Whats it worth to be coached in order to have financial freedom?We went and had a look at the investment and franchise expo at brisbane convention centre today.Ben Healy who owns Wealth Coach Australia had a stand there and what he does is give people one on one coaching to create wealth.He’s 37 and and doesnt need to work anymore he claims that if he decides to take you on as a student and do what he shows you then you will succeed.He doesn’t try and sell you realestate or shares or anything that he has a vested interest in, he simply shows you how he did it and how he’s still doing it.It comes at a cost of course 3k+ per year.Has anyone paid to have this sort of mentoring and if so how are you doing?I dont have a problem paying a mentor good money to show me how its done,i would even work for free in order to obtain knowledge like the book “Rich Dad Poor Dad”.What are your thoughts on how much one should pay for personal coaching and has anyone dealt with wealth coach at Milton Brisbane.
CoreyjayaussieinvestorParticipant@aussieinvestorJoin Date: 2003Post Count: 67
Thanks for providing such an interesting post, I’m sure it will be very popular.
If you are a regular poster on this forum, and/or subscribe to Steve McKnight’s newsletter, you will find that Steve is contemplating a similar style of program. In his last communication, Steve mentioned that he had not finalised any pricing structure, but a figure he was throwing around was $5.50 or a cup of coffee a day. This equates to around two grand a year.
I don’t really know anything about Steve’s program or it’s delivery medium, only that it will be a combination of electronic based (email/internet etc) and face to face or telephone. I will stand corrected however, if I am not right as at this stage it appears only to be at the market research or development stage.
In relation to whether you get value for your money, I guess it is a bit like investing in real estate, due diligence conducted prior to signing with anyone will allow you to determine what you get for your dollar, regardless of what the actual price is.
Some of the research I would be doing is:
How many other subjects will be in the program? Let’s face it, if there are a large number of participants for the want of raking in the cash, how ‘personal’ will the service be? In know that Dolf De Roos has a program called ‘Property Prosperity’ which is conducted via pre-recorded video streaming. There will be a topic for the week then Dolf will answer questions sent by email by participants. I actually had one of my questions answered (about four weeks after I sent it), although it was read probably for the entertainment value of the question rather than the any useful information. The big problem was that it was hardly a mentoring program because there was no personal contact with the ‘mentor’ and I’m sure that there was no restrcition on the number of participants.
Another question would be is whether the mentor will be warm and fuzzy in order to keep to me on as a client and telling me things I want to hear or will he/she tell it to me as they actually see it. I was fortunate enough to participate in Dave and Steve’s Kiwi Adventure in February this year. Whilst I am not endorsing any of their products or programs, I can tell you from experience that these guys are straight shooters and don’t beat around the bush. If you can’t take criticism, although very constructive, then you should perhaps grow a few extra layers of skin before signing up. They may be hard (as it may seem to some) but they are brutally honest, which is what I would expect from this type of service. I don’t know anything about your guy in Brisbane, but this would be one very important question I would ask. I would also seek references from some of his clients and contact them to ask them of their experiences.
Another question would be what happens after one year? Is it an automatic renewal? If so, how many new clients will be taken on for the next year? This comes back to the earlier point, how many clients/students/subjects will be on the go at any one time? Will I just be a number or actually a name and face? Is there a cap of total active participants?
What guarantees or performance indicators are on offer? No-one can guarantee personal success, but what business guarantees are there? Things like, if I make an enquiry, when will I receive a response? How much personal face-to-face or phone time does the mentor guarantee each student per day/week/year?
Finally I guess there is the question of credibility. Has the mentor actually walked the walk or just talking the talk? It’s a bit like receiving property investment advice from an accountant who does not invest in property or listening to a football commentator give their ‘expert’ opinions when they have not pulled on a pair of footy boots since school sports day.
I guess the most important aspect will be whether the mentor teaches his/her subject to learn from his/her experiences, both good and bad, to allow them to become independant by making their own decisions rather than making decisions for them. I reckon it is all about self-transformation, challenging one’s beliefs, aiming for personal growth and blowing comfort zones out of the water. If they don’t do this then chances are the subject will become reliant on them and once the program ceases for whatever reason, they go back to square one. A philosophy I use is, education acquires skills, application of the skills builds experience and the more experience (especially bad) promotes wisdom.
In relation to what to pay, well I guess that it all comes down to value for money and what you think is a fair price or should I say investment. Let’s face it, if it costs 2 grand or 3 grand, if the mentor is any good, the fee should pale into insignificance because the fee will be recouped many times over.
All the best…Giraffe
“Real Estate – The Foundations of Wealth”Bris4171Participant@bris4171Join Date: 2002Post Count: 29
I have been to a Wealth Coach seminar and also have discussed our investment situation with Ben at a private meeting. This was more than a year ago. Found Ben a genuine person however he/Wealth Coach did not offer anything to help my situation. At least he was upfront & honest and I appreciated that.
Feel free to contact me if you want to discuss further.cashpoorParticipant@cashpoorJoin Date: 2004Post Count: 22
I went to high school with Ben Healy. We are both 42 years old. Ben was honest and very smart at school.I have been told by other school mates that Ben was top score for making money since we left school ie many millions. Seems fair as he was one of the smartest.Hope this helps.
You right Bris 4171 i found ben to be a genuine person thats what made him stand out from the rest and that he was also a local he wasn’t pushy and answered my questions honestly.Some people at the expo treat you like a wood duck.Giraffe,i did get an email from steve regarding mentoring,im waiting to see what the outcome of steve’s price tag will be it was a good post you posted thanks for all your responses
CoreyjayBris4171Participant@bris4171Join Date: 2002Post Count: 29
I read my previous post again and thought it sounded a bit negative about Ben. So just want to clarify that I did not mean Ben would not be able to help you or others …..only my situation he could not do much and he clearly said so.
I intend to see Ben again in the very near future.
regards,Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 11,992
Firstly I don’t now Ben or his company.
I am Brisbane based also and retired last year at the age of 39 only to find myself totally bored and fed up with housework so the wife sent me back to work.
I now run a finance broekrage assisting people get on board with funding, wraps and other positive cashflow strategies.
I am happy to mentor you for the cost of a cup of coffee if you interested.
IP funding and US property finance
our specialitytoni89Member@toni89Join Date: 2004Post Count: 125
You can also get a lot of mentoring for free right here on this site. There are some amazing people here and the subjects are so varied. I personally am a number one fan of Dazzling! His advice is always excellent, but there are many others that have really good advice and tips.
You can educate yourself by reading loads of books and keep coming back here and others sites like this.
There are also investor meetings, check out the threads. I know there is one in Melbourne & a new one just started in Sydney. Here is where you will learn from others that have done it! It is also great to be surrounded by people who have the same interests.
Anyway……there’s my thoughts
Toni 89 do you know of an investers club in Brisbane?I know theres been talk of one on the forum but i dont think its eventuated.Qlds 007 thanks for the offer something to consider for when we are ready to push forward,at the moment we have to tidy up our financials but will hopefully be ready by Christmas to by another property hopefully comercial.I see you do finance my wife is a finance manager for a car yard but she doesn’t do home loans.We will be seeking the services of a broker maybe we can talk to you when were ready.Where are you based?
CoreyjayredwingParticipant@redwingJoin Date: 2003Post Count: 2,733
I’d be taking Richard up on his offer and shout him lunch if your keen for advice
“Money is a currency, like electricity and it requires momentum to make it Effective”
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Redwing remember you answered a question of mine a couple of weeks ago regarding rent GST? It ended up being that the agent had just put on a new property manager trainee and had know idea,but its all fixed now
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