There is chaos in the coaching industry.
The top 6 reasons for the chaos include 1) low barrier to entry by “coaches,” 2) low accountability for the coaching process, 3) unclear business agreements and ROI, 4) proliferation of “certification programs” (often by self-congratulating organizations and/or universities that respond to perceived market opportunities), 5) digital overwhelm, and 6) fear of action. (Although fear can be a motivator- for good use or evil- too often fear is an indication of chaos.)
My opinion is that the chaos in the coaching industry can be reduced.
So here is one small effort to reduce that chaos, using pricing and best practices:
1. Individual Coaching Services. Fees range from $3,000- 50,000 for 6 months. The average investment for organizational leaders in executive coaching is $25,000 for 6 months. The average investment for small business leaders in executive coaching is $6,000 for 6 months. Be wary of anyone who offers a term of engagement shorter than 6 months. Or an hourly rate. Or an “in-town reduction.” Be wary of anyone who charges additional fees for assessments, a sample intake, books, materials, excessive travel… Only select coaches who provide tremendous value and exceed that promise. Only select coaches who guarantee results for their services. Still confused? Then call us for details. Current clients can schedule your coaching sessions here.
2. Team Coaching Services. Fees range from $1,000 per person to $4,000 per person for 6 months. There is a trend toward providing coaching services that bundle clients together by team (e.g. the IT department in Houston) or by group (e.g. all district managers or all newly promoted supervisors.) Many coaches bundle these services for one reason– because the coaches then make more money. We all need to make money. However, that is not a compelling reason to bundle valuable services into a commoditized market such as “online team-coaching modules…” There is conflicting data on the value of these team coaching engagements for coaching clients. Yes, we can provide that data upon request. Yes, we LOVE to provide team coaching programs. Contact us for details or referrals.
3. Organizational Coaching Services. Fees range from $5,000- 30,000 per person for 6 months. There is massive value to any organization if they can be guaranteed access to pre-qualified coaches in New York as well as Mexico City and Paris, for instance. These service providers can provide breadth for any initiative in any geography, thereby increasing the likelihood of alignment and implementation. Some are disreputable. Most are very good networks. If interested in scale for a specific industry or business need, then you need to select an organizational coaching service provider. We have managed organizational coaching engagements since 2005. One of our partners is the largest global providers of executive coaching, with 1,000+ coaches in 45+ countries. We can provide solutions anywhere, Contact us for referrals.
4. Organizational Assessment Services. Fees range from $500- 28,000 per person. Assessments range from an individual validated tool such as the Hogan or DISC (there are now over 15,000 validated assessments) to multi-rater, multi modal assessments with high predictive validity. We can provide both. And we can provide virtually any individual or organizational assessment. At near-wholesale rates. Contact us for details or referrals.
Since 1997, we have seen tremendous changes in the business and leadership coaching services industry.
As a timely example, minutes ago I received a cold call from a “leader” in the sales coaching software industry. I quickly learned that he knew less about the industry than he should, and I excused myself from the call.
If you are interested in seeing coaching industry trend survey reports please contact us.
Now you have some pricing numbers and best practices. So what is your next step?
There is no reason to be fearful.
What are you waiting for? Call Doug Gray, PCC, at 615.905.1892 today.
Download this list of services and investment levels now: