In this podcast, Speaker A discusses the significant impact of coaching and mentorship, highlighting a study shared by Dr. Kashi that found individuals with mentors achieved four times greater success than those without. Speaker A also explores the paradox of coaching, where despite proven benefits, coaches often face criticism. They delve into the psychology behind gratitude fading over time, as described in a book co-authored by Robert Chialdini, and the importance of timing when seeking testimonials or reciprocation of favors. Speaker D briefly promotes their book "100 million dollar offers" as a resource for listeners. Speaker A concludes by emphasizing the need for continuous innovation and providing value as a coach, as the perceived worth of past contributions diminishes over time.
"People who had mentors and coaches experienced four times greater success than the exact same person doing it on their own."
This quote highlights the core finding from a large-scale meta-analysis that indicates the effectiveness of coaching and mentorship in achieving success.
"And the reason I wanted to talk about this is because I think it's a super important topic for a variety of reasons. One is, why is it important? But secondly, why do coaches get so much hate?"
Speaker A is addressing the dichotomy of coaching being important for success yet often receiving negative sentiment from the public, which they find perplexing given the demonstrated benefits of coaching.
"When doing a favor for someone, the perception of the favor and how important and how big it was actually correlates with time."
This quote explains a psychological observation that the appreciation of a favor is highest immediately after it is received and diminishes over time, which can be applied to understanding how perceptions of coaches may change after their services are rendered.
"Then over time, it just continues to decline. Right? Over time, it continues to go down of what their perception of what your favor was and what it did for their lives."
This quote illustrates the diminishing appreciation the recipient of a favor has as time passes, highlighting the transient nature of perceived value.
"But if you revisit that same story six months later, the person who got the favor is like, I mean, I would have figured it out anyways. I'm a pretty smart guy."
The recipient's perspective changes over time, leading them to believe they would have overcome their challenges without the favor, indicating a shift towards self-reliance in their narrative.
"And then the person who did the favor is like, oh, my God, I saved this guy's life and he doesn't even. Blah, blah, blah, blah."
The favor doer's perception evolves to overestimate the significance of their help, often feeling unacknowledged for what they perceive as a life-altering contribution.
"But the point is that this is a psychological bias, and it's just real. It's just in people."
This quote confirms the existence of a psychological bias that affects how people perceive the favors they give or receive.
"If you do someone a favor, the time to ask for a favor in return is immediately, immediately after you've done the favor, because at that point is where they will believe what you did for them was of the most importance."
The quote suggests a strategy for when to request a reciprocal favor, capitalizing on the immediate high perceived value of the favor done.
"And I think of it like a telephone wire. So if you guys are old school, I don't even know if, of course they think of some telephone or power lines where there's a pole and then it dips down and then there's another pole and then it dips down and then it's another pole."
This analogy describes the concept of maintaining goodwill through repeated favors as similar to the support poles holding up a telephone wire, suggesting that without support, the connection can fail.
"I have a book on Amazon. It's called 100 million dollar offers. At over 8005 star reviews, it has almost a perfect score."
The speaker is using the podcast platform to promote their book, which they consider a favor to the listeners due to the effort put into it.
"It's my very shameless way of trying to get you to like me more and ultimately make more dollars so that later on in your business career."
This quote reveals the speaker's intention behind the promotion, which is to increase their likability and to create a foundation for future business benefits, tying back to the concept of strategic timing for reciprocity.
"Is that information, although incredibly valuable upon consumption, immediately decreases in value, in perceived value to the person who consumed it."
This quote emphasizes the transient nature of information's value from the perspective of the consumer; once consumed, its value diminishes quickly.
"And so this is why if you are teaching people things, you need to consistently teach new things on a regular basis so that they can continue to grow."
The quote suggests that educators or information providers must continuously update and expand their content to keep it valuable and relevant for their audience.
"And so if you want you help someone lose 25 pounds working with you, then get the testimonial at that time, right. At that moment."
This quote illustrates the importance of seizing the moment when the client's satisfaction is at its peak to obtain a testimonial that truly reflects their appreciation.
"Whereas if you've done it right, after they get off the scale and you tell them to come right in and then you do a great video, they'll have all the emotions, they'll just have gotten out of pain."
The quote highlights the emotional impact of capturing a testimonial right after a significant achievement, ensuring the emotions are fresh and the value of the service is vividly appreciated.
"And I think that I've experienced this myself with different coaches that I've had throughout my life, recognizing myself internally as, like, I look back on what they did and I think those same thoughts, which is like, I would have done it anyway. I'm a winner, winners win."
This quote reflects a common tendency to retrospectively undervalue a coach's impact, attributing success to one's own inherent qualities rather than the support received.
"But I think I have probably in the last year or two been much better about giving massive amounts of respect to the people who helped me out earlier on in my life."
The quote shows a personal evolution in the speaker's attitude towards acknowledging the role of coaches and mentors in their past successes, indicating a growth in gratitude and respect.
in my book, which was released two years ago, a year and a half ago, whatever it is, I have acknowledgments in the back and I have all people who influenced me on that page, good and bad, because I still learned tremendous amounts from some of the people who were what I would consider maybe negative mentors, right.
This quote highlights the importance of recognizing all types of influences in one's life, as they can all contribute to learning and growth.
And so I think Tony Robbins talks about this where he knows, blame them. You can't just blame your mom or your dad for the insecurities they gave you. Also blame them for your resilience. Blame them for your ability to persevere.
The speaker is conveying Tony Robbins' idea that one should attribute both their strengths and weaknesses to their influencers, recognizing the full scope of their impact.
And then three, if you are the coach, if you recognize that this is going to be a cognitive bias, this is going to be a psychological bias that's innate in all humans, then you can adjust the way that you fulfill your business or you fulfill your coaching.
This quote underscores the need for coaches to understand and adapt to inherent psychological biases in order to effectively communicate their value to students or clients.
Because the good news for everyone is that every single student you ever have, as soon as you solve a problem, a new problem will be created from the gap that you just bridged, right?
The speaker is emphasizing that the process of coaching is ongoing, as solving one problem for a student inevitably leads to the emergence of a new challenge.
Because the value that you provided has an expiration date.
This quote reflects the concept that the benefits of coaching are not indefinite and must be continually renewed through further effort and innovation.
For me, I think it was really once I kind of connected all those pieces together, it made a lot of sense in my own life for me as a student, but also for what I've experienced as a coach.
The speaker shares a personal reflection on how integrating these ideas has made a significant impact on their life and work, suggesting that others might benefit similarly.