Are You Weighing Opportunity and Risk? By Marshall Goldsmith To...
I always use the same proven process. At the beginning of any coaching relationship, I get an agreement with my coaching clients and their managers on two key variables:
Then I get paid only after my coaching clients have achieved positive change in key leadership behaviors and become more effective leaders. Unlike many other coaches, I do not get paid if my clients do not get better. And, as noted above, better is not determined by me, it is not determined by my clients, it is determined by my client’s key stakeholders. It is in this “pay-for-results” fee arrangement that I truly stand out from other coaches.
Paying only for results is a good way to test if someone really believes what they’re teaching you. Ask them one question, “Do you want to bet on it?” If they say, “I believe it but I wouldn’t bet on it,” they don’t believe it that much. If they say, “Here’s the money,” they believe it! My coaching process is based on something I believe in and I bet on it every time!
Many coaches are paid for the wrong reasons. Their income is a largely a function of “How much do my clients like me?” and “How much time did I spend in coaching?” Neither of these is a good metric for achieving a positive, long-term change in behavior.
In terms of liking the coach, I have never seen a study that showed that clients’ love of a coach was highly correlated with their change in behavior. In fact, if coaches become too concerned with being loved by their clients. They may not provide honest feedback when it is needed.
In terms of spending clients’ time — my coaching clients’ are all executives whose decisions impact billions of dollars — their time is more valuable than mine. I try to spend as little of their time as necessary to achieve the desired results. The last thing they need is for me to waste their time!
How do you stand out? What makes you special? What are you willing to bet on? I’d love to hear your thoughts and ideas. Please send me a message on LinkedIn! I am looking forward to your comments.