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- Jul 24, 2019
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Hi there,
Recently I was watching videos on Coffeezilla youtube channel and it got me thinking... are all "online gurus" scammers? Actually, it was nothing new to me that there are many online "entrepreneurs" coaching and mentoring people for money, promising the results which X% of people can easiliy achieve, if and only if they do the hard work and follow the process to the point.
The problem is that their value proposition is a bit weird... they will sell you the HIGH TICKET course (couple of thousand bucks) and they will promise you, actually they do not really guarantee anything, that you can get let's say $1000 M.R.R. in 6-9 months if you follow their process.
The problem is... if the coaches out there really stand for what they are teaching their value proposition should be... I will personally mentor you for 1 year and I know my stats -> 75% of people following my teachings can get at least $1000 / month in 6 months -> If you follow my process (and YOU CAN PROVE IT by giving me reports every week or month or something) and you will not achieve the results I am saying you will achieve, then I will give you all your money back - that is my guarantee.
There are countless times said... if you are selling your service or product you should at least 10x your value for the customer (compared to a product already in the market) to cut through the noise and get noticed. So if someone puts value proposition above with a money-back guarantee and they will refund only 25% customers (because their success rate is 75%) they still can get a very profitable business (and more clients as well).
What I think is very shady about many coaches and mentors out there:
* If they have profitable business themself, why they want to bring others to space, teach them a "secret" and make a competition for themself... For example, someone teaching about how to make 6 figures e-commerce, instead of building another one for themself (they can outsource almost everything).
...Or for example, someone teaching how to sell websites to the companies charging 20k per website... while they can build a software company, scale it, make a brand, hire people and step out of the process and still get a lot of money (Fastlane).
...Why to put the effort into building a course, mentoring people instead of scaling a company? - and this mentoring thing is more like a job because a mentor has to spend time with mentees and once the mentees know a thing they are gone and do it by themself - no money for the coach anymore.
* I think a successful mentor actively searching for mentees is quite a weird thing...did you ever see any executive from fortune 500 company begging for a mentee?... I was once watching an interview with some very successful Silicon Valley CEOs talking about getting business partners and mentors... and they said it starts as a common interest and friendship, it is not based on business transactions like give me money and I will coach you how to be successful (those successful people do not need to waste their precious time for getting scrape money).
* If somebody compares this mentoring thing to a let's say UDEMY course than it is not the same thing... If someone teaches you about copywriting or marketing and sales but they will only guarantee you knowledge but they will not be promising you any money as result... then I think they will not be able to get desperate people on board (wanting results more than knowledge) and also I do not think they will be able to sell it for a couple of thousands... SO IF THEY MARKET THEIR COACHING SERVICE AS A WAY TO GET MONEY... THEY SHOULD GUARANTEE THE MONEY AT THE END OF THE COURSE... THE SAME WAY AS UDEMY COURSE ABOUT PHOTOSHOP WILL GUARANTEE YOU THE KNOWLEDGE ABOUT HOW TO WORK WITH LAYERS. If there is a bit of luck involved in the process, then they should market their product as such and see if they still can get so many people on board.
So, to make a summary... why if some couch out there which does not want to be perceived as a scammer, will not put an amazing value proposition with a money-back guarantee for their mentees. And as I said above, you can always find a way how to track the progress of people, IT IS A MENTORING AFTER ALL... think about the milestones similar to UPWORK, there is a way for sure to filter out people who do not want to work (no money back guarantee for them).
...BUT if there is not a money-back guarantee, actually not guarantee at all, then I think it screams a SCAM. They should sell the CRASH COURSE TO COPYWRITING or SALES 101 instead... not mentioning any money at all.
What is your view on all of this "online coaching" thing?
Recently I was watching videos on Coffeezilla youtube channel and it got me thinking... are all "online gurus" scammers? Actually, it was nothing new to me that there are many online "entrepreneurs" coaching and mentoring people for money, promising the results which X% of people can easiliy achieve, if and only if they do the hard work and follow the process to the point.
The problem is that their value proposition is a bit weird... they will sell you the HIGH TICKET course (couple of thousand bucks) and they will promise you, actually they do not really guarantee anything, that you can get let's say $1000 M.R.R. in 6-9 months if you follow their process.
The problem is... if the coaches out there really stand for what they are teaching their value proposition should be... I will personally mentor you for 1 year and I know my stats -> 75% of people following my teachings can get at least $1000 / month in 6 months -> If you follow my process (and YOU CAN PROVE IT by giving me reports every week or month or something) and you will not achieve the results I am saying you will achieve, then I will give you all your money back - that is my guarantee.
There are countless times said... if you are selling your service or product you should at least 10x your value for the customer (compared to a product already in the market) to cut through the noise and get noticed. So if someone puts value proposition above with a money-back guarantee and they will refund only 25% customers (because their success rate is 75%) they still can get a very profitable business (and more clients as well).
What I think is very shady about many coaches and mentors out there:
* If they have profitable business themself, why they want to bring others to space, teach them a "secret" and make a competition for themself... For example, someone teaching about how to make 6 figures e-commerce, instead of building another one for themself (they can outsource almost everything).
...Or for example, someone teaching how to sell websites to the companies charging 20k per website... while they can build a software company, scale it, make a brand, hire people and step out of the process and still get a lot of money (Fastlane).
...Why to put the effort into building a course, mentoring people instead of scaling a company? - and this mentoring thing is more like a job because a mentor has to spend time with mentees and once the mentees know a thing they are gone and do it by themself - no money for the coach anymore.
* I think a successful mentor actively searching for mentees is quite a weird thing...did you ever see any executive from fortune 500 company begging for a mentee?... I was once watching an interview with some very successful Silicon Valley CEOs talking about getting business partners and mentors... and they said it starts as a common interest and friendship, it is not based on business transactions like give me money and I will coach you how to be successful (those successful people do not need to waste their precious time for getting scrape money).
* If somebody compares this mentoring thing to a let's say UDEMY course than it is not the same thing... If someone teaches you about copywriting or marketing and sales but they will only guarantee you knowledge but they will not be promising you any money as result... then I think they will not be able to get desperate people on board (wanting results more than knowledge) and also I do not think they will be able to sell it for a couple of thousands... SO IF THEY MARKET THEIR COACHING SERVICE AS A WAY TO GET MONEY... THEY SHOULD GUARANTEE THE MONEY AT THE END OF THE COURSE... THE SAME WAY AS UDEMY COURSE ABOUT PHOTOSHOP WILL GUARANTEE YOU THE KNOWLEDGE ABOUT HOW TO WORK WITH LAYERS. If there is a bit of luck involved in the process, then they should market their product as such and see if they still can get so many people on board.
So, to make a summary... why if some couch out there which does not want to be perceived as a scammer, will not put an amazing value proposition with a money-back guarantee for their mentees. And as I said above, you can always find a way how to track the progress of people, IT IS A MENTORING AFTER ALL... think about the milestones similar to UPWORK, there is a way for sure to filter out people who do not want to work (no money back guarantee for them).
...BUT if there is not a money-back guarantee, actually not guarantee at all, then I think it screams a SCAM. They should sell the CRASH COURSE TO COPYWRITING or SALES 101 instead... not mentioning any money at all.
What is your view on all of this "online coaching" thing?
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