Client questions: How to get the best return on investment from business coaching services
Not only I am a business coach who offers business coaching services, have also been a client who has invested massively in these types of programs.
In this blog post I am sharing my experiences both as a client and a provider of business coaching services to help you make the most out of your investment in coaching and mentoring.
You can find a lot of free information on Google or Youtube about starting or growing a business, sign up for a digital course at a low price level, purchase books to learn more about strategies and solutions that can help you move forward. But sometimes information and knowledge is not enough for moving forward.
Successful leaders and CEOs often have executive and leadership coaches or business coaches on their side exactly for this reason.
Sometimes you need a safe space to brainstorm ideas, think creatively and strategically, find focus and clarity without distraction. A trained coach and experienced mentor can offer that space to you.
Business coaching programs are often focused on creating a specific transformation, they don’t only offer information.
And high quality business coaching services do not come at low price points.
It’s normal to evaluate how you can see results as soon as possible: Just like any other investment , you want to increase your ROI, return on investment.
Read more if this is something you keep thinking about!
How to increase your success rate as a client of business coaching services?
Things you need to know before investing in a program:
1) Choose the right structure for your budget and personal needs.
Business coaching services are offered in different formats : Group coaching programs, 1:1 private coaching or a hybrid of both.
New business owners often avoid investing in 1:1 business coaching services due to the higher price tag, but they are the ones that need this type of personalised support most.
1:1 private sessions are more expensive , but offer you a confidential space to explore your thoughts without the distraction of others.
Group coaching programs are often great for meeting other like minded people who share the same challenge as you. They are great for networking, but you can’t get the full attention of the coach the whole time.
It’s only you who knows how much support is enough for your stage of business, and how much are you willing to share about the backend of the business with the rest of the world.
2) Choose an accredited coach or an experienced mentor with real results
If you are looking for a deep transformation in your mindset and behaviour make sure you choose an ICF( international coaching federation) certified coach. Coaches who do not have the necessary experience and knowledge in psychology may cause you more damage.
In this day and age everyone can call themselves coaches , but certified coaches follow rigorous training standards in the coaching industry and know their boundaries.They are also obliged to follow industry standards in data protection, confidentiality and legal aspects.
When it comes to business mentors( those who offer you business advice), you want to make sure you work with someone who has actually achieved what you want to achieve and is not just talking theory.
3) Learn the difference between business coaching services , consulting and mentoring
I have explained this topic in detail in another blog post:
Things you need to know before hiring a business coach!
A coach gives you safe space for thinking. They ask questions and give you feedback.
Mentors and consultants give you advice and solutions. They share their experiences.
A mentor and consultant need to have the experience and knowledge to be able to give that advice. It’s easy to give advice based on theory, but business in practice is more complex. Ideally you want to work with someone who has achieved the results you want to achieve.
I do both : I am an ICF certified leadership coach and I have business experience in e-commerce, retail , fashion and of course running my own coaching & consulting services.
It’s argued that a coach does not need to have the experience in the field to be able to coach you.
I personally do not agree! In my opinion a business coach needs to embody what they coach about. They need to walk the talk.
I personally would never hire a coach who does not have business experience.
And I allow myself to be called a business coach because I have launched and grown businesses before becoming a coach.
But this is up to you! If you find someone inspiring that you can trust and they can offer you the space to think creatively and feel more confident, go for it!
4) Check the chemistry in initial conversations and discovery calls
Most coaches offer a connection call or a discovery session for this purpose. ( You can book one with me here)
When you have the initial conversion with them ask yourself these questions:
Do you actually like them as a person?
Do you like their lifestyle? Their personality? Their energy? Their communication style? Their ethics and values? Do you want to be like them one day?
Because if not, it might be difficult to commit yourself to meeting with them on a regular basis or trust them in sharing confidential information.
Some business coaches are great: they are experienced, certified and have achieved the success you look for in their life: but they may not be the right fit for you. You simply may not enjoy spending time with them and that is fine.
Pay attention to these subtle cues and make sure your gut feeling is right about this investment.Are you excited about this decision? it’s ok to be scared and excited at the same time!
Now that you have done your research, invested in the right business coaching service and you are in the right program:
Congratulations! Let’s see how you can make the most of this program.
1) Ask the right questions
If you can Google the answer or find it on the internet then probably it’s not the right question to bring to the coaching or mentoring session.
Remember your time in those sessions is precious. Focus on the real issues that are getting in the way of your success, real fears that are stopping you from expansion and bring those to the sessions.
2) Be efficient in communication
Specially when it comes to group coaching programs when you have 5-10 min on hot seats to explain your issue and get feedback, you probably can’t spend all that 10 mins telling a long story.
What’s the most important aspect of that story? Bring one topic at a time and focus on what matters to you most. What can move the needle forward?
3) You are in charge
You probably joined a business coaching program to become a leader and business owner. So become one now!
Don’t expect to be told what to do. No amount of accountability will work if you don’t show the willingness to get out of your comfort zone and take scary ( but inspired!) actions.
Don’t wait to be saved. Because no one will! Business coaching programs are often not designed for helpless victims : they are created for leaders.
4) Take responsibility for results
When you hire a coach or mentor, you are partnering with them in thinking. Either they give you the space to think for yourself or they offer you suggestions to move forward, but it’s up to you how to move forward. It’s you who is responsible for the results.
It’s you who has to make the big decisions. Hold yourself accountable and responsible for your actions, not the mentor or the coach.
5) Behave like the client you desire to have
Be the ideal client or customer you want to have one day.
If you are in a business coaching program, then you probably have a product or service to sell. You want to learn how to attract the right clients/ customers to your business.
What boundaries do you want them to respect?
How do you want them to show gratitude for your work?
How do you want them to behave? Then behave just like that!Likes attract like.
6) Accept that there is no guarantee for results
You will get your results in your own timing. Sometimes you have to experiment with a strategy , fail , then tweak it a few times and fail again and only after that see some results.
There are business coaching programs that promise you “six figure income” or “7 figure launches” or certain results. I personally do not find that type of marketing 100% ethical, especially if the client is less experienced in business. Your business success depends on many factors including your audience, your product, how you bring it to the audience and your environment.Business coaches and mentors can help you create solutions that are more likely to succeed, but no-one can guarantee a 100% success rate.
7) Be aware of the warning signs
Are you stuck with the same problem over and over?
Are you bringing the same issues to the sessions again and again?
Are you not making progress?
Then it’s a good time to reflect on what’s going on, if you can discuss it with your mentor/ coach. There might be an unaddressed issue that is getting in the way of your progress. And you can only deal with it if you become aware of it.
8) Adjust your expectations and be flexible.
There is no magic formula : You join a program, you learn new things about yourself and your business, you develop courage and confidence to experiment with new solutions, sometimes they work right away , sometimes they don’t.
Maybe if you are in a group program you see others doing so well, constantly sharing their wins and it seems everyone except you is creating great results: how does this comparison help you?
Some people have previous business experience and some people start with less experience. Some have the support or environment to create results quicker and some need to work more on their healing or creating a support network for themselves.
Have compassion on yourself if you are not moving as fast as you want.
9) Believe in yourself
This is an investment in you, and not in the coach or service. If you don’t believe in yourself, even the most expensive coach in the world cannot help you.
I have invested a lot in my personal and professional development. And I have made most of those investments when I wasn’t even sure I could afford those programs.
Maybe that was a blessing in disguise to push me towards getting results no matter what. Sometimes I did make a return on investment in a few weeks and sometimes longer.
On a few occasions I didn’t necessarily get results in the form of income, but I gained experience.
Everything you believe about yourself and your success is going to be your reality!
So believe more in yourself.
