Wayne Gretsky, Isiah Thomas, Magic Johnson, and Pete Rose. Each was phenomenally successful at scoring goals, points, or runs in their respective sports. Coaching others to do the same? Not so successful.
Bill Belichick, Pat Riley, Bobby Cox and Tony La Russa. Polar opposites to the previous four athletes.
"What's your point?" you ask.
Business people, like athletes, don't have to be great players to be great coaches and vice versa. However, great coaches can bring out the best in others.If you're a highly successful FXG contractor who's extremely profitable, congratulations!
However, if you're an FXG contractor who is not extremely profitable - there are a couple of paths to profitability:
Option 1: Follow the most profitable CSP's you know down the path of easy profits.
Option 2: Follow a coach who's mission is to help CSP's become profitable.
If Option 1 is the obvious choice, why aren't you already profitable?
The truth is profits don't come easy. Business success like sports success is achieved in the "off season" by working on fundamentals, constantly recruiting others to your team and following a coaching staff who knows how to bring out the best in team.
Some people think coaches are "know-it-all" types who couldn't achieve success as players which is true of bad coaches, but not true of good coaches.
Every profession has both good and the bad players and coaches.
If you want to be more profitable, find a coach who's helped others become profitable. Don't simply shadow a star player, they're busy playing, not coaching. You'd be wise to identify a coach who's job is helping you achieve your own dreams.
Until our next post...