How Much Does Business Coaching Cost?
By Craig Lourens.
It’s probably is the wrong question to be asking, even though this is the question nearly every business owner asks me, “Craig, what does business coaching cost?” I expect to be asked such a question, in fact, if I were on the other side of the table, I’d ask exactly the same thing. However, after coaching business owners for many years, I’m now seeing that there’s a much better question.
“What is it already costing you not to have coaching?” Most business owners know what they pay for rent, salaries and vehicles. They know what they’re paying for a new laptop or another employee’s salary. Very few people know what it costs to remain stuck.
The Costs Nobody Sees.
Imagine a business owner who works twelve-hour days, six days a week. They’re wearing many hats in the business having become the sales manager, operations manager, HR manager, debt collector and chief firefighter. They go about solving every problem because they think its it’s quicker than teaching someone else.
Sound familiar? Now ask yourself… What is that really costing them? Not just financially. What is it costing their family? Their health? Their opportunities? Their ability to grow the business? These costs don’t arrive as an invoice at the end of the month. They are the hidden costs. The ones we don’t see on our income and expense analysis. These are the costs which hold us back from achieving our potential. They steal profit, time and energy every single day and we accept them “just part of running a business.” They are not.
How much does coaching actually cost?
This is the question to examine, let’s answer it. The investment is based on where you are at this stage of your business and what you need and what you still have to do.
Some business owners join one of our 12-week group programmes in which you do a combination of business coaching, training, whether that be in Leadership, Management, Sales, Marketing or Business Mastery. Others prefer individual coaching because their own business has become more complex. They want someone to sit alongside them, to help them make better decisions, build better systems and to put together a leadership team that can take the business forward.
The monthly investment ranges between R1 500 for entry-level programmes to R50 000 for larger businesses and corporate organisations. No coaching is expensive. It’s because every business is different. A start-up needs something very different from a company that employs fifty people or more. That’s why, before we agree on anything, we really spend some time to get to know your business and your goals and what you want to get to before we even start to talk about what you will pay. Then we find what makes sense and land where it’s best for you. No surprises. No pressure. Just the right answer.
The biggest expense isn’t coaching. So often I hear: “I’ll get coaching when I can afford it.” I would like to turn that sentence around. Can you afford not to? You see time does not wait for you!
- I’ve worked with owners who postponed raising their prices for years because they were not confident or did not understand the impact of not increasing their prices.
- I have witnessed businesses lose good people because they didn’t have the leadership skills to keep them engaged.
- I have seen owners who spent every weekend catching up on work that shouldn’t have come to their desk in the first place.
They were all struggling because there were no systems, no leadership or no clarity. And the longer they waited, the more they paid for it.
Coaching Isn’t Advice.
Some people think coaching is paying someone to tell them what to do. Good coaching is nothing like that. It’s about teaching you to think differently. Helping you see what you’ve stopped seeing. I help you to build a business that doesn’t depend on you making every decision in every moment. In my opinion, the businesses that grow consistently aren’t run by people who work the hardest. They’re run by people who are always becoming better leaders. That’s how coaching happens.
Will You Get a Return?
That’s a guarantee; in fact I have a 7 point guarantee, but there is one condition. You have to do the work. Coaching isn’t something that happens to you. It’s something you do. You’re going to have to be ready to challenge old habits, have uncomfortable conversations, make decisions that you’ve been trying to avoid and remain disciplined long after the excitement of the first session is gone. The business changes because you change. And the real return comes from that.
My Advice.
When you’re considering coaching, you’re not looking for the cheapest option. You look for the kind of things that really do make your business go forward.
- Sometimes that’s a group coaching option, learning with other business owners who are facing the same struggles you are.
- Some other times it’s individual coaching where you can go at the pace you prefer.
- Sometimes it’s a one-to-one coaching in everyday life.
- Sometimes it’s just having an honest conversation about what your business actually needs.
- Always its customised to suit your need.
The right solution will be determined by us, with you, for you, and whatever the investment, you can expect a healthy ROI.
One Final Thought.
One of my favourite sayings is this:
“Every system is perfectly designed to produce the results it currently gets.”
If you’re happy with your results, continue doing what you’re doing. But if you’re working harder than ever, under too much stress and wondering why the business is still not giving you the freedom you were hoping for… perhaps the question isn’t “How much does coaching cost?” Perhaps it’s…”What is staying exactly where I am already costing me?”
That question has changed the direction of many businesses. It might shift yours too. How could coaching be beneficial to your business? I would be happy to have a no-obligation conversation about where you are, where you want to go and the best solution you have to come up with.
Craig Lourens.
Business Coach, ActionCOACH.
079 388 5709