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Career Paths

 
#1 Career Paths
08/06/2011 16:08

Mr Cool

I’d welcome people’s feedback on a business idea that has been pitched to me

Some time ago I was introduced to a reputable coaching company. Take it from me that they are not rip-off artists. They have a long standing programme that people go through to assess whether they should stay in their current role, actively seek promotion, move to a competitor, start their own business, etc.

In short it’s an “at a cross-roads” programme with a medium term outlook.

I mentioned to them that such a programme for consultants would need to be re-assessed every 18 months based on how often we appear to find ourselves at a career crossroads! I was half joking.

They have now come back to me and asked if I will help them adapt their programme for this very purpose and possibly deliver it. They think they can put together a twelve week duration programme (about 40 hours), done entirely out of office hours that provides MC’s with a definitive guide on their best 3-5 year plan. Cost is likely to be between £400-£500. The course would include a series of psych test, motivational analysis, interviews and face-2-face mentoring and help with networking.

How many people would invest that sort of money in themselves in order to get certainty over a career plan of that nature?

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#2 RE: Career Paths
09/06/2011 11:47

Bob to Mr Cool (#1)

I read your post to be asking (at least in part): "Is £500 too much to charge for this"?

I would answer this in two ways:

A) I would gladly pay £500 if I thought this would actually provide a useful opportunity to reflect on my career (even if it didn't necessarily 'give me the one and only right answer'). Its not like I'm going to build my whole career over that some consultancy tells me based on some phsych tests.

But on the other hand:

B) How can any company provide me with real valuable insight or advice for such a measly sum? 40 hours for £400? That means they're making £10 an hour in revenue. Less than a hairdresser.

I don't work in pricing, but surely there is some model of pricing that says the more you charge, the more valuable something is seen as, and the more people are willing to pay. I suppose the tricky bit is determining what the right price is.

Any pricing consultants on this site who can elaborate on theory or practical approaches here to test price elasticity (if that is the right term)?

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#3 RE: Career Paths
09/06/2011 12:32

Mr Cool to Bob (#2)

Aha! In the interest of relative brevity I have missed out some key points!

The programme would follow their existing format which is largely GROUP based. Of the forty hours commitment only 2-4 are 1-2-1 and face to face. Approximately 10 are in group sessions. The rest is on-line tests/self-assessment and self-prep for the sessions.

Yes - I'm interested in reactions to the price point, perceived value and any other comments.

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#4 RE: Career Paths
01/07/2011 14:47

monkold to Mr Cool (#3)

Mr Cool

The price point I think, is low. At this fee, I would indeed question the value provided. A lot will depend on the 'group' and the credibility of the individuals and, their work experience and background and therefore ability to provide meaningful reflection on any person's career. Again, not quite sure how comfortable people will be in sharing details in a group forum ?

All in all, a good idea - the actual execution is trickier

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#5 RE: Career Paths
08/07/2011 09:45

Arby the Manager to monkold (#4)

I have always been wary of programs such as these. They target the disillusioned and the disenfranchised - and seek to offer some sort of life coaching for a tidy fee. Whilst I admit it's useful for some people, so is Religion - but that doesn't make it true! For me - to use any sort of coaching company for career guidance is nonsense - and usually in these models, they use bog-standard pseudo-psycho babble - with no real Consultancy insights, no experience of the market and - probably most irritatingly of all - no real results, just a litany of poor-quality, cliched advice you can get in most self-help books from Amazon for a tenner. I also doubt the efficacy of the group-sessions. The people in those sessions will not be the dynamic, go-getting promotees of tomorrow - they will be just as dispondent and confused as the rest, so any networking will not - let's say - be very useful!

OK - I admit that this, however, may be something slightly different. Mr Cool will use his Consultancy experience to make it more relevant - but I echo the previous posters thoughts. 500 quid for 40 hours is peanuts. It doesn't sound like it's going to make you rich - or even the next Tony Robbins - so I would look at it the other way around. Are you willing to invest your OWN time in this rubbish for peanuts? If you are - good luck to you....

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#6 RE: Career Paths
08/07/2011 11:00

monkold to Arby the Manager (#5)

Arby,

I was providing feedback on whether on not I thought this was a good business idea i.e Is there a market ? And if so what is the perceived value ? and I think - Yes there is a market.

Admittedly I was thinking less about attending the programme than about pitching for this business plan !

I haven't attended any of these career guidance programmes. So I don't know if they are any good. But yes, I would think long and hard about committing time or money to any programme self help or otherwise (as would anyone I imagine)

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#7 RE: Career Paths
08/07/2011 13:46

Arby the Manager to monkold (#6)

I didn't even read your post actually - it didn't interest me at all. I should have clicked reply on the initial thread....

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