Is business coaching expensive? It’s a question that I get asked and, actually, one of the areas that usually my clients are pleasantly surprised by. Although, in all honesty, I am a pretty long way from being a normal business coach. However, the definition of expensive different from person to person, but there are other factors too. Firstly, it depends on who you get your business coaching from, secondly it depends on your view of expensive and, thirdly, it depends on how you see real value.
How much is business coaching?
I know – an expected answer for a business coach. That hasn’t addressed whether business coaching is expensive or not! But let me tell you right now that, today, in June 2017, I charge £100 per session. Most people have a session every month, or every other month, and that cost includes an hour (ish) on Skype, Facetime or the phone, follow up notes, and being around on email/chat between sessions, and you can see that I have no skin in this game. I’ve told you my costs. And whether you think that’s expensive or not is completely your call.
But am I typical? No. I’m not. I’ve done quite a bit of research on this. Some people charge less than I do, some charge more, and some charge a LOT more. And when I say a lot, I really mean a lot. Am I having a go at them for this? No. Not even a bit. I’m comfortable with what I charge (I’m not saying it won’t go up in the future, but I’m writing about the now), I want to work with people long term and be part of their team. I love the process and the progression. I get a real kick out of it all. The people who tend to charge a lot more tend to do so for a short period of time, say an intensive course for a few months – it’s a different offer.
What is expensive?
So, what’s expensive? Everyone’s interpretation of expensive is different. And more often than not, it’s connected to the value and what they get back. If something costs you £1 but it’s rubbish, it’s expensive. If something costs you £10k but it’s amazing, life changing, you adore it, use it all the time, etc. etc…. it’s probably cheap. Not the best examples, but you see what I mean.
And there’s another edge to ‘expensive’ the return on investment (ROI). You put in £1, you get 50p back – not good. You put in £1000 and you can use what you’ve learnt to earn over and above that? The £1000 is cheap.
So, what do you think? Have you worked with a business coach? Did you think business coaching was expensive (and it doesn’t matter what you actually paid, let’s think of ROI here)? I’d love to hear your comments.