Why is coaching the perfect business to start? Well, when I was in my corporate job and miserable, I dreamed of having my own business. I dreamed of it for 15 years before I did anything about it. And why? Because I really had no idea what I was going to do. I didn't know about different options for businesses. I honestly thought to have a business meant I needed to have a brick and mortar type of a business. And in fact, the first business I started was a brick and mortar business, a boutique, because I didn't know about the world of coaching.
Becoming a coach has changed the course of my life. I'm really not exaggerating. I want to talk about three reasons why becoming a coach and starting a coaching business can really be an awesome way to go all in on the pursuit of your purpose as well.
Listen to the Corresponding Podcast Episode:
1. Huge Profits
A coaching business has very little overhead expenses, so it's win-win when it comes to profitability, and the more profit you can create, the more choice and freedom you can have.
Let's go a little bit deeper in why coaching has such high profit margins. In fact, I went from 5% profit margins to 50% profit margins in making this switch. When I had my brick and mortar boutique, it was a women's clothing boutique. I was so excited. I was finally a business owner, but I quickly realized how challenging making money was in that space. And so I'm going to give you an example.
I used this in a reel the other day on Instagram, watch it HERE!
Let's say that I sold a pair of jeans for $110 at my boutique. The cost of those jeans for me to buy was $39. So you would say, “Okay, so I bought them for $39 from the wholesaler and I sold them for $110, that should be about $71 in profit.” <o, because you have to add in the cost of rent and staff. I had staff that ran the boutique, insurance, taxes, marketing. I would probably keep like $10 of the $110.
So, when I found coaching and I explored the business opportunity, I was actually floored with the profitability. And here's why.
A coaching business has very little overhead expenses. Let's say I charge $997 a month for one-on-one coaching. Let's assume 50% of that price is expenses, so taxes and some software to run my business marketing and having a virtual assistant. 50% in my bank account would be $498. With 20 clients, at $498 in my pocket, that's $10,000 months. $120,000 a year.
More profits means more choice and more freedom for you. Because when we are making more money, we have more choice.
2. Massive Flexibility
You get to decide how many days you're going to work, how many clients you will take on, which gives you incredible flexibility in how you grow your business in a way you want to, in a way that aligns to you and the rest of your life.
3. Incredible Impact
Coaching can create incredible impact. There really isn't more meaningful work on the planet. I mean, imagine being able to help someone change the course of their life to create deeper relationships, better health, happiness, wealth. I wouldn't want to do anything else. It is so incredible.
Most Common Questions
A question that I often get on becoming a coach is, “What would I coach on?” And honestly, I wasn't sure either, but I heard from a coach that I worked with that I should look at my own history and where I've been successful or where I've been proud of my progress. For me, back in 2018 when I was deciding what kind of a coach I would be, I really was extremely proud of the progress that I made with my older kids' dad on co-parenting. We are divorced and we co-parent like bosses and I had a lot to share on this topic. When I got my coaching certification, I decided I was going to coach divorced moms. After some time, I realized that my passion was really to help women love Mondays – TGIM – to love her life's work rather than working to live life. But I didn't get there until after I had successfully started my own business, and that’s totally OK. Life’s all about connecting the dots, right?
If you're not sure what type of coach you would be, that's okay. First of all, I can help you narrow that down, but I promise that there is an area of your life where you overcame a struggle. Many of our clients start by launching their coaching business as a general life coach, and then they gradually niche down from there. Being a coach is something you can learn, and I promise you, you'll be so glad that you did. And coaching is very simple.
Sometimes I'm also asked, “Well, what actually is coaching?” How I look at it is, coaching is helping someone see that they are ultimately responsible for the results they have had in the past and any result they want to create in the future. It's the biggest gift you can give to another human. Coaching is all about helping someone move forward to create future results that they want. I actually teach a process to those that are in my coaching certification program to do just that. How to guide someone to own their results and take action to create the results that they want, is really incredibly powerful.
Starting a coaching business is easier than you think. And who knows, maybe you're looking to start a profitable side hustle or maybe you are making a plan to leave the day job. Becoming a coach is absolutely worth exploring.
Seeing the Possibilities
I really believe that if you are in this place of wanting to create a business that gives you so much life, makes you feel so good about the work that you're doing and helping people change their lives, then you should really consider coaching. Whether you are in a day job and this becomes a side hustle, it's very lucrative and profitable, or maybe you already have a business like I did. I started my coaching business when I had my boutique, right? Or maybe you're in network marketing and you're looking to expand your revenue streams? Becoming a coach can be an absolutely amazing way to do that.
I'm going to be hosting an invite only session where I'm going to be showing how to become a coach. How you could literally become certified and start your coaching business and get your first coaching clients by summer.
If you want an invite to that session, CLICK HERE.
Fill out the info and I’ll email you your invite!
Do I Have to Be Certified?
The honest answer is absolutely not, no. It's a non-regulated industry. You do not need a certification. And is that good or bad? Well, it's a little bit of both. The good news is that anyone can be a coach. The bad news is that anyone can be a coach. And so while you don't need a certification to be a coach, I highly recommend it. Not for the certification status because that doesn't really mean much, but it's to learn how to be a coach. You've got to learn the process for coaching, methods of coaching, how to structure what you coach on. You want to be able to gain confidence in building your coaching business.
I have two certifications. I have one as a life coach and one as a mindset coach. We have coaches in our coach school that have gotten certified in wellness coaching or leadership coaching, and they enrolled in our mindset certification program anyway. And you might ask, “Well, why, if they're already a certified coach?” Because they started their wellness coaching business and not all their clients are getting results. Why? Because it's the mindset that matters. Coaches come and get certified by me to be able to help their clients get better results by using their mind. So, even if you might have a certification of some kind, do you have a mindset coaching certification that could help your clients get consistent results across the board? It’s really powerful.
Want to Learn More?
So whether you are already a coach in some area and you want your clients to get more consistent results, or you have really wanted to start a business or start another business that's highly profitable with a large impact, coaching is an amazing way to go.
I recommend that you also get an invite from me to a private session that I've got coming up where I'm going to walk you through our coach certification program and how you can be certified as a coach, and then launch and have your first clients by this summer. What could change in your life if you were making money as a coach? What kind of choice and freedom and possibilities would happen for you? It’s definitely worth coming and participating in this session.
To get your invite to the session, CLICK HERE!
Grab your spot. I will send you the calendar invite for the next session. Make sure that you do that because I promise you it is going to help you understand whether this is the right business for you.