Question for the coaches out there

1. Most people never follow through with what needs to be done, which means the coach loses money and time training someone who is just going to vanish.
2. As a customer/student, if you're going to be successful at something (eventually), why would you want to be a servant to someone else, having to give up a portion of your hard work and creativity just because you agreed to "free" coaching?
3. How would this ever be fully enforceable? How would a coach know EXACTLY what sites and projects the student is currently working on?

This sounds good in theory.... The problem, however, is that the person doing the coaching can end up spending (wasting) a lot of time helping students who are great at asking questions, but terrible at actually implementing anything. Those students don't end up making any money, and neither does the coach. That's a risk a lot of coaches aren't willing to take, and understandably so.

Also, investing money upfront serves as motivation for the students (not all, but most). Without an upfront investment they're essentially getting coached for free, and that scenario often doesn't play out well.

So you basically want a coach to teach you everything he/she knows, at no risk to you whatsoever, and to keep what earnings are made for a given amount of time.

Get real. No decent knowledgeable coach worth his salt and in the right frame of mind is going to do that. Absolutely no-one. Why should they when they may as well do it for themselves in the first instance, and keep their own profits.

Here's what I suggest you do:

1. Work in your day job and save your money up until you have enough to afford the services of someone who can assist you in the way you desire.

2. Stop asking dumb questions on here.

In that situation there is more of a risk for the coach than there is for the student. Also, there isn't much motivation for the coach to commit himself to coaching a student who isn't willing to invest in the knowledge that the coach is going to share with the student. Therefore, it wouldn't make sense for the coach to accept that offer. A successful marketer doesn't need to put himself in a situation where he could lose his valuable time if the student loses motivation or decides to quit half-way.

Then you aren't going to get a good coach, because a good coach should find out the best possible prospects for you based on your innate skills and abilities / hobbies etc ...

I mean where's the passion in your approach? ... if you were building a business you were passionate about with the help of a coach; wouldn't you want to reap the benefits? wouldn't the initial invest feel MORE rewarding and worth the cost? I think it's a matter of knowing where to tap, “The Boilermaker Story” when it comes to having a coach / consultant (a good one that is)

Some people are people helpers by nature and make natural coaches / consultants, what's it worth to you for them to help you realize your dreams (if you're ready to put in the necessary work).

Honestly, that's exactly what I USED TO do with my students on a 50/50 split to start, and then I gave them a bigger percentage as they needed less of my time. You can find my story somewhere in the first few pages of this forum. But what I learned time and time again was that people really weren't looking for independent success...they were looking for a paycheck. On average, 97% ended up quitting before making any serious money because they were all like, "Holy S&#t...this is actual work!" Then it wasn't appealing to them anymore.

So what you're asking someone to do is essentially impossible if they want to continue making a solid living. As far as guaranteeing that someone will be successful though, that is an outright lie. NOBODY can make those guarantees because we can't force you to take on an entrepreneur's mind set and make yourself successful. Because it's not what I teach you....it's your desire to succeed. And I'm telling you right now, 97% don't have that drive because it's easier to collect a paycheck and answer to a boss.

There is one flaw in your plan. What if the price tag of coaching is, for example, $500, and what if the student is learning high-level information that yields $1,000, $5,000, or more throughout the duration of coaching? Granted, this is not the norm, but take domain flipping for example. One halfway decent flip of $1,000 would end up costing the student twice as much. And then what about any number of other coaching areas: affiliate marketing, virtual world product creation, app development and sales, website flipping. The reason most students join coaching programs is to learn high-income methods. If the student earns that high income whilst being coached, or sometimes even a fraction of what he may go on to earn, then he's paying far more for coaching than he would otherwise. This is why the norm in coaching is an upfront price tag. I applaud your out-of-the box thinking, though. We could do with more of it around WF.

Tom

The only problem with coaching is that..

Usually it's experts who coach people (And because they are experts..)

They value their time more, and charge more

Wow Wow this is really out of the Box but what all is being said here is very true. Myself I was giving my students a method and when they earn they pay me. Some students are good but some are lazy. on upfront you would not know a lazy student from a serious one. The prices are placed to select the serious students and still you might end up getting some students who are not action takers. Now what we coaches have developed is a guarantee where we say if you take actions and follow through and not make back at-least your investment we are willing to refund 150% back so its a win win. Some times students expect magic to happen some harry potter secret to be revealed by the coach that will make money overnight, that's not part of the game. Online business is as good or bad as offline business.

I use to sell religious books--on health, family, children Bible stories etc.--from
door to support my college education. These books costs twice as much as
comparable books in stores. Because I made a commission on these sales, I
was concerned that they were so expensive and people wouldn't buy. But
the directory of the program told me that the books were that expensive
because they were well made (which was true) but people would read them
when they paid that amount of money for them.

Somehow people generally do not read cheap books.

-Ray Edwards

I don't want to be harsh but the model you're suggesting 'sucks'.

1. This would encourage procastination
2. There's no skin invested. If you've coached long enough you'd know that the higher the fee you charge, the more likely they will take action.
3. A lot of wasted time from tyre- kickers.
4. The high fee is not for the mentor. it's to protect the paying client from his own laziness. Seriously, if you're paying $997 to $3000 a month for coaching, the last thing you'll do is sit in your ass and do nothing.

What I do instead is aside from the coaching or consulting fee, I also charge them 5% of the total revenue generated from their business. That way, I'm every bit as inclined to make them succeed (more money for me) instead of wasting time with people who are all talk.

Think about it ... If they won't even apply what they learn from a $7 ebook, what makes you think they'll apply what they get for free.

I've been a member of the warrior forum for over 5 years but still class myself as a newbie, I know a bit about IM but not enough to make money, I've enrolled with various coaches over the years had some good experiences had some negative ones. I've taken about a year out for various reasons, this thread did kind of grab my interest though. I had a discussion with a fellow warrior about what I was looking for in a coach. This is a tidied up version of what I arrived at.

From my experience the biggest issues for a newbie are:

1. Getting started, there is so much to learn so many methods, which one to choose etc.
2. Niche selection, that one brings so many issues, which one to choose, is it profitable will I make money out of it what to promote, how to promote it etc.
3. Getting started making money

These are the reasons newbies look for coaches. For me a coach should add value, they shouldn't try to sell you something after you ante up for coaching, that happened to me once, was not impressed. Typically coaches will get you to sign up for a month, I feel that a coach should do the following two things.

1. Look at the student's skills
2. Look at their budget

From these they should find a method that will generate enough revenue to pay for the coaching, within the first month and is repeatable. So going forward the student has an income and has got one of the issues out the way they now know they can make money. To aid this a coach should be able to provide help with finding the right tools for the student to succeed, i.e. sign up for get response and get a free month, xyz hosting offer a free month's hosting. Etc.

At the end of the month the student has two choices either sign up for another month or go and use the method they have been shown. I think most students once they have the confidence in the coach would sign up again.

In the second month the coach can charge a bit more as they have proven their worth and can start to look at more advanced methods

In my mind this is a mutually beneficial situation. Any comments?

I have to go with the people that say the biggest risk is that the student will not follow through. I sell coaching programs and I don't even offer a guarantee. I have no control over what the student does with the info I teach them. I even have people that pay my up front fee and never even take the first session with me. I used to "chase" students who didn't follow up on assignments, etc., but I often encountered students that had lost interest, were embarrassed to talk to me and so on. I don't know how the system under discussion would handle those kinds of issues. OK, thanks, Ed.

Any coach who can actually teach people how to make consistent money are not going to be the slightest bit interested.

Why would you work pro bono with a slight chance of getting paid when you have people waiting to pay you real money?

I've seen so many variations of this post that basically says,

"I am unwilling to invest any money, but you should invest your very valuable time in me, and if I make money I might give you a little."

Any takers??

i have actually done something kinda similar.

Through some crazy circumstances, i got into a situation where i was actually helping a fairly large number of excons make money online.

i chose to help them build web hosting businesses because that was one of the things i knew pretty well and i knew i could replicate. basically, we had everything setup to outsouce, and these excons would just go out to businesses and sell web hosting.

turns out they are some damn good sales people. but our deal was basically that once we got up to 100 clients we would sell the business. I had a bigger company buying out clients for $200 per client...so basically when we got to 100 clients we would split the $20,00... 50/50.

then one of the guys asked to buy me out so he could keep making money. he liked his business and felt he could do it mostly on his own. I felt he probably could and took a chance. i sold him my half (10,000 if we cashed out today) for 15,000 at 15% interest.

it turned out to be a very lucrative model that was very repeatable and probably still is today if i was so inclined to put in the effort. I had a surprisingly high success rate doing this given all the variables that you would think go into turning excons into web hosting business owners...lol

In my opinion, the only reason this worked out well was because i could let them do one single thing at first (sell) and then they had time to learn the rest.

trying to teach someone an entire business before they make money is just not that easy and i would never do it for most things.

but there are ways to do it, and it has been done.