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Business coach - possibly a spoofer

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  • 28-02-2022 1:14pm
    #1
    Deeec
    Registered Users Posts: 5,041 ✭✭✭


    I do the bookkeeping for a business owned by friend of mine cheaply as a favour. The business only has 5 staff and is a factory which makes bespoke furniture. Last August they were contacted by a freelance business coach offering their services. They decided to engage them to offer advice on how to improve the business even though the business isnt doing too badly.

    This 'business coach' costs €1800 + vat per month. The coaching involves a 1 hr call per week via zoom - some weeks he even appears to miss this. This coach guy has never visited the premises, talked to any of the staff or has never made any contact with myself. He hasnt looked at accounts or how the factory operates. I looked up this guy and his background is marketing and ran his own exercise classes - no business qualifications whatsoever. It seems anyone can buy into this business coaching franchise, operate under their name and charge a large fee.

    So far this guy has been paid over €12,600 for doing what seems like nothing. It is a big whack off the business's profits. I just want to see if anyone else here has used the services of a business coach and what did you get as part of the service?



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    #2
    Gloomtastic!
    Registered Users Posts: 8,477 ✭✭✭Gloomtastic!


    Has your friend talked about this guy? It’s their business and if they feel they are getting benefit from whatever this guy is offering, then so be it.

    However, if you are offering your services cheaply because you think they can’t afford it, then maybe you should talk to them about that.

    (Remembering 20 years ago when I used to charge businesses £1000 per day for my advice. I was able to charge that because I could guarantee that whatever they’d pay me, they’d make 3 times that in bottom line savings for their business). 😋



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    #3
    Deeec
    Registered Users Posts: 5,041 ✭✭✭Deeec


    https://www.boards.ie/discussion/comment/118708289#Comment_118708289

    No I dont mind at all doing the work for him to help out - its not that much work in fairness. Thats not the issue.

    I just feel this guy may be taking advantage of my friend. I have also spoke to my friends wife and she feels hes being used as this guy seems to be bringing no new ideas or suggestions at all. Overall its being over 6 months since the coaching started and no changes have been made. From looking up this 'business coach' he doesnt seem to have any qualifications to offer any advice really. Its just a lot of money to be handing out. At the very least I would have expected this guy to want to talk about the financials of the business!

    Its quite a big cost to a small business.



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    #4
    antoinolachtnai
    Registered Users Posts: 9,793 ✭✭✭antoinolachtnai


    Firstly, if the business isn't able to comfortably absorb this overhead it isn't doing all that well. Not untypical really for a business of that size and type.

    Secondly, you are probably right. There isn't much real value being offered.

    Thirdly, it's hard to understand what goes through the head of a small business person. Sometimes they need moral support of some sort. Maybe they feel they are getting this (or hoped they would get this) from this guy. As his friend, it is important to try to understand this.

    If you are going to have a conversation with your friend about this (and I think you are right to be concerned), I would suggest you start from the point of view of what positive things can be done to develop the business, bringing your financial perspective, rather than confronting him, even obliquely, about this apparently poor decision.



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    #5
    PickYourName
    Registered Users Posts: 412 ✭✭PickYourName


    I've only just seen this, so a bit late with thoughts on this.

    I think you're right to be concerned. I've no doubt great business coaches exist, but I'd assume it's like finding a good plumber (or whatever): never, ever hire a plumber who comes to you looking for business; all the good ones are kept more than busy by repeat business and recommendations from satisfied customers.

    If you're looking for business advice - including mentoring - best place to start is your local LEO. They have a mentoring scheme: it is a bit hit and miss, but the people doing it do have appropriate backgrounds and it is very cost-effective.



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    #6
    suzieQue
    Registered Users Posts: 6 ✭suzieQue


    My hubby was approached by someone offering this and we thought the same!



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