Investing Wisely in Your Business: Finding the Right Coach or Mentor

When is the Right Time to Invest?

One of the most common questions entrepreneurs face is knowing when the right time is to invest in a coach or mentor. The answer is highly individualized and depends on your specific needs and goals. Consider whether you need one-on-one support and accountability or if a group program, mastermind, or membership would be a better fit for your current situation. It's essential to assess your financial readiness and ensure that the investment aligns with your business goals and objectives.

How to Find the Right Coach or Mentor

The best way to find a reputable coach or mentor is through word of mouth recommendations from trusted friends, inner circle, and fellow entrepreneurs. These warm referrals can help you narrow down your options and avoid falling for the hype and empty promises often found in the online space.

Do Your Research

Before investing in a coach or mentor, take the time to do your homework. Opt into their freebies, listen to their podcast, attend their webinars, and observe their content. This will give you a good idea of their coaching style, tone, and whether they are a good energetic match for you. Be wary of coaches who constantly share insane client wins and promise overnight success, as this is often taken out of context and doesn't paint a complete picture of the entrepreneurial journey.

Reach Out and Ask Questions

Don't be afraid to reach out to the coach or mentor you're considering and request a sales call. Come prepared with your questions, concerns, and goals. A coach with integrity will be honest about whether their program is the best investment for you at this stage in your business. If they feel they're not the right fit, they should be willing to connect you with other resources or people who can better serve you.

Making the Most of Your Investment

Once you've found the right coach or mentor, it's crucial to approach the relationship with an open mind and a willingness to do the work. Remember that your success is ultimately in your hands, and a coach can only guide and support you along the way. Be prepared to invest time and effort into implementing the strategies and advice provided to you.

Conclusion

Investing in a coach or mentor can be a game-changer for your business growth, but it's essential to approach these investments with caution and discernment. By seeking word of mouth recommendations, doing your research, and reaching out to potential coaches with your questions and concerns, you can find the right fit for your needs and goals. Remember, entrepreneurship is a long game, and overnight success is rarely a reality. Stay focused on your unique journey and trust that with the right support and guidance, you can achieve the success you desire.

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Transcript for Episode 342. Cut Through the Fluff & Make the BEST Investments for You

Amy [00:00:04]:

Investing as a business owner is crucial in order to scale your business in order to achieve the success that you desire.

Amy [00:00:14]:

There will be times when it makes sense to invest. Today's episode was actually inspired by a listener. Her name is Jane. She's Hewow phase over on Instagram. And Jane recently submitted a question that really got me thinking. Her question was this, how do you go about finding a business coach or mentor? And then when is it the right time? So I want to dive into that, and I also want to unpack how to get the most out of any investment that you're making in the business. Here's the thing. Right now, the online space is very noisy.

Amy [00:00:59]:

It seems like everybody and their brother is a coach, a mentor, helping business owners grow, make millions of dollars on repeat, easily and effortlessly. Right? You attract those dreamy clients in your sleep.

Amy [00:01:13]:

You know, we've heard it all.

Amy [00:01:15]:

But at the end of the day, it's very important to remember to look at the context behind it. A lot of times in the online space, we're just seeing a little snippet of a little sliver about what's really going on. And we've talked about this in prior episodes, about the income based marketing tactics in the online space right now and how so often those are taken out of context, that we're not seeing the ad spend that's going behind these mass massive launches, that we're not seeing the number of failed launches that have happened. Heck, I even worked with a coach once that told me, oh, all you.

Amy [00:01:55]:

Have to do is just text yourself.

Amy [00:01:57]:

Or text your husband, like, random wins. And I'm like, but that's not ethical. That's not my client's success. So why would I create these bogus numbers? But the unfortunate reality is, this is happening a lot in the online space. So, Jane, to answer your question, how do you go about finding a coach or a mentor? And my number one way that I have always used is word of mouth recommendations. I always start asking my trusted friends, my inner circle, fellow entrepreneurs, hey, I'm contemplating hiring this. Who would you recommend? That warm word of mouth referral goes a long way, because now you're eliminating the step of, okay, this person sounds amazing. And then you start to put this person you're considering hiring up on this pedestal, thinking that they're going to magically solve all your problems.

Amy [00:02:57]:

But the reality is, entrepreneurship is a long game. Just because you hire a coach or mentor does not mean that you're going to achieve success overnight. Does not mean you're going to get those same results that you're seeing that coach or mentor posting online, it is so important that you do your homework.

Amy [00:03:21]:

That you get curious, do your research.

Amy [00:03:24]:

And see, okay, do I like this person? Do I feel as though it's energetically a good match? Because let's face it, at the end of the day, we're not going to be for everyone, just like everyone's going to not be for us. So what you can do is get curious and just start observing, start watching. Opt into some of their freebies. If they have a podcast, start listening to their podcast. You get a really, really good idea of the way someone coaches their style, their tone by listening to them. If they have free webinars, free programs that they're hosting, attend those and really see, okay, is this person legit or are they just sharing? These insane client wins all the time on Instagram to the point where you're thinking, oh, okay, well, if they're sharing this about everybody else, if their clients are having million dollar lunches, if they're making ten k days, like, I want that. It's so easy to get sucked into that. And we love sharing the highlight reel online.

Amy [00:04:33]:

We really do, because it makes us feel good, right? Everybody's like, wow, look at her. That's so cool. But what we're not seeing is, oh, guess what? I had a silent lunche. It happens. It happens all of the time. So my best advice to you, Jane, is to take that step back and start getting curious. Start getting curious and asking yourself, okay.

Amy [00:04:59]:

First of all, why?

Amy [00:05:00]:

Why am I interested in hiring a coach or mentor? And when is it the best time? When is it the best time? This is a very individualized answer. I always feel as though having a mentor in my business is very crucial to my success. I'm constantly brainstorming. I want someone to call out those blind spots in my business. But again, this needs to be the financially right investment for you and your business right now. So do you need that one on one support and accountability, or would something like a mastermind or a membership or a group program be a better investment? And again, this varies person to person. And you have to make that decision for yourself because let's face it, it is a very large investment and you work hard for your money. So by taking the time to step back, get curious and assess, is this right for me, you will be able to make a the biggest return on your investment.

Amy [00:06:13]:

So really start to take that step back to get curious and really know yourself as well. Know what kind of buyer you are. Are you an impulse buyer? Are you chasing shiny objects? Are you looking for someone to be your savior overnight? You don't want to invest your money when you're falling under those behaviors, under those habits. And then my last piece of advice to you is, reach out. Before you invest a dime. Reach out to that person you're considering, that coach or mentor and ask to get on a sales call. Hey, I have questions. I would like to talk with you and have those conversations with those people.

Amy [00:07:01]:

Have your questions written out. Have your concerns, have your goals. Because if. If someone is of integrity, they're going to be able to really tell you, okay, this is a great investment. I really believe that this is the best investment for you right now, or you know what? Right now in your business. I think this would be better suited for you. And that is hard, as someone in a service based business to do because we want the clients. We want the income.

Amy [00:07:34]:

But what I want even more than that is for you to have the.

Amy [00:07:38]:

Success that you desire. Your success is your success. Your goals are your goals.

Amy [00:07:44]:

Your goals are not my goals. And that is okay. But if I am not 100% confident in my ability to serve you, I am going to connect you with someone that can. I'm going to connect you with other resources. Because this is a two way street. Making investments like this, it's a very, very intimate relationship. It is that two way street. You're telling me things.

Amy [00:08:08]:

I'm giving you strategic guidance. So it's important that we do have that match. We are compatible, that we are the best fit for one another. So, to recap, when is it the best time? When it feels right for you? When you have that clear understanding of exactly why? Why do you feel as though you need to invest in a coach or mentor right now? That's when you know it is time. And then how do you go about finding someone?

Amy [00:08:45]:

Ask, ask.

Amy [00:08:46]:

And then do your homework. Do your homework and observe. I know it sounds like simple advice, but these are things I wish someone would have told me at the beginning of my entrepreneurial journey, because I, full disclosure, I got sucked down the rabbit hole of investing in places I had no business investing. I've hired some amazing mentors in the past. I've had some that I've learned some pretty interesting lessons from. But again, if we can use these experiences to learn and to grow from.

Amy [00:09:24]:

That will help us achieve the success that we desire.

Amy [00:09:29]:

So, Jane, thank you so much for your question. If you have a question that you would like to submit, check out the show notes. You can ask me anything, and if.

Amy [00:09:38]:

Your topic is selected, we'll shout you.

Amy [00:09:41]:

Out here on the podcast, just like we did with Jane of the wow phase over on Instagram. Until next time, cheers to making the money you want so you can create the impact you desire.