Wondering how to become a business coach affordably? Maybe you’re looking at high-ticket items like expensive training or even considering purchasing a business coaching franchise. But before you plunk down a pretty penny on your dream to become a business coach–here’s some advice for doing it much more affordably.
Ben Settle sent out an email last month that precisely expressed, more articulately than I have…
…my own sentiments about what’s wrong with selling outrageously expensive coaching and training programs online to newbies:
“I’m not a big fan of high ticket coaching and masterminds that are targeted to people who are newbies, desperate, or don’t have the money, experience, or the knowledge to put the info into
“Even with my own products, I tell people not to buy if they have to go into debt over it. They should get their financial houses in order first.”
I applaud Ben’s ethical and sensible stance here. He explains that his objection mirrors his own experience as an info products buyer when he was a newbie:
“I simply didn’t have the money to afford all the high-priced stuff. I started with low-priced books like Dan Kennedy’s Ultimate Sales Letter, for example, which was like $8.
“Then, when I was able to afford it (using money earned from applying what I learned in the first book), started spending money on the more expensive stuff.”
On the other hand, my friend HK points out that some people have spent their last dime to attend training on a money-making venture they really wanted to pursue, learned it, applied the
learning — and became spectacularly successful at it.
I know this is true, as several of my readers and students have achieved precisely this kind of success.
The problem is, they are outliers. As for the rest, most of the people who spend $5,000 for a training never recover a fraction of the investment, if any. (Let alone $100K+ for a business coaching franchise!)
If you are interested in a topic and a guru, here’s the order in which you should acquire his or her knowledge:
>> First, read and get all the free stuff only — their e-newsletter, free ebooks, free special reports, online articles, blog, free webinars.
>> Second, most gurus have one or more conventional paperbound books, usually selling for around $15 new, a few bucks used on Amazon, or available free at your local library. These books have
much the same content as their $200 multimedia home study course or even their $1,000 coaching.
>> Third, when and only when you have exhausted the free and low-cost supply of the guru’s content, then move up to one of his more costly paid products — but just one to start. And always
make sure there is an unconditional money-back guarantee with a 30 to 90-day return window.
Do not fool yourself, like many students at Ivy League universities do, into thinking that a higher price automatically means better content, better learning, and better results.
It’s like Matt Damon’s character explains in Good Will Hunting to an obnoxious Harvard grad student: “You’re spending $50,000 for an education you could have gotten for a dollar-fifty in late fees at the public library.”
By the way, one of those FREE resources you should check out is the Coaches’ Coach fantastic ebook for starting business coaches, How to Become a Business Coach. Enjoy!
This post is brought to us courtesy of Bob Bly, one of the best copywriters in the business. Here he shares that one of the best ways to close business coach clients is to pay attention to the timing. Check out his Direct Response Letter for more gems like these.