Action coach

[L.H.M]

Hi
Apologies if this is not the right forum. I wondered whether anyone has any recent experience of working with an Action Coach? I invested 6k in one starting in October, for my new IT solutions business. They promised I would double my investment by the end of February. In that time, their 'coaching' has been sporadic, inconsistent with no real structure or direction. Their consistent advice as that I needed to network 3 times per week and join BNI, which I have done (more expense). When I signed up with them I had a feeble meeting to discuss a 5 year plan, which never materialised into anything. I had a few 1-2-1s with the coach who could not have been more disinterested if they tried, and I had a 90 day planning session with them 8 weeks into the program. The session involved sitting and writing the plan, but they didn't critique it - other business associates have told me its actually not a good plan and doesn't mean anything, its just a to do list. We have never discussed finances, set budgets or proper goals to measure against. I have now had a conversation with them to stop the program but I am considering attempting to get my money back. It wasn't right for my business and the coach genuinely didn't seem to have a clue - It was obvious they were new to it.

I now have to park my business and go and 'get a job' because I didn't pay back at all.

I wondered if anyone else had any experience of Action coach - was it that they are good but not right for my business?

Going back to the 'getting a job' part - do I park the business and do this, or do I dip into my savings pot and carry on, or at least use it to pay off the mortgage for a few years?

Any advice on all points would be really welcomed

Thanks in advance

 

[Paul Norman]

Action coach is pretty much a franchise, and experiences will be entirely dependant on the individual who coached you. And the quality is, by reputation, not consistent.

As a general bit of advice, spending £6k on day one for coaching is not a good idea, as you now realise. I am sorry your first adventure into business has been like this.

 

[L.H.M]

Thanks Paul. Oops I'll just correct the bit about the 6k - this was for a 6 months program. the 90 day planning session was included. They had guaranteed doubling this return at the end of the 6 months

 

[Paul Norman]

The guaruntee is the first error they made. I have been doing business advice for many years and I know I cannot guarantee an outcome. When people start saying things like that it is an early warning.

I don't know whether that is an Action Coach thing, or just this coach.

 

[L.H.M]

Yes I totally fell for the guarantee. I think I was confident in the process as it is a national brand but now the more I am reading, it is dependant on the individual coach, there doesn't now seem to be a structured methodology that they follow.

 

[ethical PR]

When they said they could double your investment, what did they actually say they would do for you that would help generate 12K, to what timescales? Why do you feel a 'coach' will help you grow your business. I would have thought your investment should be in market research and marketing (assuming you haven't covered this already).

 

[L.H.M]

I was pretty much a start up so I hadn't done any of those things. I kind of expected the coaching to be a wrapper in directing me to the right things to do at the right times. In terms of generating the 12k, Action coach themselves offer a guarantee of a return of the 6k, but this person said I would easily double that, but signing up with them. They have a policy that they do not do it for you. I totally get that, but I had a session with a different coach, yesterday who, in two hours really scrutinised me and was able to build a proper picture of the business and where it should be heading. how I wish I'd met this coach before - of course I can't afford to sign up with them now!

 

[Mr D]

Thanks Paul. Oops I'll just correct the bit about the 6k - this was for a 6 months program. the 90 day planning session was included. They had guaranteed doubling this return at the end of the 6 months

They can guarantee contacting you. They cannot guarantee business.
There are instances where investing money into training or support will help you improve things so as to generate more business income, but not guaranteed.

It sounds like what you needed was a mentor.

 

[L.H.M]

Now you've mentioned it I think that's exactly what i needed. I just need to figure out how to recover from the financials now and whether to use my life savings or return to work and continue in my spare time.

 

[Higgsy]

Hi L.H.M

So I have used both action coach and BNI.

Both have helped me and been successful, but would completely agree with the above comments. Coaches can know absolutely nothing and start a franchise. The coach I used had a successful background in coaching and running high turnover businesses. The credibility Is a big thing for me. From my experience and from talking to the coach I use, they aren’t really for brand spanking new businesses, they strive from a business that’ is working but needs growth.

 

[JEREMY HAWKE]

Quickly looking through it all to me it is just a load of old waffle

WTF do they do
WTF donates 6K to them

 

[MBE2017]

Why not claim against their guarantee?

 

[intheTRADE]

Another example of this utterly scum industry.

All I see day in day out on LinkedIn is these business mentors, business coaches and gurus all offering amazing deals of 90 day courses, insider circles and members only areas. Absolute BS from every single one of them.

None of them have a clue at all about running businesses and being successful. Except in the business of scamming huge sums of money out of those with genuine good intentions of wanting to better their lives by running a business.

I had an email from some lad the other day offering me his Life and Business Skills course so I can get an advantage in both my personal life and my business. He was 19 years old! Scum!

I very much doubt you will, but I do hope you get your money back

 

[Higgsy]

Note: I am not an Action Coach, I've just used one..

Quickly looking through it all to me it is just a load of old waffle

WTF do they do
WTF donates 6K to them

I've more than likely spent £3k with the chap I use for one business I was struggling with (numerous reasons). From the contacts he's brought me and the advice, my turnover increased by around £50k with a good direction forward. So they aren't all bad.

Why not claim against their guarantee?

The chap I use, never offered a guarantee, in fact his words to me were: "I can guide you, but it's up to you to make it work"

Another example of this utterly scum industry.

All I see day in day out on LinkedIn is these business mentors, business coaches and gurus all offering amazing deals of 90 day courses, insider circles and members only areas. Absolute BS from every single one of them.

None of them have a clue at all about running businesses and being successful. Except in the business of scamming huge sums of money out of those with genuine good intentions of wanting to better their lives by running a business.

I had an email from some lad the other day offering me his Life and Business Skills course so I can get an advantage in both my personal life and my business. He was 19 years old! Scum!

I very much doubt you will, but I do hope you get your money back

There is scum in every industry. One service we offer is invoiced at £700 plus VAT, I constantly get asked why can so and so offer this at £200. When you research them, they don't have a clue what they're doing.

 

[Financial-Modeller]

Out of curiousity, what were you hoping to achieve, @L.H.M ?

 

[Mr D]

Another example of this utterly scum industry.

All I see day in day out on LinkedIn is these business mentors, business coaches and gurus all offering amazing deals of 90 day courses, insider circles and members only areas. Absolute BS from every single one of them.

None of them have a clue at all about running businesses and being successful. Except in the business of scamming huge sums of money out of those with genuine good intentions of wanting to better their lives by running a business.

I had an email from some lad the other day offering me his Life and Business Skills course so I can get an advantage in both my personal life and my business. He was 19 years old! Scum!

I very much doubt you will, but I do hope you get your money back

Reputation matters.

If Baroness Brady talks about engaging with customers for example - I'd pay to listen. Because I know what she did herself.
But unknown person - they'd have to prove they are worth paying money to. There are a few people I've met over the years who I would pay money for help from. But only a few.

 

[Ludolf van der Merwe]

A function that I have found quite a few people use and offer in my country that works well in my opinion. A consultant offers their time for free, so basically they sign an NDA and you sign an SLA with them. And you basically just give them access to your system, reports, people and meetings and let them do their thing. If and when they can see opportunities for you to either increase your turnover by n greater rate than you expenses or reduce your expenses by a greater rate than you turnover. So basically anything that can increase your PBT they then take a % of that increase. So the company can never lose anything and the consultant only loses his time if nothing comes of it.

 

[MBE2017]

Action coach themselves offer a guarantee of a return of the 6k, but this person said I would easily double that, but signing up with them.

According to you they offered a guarantee, but the chap you used did not. Who did you use in the end? I’m getting confused, either Action Coach offer a guarantee or they do not. Or did you not use them at all? I looked on ActionCoach website and see no guarantee personally.

 

[JEREMY HAWKE]

Note: I am not an Action Coach, I've just used one..



I've more than likely spent £3k with the chap I use for one business I was struggling with (numerous reasons). From the contacts he's brought me and the advice, my turnover increased by around £50k with a good direction forward. So they aren't all bad.



The chap I use, never offered a guarantee, in fact his words to me were: "I can guide you, but it's up to you to make it work"



There is scum in every industry. One service we offer is invoiced at £700 plus VAT, I constantly get asked why can so and so offer this at £200. When you research them, they don't have a clue what they're doing.

The problem I have with you is that I have nothing to go on to confirm about your operation

Those that are open about our businesses make it a easier to judge if our claims are credible

 

[Stas Lawicki]

It's a shame you had such a bad experience. @intheTRADE won't like what I am contributing as I provide business coaching and therefore am, scum... But, there are couple of points here that can be useful to others:

Don't sign up or commit to months on end. Have a rolling contract and have reviews at suitable periods. Sack them if they are not coming through with what you want.

Before you even get to contract stage, ask them to spell out what they are actually going to do - the deliverables - in an FP.

Understand what it is you are paying them for. Some coaches will throw charts and spreadsheets at you and wish you luck. Others little more than a phone call or Skype (not a fan of Skype in most instances). What it is the outcome you are seeking or the problem you are trying to overcome? How are they helping you achieve this goal or aim?

The problem is that you've paid them already. If you weren't happy, you should have held off until you resolved the issue (what did the contract say in this regard?). I'm not sure what material things they have provided but that might be something to go back to them with and ask. And ask you should - worst they can say is no.

Otherwise move on. Running a business is full of hurdles like this. In previous ones I've overspent, had dodgy partners, had appalling tax and accounting advice, sued and tried to be sued, had great clients, had terrible ones... It's all part of the game.

Get back into it ASAP. Take it on the chin and learn from it.

Good luck

 

[Eldy70]

I don't have any experience of Action Coach. However, when I started out (about 10 years ago), I paid a few grand on business coaching - and it was bloody awful. I was assigned a hectoring woman who really had no idea at all about my business or how to run it.

My advice - for what it's worth - is that starting out in business, or hitting milestones in business, can of course be really daunting. But there's a very good chance that you're resourceful enough to figure things out on your own... or get them for free via networking and forums like this.

Hope it works out.

 

[Eldy70]

Incidentally, I agree with Stas's comment about taking it on the chin. One of the downsides of business, I've found, is that I've had to become fairly sanguine about things that just don't work out.

When I started out and I got a bill for, say, £500, I'd think: "Oh My God! How much?!!!"

Now I get a bill for a few grand and think: "Oh well, could have been worse..."