October 17, 2023
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When searching for your ideal business coach, you must look in the right places. Most business coaches can be found through the likes of local networking and online search engines. Chambers of commerce meetings are a great place to start as you can gather first-hand, personal experiences about many business coaches from like-minded business owners. Another great way is through word of mouth and referrals.
Be wary when it comes to Googling for the worlds best businesses coaches, though. Unfortunately, thanks to the likes of the internet, anyone can claim that they are a business coach without proving any kind of legitimacy. Because of this, Robin recommends that you invest in a business coach who has at least earned their ILM (Leadership and Management) or ICF (International Coach Federation) qualifications. However, just because a coach has obtained these accreditations doesn’t mean they are the best at what they do. The results speak for themselves, be sure to look at reviews, ratings, case studies and recommendations wherever possible.
This is especially relevant for those looking to invest in coaches with specialisms in mindset, body and health-related coaching. Coaches with these niches need to have the most relevant and legitimate qualifications as they’d be directly impacting your personal health. For example, Fearless Businesses Mindset Coach, Kate Hunter, has Animas Coaching Qualification ensuring that she’s more than qualified to host weekly mindset calls with clients and help mentor Fearless staff and crew.
The Animas Coaching Qualification is a training course that is fully accredited by the world’s leading coaching bodies, the International Coach Federation, the European Mentoring & Coaching Council, and the Association for Coaching.
Ultimately, the perfect coach should always put their clients first before the money. At least, that’s how Robin sees it anyway. If a client approaches him interested in his services but doesn’t necessarily deem them a good fit, he will refer them to someone more suited within his coaching network. Coaches shoot themselves in the foot when they take on clients that aren’t suited to their services. This is because it directly impacts a coaches results. Of course, there will be coaches that take on clients regardless but a real coach who’s passionate about what they do CARE about the client first. At the day, it’s not just the clients who are investing in the coach. The investment is reciprocated. If a client does not get to grips with what the coach provides for them, the coach is also wasting their time, effort and money.
The price of business coaching is entirely dependent on the type of coach you invest in and their style. The average business coaching costs are:
Refresher: Group coaching is when a coach mentors multiple clients simultaneously. It allows you to network with like-minded individuals and can offer a range of perspectives for your business. It’s ideal for companies or start-ups looking to get coaching services for small teams.
The price of one to one coaching is entirely dependent on a client’s requirements and the amount of time they are willing to invest in a coach. In addition, one to one coaching enables the coach to be a lot more thorough with their clients.
These days, most business coaches offer a free taster. For example, Robin offers a free 30-minute diagnostic call. This allows both coach and client to see if their working relationship has any potential and if their business is the best fit for the services the coach provides. Unfortunately, as mentioned in ‘Where to Find Business Coaches,’ the coaching industry is oversaturated with individuals falsely claiming that they are qualified coaches.
If money is an issue, be sure to ask whether the coach you are interested in has a payment plan. Paying in instalments is the more common method of paying for a coaching service, although some clients like to pay the total cost upfront.
However, if you view business coaching as a cost to your business rather than a worthwhile investment, then it isn’t the right avenue for you. If you invest in the right business coach, the money you will invest will eventually be made back.
Robin claims that business coaching is like any service you pay for. If you go for the cheaper option, you won’t reap as many benefits and vice versa. This is also why he recommends clients invest in a “results-based” pricing outcome rather than a time-based one. Charging hourly or monthly increases the possibility of time-wasting, which can cost you more money. Results based are the best foot forward as you can pay depending on the outcomes you received.
If you’d like to know more about how much business coaching costs and what goes into it, check out the video below:
The cost depends on the format. Group coaching is more affordable, usually ranging from £90 to £800 per month. For dedicated, personalised support, one-to-one coaching typically costs between £1,000 and £3,000+ per month.
Look for accreditations from respected bodies like the ILM (Leadership and Management) or ICF (International Coach Federation). While these are important, you should also prioritise their track record, including client testimonials, case studies, and reviews.
Your best options are often local networking events and Chambers of Commerce meetings, where you can get personal recommendations. Referrals from other business owners you trust are also a great source. Be more critical when searching online.
You should always see it as an investment. If you choose the right coach, the guidance and strategies you receive should help you grow your business and generate a positive return that far exceeds the initial expense.
Time-based pricing means you pay by the hour or month, which can sometimes lead to wasted time. Results-based pricing links the fee to specific outcomes and achievements, ensuring you are paying for tangible progress in your business.
