Some coaches try to
avoid having to deal with this issue by posting their fee schedule on their
website. By putting it out in the open it shows a level of transparency on the
part of the coach. No hidden fees and no
surprises.
Other coaches simply
blurt it out! They take a deep breath and hastily tell the client what their
fees are. Then they wait for that
awkward silence that precedes the client’s response. Sometimes the client says “Yes”,
but most of the time the client defers any commitment to some future date.
A date that may never
come!
The reason for all
this discomfort with coaching fees is very simple. The client’s perception of
coaching value does not match the coaches’ expectation of adequate remuneration
for the coaching services he/she will provide. But more importantly, the coach has not had a
chance to sufficiently communicate the value of the coaching services in the
time allotted for the Initial Coaching Session (ICS).
Whether the ICS is
free or provided for a nominal fee, there simply isn’t adequate time to
- outline the scope of the coaching program,
- determine its value to the client, and
- present the coaching fees in a professional manner.
For many coaches,
rejection becomes a self-fulfilling prophecy!
It always amazes me
that for a profession that is so reliant on service and goodwill, many coaches
still insist that the ICS is the “closer” to the coaching agreement! It’s where
the deal is done and the value and fees are determined!
Nothing could be
further from the truth!
The ICS call is not
meant to be a coaching session. It is not designed to “sell” your coaching
services! And it is not the time to discuss your coaching fees!
A ICS call only has
one purpose! Its sole function it to move the client to the next step in the
process of attracting a highly motivated and valuable coaching client. And what
is that next step?
The Coaching Proposal!
As soon as you finish
your ICS call, you must send your client a Coaching Proposal. Your Coaching Proposal consists of 5 parts that are all
designed to accomplish one thing: To confirm to the client that you are the coach
who can lead them to their Desired Outcome!
Each of the 5 elements of the Coaching Proposal adds a unique value and
authenticity to your ability to help the client achieve a Desired Outcome.
The first element gives
your client the outline for your coaching program. It answers the HOW question.
The second element
identifies the goals and objectives of your coaching program. It answers the WHAT question.
The third element sets
out the commitment that is required to achieve the Desired Outcome. It answers the WHY question.
The fourth element
determines the mutual accountability for coach and client. It answers the WHO question.
The fifth element
brings it all together. It answers the
HOW MUCH question. This is where you spell out your coaching fees, how they are
determined, how they are to be paid, etc.
With a properly
prepared and presented Coaching Proposal, your clients will see the value of you program and
the justification behind your fees.
And you will no longer
have to deal with any “fee anxiety”!
© 2014 Allan N. Mulholland, CPC
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