As coaches, we believe in the Golden Rule, and trust others to do the same. However, when it comes to money, people can get a little "funny."

Coaching contracts can take the guesswork out of the exchange of your client’s investment for your career coaching services. When you set up and follow a consistent payment policy, your clients will always know where they stand; they will be able to budget accordingly for their coaching investment with you.

Actually, a career coaching agreement is a good idea for more than just the exchange of money for services. In my career coaching agreement, I outline my expectations of my client. Here are some of the points I cover:

• Clients will call me for their coaching appointments.
• Clients will call on-time.
• If clients miss their scheduled session without notice, they will lose that session and be billed for it anyway.

I list other expectations, too, and ask that clients sign in agreement before we begin coaching. The contract approach may appear cold on the surface, but in reality, a contract helps cement the client’s commitment to the coaching process.

What do you include in your coaching agreement? I’m interested in your reply.

Happy International Coaching Week! What are you doing to celebrate this annual event? What special thing can you do to honor your clients?

ICF (International Coach Federation) is releasing its global survey results this week. Here a few facts to whet your appetite:

• The approximate annual worldwide revenue produced by coaching is $1.5 billion (USD).
• The average coach is 46-55 years old, has coached for 5-10 years, and 53 percent of coaches have acquired an advanced level of education (i.e., Master’s Degree or Ph.D).
• Coaches earn an average of $50,510 (USD) per year.
• Coaching clients tend to be 56 percent female/44 percent male, and between 38 and 45 years of age.

More to come about this survey once the whole document is released. For now, I’m interested in your reaction to the above information. Your comments are welcome here.

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