Should a Coaching Program Come with a Guarantee?

3 Reasons Why I say YES!

What Exactly is a Guarantee?

Wouldn’t it be great if everything we bought came with a guarantee? It just makes you feel good to think that a purchase is risk-free, right?

So what is a guarantee?? 

In a general sense, according to www.entrepreneur.com, it is “A pledge, usually in writing, given by a company to any customers that something is of specified quality, content, benefit or that it will provide satisfaction or will perform or produce in a specified manner.”

Many companies have long used guarantees of their products as a way to set themselves apart from the competition. Some examples include: L.L. Bean, Tupperware, Craftsman Tools, just to name a few. 

Sometimes a guarantee is very specific to the product and the functionality that is promised. In other cases, it’s as simple as a “100% Satisfaction Guarantee” that you will love what you buy, or you can simply return it for a full refund. 

When it comes to personal services, though, the idea of offering a guarantee is still a fairly new concept. After all, so much of personal service satisfaction is “in the eye of the beholder”. 

The hair stylist may think your new cut is amazing, but when you spin around and look in the mirror you start to cry. Who’s right? 

Your personal trainer is highly credentialed and helps you do great workouts, but if you eat a pizza every night you probably won’t see the results you wanted.

Although the service guarantee concept is newer, it’s growing in popularity.

But as with most things….if you find one that seems too good to be true, it probably is. 

Typically, the more valuable the guarantee, the more requirements there are for the purchaser to qualify for whatever is promised. 

My advice is to read through the terms of any guarantee that you plan to rely on, and make sure you understand what is required on your end to keep the guarantee in place.  

Does having a guarantee to fall back on affect your decision-making process as a consumer?? 

Coaching Guarantees: Pros & Cons

Back to my original question: 

How does the concept of a guaranteed service fit into the coaching industry? 

There are two distinct schools of thought on this, as follows:

First, there’s the “You Can’t Guarantee What You Don’t Have Control Over” theory:

• According to www.Entrepreneur.com, “At the end of the day, it’s up to clients to implement and take action on the knowledge you give them. You can’t control how motivated or lazy clients are.”

• Many of my peer Financial Coaches feel that they can’t guarantee a specific result because everyone has a different financial starting point, and may not be able to see a huge improvement in the short term.

• Finally, there is the fear of failure. Coaches fear that if clients don’t get results, and they’ve guaranteed those results, it will hurt their business finances and reputation.

• The bottom line with this view is the risk is too great to offer a guarantee.

Alternatively, we have the “Put Some Skin in the Game” theory:

• According to www.Coachandgrowrich.com, offering a guarantee is “A bold way to show potential clients that you are serious”. 

• Currently, the majority of the coaching industry isn’t regulated, which means there aren’t educational or experience requirements for becoming a coach. The reality is that someone can lose a lot of weight, become passionate about their journey, and decide to be a Weight Loss Coach. True, they are one step ahead of the client who hasn’t yet succeeded with that goal, but they also haven’t demonstrated their ability to get others those same results. 

• Most coaching programs require either a substantial amount or the entire fee to be paid upfront. That is to protect the coach from offering their time and expertise without compensation. But for many potential clients, this also can feel like having blind faith in someone who is often a stranger. This can feel like they have risked their money with very little assurance that they will get what they were promised. 

• The bottom line on this side of the fence is that the client shouldn’t take on all the risk in the coaching relationship.

All or Nothing Mentality

At the end of the day, the decision “To Guarantee or Not to Guarantee” comes down to finding a healthy balance of power and trust in the coaching relationship. 

After reading the Pros & Cons above, you may agree that it paints a picture of extremes.

Nearly all coaching (and almost any kind of personal service) guarantees I’ve seen are the “all or nothing” variety, meaning a specific result is promised and if it’s not achieved the client receives a full refund. 

In this scenario, you get these two extremes:

• Without a guarantee, the client has very little power in the relationship and must have total trust in the coach from the start; OR

• With a guarantee, the coach has little power and is putting total faith in the client.  

3 Reasons Why I’ve Decided to Offer a Guarantee

I debated this topic for quite some time, and came to the conclusion that YES, I do want to offer a guarantee to my clients.

Here are the reasons that’s the decision for my business:

• It doesn’t feel right to require my clients to assume ALL of the risk. Without some type of guarantee, I’m asking my clients to fully trust in the quality of my coaching by paying me upfront or in advance increments. Even though I know the years of experience I bring, and the results I’ve seen with current and past clients, it’s understandable that those who are new to coaching or new to me don’t fully share that confidence at first; 

• I want my clients to have confidence in their decision to work with me from the beginning. Since the coaching industry as a whole is not regulated currently, there are honestly some coaches who simply aren’t qualified or capable to deliver the results they promise. Having a guarantee provides a sense of comfort and assurance from the start; and

• I want to help more people reach their financial goals! The truth is that some people have made poor financial decisions in the past, and are afraid that signing up for financial coaching is going to be another bad choice. A guarantee makes that decision easier and faster, meaning more people have access to the help they need sooner than later.

The Cornerstone Financial Coaching Guarantee

The decision has been made to offer a guarantee.

But the all or nothing version didn’t seem like a sensible course of action. 

So I came up with a third option.

The best solution for both coach and clients is a guarantee that creates a joint level of responsibility and accountability within the coaching relationship. 

To accomplish this goal, I developed a guarantee that encourages clients to show up and do the work. At the same time, it creates an obligation based on my commitment to the client that they will have receive the knowledge and understanding needed to move forward with their financial goals.

And if the client isn’t there at the end of our 4 months together, I will continue to coach them for 2 additional months for FREE.
With a Win-Win philosophy, the Cornerstone Financial Coaching “Knowledge is Power Guarantee” was born!

Here It Is!

By the end of your 4-Month Financial Transformation program, you will: 

1) See where your money is going on a monthly basis; AND 

2) Know what is required to meet your top 2 financial goals. OR 

I will continue to coach you for FREE for up to 2 additional months, provided you have attended all scheduled sessions, completed agreed upon homework, and shared accurate financial information.

So if you find yourself wondering where your money goes, or why you can’t achieve your savings goals, consider investing in Financial Coaching to save yourself time, money, and stress.

If you choose to work with me, you will have a full understanding of both your money habits and how to reach your goals by the end of the program.

I guarantee it!