Brilliant Becca! Has totally reframed my mind and intention. Now to go back and refine, rework and redo……. Thanks for having the courage to talk about the uncomfortable! As a brand newbie just starting out with a coaching program paid for and about to commence this coming Sunday , and having just completed B-School this year, I was at first feeling quite defensive about your words.
I also thank you for it. Your words speak a confronting I speak for me, being so new to the coaching world truth and the coaches I checked out prior to deciding on the one I did, all spoke the same words and promised the same dreams the one I went with was quite different so thank you again for being so awesome and honest!
I love this article so so very much. You know I do. I love that this conversation is getting louder, and more honest. And I love being part of the solution helping incredible coaches build stronger businesses.
I wish this had been around when I was starting, and I am so damn glad it is now. Anyone who tells you that business is easy is lying, if you are a coach keep coaching. 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. But there are plenty of successful life coaches. Ever hear of Tony Robbins? My clients have lost 80lbs, started dream businesses like opening up their own Brewery and Fell in love and bought houses, and basically are kicking ass at life.
Follow your passion despite what this post says! This is so so true and I think this is at the core of coaching businesses — once you realize what it takes — do you still want it? That much I can guarantee! Best of luck in your new coaching biz, and let us know how it goes when you get started! Kristen Walker Thanks Kristen! EllenErcolini Ellen, you and Becca have given us the greatest service in speaking this truth so boldly AND creating such an awesome solution.
Love it, Becca! Well said — every last bit of it. Becca, this blog set me on fire. Within seconds I clarified my expertise and found the hook that I had missed … until now. Your willingness to lead us out of the comfort zone lead me into my wheel-house. XXOO, Nicole. Hi Karen, I have nothing but brilliant things to say about B-school as it has changed my life.
Marie Forleo and B-school have provided me with many tools to take my business and fly and I will do just that! However as I kept reading the article I could see the point Becca was making and I applaud her for being so truthful and thanked her for her wisdom.
Thank you also Karen for confirming my thinking that the combination of B-school and coaching training is a fantastic platform to build my successful business. This is straight up truth and it needs to be heard and understood and actioned more. Thank you! B-school teaches you how to market yourself. Kudos to you for laying it on the line. Thanks for stirring it up and being unafraid to share real-life struggles of coach training vs.
Fortunately for me when I started almost 10 years ago there was hardly any competition and I did ok in spite rather than because of myself. There is a shit load of unscrupulous training companies selling the dream. However, supply far exceeds demand and there were actually less searches for the term Life Coach in than there were in on Google. They hold back that interesting piece of information.
I have worked with about and not ONE was even close to being full. PS I doubt you offended anybody with this except maybe autocorrect who refuses to believe I ever want to type fucking and insists I mean ducking. Love this Becca. And totally with you!
That is genius. And so, true. How do I convey the results that I provide and the problems I solve. BrandyMiddleton Thanks Brandy! Life Coaching is such a fantastic skill to have and I wish that as a business it was an easier sell! I think life coaches are doing great work in the world!
Best of luck with your business! They have built up a client base since then and often run off referrals. Thanks so much for your insight — super appreciate hearing from someone who has been at it for a while! Thank you so much Becca for your no bullshit approach and reality check.
I have a successful career, which I have no intention of leaving, and I am a certified coach. I heard the same sales pitch — with just clients per month I can leave my full-time job. Hell NO! Maybe with clients ongoing for a few years.. And the sell is the most difficult for me.
There is nothing better! Most have been from referrals, for which I am very grateful. I agree that coaching is a skill and being passionate about your skill will help you overcome those tough moments.
Now with that said, business is business and if it was easy everyone would do it. Being in business means you will need to put those boots on and get too steppin. However if you stick it out, you will not want to do anything else and yes it can be profitable. Thank you for putting into words what I have been feeling for the last months. I have felt a bit duped by my coaching school, thinking that I just have to want it bad enough and the clients will come knocking.
I love what you said about coaching being the skill behind the business, not the business itself. Financial stress is keeping me from being creative about my business and creating something kickass that people want to buy.
Hey Becca, what a great article! I have finally caved and have been applying for jobs part time to start.
I have been so burnt out trying to build my business while struggling financially. How can I move past this block OR how can I position myself so I only attract people willing to invest in their recovery?
Thanks so much for your question. I loooove the idea of the slow build — highly recommended! If you feel compelled to help the broke folks, create a lot of free content blogs, free resources etc so you can feel good about helping that market AND get paid for what you do,. I was at a wedding reception. Hi Rebecca. Once you start seeing coaching as a way of making money all the relative stress that come along with this, will affect your coaching greatly and make it extremely hard. From the frustrated mother dragging a screaming child at the grocery shop, to the obese teenager at the icecream parlor.
This is what makes me happy and fulfills me no matter if I get clients or not. That approach of disconnecting myself from the money making mentality has actually created more business and quality business. But I agree with you and I also advise people not to quit their jobs or other businesses to become life coaches. Monetary detachment is key to life coaching success. My best regards to you all. I have recently signed up for a year-long coaching program that will start in August.
My coach paid for her entire program from working as a coach right from the beginning. I truly believe this is what I am meant to do and it will only help me with my full-time work as an advisor for college students, but I still have to be able to pay for it.
I really hope i can figure out a way to make this work as a side business though because I truly do have the passion for it. Thanks for hopping in here Kassy. You are absolutely right that getting clients right away is a great way to learn faster and get started sooner. So, take a deep, restorative breath. We know you can make a living doing this yay! And we know there is room for YOU as a coach.
So we come full circle now. We started with the fact that many coaches fail. Job postings for corporations, large non-profits, and government coaching positions often require an ICF-certified coaching credential, says Davis. If you own your own coaching business, you can work anywhere you want, from an office in an executive building downtown to a favorite lakeside lounge chair. Experience will be key to advancing your career.
This can help you take on larger coaching roles and win referrals from satisfied clients. Another way to advance is through training. There are several ways to do this, including earning a coaching credential from the ICF or a specialty organization like the National Board for Health and Wellness Coaching.
Those starting as a life coach may find clients hard to come by while overhead costs start piling in. Long-time coaches, on the other hand, may find themselves with significant income but still unable to reach their revenue goals. Hustling for weeks and months to keep things afloat can be disheartening, but as a life coach, you know better than to give up!
Passive income for life coaches is easy to generate, and you can make money without burning out or reinventing the wheel.
Life coaching is considered a relatively new profession that involves a wide skill set. In a nutshell, life coaches are wellness professionals who aid their clients in improving their careers, relationships, and overall quality of life. As a mentor, life coaches help their clients clarify their goals while identifying obstacles that hold them back. As problems are identified, solutions and strategies for overcoming these obstacles are also discussed using your innate skills and gifts.
The life coach salary varies depending on several factors, but they work similarly to independent consultants. Most life coaches work on an hourly rate or under an organization while offering a variety of services. Their salary depends on the frequency of sessions, fees generated, the number of clients, experience, expertise, and if they have other sources of revenue streams.
Entry-level salaries are generally low for most life-coaches. Some people seem to think that passive income is a set-it-and-forget-it setup that requires zero investment. This is a massive misconception. Passive income streams will require either a time investment or a monetary investment. If you think you have enough resources to provide either time or money, then these strategies to generate passive income for life coaches will benefit you.
Remember, there are thousands of self-help books in the market and without a unique selling point, your book will get lost in all the noise.
Be specific. Because going broad will prevent you from going deep — and people are looking for specific solutions to specific problems. Understand your audience. Size up your competition. Market your book. Consider promoting your book across your social media accounts, spread the news on relevant forums, or sell it to the public through websites like blurb.
With that said, online courses can be one of the best sources of passive income for life coaches. Create a course outline. Plan out the course you want to create and break it down into separate lectures or videos. While text courses will sell, videos are more attractive. Most courses are around an hour-long, with each step lasting 5 minutes each.
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