Ever wonder how to get started with a coaching business?
Over ten years ago, I decided to start my coaching business. I always knew I wanted to be an entrepreneur, but the decision to become one led me down a twisty road of self discovery, never ending learning, and constant evolution.
My goal here at Spark and Profit is to help make the process of building your business and earning an income on your terms simple as pie so I created this Income Strategy series.
One of the most defining decisions I made in my entrepreneurial journey was to become a coach so I will kick this series off with coaching!
Why become a coach?
Most people who become coaches do so because they have a burning desire to help impact the live of others. Many coaches are overcomes of trials and/or have experiences during their lifetime such as divorce, weight loss, parenting that they which to help others get past.
Most coaches will tell you that they were always the person that people came to for advice or shared personal information with, all their lives.
For the coach, coaching allows you to fulfill your purpose at a deep level.
Do you need training to become a coach?
Coaching is a non-regulated industry which is what makes it easy for many to say they are coaches with no training or skill in client transformation.
You do not have to be certified to be a coach however, I suggest that you do so if this is an avenue you are considering.
Training helps prepare you by teaching you the skills necessary to help your clients move forward.
A good comprehensive program such as the Train To Be a Life Coach certification program at the Women’s Coaching Academy will not only teach you how to coach but will also teach you how to set up your coaching business.
The Pros of Becoming A Coach
One of the things I love the most about coaching is the ability to generate income in so many different ways.
Coaches earn income from: coaching sessions, group programs and retreats, speaking, books, tools and assessments, mp3’s, Ebooks, and so much more. The options for income earning are endless.
The average coach earns a minimum of $150 per hour (on the very low side).
Another huge plus is the flexibility to run a business on your own, create your own schedule while you fulfill your calling in life.
The Downside Of Coaching
The bottom line is just like anything else, you will have to work to make it happen. Clients don’t just show up for you.
You can reasonably spend the first year planting seeds and getting your name out there while you build your client base.
As a result, overwhelm and confusion often set in for new coaches because they often second guess their purpose and struggle with the business aspect of coaching.
Having a coach is imperative for a new coach. Having a coach helps save time, gain clarity and gives the shortcuts needed to get things going in your coaching business.
How do you get started coaching?
The first step in choosing coaching as an income strategy is to decide if you will get coach training and certification. (I suggest you do).
Remember, although coaching is not regulated there are things you will learn during training that will give the confidence to begin telling the world that you are a coach. Choose a coach training program that not only teaches you how to coach but also, how to launch your coaching business.
Next, you need to choose a niche that you will specialize in. There are way more coaches now than there were when I started eleven years ago, you need to stand out from the crowd.
From there you need to tell the world you are a coach! Begin offering free mini coaching sessions so that you can gain confidence and clarity.
Create at least one coaching package that includes a way for people to work with you over the next one month, two months, three months, etc. Working with you longer will allow clients to have greater transformation.
And finally, hire a coach to help you get sorted out. I spent at least five years spinning in circles when I could have just hired a coach and been on my way to earning more sooner.