- You’ve heard of business coaching, but unsure if it is right for you
- You’ve heard of business coaching but are nervous of the initial investment (at least until you start seeing results that are)
- You are currently working with/have worked with a coach on a one-to-one basis, but are keen to try something new.
If any of these statements sound like you, it may be a time to consider group-based coaching.
Rates for one-to-one coaching retainers are often higher than people expect – fees depend on the number of people being coached, style of interventions, the skill/experience of your coach and your desired Return on Investment. The advantage of one-to-one coaching is that your entire team can be included in the process (and even coached individually), results are faster. The process is tailored to your current needs and adapted at any stage as your business evolves.
While one-to-one coaching is where clients see the greatest results, many entrepreneurs struggle to justify the investment when deciding whether or not to be coached. It is always a tragedy seeing a business decline the opportunity of coaching for budgetary reasons and not reach its full potential.
Enter Group Coaching
“Sharing” a coaching retainer means a substantial saving and we regularly see smaller businesses starting off in a one-year, group mentorship programme and then scaling up to more intensive programmes as their businesses and profits grow.
Pros of Group Coaching:
- Affordability – rates vary but typically is a third of the cost of one-to-one coaching
- Networking – members regularly do business together and share sales leads/opportunities
- Energy – so important to surround yourself with a group of positive, like-minded business people to motivate one another when needed
- Variety of backgrounds and skillsets – meaning the groups become a ‘brains trust’ (or even a virtual Board of Directors) on which members can draw
- Structure and expertise – most follow a set agenda, process or curriculum, facilitated by a professional coaching team
Cons of Group Coaching
- Usually one member per business, but we now have options for partners and team members to be included in the process too
- Pace – can be too slow for your liking, depending on the group you partner with
- Fixed schedule – set group sessions meaning you have to take ownership of your time and your diary
Would I enjoy group coaching?
Regular access to a professional coach with world-class experience, plus the support of a small group of successful business people can be instrumental in your future success.
Be sure you are comfortable in a team setting – peer-to-peer mentorship means an environment in which business owners support one another to learn new ways of doing business and holding one another accountable to implement improvements in their individual operations.
Discovering your personal behavioural style will help you get a handle on how reserved or outgoing you may be, how you relate to others, and how to find an approach that will suit you best. There are various tests your coach can arrange for you. Free-flowing, ‘Mastermind’-type groups focus on accountability, while a more structured syllabus-based approach will place the focus more on education and skills.
Lastly – the opportunities created by COVID-19 and lockdown
While I have been coaching my remote one-to-one clients for over a decade, group coaching has always been facilitated in person. Global events over the last 6 months have forced our group coaching into the virtual space and we have been astonished at the efficacy of this.
Diary management becomes easier as geography is no longer an issue and we have more flexibility in partnering the right people together. By leveraging video platforms like Zoom, Teams and Hangouts – plus screen sharing, collaborating on documents and spreadsheets in real-time, productivity and what can be achieved in any one session is far higher too.
If the above has piqued your interest, do your research and approach a couple of business coaches that have a background that looks right to you. Most professional coaches have a take-on process (usually at no charge) that will help you answer the above questions and more, with a view to determining a fit between you and the coach, as well as the coaching approach that will suit you best.
Trevor Clark – business and executive coach, speaker and global trainer
031 266 2258 | trevorclark.actioncoach.com | firstname.lastname@example.org