WEALTH COACH $?

Hi Coreyjay

Thanks for providing such an interesting post, I’m sure it will be very popular.

If you are a regular poster on this forum, and/or subscribe to Steve McKnight’s newsletter, you will find that Steve is contemplating a similar style of program. In his last communication, Steve mentioned that he had not finalised any pricing structure, but a figure he was throwing around was $5.50 or a cup of coffee a day. This equates to around two grand a year.

I don’t really know anything about Steve’s program or it’s delivery medium, only that it will be a combination of electronic based (email/internet etc) and face to face or telephone. I will stand corrected however, if I am not right as at this stage it appears only to be at the market research or development stage.

In relation to whether you get value for your money, I guess it is a bit like investing in real estate, due diligence conducted prior to signing with anyone will allow you to determine what you get for your dollar, regardless of what the actual price is.

Some of the research I would be doing is:

How many other subjects will be in the program? Let’s face it, if there are a large number of participants for the want of raking in the cash, how ‘personal’ will the service be? In know that Dolf De Roos has a program called ‘Property Prosperity’ which is conducted via pre-recorded video streaming. There will be a topic for the week then Dolf will answer questions sent by email by participants. I actually had one of my questions answered (about four weeks after I sent it), although it was read probably for the entertainment value of the question rather than the any useful information. The big problem was that it was hardly a mentoring program because there was no personal contact with the ‘mentor’ and I’m sure that there was no restrcition on the number of participants.

Another question would be is whether the mentor will be warm and fuzzy in order to keep to me on as a client and telling me things I want to hear or will he/she tell it to me as they actually see it. I was fortunate enough to participate in Dave and Steve’s Kiwi Adventure in February this year. Whilst I am not endorsing any of their products or programs, I can tell you from experience that these guys are straight shooters and don’t beat around the bush. If you can’t take criticism, although very constructive, then you should perhaps grow a few extra layers of skin before signing up. They may be hard (as it may seem to some) but they are brutally honest, which is what I would expect from this type of service. I don’t know anything about your guy in Brisbane, but this would be one very important question I would ask. I would also seek references from some of his clients and contact them to ask them of their experiences.

Another question would be what happens after one year? Is it an automatic renewal? If so, how many new clients will be taken on for the next year? This comes back to the earlier point, how many clients/students/subjects will be on the go at any one time? Will I just be a number or actually a name and face? Is there a cap of total active participants?

What guarantees or performance indicators are on offer? No-one can guarantee personal success, but what business guarantees are there? Things like, if I make an enquiry, when will I receive a response? How much personal face-to-face or phone time does the mentor guarantee each student per day/week/year?

Finally I guess there is the question of credibility. Has the mentor actually walked the walk or just talking the talk? It’s a bit like receiving property investment advice from an accountant who does not invest in property or listening to a football commentator give their ‘expert’ opinions when they have not pulled on a pair of footy boots since school sports day.

I guess the most important aspect will be whether the mentor teaches his/her subject to learn from his/her experiences, both good and bad, to allow them to become independant by making their own decisions rather than making decisions for them. I reckon it is all about self-transformation, challenging one’s beliefs, aiming for personal growth and blowing comfort zones out of the water. If they don’t do this then chances are the subject will become reliant on them and once the program ceases for whatever reason, they go back to square one. A philosophy I use is, education acquires skills, application of the skills builds experience and the more experience (especially bad) promotes wisdom.

In relation to what to pay, well I guess that it all comes down to value for money and what you think is a fair price or should I say investment. Let’s face it, if it costs 2 grand or 3 grand, if the mentor is any good, the fee should pale into insignificance because the fee will be recouped many times over.

Good luck!!!!

Best wishes

Giraffe

All the best…Giraffe

“Real Estate – The Foundations of Wealth”

Dear coreyjay,
I went to high school with Ben Healy. We are both 42 years old. Ben was honest and very smart at school.I have been told by other school mates that Ben was top score for making money since we left school ie many millions. Seems fair as he was one of the smartest.Hope this helps.

Regards
Cashpoor

Coreyjay,
I read my previous post again and thought it sounded a bit negative about Ben. So just want to clarify that I did not mean Ben would not be able to help you or others …..only my situation he could not do much and he clearly said so.
I intend to see Ben again in the very near future.
regards,

Hi Corey
You can also get a lot of mentoring for free right here on this site. There are some amazing people here and the subjects are so varied. I personally am a number one fan of Dazzling! His advice is always excellent, but there are many others that have really good advice and tips.
You can educate yourself by reading loads of books and keep coming back here and others sites like this.

There are also investor meetings, check out the threads. I know there is one in Melbourne & a new one just started in Sydney. Here is where you will learn from others that have done it! It is also great to be surrounded by people who have the same interests.

Anyway……there’s my thoughts
Cheers
Toni

I’d be taking Richard up on his offer and shout him lunch if your keen for advice

REDWING

“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator

Hi Coreyjay
I dont know of a club in Qld but why not run a thread? I am sure you would get lots of people interested. Good luck and keep up your reading!
Cheers
Toni89