Part 3: $40,000 on Coaches, WTF?

Part 3: $40,000 on Coaches, WTF?

Welcome to a multi-part series on creating my first online course. Check out Part 2 here.

I can confidently say that RadReads is finding its rhythm. The blog and newsletter have found a comfortable cadence and together act as a flywheel for a budding coaching practice and speaking gigs. And while these are high-value “exchanges” of time for money (aka revenue), they are not sufficient to cover our annual burn. While we’re smart about money and investing, we’re NOT a FIRE family; most of our expenses come from prioritizing travel, physical activities, and experiences. And another big one: coaching. Specifically, $40,000 of coaching.

Yet another coach?

Launching the digital course led me to hire a second coach. Yup, you heard that right – someone who could specifically help me get over the impostor syndrome of launching a new venture. But first, let’s backtrack: $40,000? Over 5 years? You’ve got to be kidding me!

I hired my first coach in 2014, one year before leaving Wall Street. I had already made up my mind that I was going to leave, but felt like I needed an emotional safety net to keep me grounded during the entire process. Along the way, I began confronting my scarcity mindset and fear of death – while building the confidence to step outside of society’s expectations of what a “successful career” looked like.

Next, I wanted to do some deeper emotional excavation and began a series of conversations around suffering, delayed gratification, religion, cultural norms, love, and the after-life with a second coach. And recently, I added a business coach to the roster – bringing my four year spending on coaching to approximately $40,000 (or $10,000 a year).

Can it possibly be worth it?

There’s a huge body of research that spending money to buy back time is one of the best investments you can make – and this includes experts like nutritionists, personal trainers, and coaches. That’s a highly personal question, but for me it’s a resounding hell yeah. For starters, it’s hard to quantify the confidence that arises when you confront your biggest fears and insecurities: you take more risks, find contentment in life’s mundaneness, shed your envy and stop caring about what others think. How on earth could you ascribe a dollar value to that?

But with the course, I found myself battling another set of obstacles. The vagueness and open-ended nature of a big, new project. The lack of a playbook. And tbh, just the lack of confidence to getting started.

Starting has never been one of my weak spots

I’ve got the knack for starting creative projects – unafraid of the consequences of failure. Create, and they will come. But as I wrote in the prior post, the perception of being a snake oil salesman was holding me back:

My greatest insecurity about RadReads (and, by extension, this course) is to be perceived as a fraud. A hedge fund huckster who lures unsuspecting readers into the false promise of a happier and more fulfilled life. I’m always wondering if I’m naive to the fact that everything I write about is of limited value – or even worse, it’s dangerous thinking.

The clock don’t lie

And I could see this fallout from this insecurity when I conducted a time audit. “Research and development” as I was calling it was dead fucking last on the spectrum of activities. For someone who knows how to focus and is well organized, I knew that this was a symptom of a bigger problem.

And I saw this in my behavior. I was so overwhelmed about where to begin, that instead of putting one foot forward, I would just look for an easy release – like checking email (where I spent 4x more time).

Finding “Important, not Urgent” accountability

My coaching practice has given me a firsthand perspective on how hard it is for solopreneurs to tackle the Important, Not Urgent bucket of the Eisenhower Box. I know that one of the reasons they engage me is quite simple: every two weeks, I’ll ask “Hey, did you make progress on that long-term project?” Sounds simple, but despite being the highest leverage activities – we tend to avoid them.

And tbh, I just needed someone like that in my own life; not to mention someone who had experience in course design, pricing, digital marketing, and the dozens of other things I knew very little about.

But $40k, you’re nuts man?!?!

I am steadfast in my belief that I will always have a coach. It’s the highest leverage investment in myself, my marriage, and my business. Yes, I cringe every time I send over the PayPals – but my life is filled with daily reminders of the dividends. And they too, compound with time!

Become an Insider

We'll give you an inside look to the course financials, launch strategies, and discounts when we finally go live.

Join us on May 2nd for our digital workshop: The Fulfilling Path to Financial Independence, which includes:

  • A two hour live virtual workshop on Financial Independence (with full replay access)
  • A live Q&A with Khe Hy with ability to submit questions in advance
  • activation templates to start planning your path to Fulfilled Financial Independence
  • Lifetime access to the curriculum and modules
  • Private invitation to the Financial Independence Slack Channel
  • Discounts on all upcoming courses and workshops
Khe Hy
[email protected]

Khe Hy is the creator of RadReads.