What an Executive Leadership Coach at HED Space Coaching Wishes They Had Known Before Entering the Coaching Industry
Regarding executive coaching, a key lesson learned is that the income potential is virtually unlimited, "name your price," based on the perceived value brought to clients struggling with solvable problems. The ease of solution for the coach contrasts sharply with the client's difficulty, highlighting the coach's specialized skills and the significant return on investment for clients.
Executive/Leadership, Compensation, Confidence, Negotiation, Overcoming Challenges
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Cheddy Matthews
Executive Leadership Coach
HED Space Coaching
NC State University 2000
UCLA EMBA 2024
Political Science, American Studies
Coaching, Speaking & Writing
Strategic Management and Executive
Disabled, Worked 20+ Hours in School, Veteran, Student Athlete, First Generation College Student
Video Highlights
1. The earning potential in executive coaching is highly variable and depends on the coach's self-worth, confidence, and the value they bring to clients.
2. Executive coaching often involves helping clients overcome challenges that seem easy to the coach but are difficult for the client; this highlights the value of the coach's skills and experience.
3. Coaches should have confidence in their abilities and charge accordingly, as clients are willing to pay for the value they receive in overcoming their challenges
Transcript
What have you learned about being an executive coach that you wish someone told you before you started?
Before I started, I was told something important about this industry. The upside is that there is no upside limit. It's like "The Price is Right" – you name your price.
You charge based on what your clients are willing to pay for a certain value. If you believe that value is $400, that's what you'll charge. If you think it's $1,400 or $4,000, that's what you'll charge.
I know coaches making $40,000. Whatever it is, you name your price. Your price is based on your confidence, your sense of self-worth, and the value you know you bring to the interaction.
There are people willing to pay you to help them get out of their current situation. For you, it might be easy. You might see a fix in 20 minutes, but the client needs six months of your help.
If it were easy for them, you wouldn't have a job. You realize you have a gift, training, and specific skills that the person needs right now. Once you know that, aim your price. Name your place.