I had my coaching contract with Tom Ferry which I continued for 7 months and I wish I had never taken up his coaching at the first place. My coaching started with TFO in February 2017 and I was looking to conquer new heights in my business. From last three years, my business was showing no growth. I was able to make $100,000 every year and wanted to grow with time.
When I consulted Tom, he offered me a free consultation where he assessed my business plans and my tactics. It was a bait which fall at the right place. After consultation, he suggested that I was using expired techniques which can never help me grow with the current trend.
After he assured me of the growth, I opted for his coaching program. He was very convincing. He said that I used to be a great agent in past, but the position I was holding now, needed new ideas and techniques for better future.
The coaching was worthless and I had two coached during the time I was with TFO. The first coach was bad and could not add value to any plans that I already had. The company paid referral bonuses for coaches and anyone could have been introduced to the coaching program to become a coach himself. Coached just need to follow their manual prepared by the company and should have a time schedule to earn the incentives.
The real money came from the referrals. But, during the time, I was working with my first coach, I couldn’t make any profits. On the other hand, my annual figure dropped to $36,000. I requested to change the coach. The second one was better, but it was too late, and the damage was already done.
I had to battle a lot with Tom and convince him to terminate the contract. I told him that my limit was over on my credit card and I was not able to pay the monthly fee for the coaching. I also added that because of the bad coaching, my annual profit plummeted. That was the reason, I was not able to keep up with the credit card payments.
After a month, I received a call from them. The person was Rick and I told him the financial condition I was going through. I explained how the bad coaching from Tom and his coaches ruined my business and put me in a huge debt.
Rick promised that he would try to find a solution and would contact in few days. After not hearing for quite a while, I left three messages. But Rick did not reply. That signals that Tom does not care about his people whom he promises to profess. I am very angry and disappointed by the way they handled my situation. They did not care to provide any solution for the damage that they had caused.
I am still in huge debt and will try to convey my message to as many people as I can. If you wish to save your business, stay away from Tom Ferry.
731page views and 40000$ of monetary losses. The most of the users reported the severity of the scam is high.