There are different markets and different customers. The packages and prices of my training programs are based on the specific market range for my ideal client and the value I add to the quality service they expect. Someone who seeks to change or accelerate their professional career is a different model than high-level executive coaching. If I am advising someone, I provide advice and recommendations based on my client's situation.
Some coaches may resist, but many will be transparent, and then you'll have a general idea of what's reasonable and expected. Following the pricing model of the oil and gas industry, “it sells coaches to companies for a certain number of days or weeks per month. Although I have no data to prove it, I am sure that 70% of coaches who identify themselves as leadership, executive, business or professional advisors make considerably more money than 30% of coaches who identify as life, vision, health, wellness or spirituality coaches. In other words, most professional coaches are doing something besides working with clients on individual coaching sessions.
About 4 years ago, taking a song from the Vistage hymnal, I switched to a membership model for my training. My sincere intention is to help as many coaches as possible to value themselves properly, to earn a living as coaches and to make better use of the value they create for others. If you want to offer the highest level of experience and the results that high-level coaching clients are looking for, you'll need a package that's up to the task. At this point, you've worked with more clients, your brand is consolidated, you have testimonials that show that you're a great coach, and you're constantly receiving sales inquiries.
And it's called that because the idea is to “penetrate the market by offering the lowest coaching rate you're comfortable working with”. You can set a price that seems fairer to you depending on the sector you are in, and that is more in line with what other coaches in your sector charge. But here's the thing about high-end coaching: it's on a completely different level, compared to low-end packages. Many life advisors spend 40% of their time on marketing activities, 20% on business and administrative tasks, and 20% on client sessions.
There is a direct (and perhaps obvious) correlation between what a coach charges per hour and what it earns annually.
