You have decided to use an executive coach or a business coach. You do not want to move in the fog anymore, you alone, and you want someone at your side to push your performance. But what investment does it require? I will answer this question in this article.
Your business has reached a plateau, enters a difficult period or is growing.
In any case, it is a situation that you, as a leader or manager, are not used to dealing with.
And you have to go beyond, to always look for more performance. But for that, you need a shoulder to rest on.
So now that your decision becomes clear, comes the question of investment.
What should I expect as a cash advance?
How long will it take me?
What other investment will I have to make?
I answer all these questions later in this article.
First question: what is the average price of an executive coach?
Let’s cut in the quick: how much will it cost me?
To answer this question, it is necessary to understand … things.
Some coach will practice a fee per session, others in the month and others in the program.
It will depend on your expectations and how your coach works.
What is absolutely necessary to do first is to know if you have a good feeling with your Executive Coaching in Melbourne. To choose the right one.
You must also understand what you are buying.
This is not the simple knowledge you could have acquired elsewhere.
It is a transformation in which you invest.
So you need to know the feedback you can expect from coaching from the moment you are fully invested.
In the context of a commercial coaching, the return can materialize in terms of turnover, profits or new customers.
In the context of other coaching, the value will be different but just as concrete. It’s up to your coach to help you plan your best in the outcome of your collaboration.
All coaching is geared towards this brighter future. It is according to this that the price of a coaching is calculated.
In concrete terms, the price of a session can range from 300 $ to + 1000 $. This is often not enough to go further.
This is why some coaches speak in months of support, ranging from 1000 to + 5000 $, depending on the quality of the coach, their experience and their ability to facilitate transformations.
Finally, some offer comprehensive support programs, focused on specific objectives. These programs include sessions and other services / products designed to achieve the stated objectives. So it depends on the coaches and the ambitions that they could achieve.
Count therefore investments of 2000 to 10000 € for tangible and concrete results. Below, you might be disappointed.
Second question: how are coach rates set?
Several elements are to be taken into account in the pricing of a company coach. Like any service company, it is not possible to easily make economies of scale (“scaler” to use the jargon start-up).
In concrete terms, there is a choice to be made Number of clients vs Quality of service: the more clients you have, the less quality your service will have (with the same number of staff). Conversely, the fewer customers you have, the better your service will be (if you are a good professional I hear). This has an immediate impact on the value you bring.
1. Its operating costs and variables
First of all, a coach exists because he or she is the head of a company that has to run.
Obviously, this is an administrative, accounting, communication, subcontracting cost. Normally, a coach makes sure to concentrate as much as possible on his job, and this requires a team with the required skills. And this has a cost for the company.
2. His initial and continuous training
What you pay for a coach is both his professional qualities and his experience.
Both take time to mature and talk, and this requires a training effort in terms of time and financial investment.
These are all expenses that you will not have to do for you.
3. Ancillary services
As a coach, I do not consider that my work stops at our session. I see further and offer many other services to bring you more value.
These ancillary services mean that I can only take a limited number of clients. It is therefore important for me to have a good ratio value given / perceived value, in order to always provide you with the quality of service that you expect.
4. The type of customer
The coach can also make a calculation on the financial capacities of the client, and not think in absolute terms. Some prefer this solution so that the better-off finance the support of the youngest.
This is more difficult to communicate in a transparent way. However, she is commendable to me.
Third question: what are the terms of payment?
This differs from coaches.
Some ask for a cash payment, others offer more flexible formats: down payment, payment in several installments without fees.
There are even some coaches (of which I am a member) who, in some cases, can offer part of their remuneration on profit-sharing.
This requires a precise framing, but can be interesting.
It is also possible that some programs are partially supported by OPCAs. The condition is that the company is Training Organization, even better if it is referenced Datadock (which is also my case).
In this case, this support comes into the fold of training designed to move companies forward. So much to enjoy, right?
Another point to take into account: coaching can also be taken into account in the context of the ” Head Tax Credit “. It is a question of postponing the number of hours spent in training, within the limit of 40 hours, and multiplying it by the SMIC in force. You retract it after the amount of income taxes you report on the current year.
Fourth question: Do I have to plan another investment?
The last investment you will need to make is to allocate some of your time and energy.
This financial investment makes sense only from the moment you invest yourself in it.
It will therefore block time slots for this and to plan to work outside sessions.
You will think about many questions, learn new skills, set up new tools and adopt new habits. These are all changes that will transform your daily life.
And it requires an investment other than financial. You must be aware of it today to really make the most of it.
Now you know how the price of a coach is. You know that this will be an important investment for you and your business.
But you also know why you will do it. And you must put in front of this investment the cost of your inaction.
Ask yourself: if you do not change anything today, what risks do you take?
This question should allow you to put perspective in your reasoning, and facilitate your decision.
Do you want to talk about it live with me, find out how I rate concretely and the results you can expect?