As 2019 quickly approaches, I’ve been having conversations with people who are looking at getting some support to grow their business. A number have asked me, “What do you think is the best option?”
In general, there are 3 main types of ongoing business coaching options:
- Large group or membership community. These tend to have between 30 – 300 members (online courses can get much larger), have video or guidebook teaching segments, meet 1x month for Q & A, and sometimes include an accountability buddy. The cost is often in the range of $50-$150 per month. This is a good option for someone who’s just getting started, doesn’t have many (or any) paying clients, and doesn’t know much about marketing or business development.
- Small or mastermind group programs. These tend to have between 6 -12 members. They meet 2-4 times per month, so there’s more individualized support and feedback. The cost is typically in the $200 – 500 per month range, although for very well know coaches the cost can be much higher. Spoiler alert, this is my recommendation for most businesses that have some ongoing revenue but aren’t yet thriving. (Best choice for the most people)
- Individual coaching. Typically in a 1-1 business coaching contract, the coach and client agree to meet for 2 sessions per month for a time frame of 6 months. The cost is typically in the $500 – 2000 per month range, although again very well known coaches charge much, much more. I think this is the best option for people who either a) have a good roster of 1-1 clients and want to grow their more leveraged offerings or b) come to their business with significant resources from another source (like a previous career) and want to grow their business more quickly.
This is by no means an exhaustive list of all the ways conscious business owners get support to grow their businesses. And, in terms of ongoing support, these are the 3 options that are the most common in the industry.
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