Want to make money in property? You are only as good as your coach
Many people do not actually understand what a coach is and what the benefits are that come from having one. Most, if not all people need to be held accountable and having a coach that pushes you and always checks on you is helping in order to get things done properly. Not only does a coach help you come up with great business ideas but they guide you through ways to become successful and teach you the do’s and don’ts of business. They also share valuable tips and tricks with you on how they became successful, what they did and how they managed to do it. Which is exactly what Melissa and Johanna Stone are now doing for people.
Studies have shown that people with a business coach have managed to increase sales by at least 40%. You get some people have increased sales by 100% from having a coach. Business coaching is the process of helping a company or business team achieve greater clarity, focus, and results. Regardless of the size of your company, whether you are a solo entrepreneur or a large corporation, business coaching is aimed at improving the performance of your people and increasing the company’s bottom line.
According to the ICF Global Coaching Client Study, “Several focus group participants indicated that, prior to experiencing it themselves, they had negative perceptions of coaching and the people who use it. The common thought of coaching is it’s for people who can’t “do it on their own” rather than a tool that can help people excel and teach people new skills.
A few people in the focus groups held some negative views on coaching prior to getting coaching themselves, these negative views were trashed once the coaching process started and those people all ended up viewing the process positively.”
2130 clients surveyed by the ICF, over 70% reported improvements in the following 5 areas:
Self-esteem / self-confidence (80%)
Communication skills (72%)
Interpersonal skills (71%)
Work performance (70%)
Other areas of improvement were:
Work / life balance
The difference between small business coaching and business coaching for larger companies is in scale and complexity. The main reason for getting coaching is for financial reasons. The biggest difference is that small business owners rely on their business coaches for professional business knowledge in addition to the coaching. Small business owners don’t always have a big budget and employees with specialized skill sets, if a small business coach can also offer expert knowledge, they can get more benefit from a single relationship. For example, a small business owner could hire a coach who is an expert in social media marketing, that will help that business owner with marketing and learning about the benefits of social media and what it can do for a business.
Good coach vs bad coach
There are a lot of people out there that are phony coaches and that is why a lot of entrepreneurs are too scared to get into coaching because they don’t want to be scammed out of their money or get stuck investing in a coach just to get completely let down. Bad coaches always underperform and most of the time they lie about their experience in coaching. A bad coach will most often be too fixated on taking your money from you and now on what is most important and that is your business. You need a coach that cares and will be honest and give you the correct advice. People do not know how to pick the right coach and what to look out for. So how do we differentiate between the two?
Here are 12 tips to get you started and help chose the correct coach.
- Their knowledge.Small business coaching and consulting are skills, and it takes a lot of education and practice to master them. Coaches with experience who have made themselves successful and are experienced in creating an empire or the best people to pick.
- Determine the size of your business and select a coach accordingly.Some larger business coaches specialize in coaching business executives with more than 100 employees, while others specialize in coaching small, self-employed business owners and solo entrepreneurs.
- Choose a consultant who has business and coaching skills.Coaching is all about getting unstuck, taking action, living to your potential, and managing your time. Whereas Consulting is about brainstorming and getting advice so you can create a solid business and marketing model, and implement a powerful action plan. As a small business owner, you know how important marketing is, it’s all about marketing and branding yourself.
- Continuous learning:Even coaches can continue to learn, whether its new innovative coaching ideas or just how to be better in business. A coach who isn’t afraid to learn things ad grow with the time is not a coach you want to invest in.
- Testimonials:Are other clients similar to you? It’s important to know if the coach has much experience working with business owners like you and the industry you are in.
- Expert status:Find out if the coach speaks, writes and teaches on business topics and if they are a known expert in their field.
- Additional offerings:In addition to coaching, does the coach offer other products like coaching programs or classes?
- Free initial consultation:Does the coach offer a free initial consultation, so that you can get to know one another and see if there is a good fit between what you need and what your coach can offer?
- Must be a Good fit:It is crucial to get along with your coach and trust them, after all, they are going to be up close and personal with you. Personality clashes are detrimental in business and you cannot afford to have one with your coach.
- Who you’ll work with:Making sure you will be working directly with one of the main coaches or consultants in the business. Sometimes you can get stuck being pawned off to someone with less experience and that can be very detrimental to your success level.
- Availability:Is the coach available to work with you. Is the coach available via email between scheduled sessions? Being able to have contact with your coach is important, but still remembering that even though they are your coach, they also have their own life and won’t be able to answer your calls at 11pm on a Saturday night.
- Fees and programs:It is important to know upfront what the coach charges and if you will be able to afford that, this will save a lot of time down the line of confusion.
Melissa and Johanna Stone are not only sisters but they are business partners and a fiery team. Whilst they grew up with the traditional expectation of a day job, they have changed their destiny by transitioning into entrepreneurs. They are property investors, results strategists, speakers and coaches. Their story reveals that they are where they are today not by accident but rather by planning, dedication, and taking regular and consistent action. They have built a significant UK property portfolio and created strategic investment partnerships. Melissa and Joanna are Managing Partners of both their family property renovation business, Stone Properties, and Stone Equity Partners, an investment services business for active and passive investors both UK and worldwide. A big passion of theirs is helping to be a part of enhancing the communities where they invest, through buying, renovating, and then renting or selling Family Homes, Houses of Multiple Occupation and Commercial Properties.
Benefits of property investing
You are the boss of income property
When you decide to invest in an income property, you become your own boss. You choose what type of property you want to invest in and what tenant you will put in, how much you will charge for rent and how you will manage and maintain the property
In the average 9 to 5 day job, you are technically owned by your boss and the company infrastructure in general, and example of this is adhering to a dress code or having to be there on time etc. But as your own boss, you can wake up at 10 a.m. and wear whatever tickles your fancy for that day.
Potential Appreciation of a Highly Leveraged Asset
Leverage, in layman’s terms, means you invest a small amount of your own money, and borrow the rest, often around 4 to 15 times more. If you purchase a property using much more debt than equity, the investment is said to be “highly leveraged.”
Here is an example of how leveraging an asset can increase your potential return:
If you have $20,000 to invest in a property, you can then use leverage and borrow $130,000 from a bank. By combining your money with the bank loaned money, you are now able to buy a $150,000 asset. So, each year, for 10 years, your investment property will appreciate by 5%.
Here is where the ability to leverage benefits you. The appreciation is now on the entire $150,000 asset, not only the $20,000 of your own money.
Going back to those 12 tips on choosing the right coach, Melissa and Johanna tick every single one of those boxes when it comes to coaching. Who better to get coached by than a team of powerful woman who have already accomplishes their success.
Both Melissa and Joanna are Result Strategists. They are certified Coaches, and devote themselves to helping others in life and business. Melissa and Joanna are efficient and effective at helping people to overcome blocks, see massive changes, become more in all areas of their lives and holding them accountable to achieve the results of which they’ve always dreamed. They enjoy facilitating and inspiring others to release their own gifts and talents, giving them powerful tools for their own success, happiness and ultimately freedom. This brings them great joy, energy and satisfaction. They are also international speakers and have shared their knowledge and experience with audiences from all over the world of varying sizes from intimate groups to as large as 1500 people. They have shared the stage with successful serial global entrepreneur and the world’s number 1 wealth coach, JT Foxx. The sisters are also available as MC’s for events. From keynotes to workshops to hosting your event, they can come to your company, group or organization. They speak on a range of topics, they also offer one-on-one sessions to clarify your visions and goals and what you need to do to achieve them. The Stone sisters firmly believe that together they can create a strategy and a detailed action plan for how to get you there. Melissa and Johanna Stone are extremely talented woman who have proven to themselves and the world that they are absolute beasts in business. There really is no better team to let guide you through becoming successful. Trusting someone with your business can be hard but these powerful women will be there every step of the way for you and your business.
Their story reveals that they are where they are today not by accident but rather by planning, dedication, and taking regular and consistent action. Their core values are love and contribution and they are driven by a both higher purpose and a big vision for the world. The Stones sister have started coaching and teaching other entrepreneurs how to become the best possible version of yourself and dominate in business.
Taking you back to those 12 tips on getting started and choosing the right coach, Melissa and Johanna tick every single one of those boxes when it comes to coaching. They are the epitome of what a good coach is. Who better to get coached by than a team of powerful woman who have already accomplished so much success.