The REAL Reason Financial Coaching Is Dying

So, you're a financial coach (or you're thinking about becoming one) and you have a heart for helping people who are broke, living paycheck to paycheck, can't pay all their bills and are headed for a financial disaster.

Well, that's great and likely a HUGE part of why you even signed up to become a coach in the first place.

BUT, if you've been coaching for even about 5 minutes you're probably already frustrated because you've been doing "all the things" your financial coach training program taught you, you're:

"Networking like a champ."

"Getting the word out."

"Talking to everyone and their grandma about what you do as a coach."

Maybe you're even paying for leads, creating regular content, building an email list, offering free help in FB groups... You know, "all the things".

But what if, after all the time, money and energy you've spend to become a financial coach, I told you that you've unwittingly chosen a market that will NEVER be able to pay you what you're actually worth? And more importantly, what would I tell you that you should do instead?

But before we get to that, how do I know your market will NEVER pay you what you're worth?

Two ways:

1. I personally lived your nightmare for my first 3.5 years of my financial coaching business, and...
2. Your market doesn't pass this one single absolutely fundamental market criteria that I never even knew existed until very recently... It doesn't have PWMs.

What's a PWM? PWM stands for "Players With Money" and is one of the 5 Market Must-Haves outlined in Ryan Levesque's book “Choose. - The Single Most Important Decision Before Starting Your Business”.

The 5 Market Must-Haves are:

1. Evergreen Market
2. Enthusiast Market
3. $10,000 Problem
4. Future Problem
5. Players With Money (PWMs)
6. I cover these 5 in much greater depth in this video.

By the way, Dave Ramsey's team is never going to tell you this stuff...

Now, you're probably WAY smarter than I am, so you've probably already figured out that someone who is: broke, living paycheck to paycheck, can't pay all their bills and is headed for a financial disaster is NEVER going to either 1) be able to afford you as a coach or 2) even be willing to part with their money even if they could.

Why?

Well first of all, fundamentally they're not PWMs, so they're just not going to be able to financially engage with you.

Secondly, in my 3.5 years of experience of coaching this particular market segment, they largely (with some exceptions) do not possess the required growth mindset and because of that can't make the "jump" in their minds to paying someone to help them 1) save money and 2) get out of debt.

Sadly, in my experience the people who need our help the absolute most are usually either not able or not willing to pay for our expert structural-engineering-level skill set to help them break out of the twisted financial cage they've constructed for themselves.

So now let's talk about how, if you're here, what should you do about it? Two things:

1. Don't don't give up on the personal finance niche, necessarily.
2. I would suggest "niching up" to something like:
3. Talking about investing
4. Talking about Financial Independence
5. Talking about personal development.

These are 3 "sub-niches" within the personal finance space that have PWMs (as well as all of the other 4 market attributes).

2. Download this FREE quick start guide (link in the description) that walks you through how to start and grow an online business and watch this video here where I show you exactly how to do it.

I'm over here waiting for you in this video right here.