And when you create passive income streams around your coaching business, it can be downright lucrative. This may seem a little intimidating, but it doesn't have to be. Coaches like you are generating passive income at every stage of their careers. Create your own coach training school, train and certify people to become coaches.
Training other trainers is without a doubt the most lucrative way to earn money as a coach. You can include it as part of your training or offer it as a separate program. You can certify life coaches or coaches in other specializations. Check out our program on how to start your own coach training school.
I run a coaching and consulting firm dedicated to helping women achieve progress in their lives and in their work. Every year I meet thousands of people who want to reinvent themselves, many of whom are considering launching a coaching or consulting practice or other small business of their own. They yearn for the transition to training for solid reasons, and many have a wealth of first-rate experience. As a professional consultant, I help people assess whether launching a training practice or other company seems like a feasible step to them, first by conducting a thorough evaluation of their goals, abilities, preferences, personality, values, mission, purpose and long-term plans.
As my book publisher, Patti Danos, asked me when I was launching my book Breakdown, Breakthrough, I ask my customers: “What do they want and what do they really want by doing this? Now, however, in these very challenging times, I ask this new question: “Are you prepared and able to do whatever it takes to make this successful? Are you 300% committed? This week I realized something that seems like a real “ha” to me: training is for a group or culture that is at the highest level of Maslow's hierarchy of needs, the level of self-realization. However, today, our economic struggle has led millions of people (us) to lower several levels of the hierarchy, to the level of “security”, so that they now focus mainly on financial protection and security. Get powerful with your money today, don't wait any longer. Get to know your financial situation in depth: what you need to earn, what you spend, what you can cut back, how you'll finance your reinvention, and so on.
Hire a good financial advisor to help you resolve your situation and set realistic and ambitious goals. Get out of denial and strengthen your finances. Get training and education: nothing moves us forward faster than powerful training and education that help us to be and know more than we know today. Coaching training and developing business skills are absolutely vital in teaching you how to be the best coach and business owner you can be.
Develop a solid business plan with concrete marketing strategies. Find an excellent non-profit organization (such as SCORE, the Women's Business Development Center, or Count Me In) in your area that will help you create powerful business and marketing tactics, and a plan to make your company successful. To learn more about how to build a successful training practice, download my free report The 10 Most Crippling Mistakes New Coaches Make here. That's good common sense advice Thank you Kathy Caprino, M, A.
She is an internationally recognized professional and executive success coach, writer, TEDx and keynote speaker and leadership trainer dedicated to the global advancement of women. She is a senior contributor to Forbes, one of the main sources of communication about women's careers, and founder %26, president of Kathy Caprino, LLC and of the online training course The Amazing Career Project, which helps women develop successful, passionate lives and important careers. My customers have lost 80 pounds, created dream businesses, such as opening their own brewery, fell in love and bought houses, and are basically taking a beating in life. And yes, you may be moving away from what you learned in training school (the most successful life coaches I know don't only train ONLY), but you'll also accelerate the success of your business by taking advantage of your strengths and personality.
You can hold live webinars once a week, once a month, once a year, four times a year; you decide. Since life coaching is a more streamlined sales process (you don't need to convince tons of people in human resources and hire through a large company) and cheaper for people to buy, it's sometimes easier to get customers. It gives you practical steps you didn't learn in life coaching school to help you get clients faster. Not everyone can figure out how to make it work and not everyone wants to be life coaches when they realize what's needed.
There's a reason why no one has created a corporation full of life coaches who make billions of dollars in profits a year. For example, teach people how to discover their purpose in life, start a business, become millionaires, lose weight, live the life of their dreams, and more. The other (hard) truth is that any tangible skill is about 10,000 times easier to market than training, so, for Buddha's sake, don't abandon them completely to become a life coach. Because there are things that they don't tell you in coaching school about how to start a life coaching business (or any business for that matter, but let's focus on life coaches, because it's often you who have such big hearts and dreams and are often the ones who are most defeated by the reality of running a coaching business).
In addition to that (I am ashamed and ashamed to admit it) I have been sweetening business life, as if by not telling anyone that everything is not all sunshine and rainbows immediately, when I started. Whether you're looking for a side job or a complete professional renewal, life coaching offers possibilities geared to your passions and interests. Self-paced training programs are another great way to earn passive income as a life coach or as a personal or professional trainer. .