Can you be too rich?
They say that time is an artificial construct. So it is OK for me to send out a newsletter dated October in November 
We have been working very hard to complete several projects for launch at the International Coach Federation Annual Conference at Long Beach last week. Then, when I arrived, the power supply of my computer blew up. So I am running a little late.
Some years ago I ran a residential future managers programme with some colleagues in Wales. One evening, they were discussing what would be an ‘obscene level of wealth’? My response was that the only obscene level is too little - i.e. poverty.
However, I have been much challenged recently when it was announced that a single parent postal worker had won £34 million in the National Lottery. What impact would that have on her?
Winners often say that it will not make a difference in their lives. They might buy a larger house, or one nearer the pub! But in practical terms they cannot stay the same. Consider going to the pub; who would be expected to pay?
I was very impressed recently with an interview with Ricky Gervais, the UK star of The Office. He had been to the BBC as a guest of Greg Dyke, who had introduced him to Sting and Salman Rushdie. Gervais does not wish to live the life of a celebrity and manages to keep a low profile with his existing friends. He explained that the following night he was in the pub with his friends. One asked what he had done last night. He replied "Not much." As he commented, if he had mentioned who he had met, how could they have responded, how could anything that they had done match that? It would have destroyed any rapport.
If I were to win £1 million I would be comfortable. If I were to win £2 million I could live in luxury. But if I were to win more; then what? I would be earning more interest than I could spend.
It seems to me that if you win a large amount of money there are only two things you can do. You could give it away - or you could buy/start a business. Either way, the need is to make it work - and that is likely to require you to commit considerable time to its management; a major change in life.
However, many people do have successful lives with many millions - or billions - of wealth. The difference is that they have earned it and have developed their aspirations and lifestyle to match. The conclusion, therefore, is that an obscene amount of wealth is too much, too soon.
The same can apply to other types of change, such as too much promotion, or a sudden move to a foreign country. Coaching can help people face up to and manage sudden change, keeping their aspirations and actuality in step.
www.CoachesGetRich.com
Few coaches have the problem of too much wealth ;-(
One of the new products we launched at the ICF last week was our new web site CoachesGetRich.com. Research and experience have shown that many coaches are not earning enough, mainly because they do not have the marketing or sales skills - or because of the classic feast famine of a solo entrepreneur.
Our slogan at the exhibition was "Ask me how I earn while I sleep." One solution is to develop a portfolio of different income streams, especially using the 24/7 global Internet. CoachesGetRich will supply a series of suggestions of how to develop your business, including links to services and resources that will help.
The ICF Conference exhibition this year featured a much greater emphasis on helping coaches succeed in their business and CoachesGetRich will report many of these. Why not check out the site and register now.
Richard Winfield is founder of Brefi Group.
An international facilitator, he coaches and
facilitates directors and boards in transition:
helping them to make progress by
bringing structure and clarity
to their thinking.
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