How to Determine Value for Services – Part 2


mentoring 2

Last week, we gave some general understanding of mentoring, consulting and coaching and how these three services were different and yet, in some ways similar. Regardless of whether the business is using a mentor, consultant or coach, all will require both time and money. Therefore the first point to reconcile ourselves with is the value of these services. Without value, these services are just another “smoke and mirrors” or “snake oil” game.

In order to be cost effective, the activity must prove itself to either save time or money or both as one can impact the other. The improvements to the business, the progress to the current goal must be real and not imaginary. It will take time for the business to realize improvement as their appearance may remain subtle, especially in the beginning. The mentor, consultant or coach, and the business must work together as a team to establish benchmarks which will allow a continuous monitoring of the progress toward the current goal.

Another critical area the business, the owner or, the management team must be willing to do is to “Listen” to the mentor, consultant or coach. To “Listen” does not mean to give in without question. It means simply what it says; to “Listen.” With the understanding that the business does not belong to the mentor, consultant or coach, open and free dialogue between all involved will mean the difference between success or failure, between valuable services performed or a waste of time and resources. Dialogue must be open, honest, and not competitive. To be successful, the relationship and actions between the parties, and to repeat myself, must be as a team. There can be no secrets or withholding of information that pertains to achieving the goal.

Next week, we will learn what should be expected from a coach and how to valuing their services.