Executive coaching services: Nail your high stakes moments
Published on October 20, 2023
You’re 30 seconds from taking the stage in front of 5,000 people to unveil your latest product. If it goes well, the publicity could generate millions of dollars in revenue and solidify your organization’s reputation as a market leader.
Or what about this…
Your sales team didn’t hit their target for the quarter. In fact, they didn’t even come close. The board is upset, and they’ve asked you, the new Chief Revenue Officer, to explain the poor performance.
What do these two scenarios have in common? If you answered, “They both would make me nauseous,” you’re close! In both scenarios, the stakes are high. There’s something to be gained or something to be lost. And what raises the stakes even higher, is that most people have rarely been taught how to approach high stakes moments as a communicator. This is where executive coaching services provide value to leaders.
With the help of an experienced executive coach, you can identify areas for growth, set goals, and create strategies for achieving them. But selecting a coaching service can be difficult. It’s important to consider the background and experience of the executive coach as well as what’s included in their services. In this blog, we will discuss executive coaching services and how they can benefit you and your organization. We will also cover what to look for when selecting an executive coaching service as well as typical pricing ranges.
What are executive coaching services?
An executive coaching service is a company or consultant that provides C-Suite level coaching for potential skills gaps that a leader may face. Whether they are newly promoted leaders, need to support continual success, address blind spots in their behaviors, executive coaching can provide fast and lasting results for organizational leaders.
They’re typically innovative and are focused on helping the C-suite rise to the nuanced challenges of today, and should have a highly tailored approach.
The 3 different goals of executive coaching services
There are 3 different goals of executive coaching services. Let’s dive in!
1. Maximize their strengths
First, executive coaching provides fresh insights and perspectives that help the executive move from good to great. The reality is that most executives are good communicators. It’s difficult to get to that place in your career if you’re not. So, the goal of executive coaching is not to teach someone the basics of communication. The goal is to identify what makes the executive unique, maximize their strengths, and minimize their weaknesses.
2. Develop new skills
Second, executive coaching services help executives develop new skills. This is especially important for new executives. It’s common to see new executives receive an invitation to the C-Suite for a skill that is different than the skills required to function in an executive role.
For instance, an executive may get promoted because they’re highly skilled at financial modeling or software development. But now they’re expected to speak at conferences, present on investor calls, and partake in media interviews. For a lot of new executives, that can be intimidating. Executive coaches come alongside the leader to teach new skills that may be required in their new role.
3. Personalized development
Third, executive coaching services provide a unique level of personalized development. In contrast to speaker coaching workshops, coaching services are designed to meet the individual needs of each client. Executive coaches work with clients to create personalized plans that help them reach their desired outcomes. Coaches also help individuals monitor their progress towards these goals, offering encouragement when needed and providing valuable feedback that can help improve performance.
How does an executive coaching service help leaders and their organization?
One of the biggest benefits of an executive coach is their ability to say things the executive’s staff can’t. So much of an executive coach’s role is to provide candid feedback. And when that candid feedback is negative, it’s challenging for a member of the executive’s team to feel the freedom to speak up when their paycheck hangs in the balance.
This is both helpful for the executive’s team (who will gladly outsource critique), but it’s helpful for the executive as well. So often, executives are surrounded by “yes” people. They don’t necessarily seek it out or build a team that way, but it happens, nonetheless. When executives don’t regularly receive honest feedback, the executive misses out on insights that can transform the way they lead, and the organization suffers.
What should someone look for when selecting an executive and leadership coaching service?
People are quick to look to logos because logos are impressive. But you should factor in longevity in addition to logos. It’s one thing to have worked with a big brand once. It’s another to work with big brands for decades. So, if you’re looking for an executive coaching service, make sure to ask:
- “Who have you worked with?” and,
- “How long have you worked with them?”
You can tell a lot about the quality of a coaching service based on their longevity.
When selecting an executive and leadership coaching service, it’s also important to consider the background and experience of the executive coach. This should include:
- Their qualifications
- And any results they have achieved with previous clients
Sometimes reviewing their experience will unearth things like certifications in other related fields such as psychology or management. This will give you a better picture of their knowledge and expertise.
It is also important to look into the approach and methodology used by the executive coach, as this will determine what kind of results can be expected from their services.
What are typical executive coaching services pricing and their ranges?
When it comes to investing in executive coaching services, there is no one-size-fits-all solution. The executive coaching services pricing may vary depending on the provider, scope of work, and desired outcomes. If a coach charges by the hour, it could range from $100 per hour (on the low end) to $1500 per hour (on the high end). Others offer packages where you can buy several sessions for a set fee.
A basic package may include an initial assessment followed by a series of 50-minute sessions. On the other hand, more comprehensive packages may include regular check-ins between scheduled sessions as well as additional executive coaching services, such as goal setting and action planning. Some providers may also offer workshops or training programs in addition to their executive coaching services.
Another form of coaching is on-site coaching for an event. This would include the coach joining the executive at the event for rehearsals, tech checks, and last-minute content changes. While on-site services tend to be more expensive due to travel and lodging, they can provide tremendous value by teaching speakers to navigate unfamiliar spaces and functioning as a liaison between the executive team and the production team.
It’s important to understand that different coaches specialize in different areas, so it’s best to find someone with expertise in your specific area of interest or need. After scouting an executive coach, you should conduct an initial consultation session where you can get a better understanding of what they can offer you in terms of support and guidance. The coach you pay for should always fit for your needs.
Executive coaching services for today’s challenges
Having a clear idea of what you want out of working with an executive coach will help make sure that you invest wisely in a program that pays off in terms of improved performance during high stakes moments. To maximize the value for money spent on coaching services, individuals should take time to research and select their preferred provider carefully before making any commitments. Doing this ensures that the investment results in greater success when facing challenging situations.
If you’re in need of change communications support, or would like to learn about our Speaker Coaching offering for your next big keynote, we can help. For over 30+ years, Duarte has been helping Fortune 100 companies like Apple, Salesforce, VMWare, and others with their executive leadership challenges. Whether it’s running their keynotes, or planning out their annual conferences, we can help.
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