As coaches, we challenge the notion that success requires a hefty investment, aiming to empower entrepreneurs to make purpose-driven decisions in their business growth journey.

In this episode of Purposeful Podcasting, hosts Krystal Eicher and Wendy Guth delve into the crucial topic of investing in coaching and masterminds for business growth. They challenge the notion that success in entrepreneurship requires a hefty financial investment and emphasize the importance of a purpose-driven approach to self-investment. The hosts draw from their own experiences as coaches, highlighting the need for individualized approaches and cautioning against the fear tactics often associated with these investments. They stress the significance of aligning investments with one's purpose and motivations, rather than blindly following prescribed dollar amounts.

Throughout the episode, they encourage listeners to trust their instincts when making investment decisions. The conversation offers valuable insights into the role of coaching and investment in online business success, emphasizing tailored strategies, self-reflection, and the importance of trusting one's instincts. As an entrepreneur or business owner seeking growth, tuning in to this episode will provide you with actionable strategies and a fresh perspective on navigating the world of coaching and masterminds, ultimately helping you make informed and purpose-driven investment decisions.

In this episode, you will be able to:

• Unlock business potential with targeted coaching and masterminds.

• Personalize your investment approach for maximum returns.

• Tailored strategies are key to investment success.

• Master the art of trusting your instincts in investments.

• Amplify online business success through strategic coaching.

Practical Strategies Over Magic Bullets

While it's exciting to imagine that there's a magical solution that will fast-track your success, reality tends to differ. In fact, fundamental, practical strategies usually outlast shiny, magical promises. Taking the time to dissect what you’re currently doing, asking the right questions, and aligning your actions with your targets and aspirations usually holds more potential for sustained success. Echoing these thoughts, Krystal Eicher discusses how the role of a good coach isn't about offering miraculous instant success but dissecting the individual’s current actions and asking significant questions. She emphasizes that sometimes, the greatest success that coaching can bring is safeguarding individuals against poor investments in ventures that may not serve them in the long term.

Accountability and Follow-Through

Investing in coaching or other various resources is not the end game, but just the beginning. The real work begins when you take action on what you've learned or the insights you've gained. Being accountable for your actions and decisions and following through on your commitments can be pivotal on your entrepreneurial journey, regardless of how much you've invested. Krystal Eicher resonates with this philosophy strongly. She recognizes that there are instances when people fail to follow through due to several reasons; however, she insists on the importance of taking responsibility. Blaming the investment or any external factor doesn't help. The key, according to Eicher, is to be accountable for one's actions and decisions.

Making informed and purpose-driven investment decisions

Entrepreneurship is a journey, and every entrepreneur has a unique path to navigate. When it comes to investing resources, such as time, money, and energy, it is imperative to make choices that are informed and purpose-driven. Blindly sticking to a predefined number or hastily jumping on every opportunity, can be draining and may not necessarily yield the desired results. It's okay not to splash out large sums on resources if your current circumstances don't allow it. In the podcast, Krystal Eicher strongly criticizes the assertion that not being ready to invest a minimum of $100,000 annually in resources means one should quit their side hustle. She emphasizes that each entrepreneur is at a different stage with unique resources at their disposal. A blanket formula for success, she insists, tends to box people in, ignoring the fact that different pathways and levels exist in the entrepreneurial journey. She encourages listeners to invest in ways that resonate with their purpose and what drives them.

Success in Online Business

The world of online business is filled with different strategies and tactics, and success isn’t guaranteed to come from all of them. You’ve got to root out what works for your business model, your market, and your unique needs. It’s more than just having a killer offer or investing big bucks in coaching and resources; it also requires understanding your limitations and outlining clear, business-savvy strategies. Wendy and Krystal assert that if making six figures overnight was as simple as following a foolproof formula, they would be significantly more victorious and charging exorbitant fees for their services. Instead, they propose an individualized approach that involves understanding one's circumstances, such as bandwidth and existing hurdles, and generating actionable strategies tailored to your specific circumstances.

Purposeful Investment in Coaching

Investing in coaching can offer priceless guidance and insights, but it's significant to ensure the coaches you choose and the amount you invest align with your purpose. Investing in self-growth and development is indeed a non-negotiable in the journey of entrepreneurship, but it's also about striking the right balance. Over-investing could potentially lead you into financial difficulty, and under-investing might limit your growth prospects. Krystal Eicher sets a brilliant example by explaining her own stance as a coach. While she charges for her services, she maintains that she would never advise someone to step into financial trouble to afford her coaching. She also uses her own experiences to drive home the importance of smart investing. Wendy has had her share of futile investments but also emphasizes the invaluable lessons she learned from working with extraordinary coaches.

Timestamped summary of this episode:
00:00:00 - Shady Business Practices
Wendy and Crystal discuss the prevalence of shady business practices in the online space and emphasize the importance of not falling for fear and scarcity tactics when it comes to investing in coaching and masterminds.

00:01:53 - Investing in Yourself
The hosts address the misconceptions around the idea of investing in oneself and highlight the importance of considering individual financial resources, energy, and purpose when making investment decisions for business growth.

00:06:50 - No One-Size-Fits-All
Wendy and Crystal emphasize that there is no one-size-fits-all approach to entrepreneurship and business growth. They discuss the need for mentors at different levels and caution against the idea that a specific financial investment is a guarantee of success.

00:10:09 - Accountability and Follow-Through
The hosts talk about the importance of accountability and follow-through when investing in coaching programs and other resources. They share personal experiences of investing in programs and the impact of not fully committing to the process.

00:16:53 - Prevalence of Shady Business Practices
Wendy and Crystal acknowledge the prevalence of shady business practices not only in the online space but historically. They encourage listeners to be discerning and cautious when approached with high-pressure investment tactics.

00:17:37 - Success in Online Business
Krystal discusses the misconception that bankrupting oneself is necessary for success in online business. She emphasizes that success is not solely dependent on a coach or mastermind and can be hindered by other factors like offer and bandwidth.

00:18:21 - Practical Strategies Over Magic Bullets
Krystal highlights that there is no magic bullet for instant success in business. Instead, she emphasizes the importance of actionable strategies tailored to individual circumstances, addressing current obstacles, and providing valuable insights.

00:19:22 - Purposeful Investment in Coaching
Krystal emphasizes the role of good coaching in guiding individuals to evaluate their business choices, make informed decisions, and steer clear of unproductive investments. She underscores the significance of investing in one's purpose.

00:20:17 - Gut Feelings and Purposeful Investments
Krystal emphasizes the importance of aligning investments with one's purpose, highlighting that investments should not feel "yucky." Trusting one's instincts and making purposeful investments is key to success.

00:21:48 - Wrapping Up and Looking Ahead
Krystal encourages listeners to stay connected through their newsletter and social media, teasing upcoming workshops and exciting content. She expresses anticipation for the return of the podcast in a few weeks.