top takeaways:
Some states charge sales tax on products, some charge sales tax on services…it’s important to figure out what your state policies are.
Go straight to the state website to get information, not blogs etc.
Make sure you ALSO check city and county taxes!
If your client is in a different state than you, then “economic nexus” applies which depends on how much business you do in that stat...2023-08-2942 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#85: What info should I gather before a first meeting?Join Josh and Amelie to discuss info gathering before your first paid meeting! Many of us have a tendency to make fancy forms to gather lots of detailed info about clients, but…what are the best practices?
Top takeaways:
Ask yourself, “What am I trying to accomplish in this meeting?” and gather the bare minimum possible.
The more information you ask for, the longer it will take them to schedule a first meeting.
Think carefully about what you want to ask in person (and respond to the gut reaction) versus asking ahead of time and getting a more...2023-08-0139 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#82: How do you run a sales/prospecting call?Join Josh and Amelie to discuss prospecting calls–what are they, what should you cover, how to handle various situations.
Top takeaways:
The most important part of a prospecting call is to find out what the client’s needs are, and whether that’s something you can help them with or not.
You also need to figure out whether you even LIKE them–will you enjoy working with them?
You ALSO need to build trust.
Having a script to start with is great as you learn what works and what doesn’t.
Your first FIVE words are vital–...2023-07-1140 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#79: Clients who don't make habit changes in 6 monthsJoin Josh and Amelie to follow up on a conversation about those clients who just don’t change in 6 months. What are red flags? How do you handle that situation?
Top takeaways:
There is a potential for brand liability from people who are paying you and aren’t making any changes.
Red flags to look out for: debt balances going the wrong way without reasons, no progress towards objectives, if they’re accomplishing the easy but less important things but not the bigger things.
Don’t make empty threats…but sometimes telling a client, “Hey, if you continue...2023-06-2033 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#77: How do I set pricing with my first clients?Join Josh and Amelie to discuss pricing–especially pricing at the beginning of your business.
Top takeaways:
Benchmarking based on other financial coaches can be very dangerous because what other coaches do may or may not have anything to do with what you do.
The people you work with, length of your program, technology you offer…all of those should impact your pricing far more than what other people are charging.
If your program is about 1-2% of your client’s income over a two-year period, that may be a harder sell.
Sliding scales are dangerous becaus...2023-06-0640 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#74: How do you find a VA and what can they help me do?Join Josh and Amelie to discuss all things VA! How do you find one, and what tasks can they help with?
Top takeaways:
Start by listing all your business taxes, and then go through asking yourself, “how much do I enjoy this?” and “how good am I at this?” and “how important is this to my business?”
Identify the time sucks that aren’t moving the business forward.
When you first start looking for a VA, ask other business owners for VA leads.
If you have a one-time project, hire an expert in that area. If you have an on...2023-05-1625 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#69: Should I create an LLC/S-corp/B-corp/other/nothing? Part 2Episode 69: Should I create an LLC/S-corp/B-corp/other/nothing? Part 2
Join Josh and Amelie to continue discussing business entities!
Top takeaways:
For most coaches who are part-time and making less than $10k annually, an LLC or S-corp is PROBABLY overkill but depends on many things including how many assets you have to protect.
Hiring employees should be an automatic trigger for entity creation.
There are certain things you can write off as a C-Corp that you can’t as other structures.
You CAN use something like Legal Zoom, but…it’s only as good a...2023-04-1125 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#68: Should I create an LLC/S-corp/B-corp/other/nothing? Part 1Episode 68: Should I create an LLC/S-corp/B-corp/other/nothing? Part 1
Join Josh and Amelie to discuss entities! Should I form an LLC or an S-Corp or…what?!
Top takeaways:
The answer is always “it depends,” and in this case, one of the things it depends on is how much you have to protect.
Talk to an attorney or a financial advisor who specializes in small businesses, and make sure you have a CPA to make sure your LLC or S-corp business taxes are structured correctly.
In some states, a single-member LLC provides 0 liability protec...2023-04-0429 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#62: Ongoing Coaching: How do I continue to show value?Episode 62: Ongoing coaching: How do I continue to show value?
Josh and Amelie complete their three-part conversation about ongoing coaching. This week, they discuss how to continue to show value.
Top takeaways:
Things NOT to do:
Just meet and keep them to their budget.
Set yourself up as an unlicensed, bad therapist (whatever they show up and want to talk about is what we’ll talk about.)
I’ll just be available whenever something big happens.
You need to have figure out what to accomplish over the course of a period of time (often a ye...2023-02-2144 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#61: Ongoing coaching: How do I structure it?Episode 61: Ongoing coaching: How do I structure it?
Josh and Amelie continue their three-part conversation about ongoing coaching. This week, they discuss how to structure ongoing coaching and transition clients into ongoing coaching.
Top takeaways:
Consider offering accountability meetings (hey, I noticed X is happening in your spending, let’s discuss) or coaching meetings (going into more depth on various topics).
Think about your niche and the service that you’re offering–the more change that’s happening in their lives, the more it suggests that more frequent meetings are called for.
You really have to...2023-02-0739 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#60: Ongoing coaching: Should I offer it?Episode 60: Ongoing coaching: Should I offer it?
Josh and Amelie begin a three-part conversation about ongoing coaching, starting with…should I offer it?
Top takeaways:
Many people who offer coaching over time offer it because it seems like the best business decision.
What’s lost in that is…the needs of the client. If your plan for ongoing coaching is, “We’ll meet once a month and talk,” then don’t offer ongoing coaching.
The more change that’s happening in your niche’s life, the more appropriate ongoing coaching will be.
If you’re moving clients fr...2023-01-3137 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#59: What are the growing pains when scaling your part-time side hustle to a full-time business?Episode 59: What are the growing pains when scaling your part-time side hustle to a full-time business?
Join Josh and Amelie as they discuss coaching clients with biweekly pay, including what to do with those magical three paycheck months!
Top takeaways:
The biggest mistake is that people view it as replacing an income–but you’re replacing an entire job (salary AND benefits!), not just your gross annual salary.
The second biggest mistake is that people believe they can replace their job without a leap of faith.
If your company’s revenue drops 20%, your paycheck reflec...2023-01-2436 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#58: How do you handle a client being paid biweekly?Episode 58: How do you handle a client being paid biweekly?
Join Josh and Amelie as they discuss coaching clients with biweekly pay, including what to do with those magical three paycheck months!
Top takeaways:
Josh’s ONLY (at least possibly only!) answer that isn’t “it depends!” The topic? Whether to budget biweekly pay by paycheck or budget monthly.
Deciding what to do with 3rd paychecks is a FUN money conversation! Pay towards goals? Upgrade goals? Splurge on a night out?
When working with a client who works on commission, figure out a baseline of “here...2023-01-1033 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#57: Holiday Special with Josh, Garrett, Amelie, and Emily Part 2Episode 57: Holiday Special with Josh, Garrett, Amelie, and Emily Part 2
Join the whole FCN team as we reunite for the second half of a massive AMA grab bag of questions! If you missed last week’s episode, check that out as well.
AMA questions in this episode:
How do you pitch your services to a company?
How do you decide when to charge for workshops etc.?
How do you help clients evaluate job offers?
How do I market myself as a disembodied voice coach? 😂 (Garrett had his video off!)
Is marketing simply crafting a messa...2023-01-0331 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#56: Holiday Special with Josh, Garrett, Amelie, and Emily Part 1Episode 56: Holiday Special with Josh, Garrett, Amelie, and Emily Part 1
Join the whole FCN team as we reunite for a massive AMA grab bag of questions! This will be a two part episode, so tune in next week for the second group of questions.
AMA questions in this episode:
A potential client says, "I'm interested!" but then they ghost me - how do you follow up/how often do you follow up?
What is the best workflow software for beginners to automate both tracking my pipeline and sending emails or forms (maybe texts as...2022-12-2727 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#39: What to do when couples have a different view of managing money than you?Episode 39: What to do when couples have a different view of managing money than you?
What do you do when your client has a forceful personality and believes in managing their money in a very different way than you do, or has very strong opinions in general? Join Josh and Garrett as they discuss!
Top 3 takeaways:
You cannot force or logic someone into doing something. You have to identify something they care about more.
Sometimes the solution to the issue is outside our financial coaching realm of expertise.
If you understand your clients and...2022-08-3018 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#38: How much time to have between your meetings?Episode 38: How much time to have between your meetings?
Josh and Garrett talk about how to structure your meeting schedule and what to consider when scheduling meetings.
Top 3 things to consider when deciding meeting schedule:
What is YOUR clients’ tolerance for how often meetings should happen? (Clients think more meetings seem better until they get into the process.)
What do you want to accomplish over what period of time? Don’t put multiple Big Deals into one meeting.
What has to happen in between the meetings? If you’re asking them to categorize all their...2022-08-2324 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#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 rea...2022-08-1631 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#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...2022-08-0933 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#35: Responding to Emotion - Navigating Emotional Client ConversationsEpisode 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 client...2022-08-0229 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#34: How to follow up with prospectsEpisode 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...2022-07-2626 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#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...2022-07-1928 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#32: When to hire helpEpisode 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:
De...2022-07-1231 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#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 tr...2022-07-0544 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#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...2022-06-2841 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#29: Paid Search AdvertisingEpisode 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 an...2022-06-2141 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#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 liqu...2022-06-1440 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#27: How do I fire a client?Episode 27: How do I fire a client?
Today, Josh and Garrett have a conversation about how to deal with clients who aren’t working out.
3 key takeaways:
Reasons to fire clients: philosophical differences, clients who are a PITA (pain in the ass..ets), and unethical or illegal actions/activities.
If the client is doing illegal things or trying to involve you in illegal things, no kid gloves. Be as blunt as “I cannot be involved in this so I cannot work with you.”
Consider having a “budget review” where you look at what the recommenda...2022-06-0730 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#26: How do I do quarterly tax filings?Episode 26: How do I do quarterly tax filings?
Join Josh and Garrett as they discuss the boring-yet-super-important topic of quarterly taxes!!
3 key takeaways:
Each quarter's tax payment is due 2 weeks after the end of that quarter. Thus Q1 (Jan/Feb/March) payment is due April 15, Q2 is due July 15 etc.
Do you have to pay quarterly estimates?
Yes - if your tax liability is over $1000.
No - if you look at TOTAL tax payments from ALL taxes (W2, 1099, self-employed, all) and your withholdings from all jobs are going to equal at least 90% of next...2022-06-0134 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#25: What software is there designed for financial coaches?Episode 25: What software is there designed for financial coaches?
Join Josh and Garrett as they talk about what software is out there to make your life easier as a coach. It’s not really feasible to trust clients on their rough estimates of how much they spent; we as coaches really need hard numbers.
3 key takeaways:
Software for financial advisers just doesn’t really cut it; it often doesn’t have great cashflow planning AND can open you up to liability with tools that you’re not legally allowed to use. Plus they’re super expe...2022-05-2432 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#24: How Fellow Financial Coach Amelie Found her Niche, and Early SuccessEpisode 24: How fellow financial coach (and FCN team member!) Amelie found her niche and early success
Garrett and Amelie discuss Amelie’s coaching journey so far, from being one of FCN Launch’s first members to receiving a scholarship for the AFCPE (Association for Financial Counseling & Planning Education) program.
3 key takeaways
Niches are important, even though it can be scary to narrow things down.
It’s ok to change your niche!
Think about WHY you want to start your own business. Entrepreneurship is glorified and not easy!
Resources mentioned in this episode:
FCN Fi...2022-05-1041 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#23: Investments to make in your business as a new financial coachEpisode 23: Investments to make in your business as a new financial coach
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...2022-05-1033 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#22: How to Navigate When Couples Fight or Argue During SessionsEpisode 22: How to navigate when couples fight or argue during sessions
Couples may not openly start yelling at each other during sessions very often, but passive aggressive snips are certainly a possibility. How do you handle those situations?
3 key takeaways
Don’t take sides, as hard as it can be sometimes!
Help each person understand their partner’s perspective.
When one person doesn’t want to take your recommendations, first recognize that your recommendation isn’t always right and then dig into why.
Want help building or growing a su...2022-05-0336 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#21: Best Practices for Asking for Referrals from Referral PartnersBest Practices For Asking For Referrals From Referral Partners
02:23 - Why Not Make Referral Partners Your Priority When First Starting Off
02:55 - Building Up Referral Partners, Building Up That Trust
04:18 - Having a Certain Level of Vulnerability and Honesty With Your Referral Partners
05:29 - No Successful Business Owner Looks Badly Upon You For Having No Clients
06:14 - Every Business Owner Experiences Ups and Downs
07:41 - Maintaining the Relationship With Your Clients
10:42 - Care to Understand What's Going On With the Clients Across the Real or Virtual Table
11:35 - Referral Partnership is Very Much a Personal Relationship
12:45...2022-04-2727 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#20: What Bookkeeping Software Should I Use And Do I Need It?Episode 20: What Bookkeeping Software Should I Use And Do I Need It?
01:20 - Bookkeeping Defined
02:50 - The Tax Rules Related to Bookkeeping
05:13 - Start Doing Bookkeeping Sooner Rather Than Later
08:45 - The Categorization of the Income and Expenses
10:26 - The More Serious You are in Business, the Earlier You Should Start Getting Help in Bookkeeping
11:56 - The Help of CPAs and Bookkeepers in Setting Up Your Business
16:48 - Finding a Good Bookkeeper Helps Save Time and Money
23:52 - The Way You Should Get B...2022-04-1937 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#19: What is a Marketing Funnel and How Do I Create One?Episode 19 : What is a Marketing Funnel and How Do I Create One?
00:46 - Everyone Wants to Know What Funnels are
01:39 - Marketing Funnels That Work…Don’t Work
02:24 - Marketing Funnel = Advertising Campaign
05:26 - Aligning Your Marketing Campaigns with Your Client’s Journey
07:09 - Having Success with a Marketing Ecosystem
08:12 - The Ecosystem and the Funnel Defined
09:33 - The Overview of a Marketing Funnel
11:24 - Understanding the Different Stages of Becoming a Financial Coach
16:28 - The Importance of Building Relationships With Your Cl...2022-04-1231 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#18: How Can I Make My Coaching Process Unique and Have It Stand Out?00:43 - Being Unique Makes Marketing Easier
01:37 - Dispelling the Myth That “X” Is a Commodity
04:22 - Viewing Coaching As a Commodity
05:10 - Being Unique Gives Prospects a Compelling Reason to Choose You Over Anyone Else
09:10 - Why One Size Fits All Does Not Work
12:38 - Challenges and Disadvantages to a Generic Program
14:35 - Followthrough and Referability
15:05 - How Do You Make Your Program Unique?
18:37 - The Work of Research On Your Target Market
23:12 - How Have Some “Generalist” Coaches Made It As a Ful...2022-04-0535 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#17: What to Do When a Client is Resistant to Your Ideas/Suggestions?Episode 17: What to Do When a Client is Resistant to Your Ideas/Suggestions?
02:34 - 3 Reasons A Client Might Be Resistant
03:53 - Garrett’s Experience With a Resistant Client
05:20 - Reason #1 - Coaches Need To Take Ownership of Their Tendency to Judge
09:02 - Really Looking at It From the Perspective of Your Clients
12:10 - Recognize Your Clients’ “Sacred Cows”
15:45 - Reason #2 - Client Doesn’t Understand Why Something is Important
20:31 - Recommendations On How to Start the Conversation
24:14 - Don’t Take Ownership of Other People's...2022-03-2944 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#16: Is Buying a New Car Really a Bad Idea?Episode 16: Is Buying a New Car Really a Bad Idea?
02:33 - A New Car Depreciates Slightly Rapidly
04:12 - Buying a Used Car is Not Always the Better Option
06:13 - New Versus Used Insurance and Taxes
07:51 - Gas Mileage - One of the Hidden Costs of Owning A Car
10:33 - Money Exists So That We Can Use It, Not to Hoard It
12:34 - Different Factors to Consider When Buying a Car
15:18 - Buying a Used Car Versus a New Car
19:04 - Arguing About Buying a...2022-03-2229 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#15: How Do I Spend Less Time Preparing For Client Meetings But Still Provide The Same Value?Episode 15: How Do I Spend Less Time Preparing For Client Meetings But Still Provide The Same Value?
01:05 - Garrett’s Experience from the First Couple of Years of Coaching
02:54 - The Balance Between Process Standardization and Customization
05:07 - Falling Into the Fundamental Trap of Catering to Individual Clients
07:13 - Process Standardization Takes Over Everything
12:55 - Making the Meeting Productive
15:06 - When You Start Scaling Your Business
15:49 - Providing the Same Level of Value With a Lot Less of Time
17:17 - Additional Time for Sal...2022-03-1532 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#14: What are Workflows and Why are They Important?Episode 14: What are Workflows and Why are They Important?
02:49 - Understanding Workflows and Processes
04:43 - Setting Up Workflows for a Project
06:26 - Standardizing a Process with a Series of Steps
08:39 - Turning Processes Into a Visual Workflow
09:49 - Planning Out the Work with the Client
11:35 - Doing Your Work with Less Effort
16:15 - Making Adjustments to the Workflows
20:22 - Using Checklist to Break Down Tasks
24:06 - Financial Coaching-Related Prospect Workflows
29:22 - Don’t Lose Out on Clients and Sales Opp...2022-03-0834 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#13: What are Best Practices When Asking for Client Referrals from Friends and Family?Episode 13: What are Best Practices When Asking for Client Referrals from Friends and Family?
04:10 - Asking Friends and Family to Find You Clients
05:53 - Identifying the Needs of Your Niche
06:45 - Understanding Who It Is You're Serving
09:41 - Why it’s Important to Think of Actual People
13:01 - Having a Reason to Send Client Referrals
16:02 - Being Sensitive to Talk About Money-Related Issues
21:52 - Common Problems in Client Referrals
24:31 - The Transparency of What the Process Looks Like
Want help building or...2022-03-0125 min
The Pilot Money GuysFlight #27: Budgeting with Amelie RiendlA special episode of The Pilot Money Guys featuring an interview with Amelie Riendl: Amelie is a Financial Coach at Mil Money Coach and has spent years studying the best methods for budgeting. She graduated from Michigan Technological University, where she gives back to every year. She has a Master of Engineering in Chemical Engineering from Princeton University. She's worked for Johnson and Johnson as a Senior Scientist and Quality Engineer where she won multiple awards. She is a Project Management Professional® and worked as a Project Manager for FMC corporation and at Integrated Project M...2022-02-2556 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#12: Freebies: When to Use Them, When to NotEpisode 12: Freebies: When to Use Them, When to Not
01:40 - Examples of Freebies
02:52 - Freebies Defined
03:44 - Developing and Designing Your Freebies
05:08 - Freebies Relevant to Your Audience
07:21 - Having a Powerful Connection to the Budget
08:35 - Understanding the Rest of the System
08:57 - The Strategy Behind the Freebie
10:36 - Creating a Freebie Until a Very Specific Niche Has Been Identified
11:42 - Getting the Right People Under Your Niche
13:54 - Creating Unique Freebies to Stand Out
15:49...2022-02-2229 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#11: What is Marketing vs. Advertising vs. Sales?Episode 11
What is Marketing vs. Advertising vs. Sales?
01:59 - Marketing Defined
02:45 - The Three Primary Stakeholders of a Business
05:26 - The Four Marketing Tools of Marketing
11:35 - Marketing is a Lot Bigger Than Just Promotion
14:40 - Developing a Strategic Mission and Vision
15:03 - Advertising and Sales
17:31 - Publicity - A Particular Communication to Your Audience
18:23 - Advertising Explained
21:45 - Using Advertising After the Purchase Relationship
23:07 - Sales Promotion
24:47 - The Difference Between Sales and Advertising2022-02-1537 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#10: How Do I Handle Questions From Clients I Don't Know The Answer To?Episode 10
How Do I Handle Questions From Clients I Don't Know The Answer To?
01: 02 - It’s Okay to Not Know the Answer
01:34 - Making a Lie and Making Something Up
02:49 - Faking That You Know the Answer
02:58 - The Temptation to Lie Without Lying
05:05 - Cultivating the Fear Response
06:05 - Clients May Start Doubting You
07:43 - Don't Be Afraid that You Don't Know the Answer
07:58 - Protecting Your Integrity
09:33 - Charging Clients for the Extra Work Outside of th...2022-02-0829 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#9: Should I Start a Blog or Newsletter?Episode 9
Should I Start a Blog or Newsletter?
02:08 - Irrational Exuberance About Having a Blog
03:31 - The Early Mover Advantage
05:08 - Starting a Blog to Build Relationships With People
07:09 - The Fundamental Problem of a Blog
08:47 - The Difference Between a Blog and a Newsletter
10:30 - Some Best Practices for Blogs
12:09 - Building Authority on Your Website Through Blogs
13:28 - The Time Required to Write a Blog
14:40 - When is the Best Time to Write a Blog?
16:32...2022-02-0133 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#8: How Do I Raise My Prices With Existing Clients?Episode 8
How Do I Raise My Prices With Existing Clients?
01: 52 - Why Many Coaches Ask This Question
02:47 - Misalignment Between your Value and the Price
03:14 - The Fear of Communicating Prices With Clients
04:28 - Raising Your Price
07:29 - Understanding How Your Clients are Going to Perceive Your Price Increase
08:47 - How You Position Yourself Around this Matter
11:25 - Pricing Management, Evaluation, and Update
13:48 - The Inflation Adjustment
14:24 - Making Sure the Cost is Appropriate to Your Cost Structures
2022-01-2529 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#7: What to Do When Clients aren't Following Through on Recommendations/Homework?Episode 7
What to Do When Clients aren't Following Through on Recommendations/Homework?
02:37 - When Clients Don’t Do Their Homework
05:12 - Our Initial Reactions as Coaches
06:20 - The Best Thing You Can Do
07:12 - How to Control the Negative Effects of Your Emotions
09:17 - Exploring Things Both Within and Outside a Client’s Control
10:33 - Understanding the Why Behind It Helps Them Make That Progress
13:43 - Knowing What Not to Push on Certain Things
16:32 - The Importance of Having a Financial Help...2022-01-1829 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#6: What certifications/trainings do I need before coaching clients?EPISODE 6
What Certifications/Training Do I Need Before Coaching Clients?
01: 14 - Certifications and Training Required to be a Financial Coach
02:00 - The Confusion Between Certifications and Licenses
04:59 - Financial Coaching Defined
06:00 - Different Laws/Rules Regarding Certifications and Licenses
07:10 - Being Careful with Insurance
08:21 - Being Careful with Taxes
09:02 - Being Careful with Anything Related to the Law
09:57 - Being Extra Careful with Investments
12:03 – Different Perspectives Within the Financial Coaching Industry
14:37 - Financial Coaching Doesn't Have Any Le...2022-01-1138 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#5: What are the Most Effective Marketing Strategies to Get Clients?What are the Most Effective Marketing Strategies to Get Clients?
2:15 - The Reality: There's NO Silver Bullet
2:59 - Not All of Your Clients are Active on Facebook
6:33 - Do Your Research and Understand Your Niche
7:57 - Finding Alignment With What You Do and Match It With a Potential Medium
9:16 - You Have to Start With Who is Your Audience
12:11 - Not All Marketing Strategies Have the Same Results
13:53 - Getting People to Go Through a Series of Processes
14:17 - What Ad Campaigns Do in Marketing?
15:44 - Focusing on a Particular Channel and Building Engagement With Your Audience
18:11 - Lev...2021-12-2834 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#4: Should I Put My Pricing On My Website?EPISODE 4
Should I Put My Pricing On My Website?
01:47 - The Existing Debate Over This Topic
07:07 - What’s Behind this Question
09:15 - The Point of Views From Different Perspectives
14:43 - Potential Conflict of Interest
17:56 - Will It Stop Me From Getting Clients?
18:35 - The Value and Benefits to Justify Your Price
21:08 - Can Sales Calls Be Manipulative?
22:28 - What’s the Sales Call All About?
23:28 - Putting the Price on the Website May Lose Potential Clients
25:23 - Pricing on the Website Builds Trust
27:13 - Adjusting Your Price
30:52 - Should You Lower Your Price to Get More...2021-12-1447 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#3: Managing Impostor Syndrome Around Your Coaching ProcessEPISODE 3
Managing Impostor Syndrome Around Your Coaching Process
01:51 - Defining of Impostor Syndrome
04:50 - An Effective Way to Embrace Impostor Syndrome
11:45 - Realize Where You are and Where You Need to Go
18:15 - Look for the Information Relevant to Your Clients
20:35 - Identify Your Actual Coaching Process
23:31 - Why Workflows Build Confidence
28:20 - Let Your Clients Know Your 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 Fac...2021-12-0737 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#2: How to Get Clients at the Beginning of Your PracticeEPISODE 2
How to Get Clients at the Beginning of Your Practice
2:44 - How do I get my first few clients?
14:19 - Building Trust
15:31 - Building Confidence
20:53 - Your First Group of Clients
24:50 - Things You Shouldn’t Do When You’re Starting Off
26:15 - Social Media Influence
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!
- Already...2021-11-3039 min
Financial Coaches Network - The Podcast: Build your Financial Coaching Business#1: Your Successful Financial Coaching Business: Help with Getting Clients, Working with Clients, and Running the Business.EPISODE 1
Your Successful Financial Coaching Business: Help with Getting Clients, Working with Clients, and Running the Business.
Financial Coaches Network Podcast: All You Need to Know About Financial Coaching
01:38 - Garrett Background
4:18 - Josh’s Background
7:12 - What is Financial Coaching?
11:55 - A Holistic View of Financial Management
13:34 - What is the Purpose of This Podcast?
17:21 - How to Define Your Niche
18:15 - What Do People Get From Listening to Your Podcast?
18:23 - The Three Pillars for Successfully Building a Financial Coaching Business
18:55 - How do I get clients?
20:58 - Working With Clients
22:46 - Ru...2021-11-2330 min