230 How to Start (&Grow!) a Successful Coaching Business in 2022
In this episode, we’re going to describe how you can start a successful coaching or consulting business this year!
Did you know it’s one of the fastest growing industry?
Tune into the episode…
This podcast describes how you can start a successful coaching or consulting business this year!
Did you know that coaching is one of the fastest-growing professions in the world?
In 2022, the coaching industry is expected to be worth $2.3 billion! If you're looking to start a successful coaching business, now is the time to do it.
Here are just a few of the reasons why you should start your own coaching business this year:
You can be your own boss - One of the great things about being a coach is that you can be your own boss. You can set your own hours, work from home, and make your own schedule. This gives you the freedom to work around your other commitments and create a lifestyle that works for you.
You can make a difference in people's lives - As a coach, you have the opportunity to really make a difference in people's lives. You can help them overcome challenges, achieve their goals, and reach their full potential. This is an incredibly rewarding experience that can bring immense satisfaction.
You can earn a great income - Coaches are in high demand, and if you build up a successful practice, you can earn a very healthy income. This means that you can live the lifestyle you want and enjoy financial security.
If you're not sure where to start, there are plenty of resources available to help you get started, including books, online courses, and even business & marketing coaches like myself who can help you launch your business or grow it from Half-Booked to Fully Booked.
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On this week's podcast, we're looking at how you can take your business from partly booked to fully booked. I want to help you to easily hit your monthly income goals and work the amount of hours you desire. By the end of this workshop, you're going to understand the exact four part framework for instantly simplifying your business. You're also going to learn how to increase your prices and become the most valuable choice in your industry. If you're listening to this episode in 2022, well, you're probably listening to the me of the past, but these tips will still be relevant.
To save a spot in our next workshop. The first one is happening on August 25 2022. I want to remind you guys, if you have not signed up for the become fully booked workshop.
In 2022, alone, the coaching industry is expected to be worth $2.3 billion. We are living in this day and age where people are selling their knowledge. And it's an incredible opportunity, I am certain you have paid someone to learn about their process for growing Instagram. These are people who are part of the knowledge economy. If you're passionate about helping others reach their potential, or if you have a wealth of knowledge or skills or life experience, then starting your own coaching business could actually be the perfect next step for you.
One of the great things about being a coach is that you can be your own boss, you set your hours you work from home, or work from a workspace. And you also get to make your own schedule.
You need to identify a niche and build a strong foundation of knowledge in your area of expertise. You need to be able to clearly describe one problem that you're solving for one type of person. Next, you're going to need to create the system for delivering your services. Is it live coaching? Is it a group or one on one format?
Or their workbooks? What milestones are they going to achieve every single week? Once you know what you're selling and you know how to position it, you need to put a marketing plan on top right. For many of you, you're actually going to be delivering this service live or coaching people to do it themselves. So there's a lot of face to face time, which allows the price to be a little bit higher.
If you're not willing to go through the highs and lows, there's no reason why you shouldn't choose another industry to be a coach. I do not believe in showing up to calls with anything less than 110% energy because it's not fair to your clients. Take your client delivery seriously because an unhappy client is the worst marketing for your business. The last thing you want is for somebody to feel your personal shit through your work, right? They're not afraid to wear all the hats, especially in the early days that goes for doing the marketing, getting on sales calls and embracing it doing content creation and learning about new platforms.
Don't be scared of that. Embrace it, embrace it, you're not going to know everything and you're going to have to ask people for advice or help.
You could earn $100,000 working from home or make an extra 5000 a month with this one easy trick. So before you decide to go full time with your coaching business, it's important to know what you're getting into. How much does the typical coach or consultant make? Is it really worth the investment of time and energy to get your business off the ground? Starting a coaching business isn't going to mean you're going to earn six figures right away.
But I want to give you kind of a snapshot of how you can make it work. One option while you're starting your coaching business, is to work for other businesses in the industry and do some consulting or freelance work for them. This can be a great way to earn extra money while also gaining valuable experience building your network.
If you want to leave your full time job but still need a part time gig, get creative and explore what's out there. By teaching a small workshop, people can actually get a sample of who you are and what you do. And then they might decide to invest in your bigger package down the line. These experiences at workshops lead to paid clients more often than you think. At the time, I was making a full time salary and working part time on my coaching business.
Once I started to make between five and 10,000 annually from my coaching firm. That is when I felt like I had some solid proof that I was onto something and that by next year, I could be earning double or triple that. I was living in Toronto, which is not a cheap city to live in so I was considering contract gigs, freelance jobs.
When I came to about 50,000 in annual revenue, I was starting to think that I needed to go all in on my business. So I quit my job, but I picked up a ton of part time jobs that I could do on my own time. And I found a bunch of social media clients taught the fitness classes, and again had the network marketing company. So that's kind of a little overview of how it all worked. If anyone is curious, you can definitely reach out to me on Instagram, I will say, much as I am an adventurer, a risk taker.
I want to keep it real with you guys and show you that with the techniques I'm going to teach, you can get to fully booked, no problem. But you also need to be reasonable based on how big your network is. And if you're just like, coming out of nowhere saying oh, by the way, now I'm a coach, or now.
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