A life coach builds a business by helping others overcome challenges and achieve goals in their professional and personal lives. Life coaching is NO different from any other business when it comes to day-to-day administrative activities. The difference is that you'll be able to do what you like most of the time. And the more you do the other parts, the more customers will come in and the more you'll have more of what you like.
Business advisors are oriented to practical action for your company. If you're looking for someone to teach you the strategic and proven action steps you can take to grow your business, you may want to hire a business advisor. It's not a pyramid scheme and you can build a sustainable business without having to train other trainers. As a life coach, you'll work with people who are so determined to achieve their goals that they're willing to let someone into their lives to help them achieve them.
But wouldn't that be closely related to the umbrella of lifelong training itself? What more advice would you have about this niche? Other training associations are the International Coaching Association (IAC) and the American Coaching Association (ACA). Everyone deserves the chance to start somewhere, but an inexperienced coach can charge as much as an experienced coach. Because there are things they don't tell you in coaching school about how to start a life coaching business (or any business for that matter, but let's focus on life coaches, because they're often the ones with such big hearts and dreams and the ones who are often most defeated by the reality of running a coaching business). If 90% of your coaching sessions revolve around feelings, addictions, finding your purpose or dealing with parental guilt, I advise you to call a life coach, counselor, therapist, or religious leader of your choice instead of a business coach.
I have had numerous coaches (business, life and otherwise) in the eight years that I have been an entrepreneur and they have had a positive and significant impact on my life. Many people receive training as life coaches, receive their business license, and then wait at home for the phone to ring. Since The Good Alliance was founded, we have had the pleasure of working with a wide variety of life coaches. However, in my experience, many people want to use their business coach as almost a life coach to talk about how they feel and why they feel that way.
Okay, let me modify it a little: IT MAY BE a business, but it needs a few other things along with it to turn it into a business that actually generates money (because a business that doesn't make money is a hobby and I've seen a lot of fans of life coaching in my time). But can it be done? Or better yet, can you do it? Will you really make a living as a life coach or will you even grow big enough to retire early and live out your days by the pool, with a daisy in your hand? We'll examine the best available data on the average salary of life coaches, explore what differentiates successful coaches from those who end up failing, and then we'll look at whether or not life coaching is a pyramid scheme. If you're having trouble deciding if a business coach or personal trainer is the best option for you, take a moment to think deeply about your life and your business and where you feel most trapped.