Individual vs. Group Financial Coaching – Which Is Best For You?

Learn the Strengths and Weaknesses of Each Coaching Format So That You Can Select the Right Fit for Your Needs…

Financial coaching comes in all shapes and colors because one size does not fit all. However, all the variety can make it difficult to select the right program…

  • Which vendor should you trust?
  • What curriculum will provide the correct solution for your situation?
  • Should you choose group coaching or individual financial coaching? Why?

Below I explain the benefits and limitations of both group coaching and individual coaching so that you can make a well educated decision about which format best fits your needs. The key point is that neither arrangement is superior to the other: they are just different. You must understand those differences so that you can choose the right program for your particular situation…

Individual Financial Coaching – Explained

The distinguishing characteristic of individual coaching is the success of the process is determined by the strength of the relationship between the money coach and the client.

You get personalized, in depth training that is customized to fit your personal needs. You won’t be distracted by other people’s issues or follow a pre-formatted curriculum of education that has only marginal relevance to your concerns. Instead, everything is specific to your situation with no extra fat or fluff. Individual coaching provides you with a personal guide on the path to financial freedom who delivers what you want, when you want it and how you want it.

You know if you are the ideal client for one-on-one financial coaching when your life situation fits one of the following three criteria…

“Even though I have 21 years more experience in the investment business, I don’t know anyone with more wisdom than Todd. His perspective and talents shifted my whole investment company and helped me multiply monthly cash flow ten times from $5,000 per month to $50,000 per month. If I were to hire anyone to run my business, Todd would be the first on my list.”– Gary Craig, Entrepreneur and Former Hedge Fund Manager; The Sea Ranch, CA

  1. Business Owner or Active Investor: You are launching a business, already have a business you want to take to the next level, or are an active investor approaching or exceeding a six figure portfolio. If you fit any of these conditions then you are already in the game, have significant capital at risk, and personal financial coaching can put more money in your pocket than it costs. Just one mistake avoided or one decision improved can pay for years of money coaching services with all the other benefits thrown in for free.
  2. More Wealth Than Financial Intelligence: There is nothing more dangerous than $10,000 of investment decisions made with $100 of financial intelligence. Successful entrepreneurs, high earning professionals, and people receiving inheritances find themselves with more money than financial skill to manage it – and little time to develop those financial skills. Their financial success means investment mistakes will be prohibitively expensive. They need expert financial education and support that isn’t biased by investment product sales incentives so they can learn how to manage risk and avoid obvious mistakes.
  3. Great Education – No Results: If you’ve already attended seminars, taken home study courses, developed great ideas, but got stuck following through and implementing then your problem is not information – but the integration and implementation of that information. No book, seminar or course will get you over the hump to produce results: only a highly skilled financial coach can help you integrate your knowledge into a personal wealth plan and overcome the obstacles that are holding you back from success.

Notice how the common theme to each situation above is the value proposition makes business sense. One-on-one financial coaching may cost more than group coaching, but in the right situation it can be a revenue producer instead of an expense.

Below are some of the benefits specifically resulting from the individualized attention of personal financial coaching that you won’t experience in a group coaching format…

  • Your coach gets to know your individual needs, quirks, and patterns affording greater opportunity for breakthrough results.
  • You don’t have to know the specific obstacles holding you back from greater success because they will be identified during the coaching relationship. The process dynamically responds to your needs
  • You save time getting to your desired result because all information is custom tailored to your needs – nothing extra or wasted.
  • Greater flexibility in arranging appointments to fit your busy schedule.
  • Greater connection and bond with your coach creating a collaborative partner in your wealth plan and accountability partner to accelerate results.
  • Total privacy so that all financial matters can be disclosed within the trust established by the coaching relationship without concern for anyone else hearing.
  • No pre-established curriculum so you can move as fast or as slow as you want. You control the pace and you don’t have to waste time learning anything irrelevant to your personal situation.
  • Provides a deeper relationship with the coach which is necessary for process coaching so that you can reliably break through entrenched personal obstacles that are holding you back from financial success.

If you are serious about attaining financial freedom and fit one of the three client profiles listed above then individual financial coaching offers many advantages not available to group coaching clients. If you want to move fast and can afford the service there is no better choice. You can learn how to get started here

Group Financial Coaching – Explained

Group financial coaching offers a less personal, less expensive alternative to one-on-one financial coaching.

The defining characteristic of group coaching is that it’s designed around a specific curriculum that solves a specific problem in the wealth building process. For that reason it is critical you choose a curriculum that addresses the specific problem holding you back from success. You won’t have the benefit of an experienced coach identifying your problems for you and providing customized solutions: you must do all that yourself by selecting the correct group financial coaching curriculum.

“I only coached with Todd for a few months four years ago and I am still benefiting from the experience as I complete my fourth positive cash flow real estate deal. I am well on my way to achieving my financial goals because of the focus and clarity that resulted from those coaching sessions years ago.”– Sally Trussell, EdD; Independent Investor; Littleton, MA

The ideal target client for group financial coaching includes the following…

  • People who are serious about wealth building and want increased accountability and support for the process, but they can’t justify the higher cost of one-on-one coaching yet.
  • People who want to increase their commitment to building wealth but don’t want the intensity and laser focus provided by individual financial coaching.
  • People who can accurately assess the problems holding them back from greater financial success and can identify the correct curriculum providing the solution. For example, I’ve arranged my group coaching into Seven Steps To Seven Figures so that you can specifically opt-in to whatever step is coincident with where you are at in the wealth building process. The entire path to financial freedom from start to finish is segmented into seven distinct but connected steps. You choose your starting point based on your needs.

Don’t be deceived into believing group coaching is the poor man’s alternative to individualized money coaching programs. True, it is less expensive, but it also offers many benefits you can’t get with individual financial coaching…

  • Members learn from each other creating camaraderie and support as they all work toward a shared goal. Group dynamics can provide a powerful force increasing motivation and follow through.
  • Group coaching offers a shared experience where you not only encounter how the coaching impacts you but also how it impacts other group members. You realize the problems you face are not as unique as previously believed thus reducing your sense of isolation common among lone-rangers while also providing greater confidence to move forward.
  • Less pressured environment where you can listen and learn from others in the background until you choose to participate. This allows you to grow at whatever pace is comfortable.
  • The group can provide an extended support network of like-minded individuals. Members often team up off-line to reinforce the lessons provided by the coach on-line.
  • Group money coaching can provide a low-cost, low-risk way to gain first-hand experience and learn from the coach. If you thrive on his teachings you can always upgrade to more personalized attention later.
  • Group coaching can offer a better value than individual money coaching when your primary objective is to solve a specific problem or learn a specific process covered in that group coaching curriculum.

“You saved me from thousands of dollars in mistakes. You hone right in on the important issues. With your support I am gaining the skills and confidence I need to trust myself and make decisions.”– Greg Howe; President, Here’s Howe Consulting; San Francisco, CA

The key point to takeaway is how group coaching offers a different experience – not better or worse – just different. It is less personalized and more driven by curriculum and group dynamics. The support by the group is contrasted with the individualized focused attention of a personal money coach.

Stated another way, you can experience breakthrough results with individual financial coaching even when you have no idea what is holding you back, but group financial coaching requires you to know what roadblocks are stopping your progress because the pre-specified curriculum must provide the correct solution. There is no flexibility with group coaching: you either select the correct curriculum or you won’t get the results desired. Individual coaching doesn’t have that limitation: it is more dynamic.

Studies have shown both to be effective learning tools depending on the situation. Each model serves a different target market with different needs.

In summary, the choice between individual financial coaching vs. group financial coaching is a personal decision. Each has its own strengths and weaknesses. The key point is to move forward by choosing the approach that best fits your needs.

Getting started now is more important than making a “perfect” decision because either choice will produce results whereas procrastination will produce nothing.

Remember, you are never stuck with your decision between individual vs. group coaching and can always switch horses later; however, you can never recover the time lost by not getting started moving toward your goals today.

You can learn more about my individual financial coaching and group financial coaching services by clicking on those links.

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