There’s a lot of pressure out there to always be learning and developing and we hear a lot of different methods on ways that we can grow as humans whether it’s hiring a business coach, joining a mastermind, buying an online course, but it can be super confusing to navigate and it can also be really hard to know what the right investment is or if an investment will be worth it for you.
So let’s talk about different ways you can be mentored throughout your journey, I’ll share my own experiences and investments – some totally worth it, others not so much – and how you can cost it out to make the best decision based on where you’re at, your goals, and where you want to go.
First, I’m putting you in the captain’s seat here and I want you to listen closely as I outline the different ways you can learn, be mentored, and grow as a business owner. I’m going to go from least expensive to most expensive here just so we can cover the gamut and I want for you to listen with a discerning ear to just think about what stage are you at and what resources are available to you right now so you don’t put off this journey if growth is something you’re desiring this year.
You being here shows me you’re already invested and in a GREAT and big way. Self learning is huge and that’s where I think most people need to start, prove to yourself that you’re committed enough to get yourself results for FREE. If you’ve only been a passive listener of this show and never implemented or taken any action based on what you learn here, let that be your first step. Apply, implement, get yourself results.
There are many free resources available online that you can use to teach yourself about different aspects of business, including blogs, articles, YouTube videos, and podcasts. This is the cheapest way to learn about business since it requires only your time and effort – key word: effort! Put some into what you’re learning!
Industry-specific forums and social media groups
I feel like this is an appropriate time to plug our Goal Digger Podcast Insiders Facebook group! We’re 62,000 members strong and you’re absolutely invited. There’s something incredible about not isolating yourself in your journey and one FREE way to do that is through networking in forums or industry specific spots.
You can join online forums and social media groups that are specific to your industry or niche to learn from others who have more experience than you. This is a free way to learn from others, ask questions, have more accountability, and build a network of contacts.
Free webinars and seminars
You know I love webinars! Now let me preface this and say, not every webinar is valuable. I’m sure you’ve signed up for a webinar before and you felt like you walked away with nothing. I honestly hate those webinars BUT if you’re in a place where free is what you can afford when it comes to learning, sometimes it costs spending your time on some of the not-as-great webinars to find the real gems. I know for me, when I’m creating webinars, my goal is to give away such amazing content that someone can apply it and get results. If I can get you a result from free content, just imagine what I can do when you pay me, right?
Now, I’m the person who signs up for webinars all the time – this wasn’t just something I did at the beginning of my career, it’s something I still do to this day to learn about the topic from an expert, but also to see how the person presents it, what their offer is, and how their emails work. Attending these sessions is a low-cost way to learn from experts in the field.
Books and eBooks
Books and reading (or if you’re like me, listening on Audible) can be a huge way you can learn and grow. I remember at the beginning of my journey, reading so many business books. I actually had to ban myself from reading more for awhile because there was SO much content in them that I knew I needed to take a break and focus on implementing. How insane is it that you can find a wealth of information about business in books and eBooks, like think about it, most books cost between $20-$30, so that’s a pretty affordable way to learn. On top of that, many books are available for free from your local library or can be purchased inexpensively on websites like Amazon. Curious about a few of my favorite business books?
Here are my top five that changed my life:
- Launch by Jeff Walker
- Traction by Gino Wickman
- 100M Offers by Alex Hormozi
- Expert Secrets by Russell Brunson
- Purple Cow by Seth Godin
These can range from $30 – $10,000, so the curve is steep in terms fo what you can learn, what you can get, and the level of support you can find in online courses. My courses range from around $150 up to $500 and I’ve purchased courses that cost $5,000. In fact, the first online course I ever took was $5,000 and with the course I got a few one-on-one coaching calls but that was my first investment in learning.
There are many online courses available that cover a wide range of business topics, and some of them are free or low-cost, others are higher investment, but also higher touch. I am someone who swears by online courses, right now, as we speak I am a student in three online courses, one is about health and nutrition, one is about marketing, and one is about time management. I love online courses because I can log in at my own pace, revisit the content, and get templates and blueprints quickly that I can put into my business and get results fast. While they may not be as effective as one on one coaching, they are a more reasonable way to get access to an expert, take what they learned, apply it to your business, save yourself time and frustration, and get results!
Peer to Peer mentorship/trade
One of the things that you could potentially explore – and I say this with caution and care, is potentially exploring if you could trade knowledge, products, or services with someone who you respect. Now, I was slightly hesitant to include this but I also know how much I benefit from having peers that I can bounce ideas off of. The goal here is make sure that both people gain, that it’s evident that each recipient is getting value. When I was starting out, I traded photos for hair cuts and found different ways to create mutually beneficial arrangements when money was tight. Now it looks more just like natural friendship where you can bounce ideas off of each other, support each other, and show up.
The biggest thing here isn’t asking “what’s in it for me” but establishing what you can offer someone else and setting clear expectations on what that could look like for both of you!
Hiring a business coach
I’ve had different business mentors in different stages of my business but I’ve never formally hired a business coach for consistent coaching. That first course I ever bough came with a few one-on-one calls and that was my first look at having a mentor in that way, over the years I’ve had more strategy calls with people like Dean Graziosi but I’ve never had a specific coach that has stayed with me over a period of time.
I can absolutely see the benefit of hiring a business coach if you can find someone whose values you align with and who has experience in the areas you want to grow. A business coach can provide personalized guidance and advice on your business strategy and can help you develop skills in areas where you need improvement. This can be a more expensive investment, but it can be well worth it if you find the right coach.
One thing to think about before hiring a coach is: what is the end result you’re expecting out of the coaching and are you confident in the coaches ability to deliver. Get crystal clear on that and don’t be afraid to ask questions about what is included, what you can expect, and what you need before making this decision. Avoid generic claims, clarify the things that sound too good to be true, and make sure that the areas that you need the more support in are places the coach feels confident in helping you.
Going to a conference
Conferences can be incredible for a million reasons but they do require a different level of investment both financially as well as your time. A lot of times you have to pay for lodging and air fare and have more days out of the office BUT there’s something magic about going to a conference! Not only is it incredible networking but you also get to learn from the experts and speakers.
Sometimes there are conferences that are held annually and it can be a great way to connect with others in your industry, see friends, learn the latest and greatest and just take a break from your day-to-day life. I love conferences and think the real secret sauce is in networking!
Joining a mastermind
Back in 2017 I joined my first mastermind, it was a HUGE investment and at a very pivotal time in my career. I also hosted my own mastermind for one year and both experiences were life changing. The power of a mastermind isn’t just in who’s leading it, it’s who they gather in the room. It’s this collective energy of wanting to share, contribute, brainstorm, and support each other.
Again, a formal mastermind is generally a very expensive investment usually 10k – 100k or more if hosted by an expert or someone who has the know how, strategy, and connections to get you to the next level BUT you can also do a free mastermind and gather some peers and hop on zoom and work together!
Pursuing an MBA or other advanced degree
Last (but not least) you can always invest in furthering your education in a more tradition setting whether you’re pursuing an advanced degree in business, such as an MBA, or getting your degree in a specific field. These opportunities can obviously provide a more comprehensive education in business and can open up career opportunities. However, this is a significant investment in terms of time and money.
What’s Worth It?
Press play on this episode to hear my “cost it out” method and how I look at what I’d have to earn to make up for the investment and how I determine if I feel confident in making that happen because ultimately, a lot of this is reliant on YOU and your action.
Overall, it’s important to take the time to think about all of these things and make sure this investment is worth it for your business. And remember that with knowledge, you can learn something one time and reap the rewards and results of it for the rest of time, so there’s an exponential factor here to think about!