Michael hosted master coach Terri Levine today on his Think Big Revolution call. The call had some valuable gems (subscribe to the podcast to grab it once the audio is up).
Terri makes no secret her views on coach certification. She says that in all of her work with Fortune 100 clients and companies, her certification or training has never been a deciding factor in a gig. She does stress that training is great for coaches just starting out because it give them ‘some meat’ and the calls aren’t just telling the client ‘well you have the answers!’
Terri mentions a coaching program she knows of that is $60K. Holy crap! If you want to spend that much – just go get an MBA!
She edges close to my peeve of prosperity coaches who are broke. I think anybody that calls themselves an abundance coach should be forced to post PDFs of their 1040 forms each year. I can hear the ninnies saying, ‘There’s more to prosperity than wealth.’ Then why do you keep quoting Robert Allen?
Free sessions degrade coaching. BULLSEYE. Time spent offering free sessions to coaches is much better spent securing speaking engagements to reach more people. I am finding as my own profile starts to rise that I am no longer able to do lots of freebie klatches about blogs. Suzanne is already railing at me that my prices are still too low.
And in keeping with the Multiple Streams, Book Yourself Solid and Product Factory folks: her main source of income is from products and group coaching.
Terri does mention that her first year she spent all of her time coaching (she’s now one of those unicorn-like seven-figure coaches). And I think this is a dirty secret of successful coaches – they work their butts off for the first few years. Thomas drove around in that RV because he liked to travel but also because he couldn’t stop working. Successful coaches also hire staff, interns and make service trades.
Great call Terri and Michael!
The one thing I come back to again and again is how much the coaching industry is like the theatre industry:
- Lots of unemployment (+ ‘real jobs’)
- Lack of marketing smarts
- Lots of money made from training programs
- Mythic/icon gurus