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Help! How Do I Set Up Coaching JV Style?

by ginandtonic
5 replies
I stumbled upon someone who is willing to coach me. Unfortunately, I can't afford what they're asking, so I offered them a smaller amount of money as a "down payment," and a percentage of my profits up to a certain amount (higher than the original amount).

I think this is a win/win deal. I get a coach that I can afford and that is financially interested in my success, and my coach gets more money in the end.

Unfortunately, I have no idea how to logistically set up a payment plan. I would be receiving payment through paypal. The easiest way would be for me just to pay him the correct amount for each order, but if I were him, I don't think I'd go for that arrangement. Is there good way to do this?
#coaching #set #style
  • Profile picture of the author ebusinesstutor
    Unfortunately most coaches would not do this. Not everyone that takes coaching is successful as people have different skills and time to invest in their project.

    Unless you have a truly unique business idea and some track record that you would be able to show, I don't think you would get any takers.
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    • Profile picture of the author Mike Hill
      I would arrange to pay him once per week and ask him for suggestions on how he would like to track the sales.

      Mike Hill
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  • Profile picture of the author ginandtonic
    He's making claims of making sales pretty quickly, so I feel like I'm just asking him to put his money where his mouth is. I have a couple sites up and a previous coach I could use as "references."
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    • Profile picture of the author Kay King
      Big question is - has the coach agreed to your "offer"? You don't say if this a "deal" or simply an offer on your part.
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      Saving one dog will not change the world - but the world changes forever for that one dog
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  • Profile picture of the author ginandtonic
    It was an offer, and he ended up declining it, claiming it was too risky on his side, and while I don't like that that's the case, it's probably true. It would be very easy for a student not to follow through, leaving him with a lot less than he should have. I decided to ask for a money back guarantee contingent on weekly reports of my work. It follows the same spirit of delivering results while still offering me some sort of fallback, and it removes a ton of risk for him.
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