PUT ME IN COACH!

When we get a call or email asking questions about our coaching programs, the people enquiring are already to the point where they know the value and benefits of hiring a coach so most of this episode is for those who don’t think they need a coach or don’t think they can afford one, for whatever reason. I’ll also try to clarify what I mean by coach, because there are different types and forms of coaching and not all of them are right for everybody. 

The first, and probably one of the most valuable reasons, in my opinion, of hiring a coach, is simply accountability. There are all kinds of different coaches in the world. Some are business specific, some are what are called ‘Life Coaches’, some are sport specific, some are spiritual coaches, and some are called personal trainers or fitness coaches. They come in all shapes, sizes, and flavors and exist for a bunch of reasons! One of the biggest reasons is simply accountability. You can literally hire a coach who will call you every day at a certain time and make sure you are out of bed. You can hire a coach who will call you every week and tell you positive things about yourself so that you can work through negative self image issues.

There are coaches who will help you with your finances, your business, your diet, your exercise plan, whatever it is that you’d like some accountability in or on, there is a coach for that. What I wil say for most people, however, is that its not necessarily the accountability that is the main problem, the main problem for most people is that they think they’re already super disciplined and not really in need of accountability at all. The biggest issue is getting most people to even recognize the value of accountability and the fact that they probably need it. Of course, there are people out there who need little to no accountability because they are super disciplined in some area, but to get to the next level in that pursuit is often where the coach comes in. The average person, however, is in dire need of somebody or something to be accountable to if they want to move forward in some area of life and business. Most people, myself being one of them, need something on the calendar to make them get in gear and get some things done. And most people also need something compelling that they are accountable for, like homework, another person, or a powerful set of goals to push them out of their comfort zone and into the next move, so to speak, to get things accomplished.

As I mentioned earlier, there are a variety of different kinds of coaches and not all of them are accountability coaches. Some of them simply exist to give advice or guidance in a particular area, some exist to be a sounding board, and some exist to teach very specific things like puck handling in hockey, or gait modification in running. If you know you need somebody to be accountable to, however, then a coach or coaching group is most definitely something to look into. I’m also going to say this now and then I’ll repeat it over and over throughout this episode, not because I want or need you as a coaching member, but because its one of the most often repeated comments in conversations about coaching programs.

The most common question to people like me is, ‘how much does it cost?’, or comments like, ‘there’s no way I can afford that right now, but I’m going to do it when I get this, this, or this done…’ To those who have made this statement, or, to those who are already paying for some kind of coaching and know the benefits, the real question is not ‘how much is it’ or ‘not sure If I can afford it’, can you afford NOT to do it much longer? Bill Gates, Eric Schmidt of Google, Oprah Winfrey, they all said exactly the same thing: “everyone needs a coach!” The billionaire investor Paul Tudor Jones, worth a whopping $5 billion dollars, pays Tony Robbins $1 million per year to be his personal coach. They email every day and see each other in person quarterly for a multi hour meeting. Here’s a guy who seemingly has it figured out and yet, he pays $1 million per year plus some percentage of his earnings that year to Tony Robbins to help him. He also credits Tony Robbins for helping him get back on track and figure out what it is he does best so that he can do more of that and he also credits Tony Robbins with helping him recover when he was down. He sees the value and recognizes the need to have somebody like that to be accountable to. Paul Tudor Jones is a billionaire and can afford pretty much whatever he wants.

There was a point, however, where that was all in question. He didn’t hoard his last few dollars hoping for the best, he recognized the need to spend and credits that decision with helping him get back on top with his investment strategy, which is why he continues to pay what he pays, and has been since 1997. The question is not can you afford it, the real question is ‘can you afford not to?’ It’s a question only you can answer and it depends, of course, on what you want to accomplish and who you want to hire. I offer the question simply as a way to take a potentially limiting question and turn it into a question that HAS to be answered!

The second reason to hire a coach, and from here on out I am going to add the word ‘good’ prior to coach, because I believe it’s imperative you find a good coach for whatever area you’re wanting to advance or grow in, so the second top reason is simply to have another set of eyes. A good coach can simply help put another set of far more objective eyes on your situation, your proposed scenario, your life and business plans, and your ideas.

Quite often, we try to use our closest friends and family members to bounce ideas and plans off of and, unfortunately, those closest to us, as objective as they may think they are, will always have some vested interest in not being completely objective. They cant be. Your friends want to stay your friends, your spouse wants security and intimacy, and your family sees you differently than a coach does. The second reason to hire a good coach is to always have that second set of very objective eyes on your thoughts, plans, ideas, and goals. It is invaluable to have an objective person willing to tell you what you DON’T want to hear on any given day. We all have people around us who will tell us what we want to hear, very few people have those who will tell them what they don’t want to hear. Because you’re paying that person, however, they are more than happy to tell it like it is and you have to listen. You don’t have to necessarily follow your coaches advice, but because you’re paying for that advice, you’re more likely to see the value in hearing that thing they they’re telling you.

And this leads me to the third reason to hire a coach which is to put your money to work for you. You see, there is something special that happens when you invest in yourself. When you spend your ‘hard earned’ money on something like a new computer, a tablet, a watch, a car, or coaching, you go out of your way to justify the investment. In fact, somethings that have no business whatsoever being called ‘investments’ will be called that by you because it’s easier to justify the expenditure by doing so. You’ll say, ‘honey, you don’t understand, this $2500 Peloton bike is an investment in our health! Sure, we could join a gym at half that cost and we could ride our bikes in the spring, summer, and fall, and we can walk around the block, but this is different! This is an investment that will save us money, it will save us in future health care costs, it will make us more motivated, and it will probably help me earn more money this year because of how driven and how ripped I’ll become! This thing will pay for itself!’

Do you know how I know that that conversation is said every day by somebody making some purchase? Because I’ve said it myself dozens of times with a variety of purchases. Some of them were good investments and some of them actually did make or save me money, and some of them were just flat out throwing money away because I wanted that thing. The thing about me spending my money on it, however, is that I did my best to make sure that thing paid for itself in some way, and that may have been simply in doing the math on how much the purchase saved me in another area. It may have been justified in the motivation it gave me. It may have been justified in the accountability of having that thing. Whatever the justification was, it was on me to get the value from that investment or purchase. When you make an investment in a good coach, a good coach will help you make that investment a good one, with your help, of course. The coach cant do the work for you, but a good coach will help you justify the investment by giving you a more valuable return.

As an example, in our coaching programs, our most popular program is our Level 2 small group coaching which runs a ridiculously low $500 per month. I say that because the bulk of our members are real estate appraisers and the average appraisal fee is right around $400. That means for roughly the cost of 1 appraisal, our members get 2 touches per month in a small group setting, 3-4 people per team. There are some assignments and some homework, some lessons and some awareness exercises, and theres tons of accountability.

A similar program I’m a part of in another industry is a whopping $3500 per month, just to give you a idea of context. However, regardless of the investment, what I tell coaching members is that we shoot for a 5X return on your investment to make it worthwhile. What does that mean? It means that Paul Tudor Jones looks for a $5-10 million return on his investment with Tony Robbins, I look for an $18,000 return on the $3500 monthly investment, and members of our level 2 program should look for a $2000 per month return on their investment with us each month. Now, how do you quantify the return? It can be quantified in a multitude of ways, many of which have to be taught to people so that they know what to look for.

The return may not come in the most obvious way; an increase of $2000, or $18,000, or $5 million in income from the investment in a coach. No, the return usually comes in a variety of ways. One of them could be an actual increase in business. Part of your return may come in an increase in time added to your day due to efficiencies created by the coaches suggestions. They may come in the way of gaining entry into a new market or type business that you didn’t have before. The return may come in the form of greatly reduced anxiety and fear of the future based on the plans and goals a good coach helps you formulate and implement. It may, and often does come, in the form of better communication and relationship with a partner, your spouse, and your staff. And one of the most often overlooked forms of return on investment in a good coaching program is what it would have cost you in effort, years, and trying to acquire the insight, knowledge, and experience that the coach brings.

You see, a good coach may not be the absolute best in any particular industry and that shouldn’t be your criteria for choosing a coach. They should be really good at what they do though and they should be able to provide a level of expertise in some areas that you simply don’t have. Paul Tudor Jones is a far better market reader and investor than Tony Robbins, but he has Tony look at his portfolio daily to give him his insights and thoughts. Its that second set of eyes and the deep probing questions from Tony that he’s paying for. Oprah Winfrey is a far better tv personality and producer than her coach, but she pays an extraordinary amount of money to have one guide her anyway. Eric Schmidt is a far better CEO than his coach is, but he pays an extraordinary amount of money for one anyway because the return for them far exceeds the investment.

The important thing to note is that, when you add up all of the past costs of struggling to get somewhere and maybe not having the successes you desired, the anxiety, fear, and depression some experience as they struggle each day, the cost of not pushing into new markets, doing those presentations, doing the necessary prospecting or networking, not having any accountability, the costs of lost trainees and hires, and the plethora of other very real costs, finding a way that your investment in a good coach can return 5 to 10 times your investment becomes rather easy.

And again, to be very clear, I don’t say it to impress you into our programs, I say it because it’s important to know the value of investing in yourself in this way and that, when you do, you’ll go out of your way to make sure you get a return! That alone makes almost every investment in a good coach worth it! Are you hearing me? Its not the coaches job to ensure you get your money’s worth. Its YOUR job to do that and when you invest good money in yourself, you’re more likely to do the work, track your numbers, follow the guidance, look at yourself in the painful mirror of honesty and self reflection to acknowledge areas you may be weak in, go give the presentation, put important things on the calendar, do that thing you’ve been talking about for years but haven’t done yet, and essentially get off your ass and into becoming the you you keep talking about. When you hire a personal trainer, it’s not the trainer lifting the weights. They are there to teach, guide, yell when appropriate, inspire to some degree, but ultimately be your accountability partner on your road to increase. You have to do the work and hiring a coach is quite often that last step, that last commitment that one makes toward increase. Up to the point of putting your money where your mouth is, most of what people say they want is just that, what they want some day but likely will never make the investment to achieve.

Its like the joke that says, ‘I was going to join a gym this year but want to wait until I get in shape before doing so!’ Sorry Skippy, joining the gym and paying the fee is the first step. Then you show up. Then you do the work. Then you show up again. And you keep pushing and doing the work consistently day in and day out. And it never ends. The work begins and ends with you and your investment is what helps fuel your motivation to get a return. Of course, its paying the coach for their time, expertise, experience, and insight. But most coaches will tell you that the biggest benefit of charging money for the guidance they give is that it’s the fastest way to getting results for the client. Without the investment, there is no reason to look for a return and no real reason to do the work. Everything is optional at that point. Put your money to work for you and hire a coach! Don’t wait until you think you can afford it, you’ll never get there. Hire the coach first, they’ll help you get to the point where the money is an afterthought and where you cant imagine life before. The right question to ask is, ‘how much has it already cost me NOT to hire a coach?’

The fourth reason to hire a coach is clarity, or, said a better way, clarity of purpose. Clarity of purpose is one of the most costly issues for most people, whether they know it or not. Many people think that they’re right where they’re supposed to be simply because that’s what they’re doing at the time. Some never question what their purpose, their passion, the thing that drives them, is because they’ve never been taught to. Sadly, many people never ask because its too painful to even consider thinking about what they really want to be doing because they don’t think there is any way they’d ever be able to pursue that thing. While this may actually be true for some people depending on what their true core purpose is and what they desire to be doing, not even entertaining the notion or delving into what that thing is is a very sad thought. Life is far too short to spend it doing something you don’t truly enjoy.

Further, not even entertaining the questions or the ideas that can help you become very clear about that purpose is sadder still. The number of people who go to their graves with their passion and purpose never discovered is innumerable. The number of people who go to their graves with their passions and purpose discovered, but never pursued is right up there! A good coach can help you uncover that purpose so that there is clarity around it. We are working on clarity in almost every coaching call, regardless of the level of calls. It doesn’t matter if I’m working with a wealthy CEO one on one, or a group of brand new business people, clarity is always the task of the day. A good coach will ask the right questions to help release from within you the answers that lead to clarity. What you do with that clarity is completely up to you.

A good coach may help you get very clear that your core purpose is to help others, or make something that lasts in the world, or even coach others to help them get clarity. Whatever it is that’s uncovered can then be processed and analyzed for how it can be pursued or implemented into what you already do. Quite often people fear even delving into this topic for fear of learning that they want to do something completely different. That thought, for many, is simply too much to process because it would mean taking massive action, tearing down some walls, leaving something, heading into some unknown, maybe disappointing someone, and a bunch of other things that are simply too painful and scary to think about. Well, I can tell you, as can many others who have had multiple careers and pursuits over their lifetimes, that it can be scary confronting things that are initially unwelcome to us.

We love to be comfortable in our routines and we’re a pattern seeking species. We find a routine and something that seems to work for us, usually based on income needs or something somebody else told us we should try, and we ended up staying there for far too long. Of course, I’m not encouraging you to quit your job and pursue your bliss, I’m simply saying that a good coach can help reveal clarity of purpose for you which, for most, is worth exponentially more than what it might cost to be helped into that clarity. A good coach helps you shed the layers of the onion, so to speak, to reveal what it is you may be better suited to doing, OR, how you might change how you’re doing that thing to make it more congruent with your core purpose.

The fifth reason to hire a good coach is to help you move through and out of limited thinking. Regardless of how positive you may think you are on any given day, we all have blind spots in our thinking and areas we simply cant see because we don’t have perspective on ourselves. A good coach can provide that perspective and will let us know where and when we have shackled ourselves to a thought or idea that may very well be limiting us or costing us a great deal. I can tell you from experience working with literally thousands of people over the past 25 years, whether as an employer, a teacher, a coach, a sensei, or even as an employee, one of the biggest detriments to most people is themselves. You know the saying that we are our own worst enemy and it’s a saying because its true.

Most people, myself included, don’t see our own limitations. If we did, they likely wouldn’t be limitations. Although, for many people, they know their limitations and the mindsets that keep them stuck, yet they don’t have the path, the plan, the pattern, or the push they need to get unstuck. That’s where a good coach comes into play. A good coach will typically interview, ask important and specific questions about mindset, beliefs, how you respond to certain situations, what you think about certain things, and generally get a good picture of where you limit yourself, yet justify it with phrases like, ‘that’s just how I am’, or ‘that’s what I got from my mother’, or ‘I’ve just always been that way, take it or leave it.’ Its much easier to make other people change for our benefit than it is to be shown our weaknesses and limitations and then have to change them.

This is one that will be flipped and talked about in the episodes about reasons NOT to hire a coach. If you’re not ready to have your weaknesses and limitations pointed out, you’re not going to do the work to change anyway so best not to waste the coaches time. Forget the cost, you’re going to blow the money on something anyways so it’s better to think about your time and the coaches time instead of the money. Your limitations and limited thinking are costing you 10, 20, maybe 100 times what you’re making now so if you’re not ready to have your thinking patterns exposed, don’t bother. And a good coach will typically tell you that fairly quickly into the process.

 Click here to check out part 2!