Business Coaching Packages to Grow the Right Way
What Are Business Coaching Packages?
Selecting the right business coaching option for you can feel daunting. Like many other business offerings, it’s hard to get past all of the claims of uber-productivity and growth-hacking and onto the ground level of what a coaching service actually provides.
And then there’s the question of specialization.
Do you look for an insider who knows your industry top to bottom or someone with a high-level approach to give you that outsider’s perspective you’ve always needed? It’s easy to see how the hunt to find the best business coaching package can feel overwhelming. But it doesn’t have to be.
There are tangible ways to select the right business coaching package for your company’s needs. Whether that’s a corporate coach to train up more leaders or an executive coach to help you find holistic balance— it’s really a matter of clarifying your intent for seeking out a consultant.
Tangible Ways Business Coaching Delivers ROI
The best way to understand business coaching metrics is to focus on the type of consultancy you are seeking. For example, if you’re looking for a lifestyle coaching firm, your metrics may look like personal goals including fitness achievements, an improvement in relationships, or a reduction in stress. Corporate contexts may deliver quantitative rather than qualitative improvements, like achieving a specific multiple in a sale or increasing headcount or revenue.
For the purposes of delivering ROI, coaching can and will help you get clear in several areas:
Business systems/ operations—Introducing changes to infrastructure, adding headcount, training managers to take over more responsibility, cutting on overspending, increasing departmental focus and feedback loops.
Revenue/ valuation—Achieving your definition of financial success. This can look like increased revenue growth, initiating a focused scaling strategy, or achieving a profitable sale or hand-off of the business.
Employee retention/work culture—Adding tangible benefits to work cultures starts with empowering leaders with better listening skills, feedback loops, and employee engagement solutions for the workplace. Coaching helps leaders encourage ownership and gives employees a greater sense of agency.
Leadership/vision—Helping leaders identify and work toward retirement goals, a succession plan, promoting leaders from within, or outlining a future direction for the company.
Startup Coaching or Packages for Established Companies
Startups experience a highly fluctuating early phase when team members are wearing several hats, working to meet crucial deadlines, and racing to secure future funding. Startup coaches have a specialty in being responsive and highly engaging in this crucial early phase. The needs of a startup founder are similar to that of a small business owner. Concrete steps and action plans are necessary to help the owner reach a threshold of sustainability. It’s important for startups to lean heavily on references to ensure the coach is the right fit for this fast-paced season of business. The level of volatility in a startup is high and accessibility to the coach for more frequent check-ins may be a crucial client need.
Established companies have more flexibility when it comes to selecting a coach. The business isn’t on the precipice of existence like a start-up might be. The benefit of having achieved scale means that a leader can spend more time orienting themselves to specific problems. Owners of larger enterprises may want to pay attention to coaches with certifications or experience in organizational coaching. An executive one-on-one coach may work for established companies, but it’s best to have coaches with experience in fostering collaboration, talent retention, and communication dynamics in large organizations.
Differences Between Corporate and Small Business Coaching Packages
Comparisons of small business coaching packages and corporate coaching is an order of magnitude. Small businesses and corporations share many common needs but coaching methods differ in approach. Corporate coaches, similar to established companies, deal in the macro-level issues that influence companies: accountability systems, team dynamics, corporate acquisitions and mergers, and organizational restructuring.
Small business coaches deal more often with micro-level issues: one-to-one communication, work/life balance, and productivity concerns. While interpersonal communication and leadership advice are still big topics of discussion in corporate coaching, the focus may be on a much smaller scale with an executive or small business coach.
Business Coaching Packages Pricing
Business coaching packages pricing conversations generally begin with a simple introductory coaching conversation. Some coaching firms focus on specific niches or offerings and use it as an opportunity to explore whether the client is the right fit for their specialty. This conversation is almost always free to the client. This meeting establishes trust, affords clients a chance to ask questions, and explores whether the working relationship is a good fit. Coaching is highly contextual and much of the relationship is centered on personal rapport and an established feeling of trust. It is essential that the client gains this level of transparency and understanding to establish a successful coaching relationship.
Pricing out a business coaching package begins with establishing what services are essential to the business owner. Most coaching companies offer a range of packages, some focused on growth and scaling or others on the sale slide of a business transaction or mergers and acquisitions. Smaller consultancies may charge by the hour while larger coaching firms will charge a monthly or annual fee for services. Corporate coaching, generally speaking, is more expensive than hiring a small business or executive coach.
Business Coaching from Coachwell
The ROI you get from any business consulting is contingent on the quality of the relationship with the consultant. Business coaching is a highly relational and synergistic process, involving the efforts of both client and coach. At Coachwell, we work hard to establish the right client to coach fit. This is because we know how important it is that the client is fully vested in the process. Both client and coach must be aligned in a trusted relationship to make the partnership work.
A good coach is helpful in aiding the client to identify their goals, identify the metrics that are important to meeting those goals, and hold them accountable for what they initiate. Identifying a coach in your industry is just the first step in the process. It is less important that a coach have experience with every aspect of the client’s business as it is for the coach to demonstrate a track record of problem solving, responsive listening, and positive, result-bearing relationships in their past clientele. If these are in place, chances are strong that the client will see exponential growth in this coaching relationship.
