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Life Coaching For Results (Part III)

Life Coaching For Results (Part III)

Determining Your Coaching Fees
Last updated 5/2021
English
English [Auto],

What you'll learn

  • In this course, you will learn step-by-step how to determine and structure your coaching fees.
  • By the end of this course, you will be able to factor in all the components of coaching to calculate your coaching fees

Course content

1 section36 lectures2h 3m total length
  • Module I3:45

    Align coaching with your personal perception, explore two coach archetypes, and set the goal to become a results coach who charges high-end fees.

  • Test your understanding of Module I
  • Module II6:35

    Change your perception of coaching to match finances and pursue high end coaching fees as a results coach. Explore how the 80/20 principle and session fees shape your earnings.

  • Test your understanding of Module II
  • Module III6:57

    Determine the price of your coaching program by considering its length, frequency, duration, and how it complements your signature program, then charge by the program for fast, high-end results.

  • Test your understanding of Module III
  • Module IV4:57

    Explore how coaching delivery options and perceived value determine high end coaching fees, with steps 3–5 and a signature program example illustrating a 6,500 dollar total.

  • Test your understanding of Module IV
  • Module V5:53

    Position high end coaching fees through a results-oriented signature program and professional persona, using value perception, clear commitments, and a proven system to deliver outcomes.

  • Test your understanding of Module V
  • Module VI3:03

    Address the price objection by stating that fees reflect the services and results delivered, as outlined in the coaching agreement and the results coach mastery system.

  • Test your understanding of Module VI
  • Module VII3:10

    Counter the 'I can't afford it' objection by uncovering motivation and confirming outcome, never discount high-end fees, never provide coaching before payment, and offer pacing options to fit budgets.

  • Test your understanding of Module VII
  • Module VIII2:34

    Examine price objection number three and the return-on-investment concept over a money-back guarantee, and explain a cancellation clause tied to every fourth coaching session anniversary.

  • Test your understanding of Module VIII
  • Module IX2:32

    Explore price objection four and why life offers no guarantees; compare doctors and lawyers with a results coach using a signature program to guide clients toward their desired outcome.

  • Test your understanding of Module IX
  • Module X2:40

    Analyze price objection number five and why financing coaching services can be tricky, including installment plans, pre-recorded programs, and the golden rule of full payment in advance.

  • Test your understanding of Module X
  • Module XI2:12

    Tackle price objection number six by explaining why clients should commit to the full signature coaching program rather than sampling, because it takes two to tango, and highlight cancellation clause.

  • Test your understanding of Module XI
  • Module XII2:34

    Address price objections by examining 'think about it' moments and the risks of discounts, contrasting authenticity with sales tactics in professional coaching.

  • Test your understanding of Module XII
  • Module XIII2:29

    Explore selling a stand-alone signature program without coaching, including due diligence, pricing at full price, and offering a 50 percent credit for a recent purchase, while maintaining client rapport.

  • Test your understanding of Module XIII
  • Module XIV2:20

    After completing a coaching timeline and fulfilling the agreement, the client can choose another form of coaching, with hybrid coaching as a potential alternative.

  • Test your understanding of Module XIV
  • Module XV5:53

    Position your high end coaching fees by showcasing a signature results program and professional standards, avoiding price haggling with clients through clear value and outcomes.

  • Test your understanding of Module XV
  • Module XVI3:29

    Assemble the necessary components of the coaching agreement based on the coaching proposal, highlighting its symbolic yet enforceable nature and portraying coaching as a creative facilitation.

  • Test your understanding of Module XVI
  • Module XVII4:42

    Identify the seven essential elements of a coaching agreement, including proposal, acceptance, consideration, promise to perform, time, terms and conditions, and performance, for life coaching.

  • Test your understanding of Module XVII
  • Module XVIII3:13

    Define the coach and client as parties to the agreement, spell out the coaching services provided, and state the initial promise to help the client achieve the desired outcome.

  • Test your understanding of Module XVIII
  • Module XIX2:56

    Clarify the coaching agreement as a partnership between coach and client to facilitate a desired outcome. Maintain arm's length separation and distinguish this relationship from a business association.

  • Test your understanding of Module XX
  • Module XX2:33

    Craft a concise, fluid summary of the client's desired outcome from initial consultations with the client and persona coach, to be used as the elevator speech in the coaching agreement.

  • Test your understanding of Module XXI
  • Module XXI2:53

    Describe drafting the client's desired outcome in the coaching agreement, covering five steps: identify the issue, analyze it, shift perception, apply the signature program, and develop a solution via addendum.

  • Test your understanding of Module XXII
  • Module XXII3:40

    Insert a coaching timeline into the agreement with the persona coach and set a six-month cap. Break long outcomes into bite-sized goals with separate timelines, keeping the client in control.

  • Test your understanding of Module XXIII
  • Module XXIII2:29

    Enter the value and cost of a client's desired outcome into the coaching agreement, clarifying the what, why, and when, and underscoring that every outcome requires an investment.

  • Test your understanding of Module XXIV
  • Module XXIV2:59

    Identify the cost of not achieving a desired outcome and the client's perceived value, and enter a formula in the coaching agreement to align benefits with risks.

  • Test your understanding of Module XXV
  • Module XXV2:26

    Explore how the value and cost of the desired outcome shape the client's investment in your coaching program. The investment, drawn from the coaching proposal, should be reasonable and realistic.

  • Test your understanding of Module XXVI
  • Module XXVI2:26

    Explain how the coaching program length is set in the agreement, typically three to six months, with sessions by telephone, in person, or online, plus between-session support.

  • Test your understanding of Module XXVI
  • Module XXVII2:14

    Enter the fee structure for your coaching services into the agreement based on client value and cost. Set upfront payments and installment terms, ensure sessions are paid in advance.

  • Test your understanding of Module XXVII
  • Module XXVIII2:19

    Identify the conditions of your coaching agreement that give substance to business terms, clarify the client coach relationship, and address legal disclaimers.

  • Test your understanding of Module XXVIII
  • Module XXIX2:32

    Emphasize integrity as the soul of coaching by upholding ethical, moral, and professional standards for a results coach. Commit to professional conduct, fair fees, and unwavering honesty to earn trust.

  • Test your understanding of Module XXIX
  • Module XXX5:20

    Take responsibility for the actions you choose as a result of coaching and for your physical, mental, and emotional well-being across work, finances, health, relationships, education, and recreation.

  • Test your understanding of Module XXX
  • Module XXXI3:32

    Lead punctual, professional coaching sessions by scheduling mutual consent times, initiating calls, and maintaining 30 to 45 minute sessions. Emphasize routine, client accountability, and control of the coaching process.

  • Test your understanding of Module XXXI
  • Module XXXII3:46

    Discover the importance of pre-session preparation through a client-submitted session prep sheet, outlining progress, expectations, and emotional/financial value to quantify coaching benefits and guide upcoming goals.

  • Test your understanding of Module XXXII
  • Module XXXIII3:15

    This module explains the coach's duty of care to maintain strict confidentiality within the coach-client relationship, outlining what stays confidential and when disclosure with client consent or law is required.

  • Test your understanding of Module XXXIII
  • Module XXXIV2:26

    Establish a 48-hour cancellation policy for coaching sessions in your life coaching practice, with clients responsible for notice and the coach reserving the right to charge for missed sessions.

  • Test your understanding of Module XXXIV
  • Module XXXV3:54

    Learn a practical exit formula for coaching agreements when a client loses value, including upfront deposits, four-session installments, and 25% refunds after the fourth session.

  • Test your understanding of Module XXXV
  • Module XXXVI2:52

    Examine personal and professional liability in life coaching, review a limited liability clause, and learn how liability protection is balanced, with guidance to consult a lawyer and sign the agreement.

  • Test your understanding of Module XXXVI

Requirements

  • There are no specific course requirements, prerequisites or special software to complete this course.

Description

In Part III of “Coaching for RESULTS”, you will examine the step-by-step process of determining your coaching fees. By the end of this section, you will not only be able to “calculate” your fees, you will also learn how to justify them. The formula that establishes your fees is based on the relationship between the Value and Cost of achieving a Desired Outcome.

There are five components that you will use to determine your fees. They are your Signature Program, your Coaching Program, how you deliver your Coaching Program, the Value of achieving your Desired Outcome and the Opportunity Cost of not achieving your Desired Outcome. Based on these five components, you can build a formula to calculate your fees in a professional manner. You will learn how to deal with objections over the fees you charge.

You will also assemble a generic Coaching Agreement that you can offer your clients. I will discuss in detail the various components of this Coaching Agreement, including a cancellation policy to end your relationship with a client in a professional manner.

If you want to succeed as a coach, you must treat coaching as a profession, just like doctors and lawyers. If you’re not taken seriously, then neither will be the value of your coaching sessions!

Who this course is for:

  • Anyone life or business coach who struggles with charging adequate coaching fees!