“Why is coaching so expensive?”

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People are happy to spend thousands of dollars per year on coffee, alcohol, unnecessary clothing and a million other low-value products. Yet these same people are often reluctant to spend even a single dollar on their own self-development! Why is this? Let’s explore…

Full transcript (unedited)

what’s up everyone I wanted to make a little video to talk about the cost of coaching obviously it’s something that’s big in my world and as someone who spent roughly six figures on coaching or coaching related programs and stuff in my life I understand spending a lot of money on coaching and I want to share what I understand and this isn’t a pitch from my own coaching I’m not trying to sell my service here if anything I’m trying to help you understand the value of coaching in general where there is with me or someone else a mentor whatever program why I think spending money on coaching is a very valuable use of your resources I know I’m biased but I’m going to talk about why I believe that today I want to imagine for a second that there was a magic pill right there’s a magic pill that you could take and this magic pill has a few psychological qualities it’s kind of like a new drug just passed the FDA approval and it’s ready for the public now as drug does a few things first off it certainly boost your confidence and not only doesn’t boost your confidence as a compound effect as each day passes and each week passes after you’ve taken the pill you get more and more confident it has it’s like you only take the pill once and it just keeps on kind of paying out with more confidence now this pill also does other things the pill also helps you figure out who you are you know instantly as soon as you take this pill you realize what your core values are what you stand for what you should be doing with your life what the meaning of life is or your purpose is and that again has a compound effect ups you take the pill you keep becoming more and more clear on that over time and thirdly if that wasn’t enough the spell this magic pill also gives you social skills it doubles your social confidence and gives the ability to connect with people authentically build loving relationships build your love life build your friends circle relationships with your family help you be more confrontational where you need to be more loving where you need to be and again the compounding effect after you take the pill you just keep kind of like stacking up the skills and the abilities and the relationships now such a pill existed how much would you pay to take it how much money would you be willing to part with to take this magic pill imagine that was proven it’s definitely gonna work the way let’s promise to work how much would you take that pill for would you pay a hundred dollars five hundred a grand 10 grand will you get out alone for whatever it costs because it would be worth it in the long run if you can understand paying ten thousand twenty thousand dollars to take that pill then you can understand the price of coaching a lot of people look at coaching like an hourly rate I get there quite often with people who are resistant to working with me because they think my prices are too high and they say you cost X per hour and that doesn’t make sense for coaching now for as a lawyer that would make sense you pay a lawyer per hour they don’t there’s no lasting effect of working with a lawyer they except for maybe the pain being resolved from your case finishing right but you pay the lawyer per hour to work on your case and when the case is done the lawyers done and the benefit from the lawyer is also done but the benefit from coaching just keeps on going I’m still benefitting today from the very first coaching they ever paid for there’s still elements of that when I recall those lessons and those teachings and what you know how I change from that I can still see how that benefits me today you know this very day I can see actions I took that are a end result of what I picked up their very first coaching I got like six years ago seven years ago no lawyer I’ve ever hired is still having a positive effect on me you know except for perhaps I don’t have a certain pain that they were able to take away coaching hazards compounding effect that’s really hard to measure but it’s undeniable now what’s amazing to me is let’s say an expensive coach cost 10 grand to work with them for a package of sessions three months six months maybe a year something like that and people will be like ten grand you [ __ ] kidding me that’s way too much and yet if they looked at their finances and they said you know I didn’t spend their ten grand on coaching where did I spend that ten grand where did it go and they’ll see that it went on clothing that they didn’t need it went to alcohol and went to coffee and I went to meals beyond their basic groceries and so on and they actually did spend ten grand that year on all the stuff that wasn’t necessary for their survival so they bought all the stuff they spent the ten grand either way they didn’t spend on coaching that’s been doing something else well if that’s you you could ask yourself well what did I get for my team Graham what was the return on that investment you know those clothes that I bought all those coffees and lattes from Starbucks all those all those many bottles of alcohol and maybe a few pills on the side or whatever and all that stuff I bought a subscription to Netflix and so on and so forth they’re 10 grand that I first stood away throughout the year what’s the last thing effect do I have more confidence am I more clear on what I’m doing with my life am i more clear on who I am and my social skills improved vastly if the depth of my connections got better and as they’re compounding if they do I keep improving those things there’s a hard truth is of course not all the richest people in the world understand something that the poorest people don’t in general and then a self investment you know I think as Thomas Edison they talked about the best placing and pour money is into your head and this is what people understand about coach and they’ll spin the same amount that they’re scared to spend on coaching on other things they get nothing for it nothing of benefit not even really good memories right because coaching has this ROI the reason I’ve spent so much money on getting coaching for myself I’m not talking about being a coach but being a coach II a client yes because it’s like it’s like investing in the stock market but you can’t lose I am just every year I get more confident whether I’m currently getting coaching or not the the residual effect of all the coaching I’ve received constantly boosts me it gives me a philosophy that allows me to keep improving myself on my own and it’s like I took a magic pill really I mean it didn’t feel like that at the time the magic pill analogy sounds nice but coaching is actually long hard work it’s hours of painful conversations and difficult actions and so on it’s not a magic pill like that you have to make it work for you I mean there are people who could get coaching and have no benefit because they didn’t put anything into it I made sure that I got my money’s worth out of coaching and that’s why I did get my money’s worth and more out of the coaching that I received and the ideal clients that I work with they make it worthwhile you know I mean that the value isn’t in talking to me that’s just a 1/2 hour conversation that’s just talking but they go out and they make it valuable they go take risks and do the homework and try out new ideas and challenge their beliefs and because of that after our coaching has done they keep getting better and they’ve now developed themselves into a person who can self coach and build themselves and they get their money’s worth and then some because it just keeps paying out and you can actually miss this quite financially you know I mean when I first got coaching I was doing okay in there in a government job and now I run my own business I’m free to do whatever [ __ ] I want all the time it’s an actual monetary benefit that you can measure but that wasn’t because I got taught how to make more money it was because I was to show on how to unleash my confidence and how to figure out what the [ __ ] to do with my life and be very sure of myself and assertive and go for what I wanted without hesitating and so on all of that came from coaching and it keeps paying out so not everyone’s ready for coaching and not everyone wants to invest that much in themselves but don’t lie to yourselves about a being expensive okay because only liabilities are expensive there’s something you pay for and you don’t get as much back in return good coaching is an asset it pays out in the long run it even pays out quite quickly but it pays out are really in the long run you become a better person have a much better life and it keeps getting better as opposed to usually the downward slope that most people are on before they get coaching as I always say you’ll never see an athlete at the Olympics who doesn’t have a coach and that’s a reason there’s a reason for that they understand investment understand that you pour the money into yourself when you pay for coaching hey that’s all I gotta say on that I really am NOT trying to pitch my own services here but I am trying to sell coaching in general go find a coach you there’s no one who can’t benefit from one you know as long as you don’t get a crappy one but most of them are alright it’ll be money very well spent if you make it worthwhile if you’re gonna take the actions and make your mind open you don’t resist the coach you do the things change who you are practice those principles afterwards you’ll never regret spending any of those dollars ever but I bet you regret the amounts that you spend on alcohol if you add it all up for the amount of these failed cigarettes if you add it all up or the amount that you spent on fancy food that you can’t even remember yeah they’re all up the tens of thousands of dollars you know I spent 50 grand on cigarettes in my life 50 grand I could have hired like the best coach in the world instead I put poison in my body what how was coaching expensive compared to their you know so obviously I feel something about this but I want to put it out there if you’re saying no to coaching because it’s too expensive what you’re really saying is you’d rather invest and crap than invest in yourself and that’s the truth and that’s okay just be honest with yourself love you all see you next time

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