Who doesn’t love a well-constructed process?

For people who are unfamiliar with the counseling dynamic, sometimes understanding how it works provides comfort and ease.  In this final installment of our coaching relationship series, we will discuss the counseling process.  The process serves a couple purposes: 1) it provides practical expectations for what is involved making it less intimidating.  And 2) it keeps the relationship on track.  Counseling is conversational, so it’s very easy to get sidetracked and lose sight of why we are here.  These four steps ensure that both the client and coach keep the relationship moving. 

While the graphic above is linear, the relationship between the coach and client isn’t that clean.  So that’s why I have lines circling back from Acting to Exploring and Acting to Understanding.  Let’s dig in and get more understanding.

Initiating includes building rapport, initiating and completing the intake process.  Coaches actively endeavor to get the client comfortable with being open and freely discussing their finances.  Simple strategies like furniture, lighting, line of sight into the coaching room, and décor can be implemented to make the client comfortable.  As discussed, this can be done through written or verbal Q & A.  The coach may take notes throughout the sessions to document key pieces of information and get an idea of the direction the relationship will go.

Exploring shifts from gathering hard data to collecting soft data.  Are the coach and client attempting to plan for a goal, or solve a problem?  We may discover that there is a knowledge gap the client wants to close.  Opportunities for education and awareness are noted and incorporated into the counseling process.  The initiating phase could reveal that there is a persistent challenge the client needs to address.  This challenge could be causing such serious issues that the client is now in crisis.  The coach and client will process the information and explore options to remedy. 

Understanding involves creating a plan with strategies and goals.  The strategies and goals should be well defined so the coach and client know when they have been accomplished.  Specific timing, required resources and measurements should be worded so the client has a clear understanding of what they are aiming for.  Clear objectives also provide a useful tool for the coach to use when they check in with the client. 

Acting is the good part.  Time to put the plan into motion.  Remember when I said the process isn’t linear?  Acting is the phase that requires some circling back.  No plan is 100% perfect from beginning to end.  The client can realize a few weeks or months into the plan that they are moving towards a goal they don’t want to achieve.  When that occurs, the client and coach go back to exploring to gather more information.  What did we misunderstand and where can we find clarity?  Sometimes the client is becoming more aware of themselves and realizing what they really value, and other times there are real financial priorities that didn’t present during initial discussions.  Keep digging, reassess the target and continue the work.  No matter what the process looks like, the client is making progress.  Focus on that.

I hope that demystifies the financial coaching relationship for anyone considering that as an option.  You know the drill!  Let’s chat!  StudioM is here to assist you.  10% vital is picking up the phone or tablet to call or email.  letstalk@studiomfinancial.net or (469) 615-0387.  Until we meet, keep working on the change.