Last week, we spoke about revisiting our finance structure and asked the question about whether you had a handle on your income and expenditure?
This week, we are going to explore VALUE. This is VALUE in what your clients experience from you as a coach or coach supervisor.
- Are they getting good value for the amount that they are paying?
- How do you know this?
To think about this further, let’s explore some of the benefit areas that our coaching can provide. Download the template and gently fill this in, reflecting on the experiences perhaps of the last 4 clients. A few thoughts:-
- Explore not just the name of the client, but who they actually are.
- Describe from your reflections about what your supply them. Avoid bullsh$t bingo terms such as coaching, facilitation and dig beneath this to explain what it is.
- When thinking about value, position yourself in their position. Expand on why greater productivity and what is the value to them. Perhaps this is an opportunity to go out for a walk, to spend time with friends or do something in the community. I have mentioned before the resource by Umair Haque (Betterness). In this, he invites us to expand our thinking beyond purely financial gain to community, personal and intellectual freedom
- Be critical on what could add even more to their experience. I often speak about the Chakra. One power point is the Manipura or Navel Chakra. This is where we get that gut feel. Sometimes we need to listen to this gut feel and understand what it is saying to us.
The final element to this process is to then act on your intuitive thinking. Act on the way you engage, add some, take some away and really polish up that relationship lifting it even further from a commercial relationship.
Some stats for you on pure return on investment:-
“A Fortune 500 company wanted to study the ROI of Executive Coaching. They found that 77% of respondents indicated that coaching had a significant impact on at least one of nine business measures. In addition, they uncovered that overall productivity and employee satisfaction were the most positively impacted areas (which in turn has an impact on customer satisfaction, employee engagement, quality, annualized financial results, and more). In all, their study concluded that Executive Coaching produced a 788% ROI. The study noted that excluding the benefits from employee retention, a 529% ROI was produced. (Executive Briefing: Case Study on the ROI of Executive Coaching, Merrill C. Anderson, Ph.D., MetrixGlobal, LLC)”
“According to the International Coaching Federation (ICF), 86% of organizations saw an ROI on their Coaching engagements, and 96% of those who had an Executive Coach said they would repeat the process again. Behind these results were tangible as well as intangible factors. Tangible factors were areas such as increased productivity, higher levels of overall employee performance, reduced costs, growth in revenue and sales, higher employee retention, and higher engagement of employees. Intangible factors were increased confidence of those being coached, improved communication, stronger employee, and peer-to-peer, and key stakeholder relationships.”
The next Co Coaching is on 3rd March in the evening – see here for more.
I am also growing the next Coaching Development and Supervision Cohort – if interested – check out here for more.