When "Invest in Yourself" is NOT the Best Advice"

Why That Coaching Program Won't Work

3/13/2015

Your business crush, an up-and-coming coach, whom you've admired for a while just announced the opportunity of a lifetime: the chance to work with her in an exclusive, year-long mastermind program and turn your business into a soaring success.

Could this be fate?

I mean, how could this woman -- whose book you've claimed as your personal business bible, whose online content has been blowing your freakin' mind, and whose success you've been drooling over for the last several months -- know to offer a program like this, right now, at a time in your career and life when you've so desperately needed it?

Sure, it's several-thousand-dollars more than what you can really afford right now. But it's an investment in your future. In your success. In yourself.

As you stare at the billing information you've entered on the payment screen -- your mouse hovered over the Pay Now button, your palms glistening with sweat and your chest pounding with anxiety -- your mind is racing ...

"If this program works, it'll be a game-changer. My business (and life) as I know it will never be the same. But if it doesn't work?? No, it has to work, because I can't afford for it not to. So I should just go for it, right?"

A high-profile coaching program is attractive, mainly because of the opportunity it gives you to raise your profile and reach a much bigger audience. It can be one of the most pivotal investments you'll ever make in your business. But it could also be a disastrous misstep that leaves you financially and emotionally strapped if:

1. You aren't solid on what your business really is

You have an idea of who you want to work with, but you don't know the specific problems you solve or the value you offer. And though these are things you could work on with this coach; understand that this is ground-level stuff that you're usually expected to know for yourself before you sign up.

So if the focus of the program is on up-leveling your business, but you're still in the phase of defining your business, it's not likely that you'll get the best value out of it -- and you might find yourself feeling out of place.

2. You're signing up to learn their "formula" for success

Do you ever notice that most success stories tend to follow a similar pattern? There's the never-quite-specific-enough beginning and middle phases, when the person is figuring things out. Then there's the phase when they've discovered their turning point, their business sky-rockets, and now they're on the cover of every major business publication on the planet.

Those beginning and middle stages that seem to always get glossed over are the real defining points for any successful business. And finding what works means that you've first tried a whole bunch of other shit that doesn't.

What goes into creating one person's success story might not work for yours. So buying into a formula for growing your business is like using a casino as your retirement savings plan: it's not investing, it's gambling.

3. You haven't already been doing the work to get the success you want

Investing in yourself financially is and should always be an empowered decision. Even when there's a financial risk, you can take it because you're clear on the reward. But if you haven't already been putting skin in the game to create the success you want, the huge lump sum you're about to drop won't make a bit of difference.

4. You're hanging all of your hopes on this one thing

As I said before, investing in a high-profile program can be one of the best things you'll ever do for your business -- but it's only one of the best things you'll do.

Other things you can do that could also be a game-changer? Promote your work. Talk to more people about what you do. Ask for a testimonial or referral from clients whom you know you had a big impact on.

5. You don't believe you're worth the investment

Even if the most inspiring, successful person on the planet (looking at you, Oprah) offered you a chance to learn and work with them, there is nothing that person can do for you if you don't believe -- even a little bit -- that you are worth it. So the moment that things get hard or start to stretch you beyond your comfort zone, you'll immediately see it as a sign that you can't do it. Instead of pushing through, you'll chicken out. And you'll drop out.

Over to you ...

If you've been thinking about investing in a high-profile coaching program lately, what makes you excited the most about it? Do you feel you're ready to make the investment now? Tell me about it in the comments below.