When it comes to coaching sessions, the average time frame is usually around an hour. This is because most people's attention spans cannot be maintained beyond this period of time, so the session makes the most of this period before the client is exhausted and their attention begins to wane. At the Coaching Institute Leadership Forum last month, I had the opportunity to meet the CEO of a company in Colorado that specializes in coaching. When it comes to pricing, many coaches use the general rule that group training should cost each individual 30% of individual training fees.
To determine how much you should charge for your services, consider how many hours of training and preparation your package includes and multiply that by your hourly price. Alternatively, you can borrow a pricing model from the oil and gas industry and “sell coaches to companies for a specified number of days or weeks a month”. This means that certified trainers have some upfront costs to ensure that they can provide their clients with the best quality service. I once trained a woman who was also a coach, had a best-selling book and was the keynote speaker for the 1000 companies on the Global 1000 list.
To ensure that I was providing her with the best quality service, I didn't want to rely solely on my life experiences and instead spent hundreds of hours researching new training strategies. When you hire a coach for one-on-one training sessions, know that for about an hour, that coach will be dedicated solely to your success. It is necessary to take into account your preferences and those of your coach, but in general there is a correlation between the structure and your behaviors as a coach and the results of the coaching. As an expert in coaching, I have developed a way of thinking about pricing that I would like to share with other coaches.
When setting prices for coaching sessions, it is important to consider how much time and effort you are putting into each session. For example, if you are providing one-on-one training sessions, you should factor in how much time you are spending researching new strategies and preparing for each session. Additionally, if you are providing group training sessions, you should consider how much time you are spending preparing materials for each group member. In addition to considering how much time you are spending on each session, it is also important to consider what type of results your clients are expecting from their coaching sessions.
For example, if your clients are expecting to see significant changes in their behavior or performance after just one session, then you should charge more than if they are expecting more gradual changes over multiple sessions. Finally, it is important to consider what type of value your clients are getting from their coaching sessions. If they are getting tangible results such as improved performance or increased confidence, then you should charge more than if they are simply getting emotional support or advice. To sum up, when setting prices for coaching sessions it is important to consider how much time and effort you are putting into each session, what type of results your clients are expecting from their coaching sessions, and what type of value they are getting from their coaching sessions.
By taking all these factors into account when setting prices for coaching sessions, you can ensure that you are charging fair prices that reflect the value of your services.