At the end of the year, every year so far, I spent all the money that I had earned through coaching.
My clients, however, often reap the benefits for years, decades even, the rest of their life perhaps.
The value that a powerful coaching relationship offers is enormous. And when I think about what we’re asking in exchange, it often stands no comparison, almost regardless of how high the fee is, or how high it feels at the time of pitching it.
I’ve carried this insight with me for some time. And it really helped me to move beyond charging relatively low fees by the hour. But last week, sharing these insights with a coach in Rocket Supervision had a huge impact, so I decided to share them with you here.
As I’m adding the new content below, I’m also reminded of an episode of Talking about Coaching in which we asked the question: Is any coach worth $5000 per session? (also, goddamn do we look much younger pre-pandemic!)
Anyway, not sure who needed to hear this right now, but I concluded that our clients always draw the longer end of the stick, even if we were to put our prices up considerably.
With a strong value of fairness instilled in me by my mother, it pains me to see coaches struggle with charging a fair rate for the often immense value they add to their clients’ lives and careers.
So if you’re a coach and you’re concerned about being perceived as expensive, my invitation to you is:
Give this Nugget a moment of reflection, maybe do the maths on how much you’ve invested in becoming a coach so far, give some deep thought to the kind of value that your clients walk away with after a successful coaching relationship, and perhaps have a look at this blog post I wrote ages ago.
I know that critically reflecting on these considerations has helped a lot of coaches own the value they so clearly provide, and I hope it can help you, or perhaps a colleague of yours, too.
New content : Does niching kill diversity in your client base?
Episode 55 of Talking about Coaching was a pretty thought-provoking discussion, which followed from an earlier Coaching Uncaged episode with the director of the Coaching Diversity Institute, Dr Towanna Burrous. Apologies for the occasional connection issues, but we felt it was more important to get this out there than to have a clean recording, so we decided to publish anyway. So bear with us as the beginning is a little bumpy. Find the episode on YouTube and all major podcasting platforms.
That’s it for this week! If any of this resonates, make it swing! I’d love to hear from you 🙂