This is the ultimate guide on executive coaching.

You’ll learn:

• What executive coaching is (and isn’t)
• Why executive coaching is a “no brainer” for clients
• How to become an executive coach

Ready to get started? Let’s go.

You’ll learn: 

What is executive coaching?

What does an executive coach do?

Types of executive coaches

Benefits of executive coaches

Who should hire an executive coach?

What can you expect from an executive coach?

How do you choose an executive coach?

What is the cost of executive coaching?

How to become an executive coach

What is executive coaching?

Executive coaching is a coach who helps people develop their leadership skills and other skills necessary to be a high-performing executive coach.

But what’s the difference between executive coaching, leadership coaching, mentoring, and counseling? 

• Leadership coaching: Executive coaching and leadership coaching are often used interchangeably, but there’s a difference between the two. Leadership coaching focuses more on leadership, while executive coaching can focus on other things, too, like the team, strategy, and so on. 

• Mentoring: Executive coaches aren’t just mentors. Unlike a coach, a mentor is often someone who works in the same industry or even in the same organization as the mentee. They work with the mentee to help them further their career by offering advice, opening doors, and providing guidance – but only after a deep relationship is formed. A mentor also doesn’t guarantee results, doesn’t work within a timeframe, and often works pro bono. On the other hand, a coach works within a timeframe, guarantees results, and charges for the relationship.

• Counseling: Executive coaching isn’t counseling, either. Counselors help their clients find ways to improve their overall well-being and always have a license.With the exception of a few niches, coaches don’t need licenses or certifications to help their clients overcome challenges and improve their lives. 

You can learn more about the differences between a coach, mentor, and counselor in this post. 

For now, we’ll be focusing just on executive coaches.     

Keep reading to learn what, exactly, they do.

What does an executive coach do?

Executive coaches help their clients better understand their strengths and weaknesses, define their goals, and develop new ways to reach those goals.

As an executive coach, you might help your clients:            

• Sharpen their communication skills
• Improve workplace relationships
• Strengthen their confidence
• Improve their decision-making processes
• Find new ways to overcome challenges

Where do you find an executive coach? 

It depends.

While some executive coaches are self-employed, that’s not always the case. They might be part of a consultancy or similar practice, or even brought in by the client’s organization.

If you’re unsure where to find a coach, I suggest starting your search at the International Coaching Federation, Academy of Executive Coaching, or Library of Professional Coaching.

‘Executive coach’ is a broad term, so let’s talk about the kind of executive coaches available.

Types of executive coaches

Like other types of coaches, executive coaches have several niches they can work in.

Executive leadership coach

An executive leadership coach works with each client to develop new ways to become a better leader in the workplace.

They help them improve their work relationships, communication, and decision-making abilities.    

In addition, executive leadership coaching is all about offering reassurance, accountability, and a safe space to explore new ideas and get feedback.

Management coach

Management coaches work one-on-one with those overseeing a team or department to help them develop better leadership and management skills.

Throughout their time together, management coaches will arm managers with new ways to address workplace issues, find innovative solutions to challenges, and bring out the best in themselves and those on their team.

Career coach

A career coach works one-on-one with employees of all levels, from entry-level to executive, to help them determine what they want from their careers. 

They assist their clients in defining their goals and, once they are defined, create a roadmap to help them reach them.

Career coaches can help with career planning, career transitions, setting and reaching long-term professional goals, finding work-life balance, and more.

Business coach

Business coaches are there to offer support to, educate, and motivate business owners every step of the way on their entrepreneurial journey. 

Not only do they help their clients define a vision and strategy for their company, but they also provide the kind of guidance that accelerates business growth and helps owners reach their goals more quickly.

Life coach

A life coach helps clients define, set, and achieve their life goals.

And yes, that includes business and career goals.

Life coaches can help their clients land a new job or promotion, develop or change their careers, manage or reduce stress, improve their work skills, and more. 

(On a side note, I actually don’t recommend that you call yourself a “life coach.” Why? Read more here.) 

Performance coach 

Performance coaches help their clients perform better in a variety of workplace situations.

They are there to help each client find new ways to improve their performance so they can push past their obstacles to achieve their goals. They work with employees on all levels, including employees, executives, and even entrepreneurs. 

Benefits of executive coaching

Now that we’ve covered the types of executive coaches, let’s talk about the benefits of working with one.

Executive coaches can help their clients:

• Clarify their goals and set new ones
• Achieve their goals more quickly
• Become better decision-makers, both in their personal and professional lives
• Avoid executive isolation
• Improve their thought leadership skills
• Change their communication skills and how they show up as a leader for the better
• Strengthen their self-confidence and decision-making skills

And it works. Just take a look at some of the benefits of coaching:

• 73% say that coaching has helped them improve work performance, communication skills, interpersonal skills, relationships, work/life balance, and wellness
• 51% of companies with a strong coaching culture have higher revenues than their competitors
• 95% say they’ve seen positive increases in their efficacy, goal attainment, and psychological well-being within the workplace
•  Companies that invest in executive coaching solutions see a 788% return on investment when things like productivity and employee satisfaction are considered
• 75% say that the value of executive coaching is more significant than any time or money they invested

Now that we’ve explored the benefits of working with an executive coach, you might be wondering if hiring one is right for you.

Let’s talk about it.

Who should hire an executive coach?

So, what kind of employee should hire an executive coach?

‘Executives’ may seem like the best – and most obvious – answer to this question.

But the truth is, anyone who wants to better themselves professionally can benefit from hiring and working with an executive coach.

That includes:

• C-suite executives (CEO, CFO, COO, CTO, etc.)
• Senior leaders
• New leaders
• High-potential professionals
• Those looking to change their career
• Mid-stage professionals
• Late-stage professionals
• Anyone who wants to improve their performance

If you choose to hire an executive coach, what can you expect during your coaching relationship with them? Keep reading to find out.

What can you expect from an executive coach?

When you hire an executive coach, you’ll commit to a set amount of time in which you’ll work together. 

A professional coaching commitment can last as little as three months, but most last for at least six months. During your time together, you’ll work toward achieving an overall goal quickly and sustainably.

How does the process work?

Your coach will likely start your relationship by creating a 360 profile of who you are as a professional and help you determine what you will be working toward. 

In this phase, your coach will create a roadmap so you know what to expect to happen over the next few months.

You’ll also work together to set subgoals that will build upon each other to help you reach your overall goal.

Most likely, you’ll have a call with your coach once or twice a month to check in on your progress and adjust as needed. 

Between those calls, you’ll work to develop your skills and reach your goals, as well as ask your coach questions as they come up. 

But there’s more to think about than just how the executive coaching process works – like how to find the right coach for you.

Read on to learn about what to look for in an executive coach.

How do you choose an executive coach?

Choosing the right executive coach for you can feel overwhelming.

So, let’s keep it as simple as possible.

First, check out each coach’s credentials. 

What is their experience, and how many years of it do they have? Do they have a strong leadership background? Have they helped people similar to you get results?      

Most importantly, make sure that the results they’ve helped others get reflect the ones you’re working toward.

As you search for a coach, you’ll probably see a lot out there about different certifications.

But the truth is that certifications aren’t necessary for coaching. 

In fact, certifications don’t mean anything when it comes to how good a coach is. Results do, so focus on those instead.

Now that we’ve talked about what to expect during executive coaching and how to choose a coach, let’s explore how much it costs.

What is the cost of executive coaching?

Executive coaching is an investment.

According to the 2023 Global Coaching Study by the International Coaching Federation, the average one-hour coaching session costs $244 USD. 

On average, coaches in North America make $67,800 USD per year.

However, if a coach can help you get results, the cost of an executive coach pays itself back many times over. 

Now that we’ve discussed the basics of executive coaching, you might be thinking, “Hey, I can help other professionals – this is something I’m interested in doing myself!”

If so, keep reading to learn about how to become a successful executive coach.

How to become an executive coach

If you’re a successful executive coach with a proven track record of helping others do the same, becoming an executive coach might be for you.

In fact, most people don’t even realize that they have the skills and tools needed to build a six- or multiple six-figure coaching business that offers more fulfillment, freedom, and work-life balance.

You just have to take the first step.

For example, my client Anna helps female leaders advance in their careers. She defines herself as a career coach, but either way – her clients get better-paid and more fulfilling positions thanks to Anna’s help. 

Want to do the same? 

Here’s how to get started.

Find your executive coaching niche 

As I said earlier, ‘executive coach’ is a broad term. To attract your ideal clients and find success, you need to have a specialty.

In other words, you need to find your niche – something that gets people interested in your coaching services because it’s tailor-made for their specific situation.

Just off the top of my head, some executive coaching niches include:

• Small business coaching
• Workplace relationship coaching
• Team effectiveness coaching

If you’re not sure where to start, take a look at my list of 100 profitable niches for some inspiration.

Get an executive coaching certification

I’ve mentioned that you don’t need to get certified to be a successful executive coach in most niches.     

For the most part, you just need relevant experience, proven results, a paying client, and a laptop. You see, you can develop your coaching skills once you have clients (and you offer them a lower rate so it’s a win for them, too). 

However, some clients, especially those within larger organizations, often prefer coaches who have taken executive coach training or earned a relevant executive coaching certification. 

If you for that, or another, reason want to get become a professional certified coach, take a look at these well-respected executive coaching programs to get you started:

• INSEAD Coaching Programs: INSEAD offers several coaching programs, including Essentials of Coaching and INSEAD Coaching Certificate. The program costs range between $10,000 to $20,000+.          
• Executive Development Program: Leading Into the Future, Columbia University: The Executive Development Program is a two-week general management program. The cost is $30,000. 
• Leadership Coaching Strategies, Harvard University: This Harvard University program is a two-day program at $3,000. The program focuses on leadership development coaching for managers. 

Start your executive coaching business

You could have the perfect niche and an impressive certification, but you can’t become a successful executive coach unless you actually start your business.

So, how do you do it? By creating a business plan, finding a paying client, and creating an offer.

Start marketing your business and land your first paying client    

To market your business, reach out to your network of family, friends, and colleagues and offer your services. If they don’t need help, ask them to refer you to their network.

Don’t underestimate the power of social media, either. Find relevant communities on platforms like Facebook, LinkedIn, Instagram, and Reddit, and start offering advice before trying to land a client.

Another strategy is to get interviewed as a guest on podcasts and authoring relevant articles on popular websites.

Create a coaching package

It’s important to know exactly what you will offer your clients.

I always recommend that new coaches start by offering a three-month coaching package that costs $1,500. 

Why three months?

Because it’s enough time to help clients see results but not so much time that it seems like a huge commitment. 

Over the three months, you should offer one to two monthly sessions plus another line of communication where a client can ask questions.

Next steps 

There you have it! Everything you need to know about executive coaching.

As an executive coach, you have an incredible impact. And that, along with freedom and flexibility, is why building a business around it can be so rewarding.

You can build a six- or seven-figure executive coaching business.

And you can do it without working 24 hours a day, seven days a week. (After all, you want to run a business, not get another job.)

If you want to learn how, download my proven blueprint today. It’s helped me and several of my clients do exactly that:

Read more:

How to Start a Successful Coaching Business     

The Definitive Starting a Coaching Business Checklist