Media outlets such as CNNMoney, the Wall Street Journal, Forbes, etc., have repeatedly cited business and life coaching as one of the fastest growing professions. This advice may seem a bit misleading. How can a blog generate additional income for a business advisor? When maintained well, it's easy, especially if the topics are what potential customers are looking for. Constantly updating your blog not only attracts new customers to your website, but it also helps current customers get a little more information, for free.
Offer individual coaching sessions to clients. Create your own coach training school, train and certify people to become coaches. Training other coaches is undoubtedly the most lucrative way to earn money as a coach. You can include it as part of your training or offer it as a standalone program.
You can certify life coaches or coaches in other specializations. Check out our program on how to start your own coach training school. And when you create passive sources of income around your coaching business, it can be downright lucrative. You probably know at least one person who has proclaimed himself a life coach and then received crickets in response.
But here's the thing (something you may have already learned): something that sounds great, and people saying that life coaching sounds interesting or inspirational, DOESN'T mean that those people are willing to pay you for it. Okay, let me edit that a little bit: IT CAN BE a business, but it needs a few more things to turn it into a business that actually generates money (because a business that doesn't make money is a hobby, and I've seen a lot of fans of life coaching back in the day). As a life coach or health and wellness coach, you can hire companies and conduct corporate training programs and workshops. Popular products that life coaches can advertise include books, courses, and productivity and wellness software.
Not everyone can figure out how to make it work and not everyone really wants to be a life coach when they realize what it takes. Since life coaching is a more streamlined sales process (you don't need to convince a lot of people in HR and hire through a big company) and it's cheaper for people to buy, sometimes it's easier to get clients. Now that you know why coaching is an excellent first step in launching your business, I'll share with you the infallible 6-step process that I used to start individual coaching a few months after getting my first 100 subscribers. If you're a coach struggling to get clients, check out my Uncage Your Business program, where I help you to be clear about your niche, message, packages and online content that will help you get noticed in the coaching industry and get clients sooner.
The same study found that 51% of life coaches reported losing active clients and that 37% reported reducing working hours. Self-paced training programs are for those who can't afford their private training services or for those who aren't prepared for that one-on-one interaction. But I agree with you and I also advise people not to give up their jobs or other businesses to become life coaches. All training skills are great to learn and very beneficial, but monetizing them is something completely different from what NO training program is going to talk about because it hinders their growth.
Once you start to see coaching as a way to earn money, all the relative stress that this entails will greatly affect your training and make it extremely difficult. There's a reason no one has created a corporation full of life coaches who generate billions of dollars in profits a year. .
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