Lots of famous folks are closing shop and "retiring" from coaching and online business. Some people are asking:
"Is the coaching bubble bursting?"
I don't think so.
Grifts and pyramid schemes and “coaches” by different names are part of the historical fabric of capitalism. Remember Episode 13 and Napoleon Hill? He was a business coach before we had that term!
There will always be more people desperate to “get rich quick.”
I think people leaving coaching and online business aren’t evidence that the bubble is bursting but that their bubble is bursting.
They are burned out and, more than anything, realizing that the only ways to continue “scaling” at massive rates are unsustainable and unethical…
Coaches aren’t going away.
The world is hurting right now and there will always be people who need support...or want a magic pill.
What we’re seeing is turnover.
For all the burned out folks leaving, there are endless ready to come in and take their place.
Why do you think so many business coaches target brand new entrepreneurs or hopefuls eager to give their “two weeks notice” (the title of Amy Porterfield's upcoming book targeting folks with day jobs who want into the online business economy).
Because this audience is green and hasn’t been around long enough to notice the patterns.
This is how folks like Tony Robbins & Dean Graziosi continue to scale. With partners like Jenna Kutcher who give them access to a brand new audience of folks who’ve never heard their sales pitch.
Folks who don’t realize much of their business advice is available free on Google.
Filling a funnel with newbie entrepreneurs is part of the strategy for gaining “transformational” testimonials.
The info they sell in their programs is elementary but to a new entrepreneur who has never heard this stuff before, it feels MIND BLOWING.
So do I think the coaching “bubble” is bursting forever?
I think we can expect more regulation, yes.
But just like “diet pills,” sellers will simply adapt and change their methods.
The worst coaching weaponizes the desperation people feel within capitalism.
As long as people are hurting, others will sell to that pain.
Who doesn’t want any easy way out?
Tale as old as time.
The problem is the system that puts profit > people. Not a few unethical coaches.
I see many folks peddling the message that wealth building is a feminist endpoint, specifically.
But this denies the reality of this economic system.
Extreme wealth (or wealth, in general) is literally impossible for all people within this system.
Selling wealth as the solution without a critical analysis of the reality of capitalism is just more of the same.
We can’t buy (or sell) our way to a better world!
This episode of Marketing Muckraking is all about the question:
"If the coaching bubble ISN’T bursting for good, then who are the GOOD coaches, RKA?"
Can you give me a LIST? Make it easy for me. I’m kinda exhausted by all the muckraking. I’d like some feel good answers.
Well I’ve got answers, alright.
I pulled this episode from the FREE SCHOOL archives.
Last year, I did a live in June 2021 about this very question — “Who are the good coaches, RKA? Who can we trust?”
Listen up — it’s a wild ride!
- You meet my character Brad the Braggy Bro and learn his back story.
- You get a peek at what I teach in my keynote speeches about reverse niching.
- And you get my answers about who are the coaches you can TRUST, dammit!
Buckle up. Let’s go on an adventure...
And you can download the reverse niching exercise I discuss in this episode here:
Mentioned in this episode:
About the Marketing Muckraking podcast
Welcome to Marketing Muckraking, the show that asks not simply what brand culture can do for us, but what it’s doing to us — with your host, creative director, brand strategist gone wild, and the court jester of online business, Rachael Kay Albers — making fun of business and making business fun.
This is the show for rebels, revolutionaries, and renegades who run businesses that burn the rulebook. If you’re sick of business podcasts with all the answers — I’ve got nothing but questions.
Where we swap B School for FREE SCHOOL, easy for honest, and goal digging for marketing in pursuit of meaning.
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I have no freebie to tempt you with.
No automated email sequence to whisper sweet nothings into your inbox late at night.
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