Busting myths and dropping truths about online coaches
Some of you will have worked with coaches before, and you will know what they normally charge, and how it all works. For others, this is all new. Today I am sharing a bit of advice on choosing a business coach, and how much money you should expect to pay.
First truth bomb: no matter how much you pay for a business coach, at the end of the day you will have to put in the work yourself.
No easy way out.
A business coach will not miraculously bring your clients.
They will advise you, guide you, reflect and give you feedback, but the job of a coach is to bring out the best in you, and coach you while you are doing the work.
A good coach can be amazing in steering you in the right direction, helping you get to your goal faster, and completely transform your mindset and level of confidence.
They can literally change your life. Some of the coaches I have worked with, have transformed the way I look at life, taught me valuable insights, and helped me become the person I am today. It can really be the biggest gift you give yourself.
But how do you know a coach is the right one? What to look for when choosing a business coach.
My advice? Select a business coach based on their energy and the connection you feel to them. Not because they claim they earn 6 or 7 figures a year.
Another myth busted: their own income says nothing about whether they are a good coach. It also says nothing about whether they ‘get’ you as a creative business owner. Not every business coach can help you with your needs.
Their income says a lot about their ability to conduct sales calls.
Sure, perhaps their systems will get you to 6 figures too, but decide if that is what drives you. If you just want a lot of money, then by all means, hire this like-minded coach. But if you want a sustainable, healthy and wholesome business based on your true values, then look elsewhere.
There are so many self-proclaimed coaches online who charge extortionate amounts of money for their services. Sometimes, all they have is a couple of testimonials and some story about how they overcame their struggles and now can teach you to do the same. Just be aware!
I am being a little cynical here, but I know that many people get talked into coaching programs they don’t need. They spend thousands of dollars on something that is not aligned with who they really are. Put your BS radar on when booking a call with someone, and trust your intuition!
Questions you should ask yourself when choosing a business coach:
- What do you like about this coach? Do they share your values?
- Why do you watch their content?
- Do they have the right expertise?
- Are they credible?
- How long have they been doing this?
- What results do their clients get? (you could even message these clients to ‘fact-check’ if these testimonials are genuine, and hear it from the horse’s mouth!)
Also, take your time deciding if you want to work with a coach. You’ll be stuck with them for a while, so it has to feel right.
How much does a (business) coach charge?
You’ll be asked to invest 4 figures (and sometimes even 5 figures) for a 1:1 program. It won’t be any lower that $3000-5000 for six months, and in my experience, it is often way more than that. Many coaches charge up to $10k for six months 1:1. (My prices are stated on the intake form when people book a free call, to take away any surprises).
The investment can vary hugely per coach. Remember this says very little about how good they are at what they do.
However, the main reason for coaches to charge thousands, is because they have limited availability to work with clients 1:1. You are a VIP!
You are not going to a classroom of 30 with a teacher teaching the same thing to all of the students. Hiring your own personal mentor for up to six months, who offers tailor-made advice to you, is special. I know I care more about my clients’ results than anyone else.
That costs money.
They will be supporting you not just through weekly video calls but often also in between calls, via email or messenger.
You will get their dedicated time and personalised support for all of those months together. It is the transformation in yourself and your business that you are paying for. So take all of this into account when you make a decision. What is it all worth to you?
Whatever you decide, make sure that you feel completely comfortable and confident about the investment.
Don’t feel you have to make a decision on a first call with a coach. Find out what kind of investment to expect, so you can decide whether you want to book the call.
If you know that you are not going to be able to hire a coach, don’t book the call.
Focus on other things that you can afford at this very moment, such as a group program, or a one-off session. Or binge on the free content your favourite coach is sharing online.
But if you are ready, and you’re excited about choosing a business coach, then go and shop around. Book calls with different coaches to compare their offers and prices, and do your research.
One bit of advice: investing in yourself at this level is absolutely worth it, but don’t EVER let a pushy coach make you feel you’re missing out if you’re not saying yes to them on a sales call. It is YOUR decision, and YOUR money.
What to prepare when choosing a business coach
If you feel ready to make a lasting change in your life and business, then hiring a coach is an excellent idea. You are committed to put in the work, you feel happy about the investment, and you can dedicate your time.
But it has to feel in balance, and not put you into poverty before you even begin.
Some people have plenty of savings in their bank account to pay for it (great!), others can borrow some money from family (amazing!).
But most people find that the first few months of working with a coach, a lot of their earnings will go straight into the coach’s bank account. Ouch.
Trust me, I’ve been there, and it can give you anxiety, especially when your clients aren’t exactly queuing out the door yet.
I have been in exactly that position, where I paid $1200 each month to a coach for six months. This was about 70% of my income at the time. It was uncomfortable, but it did make me work very hard.
Staying financially in control
I am happy to say, that I do not regret investing that amount, and I would do it again.
My business coach was incredible, and helped me not only as a business person, but also as a human being. I feel good about having worked with her.
We had a great click, and I loved every call we had together. I have grown and learnt so much about myself.
But if you don’t want to feel poor each time you make a payment to your coach, then go and plan for this kind of investment, like you would for any other big expense, and put yourself in a more empowered position.
Start saving, put aside money for this purpose, and feel in control of your finances.
Even better, pay in full. That way you can relax and go full in and every month’s income from then on is yours!
It will make you feel great that you are financing your own personal and professional development. And you will feel even better once you are seeing the fruits of your labor. Plus, of course, the results of working with an incredible coach, who will change your life and business forever.