Business coaching fees are nothing to sneeze at. On average they are greater than life coaching fees. As more businesses get their hands on investor capital and bank financing, fees will bump up rapidly.
How much you can charge depends on a number of factors, including the length of your coaching contract, your skill level as a coach, and the complexity and time necessary to produce smashing results for your client. I show you how you should set your business coaching fees below.
If you’re a new coach or you’re not yet certified, your fees may be lower, but you should be instead focused on getting more coaching experience and less on how much you get paid right now. As you gain more experience coaching business owners and entrepreneurs and grow your coaching practice, you will be able to easily increase your coaching fees.
Business coaching fees on average range from $100 per hour to $500 per hour for certified business coaches. That’s really nothing to sneeze at. Many doctors and attorneys don’t get that kind of money on an hourly basis after paying far more for their education than you pay to get certified as a business coach.
Now the fees for life coaches can range on average from $100 per hour to $300 per hour. On Google, I saw a number of business coaches who charged far more than $500 per hour for their coaching services.
Your Business Coaching Fees Will Be Based On The Value You Offer
.
The reason that your fees will be more hefty than life coaching fees is the expectation is business coaching will result in a bigger financial payoff for your clients. You may be attracted to the higher fees that business coaching commands, but you should realize that business owners and entrepreneurs can be more demanding than your life coaching clients. For example, A business client will expect to generate more income or close a particular deal. If your coaching doesn’t produce the outcome they expect, they will probably blame their failures on your business coaching whether it’s true or not.
Your pricing should really be based on the complexity of the coaching situation. For this reason, your fees should be greater than you would charge another client with a less complex coaching case because the more complicated client situation may need more of your time, expertise, and longer sessions to deal with her coaching challenges.
Business clients look at the following when they evaluate your business coaching fees:
* Real business experience
* Legal acumen and perspective
* Schedule flexibility
* Number of sessions per month
* Session length
* Email access
* Emergency access
If business coaching supports your client’s business or career, then your coaching fees may be tax deductible. Have your client check out the tax benefits of your coaching fees with a tax professional.
Compare Coaching Fees
.
You need to find out what other business coaches command in your market, then set your business coaching fees. The above list is a good list to use when comparing your fees against your competition. You want to be clear about how you differ in each of the areas above so you can highlight the benefits of choosing your coaching services.
Don’t be surprised if you discover that some business coaches don’t list their fees on their websites or marketing brochures. As I mentioned earlier, complexity of the coaching relationship is a big factor in what you’ll charge your clients. Many smart coaches quote you their coaching fees once they have a chance to evaluate your coaching need.
As I searched on Google, I saw that some big name business coaches market the fact that they list their prices on their websites and they say that other coaches are hiding something from you because they don’t list prices publically. Now you have a better understanding why some coaches choose not to list their prices. They do this to make sure they don’t get in over their head and earn less than they should in more challenging coaching situations.
Avoid competing on price whenever possible. Offering your clients a flexible schedule may be more important to them than your monthly fees. The way you support your clients between coaching sessions can be another valuable option in how they view your coaching fees against your competition. Knowing they can depend on you to answer their email or be available for them in an emergency situation, may be the thing that gets them to choose you despite your business coaching fees.
Special Bonus – Learn 32 ‘Guru’ Transformation Techniques when you fill in the form at the top right and click the “Watch The Videos Now” button. You’ll learn how to become a life coach in 30 days.
Donald R. Hunter, MBA, Certified Financial Planner
JTS Certified Accountability Coach
Loading ...
"business coaching fees" – Google News
