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What Do Grief and Trauma Coaches Earn?


One of th

e of the most common questions in launching a new coaching or consulting practice is from prospective clients.

They are almost always selling their time in hourly increments.

Suppose you're looking for a coach or consultant; their rates and packages are listed on their website.

And usually it's a three-month or six-month plan that includes a certain number of sessions or phone calls.

Moreover, that comes at some cost.

They are selling their time and services either by the hour in terms of money or by the term in terms of duration.

Either way, they're trading their time for money.

It's also typically the case with consulting.

In the event that you need their assistance, they provide consultation services or may create a proposal for you.

And almost often, it's blanket proposals for everyone.

I should know; I worked in that industry before and followed the same practices.

And it's a lot of effort when a client or prospective client comes to you saying, I'm interested in your services, and you talk to them on the phone or meet with them in person to find out what they want, and then you put together a proposal that outlines everything you're going to do and gives them a price.

The duration is often expressed as a number of months, however hourly and monthly rates are also common.

And then you hand it over, and they approve it.

Getting a customer like that must take a lot of effort.

Well, but that's the general trend.

I did the same thing when I first started out.

Since I am proceeding on the assumption that you already know how to accomplish that, it is not what I am trying to teach you in this course.

Since you've chosen this path, I'm guessing it's not going as well as you'd want so far.

To offer a clearly defined service with a clearly defined result at a clearly defined price is the essence of a hallmark program.

So, for instance, I've had a program in my company that was once known as the Personalized Business Makeover and is now known as the Total Marketing Makeover over the course of the previous five years.

Have a little silo while you wait.

No matter what you choose to call it, no one will give a hoot.

In many cases, individuals are stumped and wonder, "What should I call it?"

And they plan to invest substantial effort into coming up with a moniker.

I've closed deals with potential customers for my flagship program in consultations where I didn't even mention the name of the program.

Even the name itself is unimportant.

And yet, I referred to the signature software by those labels.

Same old show, basically.

For me to successfully aid my customers in packaging, branding, marketing, and selling their services, I developed a system that I now use with every single one of them.

My movements were clear and recognizable.

Usually, I followed the same sequence, but if I didn't, I could simply rearrange the actions in my head.

However, the procedures were always the same.

Since I had been doing this for a while, I had developed a set of procedures that I taught my customers and guided them through.

Then I realized I could package a highly targeted method.

I was certain that after completing all of the steps, my client would be ready to sell their product or service since they would have their company up and running, their service package branded and promoted, and they would have learned how to sell.

Consequently, I had already guessed the result.

That's a very special feature.

It wasn't the amount of time I was putting in.

It wasn't the quantity of calls they received from me, although I do track them.

However, I do not sell it in that form.

What we had there was a program.

This is the deal you're about to make.

What you'll be able to accomplish with your finished software is outlined below.

The cost is as follows.

There is no relevance to the concept of an hourly rate, and I couldn't even tell you how much to charge.

I don't charge by the hour.

In other words, a signature program is a procedure that you market to each and every one of your customers.

I've had consultants tell me, "That's great for coaching, but how well does it work for consultants?"

Because I performed the same thing when I was a consultant for businesses and NGOs, I can say that it works.

What I had to give was already honed and ready to go.

Did I adjust it somewhat for each customer?

Yes, I'll admit to it.

But I wasn't trying to start from scratch.

For the record, I wasn't offering hourly rates for my services.

If anything, I had a work plan that outlined the steps I was going to do with each customer.

It also included a monthly retainer that I set aside for it.

This is the result you will have.

Let me do this for you.

Not in terms of how many hours I'll dedicate to you.

And the monthly payment will be as follows.

Customers appreciate this since, speaking from experience, paying a culture consultant on an hourly basis is like signing a blank check; you have no idea how much you'll wind up paying them.

And it's possible that you're encouraging them to stay on the job longer.

Which is why they must increase their prices.

Therefore, it is unsettling for the client to pay for a coach or consultant without knowing the cost structure and the scope of services to be provided.

Also, it's far more challenging to find buyers for your time.

The main reason is that it requires a degree of self-promotion.

I'm curious as to how you'd assign a monetary value to it

How do you determine how much you should charge per hour as a coach or consultant in comparison to others in your field?

It's discouraging and makes you doubt yourself.

New coaches and consultants often believe they can't compete with the rates of more seasoned professionals.

Numerous up-and-coming coaches and consultants have come to me in recent years, asking, "How much should I charge?"

I did some research on how much other coaches and consultants charge per hour, and because I've been doing this for a shorter period of time, I decided to set my rates lower.

However, this has nothing to do with how valuable your time is and everything to do with how valuable your output is to your customers.

It's the item they'll be able to accomplish or have more of as a result of working with you as opposed to before.

They are purchasing just that.

To be specific, in my instance.

They seek financially rewarding pursuits.

They want to run a successful business in which they can attract customers with ease and engage in meaningful endeavors.

They'd rather not employ me on an hourly basis or pay Debbie for her time on an hourly basis without knowing what we'll be able to accomplish together.

The same holds true for you as well.

No matter what it is you're peddling, there's a certain something your target market is looking for.

Marketable goods and services need a method of delivery, therefore you'll need to develop a program and procedure to get it to the customer.

This removes the need for you to promote and sell your availability.

Don't worry about not knowing how much you're making each hour since you have a rate.

Clients will not declare, "I can't afford a six month program," as a barrier to signing up.

Have you have a month where I can employ you?

They begin bargaining over the length of the contract, depending on their estimates of their financial capabilities.

Also, I need you to consider something.

Believe of what you could accomplish with a customer if you worked with them for a month, doing whatever it is that you do in the manner that you do it right now, or if you aren't in business but are thinking about starting one, what you think you'll be doing with your clients.

Contemplate the results you might achieve for a customer if you worked with them for a full six months.

If you can't promise a noticeable improvement after six months of working with a client instead of only one month, you shouldn't be marketing a six-month program.

I don't want this to seem snarky, but the truth is that you only want to help a customer for as long as it takes to achieve their goals.

Customers will often choose a plan depending on how much they believe they can afford to pay over the course of the contract period (weeks, months, days, years).

They can't pay for a 6-month lease at this time.

I'm not sure I can commit to anything for six months.

That's why they'll choose for a more passive relationship with you, although maybe harboring the same hopes.

As a coach or consultant, selling your time in this manner does not set reasonable expectations for your clients.

So, you know, okay, you want this goal, this is a six-month program; here's the procedure with a defined duration, outcome, and fee.

It's a six-month process.

Can I simply purchase a month if someone asks?

I really can't swing six months right now.

I can't bring you this outcome in six months is an answer you can give them with complete confidence.

I've been around long enough to know that we can't deliver you the result you want in a month, and if you're new to this, then you don't know that either.

If they respond, "OK, I just can't do six months," then you know they aren't the right customer for you, or that your service isn't a high enough priority, or that their suffering isn't significant enough for them to work with you for six months.

Again, the choice of six months is arbitrary.

And even if you just use it to demonstrate a point, it will help you sell more effectively.

To put it another way, it aids in marketing the result.

It prevents customers from haggling about fees and other costs.

You won't have to wonder whether your time is worth $100 an hour or $500 an hour.

Since customers are not paying for your time, but rather for a result, the entire thing is rendered moot.

A signature program makes sense now.

That's why I like it so much, among the many other reasons.

It's also much less of a guessing game to figure out how much money you'll earn since you can easily multiply the price per customer by the number of packages sold to get an accurate estimate.

In Module 2, we'll discuss how to do a financial feasibility analysis of your hallmark program.

But the main reason I like it is because it provides you a certain conclusion to promote and sell, which in turn gives your customers a definite product to purchase.

A hallmark program is, then, a clearly articulated procedure or series of actions that you use with each and every client to get a clearly articulated result—something specific that they will be able to accomplish or achieve that is different from or better than before they began working with you.

That's right, that's what this class is all about.

So, let's proceed in the following video.

As a company owner since 1998, I'm going to tell you about what occurred to me two years ago.

Since then, I've accumulated a lot of experience in this field.

However, I decided two years ago to split this apart and provide a variety of options to choose from.

Moreover, I put that theory to the test for a whole twelve months.

And I'd want to tell you about what transpired.

You can count on me to get there right now.

Just so we're on the same page and you know what you're getting into with this course, I'll clarify what a "signature program" is in this session.

Before I offer you my definition, I'd want to mention that one of the most common reasons I am asked for assistance in launching a new coaching or consulting practice is from prospective clients.

They are almost always selling their time in hourly increments.

Suppose you're looking for a coach or consultant; their rates and packages are listed on their website.

And usually it's a three-month or six-month plan that includes a certain number of sessions or phone calls.

Moreover, that comes at some cost.

They are selling their time and services either by the hour in terms of money or by the term in terms of duration.

Either way, they're trading their time for money.

It's also typically the case with consulting.

In the event that you need their assistance, they provide consultation services or may create a proposal for you.

And almost often, it's blanket proposals for everyone.

I should know; I worked in that industry before and followed the same practices.