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What is the Price of an Executive Coach?

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.

What is the Price of an Executive Coach?

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?



THE BUSINESS COACHING PROCESS, STEP BY STEP

We have spoken on other occasions of what is business coaching and how it can help your company. Today, we present you the process of business coaching, step by step.

HOW IS A BUSINESS COACHING PROCESS DEVELOPED?

Like any process, coaching has a series of well-defined stages and it is important to continue to achieve the objectives of this methodology. Starting with the definition of objectives, and ending with the analysis of results, we present you step by step the process of business coaching:

1st: Establish the goals. On other occasions, we have defined coaching as the process by which the coach attends the coachee (or the coachees) to achieve their objectives. Therefore, the first step when approaching a coaching process is to trace and define those objectives.

We have also pointed out that coaching is developed through a methodology based on questions. Although it will take place throughout the whole process, this methodology is especially important during the setting of goals: they must be specific, measurable, realistic and defined objectives in time.

2nd: Examine the current situation. Once the goals are defined, it is time to begin to understand in what state the situation is. The most important aspect of this stage is objectivity: although difficult to achieve, impartiality is vital for a realistic analysis of the current situation.

Also at this stage is the methodology of questions, but more important is the work of observation of the coach and his listening skills. Analyzing each answer of the coachee before formulating the next question is vital, as well as asking very precise questions that allow obtaining very detailed answers.

3rd: Analyze the possible alternatives. The objective during this third stage of the coaching process is to create a list of available action alternatives. The important thing here is to obtain the largest number of options, not the quality or feasibility of the same: the only way to achieve creative solutions is not to throw away our ideas in advance.

After making the list, it is time to choose the alternative that seems best, taking into account the costs and benefits of each of the proposed options. It is important that it is the coachee who arrives at the solution by himself, although always with the help of the coach.

4th: Design an action plan. The purpose of this phase is to design an action plan. It will be necessary to create a specific plan for each goal that has been marked in the first stage. Following the coaching methodology, the coach will accompany the coachee during the design of the plan through the formulation of precise questions.

5th: Follow-up stage. Every business coaching process from unlockingyourfuture.com.au/ includes a final stage of evaluation and follow-up with the aim of providing feedback to the coachee on the actions carried out following the action plan. Thus, progress can be checked and future problems prevented, as well as reinforcing the learning of the coachee.

THE BUSINESS COACHING PROCESS, STEP BY STEP

WE GET THE BEST PERFORMANCE FROM YOUR TEAM

Among the immediate benefits of coaching are, for example, the improvement in the decision-making process, the faster and more effectively reach of the objectives and goals of the organization, and the acquisition of new competencies and responsibilities.

However, coaching must be a flexible tool, adapted to the needs of each company, leader or organization: the process must be traced with sensitivity and empathy, understanding the organizational context and the current situation of each company. Even more so bearing in mind that in many of the occasions, the services of the coach are required when the companies go through transformation processes.

 



Difference between Internal and External Financing

Below this post is all about the detail explanation of internal and external financing? Finance is an important part of business and acted as a blood running in our body for life.

Difference between Internal and External Financing

Internal Financing

Retained earnings: When a company has profits, it can make the decision to separate part of them or their entirety to reinvest them in operations.

Issuance of shares: In the limited company, the contributions of the partners are captured through the issuance of shares, which may be common or preferred.

External Financing

  • Short term

By credit institutions: The operations that can be carried out with this type of entities to obtain short-term funds, among others, are the following:

  • Direct loans
  • Discount of documents
  • Secondary loans
  • Other sources: Companies can obtain funds through other modalities, such as:
  • Advance customer
  • Accounts of suppliers

Long-term

By credit institutions: The destination of these credits is oriented in particular to strengthen the other sources: fixed assets of the industries and are generally backed by mortgage and / or collateral. There are other ways to attract resources, such as financial leasing and the issuance of obligations.

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