Do you want to know how to make money as a life coach? If yes, then this article is for you. It highlights the best-proven ideas to become successful.
A life coach is a person who helps others with life problems, especially in dealing with personal or professional issues. A life coach generally deals with all aspects of everyday life, including improving health, building self-confidence, and achieving goals.
The end goal of this article is to create something that will bring value to others and be profitable in the long run, both to the reader and myself. By reading this post you should gain concrete action steps to make more money from your career as a life coach.
1. Host Seminars
You can host seminars to make money as a life coach. This is one of the most widely used methods people use to make money as a life coach. Furthermore, they can also help you build your business.
You can make money as a life coach by hosting seminars on the subject of personal development. Post flyers around your area, and then go to grocery stores, libraries, and clubs to hand out flyers.
Another option is webinars. Due to various reasons like location and age, some people might not be able to attend real-life seminars. This is where online seminars (webinars) come in. By doing this you’ll reach a wider audience group and you’ll be able to prepare for your presentation.
SEE: How to make money with webinar
2. Write Personal Development Books
Most life coaches write personal development books to make money from their business, whether it’s a full-time business or a side business. In fact, there are thousands of personal development authors who make a very comfortable living selling books online.
Self-help books are very popular with people looking to learn more about how they can solve their problems. You can also write your own life story or how you became a life coach.
There’s a good chance that if your target market is interested in building a meaningful life, then they’re going to be interested in reading books on the topic. After the book is written, you can approach publishing companies, book distributors, and websites with demo chapters of your book for feedback.
SEE: How to make money as a writer
3. Sell Information Products
Being a life coach and making money as a life coach just got easier. Information products are digital products such as ebooks, audio, videos, or software that will supplement your coaching. You can sell these info products via your website, social media platforms, or through other digital marketplaces.
Life Coaching has become a very popular and powerful business model, and there is a great demand for life coaches. The only problem is those good coaches are hard to come by. A cheaper solution as a life coach is to sell the information product that teaches others how they can become a life coach as well.
A lot of coaches use pdf ebooks as their information product. Since you will likely know more about this industry than most people, it will be easier for you to create a quality information product for this market.
SEE: How to make money selling information products
4. Look Beyond One-on-One Life Coaching
One-on-one life coaching is a very popular form of life coaching, and it may be how most people envision life coaching. However, there is more to it than that. While this is the best place to start as a life coach, there are many other opportunities out there to build your practice and make more money.
As a life coach, you can help individuals, but you can also transform communities. For example, you can teach fitness classes. You can lead workshops at retirement homes. You can counsel groups of drug addicts.
Building an effective life coaching business means becoming a resource available to clients whenever they need you. Some coaches find that running group programs or workshops keep them visible and paid even when their clients aren’t having problems.
5. Paid Membership Programs
Life coaching is a fairly new profession. Many individuals are willing to pay for their coach’s time, advice, and expertise. One easy way that you can start this endeavor is by signing up for membership programs that charge individuals monthly dues for coaching.
This is for people looking to build a more steady income that comes from coaching sessions. Membership programs can bring in passive income if members pay over time rather than all at once. It takes less involvement to run the program, but also requires someone to take on the lead role.
You don’t have to become a member of each program you come across; but rather search online to find the most reputable ones. Join up with any number of these programs and make money as a life coach today.
6. Become a Consultant
Every day, thousands of people look to life coaches for guidance. If coaching is your business, you can turn your talent into profits by becoming a consultant to individuals, organizations, companies, and other life coaches.
As a life coach, you can help people move past their issues, whether it is related to work or other areas of life. Ensure that you are caring and compassionately handling your clients’ issues.
Nonetheless, to make money as a life coach, the first thing you need to do is build trust. Trusted coaches are always in demand—and the most trusted coaches are often those who have client proof they can deliver value to others. A trusted coach can be seen as an expert with the authority to teach others.
7. Teach Classes At a Local Institution
A life coach can make money by teaching introductory and more advanced classes. If you’re a successful life coach, then you should be able to get invited to speak or teach classes at various business and career institutions in your area.
Life coaching makes use of renowned coaching skills to help people solve personal problems. This can come in various forms, such as teaching classes at a local school or running seminars for life coaches in training.
Most institutions are always looking out for experts, so this is a great option if you have experience in developing courses.
8. Consider Passive Income Ideas
Many people are pursuing a life coach career these days. However, you have to realize that there is a huge difference between being a life coach and being a glamorous, highly paid life coach. When you are just starting, it takes time to build your reputation and find your niche in this industry.
There are countless ways to make money with a life coaching business, but many of the most successful coaches—those who earn over $100,000 per year—focus on creating passive income. Below are some passive income ideas to make money as a life coach.
SEE: Best second job ideas to max your monthly income
Earn cashback for shopping
If you are a life coach that likes to shop online, many great stores offer cashback on your purchases. Some of the most popular are Ebates, TopCashBack, iBotta, and Reebok. With these programs, you can earn cashback when you shop.
What’s great about these programs is that they will pay you cash for items you probably already buy, such as groceries and gas.
SEE: Best Cashback platforms to earn money for shopping online
Let companies advertise on your car
With millions of cars on the road in the US, advertising on your car is a great way to make money and generate passive income as a life coach. As a professional life coach, you have a great deal to offer companies.
Many companies such as Carvertise or Wrapify would be happy to advertise on your car to promote their business or increase their brand awareness. In exchange for the ad space, you can earn a passive income from the advertisement.
As a means of demonstrating your level of success in life coaching, this is a great way to showcase your ability to help others in a tangible way that makes a difference in people’s lives.
SEE: Companies that will pay you to advertise on your car
Rent out unused space in your house
As a life coach, you know the value of a home-based business. In fact, many life coaches see themselves as coaches first and make their home their office. Rent out an extra room or part of your basement if you have one, or if you have a large home.
Every day, your house sits there empty while you earn no income. Even when you’re not at home, you still pay the mandatory mortgage payment, utilities, and upkeep costs. As a life coach, it would be extremely useful to have an extra room that you could rent to make more money.
Consider peer-to-peer lending
Peer-to-peer lending is becoming increasingly recognized as an excellent way of earning passive income. Life coaches can earn passive income through peer-to-peer (P2P) lending if they are willing to take a few risks.
P2P is the process of taking out a personal loan through P2P lending platforms from a lender to a borrower. You’ll earn passive income by collecting interest on your loans if you choose to be a lender. Although these loans are unsecured, you may risk defaulting on them because they are unsecured.
How Much Money Can You Make as a Life Coach?
Life coaches’ average hourly rate ranges from $75 to $100, depending on their experience. Several factors affect the life coach salary, but they work similarly to independent consultants. Typically, life coaches are employed by an organization or charge an hourly rate.
They earn their salary according to the number of sessions, fees generated, clients, expertise, and experience.
What do life coaches do?
A life coach helps individuals move toward goals in ways that are best for them. They are not therapists or mental health professionals. Life coaches work with their clients to: Identify and achieve life goals, Learn how to live a more fulfilling life, Enhance their sense of self-awareness.
As a life coach, you’ll help others develop and reach their potential in life. They work with all types of people including executives, entrepreneurs, global nomads, artists, writers, athletes, retirees, and more.
Should you coach full-time, part-time, or make it your hobby?
There are many reasons why people choose to be life coaches. As a personal philosophy, I believe it should be about helping others while helping yourself to make a difference in the world while creating income that supports you.
So, if you are considering doing this full-time, part-time, or as a hobby, please consider how that fits into your lifestyle. As with other kinds of businesses, you must be authentic in how you apply your skills, both in coaching and dealing with administrative duties.
What are the requirements to become a life coach?
Being a life coach does not require any special skills, other than a desire to help others and the ability to pass on those skills. Although certification is a popular option for life coaches, it is not essential.
Life coaching might be the right career for you if you feel passionate about helping people, improving their lives, and possess a skill that can benefit many.
Life coaching is much more than personal development. It is a profession that focuses on supporting, assisting, and challenging us to improve our lives as individuals as well as professionals.
This article details the top ways to make money as a life coach. It is not an exhaustive list and is included to give the reader some ideas on how he/she can generate income from this career.
One of the past ways to make more money as a life coach is thinking of ways to generate passive income alongside your passion. There is an article on the blog titled “best passive income ideas”. You might find something worth trying out. I recommend you take a look.
Another option to make money as a life coach is to start a business. See creative small business ideas for more information on how to turn your imagination into money. Your business ideas can be found on Tosinajy, and they include several possibilities.
This blog is geared towards helping people improve their financial situation in all spheres of life. The blog offers guides for making money, business ideas, and software that will help you to be more efficient and effective.
Feel free to explore the blog. Thank you for reading.