Be Intentional About Life

Coaching Family and Friends

Just wondering what you all think.

I'm in the process of starting a financial coaching business. Is it a bad idea to coach your friends and family? My sister and her husband could use some coaching but I wanted to get your (the "groups") opinion on the matter.

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Permalink Reply by Mark H Jones Jr on May 26, 2010 at 8:59am

Only coach them if they ask for it. Otherwise just encourage...be looking for needs they have that you can meet...share blessings from your own life.

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Permalink Reply by Justin Lukasavige on May 27, 2010 at 2:33pm

I'm with Mark. My family and friends ask questions but only a few have hired me. Be generous with answers when they ask, but don't assume they'll take your advice and do anything about it.

I was on John Miller's radio show this week and we talked about that. It's rare when someone takes advice and does something with it.

I'm sure you could help your sister, but make sure they're both on board with what you'll have them do.

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Permalink Reply by Derek Sisterhen on June 3, 2010 at 4:03pm

I think Mark and Justin are right on with this. Funny things happen when we mix blood types and financial advice. I know you want to get a "guinea pig" to try your stuff on, but you don't want to get tangled up in relational stress.

You could casually offer to give them some help, but don't be disappointed if they don't take you up on it. You can always be waiting in the wings to help when their ready to ask.

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Permalink Reply by Chad Berg on June 3, 2010 at 10:00pm

Derek,

Does this mean I can't coach anybody who is A-. Good thing it's not the most common blood type!

Thanks guys for all the advise. It is what I expected but I just wanted to get a couple expert opinions.

Derek Sisterhen said:

I think Mark and Justin are right on with this. Funny things happen when we mix blood types and financial advice. I know you want to get a "guinea pig" to try your stuff on, but you don't want to get tangled up in relational stress.

You could casually offer to give them some help, but don't be disappointed if they don't take you up on it. You can always be waiting in the wings to help when their ready to ask.

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Permalink Reply by Matt Wegner on June 10, 2010 at 3:49pm

I agree with the group here. I've offered advice to family and none will take it even though they need it. I've been asked to help a friend's parents and that has put a strain on our relationship because her parents (even though they paid a fair price for the service) haven't followed through with the advice and have missed several appointments. Bad situation all around and I had to cut ties with them as clients so we could remain friends.

Gotta be careful mixing family, friends and financial advice!