Ben Settle sent out an email last month that precisely expressed,
more articulately than I have…
…my own sentiments about what’s wrong with selling outrageously
expensive coaching and training programs online to newbies:
“I’m not a big fan of high ticket coaching and masterminds that
are targeted to people who are newbies, desperate, or don’t have
the money, experience, or the knowledge to put the info into
“Even with my own products, I tell people not to buy if they have
to go into debt over it. They should get their financial houses
in order first.”
I applaud Ben’s ethical and sensible stance here. He explains
that his objection mirrors his own experience as an info products
buyer when he was a newbie:
“I simply didn’t have the money to afford all the high-priced
stuff. I started with low-priced books like Dan Kennedy’s
Ultimate Sales Letter, for example, which was like $8.
“Then, when I was able to afford it (using money earned from
applying what I learned in the first book), started spending
money on the more expensive stuff.”
On the other hand, my friend HK points out that some people have
spent their last dime to attend training on a money-making
venture they really wanted to pursue, learned it, applied the
learning — and became spectacularly successful at it.
I know this is true, as several of my readers and students have
achieved precisely this kind of success.
The problem is, they are outliers. As for the rest, most of the
people who spend $5,000 for a training never recover a fraction
of the investment, if any.
If you are interested in a topic and a guru, here’s the order in
which you should acquire his or her knowledge:
>> First, read and get all the free stuff only — their
e-newsletter, free ebooks, free special reports, online articles,
blog, free webinars.
>> Second, most gurus have one or more conventional paperbound
books, usually selling for around $15 new, a few bucks used on
Amazon, or available free at your local library. These books have
much the same content as their $200 multimedia home study course
or even their $1,000 coaching.
>> Third, when and only when you have exhausted the free and
low-cost supply of the guru’s content, then move up to one of his
more costly paid products — but just one to start. And always
make sure there is an unconditional money-back guarantee with a
30 to 90-day return window.
Do not fool yourself, like many students at Ivy League
universities do, into thinking that a higher price automatically
means better content, better learning, and better results.
It’s like Matt Damon’s character explains in Good Will Hunting to
an obnoxious Harvard grad student: “You’re spending $50,000 for
an education you could have gotten for a dollar-fifty in late
fees at the public library.”