"So ask yourself: what has your $$$ coach done for you lately? Is it worth a 500-1000% markup on this list above? "
ummmm - yes, is my answer both as an athlete and as a coach.
Scott
What neighborhood do you live in? I spend that much just in one weekend, and I have my own supply chain…
Spending a few Benjis each month on coaching might seem like alot to some people, but when you consider how many people have no clue what they’re doing, it’s money well spent. Even if you know what you’re doing, you are your own worst coach. Having run competitively and been coached at a high level for years, I’d like to think I know what I’m doing. Right now, I only use training plans right now and go off my own experience. However, if I really wanted to reach top form, I’d definitely get a coach. I’d opt for fit to me over money though. It’s people’s own money and if they really want to achieve something, spending it on coaching is probably some of the best bang for the buck.
I’m actually cheap as a coach. I have absolutely, no USCF, USAT, or USATF coaching certification. My going rate is a 4-pack of Sprecher a month, but I’m probably only going to help someone running 85+ miles a week who’s shooting for a sub-2:40 at Boston. Hey, you get what you pay for…
i think rich has raised very insightful issues about the nature of coaching services and how they meet different needs for different people. also, how they meet different business goals for different coaches. rich’s endurance nation service is a great tool for the previously self-coached athlete who has the time to review the large volume of information, sort through to find their specific needs, and take advantage of those tools and templates that fit their needs. it also seems to have enough generic training plans to suit those who just want something to follow. a well conceived generic plan works for the majority of athletes. this business model is one with much merit.
there is also room in the marketplace for the coach who wants to deal with a smaller volume of athletes and provide a more personalized service, as well as the elite coach who can offer the ‘platinum plan’ for those willing and able to pay. judging by the number $5000+ carbon bikes on the racks, i’d say these are also both valid business models, and also in rich’s roster of services offered. i feel, though, that the coaches trying to offer everything at rock bottom rates because they would ‘feel guilty’ charging more are not looking at the true value of what they are offering. simply looking at the time involved, i think that i spend about 10-15hrs per month on an athlete between writing plans, reviewing data, adjusting workouts, answering emails, and talking on the phone. probably even more, actually, adding in the time to build the annual plan, adjust the constantly changing race calendar, and calculating build and taper schedules for a, b, and c races. since i write my own schedules and workouts, rather than use templates, this takes some time. granted, after working with an athlete for a time and developing a basic week as well as learning how they respond to different training loads, the process becomes faster. still, doing all this for under $100 per month…i might as well work the counter at mcdonald’s.
as someone who has worked in the service industry for over 35 years, i realize that there are various tiers of service and pricing in many businesses. look at the restaurant business, for example. what makes a $200 dinner for two ‘worth more’ than a sandwich at subway? i have been a hairstylist since the early 70s. there has always been a big range of product available in my industry. i could work at a franchise haircut shop and do a $10-15 haircut every 15min, or charge 5-6 times as much for a haircut, booking every 45min. is one really a ‘better’ haircut, if the client is satisfied? maybe/maybe not in execution, but i feel that i offer more personal service as the latter stylist, spending more time on a consultation to determine what style works best for the client’s face, lifestyle, career, and time available for maintenance. the franchise stylist has no time to do this and still fill their quota, so they usually resort to ‘haircut a,b,or c’.
since i am not planning on leaving my day job anytime soon, i choose to follow a similar business model…supply a more personal service experience using proven, up to the minute techniques, and limit my client volume in order to do so. i work with clients who trust my advice and are willing to pay a fair price for my time. since i have no intention of working with more than 10 people at a time in order to maintain my standards, this is a very realistic approach in my opinion. so is rich’s high volume, almost self serve approach, the top dollar elite coaches, and those large coaching businesses that have entire teams of coaches on their staffs. the market will sort it all out and there will be room for all.
As a self-employed person, I’m shocked that coaches can make a living at all, whether at the $80 or the $500 level.
If you’ve never worked for yourself you might have no idea how much money flies out the door. There is nobody paying your: Medical benefits; travel; certification costs; phone bills; equipment or office expenses; marketing items. And nobody pays you for sick days, vacation days, and the absolutely massive amount of time you spend marketing (building relationships) so that people hire or re-hire you in the first place. Not to mention time and money spent doing admin (tracking your hours, keeping track of receipts, etc.), and being your own equipment-fixer, travel agent, cook, and janitor.
I’d be surprised if more than 25% of full time coaches are netting over $30k per year.
Sorry. Just another self-employment rant here. Life is expensive when The Man isn’t taking care of you.
I have a huge respect for what good coaches offer for the money.
I can’t see how a coach could possibly be worth more to me than my rent? (I pay less than $500/month in rent)
I can’t see how a coach could possibly be worth more to me than my rent? (I pay less than $500/month in rent)
Where do YOU live?!
I can’t see how a coach could possibly be worth more to me than my rent? (I pay less than $500/month in rent)
there’s nothing wrong with that, but then you probably aren’t in the marketing demographic for the $500/mo coach…or the $100 haircut, the $5000 bike, the $800/mo car payment, or the $4000/mo mortgage…but many people seriously do pay these amounts and more. everything is relative. there are even athletes who pay less that $500/mo in rent so thay can afford a coach. different strokes…'sall good.
Personally, after having been doing this full time, with a SoCal mortgage, since 2001, I can’t imagine the circumstances that would prompt me to dust off my resume (no idea where it is) and consider working for the Man. It’s extremely rewarding to know if I don’t kill it and skin it myself, I don’t eat.
Likewise, I think it’s valuable for all of us to consider the business side of our sport. On the coaching side, it doesn’t take an MBA to understand that a you can only have so much time to coach x people at $y/mo and pretty soon you’re looking at a salary cap. That might be fine if you have a day job or something else on the side, but a limiting proposition if you don’t but want to see your family, lifestyle, and prospects for future security grow. Good, successful business people are able to step outside of the day to day tactical stuff and are able to steer the ship towards more long term, strategic goals.
For me, when I have an idea or consider a business direction, I ask myself:
Does it leverage what I’m good at?
Does it avoid my weaknesses?Does it support my lifestyle?Are there opportunities for scale?If the answer is no to any of these, I don’t do it. Fortunately, most of the people I work with understand and appreciate this and have been very supportive of me and my business goals. The best part of this gig is the networking opportunities with cool people doing lots of cool stuff. If only I could find the general contractor/electrician in LA looking for 20yrs of coaching as a work tradeout…
'nuff talking, gotta go write an ebook
I spend more than that each month on hookers and blow.
j/k
Brett
Damn I hope so, or that is some cheap ass coke and one butt ugly ho.
Y’know folks there is a lot of good books, DVD’s and websites that will give you all the info you really need.
$500 a month for a coach? If you have lots of money and really want to believe that the most expensive coach is always the best then go for it, but I’ll pass.
What neighborhood do you live in? I spend that much just in one weekend, and I have my own supply chain…
Spending a few Benjis each month on coaching might seem like alot to some people,
It is a lot to **most **people. The median US household (not individual) income is around $50,000. It just so happens that the demographic of triathlons attracts a lot of people well above the median, so to the average triathlete (and I am going to assume the average IM triathlete has even more money), this is probably not too much.
I think Strauss hit the nail on the head. If you are paying more than a couple of hundred dollars per year for a coach, and they are not local (e.g they are not actually present for some of your workouts, like to watch you swim, see how you run), you are probably not getting a lot of value for your money.
One of the reasons I’ve always been drawn to “individualist” sports like triathlon is because I depend solely upon myself. If I do well I feel the sense of accomplishment, if I don’t do so well then it’s on me and up to me to make whatever changes necessary. I can’t point the finger at anyone but myself, no teammates, no coach.
I think 500 might be a tad steep, but it can definitely be worth it. Instead of echoing what people have already said, ill give you an example from another field: cello. I am a cellist (think big violin, but smaller than bass). I take private lessons with a well respected teacher once a week for 30 minutes. I would consider her middle of the road in expense. She charges $35/ lesson with an average of 4.3 lessons a month i spend about $150 on cello lessons. Now a very good cellist (still not a professional) would pay about twice that for the same amount of time, and probably take an hour long lesson. thats about $600 a month. Now in music their are cheap instruments and there are crappy ones. For the $1,800 i spend a year on lessons if I stopped and saved I for a few years I could get an $9,000 cello. The difference is in music you pick a instrument comparable to your skill, not your wallet size. If I played on Yo Yo Ma’s cello it would sound mediocre.
bottom line, coaching improves the athlete and the athlete wins races. gear is just a supplement. spend money on coaching
just my 2 cents
I think 500 might be a tad steep, but it can definitely be worth it. Instead of echoing what people have already said, ill give you an example from another field: cello. I am a cellist (think big violin, but smaller than bass). I take private lessons with a well respected teacher once a week for 30 minutes.
I agree, as you pointed out, you meet in person with your “coach”. There are many people paying well over $100/month to a coach they never see. Phonecalls email and the like are not the same as face to face. For example I cannot see how a coach can add much value to your swimming unless they actually watch you. I was gladly paying to go to Masters swimming and get actually face to face interaction.
Having been in the bike/triathlon and coaching business, I would say that coaches should charge whatever they can get. If you are in demand, then jack it up. Most coaches have to start out with low prices and a lot of clients to make ends meet. It is not an optimal situation for either party. Eventually the coach either gets a rep and can raise their rates, or they just sit where they are and grind it out with the masses. Some will even have to fold their tents and get a real job. I remember back years ago when Rock and Huddle were just beginning, and I would hear their stories of all the energy that was being sucked out of their lives by all their clients. They slowly jacked up their rates, and attrition of the financially weak took it Darwinian course… I don’t know what they charge now, but I’m sure it is over the $500 a month mentioned here. You have to remember this is a business for them, not a charity for you. Remember all those Ironman slots that go for over 30 grand on ebay, there are a lot of people that got out bid starting around $5k… That’s a lot of folks where money means nothing to them, or a dollar to us us like 10k to them…It is true capitalism at work… If you don’t have the big bucks, then you better find the next great coach at the beginning of their careers, and lock in a long term deal…
… or sign up for the Xantusia Tri Camp (while it is still affordable).
