Finance Coach | Financial Training | Financial Plan Mentoring
Precisely Calculated: Get Your Financial Coaching from BrainHive
The financial coach can be imagined as someone who helps the coaching client understand all the financial figures related to the personal, entrepreneurial or academic challenge and in many cases, directly examines and corrects numerical material. Compared to the other coaching fields that we cover at BrainHive, this area is most strongly influenced by the collaborative work undertaken through live screenshares looking at calculations, spreadsheets etc.
This means that our typically financial coaching sessions are often characterized by split-screen sessions, either through programs such as TeamViewer and Excel, or through Google Hangout / Document / Table viewings. Also very basic questions about terminology in financial planning or technical tools for the guidance of household books and for the implementation of controlling systems in the enterprise belong to the repertoire of the Financial Coach.
Benefits of Using a Financial Coaching
The advantage of financial coaching is very obvious in this particular field, because financial planning particularly depends on a very high technical and mathematical expertise. It is often a keen, dry knowledge that some individuals, founders and even seasoned entrepreneurs, as well as managers and growth officers (who are often confronted with handling financial calculations) and in some cases also students and trainees who did not learn these skills at school or academically for whatever reason.
It is also sometimes the case that for people with particularly artistic or intuitive intelligence, certain areas of the financial sciences simply do not compute in the same way, and a little tuition is needed so that this important area does not become an Achilles heel. Because no matter whether you like numbers, mathematics and financial planning or not, especially in this day and age, the importance of them is unavoidable. Our world is increasingly shaped by machine intelligence and has less time for humanity, barriers to obtaining credit and self-protection through good financial understanding in everyday life have rarely been so significant and are just two of many examples of how much financial literacy means freedom.
The finance coach connects the worlds of the two halves of the brain, he is both a financial mathematician and adept at understanding emotional and interpersonal intelligence. He knows how to communicate and he understands how to put this knowledge into a format that his clients understand, which promotes the euphoric flow of learning through exercises and the breakdown of financial understanding into digestible snacks. Because even if a voluminous financial plan is perceived as something overwhelming, boring or annoying, a great potential for success and experiencing the flow feeling that makes difficult work easier to handle exists beyond the ability to compute these figures.
Frequently it happens that the error happens that the coach produces the entire financial planning and calculations themselves in the end. A good financial coach must make sure that the client gains as much knowledge as possible in their time together. Ideally, the client is empowered to no longer be afraid of financial planning in the future and has the tools and techniques to achieve all financial goals in their own lives as well as professionally.
Cost of a Financial Coach / Financial Plan Tutor
The involvement of a financial coach is probably one of the most financially intelligent decisions one can make when they try to tackle the issue of finance with vigor and success. In hardly any other coaching field are the benefits so directly correlated to the amount of investment.
While regular financial advisors and financial planners are already priced at between € 80 and € 120 per hour, dedicated financial coaching, which typically costs around € 150 to € 200 per session, can provide much faster benefits. This is mainly due to the fact that tools with which the coach works are acquired by the client. In other words, instead of hiring a tax consultant for € 500 or € 600 to prepare a short financial plan or review a budget book and plan a savings strategy, you can simply hire a seasoned professional financial coach. This will not only teach the client financial plans to create and examine themselves, but depending on the case also go into the character work and explore topics such as discipline, communication management and impulse control on a psycho-human level together with the client.
|Telephone Coaching *||1h||2h||4h||8h|
|Video Coaching / Screen Sharing||–||1h||2h||4h|
|Review / Comment / Revise Planning**||About 6 pages||Approximately 12 pages||Approximately 16 pages||24+ pages|
|Recommendation Report||–||–||1 report||Up to 2 reports|
|Period||1 week||1 month||2 months||2-4 months|
Calculation / Price Quantities Drill-Down etc.
|–||Worst case / best case alternative scenario (selectable)||Up to 3 pages / scenarios||Up to 5 pages / scenarios|
|Extended Quality Analysis OR Translations||–||–||Up to 3 pages||Up to 6 pages|
|Fundraising support, Research etc.||–||1h||2h||4h|
|Suitable for||Smaller projects under € 100,000 total capital, personal finance coaching||Medium projects under € 300,000 total capital||Larger projects with over € 300,000 in total capital||Large projects from 1 million Euro total capital|
|Total Price||800 €||1,600 €||2,800 €||4,000 €|
|Max. Monthly price||800 €||1,600 €||1,400 €||3,000 €|
|Corresponds to total man-days||1 man-day||2 man-days||3 man-days||4 man-days|
|Price*** / Man-day||800 €||800 €||933.33 €||1,000 €|
* = Mostly while viewing the planning documentation on screen
** = Additional costs may be incurred depending on the complexity of the revision. If the planning plant is sufficiently good, more volume can be processed within the available time budget.
*** = Use licenses for all templates as well as additional documentation / tutorials are included in the price
At BrainHive Coaching we have so much experience with financial planning, based on more than 11 years of financial planning, business planning and investment prospect planning, that we can cover this area separately.
You can employ BrainHive financial coaching specifically for the following areas:
- a) Financial mentoring
- b) Training with the other instruments of financial planning
- c) Effectiveness analysis of investments, as well as our ancillary experience
- d) Personal finance
- e) Entry into the founding of a company
- f) Location-independent employment
In addition, we are able to sustainably clarify the entirety of all financial questions for our clients in the role of coach. Since we like to work with packages at BrainHive Coaching, we have tried to differentiate between fair and transparent performance options in this area of financial coaching, each of which offers a precise level of coaching assistance for the specific questions our typical customers are facing.
Process of Financial Coaching
The briefing usually starts by telephone and by questionnaire. Also, clients frequently generate their own documentation in the financial coaching including: annual reports and business evaluation sheets; scanning of household books and tenders; copies of all financial contracts or specially compiled notes; and tables which represent the entirety of the financial situation. By completing the BrainHive Coaching financial coaching questionnaires, we gain a good view of the status quo as well as the future intentions of the coaching client and what challenges are currently holding them back.
In this phase, there are also questions and it may easily require longer phone calls, which contribute to the information provided and also contribute to establishing personal trust and sympathy between the Financial Coach and the client. This is often very critical to financial coaching, as clients tend to be frustrated by their circumstance and the gravity of the topic of money, in the context of not having enough of it.
Typically, the ultimate product of any financial coaching is a specific financial plan or set of financial plans that represent specific imputed scenarios. Also, a fruit of financial coaching is often a changed mentality in terms of numbers and finances, and in the area of personal coaching, of course, there is a change in spending behavior. It can also mean successfully obtained credit or a grant, if financing for a new company or for a house should be achieved through financial coaching.
In any case, the result of the work of the experienced finance coach is relatively measurable in the success and unlike in many coaching disciplines the way to success is predetermined, simply because it is less about character and human aspects, and focused more on the technical ones.