One of the main objectives of starting a business is to make money. However, if money alone becomes your primary focus, it’s likely you’ll never reach your financial objectives. The secret to making money online is to provide value and utility to others.
Becoming a life coach fulfills this element and can provide you with a career that you love. Learning the steps you need to take to become a life coach can help you start in the right direction.
A Rewarding Career
Life coaching may sound like a prestigious career to have. It allows you to help clients become better individuals, and also provides a challenge to distinguish yourself from other entrepreneurs.
Becoming a life coach can be rewarding because you are helping people to grow to their full potential. Bringing your perspective can help a client see their own choices more objectively.
For example, imagine a client wants to boost their revenue fast and they’re thinking about trading online, a risky endeavor. You could simply ask how many people make money from this endeavor (let alone, quickly). You could also ask, “Do you know any profitable traders? How did they become successful?”
Through a process of questions and dialogue your client begins to see new possibilities and opportunities for research or action.
Defining Your Niche
Getting involved in life coaching is best done by choosing a niche because it allows you to focus on a specific audience where you can provide solutions to clients’ problems. There’s a long list of specialties you can consider as a life coach, ranging from financial management and health to sales and productivity.
Choosing to define your niche can help you stand out from the crowd and become a leader in your field. Examining your background and determining what you would feel comfortable teaching should make it more straightforward to market your business.
Setting Up Your Life Coaching Business
Becoming a life coach doesn’t just mean you’re a specialist who helps clients solve their problems or make decisions though. You’re also starting a small business, which requires you to take steps to keep everything organized and legal.
As a life coach and small business, you need to consider if you want to conduct business as a sole proprietor or choose other options, like an LLC or corporation. Choosing either of the latter will require you to register your business.
It can also help to create a business plan addressing your startup costs. These might include renting space if you decide to meet people in person, or utilize business insurance.
Typically, it’s easiest to conduct your business online, where your expenses are related to building a website and paying for software that allows you to create online courses.
Having a Marketing Plan
Your business must have clients, which means you’ll need to create a comprehensive marketing plan. Self-promoting your business will be one of the main ways you receive the clients you need to reach your financial goals. This can be done by utilizing several avenues.
Building a website with a strong domain name, which might be your own or one that’s highly memorable, is a popular option. Using blogging, video, and podcast platforms is also an excellent way to promote your business and attract potential clients.
Remember, you can offer your services worldwide. Tools like Skype and Zoom allow you to meet with clients virtually, which makes the possibilities endless.
Uniquely branding your business can also be helpful. Use specific colors, fonts, and messaging on your website and social media. Doing so can help build trust with potential clients as it indicates consistency and reliability.
Offering Different Services or Products
As a life coach, there are several products and services you can offer to your clients. Whatever you choose as your niche, it can probably be offered as any of the following:
- Training program or online course
- E-book
- Webinar
- Group coaching program
- Bootcamp or workshop
Creating online courses and digital products offers you the ability to earn residual income. If you choose to provide online programs to a group, it can help you reach more individuals and make more income than one-on-one coaching. You can even use affiliate marketing links for other coaching services.
Determining Your Prices
Knowing how much to charge for your services can be determined by exploring your competitors to see what they’re charging. If you offer the same or higher value, you can set a price consistent with your competitors.
If you get too busy, don’t be afraid to increase your price, especially if the information you’re providing your clients can help them make significant changes in their lives.
Investing in Continuing Education
Specialists in the medical or financial arenas are often required to continue their education to stay current with new practices. Teaching as a life coach requires this practice as well. Staying at the peak of your teaching abilities and delivering the best service can be achieved by seeking new skill-building opportunities.
The amount of continuing education you pursue will depend on your area of focus. As a life coach, it can help to attend workshops or seminars to further your expertise and network. The more you understand and learn, the better you’ll be able to provide the service and assistance your clients need.
Summary
Being a life coach is a highly fulfilling and rewarding career. You get to help people, learn skills and use them to improve their lives. Doing so also offers many ways to make money online, which is a win-win situation for both you and your clients.
