Is Business Coaching Affordable?
Written by Tammy Durden
Business coaching has undeniably proven to help business owners in multiple ways. Then why do so many not immediately sign up? I would guess that It is because many small business owners, without checking into it, have deemed it too expensive. Would it surprise you to find that most coaches offer programs and even payment plans for their services? Many entrepreneurs today still ask, “Is business coaching affordable?”
It can be a really complex question. Why — because there are so many types of coaching today. There are lifestyle, health, business (of course), financial, marketing, and many more types of coaches. Some of these are also considered ‘business’ coaching as it may take it from a business point of view. For instance, you could get a financial coach to help you with your business finances, as it is more specialized.
There are also niche-specific business coaches. Some of these might be:
- Business Growth Coaching
- Scaling (by subcontracting or outsourcing)
- Startup Coaching
- Industry Specific Coaching — such as Freelance Coach, Virtual Assistant Coach, etc.
What Do Business Coaches Charge
The truth is that most business coaches charge between $150 to $350 per hour with some exclusive or influencer coaches costing upward of $400 or more. Therefore when we dive into this question it really is all relative. Relative to our desired outcome. Please consider your business goals before reaching out to a coach. This is a question I discuss with my clients all the time.
What Is Important In Business Coaching
You know it’s time to begin looking for a business coach but there are so many and it can be so confusing. Do not let these things stand in your way and block you from finding a good coach. We can easily get stuck in just the research and looking and never make it to working with a coach.
Things To Look For In A Business Coach
- Type of Coach — as we discussed, there are so many different types of coaches today. Many specialize in areas that are not as important to the business's needs.
- Clear Messaging — you should be able to understand their message and what type of service they offer. Do you feel that their message about how they can help you resonates?
- Services Are Offered — coaches offer all kinds of services today. Look for a coach who will be focused on helping YOU (not selling you other programs all the time). It is alright to go through their ‘program’ as long as they also offer options to continue with their help.
- Industry Focus — most coaches focus on specific industries. It may be small businesses, micro-businesses, freelancing, virtual assistant, or other industries. Make sure they have worked with similar businesses successfully.
- Specifics About Deliverables — they should discuss (& even present on the website) details about their business coaching and what they can deliver for you.
- Testimonials & Reviews — Yes, look at their testimonials and see what clients are saying, but also do a Google search to see if they have reviews on any other platforms. Type in the search box ‘reviews of <business name>’. This should show you reviews that are non-biased from platforms other than their website.
- Connection — most coaches have you set up an ‘introductory call’. When you speak with the prospective coach make sure you have a connection. You should feel comfortable and have the ability to share freely without judgment. You will need to be honest with your coach about your business and that is why the connection is important.
Look for the connection
“There is something to be said about chemistry in any relationship. It is important to connect with your coach in a natural way. After all, you likely will be sharing all of your professional wins and losses with this person, much like you would with a friend. But with coaching, it’s a fine line. You shouldn’t be choosing a coach like a friend or even a favored co-worker.”
Is It Time For You To Hire A Business Coach?
So, what do you think? Is it time for you to hire a business coach? How do you know when it is time? Let’s look at a few things to help you decide when it is time.
It is time to hire a business coach when you…
- Are making money?
- Want to grow but know you need help outside of yourself?
- Feel you keep hitting a wall in attracting clients?
- Know you are hitting a wall in revenue (you have gained but now are flatlined in growth)?
- Have trouble making your goals?
These are just a few of the signs that it is time to consider a business coach. You do not need to answer yes to all of these but if you are resonating with at least 1 to 2 of these please consider looking for a good coach.
Thank you for stopping by and reading our article. I know I say this often but must say it again — I APPRECIATE YOU!
Tammy, Business & Marketing Coach
[originally posted on Fearless Business Boss]