From Zero to One

Problem

The focus of this work scope was to better understand the key Jobs-To-Be-Done for coaches and clients and discover how Thrivent’s Wise With Money point of view might show up in an authentic and meaningful way in regular coaching practice.

Constraints

Throughout the project, we experienced shifting constraints and competing forces tied to strategic goals and objectives but we remained committed to responding to the insights and learnings we were uncovering so that whatever product emerged would authentically address the actual Jobs To Be Done and needs of each customer.

Additionally, this project was working within the Lafley business strategy framework as well as Stage Gates as outlined in The 4 Disciplines of Execution.

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Sample Stage Gate Framework

Team

Toni Rosati – Lead Researcher
Ashley Margolis – Researcher
Matthew Davis – Product Manager
David Whited – Consultant
Veronika Goldberg – Designer

Process, Research Design

We had to make sure there was a market for this in order to determine what “this” might look like. We conducted Jobs To Be Done interviews with coaches and coaching clients about money conversations in the coaching context.

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We conducted a competitive analysis of the landscape of financial coaching, Christian influencers, and budgeting products before interviewing and surveying a target market (young married women) about how they have handled money goals and challenges.

This research was brought to two Google Design Sprints (the first How Might We statement and resulting prototype bombed in initial testing). It is important to fail fast and recover gracefully. 🙂

Key Findings

Our research shows that coaches are uniquely positioned at the frontlines in support of Thrivent’s Wise With Money strategy to help people grow beyond consumerism and intentionally live according to their personal values.

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However, coaches do not intuitively know the Wise With Money mindset and are not yet equipped to detect where a client is on the Wise With Money Journey. Therefore, they need education and training in order to become a guide someone on the journey.

Additionally, we found coaches often need to be aware of their own Wise With Money Journey before they can feel comfortable and confident to coach on it.

When presented with questions and solutions about financial coaching of any kind, coaches have a difficult time seeing past their preconceived notion of “money” or “finance and initially think of tactical strategies like budgeting and debt reduction.

Results

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Missing Peace is a continuing education class that can expand a coach’s awareness of the influence money has over the emotions and relationships of their clients. The course is intended to be more than just tactical financial coaching or budgeting skills. It uses the coaching posture to help coaches ask powerful questions that can unlock insights and create growth in their clients.

Coaches are required to earn continuing education units throughout their careers. By partnering with ICF credentialing bodies, Thrivent will create more trust in the course from coaches, reach more coaches than marketing on their own, and allow the coach to utilize this credential to build their business.

Our research shows that “pure coaching” (questions only) vs blended coaching (blending pure coaching with consulting, mentoring, teaching, or counseling) are segments that will adopt the Wise With Money Mindset in very different ways and may need to be messaged uniquely and equipped differently.

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See the final landing page here.

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