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STICKY SITUATIONS

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This issue is a compilation of our Sticky Situations columns from all of our past issues!

See how our expert panel of Senior Coaches handles unique situations that come up in the coaching process.

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Part 2 of a four part series by Kim Ades, MBA

What's Journaling Got to Do With It?

Part 2: Challenge 2 - Asking for Fair Payment

Many coaches have gotten into the habit of undercharging, and even providing a substantial volume of their services for free. By and large, coaches are not comfortable asking for fair payment.

Why? First, many coaches are not convinced that they have the ability to deliver results to their clients. Second, many coaches do not feel that the value they provide is substantial enough to warrant a fair price.

"I'm not a doctor. I don't have a PhD. How can I charge more than them on an hourly basis?" And through a series of very logical deductions, they psych themselves out of charging fair rates.

A Journaling Platform can help coaches who are in this predicament to change the fair payment paradigm substantially and go from giving away their coaching for free to charging executive rates.

When you design your coaching agreement, ask your clients to journal regularly in an online journaling platform. Reading and responding to their journals each time they submit an entry will do the following:
  • Increase the frequency of contact between you and your client, allowing you to deliver an obvious increase in value.
  • Enable you to ask insightful questions in between coaching calls or meetings, allowing you to demonstrate your coaching savvy on an ongoing basis.
  • Maintain momentum in between coaching calls or meetings.
  • Track their progress so as to demonstrate evidence of transformation over time, in their own writing.
  • Position your coaching practice as a technologically competent, leading-edge coaching company as opposed to a small, independent home-based coaching service.
You might wonder how much extra time it will take for you to provide such an increase in service to your client. It takes anywhere from 15-30 minutes each week. However, it also means that there is no longer any need for the pre-coaching file review 15 minutes before your call or meeting because you are already up to speed. This is time spent with the client that is visible to the client, and therefore adds tremendous value to the coaching experience. More visible value means it's a whole lot easier to ask for fair payment. In fact, the value is not only visible; it's such a powerful component of the client's coaching journey that your clients will provide outstanding testimonials as a result. Being able to stand behind your results will make asking for executive rates a piece of cake.

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About our expert:

Kim Ades, MBA is president and founder of Frame of Mind Coaching and JournalEngine™ Software. She is internationally renowned for her innovation and passion in the coaching industry. With clients all over the world, from Malaysia, to South Africa, Canada, and the US, Kim and her team of coaches have transformed the process of coaching through the creation of JournalEngine™ Software and are taking the coaching industry by storm! Author, speaker, entrepreneur, coach, and mother of 5, Kim shares her own early challenges of growing a coaching business and how she implemented a simple idea to now coach hundreds of people each year.

For more info contact:
Kim Ades, MBA
President Frame of Mind Coaching and JournalEngine™ Software

www.journalengine.com
www.frameofmindcoaching.com
kim@frameofmindcoaching.com
416 747 6900 ext. 221

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