Why NOW is a Great Time to Start Your Coaching Business

Are you looking for a rewarding career? A job where you can actually say that you love what you do? One that’s easy to get started in? And has endless opportunities?

Introducing…coaching!

Coaching is a career that can offer tremendous benefits and is easy to get into. It’s also a field with rapidly increasing demands, which is why right now is the perfect time to get started. 

Read on to find out more about what a career in coaching can do for you!

What is a coach? What do they do? 

A coach is someone who comes alongside another person to help them in a certain area of life, whether that’s in their business, health, or even their personal life. 

A coach helps clients figure out how to make changes so they can grow. This results in their client’s life heading in the direction they want it to go. 

Coaches also support people in becoming who they want to be, and they help them unlock their potential to maximize their performance in a specific area of life. 

Benefits of being a coach

There are many benefits of starting a coaching business. It’s a great career if you want to love what you do, have a flexible schedule, and enjoy lifelong success. 

Satisfaction

Have you ever heard the saying, “If you love what you do, you’ll never work a day in your life”? 

Many coaches feel that way about their career. They love what they do because they feel good about what they do. They enjoy supporting and encouraging other people to be all they were created to be. 

And not only are coaches happy with what they do, but their clients are pretty happy, too. 

A study found that 90% of individuals and companies who hire a coach are “satisfied or very satisfied”. And 96% say they would repeat the process! Another study found that coaching has a 221% ROI (return on investment) for clients! 

This means that as a coach you’re not only making your clients happy, but you’re also providing tremendous value to them. 

And how could you not feel great about working in a career like that?

Flexibility

As a coach, you have the flexibility to set your own hours and work from home. And if you have any concerns about trying to coach online, rest assured that online coaching has become quite popular. 

In fact, face-to-face coaching decreased after the pandemic by 74% – a steep drop (which is to be expected). But because of this decline, online coaching has increased by an enthusiastic 57%. And online health coaching was found to be just as effective as face-to-face coaching.

Because the market is so open to online options, it is easier than ever to start an online coaching business – all while setting your own hours and working from home.

Success

The idea of loving what you do and having a job that is flexible might sound great to you. But you may still wonder, “How much can a coaching business make?”

The sky’s the limit! 

The estimated global revenue from coaching in 2019 was 2.84 billion USD, and the average annual income from coaching is $62,500. But keep in mind this figure is completely dependent on each coach’s performance. 

Many coaches can run a 6-figure coaching business – or even multiple 6-figure businesses. And some coaches even enjoy running 7-figure businesses (including many of my students and clients). 

How to get started as a coach

Enjoying what you do and being able to work anywhere while making a decent income sounds great, right? So now you’re wondering, “How do I get started?”

There are a couple of questions you need to answer before you get started as a coach. 

First, what kind of a coach do you want to be?

To figure this out, make a list of all your strengths and all the areas you have some expertise in. Think about what your family and friends ask your advice for. What do others say you are really good at? What are you really interested in? 

Answering questions like these and looking at the following coaching business ideas can help you get an idea of what kind of coach you want to be.  

Life Coach

As a life coach, you can help people with many different aspects of their life and have the satisfaction of knowing you are helping them make positive changes. In fact, 80% of life coaching clients say that they improved their self-esteem or self-confidence thanks to a life coach.

That is something to feel good about! 

The following list is not exhaustive, but it should give you a good idea of how many different kinds of life coaches there are:

• Personal Coach
• Relationship Coach
• Family Coach
• Parenting Coach
• Marriage Coach
• Spiritual Coach
• Enneagram Coach

Health Coach

Do you want to help people improve their overall health and enjoy a better life? Working with a health coach helps people increase physical activity, manage weight better, and can even help improve mental health. 

One study found that people are more likely to lose weight when they work with a professional health coach rather than an informal method of peer support. Another review of 13 studies showed that health coaching improved the management of chronic diseases as well. These studies also found that coaching produced positive effects on the client’s social life as well as their psychological, physiological, and behavioral health.

As a health coach, you might help clients in the following areas (or any other health area you have expertise in): 

• Wellness Coach
• Fitness Coach
• Nutrition Coach
• Personal Trainer

Business Coach

You might be wondering, “Why is coaching good for business?” Well for starters, one study found executive coaching had a 788% ROI! This was all due to coaching that lead to strategic improvement in key areas like productivity and employee satisfaction.

Not only that, but 61% of clients reported improved business management skills thanks to the help and support of a business coach.

If you have expertise in the business world, starting a coaching business is a great idea because many companies are discovering the amazing benefits coaching can offer. 

As a business coach, you should start in a field where you have expertise. Here are some ideas:

• Finance Coach
• Sales Coach
• Executive Coach
• Career Coach
• Workplace Coach

Second, what training do you need to be a coach?

Once you’ve narrowed down what field of coaching you want to get started in, it pays to look into some training and education in that area. You can’t teach what you don’t know.

It might also be helpful to look into certifications for your field of coaching. Certification is not always necessary but it does offer additional credibility that helps potential clients believe you have enough expertise for them to spend their hard-earned money on your coaching services. 

And keep in mind, if you want to run a successful coaching business, you really need to invest in yourself. 46% of clients find their coaches through referrals and word of mouth, which means you need to know what you are doing so that you can coach your clients to the best of your ability. 

As your clients do well, they will refer their connections to you so your business can grow. And since the majority of coaching relationships last one year or less, referrals will help you continue to move along the path to success. 

Training, education, and certification in your field are great to add some credentials to your coaching business, but should not be the only training you look into. 

Many coaches hire their own coaches or take courses to help them with leadership training, communication skills, business and marketing, entrepreneurship, social media tips and tricks, email list marketing, sales funnels, and more. (My Passion to Profit course can help with many of these areas!)

Why NOW is the best time to get started

For the future coach who is still hesitant about getting started, here are some great reasons not to wait any longer to pursue your dreams! 

Low Overhead Costs

Right now is a great time to get started because coaching has really low overhead costs. You simply need a working laptop and cell phone to get started. Since you’re reading this article, I know you have the desire!

Social media and Pinterest make it super simple to promote your services for free or for minimal ad fees. And with online coaching and video calls, you can get started right away since you have the ability to reach clients easily. 

Another idea is to get started by coaching part-time or as a side job. And then you can work your way from employee to entrepreneur. 

High Demand

Also, right now many people are searching for guidance in both life and career. And coaching is becoming more and more popular as people discover its amazing benefits – remember that 221% ROI!

Endless Opportunities

Finally, there are endless opportunities for you to explore until you find your niche. So start exploring and building your clientele now!

You can start as a coach and then move on to write books, speak at events, create online courses, open up membership programs, and so much more. It’s a career where you can easily create multiple streams of income–including passive income–which will help your business grow and succeed. 

Coaching is incredibly rewarding. And no matter what interests you have, you can probably build a coaching career around them. When coaching, you can be passionate about your job while helping others grow. And at the end of the day, you’ll be able to honestly say, “I absolutely love what I do!”

How many careers can compete with that? 

And if you’re ready to get started as a coach, I have this awesome FREE social media for coaches planner! This tool will help guide you as you work to attract clients through apps like Facebook, Instagram, Twitter, LinkedIn, and more!