Why Million-Dollar Coaching Promises Should Make You Leery

By on July 1, 2011

hand with golden eggsBy Kathy Caprino, M.A. –

“It is a mistake to look too far ahead. Only one link of the chain of destiny can be handled at a time.” – Winston Churchill
These past few years I’ve been connected with literally dozens of coaches who promise that, if you follow their work and their model, you’ll be a millionaire.

Really?

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I’ve listened intently to numerous coaching teleseminars these past months about how to make a million dollars, and so many are all about the insider “secrets” to making seven figures, and if you follow their “five easy steps” (or whatever model they’re pitching), you too can do it easily and effortlessly.

I don’t know about you, but I’m up to my craw with these ridiculous promises. Why do they annoy me so much? Because they’re misleading and unethical, and leading thousands of people down a path that is clearly not in their best interest.

I’m not saying that people can’t make a million dollars in their coaching practice, or other forms of business, and I’m not saying that there aren’t some great coaches out there who help people reach the million-dollar mark and higher.

I am saying that there are many more ineffective, self-serving coaches who aren’t capable of helping you reach your high goals. If you’re broke, and are told you can go from that to a millionaire in a year because you’re following this one coach’s program (and not doing all the inner and outer work it truly takes to be abundantly successful), then you’ll be sorely disappointed and waste a great deal of time and money in the process.

Here’s the rundown of my serious complaints about so many “millionaire” coaches:

Often millionaire coaches end up telling you exactly how they made their million, and recommend that you should follow their “five easy steps.” However, my many years of training as a therapist, coach, marketing and business exec, writer and researcher of women tell me that:

1. Easy Steps aren’t the ones that bring about life change: If it were easy, you’d be doing it! What brings about massive shifting and change is the challenging stuff – the actions that make us fearful or take us WAY out of our comfort zone. And “easy” steps are not necessarily easy or right or aligned with everyone. Offering specific “easy” tactics to help people make more money is fine as far as it goes, but it’s not far enough without helping the individual identify specifically the powerful internal shifts they need to make to bring about far greater success.

2. Broke to Millionaire – it’s doable, but I can tell you, if you’re flat broke, and are given a promise you can make half a million next year, it’s misleading at best, devastatingly off-track at worst. The reason for that is that we all operate on a level that we’re comfortable at right now, and launching yourself 10 levels higher doesn’t typically work. What does work is slow and steady progress to the next level higher, then the next and the next, and continuing that process with vigilance and commitment.

3. Cookie-cutter models are ineffective – A cookie-cutter model to generate a million dollars in revenue is absurd. To make seven figures, you have to power yourself up in ways that you don’t even realize right now – in your mindset, beliefs, actions, offerings, sense of worth, expectations, financial planning savvy, boundaries, self-advocacy, and in your relationship with money and success. And you don’t do that by following someone else’s basic tactical strategy. You do that through intently focused inner and outer work that brings you – step by step, day by day – to a new place that is right for you specifically.

4. These promises are entirely self-serving – These millionaire coaches want you to think it’s easy to follow their plan and succeed, because that’s how they make their millions! Signing people up for programs that cost thousands of dollars, when in many cases the individual being coached can’t possibly recoup those thousands of dollars that year (or in the several years to come) given their mindset, capabilities (at the moment), and business model—that’s just plain wrong.

I come from a perspective of social and ethical consciousness, so seeing these promises being made in sleek and sleazy teleseminars and long-copy marketing pages – the whole thing makes my head spin. They talk about offering high value and content in the teleseminar, but literally 60% of the seminar is selling their next event (using a cookie-cutter marketing approach for selling events!).

About money – I’ve made six figures in many years throughout my career, and I know what it takes to do it, and it’s not “5 Easy Steps.” In winning the Make Mine a Million Dollar Business “Micro to Millions” program award in 2008, that one event in my life stepped up my goals and visions for my company significantly, and took me to new heights overnight. Of course, you can power up your career and your business and make great money – and a million dollars is within your reach if the necessary events, factors and ingredients are there, but it’s not through an easy five-step coaching model.

If you too are tired of (and disgusted with) these empty, over-simplistic and grandiose claims and selling tactics, you’re not alone! And don’t worry – you’re not being resistant or pushing away your millions to say that that these coaches and messages turn you way off. There are other ways and means (and empowering mentors, coaches and consultants) who can truly help you achieve what you long for.

The key is in discernment – figure out how to tell the difference between a flashy, self-serving promise (that makes the process sound far easier than it is) vs. a heart-felt commitment to your success — with the intellectual, spiritual, and ethical chops to make it work for you. Find helpers who wish to be of true service in helping you become exactly what you want to be in the world.

Thanks for listening to my rant! And PLEASE share – are you tired of these empty, vacuous, and absurd promises? I’d love to hear.
About the Author

Kathy Caprino, M.A. is a nationally-recognized women’s career and executive coach, marketing consultant, speaker and author of Breakdown, Breakthrough. Founder/President of Ellia Communications – a career and executive coaching and marketing consulting firm for professional women, Kathy is a sought-after writer and speaker on women’s career trends, and has appeared in over 100 leading magazines and newspapers and on national TV. Visit http://www.elliacommunications.com/ for more info.

About Kathy Caprino

Kathy Caprino, M.A. is a nationally-recognized women’s career coach and work-life expert, executive trainer, Forbes contributor, writer and speaker dedicated to the advancement of women in business. Author of Breakdown, Breakthrough, and Founder of The Amazing Career Project, Kathy is President of Ellia Communications, Inc. -- a leading career and executive coaching and training firm helping professional women build successful and fulfilling careers of significance, and reach their highest potential. For more information, visit kathycaprino.com or write to [email protected] Connect with Kathy on: Twitter, FB, LinkedIn.

3 Comments

  1. Beverly Lewis

    July 20, 2011 at 6:35 am

    I hear your voice of reason and sanity. You’ve boldly spoken what thousands have thought. I hope we have opportuntity to meet. Your articles are brilliant.

  2. Kathy Caprino

    July 20, 2011 at 7:29 am

    Thanks so much, Beverly. Appreciate the feedback and the kind words. Let’s connect via social media if we can. Great to be in community with you. Best, Kathy

  3. RosalieG

    July 21, 2011 at 11:38 pm

    Totally agree.

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Why Million-Dollar Coaching Promises Should Make You Leery