When it comes to hiring a business coach, the cost can vary greatly depending on the size of the company and the level of expertise of the coach. Smaller companies may pay a wider range of commissions than larger companies, which typically pay more for high-level executives. It's important to consider all of your options and ask questions when it's time to contact a business advisor. The Talent Development Association states that an executive coach “provides a safe, structured and reliable environment in which to offer support to the person.” When deciding on a coaching package, it's important to think about the value and amount of time you'll invest in the particular service you'll provide to your clients.
Many top coaches recommend contracts of six months or more in order to get the most out of their coaching services. For example, if you schedule three-hour sessions with a coach to brainstorm three new ways to attract new clients, you should also consider the cost of your business coaching and your coach's credentials. It's best to look for coaches that charge standard prices instead of trying to set prices based on your income. If two of the three new techniques you learned from your coach pay off and attract 125 new customers, then it was worth the investment.
The coach also helps the leader understand their current competencies, see how others perceive them, and focus on identifying and clarifying current goals, as well as appropriate action steps to achieve them. It is generally accepted that it is best to be trained by someone who has actually done what you plan to teach them to do.