Coaching Case Study #1
Flemming Business Services
Client: Suzette Flemming, Owner of Flemming Business Services, offering accounting and financial services to businesses in the US.
Issues: Direction, Time Management, Fees, Marketing
Situation: Suzette initially wanted Coaching to help her with the future direction of her company. Our initial discussions revealed she was also looking to be in control of her business and time. She felt there was a lack of separation between her work and personal life. She wanted to set some time boundries and not always feel overwhelmed by all the work she was doing at once. There was also a desire to take her business to the next level as far as revenue was concerned without hiring another person or working longer hours.
Program: Weekly Coaching calls, unlimited email contact, emergency calls when needed.
Current results: A common problem among people who work from home is turning off the computer and spending time with the people they stayed at home to be with in the first place! We set Suzette up with a weekly schedule, to give her a time each day when her business ends and her family time begins. By creating this schedule we slotted in time for all of her ongoing clients so she would have a better grasp of what she had to do the following day/week/month. After setting a schedule it was put into the Calender in Microsoft Outlook so she could glance at what she was going to be doing at any time.
In regards to future direction, she was looking to increase her revenue and as a bonus feel more valued. This also meant taking a look at what she was offering to potential clients. Initially she wanted to offer both financial and marketing services but we decided to solely focus on financial since it was her specialty and the two services differed widely in approach and target clients. To increase her revenue, we discussed three potential ways to do it (hire someone, work more hours, raise fees). Since the first two were out of the question, we focused on the “raise fees” option. Not only did we raise her fees, we also changed the way she charged her clients.
Instead of charging by the hour (which is traditional and fairly standard), we set-up value based fees. When she charged by hour she would be penalized by a reduction in revenue if she finished something quickly and became more efficient at it. Not exactly an incentive to improve! Also, Suzette’s value is not just the time she spends on her client’s financials but also the years of experience she brings to the table. She now charges her clients a set fee, either by quarter or by month, dictated by objectives rather than by time.
Below is a letter that Suzette sent to someone who was skeptical about my Coaching services and had a few questions:
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