Wealth coaching is looked at sometimes like nothing more than baloney by skeptical consumers. That’s because some wealth coaching companies promote what they do in a sleazy way. But today, I’m going to give you 3 tips that’ll set you apart from the really sleaze bag companies out there.

As a prosperity coach, you want to be a coach for the long haul and not just some fly by night coach who just wants to make a few bucks. The best way to avoid sleaze bag roe and start slam dunking every time you coach a client on generating more wealth is to get trained in two areas:

1. Learn how to become a money coach who delivers great value in every one of your coaching sessions
2. Know personal finance strategies and tips that really do create wealth over time

Wealth Coaching Tip 1

Spend time understanding where your client wants to go. This is essentially their vision for success. Nail this first tip and you’ve solved 50% of their wealth challenge.

Coach them to answer questions about what is their purpose in life. Because if you can get down to the root of what’s really the thing that’ll drive them, then that’s when you’ll have the most satisfied coaching client. Success is not just measured in terms of dollars. Happiness is far more valuable to a wealth client who feels like they’re just not doing what they want to do in life.

Wealth Coaching Tip 2

How did your client get to where they are today? Now this is very important because you want to make sure you don’t coach them to repeat failure patterns in their life which was the cause for their lack of wealth.

More importantly, you need to know their strengths because strengths are what you want to cultivate and coach them to rely on for getting more success in their life.

Wealth Coaching Tip 3

Now you know where your coaching client wants to go and what truly motivates them to want more prosperity in their life. The key is you’ll know their strengths and weaknesses after you’ve done tip 1 and tip 2.

Now the third tip is for you to develop a SWOT analysis: strengths, weaknesses, opportunities, and threats. SWOT will be one key component of your client’s wealth plan.

Opportunities should support where your clients want to create wealth. Opportunities are wealth creating actions they can take or decisions they need to make to get them closer to their vision. Your coaching comes in where you’re giving them ideas and strategies to capitalize on their opportunities. Remember, they may no nothing about how to do what you’re suggesting. As their wealth coach, you give them the step by step plan.

Threats are the areas of where they want to go that are scary for your clients. Threats can be simple areas of life such as their relationships: business or personal. Threats can also come from within themselves. Then threats can be external such as the overall economy. Your coaching skills will uncover threats for your clients to steer them past any roadblocks that’ll get in their wealth path.

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Donald R. Hunter, MBA, Certified Financial Planner
JTS Certified Accountability Coach