Before you invest in another business coaching course stop and listen to this episode of My Biz Bestie. If you are anything like Maelisa and Amber you have invested a ton of money in masterminds, courses, programs, and anything else you can think of to help your business grow. But how can you tell if you’re getting a good ROI? On this episode the biz besties help you analyze whether or not you should buy that next business course (or join that mastermind, etc) or whether the one you are currently in is actually doing you any good.
Do you have space in your life to dedicate to this investment?
Before you invest any money in a business coaching course or a program you need to analyze your life. Do you have time for it and do you need it? Oftentimes there is value in what you are looking to purchase but if you don’t have the free time or free mind space to invest in it then it won’t be of any value to you. So, do you have space in your life to dedicate to this thing? If you don’t try looking for a middle ground. If you know that you aren’t ready to put yourself all in then there might be a shorter program that you can handle right now. Get clear with yourself on what you can handle. If it's not a hell yes then its a no.
What is the need you are trying to fill?
When you are considering signing up for a business coaching course or a program then think about your needs. How will this investment help you learn what you need right now? If the thing you are looking at fills a need then go for it. Something you may not have considered is whether you really need to learn the new thing or if you should just hire it out instead. Sometimes you don’t need to learn the skill you just need to hire it out. Check in with yourself. Do a time study and identify what you are actually spending your time on. Everyone has time blindness and grossly overestimates or underestimates what they spend time on. Once you look at the data then you are in a better place to make decisions.
What is the ROI that you are looking for?
Before you invest in another business coaching course think about the outcome. How should things look different for you after you complete the course? Don’t be afraid to contact the seller. Ask them specific questions about how you will achieve your goals. Don’t be shy! They are trying to sell you something so they should be happy to answer the questions. This also helps manage your expectations. Understand how to measure your ROI if you are doing your work and the coach is doing their work. Ask the coach what their expectation is, can you complete it?
How do you know if the business coaching course is worth it?
You should already have an idea of the results that you want to see. Make sure to have a way of tracking those results whether it’s weekly, monthly or whatever. Have a specific way to look for your progress. When a goal is ambiguous it can be hard to see the progress even if you aren’t feeling it at the moment. You take a program, not because you are unable to learn without it, but because something is holding you back from doing it on your own. So give credit where credit is due when you do achieve your goals. So, are you achieving the goals you set out to achieve?
In this episode...
[3:12] Do you have space in your life to dedicate to this investment?
[7:04] What is the need you are trying to fill?
[13:55] What is the ROI that you are looking for?
[21:51] How do you know if the program is worth it?
[24:06] What should you do if the program doesn’t live up to your expectations?
Resources & People Mentioned
BOOK - Clockwork by Mike Michalowicz