Coaching School

The Coaching Pricing Model

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costMany people new to the profession of coaching often find themselves, from the outset, unprepared for the challenge of how much to charge clients. This is largely due to the intangible nature of the service and whether one should use the traditional “Cost Plus” or the “Value Added” model of pricing. Let’s explore both.

Cost Plus

This is very much the model that is used based on the costs incurred by the provider, in this case the coach. Traditionally the legal, consulting and accounting profession, calculate an hourly rate based on the direct costs of labor consumed in addition to some calculated overhead allocation. The trouble is within the coaching profession you could hear anything from $50 to $500 per hour. With such a disparity it is small wonder that new coaches are very unsure what to charge because there really is no benchmark. In addition this can be very limiting relative to what a client might actually be willing to pay; aka leaving money on the table. The client might feel they got a good deal but leaves a bitter taste in the mouth of the coach which is never good in the long term.

Value Added

A more favorable model that is emerging is using pricing based on the potential value to the client. This of course begs the question as to how one might determine value. The answer lies in putting considerably more effort in up front to determining what the client wants or what success might look like. In pursuit of this information, one’s coaching abilities will be clearly demonstrated, affordability of client will be better understood and relationships get developed thus aiding the overall selling process. All of this leads to being able to make a better assessment of how the individual / organization could truly benefit from the coaching service. The consequence of this approach is that, more often than not, a price is arrived at that very adequately compensates the coach while at the same time providing the client with a clearer sense of value for money.

So the next time you, as a coach, are faced with a quandary of how much to charge, spend more time upfront coaching them, better understanding the need, building the relationship, demonstrating your abilities and ultimately closing the deal.

Coaching: How difficult can it be to sell?

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sellDan Pink in his uniquely literary style, “To Sell Is Human” challenges us to accept the fact that although you may not be in “Sales”, we are in fact selling most of the time. The Webster dictionary defines selling as “to give up to another for something of value”. Implicit in this definition is the idea that some form of mutual exchange is actually taking place which we normally consider relative to a product or service in exchange for money.

When you broaden this definition of selling, you are getting into the realm of influencing, cajoling, asking and indeed coaching. Dan Pink argues that selling is all about moving people, and so too is coaching. The term “coaching” was supposedly borrowed from the old stage coach that physically transported (moved) people from one place to another.

What makes this concept even interesting is that when you truly coach somebody, it’s as though the client is making a deal (selling) with themselves – doing something in exchange for a desired outcome. Some examples might be:

  • Actively looking for a new job so that you will be happier with your career
  • Exercising and dieting so you can lose weight
  • Learning and practicing new skills so that you can be a better leader

The intent here is to demystify the idea for coaches that selling is difficult or that some coaches argue that they are not comfortable “selling”. How about you think of coaching as a most effective form of selling? After all it’s about helping the potential client see what they want and the “movement” required to getting there. So just coach and without knowing it, you might be closing the deal or convincing that boss of a necessary change.

What a Good Coaching Program Teaches You

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studentMany individuals seeking to become professional coaches think that it’s a matter of learning new skills and tools and then applying them effectively with clients. There are countless programs out there that will prepare you for this and indeed there are no shortages of books written on the subject as well. However what most people overlook is that becoming a coach is more than just acquiring new skills and tools; it’s also about how YOU adapt to becoming a great coach.

What does this mean? Before you can become a great coach you need to embrace your own inner client. Very often, students of coaching programs enter training seeking a fine tuning process. They are looking for some additional tools and skills but it’s not until they experience the impact on themselves does the real learning take place. Coaching is not about the theory but about the emotions, the experiences and actions that come from it.

Let’s draw a clear distinction. Having this experience of the impact of coaching is very different to being experienced as a coach. To be a great coach you must go through this transformation for yourself and from this you will notice certain paradigm shifts that are specific to you. For example to be truly non judgmental you need to be non judgmental of yourself. Armed with this confidence and clarity you can much better handle all coaching situations and be at your best for clients.

So whatever you do, ensure that the program you select affords you the opportunity to apply the skills and tools to yourself. Feel, do and act what you learn and with this shift you will be on the road to becoming a great coach.

How Coaching Supports An Organization

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Coaching has emerged as a very dependable and effective methodology in the development of staff within organizations. Companies have long wondered how to make learning more sustainable and integrated. All too often a lot of money has been spent on sending people on various training programs, which very often contained great content; however the impact was never felt back in the company. Coaching, whether in tandem with or in support of training, provides the support and accountability to ensure that results emerge from learning.
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Six Tips to Choosing the Right Coaching School

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Coaching is fast emerging as a career of choice. By attending a good, recognized coaching school you develop the confidence and credibility to launch your own business. However in what can be an overwhelming experience, here are 6 key tips to consider in selecting the right school for you.

1. Program Structure:

Consider what meets your learning style. It’s important to select a program that is experiential and allows you to practice what you have learned.

2. Cost:

Costs can range from $2,000 to $9,000. The difference is the intensity and quality. In general, the higher the price, the better the training. But be sure to check out what is and is not included. Ask about discounts, payment plans and other financing options. Read more