Ad-Hoc Budget Coaching

As a coach with MyBudgetCoach, you are part of an expanding type of budget coaching, the Ad-Hoc Budget Coach. Traditional Budget Coaches generally require new clients to purchase a series of sessions upfront and the client works through the coach's created program. The table below defines some differences with coaching a client using the Ad-Hoc Coaching method as a coach with MyBudgetCoach compared to the Traditional Coaching method.

Area of Coaching	Traditional	Ad-Hoc
Number of Sessions	Minimum number required	No minimum requirement
Paying for Sessions	Upfront payment, or monthly installments	Each session billed separately
Contract	Lengthy contract with many clauses to outline expectations of program and guarantees for client and coach.	Likely a streamlined contract which covers privacy and confidentiality for one session.
Expectations for Client	Coach works with client in defined parameters of the coach's program.	Client drives the discussion topics, and coach supports and calls out concerns in software use or budgeting methodology.
Pitching to Client	Coach sells a multiple session commitment with accountability expectations.	Not applicable; Client selects coach and chooses when to meet.
Administrative Time Before Session	Review of prior meeting minutes, creation of agenda, and invoicing.	Invoicing and the review of Messages to research progress on conversation.
Administrative Time After Session	Sending meeting minutes and action items, continuous monitoring/reminders of use of sessions, and review of status of client completing action items.	Archiving of meeting minutes and completing agreed upon follow-ups.
Client Benefits	Accountability partner, paying upfront drives motivation, and coach leads documentation of progress.	Access to accountability partner and budget coach at a fraction of the cost. No requirement to meet. Client has unique access to coach via Messages. Client can select from a range of coaches.
Coach Benefits	Predictable client time and income. Ongoing relationship with client to add value past budget or cashflow support.	Minimal administrative time spent outside of session. Ability to scale total number of clients supported to build a passive revenue stream. The MyBudgetCoach platform brings users to coaches. Client completes onboarding process.
Client Challenges	Upfront cost can be prohibitively expensive. Coach's program may not be the best for the client.	Lack of financial motivation to keep going. Lack of organization of progress or next steps. Difficulty using software.
Coach Challenges	Outside of session time can easily creep up without any additional compensation. Robust CRM required to keep track of stage of program for all clients. Once a program is over, there is no recurring revenue. Ongoing recruitment of clients.	Lack of predictable time and income. Balance of keeping track of client progress, versus only answering questions asked.
Target Audience	Clients seeking long-term support and willing to invest upfront.	Clients with the confidence to start on their own, but want the option for expert advice if needed.

Should you have any additional questions, please contact Nick Smith, Head of Coach Success. Feel free to book a discussion with Nick using the following link: https://tidycal.com/nick-smith-mybudgetcoach.