My education was in health and kinesiology, my original plan was to go into sports therapy. Needless to say, I didn’t know all that much about owning and operating a business, but in my gut it felt like my calling. “Time to figure this out, just not sure how,” was my initial thoughts. There are a lot of resources for free out there, tons of information on the internet, but what I wanted was someone to actually help me.
You know what I mean when I say, “I don’t want you to tell me what to go do, I want you to do it with me and help me execute.” Jim entered the picture and the offer was on the table. He ran a similar business to mine, had contracts with some of the same companies for different products and if I moved to Seattle, he would help me build my company as he had only nearly 8 years earlier. I was 23 at the time and adventure was my middle name, yep, I went.
In exchange for his guidance and consulting, he received a monthly kickback from my revenues after I was up and running. I hated the rain, so I moved back to California and the relationship continued. I look back often and still see so many areas of that business that he and I both could have done more, but as always, hindsight is 20/20. A total of two years after my launch, I sold my company for a small profit, Jim earned a little of it as well and I was off to my next adventure; Real Estate.
Again, I hired a coach, this time I paid him on a monthly basis to guide me through the processes of investing and property scouting, joint venturing, fixing and flipping, holding and leasing, on and on. I got started in a mortgage off and had a mentor that taught me how to finance properties. When I got that down, I headed to the streets and began buying foreclosures.
Each week I had a meeting via phone with my coach and talked about the deals I was considering and the status of pending projects. Together, he helped me invest and purchase over 20 single family homes in less than a year and a half. It was a very exciting time in my life, extremely rewarding and when I think about it now, the couple of thousand bucks I paid him every month, netted me so much more in overall income, but also experience. Would I hire a coach again, even though I have already done it? ABSOLUTELY!
Being inside your own business or inside your own project, it is impossible to see all of the moving parts that can be improved. Even now, I own several eCommerce businesses and I still utilize a mentor to help me improve areas that I cannot see from within.
I ask you today, where is your business right now? Where do you want it to be in the next 12 months? If a coach could help you get there, wouldn’t it be worth it? In my experience, I found this: if a coach cost me $3,000 a month, but helped me make an extra $10,000 a month through is guidance, isn’t that an enormous value? You’re damn right it is. Don’t be fooled by the cost of consulting for your business, my last coach cost me over $10,000 and taught me a lesson that had already cost me $15,000 before I hired him. If I had bit the bullet prior, he would have saved me an extra $5,000 not to mention all of the future profits earned from not making that mistake again.
Think about your businesses position right now, you can make a coach an important and profitable addition. Don’t wish you had more coming in before you pull the trigger, allow your coach the opportunity to make you more money than he charges. It’s really that simple.