Common Mistakes New Executive Coaches Make

Mistake 1: Pricing Like a Life Coach

You're not a life coach. You're an executive coach—there's a big difference, especially when it comes to pricing. Executive coaches command higher rates due to the value they provide in corporate settings. While life coaches might charge $75-150 per hour, executive coaching fees should reflect the business outcomes you facilitate. A typical range for new executive coaches starts at $200-400 per hour, climbing to $600-1,200 for seasoned experts with a solid track record.

Why Pricing Matters

Your pricing communicates your value. If you're charging life coach rates, corporate clients may not take your services seriously. They expect to pay more for executive coaching, associating higher fees with higher quality and expertise. Position yourself as a premium service provider from the start.

Actionable Steps for Setting Your Price

• Research Market Rates: Check out resources like our "Executive Coaching Rates: What to Charge in 2026" to find the current standard.
• Consider Your Experience: If you're new, start on the lower end but avoid going below $200 per hour.
• Value-Based Pricing: Price based on the value you deliver, not just your time. Consider retainer agreements for ongoing engagements.

Bottom line: Your pricing should reflect your expertise and the impact you have on your clients' businesses.

Mistake 2: Skipping the Business Case

You can't just rely on your coaching skills; you need to build a strong business case for your services. Companies look for measurable ROI when hiring executive coaches. Simply promising personal development isn't enough. They want to understand how your coaching will translate into tangible business benefits like increased productivity, leadership effectiveness, and improved team dynamics.

Building a Strong Business Case

1. Define Clear Objectives: Start each engagement by setting specific business goals with your client. This could be anything from reducing turnover rates to achieving faster project completion times.

2. Connect Coaching to Outcomes: Identify which KPIs your coaching can impact. This might include sales growth, employee retention, or customer satisfaction scores.

3. Present Evidence: Use case studies and testimonials from past clients to demonstrate your effectiveness. If you're just starting, hypothetical scenarios based on industry standards can help.

Example Scenario

For example, a coach specializing in leadership development might focus on decreasing the time it takes for new leaders to reach full productivity. By connecting coaching sessions to this specific business outcome, you create a compelling reason for companies to invest in your services.

Mistake 3: Not Understanding Corporate Buying

Corporates buy differently. They often have procurement processes, budgets, and committees that influence purchasing decisions. If you're new to the corporate world, this can be intimidating. However, understanding how these processes work is crucial for landing long-term clients.

Navigating Corporate Buying Processes

• Know Your Contacts: Identify decision-makers, influencers, and gatekeepers within the organization. Build relationships with each.

• Tailor Your Proposals: Customize your coaching solutions to align with the company's strategic objectives. Generic proposals rarely get past the first round.

• Understand Budgets: Timing matters. Align your pitch with the company's budget cycle to increase your chances of approval.

Real-World Insight

Consider a large tech company that requires a six-month lead time for budget approvals. As an executive coach, you'll need to plan your engagements well in advance and maintain consistent communication with key stakeholders throughout the process.

When you're ready to streamline your business operations, Talkspresso provides the tools you need—video calls, scheduling, and payment processing all in one place. It's the platform that supports your coaching practice seamlessly. Set up your Talkspresso profile with your services, pricing, and availability.

Mistake 4: Too Much Advice, Not Enough Coaching

Executive coaching isn't about telling clients what to do. It's about guiding them to find their own solutions. Many new coaches fall into the trap of giving advice rather than facilitating discovery. Remember, your role is to empower executives to leverage their own insights and make informed decisions.

Balancing Advice with Coaching

1. Ask, Don't Tell: Use open-ended questions to encourage self-reflection and exploration. Questions like "What would happen if...?" or "How might you approach this differently?" can unlock valuable insights.

2. Active Listening: Focus on truly understanding the client's perspective. Validate their experiences and challenge assumptions without imposing your own agenda.

3. Facilitate Self-Discovery: Guide clients to set their own goals and develop personalized action plans. Your expertise should support, not overshadow, their development process.

Scenario

Imagine you're coaching a CEO who struggles with delegating tasks. Instead of advising them on delegation strategies, guide them through a process of evaluating their current workload, identifying potential delegatables, and experimenting with different delegation techniques in a way that suits their leadership style.

Mistake 5: Ignoring Stakeholders

Executive coaching often involves multiple stakeholders, not just the person you're coaching. Ignoring the broader organizational context can limit the effectiveness of your coaching and lead to dissatisfaction among key players.

Engage All Relevant Stakeholders

• Identify Stakeholders: Determine who else is invested in the coaching outcomes. This could include HR, direct reports, or other executives.

• Communicate Clearly: Set expectations with stakeholders from the beginning. Regular check-ins can ensure alignment and address any concerns early.

• Incorporate Feedback: Use stakeholder input to refine your approach and enhance the coaching experience.

Example

For instance, if you're working with a VP of Sales, you might also engage their sales team to gather insights on how the VP's leadership impacts their work. This feedback can inform your coaching sessions and ensure the VP is making meaningful changes that resonate across the team.

Mistake 6: No Measurement Framework

Without a solid measurement framework, it's challenging to demonstrate the impact of your coaching. This can lead to skepticism about the value of your services and difficulty securing repeat engagements.

Establishing a Measurement Framework

1. Set Clear Metrics: Define what success looks like for both the individual and the organization. Metrics could include leadership competency scores, employee engagement levels, or project delivery timelines.

2. Collect Data Consistently: Use surveys, performance reviews, and other tools to gather data before, during, and after the coaching engagement.

3. Analyze and Adjust: Review the data regularly to assess progress and make necessary adjustments to your coaching strategy.

Practical Application

Imagine you're coaching a team leader aiming to improve team morale. You might use a pre-coaching survey to assess current morale levels, track changes through regular check-ins, and evaluate the overall impact at the end of the engagement. Having quantifiable data not only proves your value but also helps refine your methods for future clients.

Mistake 7: Not Building Thought Leadership

As an executive coach, establishing yourself as a thought leader in your niche is critical. This not only enhances your credibility but also attracts more clients and opportunities.

Steps to Build Thought Leadership

• Publish Content: Regularly share insights and perspectives through blog posts, articles, or social media. This keeps you top-of-mind and showcases your expertise.

• Speak at Events: Attend industry conferences and offer to speak on panels or lead workshops. This positions you as a go-to expert in your field.

• Engage with Peers: Collaborate with other professionals and participate in online forums or groups to broaden your network and visibility.

Real-World Example

Consider a coach who specializes in technology leadership. By publishing a well-researched article on the future of AI in leadership on LinkedIn, they not only gain attention from potential clients but also attract speaking opportunities at tech conferences. This cycle of exposure builds a reputation that commands higher fees and longer engagements.

What Successful Executive Coaches Do Differently

Successful executive coaches distinguish themselves by consistently delivering value and building strong relationships with clients and stakeholders. They focus on continuous learning, adapt to changing business environments, and maintain a results-oriented approach.

Key Practices of Top Coaches

1. Continuous Learning: Stay abreast of industry trends, leadership theories, and new coaching methodologies. This ensures your practice remains relevant and effective.

2. Client-Centric Approach: Tailor your coaching to meet the unique needs of each client while maintaining a focus on achieving tangible business outcomes.

3. Strong Relationships: Foster trust and open communication with clients and stakeholders, ensuring alignment and facilitating successful coaching engagements.

Implementing These Practices

For example, a coach who regularly updates their knowledge on digital transformation can offer relevant insights to clients in tech industries. By aligning their coaching with the client's strategic goals, they not only meet but exceed expectations, leading to long-term partnerships.

Ready to streamline your executive coaching practice? Talkspresso simplifies your business with integrated video calls, scheduling, payments, and digital product sales. Create your free page today and start focusing on what you do best—coaching.

Frequently Asked Questions

How do I set my executive coaching rates?

Determine your rates based on your experience, the value you provide, and market standards. A typical range is $200-400 per hour for new coaches, scaling up to $600-1,200 for experienced professionals.

How can I demonstrate the ROI of my coaching services?

Set clear objectives and metrics at the start of each engagement. Use data from surveys, performance reviews, and KPIs to track progress and show tangible results.

What are the key differences between life coaching and executive coaching?

Executive coaching focuses on leadership development and business outcomes in corporate settings, often involving higher stakes and more complex organizational dynamics than life coaching.

How do I build a thought leadership presence as an executive coach?

Share your expertise through content, speaking engagements, and peer collaboration. Consistent, insightful contributions to your field will establish you as a recognized authority.