Why You Need To Become a Coach in 2023

Speaker 1: 0:18

Fact of the matter is that 81% of coaching businesses fail within three years.

Speaker 2: 0:24

Than three years. This is just a fact. Yeah, it pained us so much, it hurt us really at a soul level when we witnessed this firsthand and then started getting into the statistics.

Speaker 1: 0:37

Yeah, and we saw this over and over and over again, and these are the main three reasons that coaching businesses fail. If you want to write this down, if you're taking notes, they don't know how to communicate what they do and what the positive outcomes will be for their clients. That's number one.

Speaker 2: 0:54

That's number one, and this is in all types of coaching. You see, executive coaches fail to communicate that of which is somebody is going to get as an outcome. You see life coaches fail to communicate what they're able to do to help somebody and what the client's going to get as an outcome. You've got individuals out there in the neurolinguistic world called NLP coaches. Man, they really, really struggle.

Speaker 1: 1:18

Because it's full of jargon.

Speaker 2: 1:19

It's full of jargon and so they absolutely can't explain what they do and what is the outcome that's going to be for a client. This is a known known in the coaching space.

Speaker 1: 1:27

Yep. Number two reason is they don't know how to market themselves outside their address book and they don't know how to sell their services.

Speaker 2: 1:36

Right, we're dating ourselves, but what Shane and I used to say back in the day was coaches fail because they can't market outside of their Rolodex. Does anyone remember what a Rolodex was Back in the day? You can give an idea of what generation we are by knowing what that is. Is this little thing that business cards believe it or not used to go into physical cards and used to spin?

Speaker 1: 1:54

I know paper.

Speaker 2: 1:55

We used to keep paper Anyway so back in the day was a Rolodex, these days it's an address book. Yeah, when a lot of coaches they tap out their address book and after that they're done Yep, like they fully use it up and then after that they're tapped.

Speaker 1: 2:12

Number three reason is they devalue themselves and charge way too little for their coaching services, and then they burn out.

Speaker 2: 2:20

And that sucks, and this happens a lot. This happens a lot. So big picture Number one inability to communicate.

Speaker 1: 2:28

What they do.

Speaker 2: 2:29

What they do and what is the positive outcome that the client is going to be able to get from working with them. Number two they're not able to market outside of their own address book. After that they're done, they're tapped. Number three they devalue themselves and charge way too little for their coaching services. Here's a statistic for you, just so you know the average life coach charges $150 an hour. Some people are like, well, that's not bad, that's a decent wage. But the reality is, what you have to understand is that it's way too little for transformative work. Let me give you a contrast to that the average mind power coach charges $1,500 an hour. So that's 10x. But let's go deeper into the statistics so that you understand again. Why did we create Mind Power Coaching Academy? Well, the plot thickens. The chips are not stacked in your favor. I just got to tell you. The reality is most businesses fail in general. Most businesses fail in general.

Speaker 1: 3:28

Yeah, 66%.

Speaker 2: 3:30

Yeah, 66% of businesses fail in three years. Actually, 96% of businesses fail within 10 years and the reality is, even after 10 years, half of those that survive, they just subsist and they actually struggle to survive. They don't even thrive. If we have anything to say about it, we will not let you be part of these statistics. We'll say as a coaching business, or raise your hand again if you have other businesses aside from coaching businesses.

Speaker 1: 3:58

Your business in general.

Speaker 2: 3:59

We won't let you do that in general. Right, look at this. I want you to think about Mind Power Coaching Academy, about being a program that is not only going to turn you into a world-class, elite level coach, mentor and leader and, at the same time, literally is going to be the program that's going to help you to grow your business to the next level and for your business to survive, and that's coaching or the other type of business that you have. Or, for some of you, if you work for somebody else's non-entrepreneur. Entrepreneur has their own business and entrepreneur works for people within a company, hence intra. Regardless, we want to make sure that we increase your chances for success. Right? See, we've been in business, and consistently profitable, for over 14 years. See, we've also scaled our coaching business into a multimillion dollar business, so we know what it takes to succeed in business in general and especially a coaching business. Why? Well, for a few reasons.

Speaker 1: 5:00

First of all, we have failed.

Speaker 2: 5:02

Oh, we have.

Speaker 1: 5:03

Actually, many times we have failed Yep, and truth of the matter is we consistently experience failure. We have failed multiple times. Even this week we have, and it's only Tuesday.

Speaker 2: 5:17

I failed once this morning. I failed a few times this morning.

Speaker 1: 5:21

So we're consistently failing right Now. Remember, though we want to, you know, have you look at failure differently? Failure is how you grow, yep. Failure is how you succeed. The secret, though, is learning from each failure and growing from that Yep. So one of the reasons that we have been able to be so successful is because we've learned from our failures. We've been through the belly of the beast and the belly of death, so that you don't have to.

Speaker 2: 5:48

Yeah, number two we've also learned from others' failures. We've always surrounded ourselves by friends and mentors who walk much, much, much faster than us, and these are high value associations where we share battle stories with each other, and really on an ongoing basis, so we can really learn from each other. This is important. There's a lot that you can learn from other people's failures as well.

Speaker 1: 6:14

Absolutely. We've also learned from other successes. These same high-valued associations are universe-dentine friends, as we call them, and our mentors. They also share their successes with us and we do back with them. So these are high-impact synergistic relationships that allow us to grow to the next level.

Speaker 2: 6:36

Isn't it interesting? The late Jim Rohn alluded to these three success principles. He said straight up it's important to learn from your mistakes, but it is better to learn from other people's mistakes. It's best to learn from other people's successes because it accelerates your own success.

Speaker 1: 6:53

Our ultimate goal is to guide you to places that you've never been before, and faster than you could on your own.

Speaker 2: 7:00

Ooh, that's important. Yeah, Listen, that's why we all need a coach. That's why we all need a coach To guide us to places we've never been before faster than we could on our own. Ask Oprah, ask Tom, ask Richard Branson, chris Amour, steve Jobs, sarah Blakely, maybe Elan Mosk, any elite level physician, navy Seals Ask any of the super successful people in the world today. They all have, or had, multiple coaches and mentors. We discovered these facts when doing the research for our book Master your Mind Power, which is a top of your research project. Speaking of real quick. We get asked all the time why did we write the book originally? People ask us this all the time.

Speaker 1: 7:42

Right? Well, we were sick and tired of hearing these airy-fairy new age concepts thrown out by development gurus that just said things like you just got to think positive and have positive mental attitude, but nobody ever taught how to do it. And that was very important to us because we knew that there was a step-by-step process. If people knew how to think positive or how to do positive mental attitude, they'd be doing it by now, right? So we really wanted to get into the minds of the greats to think how to learn. How did they think, how did they behave and how did they create so much success and what made them so resilient and what made them so successful?

Speaker 2: 8:27

So this is important. One of the things that helped them separate themselves from the pack was that they all had coaches All of them, not one that we researched and studied. I mean and this is hundreds of super achievers, some names that you know, some names that you don't know they all had some sort of coach or mentor, or some of them had multiple at any given moment. Tom Brady I mean talk about one of the greatest of all time in American football had five mentors and coaches, right? So all of them had some form of coach. Also, what we discovered is they all had some sort of a mindset or mind power coach. Right, this is straight from Elon Musk. I mean, talk about this powerful quote he said, quote unquote I wouldn't be where I'm at right now without my mind power coach, and his mind power coach is one of the reasons why he has created so much success. We discovered yeah, that's huge.

Speaker 2: 9:23

We want you to stop. Just stop for a moment, Close your eyes for a moment, stop and imagine just for a minute what it would be like if you coached the next Elon Musk, oprah Winfrey, sarah Blakely, steve Jobs, tom Brady, michael Jordan, kobe Bryant, lindsey Vaughn Imagine what it would be like to coach that individual to help them become the next universe center. And, by the way, when I'm saying coaching, I'm talking about formally or informally. Some of you are like, yep, I'm here to be the best version of myself and to become the best mentor, coach, leader, et cetera. I want you to realize that you might have somebody that you come into contact with one day and that one powerful discussion you have, where you're utilizing mind power coaching techniques and principles, literally could have a positive impact in that person's world and brighten up their world a little bit, even if you're not doing formal coaching.

Speaker 2: 10:23

But think about it. Think about if you had that impact. You touch somebody. The next thing you know somebody that, 20 years down the road, has a quote like this and they have a picture of you in their head. Whether it's formal or informal coaching, I think that's pretty exciting. So just know this whether you're gonna be doing mind power coaching formally, meaning with clients and you're getting paid for it, or informally, like within your organization or within your community, within your church, within your family, right the reality is just understand this the world needs you as a highly trained, elite level coach.

Speaker 1: 11:00

They actually need you now more than ever.

Speaker 2: 11:02

It's true, it's true. We need you to understand kind of the state of the state and what is happening within the world.

Speaker 1: 11:08

okay, See, mental health is at an all-time low globally. Right now, people are more stressed, overwhelmed and scattered than ever, and especially since the pandemic.

Speaker 2: 11:23

Yeah, secondly, more people have more running parachutes than ever before. Right? How many of you are familiar with our metaphor, the running parachute? And for those of you that are new in the community, or if this is only your second time hearing it, it bears repeating. And for us to kind of do a refresher on it, because you yourself, as a Mindpower Coach, are gonna wanna make sure that you've got this I will say language down in this story, down in this metaphor, down as you're talking to people about their limitations. Remember that athletes train with you.

Speaker 2: 11:55

Shay and I fun fact that a lot of people don't know Shay and I used to compete in triathlons. Shay was a long distance runner, I was a long distance cycler, and we taught each other how to do the opposite. So she taught me how to run, I taught her how to cycle, and she was also a good swimmer and she taught me how to swim. And then we started competing in triathlons. We used to train with these training parachutes. It's intense and one of the hardest things to do, too, is to do it against the wind, because you have all this drag behind you and you're literally fighting the resistance. But what occurs? The body gets a newfound strength, a newfound power, right, because it's overcompensating for the drag of the running parachutes. Then game day, race day, of course you're not gonna put these on anymore, but the body thinks it's gonna be there and it has this, almost as if by magic. Suddenly it's got this newfound strength and power and agility speed.

Speaker 1: 12:49

So the body, the athlete is better, faster and stronger.

Speaker 2: 12:54

Now we have all been battling, running parachutes, and these aren't wounds that have needed to heal. The reality is they were things that were making a stronger and better for the present moment.

Speaker 1: 13:04

Now these look like things like fear, anxiety, guilt, anger, self-doubt, not good enough, sadness, and these are things that we got from other people in, usually our childhood.

Speaker 2: 13:19

Now, and these running parachutes are invisible. We have not known that. We've been training with these. The reality is, they had a positive purpose, which was to make us better, faster and stronger right, and so the reality is. Is that there we are and have been our whole life fighting against these things. Now, this is one of the reasons why people are also struggling. Right now, and this is one for your notes the two most dangerous running parachutes are fear and self-doubt. Yeah, and the reality is they're the most recurring, and what do I mean by recurring? Meaning? These are running parachutes that you can disconnect, but they can come back. Why?

Speaker 1: 13:59

Because of the media social media just what's going on in the world, right? It's very prevalent in our environment, and so these running parachutes are easily able to be reattached to us. Yep, yep, yep, yep, yep, yep, yep, yep.

Speaker 2: 14:14

Yep, yep, yep, yep, yep, yep, yep, yep. So, and they've been here to make us better, faster and stronger. Whenever these running parachutes are gone, as almost as if by magic, suddenly we are just faster, have more agile, we're more explosive, we have faster top speeds right, so same thing. But this is also why individuals are struggling today. They're stressed, they're overwhelmed, they're scattered and they're battling their own running parachutes that are invisible, Yep, but they got from other people. They don't know that they're there and they just feel like they're moving through molasses.

Speaker 1: 14:48

And as they go on through life, they become slower and more run down and more tired, right Cause they're consistently trying to pull these and, as they get older, more attached to them.

Speaker 2: 15:01

Now teens and twenties, no problem.

Speaker 1: 15:04

They can kind of just you know infinite energy. They can barrel through it, just use their natural adrenaline to just drive through it.

Speaker 2: 15:12

Then the twenties and thirties ensue, and then things start to slow down a little bit because the running parachutes have been starting to wear down the individual. Okay, so what happens? Well, there's some good things and there's some bad things. Some good things like breathing, you know.

Speaker 1: 15:26

Yeah, people might try to overcompensate Exercise breathing exercises or fitness exercise.

Speaker 2: 15:31

Prayer, meditation, Prayer meditation or uppers, caffeine and things you know, to just try to overcompensate for the running parachutes. Forties and fifties happen and you can throw the whole kitchen sink at the human body to try to lift it up, and it just doesn't work anymore.

Speaker 1: 15:48

Yeah, I'm not gonna do it.

Speaker 2: 15:50

Who can relate to that right? So what happens? There becomes a point where the running parachutes are just slowing an individual down and there's nothing they can do positive or negative to be able to just lift themselves up anymore.

Speaker 1: 16:04

And this is where the person might start to feel like they wanna give up right.

Speaker 2: 16:08

This might be the point where the body gets diseased. On top of all of that, most economists agree that a global recession is likely this year. Some actually say we're already in an unofficial recession. Some countries are experiencing full-on recessions right now, compared to some other countries regardless. Let's not get into that nitty gritty and what media channel is saying what, but let's talk about the facts. Food and energy costs are rising, interest rates are rising, so there's all the signs of some aspect of a recession correction. What have you on the horizon, if not already here? So this you have to understand any single time that there's any sort of an economic downturn. Whether it's a hard landing, a soft landing, a slow burn or a fast burn doesn't matter. Regardless. Generally speaking, 90% of people will struggle during a recession.

Speaker 1: 17:08

This is key for your notes. Make sure you got that 90% of people will struggle during a recession and 10% will thrive. 10% will thrive.

Speaker 2: 17:20

And I don't mean we, don't mean survive, we mean thrive Like we'll amass wealth. We'll amass wealth and riches like they have never experienced before and just we'll grow overall, personally and professionally. So you need to understand that we have a perfect storm brewing right now. Okay, people are more stressed, overwhelmed and scattered than ever before.

Speaker 2: 17:49

They have a bunch of running parachutes, especially fear and self-doubt, especially the two most dangerous type. There's just such huge, huge need, huge need, yep, huge need. Remember, mental health is at an all time low. Every statistic that they're talking about in terms of mental health has everything at a serious, all time low. So we need you and we need you to be the best version of yourself possible as an individual, and we need you to be the best possible version of yourself as a coach and a mentor and a leader and a parent.