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How to become a life coach
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| PART 5 Generating Income As A Coach This time we are going to look at the income streams of a Life Coach. Now I am not saying that you must do all of these, but they will give you a great idea of how you can make money as a Life Coach. I have worked with literally scores of Life Coaches to develop a product mix that will make them some money and I have to say as it currently stands personal coaching alone counts for about 25% of my total income. So what does that mean? Well, that means that 75% of my income is derived from other sources other than personal coaching – learn this lesson before you start your business!
By email, by the phone and in person 1 to 1 executive/business coaching Very lucrative deals available for BIG MONEY! Group coaching, by month In a classroom environment. Charge between £5 - £20 for 3 hours and get between 10-30 people attending Lead your own TeleClasses A teleclass is group coaching on the telephone. Using a conference phone you schedule a call with multi-people at a time. You don’t have to buy any equipment for this. Check out www.meetingphone.com to see how it works.
If you are a natural ideas person why not come out with your own products and services and sell it to other people? I have got a number of reseller programs that I have created and licensed – www.confidenceworld.com Mentor other coaches You will probably not be ready for this just yet! I make a lot of money out of this as I am a popular mentor and trainer of people who want to become a Life Coach and already established Coaches. You must be able to get results though to make this pay.
Either get paid for your speech or use it as a way to build up contacts and better known in front of groups. You usually pick up some business from every speech or talk that you give.
I haven’t adopted this yet but some coaches are making thousands through selling assessments like MYERS BRIGGS or SDI online.
An obvious one! Need to be established though and print worthy.
Great way to make passive revenue. Select a topic that people want, write it and sell it on the net! Check out www.success-ebook.com
for an example of mine. Conduct local seminars/workshops Either book a meeting room in a hotel (can be costly) or in your local college or school and run a seminar Set up a speciality training company or program Lots of money to be had in training! I offer training courses www.beingasuccess.com/training.htm (£800+ per day) and also online courses like this one that I write myself (£9.99+ each) Start an unrelated company using what you learned as a coach Turn an interest into a money making project – practise what you preach! I turned www.confidenceworld.com into a money making project.
There are no geographical boundaries. I make money from around the world whilst I sleep!(in your area of knowledge/expertise)
Create/sell audiotapes, CDs
Teach a webinar type course
Write articles
All you need to decide is WHAT and WHEN depending upon your experience, resources and support structure. See you next time! Sean
Next time: PART 6 Building a full or part time business
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