If you are looking for the best and proven ideas for making money as a life coach, you have come to the right place. Most people are dealing with some degree of personal or professional issues. The role of a life coach is to help them work through those problems. More broadly, a life coach addresses everyday life aspects including productivity, health improvement, and growth in self-confidence.
If you are looking for ideas about how to help people while earning a profit, you are likely seeking a life-coaching position. This post will provide a number of actionable steps to help you achieve a life coaching position, as well as to earn additional income to supplement your main one.
How to Make Money as a Life Coach
1. Seminar Hosting
One of the most commonly used money-making methods utilized by life coaches is hosting seminars. Aside from being potentially lucrative, they help to build a life-coaching business. These seminars can be on the topic of personal development. However, the public needs to be aware of them occurring to want to attend, so you will need to promote the seminars in places with a high chance of public visibility including posting flyers in your local grocery stores, clubs, and libraries.
While in-person seminars are more traditional, there is a variety of reasons why certain people who are interested in attending would not do so. However, webinar hosting is another option. By hosting seminars virtually, life coaches can expand the pool of audience that they might be able to reach with their session.
2. Personal Development Books
Whether a life coach runs a full-time business or a side hustle, many life coaches make money by writing personal development books. Some life coaches actually make a fully comfortable living strictly by writing books and selling them online. Many people have problems or issues in their daily lives that they are actively seeking to solve. Life coaches can offer a solution for such an audience to turn to. Life coaches sometimes also write about their personal journeys and what inspired them to take up their chosen profession.
Your target market is people that are interested in structuring their lives and making them more meaningful, therefore they seek out books on the topic to read. Once you have written a book you can provide a few sample chapters of your book to publishing companies or book distributors to garner the interest of sales. You can (and should) additionally publish through websites of major online services like Amazon and Barnes & Noble in ebook form.
3. Information Product Sales
A terrific way to supplement life-coaching income is to sell information products including e-books, videos, audio material, or software. These products are easy to market and sell through your website, various digital marketplaces, and social media. (Start with Thinkific)
Considering there is a high demand for such products, there is little reason for life coaches not to take advantage of them. There is, overall, high demand for life coaches, but quality life coaches don’t just drop out of the sky, they can be hard to seek out. Since life coaches can only do so much in person, they can offer a cheaper solution by selling their knowledge that not only help people in their lives but also teach other prospective life coaches the necessary skills of the trade.
Ebooks in pdf format are one of the most popular ways that life coaches publish such information. Since a good life coach is armed with tons of information, compiling and relaying it logically can result in a quality information product.
4. Don’t Stop At One-On-One Life Coaching
Most aspiring life coaches envision their practice in a one-on-one format, as it is the most popular. While it is true that it is certainly the best place to get started, many other opportunities exist for life coaches in terms of scaling their practice. Rather than help just one person at a time, for instance, a life coach can assist in a more communal transformation. This can be done in the form of counseling drug addicts, teaching fitness, or even hosting workshops in retirement homes.
The most effective type of life coach is one who is available to clients whenever he or she might be needed, but one person cannot be in multiple places at once physically. But they can reach a broader audience base by hosting workshops or group programs. This keeps a life coach visible to more clients, even when their regular clients don’t need assistance with any problems of their own.
5. Programs With Paid Memberships
By comparison to many other professions practiced by humans, life coaching is fairly new. As a life coach, one gets paid for their advice and their time, as well as their expertise in handling stressful or cumbersome positions. Some people are willing to pay a premium for membership to have more immediate access to their life coach when they feel they need assistance. This can help life coaches earn a steady and generally passive income.
Some programs hire life coaches to be part of them, some care should be taken when choosing which to join. While this means that the program requires less hands-on involvement, someone will need to take the lead in balancing the life coach’s time. Life coaches certainly don’t need to join every program they become aware of, but an online search can help filter the list of available ones to reputable ones. With that said, life coaches can certainly join a number of such programs and make passive income alongside their individual clients.
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6. Consulting
Thousands of people seek the guidance of life coaches every day. Life coaches may have their standard clients, but they can also leverage their knowledge, skills, and talents by consulting with individuals, fellow life coaches, companies, and organizations. Whether the issues being dealt with are professional or personal, life coaches can help people work through them. Consulting or not, however, a life coach should always focus their full attention on the issues of every client they are working with.
The first thing that a life coach needs to secure to make money in their line of work is trust, something that must be earned by clients by delivering value. It is through the testimony of satisfied clients that such trust is built, and trusted life coaches have no shortage of demand. Trust builds a reputation for being effective and helpful to clients and gives the life coach authority in their professional sphere, which, in turn, leads to more interested clients.
7. Teaching Local Classes
As noted earlier, life coaches possess valuable skill sets that they can impart to others via a class-based setting. The courses offered can be introductory or advanced in their nature. Successful life coaches get invited to teach classes or speak at various community and professional institutions regularly.
Life coaching is all about teaching people skills that help them resolve their personal issues. By teaching a class in this manner, a life coach can impart that knowledge to many students. Since educational institutions are looking for experts all the time, teaching classes is a great way for life coaches to earn additional money.
8. Leverage Passive Income Opportunities
Let’s be clear about something: being a life coach and a glamorous life-coaching superstar are two entirely different matters altogether. Most life coaches who are starting in their field require time and hard work to build up their reputations. That does not, however, mean that they cannot also make a healthy living. The secret is to leverage passive income opportunities when they are available. Someone that utilizes these well can set themselves up to earn over six figures annually.
Here are just a few ideas for passive income efforts for life coaches:
- Shopping Cash Back Earnings: Online shoppers can earn cashback bonuses for purchases with a number of programs including TopCashBack, Ebates, Reebok, and iBotta. The best part is that you can get paid cash for items you would be buying even if you were not participating in these programs.
- Advertise Companies On Your Vehicle: You have a great deal to offer companies by driving a vehicle alongside millions of others on the road. Many companies are willing to pay you to advertise their brand on your car. Companies like Wrapify and Carvertise make it a point to advertise a variety of brands on a vehicle, paying the car’s owner a passive income for helping their marketing efforts. As a life coach, by helping businesses advertise their products, you are, in essence, helping people earn money and show your ability to make tangible differences in their lives.
- Rent unused space in your home: If you have a large home or an extra room that you don’t use, you can rent out the space. Since many life coaches make their home their office, but perhaps there is unused space that can be an income supplement, yet it just sits there empty, not earning anything. Even when you are on the road or with a client, you pay for utilities, mortgage, and upkeep. If you have a room to rent for a reasonable purpose, you can do so to pull in extra funds.
- Peer-to-peer lending: A way that is becoming more prominent in earning additional funds is a peer-to-peer lending (P2P). Life coaches who are willing to take some risks can earn additional money with P2P lending, a process during which a personal loan is taken out through P2P lending platforms by lenders from borrowers. Those who choose to be lenders collect interest on their loans. The risk factor here is that the loans have no security, so there is always a chance of a default and the loan being lost.
How Much Money Can Life Coaches Make?
How much a life coach averages monetarily mostly depends on their experience. Generally, they can earn between $75 and $100 per hour. Other factors also influence their rates, but the job is similar to that of an independent consultant. In many respects, large companies employ life coaches for an hourly rate agreed upon by both sides. Other important factors that influence the total earnings include session volumes, clients, expertise, and generated fees.
What does a life coach do?
Every individual has goals and aspirations. Life coaches lend their expertise to help their clients achieve those goals. But unlike mental health professionals or therapists, life coaches work with their clients to set themselves up for successful goals, live fulfilling lives, and bolster self-awareness. Overall, the goal of a life coach is to help someone reach their full potential. This applies to many facets of personal and professional life spanning any type of background including executives, start-up entrepreneurs, world travelers, athletes, writers, artists, retired individuals, and many others.
Should life coaching be a hobby, a part-time activity, or a full-time career?
The most pertinent reason that people become life coaches is to do their part in helping as many people as possible make a difference in their lives and in the world, and earn an income while doing so. Of course, others have other reasons why they choose this career. However, whether one chooses to become a life coach for a hobby, a side hustle, or a full-time career, should largely depend on their lifestyle. The key to any of these methods is to be authentic an ability to deal with administrative duties that come along with this type of job.
What is required to become a life coach?
There are two basic requirements for being a life coach. The first is a desire to help people better their lives, and the second is to impart those skills to others. While there are life coaching certifications available, they are not required to begin working in this profession. If one feels passionate about helping people, has the skills that could help many people, and want to use them to do so, then a life coaching career may be perfect for them.
How to Make Money as a Life Coach: Closing Thoughts
Life coaching goes beyond personal development. It is a profession with a focus on challenging ourselves to improve the lives of individuals and professionals, assist them using our skills, and support them on their journey. While this is not an exhaustive list of ways for life coaches to make money, it is intended to give readers a starting point of how they can start generating income and scale it to develop a full-time career should they so choose.
Aside from strict life-coaching duties, a life coach can earn additional income by generating supplemental passive income. Many life coaches actually start small businesses using their vision of their life coaching career.
As a life coach, you’re always seeking new ways to inspire and help others achieve their goals. Our next article can provide you with winter business ideas that could help you boost your income and continue your passion for coaching. So, if you’re looking for opportunities to leverage your skills and make extra money during the colder months, keep reading for some valuable insights and ideas!
Frequently asked questions:
how much do life coaches make in California?
The average salary for a life coach in California is around $63,000 per year, according to data from Indeed. However, this can vary depending on factors such as experience, client base, and the services offered. Some life coaches may charge per session or package, and their rates may vary depending on their location within the state.
how to find your niche as a life coach?
To find your niche as a life coach, consider your passions, strengths, and areas of expertise. Determine the specific problem or challenge you want to help clients overcome, and identify your ideal client. Conduct market research to determine the demand for your niche and assess the competition.
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I’m Thomas, founder of Genie Dollars, a platform sharing proven strategies for making money online. With experience in affiliate marketing, print-on-demand, and freelance writing, I aim to inspire and guide others toward financial freedom through online entrepreneurship.
