Tis the season of launches — which means, many of you will invest or consider investing large sums of money in your business (and not all of it is a good choice).
How do I know?
Because I’ve done it way too many times.
I didn’t know what I didn’t need, so I bought hook, line, and sinker everything some magical gurus were selling.
It’s a painful lesson I wouldn’t wish on anyone, so that’s why I’m brutally honest on this episode to talk about the other side of online marketing and be the voice of reason.
It’s not always a good idea to invest.
I don’t believe you should extend yourself to pay for a product, service or coaching.
And I certainly don’t believe that all mentors are created equal.
But what does that mean for you?
It means that I’m giving you my biggest mistakes and what I’ve learned from investing nearly $30K in coaches so that you can confidently grow your business with the RIGHT mentors at the RIGHT time at a price that you can stomach.
Here are my top 8 warning signs that it’s not a good fit for you to invest right now:
#1: If it sounds too good to be true, it is too good to be true.
The old adage rings true. If the end result of whatever sales process you’re sucked into (a coach, PLF launch, course, mastermind, etc) promises you an end result that is WAY further than where you currently are in your business, it’s time to run.
Big leaps are entirely possible in your business. But they require significant time, money and energy investments that *most* entrepreneurs below six-figures aren’t ready for.
#2: If it’s significantly out of your budget, it’s not a good fit.
Stretching yourself and investing in your business is a good thing. Putting your business and family in jeopardy with your financial gambles is not. Personally, I refuse to work with someone that wants to put their investment with me for one-on-one done for you or done-with-you marketing on a credit card, unless I know they have significant income coming in and want the points. Overextending yourself financially in the hopes it will kick your butt into gear to execute your dreams for your business only puts stress on your business and on your dreams. Don’t do it.
#3: If you weren’t referred by someone you know, have met them personally or had a personal connection, it may not be the best fit.
I say this one lightly because it’s entirely possible to find the perfect person for you on a whim. However, from the majority of women, I’ve worked with and my own experiences hiring someone — if you don’t personally know who they are outside their business or when they’re not in front of a camera, or what results they’ve actually gotten someone — do you even really know them? Too often we get sucked into the sales process and make decisions based on gut and instinct when our judgment is clouded by our desperation to be anywhere but where we are in our business.
#4: Try before you buy.
What I mean by this one, is that you should experience what it’s like to work with this particular mentor, guru, program before you invest significant amounts of money with them. Join their list, try out their freebies, watch them live, take them up on the free consultations. Find out a) if you enjoy that person’s personality, b) if you get results from their free things and c) if you can learn from their style of teaching — sometimes the person is great, but it’s not a good fit for how you work.
For my clients, you can’t work with me at a high level (one-one-one work for done with you or done for you marketing) unless you’ve worked me with at a smaller package first. This is to protect me from getting involved with a client that I can’t deliver the results I want to for, and them, from working with someone they don’t truly get or jive with.
#5: If there are not crystal clear deliverables or results, pass on it.
If I had known this one when I was a wee fledgling business, I would have saved $16,000. But I didn’t know. If you’re getting promised everything you’re hoping for your business and some pie in the sky — it’s more of a mindset mumbo jumbo program (and trust me, I love me a good mindset coach) and not what you need in this exact moment to move your business forward.
You need to know exactly what you want out of a program/course/mentor and what they are promising/delivering at the end of your time together. In specific terms. Not “massive engagement” or “more clients” or so much money you’ll be taking a trip to Disney every month with your family” things. Real things that matter to run your business and make it profitable.
#6: If the experts you’re wanting to work with are AWOL except for when they have to be, it’s probably not what you need in your business.
When you invest a significant amount of money, there is an unspoken assumption that more money = inside access to that person. That’s unfortunately not always the case. If you’re on someone’s list who is killing it with big business, it’s probable you’ll be working with their team instead of them directly, or getting access to them will be like pulling teeth. I don’t know about you, but that’s an experience I can go without. Make sure you talk to other students/clients of the person you’re watching, to know what the working relationship is like first.
#7: Beware when hiring a “guru” to work with. They have accelerated success, which throws off the results of their clients.
I have “worked” with multiple big-wigs in the online marketing industry over the past three years. Some I adore and will follow them to the ends of the earth. Others, it was quite disappointing to work with them in person, as their on-camera persona is not the same as their results promised.
Why does this phenomenon happen, because I know I’m not alone in this predicament?
It’s because of this tiny thing called a tipping point in your business. It will happen to you as someone point, trust me. It’s when you’re slowly plodding along, growing inch by inch and then one day, everything shifts into place and your business starts growing faster than you could imagine it. It’s like a snowball rolling down a hill. This accelerated success is deceiving, because the more you grow, the more people you attract at any stage of business.
When you have people coming to you at all levels of business, with all types of revenue, there is NO possible way to get the same results for all of them. Yet, because they are masters at their skill, and masters at copy, funnels, ads, etc. We believe each word was written uniquely for us and we eagerly hand over our money to work with them, expecting results we are in no way, shape or form ready to accomplish. So now you know, so beware!
#8: If you’re not vetted before you buy, you shouldn’t buy.
It’s like allowing an underage girl to buy alcohol because she’s pretty. A practice that operates under the same values that I do wants the best for the customer, and to make a profit. They aren’t mutually exclusive. For me, they must go together. So if you’re getting into the sales process and there is no language on the sales page that narrows down who this program is for, or more importantly who it is not, OR if there’s not a fitting call for a large investment over $1000 to see if it’s what you need, that is a red flag that this could possibly not be a good fit.
Phew, that was intense. But it’s a conversation that is worth having because we don’t talk about the pains of investing money in the online world. Women are shamed for doubting they can afford it, or cajoled into spending money they don’t have for results they aren’t ready for.
Not anymore, my friends!
If you want to continue the conversation with us in my free Facebook group, join Marketing Magic, a place for female entrepreneurs who want to grow their business and be unapologetically successful can find community.