What is the earning potential of AC oach?
An inside look at the coaching industry, along with red flags and lies
Is it not unreasonable to want to work towards assisting others while earning a steady income from any source?
Before 2019, I had no knowledge of coaching being a “thing” except for sports, minor leagues, or specific areas such as voice/acting/speaking coaches
I observed a significant surge in personal growth during this period, which was embraced by me due to its captivating nature
Inadvertently, I joined a coaching program that educated individuals on becoming coaches without realizing it. Despite my absence from the classroom to learn coaching, I was given an educational support package worth $5k by my company. My interest in teaching psychology led me to conclude that it was more about mindset than actual work
In the coming years, I will be immersed in the coaching industry. My passion for personal development and LinkedIn success led to the acquisition of clients
I was involved in distinct coaching groups, learning from luminaries like Amy Porterfield, Stu McLaren, and Rob Dial, before developing my own 6-figure coaching program and supporting other coaches to follow my lead
I was fortunate enough to work alongside a lot of coaches who were both behind me and ahead in terms of success. Over 200 coaches, primarily in the areas of LinkedIn, sales, and digital marketing, have been personally trained by me, along with some business and mindset clients
I have stopped providing coaching services, but I still assist other coaches through my website Etsy sells digital coaching products I am also a high-end individual Kajabi Templates (website templates)
Although it may seem so unsettling, the conclusion of this piece will leave you pleasantly surprised
How much can a coach expect to earn, and what are the typical responses to this question?
All types of coaches have a market, and the most common one is the “life coach.”. The list of topics includes marketing, sales, leadership, fitness, mindset, business, social media, and more
It’s a subjective question that has no single answer, but I’m going to give you an inside look at what I observed and some suggestions on how to maximize my coaching profits
Is the dream or the deception?
The primary point to consider is that coaching can be so enticing that many coaches are selling other coaches out on their services, leading to the promise of dreamy career paths
For example:
Mindvalley is responsible for publishing this adaptation of without my knowledge
I think Mindvalley, the company that has a lot of high-quality coaches on their platform, does an excellent job in doing good work around the world
Despite its flaws, this article is completely false in that it may make people believe that coaching is the norm for most individuals
Mindvalley is not the only one selling this dream. There are numerous other firms promoting this type of false information
This is how they earn money, but the strings are so tight that it seems too easy
The reality check reveals that coaches often face difficulties in making ends meet
Despite Tony Robbins ‘impressive numbers, coaches who earn 6,7, and 8 figures are among the top 3%. 1% of the workforce in the industry
Statistics have shown that the average earnings of a professional coach are in the range of $40–90k
At the Fortune 500 company, I earn approximately $80k per year as a salary for coaches
I believe that there are numerous ‘bedroom coaches’ who do it as a side business, with some clients, but not as professionals or as their primary source of income
The “shady marketing” associated with coaching has left me frustrated, as I have seen many people destroyed by false expectations, inflated dreams, and failed endeavors
I’ve seen individuals leave their day jobs and pursue coaching, incurring debt and ultimately failing to achieve the Richard target
I’ve witnessed individuals squandering their time and resources in pursuit of coaching
What is the reality behind ‘Big Launch Numbers’?
We’ve seen many high-profile figures, including celebrities, bloggers, and business owners, post their successful launches on social media
The ‘gross revenue’ figures are not discussed and do not take into account advertising and affiliate marketing
A lot of the larger influencers have highly developed affiliate programs and give a significant portion of their earnings to their partners
I am not sacrificing anything with these influencers and I personally enjoy working alongside respected personalities in the field
I would like to clarify that the typical affiliate payout ranges from 40 to 50%, which is a substantial amount
Their advertising campaigns can be quite burdensome, with significant expenses that increase gross revenue figures but not actual profits
Despite the success of these launches, they are not as significant as expected
How much can a coach expect to earn per hour?
I was approached by my first coaching client on LinkedIn, who was a young salesman. When they charged me $100 per session, it was an awkward moment as I didn’t feel like talking about something I loved deeply
I increased my hour rate to $150 for the second and requested a 3-month commitment, and then raised it to $200 for both
My previous coaching client owed me $2000 per month with a 6-month commitment, which is equal to $500 per hour
I learned how to develop a team of coaches at 2: 00 pm, earning $250 per hour and having them perform some sessions for me, which resulted in an hourly income of $750 before hours
I saw many structures that charged $1k per month for a 3- or 6-month agreement, which was probably the most prevalent
It is common for people to have to push for higher rates, which involves becoming more receptive to charging for their services
The deception of hourly earnings in coaching
It’s a challenge for coaches to handle over 12 one on one coaching clients, so spending $250–500 per hour will not make you an income
The increasing workload on hourly slots and the need to manage marketing, sales, and business responsibilities make it more challenging
Despite charging an hourly rate, coaches find it challenging to increase their income beyond $90k annually due to limited hours worked
The art of scaling
Most new coaches (or entrepreneurs) continue to use the ‘time traded’ model, which involves charging an hourly fee for their services
As you advance in your business venture, you’ll create a range of products and services that can generate revenue without any additional time on your hands
To exemplify, there are::
This is why I have shifted my focus to selling digital products, so that I can avoid being involved in the financial world
If you have a passion for coaching, you can choose from an array of digital products, courses, one-on-one and group coaching sessions, and merchandise
Providing an extensive range of services and products is a fantastic way to break into the 6 and 7 figure, but it takes time to develop these skills, expand your audience, and launch these products/services
Marketing plays a crucial role in all this
Learning the art of digital marketing is the most significant indicator of proficiency, according to my last statement
You may be the most successful coach globally, but without a target audience or persuasive abilities, it’s irrelevant
My early understanding of this helped me set my sights on becoming a master of marketing and sales, which proved to be advantageous
Conversely, coaches who do not acquire the necessary skills in marketing, content creation, and sales will have a business that is unsuccessful
Regarding the coaching certifications
They don’t matter. Unless you are a certified coach like Mindvalley, Tony Robbins, John Maxwell, or ICF, your coaching program is not something that people want to buy
In case your confidence boosts with a coaching program certification, defy your own authority by participating in one
There is no denying that being part of those communities can be advantageous, and they may offer valuable resources and tools. They are not capable of bringing you more clients
One last thing…
Your coaching business will thrive if you treat it as a true business. If you treat it as a hobby, you’ll earn money like this
It is necessary to invest time and effort to acquire the actual talents of an entrepreneur
Gain insight into the business aspect of sales, marketing, operations, call center management, networking and collaboration, traffic and content creation
By mastering these skills, your coaching business can thrive and exceed the 6 figure mark. Nevertheless, it won’t happen overnight
Be patient and accept that the process is more important than the outcome, as those outcomes will be a byproduct of your personal growth
Don’t miss out on my free download of “The Heart of Hearts”! Ultimate Online Business Playbook The book is a comprehensive guide to online entrepreneurship, providing practical tips on making money online by doing what you love!
Simon
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