If you're here, you're thinking about hiring a coach.
As a founder, how do you decide:
- If you need a coach?
- What kind of coach you should work with?
- How to find the right coach?
After interviewing over 1,600 executive coaches and performance psychologists, and matching dozens of Series A to C founders to one of the 48 coaches in our network, we've learned what it takes for founders to find and engage the right coach, and our goal here is to share those insights with you in a step-by-step guide.
The Process of Finding a Coach
The 8 Steps are:
- Define what you want
- Determine if you need a coach or something else
- Identify the type of coach you need
- Get introductions
- Vet your options
- Choose the best fit
- Structure a deal
- Start the engagement
Step 7: Structure a Deal
Before finalizing your decision, make sure you understand the cost and structure of the engagement. Here are some common standards:
- Cost: Top coaches usually work on a monthly retainer basis, with fees ranging from $1,000 to $10,000 per month, or $500 to $5,000 per hour.
- Frequency of Sessions: Most coaching setups involve two one-on-one sessions per month, each lasting between 60 to 90 minutes.
- Support Between Sessions: Coaches who charge a monthly retainer often provide additional support via calls, texts, or emails as needed between scheduled sessions.
- 360 Process: Many coaches begin their work with a 360 assessment, gathering feedback from people around you—such as peers, direct reports, investors, and mentors—to inform the coaching process.
More on Session Frequency
The length of coaching sessions can vary based on:
- Client Needs and Goals: The complexity and scope of what you want to achieve can influence session length. For instance, if you're tackling a broad, multifaceted goal or dealing with deep-seated issues, longer sessions might be necessary to explore and address these thoroughly. Conversely, if the focus is on quick check-ins or specific updates, shorter sessions may suffice.
- Coaching Focus: The specific focus of the coaching can impact how long each session needs to be. For example:
- Strategic Planning: Sessions dedicated to detailed strategic planning or problem-solving might be longer, as they require in-depth analysis and discussion.
- Skill Development: Sessions focused on developing specific skills or reviewing progress on particular tasks might be shorter and more focused.
- Coach’s Approach and Methodology: Different coaches have varied styles and methods. Some coaches prefer extended sessions to allow ample time for reflection, feedback, and discussion. Others may opt for shorter, more frequent sessions to keep momentum and address issues in a more agile manner.
- Client Preferences and Availability: The client’s schedule and preference also play a role. Some clients might prefer longer, less frequent sessions to fit their busy schedules, while others might opt for shorter, more frequent meetings to stay engaged and maintain progress.
- Stage of Coaching Engagement: Session length can evolve throughout the coaching relationship:
- Initial Phase: The early stages might involve longer sessions to establish goals, understand the client’s background, and develop a tailored plan.
- Ongoing Coaching: Later sessions may be shorter as the focus shifts to monitoring progress, making adjustments, and addressing specific issues as they arise.
- Type of Coaching: The nature of the coaching itself can dictate session length:
- Executive Coaching: Often involves longer sessions due to the complex nature of leadership challenges and organizational dynamics.
- Performance Coaching: Typically involves more frequent, shorter sessions focused on specific performance metrics or behaviors.
- Session Structure: Some sessions might include time for pre-session preparation or post-session follow-ups, which can also affect the overall length. For example, a session that includes a detailed review of pre-session materials or assignments might be longer.
More on In-Between Support
In-between support for coaching typically involves the additional assistance and resources a coach provides outside of the scheduled sessions. This can include:
- Email and Phone Support: Coaches may be available for brief consultations or to answer questions via email or phone between sessions. This helps address urgent issues or provide quick guidance.
- Text Messaging: Some coaches offer support through text messages for real-time advice or encouragement.
- Homework and Assignments: Coaches often give assignments or tasks to complete between sessions. This might include reflections, exercises, or action items to work on.
- Progress Check-ins: Periodic updates or check-ins might be scheduled to review progress on goals, address any new challenges, and adjust the coaching plan if needed.
- Resource Sharing: Coaches may provide additional resources such as articles, tools, frameworks, or reading materials relevant to the coaching topics.
- Feedback and Reflection: Coaches might offer feedback on any work or reflections you’ve submitted between sessions, helping you integrate new insights and strategies.
- Emergency Support: In some cases, coaches might offer emergency support for urgent issues that arise between scheduled sessions.
More on the 360 Process
The coaching 360 process, often referred to as a 360-degree feedback process, involves gathering comprehensive feedback about a client from a range of sources to provide a well-rounded view of their strengths and areas for development. Here’s what it typically entails:
- Identification of Feedback Sources: The coach and client identify key individuals who can provide valuable insights. These sources often include:
- Peers: Colleagues at a similar level within the organization.
- Direct Reports: Team members who report directly to the client.
- Supervisors: Managers or leaders who oversee the client.
- Mentors or Advisors: External mentors or advisors who have observed the client’s work.
- Feedback Collection: The coach uses various methods to collect feedback, such as:
- Surveys: Structured questionnaires are distributed to the identified feedback sources to gather quantitative and qualitative data.
- Interviews: Direct, one-on-one interviews with the feedback sources to gain deeper insights.
- Focus Groups: Group discussions with multiple feedback sources to explore common themes and perspectives.
- Data Analysis: The collected feedback is analyzed to identify patterns, strengths, and areas for improvement. This analysis helps in understanding how the client is perceived by others in different contexts.
- Feedback Report: A comprehensive report is compiled, summarizing the feedback. This report typically includes:
- Strengths: Areas where the client is performing well.
- Development Areas: Aspects where the client could improve.
- Comparative Analysis: Insights into how the client’s self-perception aligns with others' perceptions.
- Review and Discussion: The coach and client review the feedback report together. This discussion focuses on:
- Key Insights: Major takeaways from the feedback.
- Action Plan: Developing a plan to leverage strengths and address development areas.
- Goal Setting: Setting specific, actionable goals based on the feedback.
- Follow-Up: The coach and client monitor progress on the action plan and goals. Additional feedback may be gathered periodically to assess improvements and adjust strategies as needed.
What’s next
By understanding these factors, you can make an informed decision that aligns with your budget, time commitments, and support requirements, ultimately leading to a more effective and tailored coaching relationship.
What is holding you and your company back from the next stage of growth?
Apply to become a part of Titan’s next monthly cohort here: https://www.withtitan.com/apply
