One size does not fit all when it comes to choosing a money coach that best suits you and your goals. Coaches have different personal styles, belief systems and teaching strategies. Choosing the right
business finance coach is a defining step toward setting yourself up for success in your business. Here are four clear and attainable steps to guide you through the process.

Step 1: Define Your WHY

A huge factor in any decision you make is figuring out why you are taking that step in the first place. In this case, define why you want to hire a money coach and what you wish to gain by having one. Self-reflection exercises will help you assess where you are currently at, where you want to be, define your goals and how to reach those goals.

Grab a pen and paper and dive into these questions to clarify exactly what you are looking to gain from your money coach

• What are my business and lifestyle goals?
• What obstacles are holding me back from achieving these goals right now?
• What part of my business finances do I feel good about?
• What parts confuse or overwhelm me?
• Am I prepared for my future with a pre retirement checklist?
• What are my bad money habits? (List two or three)
• What are the top 3 things that I wish I could change immediately in regards to my cash flow and finances?
• Why do I want to hire a money coach?

By first figuring out where you are in your life and what your pain-points are, you will have better insight into what to look for in a coach. Specifically, whether you need help saving money, adopting good money habits, generating more revenue, maintaining more profit, investing for the future, pricing your services or developing financial strategies. Defining your why will put you on the right path to finding a money coach best suited for you.

Step 2: Identify Characteristics

Every coach has a unique teaching style as every student has a different learning style. Certain personality characteristics and communication styles mesh better together than others. Knowing your learning style will allow you find a coach that compliments you, making for much more successful and enjoyable experience. Some of a coach’s most valuable characteristics are motivation, accountability and knowledge. Think about how involved and dominant you want your money coach to be in these areas. Answer the following questions to gain a better understanding.

• How do I like to be motivated? (i.e. Achievement objectives, incentive, fear, power)
• How do I learn best? (i.e. Visual, logical, verbal, aural)
• What skills compliment my learning style?
• What level of accountability do I want?
• How do I like to be supported?
• What are character traits of my ideal coach? (i.e. integrity, knowledge, intuition, sense of humor)
• What character traits do I not connect with?
• What beliefs and values of mine are important to have in common with my coach?

After exploring these questions, create a specific list of criteria you feel is vital for your coach to possess. Consider “must not have” traits as well, both are beneficial to take with you to the next step.

Step 3: Research

Now that you have defined what you want from your money coach and which coaching characteristics you prefer, it is time to start exploring.

A quick and efficient first filter in your research is looking for web presence. You can learn a lot about a coaches’ style and personality through what is presented on their website and what pops up first on a google search of their full name. A quality money coach will have a quality web presence.

Areas to look for on a coach’s site:

• About
• Mission statement
• Educational background
• Credentials and certifications
• Years of relevant work experience
• Testimonials and reviews
• Services they offer
• Free resources they provide
• If they offer a complimentary consultation

Exploring these areas will make it clear who is best positioned to provide you the style of service you envisioned in the previous steps. You can get a gauge of their openness and transparency through their bio and personal story. Finding their certifications and educational background will show how credible and experienced they are about their field. Their vision should speak to you. Offering free resources and blogs are a sign of a coach who wants to provide extra resources and helpful tips to lead you to success.

Step 4: Set up a complimentary consultation

Last but certainly not least, take your top few choices for a test run. Set up a complimentary consultation to get to know them and their business on a more personable level. Through this phone call, you will gain a better feel for who they are and if you two are a good fit..

During the call, pay attention to the coach’s communication style. Are they providing you thorough information and answering questions clearly? A major role of a coach is being able to articulate ideas and concepts clearly. Do you feel they are really listening and interested in your needs? A good money coach will be attentive and caring about you and everything you have to say.

Examine their energy and tone of voice to make sure it resonates with yours. Business and personal life tend to overlap so it’s vital that you feel comfortable with a sense of trustworthiness. Is the coach speaking to you like a teammate or an authority figure? Refer back to the list of personality traits you desire in a coach. Are these matching up with how you feel during the call?

Does the coach challenge your thought process and broaden your perspective? In order to maximize results, a coach must push you beyond your comfort. Are they able to pinpoint your obstacles and have solutions for you to implement? Find a coach with structure and an accountability system in place to ensure you are following through.

Find out as much as possible regarding the coaching sessions. You want a coach who will fully and honestly disclose expenses to you. Ask for increments of a payment plan and be aware of coaches who ask for full payment up front. Are coaching sessions offered open-ended or set to a specific number of sessions? Look for a coach who offers support with planning, investing, insurance, tax and legal.

Recall back to your why. The key is to find a money coach that fits your vision and values. Trust your gut instincts when deciding if the coach genuinely understands who you are and what you need. Imagine what an ongoing coaching relationship would be like with this person. Visualizing the dynamic will allow you to tap into your truth.

This may seem like a lot to consider in one short phone consultation. Not every question will have an answer when you’re done, but using this list should give you a good overall feel for the quality of the coaching experience.  Listen for these questions from a small business tax accountant to help gauge if they are a good fit. At the end of the day, listen to what your heart tells you. If it feels right, you’ll know.