There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know. – Donald Rumsfeld
Now, I am not trying to get political or anything like that, but the major point I wanted to get across is, “You don't know, what you don't know!”
Many times I have said, “Every doctor needs a doctor, every mentor needs a mentor, and every coach needs a coach”, but that's really just the beginning of the story. When I wrote my book, “It's Not About You, It's About Bacon”, almost 3 years ago, I had a book, but no clue what to do to market it. So, I hired a coach.
I had no idea what a coach was, what they did, or what to expect. Then I began to learn what I needed to know that I didn't know. I created a book launch event. I started to create products on the principle of the book. Then, I started to associate with influencers who could help me take my book to the next level.
That's when I learned what I didn't know and how a coach could help me!
What Are Your Weaknesses?
Frankly I thought I knew what my weaknesses were, but it took hiring coaches to really wrap my arms around them. What I thought were strengths (teaching, speaking and relationships) were just that, but they were being compromised by my weaknesses (money, BSOS – bright shiny object syndrome and systems). I did not know what I did not know!
Having that outside perspective really reshaped my thoughts and my business. My coaches (yes I have worked with multiple, even some at the same time) have really changed my focus and helped me to find places where I was weak and strengthen them in a way that I had no clue I could.
So what makes a good coach into a GREAT coach? It is ROI (return on investment). Every coach I have chosen to work with has been initially evaluated by this benchmark. Can I make more money than what I spend on this coach? Keep in mind that money is not the only measurable, but it sure helps if when you spend money hiring help, they help you earn more!
What really matters is how fast they can propel you and your business forward! It may not happen immediately, but still worth the cost of admission and efforts to open up the flood gates for potential and income! What really matters is how you propel your business forward!
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Why Hire A Coach?
That's a great question, but the bigger question to ask is how do you hire the RIGHT coach? Here are some of the things I have learned…
- Results – As much as you or I want to tie coaching to results, you have to look at it from this perspective … are you in a better place than you were before you started with the coach? I think it is fair that you should at least make as much money as it costs you. A break even is the least you should expect. If it costs you X, then you should at least make what you made before, plus ‘X', so you are not moving backwards!
- Future Progress – Can what you have learned propel you in to the future? I have seen people who I have coached make massive profits in months, while others have taken years. While we all want the quick fix, sometimes it just takes time. You have to measure what will work now, and what will take you some time to implement for the future! Again, sometimes break even is an investment, so just make sure you don't lose money!
- Intangibles – Saving money is often as valuable as making money. I have a client who was spending almost $2000 per month on wasted services, and hoped to make enough to pay for the cost of my coaching. Even though she has not seen the increase in income yet (she will if she continues with our plan), she has saved almost $20,000 per year by not spending money on false hopes. Sometimes you have to say that saving money is as important as making money. Have you ever spent money on promises that have 0% ROI? Oftentimes, stopping that can be even more of a value than making more money!
Marketing, like coaching, is an expense. However, it is an expense that can have some ROI (Return On Investment). If it sounds too good to be true, then it probably is! Do your homework, ask questions, get referrals and do the math. Can this strategy at least help you to break even? Is it worth your time and efforts? Will you be better off afterwards?
I will use myself as an example. I can honestly say that every coach I have paid for, and worked with, has paid for themselves, and I will recommend them whole-heartedly because of that!
Before, I could not imagine paying for coaching. Today, I could not imagine where I would be if I had not paid for coaching!
I would love to hear your thoughts and comments!