7 Signs Your Business Coach is a Fraud
I’ve been thinking it for a while now, but I’m going to come out and say it: I’m pretty sure the Pyramid Schemes of the past are in fact alive and well, masquerading as various ‘coaching’ programs.
Before you stop me and tell me “but pyramid schemes are illegal”, I would just like to point out that illegal things are happening all around us, all the time, and just because they haven’t been caught and prosecuted yet, it doesn’t mean it’s not happening.
And for that matter, even if it is technically ‘legal’, that doesn’t mean it’s ethical.
You might be wondering why I am so angry about this that I have chosen to write about it here.
It’s because I got scammed.
My coach scammed me out of £1,200, and then disappeared in to thin air
That’s right. When I was trying to start an eCommerce business, I paid over £1,200 to a coach for a 3 month coaching course which promised me I would be making ‘six figures’ with a brand new online business in the next 3 months.
Well it’s safe to say that didn’t happen.
Aside from the fact that the course content was completely generic and not tailored to me at all (I later learned that all of these coaches use almost the exact same content as each other), the woman and her website vanished into thin air before I had even managed to finish the course. I was left out of pocket, and feeling very embarrassed. I basically fell for a get rich quick scheme. I didn’t get rich though.
So how did I get sucked in? It all started with a Facebook ad. And then more ads. I was suddenly served with hundreds of similar ads from coaches telling me that I deserved more from life, that my 9–5 job wasn’t good enough, and even that I could manifest money.
I believed it.
This was a few years ago now, but I started thinking about it again when yet another one of these Instagram coaches was outed as a fraud.
Beware the bulls*!t business coach
Both Facebook and Instagram are hotbeds for ‘life’ and ‘business’ coaches. If you search on Instagram for #lifecoach you will find over 9 million posts to scroll though. It seems that over the last few years this ‘coaching’ industry has been booming, and because the coaching industry is still unregulated, it turns out that anyone can just decide they are a coach, and start selling their services.
And yes, I’m fully aware that there are qualified coaches who offer tremendous value to their clients, but the coaches I’m talking about here are unqualified, and have nothing to offer but an impressive staged Instagram feed.
In fact, there are so many of these insta-coaches, that you might be wondering who they are all coaching? Well… it looks like quite a lot of them are coaching each other.
All these coaches seem to have their own coaches, and guess what? They can coach you to be a coach too, so that you too can coach people to be coaches.
I’m getting dizzy.
Demand for business coaches is higher than ever, as more and more people start businesses each year. So how can you be sure the coach you choose is the read deal and not a fraud or scammer?
Here’s a few things to look out for…
7 warning signs that your business coach may be a fraud
- They have no real qualifications. If you are paying good money for a business coach, they should at least have basic coaching qualifications. This will ensure their practices are ethical, they are passionate and dedicated to being a coach, and that they can coach you in the best way.
- They have no experience in your field of business. Are they a ‘one size fits all’ coach who will teach you to be wildly successful online in nothing specific? If they are then they probably aren’t going to be able to give you anything that will change your life or business.
- They mostly coach other coaches. When they realise that not as many people are rushing to book their services as they’d once hoped, they suddenly switch to ‘helping’ other failed coaches. A coach that coaches coaches. Yeah. They’re everywhere.
- They use high pressure sales tactics to get you to buy their products and services. Countdown timers. “Get on my waiting list”, “This is going to sell out in minutes”; they want you to have FOMO and buy their courses without taking the time to think about whether you really need it or not.
- All of their testimonials are from other coaches. When you haven’t had any clients worth shouting about, it’s very easy for a coach to get someone (usually another coach) to give them a testimonial in return for a one hour coaching session.
- They’re selling you a dream. Have a look at their social media accounts, are all their posts polished, giving the illusion of a perfect life? Are they telling you how much they earn, and that you too can have a six-or seven-figure life just like theirs if you follow their formula?
- They constantly up-sell to you. They will hook you in with a low priced program, course or webinar, and then constantly sell, sell, sell, until you reach their exclusive top tier program. And after that there will be something else for you to buy.
If you spot any of these warning signs, then your business coach might not be all that they seem.
How to find a business coach that’s right for your business
- Consider whether or not you really need a coach. You might need a business book. Or a good business network with people who can support, mentor, and cheer you on.
- Choose someone who specialises in the field you work in. Someone who has already done exactly what you want to do will be best placed to help you.
- Make sure its you that seeks them out, not the other way around. All too often fraud business coaches find their victims by using Instagram and Facebook ads.
- Check their testimonials and make sure they’re legit. Not just gushing accolades from their coach mates.
To sum it up
The coaching industry is unregulated, and there’s loads of scammers out there waiting to take advantage of you. It’s not all bad though, there are also loads of great business membership groups out there that offer coaching, as well as qualified private coaches offering 1–2–1 coaching. Just make sure you take the time to find the right one for you and your business. Good luck!
Have you had a bad experience with a business coach? Let me know in the comments.