It has been estimated that the industry of life coaching has grown to over a billion dollars over the past few years. Among the reasons why it has grown so much is that people are becoming more aware of the importance of living a fulfilling life rather than just existing. Life coaching has thrived as a result of this.
Are you wondering whether you can earn a living as a life coach in 2023? There is no doubt that the answer is a resounding yes!
How Do Life Coaches Make Money?
A life coach can help clients realize their life’s purpose, succeed in their dream careers, build loving relationships or improve their mental, physical and emotional health.
Coaching in a 1-to-1 Setting
One-on-one coaching is offered to your clients once a week or three times a month. Coaching your clients on their goals or problems. Create a plan of action for each session to help them get over their roadblocks.
Coaching in Groups
It’s like one-on-one coaching but in a group setting. Using this method enables a life coach to utilize their time and still be involved with a client’s life. Coaching groups can be very lucrative, but it also has downsides.
Motivational Speaking
Public speaking is one of the dreams of some life coaches. They rely on speaking engagements for their income. Courses and books are often sold in conjunction with speaking engagements. Although public speaking can be challenging, it is also very rewarding. Speaking engagements are usually taken up after life coaches build up a solid following on various social media platforms.
Courses
Life coaches earn a lot of money through their courses. Nevertheless, these are only effective if:
- you have a large audience that you can promote your courses to, or
- courses are commonly sold through an email list or social media following, so paying for advertising consistently is a better longer-term strategy.
Publish a Book on Personal Development
Writing and selling books independently has become easier thanks to the advent of self-publishing. Your expertise will be seen by people. Amazon, for instance, has a great service called Amazon KDP that makes it easy to self-publish books.
Educate and Certify Coaches
You can offer it as a separate program or as part of your coaching. Training other coaches are the most lucrative revenue stream for a coach.
If you would like to become a life coach, take the first step and enrol yourself in an accredited life coaching course. For more information, get in touch with Integrative Coaching today.