Over the last few years, we’ve been asked HUNDREDS of questions regarding the significant and sustainable growth of both business and business owner.
Here, we’ve tried to catalogue as many of those questions as possible, as we believe that for everyone that has asked, there must be at least a dozen more than have thought, but not asked, and many more who haven’t even yet stopped to think!
Fee / Investment Questions (6)
If this is the first question, you may well not really be ready to join a Mastermind. You see, Mastermind is NOT a cost, but an investment.
I promise, I’ll answer your question, however, for one minute, just imagine your business 1 year from now, having had the help, guidance, support, encouragement, and accountability provided by a dedicated team of ‘non-exec’s within your business.
A team as dedicated as you to the significant and sustainable growth of both you and your business, who have committed to helping you achieve bigger goals than you have ever previously considered. And, who have a proven record of delivering on their promises!
Now consider how much you may have to invest for this level of engagement. To advertise, interview, recruit, train, salary, provide the perks and benefits (holidays, car, phone, laptop, memberships etc) associated with a role of such importance.
In this sense, to achieve this WITHIN your business is likely to be a sizeable 6 figure investment right?
In which case the investment of a Mastermind is a FRACTION of what it might otherwise cost to benefit from this level of help and support!
Whilst there are some Business Mastermind groups that charge hundreds of thousands of dollars to join, and many others that charge multiples of tens of thousands of dollars entry.
As My TrueNORTH is recognised as the UK’s leading Ethical Coaching Company, we have carefully considered the level of investment required to join our #ADDAZERO Explorer Mastermind. Too much and it only attracts those already doing exceptionally well. Too little and it attracts Tire kickers who want to claim to being a member, but not willing to do the work! Our Explorer is therefore priced around the cost of a P/T member of staff.
Maybe more a statement than a question, but it’s something I hear from time to time. It’s said in such a way that they are hoping you’ll say “Oh, go on then I’ll work with you for free!” and the simple fact is: NOBODY VALUES FREE! We’ve worked hard to provide an exceptionally valuable service at every level of coaching we offer, starting from less than £50pcm. For those who still claim they can’t afford it, the fact is they were never going to afford it anyway. They fail to see the value in the investment and see it as a cost, not an investment.
I’m not going to be rude and arrogant enough to say “You can’t afford not to” simply because I shouldn’t need to convince them. The fact is, with 2 global awards and listed on the ‘Clear Business Thinking’ POWER 100 many others have clearly seen the value we offer and recognised us accordingly. Until people see it as an investment, they will never act on anything we advise as anything other than a cost!
We may not be asked this quite as frequently, but it only goes to reason that if some consider us expensive, others see the immense value we provide and wonder “Where’s the catch?” The simple fact is, there isn’t one. We pride ourselves on being the UK’s leading Ethical Coaching Company, it’s not just what but WHY we are. Too cheap and you attract the wrong type of people who continually want more and more and more in return for doing less and less and less. Too expensive and your only available to the most wealth with whom don’t recognise the true value you provide, therefore being proactive and offering a variety of coaching options and payment plans enable you to choose whichever you feel is right for you.
We have a good mix of options available, that most business owners will see and benefit from.
From time to time we do have prospects ask this question, and I usually reply by asking “Compared to what?…”
You see, as you’ll see from my first answer in this section “How much does coaching cost?” If people have a concern regarding the level of investment we request from clients for working with them, they may not yet be ready for all the value, help, support and accountability that comes with all of our coachings.
However, IF people need to understand our payment structure in more detail, I’ll share this with them:
1. You are not simply paying for the time I spend with you, but contributing to all the time it has taken to accumulate the level, depth, and breadth of knowledge I have in being able to offer the guidance and advice that I do. (and 2 Global ‘Big Impact to Business’ Awards suggests this may well be advice worth listening to)
2. The investment you make in coaching through My TrueNORTH is most likely (if you implement your new found learning) to be transformational for you and your business. I’ve got reams and reams of examples where 1 coaching session has either generated or saved tens of thousands of pounds not just once, but continually. I certainly know with some certainty that if I charged based on results rather than time, I’d have FAR more in the bank that we do at present!
3. And this is most important: Our rates are ALL INCLUSIVE. Unlike many other businesses, that advertise one price, but then add a gzillion other things on top (Just think of your last flight: The seat cost £2.99 but choosing the seat, taking luggage, ordering food, paying taxes were all added afterwards resulting in your £147.98 total cost) our pricing is transparent and covers the entire investment (as a B2B seller, we HAVE to show +VAT rather than build that in also, so you know which element is TAX) but includes all coaching, and where applicable all training booklets and materials, room hire, overnight accommodation, refreshments EVERYTHING. Just one investment and everything else is included.
Yes. The majority of our services have a variety of payment options making them as affordable as possible to all.
These are as follows: 1 off interventions: FULL PAYMENT at time of booking to receive our most cost-effective quote for the work to be bespoke to you and your requirements If FULL PAYMENT at time of booking is not possible, a 10% deposit taken at time of booking, and FULL PAYMENT to be paid by invoice a minimum of 14 days prior to intervention.
If FULL PAYMENT is not possible until AFTER the INTERVENTION, 30% deposit taken at the time of booking, and FULL PAYMENT to be paid by invoice within 7 days or intervention taking place.
For coaching programs
ANNUAL MEMBERSHIP: a One-off annual investment is always the most cost-effective method of working with us, and will save you 20% of our already highly competitive level of investment.
QUARTERLY PAYMENTS: Prefer to split the payments in 4? Not a problem, pay a small deposit initially and we’ll split the remainder over 4 equal quarterly payments, saving you 10% of our already highly competitive level of investment.
MONTHLY PAYMENTS: Prefer to pay monthly? Not a problem either, pay a small deposit initially and we’ll split the remainder over 11 equal monthly payments, at our already highly competitive level of investment.
Our preferred method of payment is via Direct Debit. However, we also welcome investments via BACS, Credit/Debit Card and even via PayPal!
If this is your FIRST question, then your probably not yet ready for coaching! You see, coaching isn’t a cost!… well, not if its done well. Good coaching is an investment, and possibly the most cost-effective ways of growing both you and your business.
I recall, a long time ago now, when I first heard the expression “The most expensive advice you’ll ever take, is that given for free!” I didn’t really understand it at first until I’d acted upon advice ‘given for free’ only to realise how poor the quality of advice actually was and how costly it had proven to both me and my business! However, the same doesn’t always follow suit with how MUCH the advice costs.
I’ve been in conferences around the world where the presenter has charged $50,000, $75,000 even $100,000 for 1 day of their time! and I’ve always wondered WHAT value they can actually bring IN ONE DAY that is worth SUCH an investment?
Personally, I’m of the opinion there has to be a middle ground, and I think the ‘sweet spot’ is as long as both coach and client are more than happy with the exchange in value then it’s a fair exchange. To answer your question in terms of our services, we have a range of services specifically designed to enable business owners from every stage of the setup, establish, scale and exit phase to gain real value from our help and support.
Our services range in level of investment from less than £50pcm to over £2,500pcm. Perhaps a better question might be, what level of investment is required to enable me to achieve the results I am looking for?…