We know you have questions and we have the answers
Working with an experienced business coach is your ultimate tool to achieve massive results. Globally, some of the most successful companies and entrepreneurs rely on business coaching services to become the best version of themselves and differentiate their offerings from the competition. During these meetings, you’ll set clear goals and map action plans to achieve them, break through limiting beliefs that are holding you back and identify opportunities and strategies for creating personal and business growth.
A coach is a mentor that empowers the people within an organization to find their own solutions to business issues. Coaches are often generalists that share knowledge, encourage mindset shifts, and conduct critical thinking exercises to empower the organization. A coach is not the same as a consultant.
When searching for a business coach, pricing will definitely vary based on several factors. First, and most importantly, pricing will be affected by the experience of the coach. When a coach has a strong track record of success with clients over time, it will cost more. That knowledge will often accelerate the achievement of goals while creating excellent team cohesion. Second, the methodology being used will be a key factor. There are several different methodologies that exist. Some have more tools and resources with a proven track record. It is important to understand which is best for your business. Third, every business coach will have their own structure. This includes meeting rhythm, vision building process and level of support. The level of support specifically will be an important factor in pricing. Finally, you will need to find business coaching services that fit your business size and aspirations. You can choose to invest in a more experienced coach, which could be a great decision, but it will definitely depend on your willingness to take that leap. It isn’t for everyone. To answer this question, we will base pricing on an annual coaching contract. The range will be 25K to 100K USD. The range is wide based on the above factors. It is important to meet 2-3 different coaches / coaching organizations to ensure the absolute right fit, from both a values and structure perspective.
When you work with a business coach, you’re hiring an experienced partner in profitable business growth. Your business coach helps you clarify your business vision so that it aligns with your personal and professional goals. A coach has the business savvy to “see the forest through the trees” and help prioritize your work accordingly. With a business coach at your side, you’ll be empowered to use key tools for understanding your business – its mission, operations, financials, culture and overall viability. As you work with a business coach, you’ll discover a process for addressing challenges, correcting imbalances and creating solutions that will prepare your business for long-term success.
This will depend on the structure provided by the coach / methodology. Let’s look at this on an annual basis. Typically you can expect to spend approximately 5 full business days in strategic sessions. There will also be monthly and weekly meetings. What is important to note is that this time commitment should not necessarily be on top of what you are already doing. There needs to be an impactful optimization of time spent on meetings within the business. If you were already spending time working on strategy, the time commitment will be more of a trade off. If not, there will be some more time needed for the process. But again, a huge part of business coaching is saying no as much as yes. Time will definitely be gained when working with a business methodology.
There are always important gains in year 1: Team alignment, a clear vision both long term and short term, better meeting structure, stronger recruiting and retention processes, etc. These will have a positive impact in your business quickly. There are intangible gains you will also see such as an improved culture, solid engagement and better communication. It is near impossible to put this in financial terms. Our goal is to help you 10X your business valuation, 3x your profits and 2x your cash flow. It is admittedly challenging to put a timeframe on this. This depends on many factors such as the company’s level of commitment to the methodology, market dynamics, team cohesion and process execution. Realistically we encourage a 3 year commitment to the methodology (not a contract).
We don’t want to make this a sales pitch. The goal of our FAQ section is to provide a transparent approach to the entire coaching market and not sell you on “our” advantages. That being said, we will explain what we do differently. There are a few things we do to ensure a seamless experience for our clients. Our coaches have entrepreneurial experience in businesses that are similar to yours. They have been where you have been. We also provide unlimited support to the entire strategic team which is fairly rare in this industry. We have developed a very detailed suite of tools that compliment the already robust Scaling Up tools. Another differentiator is our focus on helping you 10X your business valuation. We will review your current valuation as a baseline to see where we can take your business over the next few years. There are a few tech savvy solutions we will help you integrate for much improved team communication and cohesion. We also integrate stress reduction techniques to find the very necessary balance between ambition and burnout. It is critical to keep the highest level of energy to successfully run your business.
Due to the sensitive nature of our work, we don’t share specific company names, although we will provide strong references on a one-on-one basis. Entrepreneurs are always willing to speak to other entrepreneurs! From the highest level, we have companies who have 10Xed their business valuation. Two of our clients have had successful IPOs. There have also been several positive company exits.
Integrating a business methodology is a major commitment. The main element this brings is absolute FOCUS. This means saying NO as much as committing to specific strategic pillars. The ultimate goal is to SAVE time. We will not be adding meetings, we will be optimizing them. The goal is for you to gain back as much as 80% of your time from daily operations management. To say you don’t have time means there is likely a level of disorganization and lack of focus. This process will correct that. As the buddhist saying goes, “Sit in solitude 20 minutes per day. If you are too busy, sit in solitude for 1 hour.” Being busy for the sake of being busy won’t lead to achievement. Only with a highly aligned approach can a company achieve their goals.
This is a very important question. We recommend Scaling uP for businesses between 3M and 100M. That being said, there are exceptions on both ends of the spectrum. If you are smaller than 3M, but have a few key members in place, an ambitious vision and thirst to scale, we could definitely launch the scaling Up process. The biggest challenge is for “Solopreneurs” who are doing everything at the top. It becomes almost impossible to run the process when you are alone.
There are multiple ways you will know you are ready to scale. Here are some real world examples. You have hit a wall with your team, understanding some of the team members are no longer cutting it. There is a major lack of alignment, with silos being created throughout the organization. There is no common vision for the team to rally around. People are working on multiple projects with little to no results. Does that sound familiar? Another example is having a solid product vision, some good customers and being ready to take a big leap. You want some external help and structure to make this happen. Or perhaps you have a lifestyle business that is ready to become a serious player. You want a growth methodology you can implement with the team. These are all ways you will know you are ready to scale.
This is very common. The best way to move forward is to have both the introductory call with the potential coach and what we call the free “Discovery Process” with the entire Strategic team. It is imperative the founders / owners all have buy-in to the process. Equally important is to ensure the strategic team understands the commitment you are making and are committing to the process. Those two virtual calls will give you a ton of information to make your decision. There is no commitment. It is a true learning experience. If you decide not to move forward, you will still have learned a ton along the way. Nothing is lost.
The Scaling Up Process is incredibly collaborative and inclusive. We highly recommend building a strategic team at the top. We want to surround the partners with the right people to achieve our goals together. One good way to think about this is in terms of company functions. Are all of the functions well represented in the strategic team: Sales + Marketing + Operations + HR + IT + Technology + Finance + R&D + Customer Service, etc. Another important consideration is having “strategic” individuals around the table. It will be challenging if the team has too many “tactical” team members. This process does require the ability to think strategically about the entire business.Eventually we will also integrate the next layer of management, and all other team members into the process.
Whether your business is in its early stages and needs help moving in the right direction, or your organization is established but is experiencing the frustration of stagnation or chaos of growth, you’ll create a plan for profitable growth and unprecedented success. Your coach will get to know you and your business and empower you with personal, 1:1 guidance to help push you to achieve your greatest goals and meet your organization’s specific needs. With more coaching, you’ll experience greater and greater success, and incorporating business coaching for each member of your executive team can result in explosive, exponential growth.
When you live and breathe your business on a daily basis, it is hard to create a separation. It is easy to get caught up in the daily operations, rarely being able to take a bird’s eye view to work “ON” the business. A strong coach will help the team build a long term vision and think much more strategically. The coach will also provide an unbiased external perspective that will challenge the status quo. Another benefit is the ability to bring examples and experiences from other similar companies, creating a flow of new ideas that could be implemented quickly. Finally, a strong business coach can help the team engage in constructive conflict that is a key ingredient for every successful company. Most avoid these challenging discussions. The coach will provide a safe platform for collaboration despite differences in opinions.
Forbes reports on the overwhelming success of business coaching services. Of the business coaching clients surveyed, more than 85% reported financial benefits that far exceeded the investment they made hiring a business coach and 70% reported improved work performance and communication skills. Business leaders also reported an increase in self-awareness – one of the most powerful “soft skills” you can develop for building your business network – after working with a business coach.
The Harvard Business Review confirms that business owners and managers decide to work with a business coach for a wide range of reasons – 48% to facilitate a business transition, 26% to act as a sounding board, and 12% to address problems derailing the company. Maybe your business is just starting out and needs help moving in the right direction. Or maybe your brand is established but has hit a plateau. Perhaps you’re losing staff – or customers – and you can’t figure out why. Or maybe your market is evolving, and you need help keeping ahead of the changes. A skilled business coach is a mentor who comes alongside you to help you address any challenge you’re having.
The pre-process begins with an introductory CEO call to get to know the client’s needs. Then we move on to a 90 minute discovery session with the entire strategic team.From there, we will decide if there is a mutual fit to start the Scaling Up Coaching mandate. Once we begin, step 1 is information gathering as we need to know where your company is currently positioned strategically. Step 2 is the Scaling Up Assessment to be completed by the Strategic Team. This will give us a great view on the level of alignment at the highest level in the company on the 4 big pillars: People, Strategy, Execution & Cash. Step 3 will be the official launch with the 2 day Vision Building session. From there the unlimited support starts as does the weekly, monthly and quarterly meeting rhythm.
Let’s be honest here. Telling you the Scaling Up Methodology is “better” than EOS or another structure would be unfair for a few reasons. There are various tools out there and the way you use them will really be the key. And of course the coach you choose will make a major difference. We reiterate that the values fit with the coaching organization you choose is a very important factor. We offer Scaling Up which has many tools, as does our own Elevation coaching organization. We believe greatly in these tools and the way we deliver them. But certain other coaching organizations will also be excellent at delivering their methodology. Find the best fit for you.
The Scaling Up methodology is a medium to long term process. There will be some quick wins, but the biggest impact happens after year 1 as the team comes together and strategic initiatives begin to shine throughout the organization. That being said, our Brand Promise allows all of our valued clients to STOP at any given time after three months. We don’t believe in contracts. We believe in delivering a world class experience. If you are not happy, you can simply stop. We provide unlimited support to the Strategic Team and will always go the extra mile.
This is a very important question. Scaling up is not for every business. Your company must be well positioned to start the process. We work with companies that have surpassed the 1M revenue target. Ideally you have a strategic team in place. It is imperative to have support at the highest level to succeed. You must also be ready to fully commit as this will only work with discipline and buy-in from the entire team.
When you work with a Scaling Up Coach (or any strong business coach), they will lead the process and ensure your needs are well taken care of. The process starts with a 90 minute discovery call, where we encourage the entire strategic team to attend. This is followed by completing the Scaling Up assessment, where you will get a very good idea how your business is doing with the 4 Scaling Up pillars: Strategy + People + Execution + Cash. And the next major step is the 2 day Kick-off, where we will be the foundational elements of your OPSP (One Page Strategic Plan).
It will be challenging to launch the Scaling Up process if you are at the very beginning of the startup stage. That being said, there are different types of startups. You may be funded or have investors, already putting a strong team in place. That is the number one criteria to start a strategic planning process. Having a small strategic team that can build the vision and take on some of the key responsibilities needed to make it successful.
Some companies try to champion a business methodology themselves, specifically in the early stages. Due to the important investment in bringing in a business coach, smaller businesses will try to self-implement and typically are able to get things off the ground to start. We normally see a lack of ability to sustain the momentum as “business” gets in the way and internal resources are stretched thin. If you are a smaller business, we would definitely recommend reading Scaling up and Traction, and giving it a try to start. As your resources increase (people and money), investing in a strong external coach will make a big impact. As business owners, we are in the daily grind and struggle to take a step back objectively. This was certainly the case for me in my business. This is the reason we hired a coach after we surpassed the 5M revenue threshold. It was one of the best decisions we ever made. The right business coach - one who truly fits your values and understands your industry - will bring an external perspective and significant experience sharing that will be transformative.
Every business is unique in their goals and objectives. However, we believe the one constant that should be present in every single “private” business is Profitable Growth. There is incredible risk when growing quickly. The faster the growth, the more chances profits will be negatively affected, putting the entire business at risk. These decisions will be made upfront, in our first 2 days of Strategic Planning. We will decide as a group exactly what you want to achieve and how. This will lead to important discussions around the ability to stay profitable while attaining objectives. The role of the coach is to challenge the plan if it is unrealistic or will put the business at risk. Eveeyrs ingle business we work with (without exception) tries to take on too much. It is human nature in a capitalist society. We overestimate how much we can accomplish in the short term, and underestimate what we can achieve in the long term. It is as important to say “NO” to certain initiatives as it is to take on lofty goals. Your business coach will help you figure out the right balance. It is a learning process and will take time. But it will bring tremendous focus and alignment.