11. If your Guru, Coach or Mentor provides material for you, be sure you understand where and how it can be used in your business. Get it in writing. Don't depend upon verbal representations as to its use. You want to be sure that any material, particularly contracts, can be used in all facets of your business. If material can't be used in all facets, what are restrictions? Can you live with them? How this material can be used, may well influence what you are willing to pay. If you can, try to arrange to examine material included before you make a final decision. You want to avoid material that is more fluff than substance. Understand, most Gurus, Coaches or Mentors will not mail this material to you first. Unfortunately, there are too many individuals who would take and copy this material with no expectation of ever working with someone. If you don't live in geographic proximity to person you are considering, they should at least be able to provide you with a very detailed Table of Contents and Sub-Headings for their material. If they are not willing to do that, Pass.

12. Does your Guru, Coach or Mentor give you realistic suggestions to help you, or are they unfeasible given your situation. In other words, are suggestions given within your financial means to carry out. Will they have an impact on your bottom line within a reasonable time frame? Do you have technical expertise to carry out suggestions? Or, do you get feeling that everyone your Guru, Coach or Mentor works with receives same suggestions. Remember, he/she is there to help support, guide and nurture you. Any suggestions given should have those principles in mind.

13. If suggestions are made, be sure to get specifics. Don't accept generalities. If a suggestion is made to write a book, do a tape set, give a seminar, etc., be sure your Guru, Coach or Mentor gives you details as to how to do it, if you've never done something like this. He/she should be able to give you a step-by-step plan of action to implement these suggestions. If they can't or won't, this is red flag. After all, you are paying for their expertise, be sure you receive it.

14. Be careful about references. No one in business is going to give you name and telephone number of someone who is dissatisfied with their service as a reference. So understand that any references you receive are going to be positive ones. Also, if Guru, Coach or Mentor claims to have been doing this for a years, get a range of people going back over this time period. See how many of these people are still active. What type of long range success has this person been able to generate for individual he/she has worked with. Don't expect everyone to still be active, but this will give you some idea as to effectiveness of training provided.

Be especially careful if prospective Guru, Coach or Mentor gives you predominately new individuals to call. This is a big warning sign. Obviously, this last wouldn't apply to someone relatively new.

15. Most Gurus, Coaches and Mentors will look to sign you up for one to two years, or longer. One thing most will not tell you, is that they expect that your calls will diminish over first few months. Therefore, you may be paying for service that you will not need in long run. Avoid long term contracts if at all possible. It may be better to pay as you go if you can. The extra money you save may be better spent on your business.

We hope these guidelines will help you in choosing someone to work with if you decide that is best way for you to accomplish your goals. The bottom line, be very careful before committing yourself to a long term relationship. A good one can greatly accelerate your learning; a bad experience can set you back years, and possibly even kill your dreams.

We wish you best.

Copyright 2000, DeFiore Enterprises.

How does this effect our hourly rate, let's see. Last article we left off at $56 per hour. This represented a yearly salary of $42,000 plus annual business expenses of $15,000. If we take $15,600 in benefit costs and divide by our billable hours of 1100 per year, we get approximately $14 per hour. This brings our total hourly rate to $70 per hour.

Now, we need to factor in our profit sharing percentage. Once again, I choose 10% as a representative number. Your targeted profit could be higher or lower. If you take your $70 per hour rate, multiply by 10%, you end up with $7 per hour. Your total hourly rate comes to $77 per hour.

This is amount you need to charge to cover all we discussed so far.

Compare this to approximately $20 per hour you would need to get paid by an employer to earn our hypothetical $42,000 per year. And yes, I know today many employers require a co-payment on their benefits package. I stated it this way for simplicity sake.

So, you need to charge almost 4 times what you would earn in salary to end up at same place. Don't be discouraged, there are many people out there that are charging a lot more than this and getting all business they can handle. Remember, these numbers are hypothetical, your situation may be much different.

Copyright 2000, DeFiore Enterprises.