Recently, I’ve made one of the greatest business decisions of my entire life. I ask myself, “Why didn’t I do this earlier?”
You know, it’s funny. When you watch the Olympics, ESPN, or any other famous sports channel, you will easily find some of the greatest athletes in the world.
These athletes spend hours every day mastering and perfecting their particular sport. Some of them have spent the majority of their life dedicated to being the best at what they do.
Yet when you look at these athletes, don’t you find it strange that despite their skill and expertise, all of them still utilize a coach?
You would think that because they’ve been at it for so long that they essentially could coach themselves, but it’s never the case.
I’ve recently tested out hiring a business coach, and I have to tell you, it’s turned out to be one of the greatest decisions I’ve ever made.
I now know exactly why all the top athletes of the world continue to work with coaches despite being the best in the world, and for today’s post, I want to cover exactly why you should consider hiring a coach as well.
Download Your FREE guide to evicting a tenant!
We hope you never have to evict a tenant, but know it’s always wise to prepare for the worst. Navigating the legal and financial considerations of an eviction can be tricky, even for the most experienced landlords. Lucky for you, the experts at BiggerPockets have put together a FREE Guide to Evicting Tenants so you can protect your property and investments.
First Things First: A Coach is NOT a Guru
For me, I understand a coach to be someone who has a very simple payment structure, meaning they are not going to be upselling me on their “Secret Advanced Course.”
They typically charge a flat rate by the hour, you meet with them 1-4 times per month, and are intimately involved in your business.
Gurus, on the other hand, are those that promise you the world, spam-blast your email with information products, and charge you way too much for the value they bring.
They typically teach at scale (meaning a lot of people at once) and remain inaccessible for their students. I would never suggest or encourage you to work with someone like that. I’ve just heard too many stories of people getting ripped off from these info-product guys.
With a coach, they essentially become a counselor who gives you expert advice and action plans to bring your business to the next level.
They may be expensive, but if they’re good, they’ll give you a return that far exceeds their cost.
When you look at an investment, the cost of it shouldn’t be as big of an issue when compared to what return you’ll get out of it.
If it costs me $1,000-$5,000 a month, for example, to use my business coach, but over the next three years his guidance increases my business revenue by 10 times, is that worth it? Heck yeah!
I Wouldn’t Wait to Hire a Coach
Working with this coach has really been one of the best things I’ve done. I’ll go over the benefits in more detail here in a bit, but I wanted to first mention that I really regret not doing this sooner.
I know a lot of people are bootstrapping their way to success in real estate, but again, I want to encourage everyone to begin their business with some working capital.
I know it’s not popular and it’s definitely not sexy, but saving up working capital so that you do things like hire a business coach right when you first get started could bring you lightyears ahead of the game.
The Benefits of Hiring a Business Coach in Real Estate
The truth is, in order to be the best at anything in life, I have found that you need a coach. I now hire a coach for every aspect I want results in. Whether it’s business, health, or spirituality, I really believe in mentorship. Below are the 3 benefits a coach will bring you.
1. Helps You Think Outside the Box
When I first sat down with my business coach, I told him my business was like a hunk of swiss cheese. It was tasty, but had a bunch of holes in it!
I was seeking his help on how to fill those holes so that we could get to the next level.
He then helped me identify what these holes were and how we could best fill them.
You see, having a third party who isn’t caught up in the mess of things can really give you keen perspective and help you see how the “machine” of your business is running.
So many times when you are so wrapped up inside your business, you end up being blind to what’s right in front of you, and a coach helps you to see again.
2. Helps You Identify, Plan, and Achieve Your Goals
At the beginning of this year, I set out a goal to read two books per month. Guess who’s going to be asking me if I actually did that next month? Yep! My business coach is really good at accountability.
Whether you’re setting a goal to do a certain amount of business or to make enough to give your employees a certain percentage of a raise, having an accountability partner has proven to be a crucial part of goal-setting.
You know, in life it’s so easy to get bogged down with what’s urgent — what’s fighting for our attention versus that which we deem most important.
What’s important in life is not what’s in your bank account but rather what’s going on in your heart.
If you set a goal that is of real significance to you, it’s crucial to have the help and support needed to reach it, especially when a lot of things can try and take your attention away from it.
3. Helps Remind You Of Your Vision, Your Values & Your Purpose
Working with a business coach is like flying in an airplane and seeing your business from a top-down perspective.
It’s so easy to just aimlessly work and work with no direction, but with a coach, you instantly have a strategy and a plan of action to really get the most out of your business.
In my real estate business, we’re really trying to become more than just a wholesaling company. We want to get involved in our community, host church events and outreaches, and just be something more.
My coach helps me externally process what I want that to look like and then outlines practical steps to make it a reality.
It’s critical for you to get out of your business and to begin working on it in order for your business to truly reach its full potential.
Hiring a coach will make that happen for you.
I cannot tell you enough how much of a massive shift has happened in my business because of this decision, and I want to encourage you all to consider doing the same.
Thank you so much for reading this week!
Investors: Do YOU have a business coach? If so, how much has this decision helped you?
Let me know with a comment!