Believability Weighted Decision Making

Investor Ray Dalio says you should never make an important decision without asking at least three people who have repeatedly and successfully accomplished the thing in question.

What’s really interesting about this is, as a mentor, I used to think that maybe you have to have a certain amount of money doing 1-1 coaching in order to be a good mentor.

And I still think people talk about that in our industry.

Now don’t get me wrong, if you’ve never had a successful business and then you’re telling other people how to, probably doesn’t make that much sense. But the variety of experience I’ve had from running lots of different businesses and also being employed by certain businesses, I think is really really helpful.

What coaches don’t understand about their decision making in their business is they will often ask people who don’t have more variety of context and experience than they do.

So they might ask friends who really care, but they don’t actually have any of the context whatsoever.

Or they are in communities, masterminds, where they have peers who are at the same level as them, but that means that they share the same blind spots that they do.

For example, if you have a certain niche and you are trying to get 1-1 clients and ask lots of other 1-1 coaches

You will get lots of tactics and tricks on how to bring in people one-to-one, which is neither good nor bad, but it might not be the best solution.

Whereas I’ve had many coaches where it’s blatantly obvious to me that they could package their thing up differently and sell it b2b, whether that’s to corporate, gyms, other coaches, other health practitioners.

And that’s not if someone wants to do 1-1 coaching, I’m not saying you have to do a different business instead - but if you just want to have a business where you help people, working with someone who’s had experience of doing that themselves in so many different jobs and also working with so many different coaches to do the same thing?

Is probably more helpful than mentors who just help 1-1 coaches with the same thing that they’ve always done, no matter whether it still works in today’s market or whether it’s the best thing for the business.