Brad Seymour wanted to start an Ale-by-Mail business while he was working as a Construction Supervisor. He took one step at a time. He researched the business proposition fully. While he was still at his day job he developed his business plan, built contacts, looked for financers, decided where he wanted to advertise and basically got his how’s and why’s ready.
He realized that he couldn’t live off his new business, at least in the initial stages. So, he saved six months’living expenses and then picked up a part-time job so he could devote rest of the time to his business. He worked slowly to finally refurbish his home so he could work from home. He timed his business development thinking about the impact of routine paperwork involved. To cut a long story short, Brad Seymour was well-prepared!
If you are thinking that you can make lots of money as a Life Coach, you are more wrong than right! Only Life Coaches with the largest exposure are taking home the dollars.
This clearly means that you are now entering an industry where only around 10% of the coaches are making 90% of the revenue.
Now then it doesn’t mean you can’t make a good living out of Life Coaching, because you certainly can. In fact you can easily learn the secrets that the top 10% use to make six figures and beyond.
In the order of importance, here are the tips & tricks (if you want to call them that) to becoming a high-income Life Coach.
* Your day job is your saving grace. Don’t give it up until you can afford to do so. It is best to start off part time and build up your business while you still have a regular income.
* Get yourself a mentor coach and pay them for training you in mentoring skills and how to build up a client base or both.
* Go beyond just coaching by offering products and other services. This is very important. You need numerous revenue streams of income to pay the bills, right?
* Build a website- the easiest and most accessible way to show your services and products.
* Find a niche. This is where the real money is.
* Keep a credit card payment facility available since maximum payments will come through them.
* Develop marketing skills! You may have good coaching skills but if you can’t sell your skills and get clients, there is no point in having those abilities, is there?
* Separate your business from your personal finances.
* You have to be passionate about coaching. If you are not, don’t do it. Working long hours in the initial days won’t suit you. You have to enjoy coaching.
* Creativity and innovation pays. Lead and produce new products and services.
If coaching is truly your life’s design then making a great living at it can be a piece of cake if you have the right ingredients before you begin to bake up your business.
Craig Miller is known as the Cake Coach, and he helps coaches learn how to have their cake and eat it too. If you want to accelerate your coaching business, then check out thecakecoach.com.