Welcome to our complimentary CoachTrack Tips Newsletter. On a monthly basis we will focus on specific helpful tips for streamlining your practice. These tips will give you more ideas how to increase your efficiency and improve your coaching practice. We sincerely hope you enjoy the CoachTrack Tips newsletter and will utilize it to create a better, smoother and more organized coaching business for yourself and your clients.
This month's Coaching Tip: In order to be recognized as a Professional, you need to use professional tools that allow you to be in control of your business.
P.S.: Enjoy and feel free to forward this Newsletter to other coaches!
CoachTrack Tips - May 2006.
Tip #4 "Invoicing Made Simple"
What's the hardest part about getting paid for your coaching service in a timely fashion? Most Coaches would agree: Sending out invoices in an organized and timely fashion is the number one factor in getting clients to pay you on time! Yet, many Coaches still avoid sending invoices, and others use an outdated, old-fashioned way of sending a "receipt" or "bill". Whether your clients pay you a monthly, weekly, or hourly rate, if you're in business, invoicing still needs to be done! Even if you use a system like Paypal to have clients automatically wire you money, a proper invoice with your company info, logo, rates, taxes, and due date for payment should always be sent to your clients anyway.
Reasons why you should always send out a professional invoice: 1) A professional looking invoice with detailed payment information will give your client confidence in your service. 2) Not sending a proper invoice can haunt you later; it can also create misunderstandings and diminish your professional relationship with the client.
3) Invoicing your clients will let you be in charge of your finances and know what money is coming in when.
4) Invoices will help your clients keep track of their expenses.
How could not sending an invoice haunt you later?
First of all, an invoice is an important document. It is needed for your own accounting records, and often clients use it for their own accounting records. Invoices will help you stay on track of your income. For clients, invoices are a tangible record of what they need to pay or have paid you, their coach. In my career as a Coach, I've had a client come back one year after coaching, saying: "I want to use the coaching sessions as a tax deductible expense. Can you tell me of what I spent on coaching last year with all the tax details?" I've also had this other request once: "I'm sorry, I moved and lost all my invoices you gave me 2 years ago. I need them. Can you send them to me again?"
Do you see what may happen if you weren't prepared for such and other client requests? Thank goodness I was using CoachTrack, the client management software, when any of these requests happened. With these requests, it was easy for me to go back into the data base, point to the client's name and pull the requested information out. I then simply emailed the requested invoices back to the clients. They could print the invoices and file them. It only took a few minutes for me and it was done! Not only that, I looked organized, professional and prepared. The clients were so impressed, they recommended me to other people, and as a result, I received more business. Now, that's providing a professional service!
The simple solution to the task of invoicing is to use a client management software, such as CoachTrack. A good software system is versatile; it will allow you to store all your info so that it's easily found. It will also allow you to enter your client invoices easily and quickly, and show you all previous invoices. This computerized system will make invoicing a breeze!
If you already own the CoachTrack software, you're ahead of the game. CoachTrack is very user-friendly, and it's simple to set up. Here's how to use the "Invoicing" features in CoachTrack. If you're currently using another system, please feel free to compare it to CoachTrack.
How to create Invoices: 1) On Main Menu, select your client by name.
2) Click invoice entry button.
3) You'll be in client's file. Now select "Add new invoice" button. (Yellow plus sign)
4) Enter invoice number.
5) Choose which (personal or business) address to appear on invoice. 6) Choose which invoice it is: Service or Product.
7) Select type: i.e. Coaching, Tapes, Workshop, Teleclass, etc.
8) Enter details of invoice. 9) Enter notes you want to appear on invoice. 10) When you exit, invoice is automatically saved.
How to Print Invoices: 1) Click Print button. This will show you a preview of the invoice.
2) Click "File" and "Print".
How to Email Invoice: 1) Click Email Button and email it out.
Your Benefits to Using the Invoice System: - Automate your invoicing!
- Get paid quickly by sending invoices on time!
- Ease of invoicing through the email system! - Keep track of your invoices with this system! - Stay organized!
If you do not own a copy of the CoachTrack software yet, we encourage you to download a free, 10-day trial version to experience this great feature. The trial CoachTrack version is fully functional, meaning it is equipped with all the features the software has and will help you get organized immediately. You can enter all your client files and records to experience how it works. When it expires after 10 days, and you wish to purchase the program, simply call us and we''''ll activate your software; your records will remain active and continue to be available to you.
Call to activate your software, Toll Free: 1-866-717-8700
If you have any questions regarding CoachTrack features and benefits, please email: David@Coach-Track.com
The CoachTrack Tips Newsletter is written monthly by CoachTrack team member, Life and Guidance Coach Karin Bauer*. We welcome your feedback on this newsletter. To share your thoughts or questions, email Karin@coach-track.com.
*About Karin Bauer: Karin is an innovative, visionary mentor coach for coaches. A few years ago she had a vision of helping other coaches become organized in their practice - so she co-designed and co-created CoachTrack. Karin is offers other cutting-edge, web based coaching tools.
Learn about the most common problem seen in auditory coaching at www.GuidanceCoach.com. Guidance Coaches have the ability to provide impactful, visual coaching sessions - find out how at www.GuidanceCoach.com today.