I’m feeling a bit discouraged about the habit change coaching pilot program today. On the one hand, the seven coaches have accomplished a tremendous amount in these first three weeks:
- selected a coaching business name and domain name
- got website hosting
- obtained a business address
- ordered business cards
- got a professional photo taken
- wrote 5 pages of content for website, based on writing templates I provided
- developed answers to the eight most common marketing questions that a coach encounters
- joined their local Chamber of Commerce
- made a master list of local places to promote their services
And my Virtual Assistant and I completed some major technical things for each coach as well:
- set up an auto-responder account
- wrote free report to give away on each coach’s website, plus two follow-up autoresponder messages
- set up websites and blogs (see an example here)
Later this month the coaches will receive the participant workbook and facilitator’s manual for the six week group coaching program. I’ll be training and mentoring the coaches and how to market and deliver the group coaching.
That’s a lot of progress in one month for coaches who have been trying to get their coaching business going for years.
So why am I feeling discouraged?
To get these coaches to this point I’ve done a lot of hand-holding. As I mentioned in a previous post, I have no problem with this. For one thing, I think it’s absolutely necessary for new business owners to have someone to ask these questions of. It’s precisely the lack of this type of support that causes many coaches to abandon their dream of having a successful coaching practice.
In addition, it’s useful for me to experience first-hand the types of questions and difficulties the coaches run into. That way, if I decide to proceed with the Readymade Coaching Business service, I will know what kind of support I need to set up .
But there’s the rub
The level of support required is time-consuming and therefore expensive.
Basically I am providing a “done for you” package that includes:
- mentor coaching
- business set-up consultation
- marketing consultation
- website design and implementation
- virtual assistant services
- curriculum development
- professional writing services
The question I have to ask myself is: will coaches recognize what they are getting and be willing/able to pay what it is going to cost?
What it typically costs to set up a coaching practice
Let’s take a step back and talk about what coaches normally pay to set up a coaching practice.
In my early years, I spent about $10,000 on coach training, website development, business cards, memberships, training, and mentoring.
If I take out the $4000 I spent on coach training, and just looked at what I spent on business development and mentoring, that’s still $6000.
Not to mention literally thousands of hours of self-study, learning how to set up and use automated services for my newsletter, auto-responder, shopping cart, teleconferencing, audio recording and editing, and much more.
So what makes me think that I can boil all this down into a $1200 or even $1800 package for coaches?
My original goal
My goal in starting the pilot program was to give coaches “everything they need to hit the ground running” as a habit change coach.
It’s becoming abundantly clear to me that this is a tall order.
I remember early on in this project, Julia Stewart commented on my blog that she was skeptical that I would be able to do this:
… as you well know, many coaches have an unrealistic expectation about what it will look like to have their own business and that’s one of the main causes of their lack of success.
And it’s not just the new coaches. Recently, a master coach told me that she’s tired of everything she has to do to get clients. I asked her what she was doing and she said, ‘Nothing!’ Some coaches seem to be looking for a coaching practice that is more like a job with a guaranteed paycheck (aka ‘clients’), but no boss!
At the time Julia’s comments only served to galvanize me. I thought “I know exactly how to do it – I’ll show her!”
Now I’m beginning to wonder
Julia has been in the coach training business as long as I have. Like me, she has mentored hundreds of new coaches. Over the years, she and I have talked a lot about the joys and challenges of helping coaches get going.
One of the observations we’ve often made is that not only do most coaches resist the business side of coaching, they also don’t budget for what it costs to set up a business. That’s the “unrealistic expectations” that Julia mentions above.
Maybe that’s why so many coaches complete their training but never get a business going.
But I’m getting ahead of myself
To put things in perspective, the pilot program coaches are making fantastic progress. That’s not in question. Whether they get clients within the next few months remains to be seen.
What’s troubling me is the cost. Can I provide coaches with “everything they need to hit the ground running” at a cost they are willing and able to pay?
Or do I need to take a hard look at what I’m offering, and downsize it to fit coach’s budgets?
What do you think? If the results from the pilot program prove my system works (i.e. each coach is moving confidently forward with a website, blog, autoresponder, business cards, a program to deliver, and paying clients by the end of the program), what do you think is the dollar value? And more to the point, do you think coaches will recognize the value and pay it?
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{ 10 comments… read them below or add one }
As a pilot program participant so far I think it is wonderful. I am enjoying the step by step by step process.
My suggestion to make the non-pilot program affordable is to break it up into well defined modules and make them pick and choose. Give information on who could use or need each module in a detailed way in the marketing info. And as Jackie suggested on the call, you could even make it into a questionnaire for each module to let people know what it included in detail in each module and who would need it or not need it.
I feel both (complete package & a la carte) as viable options. I think some folks might take to the business side smoother by choosing the a la carte options (earn the cash b4 paying for the next step). The complete package work a different magic.
$1800 isn’t much for what you are offering as a complete package considering the time you are saving them in return. You could charge more just on this point alone.
& we both know that a great set up doesn’t mean clients come flying through the door. I see your offering as a confidence booster with the bricks & mortar thrown in. Once they are set up, it’s still up to them to fly.
Fascinated to know about your doubts.
I am loving the course. It is marvellous to be told what and how to do everything step by step and at a pace that suits me. Your speed of replies is amazing and very much appreciated, especially with such a huge time difference – do you ever go to sleep?!
Already I’ve learnt how to put a photo on the business card, how to look at my life and pick out experiences that I can share about my background re the university of life, rather than academically e.g. living in the jungle for a couple of years has allowed me to become nonjudgmental – clients have commented on how much they appreciate this aspect of my personality.
Networking has always been daunting for me, however, with your excellent suggestion to join the Chamber of Commerce, I shall be attending an event on how to network and who to target etc. There is also a speed networking event which sounds just my style, so now I’m looking forward with excitement instead of terror!
I enjoyed a wonderful opportunity last week. After you sent out my notes for the first half of the call, Edna emailed to thank me and so we have started to correspond. It is great to have a buddy, especially as we have different strengths.
Getting the first website up and running is exciting. It was really interesting to peruse the habit website you suggested. I have been doing a fair amount of reading and come across REBT – Rational Emotive Behaviour Therapy. It ties in well with habit change.
Very much looking forward to this afternoon.
Best
Jacqui
The habits we are trying to change in ourselves include how we think about and handle financial matters.
The coach’s budget changes as the clients hire the coach.
The ‘missing link’ you are providing, Barbra, is showing us how to get clients by using the most efficient tools you know of that work for coaches because you, as a mentor coach, are constantly upgrading your knowledge by using these tools yourself.
With the software and technology that are available today, combined with the knowledge, experience, dedication and passion you bring to this project, you will meet the challenge you set for yourself with this pilot.
Remember, not only does technology change rapidly, so does the current economy. The other thing that can change quickly is your own thoughts and feelings about it.
As the others in your classes tell me, and I affirm, “You CAN do this, Barbra.”
Barbra – I love your ‘I’ll show her!’ attitude. And I’m secretly rooting for you to succeed. If you can help coaches settle the questions, skills, & tasks that go into getting a coaching business off and running, that’ll be a huge service to them and to their clients. (And I’ll happily recommend your program to my students!)
I agree that it takes about $10,000/yr to launch a successful coaching business. Of course, coaching pays extremely well, so any coach who balks at that investment is not thinking like a business person. My first financial goals with coaching were to simply pay myself back.
I like Cheryl’s modular idea, but unless you can put this program on a mass-production conveyor belt, I don’t think you’ll be happy charging $1800 for the whole thing. And mass production goes against the very nature of a unique one-to-one customized service, like coaching.
In the end, you need to charge enough to make it worth your while, otherwise serving too many coaches for too little money will just be an energy drain.
Barbara, I’ve recently become interested in the role that habits play in our lives. I missed your initial training program, but I wish you success with this one. A lot of our behavior is habitual so I was dee-lighted to find your program which focuses on habits. Nonetheless, you definitely have to do what is right and humanly possible for you. I wish you luck with this program or a revised version of it.
Wow-the 2 sites I’ve seen up so far are great! They are professional and clear on who they target and how they can help. Maybe you should pay some of your Pilot Program coaches to be the hand holders and support for the next go round or offer them some coaching to provide that service.
I say go modular and offer a better deal on the whole package. People will pay more to get ‘er done lock, stock & barrel.
Thank you everyone for your helpful and supportive comments. I started writing a reply here and then it got so long that I decided to post it as an article. You can read it here .
Going with the modular theme – how about :
* having an extensive FAQ for each module – only give the questions and if prospective participants can answer all of the questions correctly, then they are exempt from the model. If this could be set up automatically, the test can be done as often as the individual would like until they answer all questions correctly.
If automation is not possible, then perhaps use other people to mark the tests. Give them a retainer so that you keep your costs under control. If someone fails and wants to take the test again, then there would be a small fee for the person doing the marking. This will also produce a few nuggets of gold from time to time as the person marking learns something new and can pass it on to others taking the module.
The cost – as you rightly say, many prospective candidates have absolutely no idea of the cost because they do not know what the big picture entails. By spelling out all the different aspects of a successful coaching business with the various rough guide to costs will help prospective participants to see what value they will be receiving. If someone is not prepared to invest in their future success, are they prepared to give what it takes to succeed if they take the course? Coaching could be available to help people overcome the scarcity mentality and be open to abundance!
Another aspect participants may not be aware of consciously are their fears. Perhaps they think that by being spoon fed, they will not have to take action in all departments. Habit change coaching is wonderful for facing and overcoming the fears involved in setting up and succeeding as a coach.
* the FAQ with answers will be given to each individual who has paid for the module. As this becomes more comprehensive, so email queries will decline. This could be handled by someone else on a retainer.
Great suggestions Jacqui – thank you! The module approach does seem to have advantages.