Investing in The Right Program Introduction:
Hey everyone, Tanner Chidester here, CEO of Elite CEOs. Today, let’s talk about a crucial but often overlooked aspect of success—investing in the right program. It’s a simple equation: the quality of your investment determines the quality of your success
Quick answer: Is it worth paying more for a business coaching program?
Yes, if the program has the experience to get you results. Cheap programs usually mean less experienced trainers and weaker support. Saving money by paying $5,000 instead of $15,000 is a bad deal if you make 75% less in returns. Judge a program by what it pays back, not its upfront price. I spent $200,000 on coaching in one year.
- Picking a program by budget caps your potential.
- Paying $5,000 instead of $15,000 costs you money if it means 75% less in returns.
- Judge a program on experience, specificity to your field and level of attention.
- One on one coaching generally beats group sessions.
- I spent $200,000 on coaching in one year because I needed it, not because I wanted it.
“It’s a simple equation: the quality of your investment determines the quality of your success”
The False Economy of Cheap Programs
I see many entrepreneurs falling into the trap of looking for programs that fit their budget. But here’s the deal: success isn’t about staying within your budget; it’s about doing what’s necessary to achieve your goals. When you opt for a cheaper program, you’re essentially putting a cap on your potential success.
You Get What You Pay For
Why are cheaper programs less effective? Generally, they come with less experienced trainers, fewer staff, and inadequate support. They lack the resources needed to provide top-tier guidance. In contrast, pricier programs often have more to offer—more experience, better staff, and superior resources. This typically translates to better results for you.
The Back-End Equation
Here’s something I can’t stress enough: don’t just focus on the upfront cost. Consider what you stand to gain. If spending $5,000 instead of $15,000 means you make 75% less in returns, you’re not saving money—you’re losing it.
Three Pillars of a Great Program
When evaluating a program, consider these three critical factors:
- Experience: How long has the company been in business, and what’s their revenue? More experience usually means more refined and effective strategies.
- Specificity: Does the program align with your field? If you’re a fitness coach, for example, find a program that has successfully scaled a fitness business.
- Attention Level: What kind of attention will you receive? One-on-one coaching is typically more beneficial than group sessions.
The Investment Mindset Shift
This year, I paid $200,000 for coaching. Not because I wanted to, but because I needed to. It’s all about shifting from a ‘want’ mentality to a ‘need’ mentality. Investing in your success isn’t a luxury; it’s a necessity.
Investing in The Right Program Conclusion: Choose Wisely
Stop short changing your success by opting for budget-friendly but ineffective programs. Invest in quality, and the returns will more than justify the expenditure. Remember, making decisions based on price is a shortcut to mediocrity. Invest in greatness, and watch as your business transforms.
Frequently asked questions
Why do cheap coaching programs often fail to get results?
Because you get what you pay for. Cheaper programs tend to have less experienced trainers, fewer staff and weaker support. Higher priced programs usually bring more experience, better people and better resources, and that typically shows up in your results. A cheap program feels safe, but it quietly caps how far you can go.
How should I compare the cost of two business coaching programs?
Compare the returns, not the price tag. If you save money by paying $5,000 instead of $15,000 but make 75% less in returns, the cheap option cost you money. Look at what each program realistically pays back on the back end. The upfront price is only half the equation.
What should I look for when choosing a business coach or program?
Check three things. First, experience: how long they have been in business and how much revenue they have done. Second, specificity: how closely the program fits your field. Third, attention level: one on one coaching generally beats group sessions. A program that wins on all three is worth paying more for.
How much do successful entrepreneurs spend on coaching?
More than most people expect. I spent $200,000 on coaching in one year. I did not do it because I wanted to. I did it because I needed it to get where I was going. Shift from a want mindset to a need mindset, and coaching stops looking like an expense and starts looking like an investment.
