Ever wondered how much green you can make as a life coach? You're not alone. Many folks are drawn to this life-impacting field, asking themselves, "Can you really cash in on life coaching?"  That, my friend, might be a more legit question than we like to admit. Many coaches under-earn and many coaches fail altogether. 

Let me lay it out for you – the global average salary for life coaches is about $52,800, and those coaching champs in North America pull in an average of $67,800. But here's the thing: it's not one-size-fits-all. Depending on what you coach and how much know-how you've got, you might be billing $150 an hour or raking in up to $340 a session if you're helping executives level up. Those numbers kind of illustrate the reality of coaching: It is a field full of wide-open possibilities, where anything can happen, and there is almost nothing we can say is standard. 

Not everyone is going to be a six figure coach. Being a successful coach might be less about money and more about time or location flexibility. Whatever success means to you, realistically, you’re going to have to decide what’s important because six and seven figure coaches are putting in more time to get and stay there than they want to admit. 

The Raw Truth on Cashing In as a Life Coach

Diving into the life coaching income pool, you'll see it's hella varied. True, some life coaches are banking big time, but that usually means they've hustled hard to build their brand and client list. However, let's keep it 100 real: not everyone's gonna snag that six-figure slice. 

Lots of stuff shapes your paycheck – your niche, your turf, and how slick your marketing game is. To the would-be coach who says, “I don’t want to have to put myself out there or promote myself because I don’t like that kind of stuff”, I would probably say, despite how much you love the idea of being a coach, you probably shouldn’t pursue it. Part of a successful coaching practice IS GOING TO BE MARKETING. Also, getting pursuing reputable training will increase your potential client pool, improve the depth of your work, and give your street cred (and your rates!) a nice bump.

But let's chat about the ebb and flow of income – it's gonna swing up and down at the start. Yet, if you've got the grit and a master plan, turning your life coaching gig into a money-making machine is totally doable. Yes, people start and fail in the coaching space. However, lots of people make it work and love the work they are doing on their own terms. Just think about the knockout value you're bringing to folks' lives. As you beef up your influence, your bank account's bound to bloom too.

What's Gonna Fatten Your Wallet as a Coach?

A bunch of key things will dictate your dough as a life coach. Nailing a niche? That's money—specialists in their field usually have the upper hand on rates. For example, exec career coaches or mindfulness are cash in at a higher-rate because of perceived expertise. Expertise matters in lots of ways – coaches who've been in the game for a while and have carved out their empire can ask for more. Plus, the real magic you work – seen in client testimonials or client referrals – means you can confidently charge a premium. 

Last but certainly not least, your knack for marketing and pitching your story will seriously steer your earning potential. A willingness to make yourself visible is required.  Mix all these together, and you're looking at your financial score in this coaching league.

Hitting the Books for Life Coach Training

Snagging the Perfect Certification

Picking out the perfect life coach cert is a game-changer and might just shape your whole career journey. Coach training is more than being a part of the cool kids club. You want training that teaches you to be a skilled professional. There are a lot of programs out there and you might be surprised how many programs fail to teach diverse foundational skills. 

The stuff your perfect program teaches should jive with how you wanna coach and who you're dreaming of coaching. You'll also wanna weigh the time, bucks, and how you'll be learning – in-person or online – to fit your pace and style. A killer cert program doesn't just teach text book coaching basics; it hooks you up with the deets on running your coaching biz like a boss. And believe me, the right cert helps you stick your price tags with confidence.

From Learning to Earning: Your Coaching Journey

Got your certification in the bag? Sweet – now the real adventure kicks off to make your mark as a life coaching rockstar. You gotta get out there and show the world what you're all about – brand yourself, make some noise online, and don't be shy about clicking that 'share' button. Use all the tools at your disposal, like social media, swanky websites, and shaking hands (or bumping elbows) at networking gigs. Maybe toss out a free session or host a workshop to get folks jazzed about your coaching flavor. Map out your goals, and plot out a business plan that's not just pie-in-the-sky thinking. Rub elbows with other coaches – it could lead to golden referrals. And keep your skills sharp by never stopping the learning train. Turning that piece of paper into your life coaching legacy demands non-stop zest, a knack for rolling with the punches, and a heart that's all in on lifting others up. With these pieces, your coaching journey isn't just gonna be rewarding – it'll make your wallet happy too.

Hitting Your Stride: Strategies for Success

Pricing Like a Pro

When it comes to setting your prices as a life coach, it's like walking a tightrope – balancing fair value with what your clients can reach for. Kick things off by scoping out what the going rates are in your neck of the woods and within your niche. Stir in your experience, skills, and that special sauce you bring. 

Pricing's a bit of an art – you gotta be competitive but own the value you bring like a boss. When you totally get and believe in the life-changing power of your work, that confidence is gonna shine through to clients, and they'll be lining up to join you. Roll out clear packages that lay out the game plan for your clients – this can be your secret weapon to charge with confidence. As you build up your street cred and knock out those success stories, there's always room to tweak your prices to match the level of awesome you're serving up.

Crafting a Buzzing Coaching Practice

Now, building a coaching biz that's cooking with gas is all about forging genuine connections with your clients and keeping your brand's voice as real as it gets across the board. Staying hungry for knowledge and on top of the coaching scene will keep you ahead of the pack. Shout your wins from the rooftops with client high-fives and case studies that'll draw a crowd. Spark a "tell-a-friend" fire with a referral perk that'll have your clients singing your praises. 

Shaking things up with a variety of offerings can also level out your cash flow. Think about getting your group coaching groove on, running workshops, or launching online classes to compliment that one-on-one magic you're known for. Play it smart with your time and swipe the right tech tools to keep things running like a well-oiled machine. Remember, the coaching heroes who really kill it are not just about transforming lives; they're also about mastering the hustle of the biz.

If you are interested in a training space that will help you create a coaching practice that is profitable and works for you on your terms, check us out.

The Coaching Guild is a coach training program specifically designed to nurture dreamers, artists, creatives, outsiders, rebels, and good troublemakers. It is a multi-instructor, multi-disciplinary approach to training that prioritizes learning innovative foundational coaching skills and marketing training.