Here is one thing for certain. When you are in the need to hire a lawyer, for whatever reason, no one ever questions the practice of the retainer and the billing method and then the replenishment of the retainer. “This is how we work, everyone in the legal profession works this way.” This is what they all say and we believe it and follow along, after all, we need a lawyer, for whatever reason.
If you are in the service industry in any capacity, how often have you discussed the ultimate value to a potential client after asking probing questions and learning about them and their business and then you are asked, “What do you charge?”
Now let’s be honest, in your head you are thinking, “What am I a can of soup!”
The reality is – it depends. It depends on going the next step. This might take the form of an initial meeting or consultation. It might take the form of speaking with other people in the organization. Certain service providers charge for these initial consultations. Other professionals will charge for the initial visits and then offer a credit back on the longer term contract once it is proposed. There are many who simply will answer the question with an hourly rate.
For example: “My hourly rate is $250.”
These folks are a can of soup!
A few years ago my business model was adjusted for the majority of my coaching clients. A no cost initial call for approximately twenty minutes is available based upon my schedule each month. This will determine how many of these initial calls will be available.
If there is a match the client is offered an introductory call for almost one hour at a fee. The next step is important as the client will need to really understand the opportunity and have the ability to take action in order to obtain results.
Three packages are proposed all of these based upon the client and their needs and the amount of time needed in order to realistically see results on a consistent basis from our work together. Certain clients have levels of goals which require more time in order to achieve each level of goals they have set for themselves.
A CEO or a business owner – each have at least one thing in common – who are they able to have a conversation with that does not have an agenda?
The ability to work with a professional coach gives this type of person the slight edge. This slight edge is the difference maker in numerous ways. The increase in their own performance, the ability to build stronger teams, mentor leaders, create a culture for their organization and to have a life outside of their workplace and business. Each of these items are extremely valuable.
In fact they are the tip of the equation. Ask anyone who has worked with a professional coach and they will tell you the value.
Everyone is different. Everyone is unique.
None of my clients are a can of soup!
Are you interested in working with your own coach?
Mitch Tublin runs a boutique consulting company with a main focus on leadership development, executive coaching and business advisory services.