5 Key Rules for Making Money as a Life Coach
A career in life coaching is very exciting; you get paid for helping others. This is just the best feeling. As a self employed life coach, you control your hours, your hourly rate and the amount of work you take on, creating the perfect work-life balance.
THE PROBLEM is, most coaches fail to be a financial success. To be a successfully self employed life coach, you cant simply be a good coach, you also have to know the key rules for making money as a life coach.
You can book an interview coaching session and/or a Mock Interview with an interview coach by e-mailing firstname.lastname@example.org
Rule 1 – Charge More
This may sound ridiculous! But the psychology behind rule 1 has been proven a thousand times. People associate quality with value. The more you charge, the more you will be perceived as a quality coach and clients want to book sessions with coaches that they believe will be able to help them…quickly.
If you are not securing many client bookings or you charge under £50 per hour you need to up your rates.
Rule 2 – Niche
Don’t offer a general coaching service, instead specialize, become coaching niche, and be known as an expert. People listen to those seen as an authority, and clients will book coaches who specialize in their problem.
It makes perfect sense – why pay the same money to a general coach who knows a little about everything when you can book a coach who is an expert in the field of your barrier?
Rule 3 – Make Money While You Sleep
Its simply not enough to make money through your coaching service – the maths doesn’t work! Instead you need to generate a second income by doing nothing, make money while you sleep, create self generating profits.
This is the secret that successful coaches keep close to their chest. Use affiliate schemes such as The Coaching Business in a Box to generate money to pay your overheads while giving you a nice profit, as this leaves the money you generate through coaching as pure profit.
Rule 4 – Offer Discounts For Bulk Sessions
Psychologist have found that the human mind automatically makes comparisons at a speeding rate. When a client looking to book a sessions see’s the cost per session they will automatically compare this to any “bulk offers” working out the amount of money they will save.
You see this all the time in supermarkets “buy 1 get 1 half price” This is a proven tactic that works. If you don’t already start to offer bulk discounts and watch as your bulk session purchases increases overnight.
Rule 5 – Add Adsends
Another way to make money while you sleep is through Google Adsends. You may have seen these on the millions of websites you visit. Google will advertise products and business on other peoples websites.
Every-time a customer clicks on this advert (known as Google Pay Per Click) Google get paid – this is how Google makes their money. If you allow Google to advertise their pay per click on your website through Google Adsends you will receive a percentage of the money Google earn
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