Hey

Do you know how much time I spend coaching as a full-time coach? 30% of it. I've been tracking this for over two years now and my research is clear: the time I spend engaged in client-facing activities is only about a third of the time I spend on my business in general.

Does this surprise you? It surprises most new coaches I talk to, but they don't need to take my word for it. The 2020 ICF Coaching Study reveals a similar statistic - the respondents spent about 26.7% of their time coaching in 2019 when the survey was conducted.

OK, they don't reveal it outright. But if you know your way with numbers and like to geek out on them as I do, you'll be able to figure it out by yourself following a few calculations. Or, you can trust me. I'm an accountant 😁.

Anyway, the point of this email is not to flex my number-crunching muscles, but rather to draw your attention to how this percentage affects you and your business if you're a coach who does mostly 1:1 coaching. In particular, how it influences your prices.

The revenue you receive for the 30% you spend coaching needs to compensate you for 100% of your work.

A lot of the coaches I work with set their prices on a per hour or per session basis and calculate their potential revenue based on working 40 hours per week. They believe that when they will have a fully-booked practice they will make in a week whatever price they charge per hour multiplied by 40 hours.

When I tell them they should only multiply by 12, the penny drops! They will NEVER be able to reach their financial goals with those prices, not even with a full practice. And that is when the real work begins.

I talk more about pricing and other important aspects of building a financially viable coaching business in the upcoming course I'll be delivering in partnership with Grow Development Solutions.

Early bird tickets are still available and if you register your interest here you will receive more information and a 10% off coupon. We start on the 30th of April and I'd love to have you there.

Take care and speak soon.

Alisa