You may have heard that private coaching is expensive and only for top-performing advisors. Or that it’s a waste of time if you’re not already successful. And while private coaching can certainly be expensive, it’s not exclusively for top performers. Private coaching can be an invaluable tool for financial advisors at any stage in their careers.

Unfortunately, there are a lot of myths out there about private coaching. So today, we’re busting 5 of the most common myths about private coaching for financial advisors.

Myth #1: Private Coaching is Only for Top Performers

This simply isn’t true. While private coaching can help top performers take their business to the next level, it’s also a great way for newer advisors to get started on the right foot. A good coach will help you develop systems and processes that will save you time and energy down the road. They’ll also hold you accountable to your goals and help you troubleshoot any problems you encounter along the way. In other words, a good coach is worth their weight in gold, no matter what level you’re at in your career.

Myth #2: Private Coaching is Too Expensive

While it’s true that private coaching can be expensive, it’s important to remember that you get what you pay for. A good coach will more than pay for themselves by helping you close more business and work fewer hours. Not to mention, the peace of mind that comes from having someone in your corner who knows the ropes and can help you navigate difficult situations is priceless. 

Myth #3: I Can Just Read a Book Instead

Sure, you could read a book on sales or marketing or time management. But books are generalizations—private coaching is specific to your business and your needs. A good coach will take the time to get to know you, your business, and your goals so they can tailor their advice specifically to you. They’ll also be there to answer your questions and help you troubleshoot problems as they come up. In other words, a book can’t hold a candle to the value of having a real live human being in your corner. 

Myth #4: I Don’t Have Time for Private Coaching

This one might seem counterintuitive but bear with us. Yes, private coaching does take time—but it also saves you time in the long run by helping you avoid costly mistakes and develop systems that save you time and energy down the road. Not to mention, a good coach will help you prioritize your time so you can make the most of every minute of your day. In other words, if you want to make better use of your time, private coaching is worth considering. 

Myth #5: I’m Not Ready for Private Coaching 

This one is probably the most common myth of all—and it’s also the most dangerous. The truth is, there’s never a “perfect” time to start working with a coach. If you wait until everything in your business is perfect, chances are you’ll never start working with a coach because (let’s face it) perfection is impossible to achieve! The bottom line is this: if you’re even considering working with a coach, that means you’re ready—so go ahead and take the plunge! 

Private coaching can be an invaluable tool for financial advisors at any stage in their career—but there are a lot of myths out there about private coaching. In this blog post, we busted 5 of the most common myths about private coaching for financial advisors. If you’re considering working with a coach, don’t let these myths stop you! A good coach will more than pay for themselves by helping you close more business and work fewer hours.