In the interest of transparency we decided to show our fees online pretty much from day 1. Having worked with various coaches, marketeers, designers and so on over the years there is nothing more frustrating than being forced onto a call or worse zoom call to sit through a sales pitch and be told at the end it is X thousand pounds and you thought it was going to be £500.
This experience is even worse when the person is actually good at their job and you really want the product, Then comes the price and that deflating feeling where you just can’t afford nor justify the investment.
below are a few business coaching options you may consider when cho a business coach.
Working with a business coaching company v a standalone business coach.
When you’re working with a business coaching company such as Action Coach, of course you’re not working with Brad Sugars the CEO, well technically you can but his fees of 20k PER DAY are out of reach for most small businesses. You will be allocated one of the people who have purchased a franchise from Action Coach. This person you would hope will have numerous years of business ownership and ideally in an industry similar to yours. There are lots of benefits to working with a coaching company, the franchisee for example may have other coaches within Action Coach who he can lean on to get answers to your questions, they will also have instant access to lots of pre-made templates etc which could be edited to work for you and your business. An Action Coach will cost roughly between £1,200-£2,000 per month for fortnightly 1-1 calls. My own Action Coach was from Glasgow and cost me £1,350 per month For fortnightly coaching calls on zoom. It was a good investment.
Group Business Coaching
Group business coaching is a pretty good introduction to business coaching, it gets you in a room with X amount of other busimess owners likely all in the same boat as you, it would be very unlikely to be in a room with a guy who owns a £10m company and you’re at 500k. The coach would understand this and split the groups so most people are within reach of the person above them and so on. This works well as it gives you someone to chase essentially and in my experience in groups I was always chasing the next guy which made it fun. Group coaching alone will take a lot longer to find success as it’s generally one topic a week you will work towards meaning if you have already completed this topic or not at this stage you almost have to learn and store the information. Group Coaching alone can work though and a good group will cost you between £500-1600 per month, mastermind groups can be upwards of 10k. My particular group I was in was a landscaping group at this cost be £1,300 per month, Also a good investment.
1-1 Business Coaching
1-1 Business Coaching is the most expensive type of coaching, It’s normally done fortnightly or monthly via zoom or in person. It’s rarely in person these days since the pandemic and zoom is probably better for screen sharing purposes. With camera on or off you and your coach will normally begin with a brief catch up of what’s been happening within the business that period followed by a check-in to make sure all previous tasks set are completed. Once this section of the call is complete you will move on to the next part of the meeting which is what’s next. On your very first intro call you would have made a plan of what you want to achieve and set goals etc. this will lead the majority of your calls after check-in and tasks will be set each call for you to achieve with the guidance of your coach. Some but not all coaches allow calls and texts in between if stuck or requiring some guidance in between calls. A 1-1 coach will cost from £1,500 upwards to tens of thousands.
Our Business Coaching Packages – Tradecoach
Having been in business for over 10 years and been part of ALL of the above business coaching options I decided to create the 1-1 coaching and group coaching combined. This was a UK first and has been very successful but equally,very enjoyable. It gives my clients the personal 1-1 with just me (I don’t employ other coaches) which in my opinion they need, this option also brings them together as a group of friends who can chat monthly about there wins, losses, what’s worked and what hasn‘t In their respective trade businesses . I wanted to make business mentoring affordable to all so as it stands the price for this is £597 per month. As Tradecoach grows in stature and essentially I begin to run out of time it’s highly likely this option will have to increase significantly within the next 12 months but as it stands it’s currently £597 per month – £7,164 per year and me personally I like it this way. It allows me to help more people but not to many as it’s just me here and this must stay personal. My mac]ximum client intake for 1-1 is 20. Could I do 40? Yeah easily but I have a work/life balance too AND I enjoy being personable with my clients and knowing every part of their business. With too many clients this would falter and that’s not the dream nor the plan.
What you should never forget about working with a good business coach is he or she could/can literally make you £7,000 or even £20,000 in one session. My own trade business is proof of this.
Proof business coaching works.
I recall one particular zoom call within the first few months where my coach showed me a way to qualify my survey appointments better and explained and showed me a way to justify charging more. In the one hour conversation I shaved 14 hours of my working week and put my prices up 20%. With over £1million turnover this equated to circa 60k profit extra per year and around 700 hours of my time all in less than one hour…..Actually it was less than half an hour.
and that is the power of business coaching, I hope there’s enough information within this to choose the right business coach for you. There are lots of great coaches out there I promise you it won’t cost you a penny. In actual fact I think even if you chose the wrong coach he or she would still make you more money than you invest.
but to find out you need to take action and give it a try!
Take the step today and make contact and at very least open up a conversation with a business coach who can and highly likely will take you next level.