We caught up with the brilliant and insightful Bill Mason a few weeks ago and have shared our conversation below.
Bill, appreciate you joining us today. Looking back at the decisions you made early in your career, particularly whether to join a firm or start your own, do you feel you made the right choice for that stage of your career?
Around seven years ago, my friend Dave Mead approached me with an opportunity. He was starting a coaching company called Wealigncoaching and asked if I’d be interested in doing some CliftonStrengths leadership coaching. Initially, I wasn’t impressed with the Clifton strength assessment. When I took it, I didn’t feel like it helped me much. It simply told me that I had a strong inclination towards influence, which I agreed with, but I didn’t find it particularly beneficial.
Despite my reservations, Dave insisted that the coaching he had been doing was truly transformative and offered it to me for free. I decided to give it a try, partly because I wanted to support Dave’s business. Little did I know, that decision would change my life.
In just one session, Dave completely opened my eyes. I learned more about myself in that one hour than I had in the previous five years. It was a revelation. So, during our second session, I couldn’t help but ask Dave how I could become a leadership coach like him. And that’s when my journey to become an ICF PCC-certified leadership coach began. It has been an incredible experience.
Even today, I remain a founding partner in Wealigncoaching. We now have 10 coaches working with us. Additionally, I took the leap and started my own company, Rocket Fuel Coach, about four years ago.
Our companies have a symbiotic relationship. I use my rocket fuel coaching company to create and test new products, while We Align products serve as our standard offering packages. The combination has proven to be wonderful.
Running my own business has proven to be more challenging and costly than anticipated. However, I have gained exponential knowledge in effectively communicating my message, adding value to my clients, and shifting my focus to their needs rather than my own. I have also overcome limiting beliefs that hindered my progress.
Through my 30 years of mentoring young leaders and laborers, I have helped numerous teams and companies create work environments centered around their own values, not the values of others. I wouldn’t trade this arduous journey for an easier one. Coaching with Dave has been transformative, and my clients have experienced similar transformations as they discover their true identities and focus on their strengths to become the best versions of themselves.
I continue to increase my revenues each year by refining and offering better products for my clients. I provide tools that empower individuals to move from mere feelings to taking action towards their goals. They transition from feeling like failures to feeling like courageous leaders. I have seen teams that were plagued by conflict transform into cohesive units with minimal to no conflicts. I have witnessed teams that were stressed from working in areas of weakness thrive and maximize their growth, ROI, productivity, and joy.
As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your back background and context?
I am Bill Mason, a Rocketfuel coach specializing in strengths-based leadership. With eight years of experience as a leadership coach and over 30 years of mentoring in the nonprofit sector, I am passionate about igniting courageous leaders and unlocking the potential of their teams.
At Rocketfuel, we primarily work with CEOs and business leaders who are transitioning or seeking to expedite their progress. Many of our clients come to us dealing with imposter syndrome or feeling overwhelmed by their responsibilities. They may also feel isolated or uncertain about making decisions that benefit both themselves and their company. Our goal is to help them find balance, overcome challenges, and create pathways to success.
One of our signature programs is the Ignite Course, a three-month coaching program that revolves around the Clifton Strengths assessment. This assessment helps clients identify their unique strengths and weaknesses, enabling them to delegate draining tasks and focus on activities that energize them. We are proud that at least 10 clients have left unfulfilling jobs and transitioned to positions they love, which are not only energizing but also profitable.
Through our coaching, we have witnessed remarkable transformations. Teams that were once plagued by conflict have experienced improved collaboration, increased ROI, productivity, and profitability. Work environments have become more enjoyable, with employees finding fulfillment and making significant contributions.
For our CEOs, we offer ongoing coaching through our Accelerate Course, providing monthly one-on-one sessions with a leadership coach. This enables them to brainstorm freely, gain awareness, and clarify issues they are facing. Together, we set achievable goals with both minimum and stretch targets for the upcoming months and years. Our clients appreciate the accountability and support they receive as they work towards these goals. We are deeply committed to their growth, development, and the success of their companies.
In addition to individual coaching and executive coaching for CEOs and their teams, we also provide team trainings. Our trainings are designed to help teams leverage their strengths while minimizing weaknesses, thereby maximizing performance. By delegating tasks that drain them to others who excel in those areas, teams can achieve outstanding results. We believe that just as writers and editors each have their roles in creating works of art, teams can thrive when everyone contributes their unique abilities.
Our team trainings come in various formats, including luncheon learns both in person and online, as well as four-hour, eight-hour, one-day, two-day, three-day, and four-day in-person team building seminars. Each training is tailored to meet the specific needs of the team, fostering productivity, profitability, and joy.
At Rocketfuel, our tools and approaches encompass strengths, neuroscience, team building, and a blend of directed and non-direct coaching. We are dedicated to helping our clients achieve their goals in a way that resonates with them.
In summary, Rocketfuel is here to empower leaders, transform teams, and drive success. Our ultimate value lies in our clients’ success, and we are wholeheartedly committed to supporting their growth and achievements.
Can you talk to us about how your funded your business?
I started my company as a side hustle without intending to create a full-fledged business. I planned to offer coaching services on the side, helping a few individuals make some extra income. I hoped that the revenue generated from my clients would cover the cost of my coach training, which amounted to around $15,000.
While I had faith in the quality of our products, I lacked confidence in charging competitive rates for my expertise. I held onto limiting beliefs that hindered me from valuing my products appropriately. This mindset stemmed from my upbringing and persisted for most of my life. I often underestimated my worth. I know now that this is a poor mindset! This is also a scarcity rather than an abundant mindset, which I now have.
During the second year of my business, I invested $15,000 in a coaching program aimed at business growth and personal development. Despite the higher cost, I chose a monthly payment option to create a monthly target that I needed to achieve. I offered our signature coaching product, the “Ignite Course,” as a one-on-one coaching package priced at $999.
I aimed to generate $30,000 in revenue by selling 30 of these products, averaging around 2.5 monthly sales. However, I surpassed my goal by 50% and earned approximately $47,000 that year. This success boosted my confidence and allowed me to increase the price of the same product to twice its original value.
Additionally, I enhanced the product by adding various features, which justified the price increase. As the value of my product grew, so did my pricing. The revenue generated from the business covered the cost of my coaching program in the first year, and I am now entering my third year of the same coaching program. Paying appropriate prices for the coaching I received enabled me to charge reasonable fees for my products, overcoming the limiting belief that coaching was not valuable enough to invest in.
Live Your Message, my company, made this transformational journey possible, which helped me recognize my true value, eliminate limiting beliefs, and strive for excellence in offering transformational products. People are willing to pay for these products because they experience a 10x return on their investment.
Now, I charge competitive rates for my services and focus on a select group of clients to maximize their transformation while maintaining a healthy work-life balance. To create a margin for both personal and business growth, I dedicate one day a week, one week a month, and one month a year to business development, personal development, and extra time with my spouse.
Additionally, I prioritize work-life balance by coaching only four days a week, from 1 PM to 5:30 PM, for three weeks out of the month. The last week of each month is reserved for group coaching sessions and further business development. I also cherish the time spent with my amazing wife of 33 years, Anna Mason.
This journey has taught me the importance of valuing my services, prioritizing personal growth, and creating margins in business and life.
What do you think helped you build your reputation within your market?
We offer exceptional products at affordable prices. Most of our clients come from referrals, the Chamber of Commerce, networking events, or through our website, where they book a call with us.
When you invest in our coaching products, there is a significant cost involved. However, we are confident you will see a great return on your investment. We have had 10 individuals change jobs within the first two months of our deep-dive, one-on-one coaching sessions. Our coaching has helped them realize that they were stuck in unfulfilling positions that drained their energy and left little room for their personal lives. As a result, they leaped and found new jobs that brought them more happiness, higher pay, and a more enjoyable work environment. These success stories are a testament to the effectiveness of our coaching services.
As we deliver exceptional services, our clients experience transformation in their lives, leadership abilities, and team dynamics. Conflict is reduced, and our clients are so satisfied with the results that they refer us to others they trust and believe would benefit from our services.
We firmly believe that when you provide outstanding services at an affordable price and deliver a return on investment that surpasses the cost of coaching, people are more than willing to invest in your product. Consider this: it can cost up to 50% of an entry-level employee’s salary to replace them. Instead of spending $20,000 to replace an employee who earns $40,000 per year, you could invest just $2,000 in coaching to develop their talents and potential, resulting in a valuable and satisfied employee. The value of coaching far outweighs the risks involved.
Let me share an example of one of our clients. A young leader was performing exceptionally well but struggling in their operations role. We discovered that the individual was better suited for a sales position through coaching and personality assessments. After making the switch, this person quickly landed several multimillion-dollar clients for the company. This story highlights the importance of finding the right role fit, as Steve Jobs did when he became the creative genius behind Apple, leading the company to become the first billion-dollar company in America.
We are committed to delivering excellence and ensuring our clients achieve remarkable results in their lives, leadership, and teams.
Contact Info:
- Website: www.rocketfuelcoach.com
- Instagram: https://www.instagram.com/teamrocketfuel
- Facebook: https://www.facebook.com/rocketfuelcoach
- Linkedin: https://www.linkedin.com/in/bill-mason-81015811/
- Twitter: https://twitter.com/Bill_Mason_RFC
- Youtube: https://www.youtube.com/channel/UCZrYJYnkDUJiZocuQBIMWEw?sub_confirmation=1
- Other: Sister Coaching Company – www.WeAlignCoaching.com