The latest rage among internet or online-focused businesses is the high level (over $10,000/year) coaching or mentoring program frequently referred to as “Gold”, “Platinum” or “Diamond” programs – it seems that almost everyone has their version of one.
These can be amazing programs. I fully believe in them based on the below and have participated in several (do the math here) over the past few years and am in one now.
I’ve seen, and had, huge and amazing leaps made and I’ve seen people on the verge of bankruptcy and everything in between as a result of joining these programs.
Some move forward exponentially and others end up overwhelmed, frustrated and broke.
So why the vast difference in experiences?
There are several things you need to consider before joining a high level program:
1. Can you afford the program?
While this seems like a simple question, it’s really not. You need to play with the numbers and ask yourself, “If my income remains stable or drops, can I afford this program? How will I pay for it?”
Remember that “paying for it” includes travel to and from retreats, hotel stays, meals and funds to implement ideas and new strategies as well as the program fees themselves.
You may choose to take out a new credit card, remortgage your house, etc. – it’s always better to have a backup plan and not need it then need it and not have it; especially as many of these programs require full payment even if you have to leave the program.
2. Why are you joining?
If you’re joining expecting to reach a million dollars in Month 2 of the program, you’ll want to reassess. You want to know your goals and planned outcomes for the program before joining and ask the program host if they’re realistic given where you currently are in your business.
3. Is this the right program/coach for you?
Do your research. Do you resonate with the person offering the program? Do you like her? Could you see yourself sitting down for a cup of tea together and having something, other than business, to talk about? Are her morals and integrity in line with yours?
Is her vision for the program in alignment with your anticipated outcomes?
4. Is now the right time?
Before spending oodles of money on a program to take you to the next level. . .and beyond, do you have the basics covered?
Do you have a team to support you? Do you have a website/blogsite? Do you have an ezine newsletter going out, at the very least, twice a month? Do you have client follow-up and retention processes? Do you have paying clients?
In effect, do you have the systems and foundation in place in order to get the most out of the program?
5. Do you have the time?
These programs take time: time to travel and participate in retreats, time to implement, time for group and 1-on-1 calls, time to assist others in the program (mutual support is critical in a successful program) and time to generate the revenue to pay for it all.
In order to get the most from your participation, you’ll want to ensure you have the time allotted.
If you’re unsure about any of the above, you’ll want to schedule a quick call with the program host to go over your situation before you sign on the dotted line.
My Request to You
Before joining any high level coaching program, put down the sales page or letter, print out this article, grab a pen and notepad and answer each of above with complete and total honesty.© Copyright 2009 Sandra P. Martini