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Has Business Coaching Lost its Touch?

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Has Business Coaching Lost its Touch?

When I got into coaching some 12 years ago, it was all about communicating over the phone. This was so that clients could stay in their comfortable environment and be coached from all over the country and potentially the world.
 

When I was an associate professor of coaching at Bellevue University, we used that as a selling point to a great lifestyle business that served the coach and clients needs.

I have built a boutique coaching company as many of you know. I work with successful advisors from all over the US and Canada. When I was reviewing my best clients, the ones who get what I do for them, they all had one thing in common: it all started with an intense in person assessment of their needs. In person, yes I said it. It is terribly time-consuming for both parties, but the connection and information derived from that assessment has made them clients for life.

I have the chance to look you in the eye, meet the team, see the space and most of the time, and meet your spouse and family. I help you with your life, not just your business and in order for me to do this, we both need that intensive time to look each other in the eye, share your surroundings and life with me and find out how I am able to help you balance your life and your business.

So, why don’t other coaching companies do this? Here is what I have heard:

  1. It is just too expensive and not that profitable.
  2. It creates more barriers to entry and price objections.
  3. No one wants their personal life invaded.
  4. What do you talk about for 1.5 days?
  5. I can do everything needed over the phone.
     

Let’s look at each of these individually:

1. It is just too expensive and not that profitable. It is expensive on the part of the coach. I am out of my office, only spending time with one client for three days, therefore not seeing or servicing my other clients. When you look at it from a long-term perspective, it is profitable because you have a different relationship with your clients and they stay clients longer. Short term loss for a huge long term gain in profits.

2. It creates more barriers to entry and price objections. My old boss used to say, “price is only an objection when value is not shown”. Is it expensive for me to come out and spend that time with you? Yes. Is it a barrier to you joining my client ranks? If it is, then I will likely choose to not work with you. I want clients who will make a commitment of time and money to create a real relationship with a coach! Don’t you want to have someone in your corner that is just there for you? Someone who will help you have the best business and life you can have? 

3. No one wants their personal life invaded. Most advisors who object to my process are afraid of what I will find, and most of the time, the problem with their business is them. If you do not want to see what is going on and what you need to fix, then yep! You don’t want my assessment.

4. What do you talk about for 1.5 days? That is part of the secret sauce I can only say, after coaching over 600 offices and speaking to thousands of advisors. You just know what needs to be talked about and what needs to be uncovered. We have created a 99 point assessment that we bring to all our assessment clients.

5. I can’t do everything needed over the phone. Even the greatest coaches cannot do everything over the phone. We can do a lot over the phone. But, without the real context of your life, office, culture and environment that can only be absorbed in person, coaches can only do so much. For some coaches that might be enough, but for me, not what I want to do. I like getting my hands dirty with your life.

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