Income Stream #7
Sell or offer assessments and interpret the results.

 

from coachville.com

 

Introduction
Assessments are tools that give clients valuable information about their working style and preferences, or their behavioral and/or personality traits. Depending on the type of assessment, the results can support individuals in finding the right work or work environment for them, how they are in relationship, etc. Organizations may use assessments during the hiring process to ensure the individual is a good fit with the position and the company.

Coaches can sell assessments that are completed by clients online or by hand. Assessments can be taken out of context if the client does not know how to interpret the result. Therefore it is wise to offer result interpretation as part of your service.

Typical assessment tools used by coaches include:
  • DISC
  • Myers-Briggs
  • Enneagram

Training may be required to use and interpret assessments tools. Check with the company that created the assessment or the assessment supplier.

Real World Example

Lanny Lindteigen: Performance Prediction Profile
llindteigen@cox.net

The main instrument I use is called the Performance Prediction Profile. It predicts for a hiring executive how a new job applicant or promotion candidate will perform on the job in that company and/or for that manager/executive. The profile is done verbally and is usually done by telephone. Feedback is also usually done by phone, and I build and strengthen my relationship with the hiring executive during these calls, as we discuss what the position needs, what this executive needs, what the company needs from their people.

The profile gives information in fourteen categories of how the candidate thinks, works best and is best motivated. Even more guesswork is removed if I can profile at least 10 top performers in the same position, that the executive would love to clone. Those 10 will have virtually identical profiles, and a candidate who matches this benchmark/composite profile is almost certain to perform as well as the 10. The fee for a basic profile is $200, which includes up to 45 minutes with the candidate and 15 minutes' feedback with the employer.

I began selling the profile as a separate service in 1990 as an added revenue stream to my trainings. I began coaching in 1993, from opportunities generated during the profile feedback calls with executives. When these executives migrate to another company, they usually "take me along." Since 1997, over 78% of my coaching, and 66% of my training (selling, people managing, team-building), has been generated in these conversations, so I spend little time 'cold-calling.'

Alicia Smith: DISC Assessments
discninja.com | alicia@aliciasmith.com

Hi, I'm Alicia Smith and 1/3 of my income comes from passive income streams. The majority of this income is assessment based (DISC, Team, Time Management, Coping & Stress). Through my Executive and Solopreneur (coaches, consultants & trainers) coaching, teleclasses, and Distributor support network, I am able to offer DISC and other products to a wide variety of people. The product line is so expansive that there is virtually something for everyone and every situation. In addition, I've written one ebook (DISC Ninja's Document Wizard) and am in the process of creating two others (DISC Ninja's Proposal Wizard and DISC Ninja's Office Wizard). I'm constantly amazed at how exciting it is to create passive revenue!

How I Got Started: After 7 years of being on the road 70% of the time, conducting corporate trainings and coaching sessions, I realized I needed to better leverage my time. It was then that I discovered the DISC product line. How exciting to find high quality, leading edge coaching and training tools/resources packaged and ready for immediate use! I remember feeling like a kid in a candy store!

Why I Became Passionate About DISC: The DISC profiling system lets me see my strengths and weakness in black and white; allowing me to create my life so that I can play to my strengths more often. It also allows me to acknowledge my weaknesses so that I can get those tendencies complemented by others who are strong in my areas of weakness. As an example, I move at a fast pace and have a high need to see results quickly. I now know (and appreciate) that a more methodical, detail-oriented person is my best complement when hiring an administrative assistant.

Why DISC Has Universal Appeal: It is highly validated by research, observation and the end-user. It has endless applications - I use it daily in coaching, training, and teamwork. Any time there are 2 or more people communicating it's of value. It allows me to identify, communicate, sell, and service clients based on their needs, not mine. And, when the client is interested, they can learn the same for themselves. I often teach my clients how to self-coach using DISC.

Having passive income streams begins to free us up - more time and money to pursue our dreams and desires. Having support networks such as those available to DISC Distributors gives us an immediate and available alliance of peers. We can draw ideas from the experiences of others so that we don't have to "reinvent the wheel." Most of all, it allows us to devote our time and energy to what really feeds our soul - and isn't that what A Perfect Life is all about?

Dan Moran: Become a Hiring Resource
coachforleaders.com | dmoran@coachforleaders.com

Become a resource to companies that are hiring .... This has been the backbone of my practice in years past, and generates residual revenues through utilization of assessments as a pre-employment selection tool. I work this revenue stream two ways:

Serving as a resource (notice I did not say recruiter), coaching the business owner or hiring manager in accurately defining the position they wish to fill, writing the help wanted ad, on-line posting and other recruiting tools, conducting initial resume review, initial phone screen and then conducting face-to-face interviews with (or without) the owner or hiring manager. (Note: Often I just do the initial phone screen and in-depth interview by phone, if distance is a challenge.) I then facilitate the hiring decision, so good quality candidates are secured in a timely fashion. After that, I may be retained to work with the new staff member on their orientation into the company. I will charge anywhere from $1,000 to $5,000 for this service, depending upon level of candidate, location and services required.

The real beauty of this service is this: Once a company begins using assessments for pre-employment selection, they consume and consume them. They come back to you for more "tests," creating a residual income screen. The assessments I use are normally inexpensive behavioral typing instruments ($15 each) for most, and sometimes, more in depth profiles ($75 each). These are administered by the company; I run the software based results, and supply a report -- always with a customer "touch" call to be sure they understand what they have received.

To start - identify smaller companies in the area (the best targets in my mind), and build a database for direct mail, email and phone follow-up. It's very basic --- and very profitable.

Tonia L. Carrelli: Present Assessments in Workshops
coachingmatrix.comdiscninja.com | tonia@coachingmatrix.com

I found often through my career in corporate and as a Coach, that managers weren't understanding the full concepts/needs to be a manager - especially those who were self-employed. I decided to do research, interviews of successful entrepreneurs and create an assessment specifically for Small Business Owners. I ran the assessment by those I interviewed to get their feedback, made the modifications and set out to do presentations.

I set up a few dates with different professional associations and offered them samples of the assessment - either full or modified, depending on the length of time I have to present, and had them complete them in order for them to discover their "gap." I spoke to my audience about their gaps, how coaching can support them in closing their gaps.

I asked for a volunteer to be coached in a "mini-coaching role-play" on an issue of their choice from the assessment. I believe if people can see what coaching is about, they are more likely to see the benefits for themselves. From each of the presentations, I attracted coaching clients.

Suggestions Related to Selling or Offering Assessments
Determine what type of assessment would be of benefit to your clients or niche.

Research the various assessments and try them out. Make a note of your personal experience with the assessment and the result.

Assess whether they provide quality results that can be used. Look for assessments with validated results.

Determine the role of assessments in your business. Will you offer assessments and interpretations as a separate service? Or will they be part of your coaching package?

Related resources
Coachville's 3 Step Trainings include DISC assessments (#14). Look in the membership area at Coachville.com.

Stay tuned for Assessments Training coming soon to Coachville.

The above services are from CoachVille.com.







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