Coaching Blog

Coaching Schools: Why Money-back Guarantees Are Bad

Posted by Julia Stewart

Pros & ConsEvery week, I talk to people who want to choose the right coaching school for them...

And of course, money is always an important concern. Recently, the topic of money-back guarantees came up in a couple of conversations.

A few coaching schools offer money-back guarantees and they're a bad deal for several reasons.

For starters, they give new coaches the illusion that they have nothing to lose and boy, is that not true!

Reason 1: The Opportunity Cost is Far Higher Than the Tuition

Months ago, a coach contacted me who was attending a coaching school that I used to teach for, which offered a money-back guarantee when he joined in 2003. After years of taking zillions of classes, he still doesn't  have a coaching business.  Now he realizes he's in the wrong coaching school, wants his money back and thinks SCM may be the answer. He'd been contacting the other school for months to get his money and so far, has just gotten a run around. He told me he'd join SCM as soon as he has his money back. He's still waiting.

Result? Most coaches can put together a professional coaching business within a year or less, with the right support (Yes, even in this economy). And a moderately successful coaching business can easily earn $50,000 per year. (Some coaches earn six figures, some coaches, a lot less.) So if this coach had been coaching full-time since 2004, making $50,000 per year for five years, he'd have made $250,000 by now.

Not only that, he'd be spending his days doing what he loves instead of putting in thousands of hours at a job he can't stand.

So for a "no-risk" investment of a few thousand dollars, he's cost himself hundreds of thousands and years of his life.  

Reason 2: No Risk No Reward 

As I said, I used to teach at the afore-mentioned school. With low tuition and a money-back guarantee, it grew quickly. There were some highly-talented coaching students there - and there were a bunch who probably should never have gone into coaching. With a low entry barrier, many people who had heard you could make big bucks as a coach had joined. Still others had lost their jobs in the last recession and joined that school because they wanted out of the rat race and thought they had nothing to lose. If we make starting a coaching business sound too easy and coach training, no-risk, people join without being sure they really want to become coaches.

Result? Lack of commitment. And unfortunately, lack of commitment usually leads to lack of success. (Ask any successful coach. We're in the business of success.) In addition, the coaches who don't belong are unhappy and their lack of success becomes an energy drain for the whole community. 

Reason 3: The School May Not (Be Able to) Return Your Money

The man who started that school was good for it and he was extraordinarily talented and completely sincere. However, he passed away suddenly of a heart attack, leaving the school to one of his colleagues.  By the time the estate lawyers were finished with it, the school's resources were depleted. And many of the students were unhappy with the change of command. They wanted their money back.

Result? Student requests for refunds went unanswered for months. Some gave up; some took legal action. No fun for anyone. 

Reason 4: You Don't Really Want Your Money Back

Nobody joins a coaching school hoping it won't work out and then they'll have to ask for their money back. What they want is to become a successful coach. If you sincerely want to become a successful coach, look for something better than a money-back guarantee. Look for a school whose students are succeeding. Not just an exceptional few, but the vast majority. That school will require you to put your "butt on the line" as my coach would say. They won't accept just anybody with a credit card. They'll check you out, to make sure you're serious about coaching, even while you're checking them. And they will guarantee value: Effective class material, the best instructors, a proven path to success.

Result? You get what you really want: A successful career as a coach. 

Reason 5: Getting what you pay for is way better than getting your money back. 

You want to get it right the first time, don't you? So, look for a school that guarantees the value you really want. That's a Value-Back Guarantee. 

You've probably guessed that SCM doesn't offer a money-back guarantee. But we do have a Value-Back Guarantee. What does that mean? If you put your own butt on the line by taking advantage of all the resources we provide and do your best to follow our instructions - and it doesn't  work out for you (Ex: You don't pass certification or you can't find clients) we won't offer you a refund, we'll bust OUR butts to give you what's missing (like, individual attention, new course material), because our job's not done until until you have everything you need to be successful. 

Our coaching students are building successful businesses. And not after years and years of stuggling. They're building coaching success in their very first year - even in this recession! 

 

Copyright, Julia Stewart, 2009 

Topics: coaching business, coaching school, become a coach, free coach training, coaching success, SCM, coaching schools, get certified, coach training program, six-figure coaches, money-back guarantee

School of Coaching Mastery

Posted by Julia Stewart

School of Coaching Mastery LogoOkay, there it is. The new School of Coaching Mastery logo. Putting it out here on my blog is an announcement of sorts. SCM has been a kind of brain child for several months. Maybe longer. I think it was gestating for a couple of years, while I was saying, "I don't want to start another coaching school, there are too many out there, already."

I didn't choose SCM though, it chose me.

For about a year now, people have been coming to me from all over the world saying, "I think I might want to become a coach. How can I find out? Where should I train? Can you help me?" I felt at a loss, because most of the schools I have direct knowledge of, where I trained and where I taught, I have reservations about and I can't recommend the ones I don't know about. I did have programs to offer, like the beginner-skills Coaching Groundwork and the client-attraction Experienced Coach Program, but these people were looking for more than just a program.

Other beginner coaches would ask to join the Seven Secrets of Certification, which is really for intermediate coaches who are preparing for IAC Certification via coaching mastery. That can work, but sometimes the coach really needs more tools, first.

I've got too many programs with too many gaps between them. That confuses people.

What if I shaped it all into one school? What if that school prepared coaches for IAC certification (and beyond) from the very beginning? Hmmm...

That's the certification that I believe in and that's the only approach to coach training that makes sense to me. Most coach training schools base their training on coaching models that were developed in the 90's. Coaching has already evolved way past that.

Other schools are a little too commercial for my taste and/or they're based on values that aren't that useful for solving 21st Century problems.

Maybe the world really does need another coaching school.

If I weave together the programs I already have and fill in the gaps, I can create that school fairly easily. That's inspiring ~ maybe I've really been designing this school all along.

What would the ideal coaching school look like to me? That question has become a fun toy to play with. Time to invite others to play, as well. Over the next four months, I will be meeting with advisers, colleagues, clients and students to get their input on what kind of coaching school the world really needs, as of 2007, and where this school may need to grow in the future.

What will it look like? I don't really know yet, but I'm thinking small classes and targeted training with a lot of practice coaching from the very beginning ~ a "boutique" approach. Gifted coaches learn fast, when given the opportunity and attention they need.

I'm also thinking the trainers should be genuine experts with a real gift for coaching and teaching. (Right now, that would just be me ~ sorry ~ but perhaps not for long.) So many coaching schools are staffed by students or recent graduates of their own programs. Sometimes the instructors aren't even paid. That's just not good enough. You need excellence to teach excellence. This ideal school will be staffed by a well-rounded assortment of expert coach/trainers.

I think the program needs to be flexible, so coaches can get what they need, without being tied down to unnecessary requirements. That just instills a culture of mediocrity and cynicism and isn't useful in a world that needs inspired leaders who can stay ahead of constant change.

Live training? Teleclasses? Webinars? Practicums? MP3's? Video? Probably all of these ~ and whatever else works best, as well.

In the meantime, I will continue offering the programs I do have, while I design what is next. And I'll get to work on the new website, while keeping an SCM web presence at www.yourlifepart2.com.

Topics: coach training, School of Coaching Mastery, Coaching Groundwork, coaching schools, IAC, coach training school

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