Can you make money as a life coach? The simple answer is, yes. You can actually make a lot of money coaching and helping people to achieve their goals in life.
The fact is people from all over the world need coaches now more than ever. Due to this ongoing pandemic, we are all experiencing situations, decisions and emotions that we never expected to face in our lifetime.
And more and more people around the world are discovering the value of having a life coach in their life who can help maintain and improve their mental health and their life in general.
So how much money do life coaches currently make? Let’s talk about the numbers from a recent report made by PayScale.
How Much Can You Make As A Life Coach In Australia?
So how much can a life coach earn? According to PayScale as of August 3, 2020, the average life coach hourly pay in Australia is $80, while the top coaches in the country earn up to $155.34 per hour.
That amounts to earnings of up to $305,359 a year for helping people to discover the best versions of themselves. So not only can you make good money as a life coach, but you’re also making the world a better place one coaching session at a time.
Now obviously there’s a big variance in those numbers, and that’s because being a coach is more like being a business owner than an employee.
Plus, I know from personal experience that coaching is one of the very few business models where you can actually leverage your time AND income. So you end up earning more while working fewer hours.
In fact, many coaches earn over $100,000 a year while working only 20 hours a week.
That’s because as you grow as a coach, you can start to add leveraged streams of income such as group coaching, speaking and online courses which then has the potential to generate millions of dollars.
And look, I know this figure of "millions" can seem far off right now, but just know that it’s definitely possible when you consider how many people you can reach online.
And right now, there’s never been a better time in the history of mankind to become a coach.
People all around the world are going through dramatic and challenging times, and the world needs coaches now more than ever before.
Let’s face it. We’re all experiencing situations, decisions and emotions that we never expected to face in our lifetime.
And as a result, more and more people around the world are discovering the value of having a coach in their life who can help maintain and improve all areas of their life.
So How Can I Become A Highly Successful Coach?
So when it comes to running a life coaching business, it’s really quite simple. You don’t need a massive client base to start making money.
You literally can just be good at what you do, and put your coaching services out there and start going.
We break it down for you step-by-step in our free webinar, How To Become A Highly Successful Coach here.
But basically, if you really want to become a great coach, you need to get certified by the International Coaching Federation (ICF) through an ICF-certified coaching course.
The ICF is the leading internationally recognised organisation for elite life coaches around the world. Their standards of excellence, professionalism and code of ethics are globally recognised.
By becoming certified with the ICF, not only will you increase your value in the marketplace, but you will also have the best tools that can get your clients results fast.
And in case you’re wondering, we’ve created a video and a blog post that explains in detail how you can become an ICF-certified coach here.
Once you become ICF-certified, the next step is to get your coaching services out there through marketing – another important aspect to answering the question, “Can you make money as a life coach?”, because…
Marketing Is HALF Your Coaching Business
If you don’t like marketing, then you need to change your mindset about marketing because marketing makes you money. It makes up HALF of your coaching business.
So when it comes to marketing your coaching business, there are online and offline strategies. But at the end of the day, what you really want to be good at is having a deep understanding of where it is that you’re going to find the hungriest marketplace.
For example, if you would like to use event marketing and run live events to grow your business, your marketing needs to track down people that love live events. Or, if you want to help people lose weight, then your marketing needs to look for people who are interested in weight loss.
So think about marketing as something that’s used to capture your perfect clients. Therefore, you should definitely start to love marketing because the more you love it, the more you’ll get better at it and have more clients.
Now there are many ways you can choose to market your services, but one of the most important things that we recommend you do first is have a strategy.
Avoid ‘hope’ marketing, which is a lot of people do. This is where you throw $100 at something and just HOPE it works.
And remember that no one marketing strategy works for everybody. You will have to test and double down on the marketing method that works for you.
If you want to learn the step-by-step process of the marketing strategies that we use which you can instantly apply to grow your coaching business, watch our free Marketing Made Easy webinar here.
They’re the strategies that we’ve used turned our business into a 2-time BRW Award-winning company.
Can You Make Money As A Life Coach? - In Conclusion
We hope we’ve answered your question, “Do life coaches make money?” Not only can you make money, but you can make good money, even in these unprecedented times.
Now, if the idea of becoming a coach sounds exciting to you, then I’d like to let you know about a special free course we have coming up.
It’s a 1-Day Online Course called “How To Become A Highly Successful Coach”, and it’s perfect for anyone interested in starting or growing their own coaching businesses.
Together we’ll spend the day going through everything you need to know to create a fulfilling lifestyle helping people and enjoy the kind of income you deserve along the way.
I know you’re interested in creating a life with meaning. I also know that you deserve to get rewarded by having more money in your life too. So if that’s worth exploring for you, spend one day with me and I promise you’ll have the complete roadmap for how to become a highly successful coach (even if you doubt yourself or don’t know anything about coaching).
At least then you can make an informed decision and see if coaching is right for you.
To learn more or to reserve your free ticket, click here.
Read more about: Coaching