Lesson: Questions? - Part 1

0:02Hi, and welcome to this week's episode of the Epic Entrepreneurs podcast where we are all about helping business owners just like you achieve success. So we don't do fancy smancy. We don't do flashing lights. We don't do a lot of things that a lot of podcasts will do. These are just real stories about real people and their entrepreneurial and business experiences. We go into their wins, their challenges, and their learnings. So we hope you enjoy it.

0:37Welcome to this week's episode of Epic Entrepreneurs powered by Action Coach Growth Partners. You likely went into business to have more freedom and flexibility so that you could spend more time with your family, do more things or travel or enjoy your hobbies or whatever it is that you like to do in your spare time. We're here to help you find better ways to make more money, build better teams and get that time back so that you can have that freedom and flexibility. We'll help you simplify things and make sense of business, investing, and wealth building so that you can be epic and achieve all your dreams and goals.

1:10And now, enjoy the show. Hey there, I hope you're having a fantastic spring. We are, we are, and we are looking forward to sharing some things with you today about business. And what I thought I'd do is just answer questions that we get all the time about coaching. And if you have questions about business that you'd like answered, just send them over to me at WilliamGillilland at ActionCoach.com or go on to my website at BillGillilland.ActionCoach.com. And you can post and if you have questions, then we'll get it. So I'm just going to jump in with a whole bunch of questions that we get about coaching, about business coaching, about how we work at Action or, you know, in general, things about coaching.

2:03So let's just dig in. So the first question we get or the first question that people want to know is how much does business coaching cost? And, you know, one size doesn't fit all here. So it depends. Business coaching, I'm talking about a reputable business coach with some experience, is likely going to have some sort of ongoing program for you. Business coaching is not just a one-off deal. If that's what you're looking for, then I'm not sure that that's actually coaching. It might be a coaching session or a one-off or a trial or anything. So I guess the range is from free, so you can get free advice.

2:53You can read a book online. You can, you know, that would be considered coaching, all the way to a million dollar coaching programs for multiple people. So, but to answer the question, one-on-one long-term business coaching with a reputable coach will run you somewhere between$2 ,000 a month and$5 ,000 a month. Most programs will be in the$2 ,500 to$3 ,500 range. So that's for one-to-one coaching. For group coaching, you'd be looking at the$900 to$1 ,000 a month range, maybe one on three, something like that. And there are numbers of peer-to-peer programs that would be in the$300 or$400 a month.

3:41But actual real business coaching that's going to get you results is going to require an investment. Now, I want you to keep in mind that we talked about cost, but it's really an investment because if you invest in yourself, the best investment you can make is in yourself. And you're going to get a massive return on that. But Brian Tracy says you're going to get a 37 to 1 return on your investment in yourself. And I think that's pretty close to right. So I hope that helps. That gives you some idea about how the range of what business coaching you cost. So the long answer is it depends. another question we often get is how much time will i have to put in to coaching well it you know you have to invest time as well so what we recommend is that you would invest a minimum of four hours per week working on the business so that might include your coaching session plus some outside work that you would do as well i think that's the minimum the more if you can invest a day a week working on the business and of course as the business gets bigger you will as the as the ceo or the owner you will eventually be likely putting about 80 of your business of your time working on the business so how much time will it take we recommend four hours a week now having said that we are you know job one is to figure out how to get you to four hours a week if you don't have four hours a week to work on your business then we'll start with 30 minutes we'll start with an hour guaranteeing you're what you're you have that you have time wasted in your day or in your in your life where you can invest in yourself but we'll work gradually work to get you there the goal is to get to four to five hours per week working on the business we kind of answered the next question is when will i have to invest time outside of work or will i have to do outside work well yes you'll have to do outside work because how else are you going to work on the business coaching is about giving you guidance about giving you education about helping you plan finding inspiration getting you to commit to things that you probably wouldn't do on your own.

6:15So yes, you have to invest time working on your business outside of the coaching session. So if all you want to do is come in and have a feel-good session, then business coaching is likely not for you. Can I get access to a coach outside of coaching times? And the answer to that is yes. my you know in my case my phone is open people text me people call me I'm happy to chat outside of the coaching time about things that come up that's part of the program in fact I will likely do that for anyone so and Jason on our team and pretty much everybody on our team is like that So if you need outside access from time to time, that is totally fine.

7:08I can't imagine a coach being so busy that they wouldn't be able to give time to their clients. Is there a guarantee? Yes, there actually is a guarantee. It's called the 7.17-week guarantee. and it's got seven points. So I'm going to actually read them to you. The first one is we guarantee to get results and then you'll be able to find your fee in your business within 17 weeks of Action Coach coaching your company or your coaching is free. Now you have to do certain things. Coaching is a two-way street. If you don't do any of the work, then we can't, then the guarantee is void, null and void. But as long as you're doing the work, as long as you're turning in your homework, as long as you're showing up to your coaching sessions, as long as you are participating full out then yes we have a guarantee here's the second part of the guarantee we guarantee to tell the truth about you and your business no matter how uncomfortable it may be or how hard it is to share with you the realities of your business and the changes you need to make so we're going to be brutally honest with you number three we guarantee you a business re-education about how your business really works and how to successfully grow your company as well as how to apply your new education and knowledge to any business situation so we're going to give you information that's going to allow you to be to do your business better to do it in a simpler fashion to make sense out of how to grow a business we guarantee complete confidentiality that goes without saying we guarantee a personalized approach to your business so every business and every business is different so every business has to be personalized a little bit point six we guarantee a system and methodology that is not designed to increase your profits there is a proven system and a proven path to build your business if you'd like to know more about those you can check out our videos on or my videos on my on my youtube channel or go tool around on our website you'll find all kinds of information there but there is a system or a and a method to grow any business we guarantee to show you how action coach defines business success and how to build a commercial profitable enterprise that works without you so yes we do have a guarantee you it's a two-way guarantee because you have to do the work but is there a guarantee in coaching at least for us it is i can't say what other people do but we guarantee our results.

9:43Another one again is what do I actually get from coaching? That's a great question. Well what you're going to get is you're going to get knowledge, you're going to get education, you're going to get an unreasonable friend, you're going to get accountability, you're going to get

10:08a set path you're going to get a plan you're going to get someone who is going to show you show up and be truthful with you who's not going to to sugarcoat it who's going to tell you the truth and by the way most a lot of us need that day to day you need to hear the truth particularly executive CEOs a lot of times people tell us what we want to hear you're going to need to hear the truth those are just a few of the things you get you're going but then ultimately you're going to get results and I've got case study after case study of people who've gotten results who whose lives have been changed you're going to get your life changed your life will change you will become someone different than when you started coaching if you'll stick with it and go for it for a long time which is another question I get quite often how long does coaching last well coaching lasts as long as you're getting value from the coaching relationship my view is that coaching is lifetime my clients their lifetime long after I've stopped having a formal coaching arrangement I often get calls with somebody just asking me one or two quick questions and I of course you know enjoy working through those questions with them and helping them with their coaching so coaching lasts a lifetime I had a guy asked me this one time I thought it was great what can you do for me

11:54interesting question I don't know what he was expecting a coach to do for him well a coach can bring the things we've talked about we can bring education we can bring planning we can bring tools and tips we can bring coaching but I can't do a thing for anybody who's not willing to do something for themselves So if you're willing to do something for yourself, if you're willing to do the work, if you're willing to be honest, if you're willing to accept the knowledge, if you're willing to work on yourself harder than you do on your job, if you're willing to be held accountable, then I can help you do great things.

12:34but if you're not willing to do anything i can't help you do anything so it's a bit up to you i can help you a coach will always help you be better if you will allow them to be better why should i hire a coach you know i've been asked before like do i need a coach or yeah well you don't need a coach okay you may be able to do fine without it but let me ask you this question what if you don't get a coach and your competitor does get a coach? I just want you to think about that for a minute. Wouldn't it make sense for you to have the edge? Wouldn't it make sense for you to have someone on your team?

13:16Professional athletes have a coach. Professional musicians have a coach. Professional actors and actresses have a coach. Professionals have a coach. Are you a professional business owner? You should have a coach. Another question I get, why should I hire you as a coach? Great question. I do think it's about fit. It's about do we fit? Can we have fun? Can we work together? So the three questions I often ask are, hey, can we get results? Is your business at a point where we can get some results? Number two, can we get a ROI, return on investment in your coaching? In other words, can we make more back in your business than you're going to have to invest in the coaching program?

14:08And number three, will it be fun? So, you know, our program, we call it a strategy session. Our strategy sessions are designed to sit down, have a chat with people, run them through how, whether or not there is a, well, Well, first of all, we talk about where you would like to go. We talk about where you are now. We talk about some strategies and tactics to get here. But ultimately, what we're looking for, is there a fit between where you want to go, what you want to do, and what we do? That's ultimately what we're looking for. So if you're looking for a better way to build businesses, if you're looking for simple strategies and tactics to help you grow your business.

14:55If you're looking for someone to help you make sense of business growth, of investing, of wealth building, then yes, I'm your coach. If that's not what you're looking for, then we're not the people for you. So hopefully that clarifies it for you. We've already answered how long does coaching last? Coaching lasts as long as you're getting value. Here's a question I get every once in a while. Should I have more than one coach? My simple answer to that is yes. I mean, because in what areas would you need coaching? Would you need a personal trainer? Probably. probably because you're probably not disciplined in the area of taking care of yourself would you need a so that would be a fitness coach or a personal trainer would you need coaching in managing your finances well you might would you need coaching in you know I need a golf coach right I play golf so I need a coach in in the I need a professional golfer to help me with my golf would do you would you need a business coach yes you would would you need a lawyer yeah you would need a lawyer would you need an accountant yeah you would need an accountant and you would need a coach so my short answer is yes you need coaches in multiple areas of your life the the codicil of that is should I are there different coaches for different areas of your life yeah there's going to be coaches that are going to be better for you at different times like that's why we're set up with multiple coaches and we have coaches for when you're at the mastery level when you're at the niche level when you're at the systems level when you are at the team building level when you're at the scaling level different coaches for different times in your business so yes you might need different coaches or you might have a coach like me who'd been able to take you through the whole process

17:14should my team be coached this is a big frustration for us because the answer is of course if coaching is good enough for i mean you know on the on a football team they don't just coach the quarterback you know everybody gets coached so should should your team be involved in of course your team should be involved in coaching should you invest in coaching and training for your team of course you should be of course you would because it becomes easier the more they know the the more they can be coached the better off you're going to be so of course your team should be coached i mean part of our job as business owners as as entrepreneurs as ceos is to is to make our people the best they can be so if you're the best you can be and your people are the best you can they can be then the company is going to be the best can be i i the thing is crazy to me why wouldn't you invest in your people send them to training get coaching for them help them understand how it all works which brings up the next thing do you do fill in the blank training yes we do we we have training programs for sales we have a 12-week sales training program we have a 12-week management training program a lot of people are not getting training and management do you have we we do leadership training we do skills training we have all kinds of training to help your people be the best they can be so that is about 14 or 15 of the main questions we get I've got another 14 or 15 so I'm going to they're gonna be on the next show so I'm gonna want you to stay tuned for that I hope this has been useful it's some of the questions we get.

19:21If you have any questions about coaching, about business, about growing your business, about building teams, about marketing, about sales, about anything to do with building a business, I want you to reach out to me on my website. It's BillGillilland.actioncoach.com. You press the button called strategy session and that gets you an appointment with me or one of my team members, Jason or one of the other team members. So I hope you're having a fantastic spring. I can't wait to see you in person. And until next week, all the best. Thanks for joining us for this week's episode of Epic Entrepreneurs.

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