Starting Your Own Coaching Business – Today I’m sharing the exact steps I’ve used to help thousands of students build their own online business (even from home).
Whether you’re looking for a flexible schedule, a more fulfilling career, or more income, there’s never been a better time to quit your 9-5 and set up shop as an entrepreneur. Intuit estimates that in the coming years almost half of the employees will be self-employed. And no wonder: by reaching your potential clients online, you can immediately start selling your coaching services.
Starting Your Own Coaching Business
Ready to find out if starting a coaching business is right for you? Let’s dive right in.
Life Coaching For A Living Ebook By Duane F. Wilson
A coaching business is simply a business where you use your expertise, advice and guidance to help people transform their lives.
And training is something most of us can do. After all, there are coaches in almost every sector:
If you want to replace your 9-5 income with a job, coaching is one of the most powerful alternatives.
There is simply no more efficient, effective or effective way to replace your salary as you transition from employee to entrepreneur.
Start Your Own Coaching Business
I should know. In the first four months after I started my digital advertising agency, I made more than six figures. This allowed me to transition comfortably into full-time entrepreneurship.
With a coaching business, you target a handful of clients with a premium package instead of trying to raise $7,000 in sales like a traditional e-commerce model.
Let’s say you pay $2,000 for your coaching. (Does that number sound high? Be sure to read my pricing chapter.)
In fact, I was able to grow my own business to over 7 figures in the first 12 months.
Become A Life Coach [guide For 2023]
At the same time, you can create lasting relationships with the people you serve and can actually change their lives. (Try getting that into your day job!)
Ultimately, this will help you grow your business with online courses. And that’s not all. You can add other offerings to your business, such as group programs, workshops, and retreats. Even books and talks!
Here I am speaking at the 2018 Gary Vaynerchuk event in London. The possibilities are endless!
It is more than possible for you to turn your existing skills, talents and hobbies into your own profitable business. But you have to stay laser-focused on the right things instead of pulling yourself in a million directions. (And by the end of this guide, you’ll know exactly what to focus on.)
How To Start A Coaching Business From Scratch Ebook By Arx Reads
One area where I see that so many would be entrepreneurs are derailed is thinking that they need to get certified to start a coaching business.
But what I do have is over 10 years of business experience in various industries and a track record of helping thousands of students in over 20 different industries build successful online businesses.
Here’s how five of my clients use their experiences and skills to sell their coaching and consulting offerings.
My client Ruby Le draws on her past experience working with companies like eHarmony and It’s Just Lunch to help high-quality men attract more dates.
Expert Guide: How To Start A Coaching Business (2022)
My student David Alsieux teaches people how to use herbs to manage their health, skills he gained after a personal family health incident.
My student Sanae Floyd started her business and grew it to 5 figures a month by drawing on the decade she worked in sales.
Emily Liou has used her experience as a recruiter for Fortune 500 companies to develop a career coaching company that helps people find fulfilling jobs.
Contrary to what most people think, this is not about designing the next Facebook. Instead, use what you already have.
How To Start A Coaching Business Online: 3 Successful Tips
This job is not my first rodeo. Before I started teaching people how to start their own online business, I had a few hustles of my own in different niches.
First, I cut the counseling business down to 6 figures. (I stopped this because I realized that I didn’t want to spend the next two decades of my life thinking about the same things I spent my first two decades obsessing over!)
Next on the list? Excel consulting (too boring for the long term), followed by a short but rewarding stint as a career coach (closer to what I wanted, but still not my passion).
The hustle that allowed me to replace my salary? I am taking my digital advertising skills and starting a digital advertising consulting business.
The Coaching Business Revolution
Curious to know how to turn and find the perfect niche immediately without having to go through these same obstacles?
Coaching business ideas are literally everywhere, but if you don’t follow a formula that works, it will be more like throwing spaghetti against a wall than a recipe for success.
At the end of the day, starting your own online coaching business is all about solving problems and providing solutions. You already do this on a daily basis in your day job. Now is just the time to get paid by your clients instead of your employer.
You just have to choose the best idea for yourself and here below I am sharing how you can do it now.
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Maybe you are good at promotion. Or maybe you lost weight. Or you’re great at automating your savings.
Are you a copywriter? Or a cook? Or an executive assistant? These (plus so many other skills) are the skills you can use to start your coaching business.
Do you like running? Or sing? Or are you a member of Toastmasters and do you know how to give a great speech?
Which idea is similar to what you do in your spare time? It’s an idea you’re probably pretty passionate about.
A Checklist For Setting Up A Successful Coaching Business
For example, if you search Google, YouTube, Facebook groups, Upwork, or any other platform, do people offer similar services? Are people looking for help with what you want to offer as a coaching service?
It’s a great sign that there is a market for your idea and that it has the potential to be a profitable niche.
The last step is choosing a name. Fortunately, thinking about learning business names is actually easier than you think.
I always encourage my students to use their first name (). If you have a more common name, just add “coaching” or “consulting” to the end (Coaching.com).
How To Start An Online Health Coaching Business
But that will only keep you. We need to be much more strategic and ensure your business is positioned for success.
Here’s how to do it with a real, profitable business plan (and yes, this comes WAY before your website).
Instead of offering career coaching, you help young professionals advance in their careers at 2x the usual pace. Intriguing, isn’t it?
Use the next 20-30 minutes to come up with your solution and offer. Then proceed to the next step.
Start Your Own Coaching Business From Home
It’s heartbreaking to spend so much of your barely existent free time building your dream business only to find out that the people you want to work with can’t afford to hire you.
Save yourself the pain and choose a market where there is money or you will be giving yourself a very expensive hobby, not a job.
If youare a career coach targeting recent graduates, you will have a hard time selling premium coaching packages.
But if you’re targeting people who have been in the workforce for at least a few years? It is a brand with the ability to pay.
Three Essentials To Starting A Coaching Business
3. Make an offer that allows you to replace your salary while working with a small number of clients
Most online coaching begins with a one-on-one model, where you work privately with your clients to help them achieve their best possible results through customization and support.
By working privately with a client, you can charge a premium because you bring your own experience, time and support.
The reason you can pay a premium for this is not because your brand is interested in paying you what your time is worth.
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No, your clients pay a premium to get the best possible results in the shortest possible time (within reason).
So your online coaching can replace your salary with a small number of clients… And you can finally leave your 9-5.
So I was able to replace my 6 figure salary after just four months of running my digital advertising business.
Fair warning: if you’re in this business to make a ton of money overnight while providing little to no value to anyone else, it will absolutely catch up with you.
How To Start A Coaching Business: 11 Steps To Success
The results you can get your customers and the transformation you deliver will determine whether your business will work, so keep your focus on your audience and keep refining your offering as you grow.
A good rule of thumb for new trainers is to create a 3-month package where you support your client with weekly or bi-weekly calls.
You can price your package around $1,500 and even offer monthly payment plans if you want a steady income.
I advise most of my students to quit their day jobs after they earn 2x their monthly salary so they can ensure they have enough money for their business expenses and taxes.
Starting A Successful Online Coaching Business: 7 Best Practices You Must Follow
Thanks to your premium offer, you don’t need as many clients to get there. (That’s also the reason why I don’t work
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