How much should I pay for a business coach?

How much should I pay for a business coach?

With business coaches up and down the UK charging a wide range of prices, the only question you should consider is, "What will my return on investment be?"

Most business owners arrive at the point when they start to look for a business coach when they feel stuck in some way and unable to move forward. There is always a temptation to say, "I can't afford it.", but when a business can't move forward without a fresh pair of eyes and a different perspective, it's time to say, "Can I afford not to?"

If a business coach charges much less than their competitors, you need to ask why. It implies that the quality of the coaching is low; they are not proactive and certainly aren't confident about the service they offer. A low-cost business coach could cause more harm than good to your business by taking you in the wrong direction.

On the other hand, if a business coach charges a lot more than the market rate, you need to question whether they are over-promising or under-delivering. One of the best ways to answer this question is by reading about their background on their website, especially what their clients say about them in their testimonials.

To give you an idea of what a good quality business coach who can offer you an excellent return on investment charges, here's a link to my prices so you can see what I charge: pricing

Why hire a business coach?

Working with a business coach can be game-changing for your business and help you focus and improve your systems and processes and ultimately increase your profit margin. Many people understand the value of hiring a fitness coach but resist the idea of hiring a business coach when, in fact, it is exactly what they need to take their business to the next level.

A good business coach will be able to listen to you, identify your company's strengths and weaknesses, and help you feel more in control and optimistic about your business's prospects, by helping you resolve an issue you have been grappling with and pointing out opportunities to improve. Ultimately, it's about getting past a sticking point and moving forward by providing clear focus and strategies and acting as a hidden business partner.

What are the benefits of investing in a business coach?

There are many benefits of investing in a business coach who can challenge the way you think about your business and help you dispel any false and self-limiting beliefs that might be holding you back. A good business coach will help you create an action plan for success and establish manageable milestones to ensure you achieve tangible results over time.

It's best to consider working with a business coach as a journey, not a quick fix. A good business coach will take you out of your comfort zone and ask you to change how you look at your business, tweak your behaviour, and question your feelings about how you run your business to get the desired results.

Another benefit of working with a business coach is that if you have hired the right coach, they will have lots of years of experience running businesses and will be able to impart the knowledge they have gained and share their successes and failures over the years and those of other people that they have encountered while still maintaining client confidentiality.

The importance of being listened to

A good business coach will have excellent listening skills that they have perfected over many years and will pay attention to what you say you want to achieve. You are probably feeling stuck because you have been discussing your business problems with the wrong people, your partner, spouse, employee, friends, etc. Unfortunately, although all these people care about you, they are not in the best position to give impartial, sound business advice. There could be many reasons for this, such as they don't have any experience running a business, they are not very good at listening or they may feel uncomfortable telling you what you need to hear.

I received training in counselling and psychotherapy over five years, which helped me to perfect the art of listening, a skill I have been able to bring to my coaching career and guide people on how to overcome any obstacles they are facing to move their business forward or take it in a different direction. A business coach will not be held back by personal feelings or their own agenda and will be able to be honest, which means telling you what you need to hear to progress rather than what you want to hear.

How do you fund a business coach?

If you find a business coach that you want to hire after having researched their background to establish they have experience running a business, have read lots of positive testimonials from their clients and ensured that they offer a tailor-made approach to suit your business and not an off-the-shelf, templated solution, then the next step is to book a discovery call with them. The purpose of this call is to ensure they can listen to you and what you want to achieve for your business.

A good business coach will offer a free discovery call as it's just as important for them to determine that you are a good fit too, and are willing to follow their advice and change to make progress. If you come away from the call feeling that you weren't listened to, you shouldn't hire them or pay them anything. Conversely, if the call goes well, you should take a leap of faith and spend more rather than less. A good business will become self-funding over time and help you achieve a greater return on investment.

A business coach should represent the best money you have ever spent on yourself and your business, which is why you should view your business coach as an investment, not a liability.

About the author

Jason Cornes has accumulated nearly 40 years of entrepreneurship expertise, either owning a business or being self-employed since his teens, which means he has never had to get a ‘job’. Throughout these years, he has experienced the many ups and downs of running a business in various financial climates. He now shares his many mistakes and successes with clients so they can avoid mishaps and benefit from his triumphs. Jason’s experience has solid foundations, underpinned by relevant business qualifications, namely a Diploma in Management Studies (DMS) and a Masters in Business Administration (MBA) supplemented by five years of psychotherapy and counselling training.

Jason fully understands that feeling of not knowing how to progress your business. However, from surmounting several business trials over the years he is uniquely equipped to assist other entrepreneurs, from the self-employed to owners and directors of limited companies. His portfolio of clients includes Architects, Accountants and Tax Advisors, Web Designers, Solicitors, Doctors, IT Professionals, Teachers, Trainers and Consultants. He has been expertly providing his personalised, bespoke coaching and mentoring services in the business and executive sector since 2017 to upwards of 30 clients simultaneously.

"I have to say that it was some of the best money that I have invested in myself and my business, because he isn't just a great coach, he is also a superb mentor with years of experience behind him.”

Debbie Greenwood, Liaise Ltd & The People Motivator Ltd

Read what Jason’s clients say about working with him here: testimonials