Business/life coaches

[curiousandcurio]

Hi all.

Just wondering if anybody had experience with business/life coaches? I see so many of these sponsored posts on social media claiming to change your life to set up 'passive income' streams to earn huge money. All you need to do is that pay £500 for a course with the coach and they will show you how to ha he your business/life. Then it seems like you then start your own coaching course alongside your business to teach other people how to start courses. What the hell are these courses that people are paying this money for.

There is one coach in particular who seems to be having 5 figures months consistently but I read an article about her recently and she rented a house and didn't seem to be living the life she proclaims she has on social media.

Aibu to think this is all bullshit or has anyone made money from signing up to one of these coaches/courses?

I know some friends have found them useful, but they have always been coaches made available via their employers.

I have a friend who retrained as a coach (has spent £20k+ on it). Ive done a few sessions with her and found it painful - I really didn't see what the value was or how it would help me. The session was basically about how I had the wrong 'mindset' (what I thought was reality) and that's why I'm not earning £300k around school hours only. .

Sounds to me like a MLM-pyramid scam. Pay your £500, get told to put out an ad saying you are a life business coach, lure in more unsupecting people, collect your £500 payments, send people away to do the same. And repeat.

I do know one successful coach. She had a successful niche business and I imagine if you were interested in her industry it would be well worth investing with her. Even for her though, despite apparently earning £400k+ a year she rents and seems to spend all her money maintaining a Hermes type lifestyle as a way to promote her business.

The adverts you see online are for pyramid selling DO NOT CONTACT THEM.
Business coaching is entirely different - you can find accredited coaches online, but honestly they are often a waste of time (I have fiends that are coaches - utter shambles)

If it sounds too good to be true then it probably is... I work in learning and development for a large multinational firm and have been doing business coaching for c.10 years. In my experience most coaching training costs anything upwards from £3,000 and this would include the costs of classroom training, online learning, work with practice clients and supervision. The company should also be providing coaching training and tell you what's included in their modules in the same way as any other training course would. Any reputable provider would also be accredited by an appropriate industry body such as the AoC, EMCC, ICF.

Is renting free then?

I use a coach every year and have a very successful business

To give you an idea of rates - when we used to hire external coaches, we used to pay them £400-£500 per day to coach graduate level. If you're coaching senior leaders then the fees are much higher and breaking into this relies on you having a good network or having worked at this level yourself. I don't recall any of them ever posting on social media with cars and handbags etc as they'd look weird and unprofessional.

I can make your life better with £10.06

www.amazon.co.uk/Subtle-Art-Not-Giving-Counterintuitive/dp/0062457713?tag=mumsnetforu03-21

A book that provides more clairity in this mad world than any 'life' coach. Who probably has never 'lived' and knows nothing.

A good friend is a business/success coach and she does amazingly well.
She coaches you to develop your own business and helps you get your mindset and strategies straight.
She's helped lots of women and will say if you're not a good fit for her style.

She coaches you to develop your own business and helps you get your mindset and strategies straight.

What overpriced products does she flog? Aloe Vera?

I think a good rule of thumb is that proper business coaches don't use hashtags #smashingit #bossbabe #beingthebestyou

Or say mindset.

I've just a business coach for help with CV and interviewing technique for C-level roles. I found him really helpful and worthwhile, but he was a personal recommendation. They can be expensive (I paid around 1.5k GBP) but increased my earning power and made far more than that back in the next jump up the ladder. I wouldn't use one from an advert though.

Echoing what the others have said. Be very careful with this, I have a friend who presents herself as a life coach when it's actually a cover story for her MLM pyramid shit.

A good indicator is to look at their Facebook and if you see inspirational quotes every day #stay away

hmmm this is something I'm currently developing. I do have a successful online business selling gifts, toys, books on Amazon and genuinely earn a full time wage in about 25hrs a week from home. Strictly no MLM as I hate that unethical fake approach. Many friends have asked me over the years to teach them the ropes so I thought I may as well charge for it, as there is skill and expertise involved. I've nearly finished the online course but it has taken me months to do. Would people consider this a scam as I'd be mortified if people thought that was the case?

I'm honestly just keen to teach others how to do what I do as it fits perfectly around kids etc. There is a lot of risk, hardwork and some inital stock investment needed though and I make this clear.

First year turnover for me was 250k so I thought £500 is a reasonable price to charge for my course.

Totally understand that professional coaches exist in specific areas. Banking & Finance, education etc where a company will put employees through sessions and can be a great training tool but I'm talking about the coaches that seem to be pushing the narrative of making money by sitting on your arse whilst people download some pdf course you've made costing £500.

They seem to be preying on small business owners with the promise this 'investment' will change their life and business. Purely interested to know if anyone is now very successful because of one of these coaches.

And yes I'm sure these coaches are successful and making money, I'm more interested in the people they are coaching (bullshitting)?

Business coaches give you the tools to improve what you do. They don't provide magic money out of thin air. You end up working harder to get where you want to be.

@Smeegler genuine question, why would you want to teach others to set up businesses to compete with yours?

Thats what I wonder @curiousandcurio

I buy in mentoring and development support for myself through my employer costs about £150 every 6 weeks - it’s amazing - she makes me feel like I can take on the world but also provides me with practical tools and tailored support
It’s given me more confidence - helped my discover my strengths and work on my weaknesses

Just need her help to sort out my personal life now.............only joking

Because the market is so large on Amazon that I won't feel the difference, 80,000k new sellers sign up a year. But the money I earn from the course sales will be reinvested to grow my business quicker, faster, which compensates for any marginal impact on my business from new sellers.

A first year turnover of 250k - wow there is no need for you to even consider coaching to supplement it
That is amazing - seriously never heard of those sort of sales in year 1 - I would just concentrate on your business and ignore anything else!

Avoid.

I’m in a senior role and would have always worked in a mentoring capacity, once I had enough experience. I became a qualified coach with an accredited body (EMCC) a few years ago because I wanted to be able to work with some organisations where it's advantageous. I don’t do a huge amount of coaching (I work fulltime in my actual job, and have a sideline hobby that generates income), but do get a lot of referrals through organisations like the Institute of Directors etc.

I do a lot with women, in particular. Usually those aiming for a CXX type role. Lately, I’m increasingly working with women who are returning to senior positions after absences (maternity leave/time to be a SAHM/had to take time out due to stress etc) who feel like their confidence has taken a knock.

It’s lucrative and interesting, but I’d never use a coach who wasn’t more successful than me! Someone flogging coaching as an MLM will waste your time and take your money.

Executive coaching isn’t about hashtags, it’s about working with someone who has great potential, giving them a steer based on your experience, and working with them to get them over humps.

I’m also a qualified mediator. I never do family stuff- always workplace and corporate. Nothing to do with coaching at all, but I really love it.