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In conversation with renowned wealth coach Derek Moneyberg on being a tough-love mentor 

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Excellent and effective coaching relies on a potent combination of respect, rapport, support, encouragement, and compassion. Yet as any successful coach knows, to unleash your client’s full potential, you sometimes have to be blunt, direct, and honest to achieve optimum results.

Derek Moneyberg is a famous wealth coach who is a firm believer in the power of being a tough-love mentor. We caught up with Derek to learn more about his unconventional approach and why he’s been a lifelong believer in prioritizing long-term goals over short-term feelings. 

Q: You’re renowned for being a tough-love mentor who gets results. Can you explain the process in a bit more detail?

A: Well, Muhammad Ali said it best when he stated, “I hated every minute of training, but I said, ‘Don’t quit. Suffer now and live the rest of your life as a champion.” That’s pretty much the philosophy behind what I do. It is essential to prioritize long-term goals over their short-term feelings. I choose to work with individuals capable of greatness. Together, we can build something that stands the test of time. 

Q: What is that one piece of advice you give to aspiring entrepreneurs?

A: The biggest challenge of life is to be yourself in a world trying to make you like everyone else. While having a great mentor is imperative, you’ve got to be willing to listen and implement tough lessons. In the end, hard work, sacrifice, and laser focus is quintessential to success. The result is worth every ounce of effort. The only thing stopping you is your mindset. 

Q: Derek, what led you to become a wealth coach?

A: I worked as a manager at Walmart in my late teens, but I felt it was a bit of a dead-end, and I was going nowhere fast. So I quit and built up quite a successful career flipping properties and investing in the stock market. The turning point came in 2007 when a friend who owned a self-help company invited me to his advisors’ board. That’s when I heard my calling and became a success coach. It’s been a brilliant journey, and there’s still much to be done.  

Q: You’re very particular about the clients you work with. Could you tell us more about that and how you make that choice?

A: I’m not one of those everyday coaches you find clogging up the internet with their unbelievable mission to turn everyone and anyone into a millionaire entrepreneur. I make it my business to only work with people who have the potential to win; else, I’m just wasting my time. There are no shortcuts to success. The real world doesn’t work like that. Sure, I can help you and point you in the right direction, but you’ve got to be willing to put in the hard yards. What matters is results; everything in between is a means to an end. In the end, you choose to work with people who resonate with your work style and ethic.


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