Expensive Mistakes: Learning from Costly Coaching Errors

Summary

Angie and John dive into their most expensive coaching mistakes, offering candid insights into the financial pitfalls they've encountered in their business journeys. They share personal anecdotes about unrealistic budgeting, ineffective advertising investments, and the dangers of not separating business and personal accounts. Highlighting the importance of setting a realistic budget and investing wisely, they also discuss mindset challenges and the value of taking action despite uncertainties. The episode serves as a guide for coaches to avoid similar costly errors and emphasises that mistakes, while painful, are essential learning opportunities.

Sound Bites

"I spent in 10 months $25,000."

"It can be very expensive to find leads."

"I didn't know how to organize events."

"I will never do that again."

"You need to look at the fine print."

"90 days doesn't seem like a long time."

"You want to know what the policy is on that."

"Don't become a professional student."

Takeaways

Mistakes are part of the learning process.

Setting a realistic budget is crucial.

Lead generation can be costly and ineffective.

Not getting coaching sooner can cost opportunities.

Mixing personal and business finances is a painful mistake.

Delegating tasks can save time and increase efficiency.

Researching before spending is essential.

Trusting others to follow through can be risky.

Time spent on ineffective strategies is a lost opportunity.

Learning from past mistakes is key to growth. Set up your business structure early to avoid complications later.

Payment processing companies can hold funds unexpectedly; read the fine print.

Mindset challenges can hinder progress; taking action is crucial.

Mistakes are part of the learning process; don't fear them.

Investing in your business can lead to unexpected growth opportunities.

Don't let the fear of failure prevent you from launching your business.

Research and discern before committing to services or products.

Certifications should add value, not just serve as a status symbol.

Building a budget based on your needs is essential for success.

Embrace the journey and learn from every experience.

Chapters

00:00 Introduction: Sharing Expensive Coaching Mistakes

01:17 Early Costly Mistakes in Business

03:20 The PR and Advertising Blunders

06:54 Lead Generation Disasters

17:31 The Importance of Business Accounts

29:11 Mindset and Emotional Challenges

37:45 Conclusion: Learning from Mistakes

Want to contact the show? You can leave us a voicemail. It's free to do and we might feature you on our next episode. All you need to do is go to https://speakpipe.com/thecoachingclinicpodcast and leave us your message.

Would you like to get coaching from John or Angie? Here's how you can contact us:

John's LinkedIn Profile or go to PresentInfluence.com

Angie's LinkedIn Profile

2023 Present Influence Productions The Coaching Clinic 38