How much does business coaching cost?
How long does it take to implement Scaling Up and how much do business coaches charge?
Are you exploring hiring a Scaling Up business coach and curious to know more about the investment of time and money? If so, this piece by Dominic Monkhouse will explain how he thinks about the time investment and cost to hire a business coach in London or internationally. It is not the first question he normally gets asked though, that’s usually “can you help me?” or even “What does a business coach do?” However, when eventually someone becomes a client, they ask “How much time does it take to implement the Scaling Up tools and techniques?” and “What does a business coach cost?” His answer depends on several factors:
- How inherently disciplined are the CEO and the senior team? No company OUTPERFORMS its leadership team.
- Do you have a PLAN? Are you going to self implement or hire an experienced business coach?
- Are you DRIVEN to do what it takes? How quickly do you need to reach your goals?
- Do you have previous EXPERIENCE of implementing other methodologies across the business?
- Have you had previous experience of working with a BUSINESS COACH or attending a peer board?
You might think that a small business or start-up would be able to implement Scaling Up more quickly than a larger firm. However, they often do not have the spare capacity or the leadership depth to implement the system and find themselves trapped in a cash execution cycle that is hard to break free from. Larger well-established firms have the leadership team and resources to create a strategic plan and execute it with the necessary vigour.
There is a broad range of possible costs for organisations seeking to implement the Scaling Up tools. They should think about spending anywhere from £20 to £200,000 per year for several years.
If you are still wondering what specifically a business coach does, then click here.
The £20 to £200 investment route
Do It Yourself Scaling Up
This is the do it yourself, no business coach option. Buy a copy of Scaling Up: How a Few Companies Make It…and Why the Rest Don’t (Rockefeller Habits 2.0) from Amazon or Waterstones for your team and go for it. The book is a true how-to guide and includes eight open-source one-page tools that underpin implementation. Possibly even read a copy of Verne Harnish’s first book Mastering the Rockefeller Habits: What You Must Do to Increase the Value of Your Growing Firm.
There are several other books we would consider as additional core texts from Jim Collins, Patrick Lencioni, Shannon Susko and Brad Smart. There is no doubt that everything you need is in the pages of these books. You then need to bring the motivation to change and the determination to do the hard work to keep going when it gets tough.
We receive feedback from every delegate and currently, the NPS for value for these sessions sits at 100.
See for yourself how these tools could impact you and your business. Attend the next Scaling Up Business Growth Workshop.
We worked with Dominic last year at a turning point in the business to help restructure the sales team. In the next 12 months, we have smashed it. Revenue is up by 156%, new order intake is up 136% (with fewer people) and we have engendered an amazing culture. If you need help you should call him!