It might sound like fun to become a business coach. You can help people and choose your own schedule. But statistics show the average salary of a business coach working full time is approximately $4900 for the first year. Depending on where you live that may or not go far. The salary is so far below the poverty level you could probably get food stamps. If you want to become part of the solution to today’s economical crisis you’ll need a plan.
Tips To Become a Business Coach Without Going Broke
1. The first thing to realize when you become a business coach is that unless you have a lot of clients waiting to start, you’re going to need to rely on savings or a stream of income to support yourself along this path.
2. If you want to become a coach who makes a six figure salary, you’re going to need to run your coaching business like a business. That means keeping your nose to the grindstone until you achieve enough momentum to start your business.
3. Have a plan, get coaching, and learn the art of getting coaching clients. There are many great coaches out there who are starving only because they lack the skills to develop their own business. Don’t become a statistic.
What’s The Payoff?
If you become a business coach who has 20 clients, the average salary would be about $10,000 a month if you charged $500/month. If you wanted to leverage your time, you could offer group coaching or live trainings to your services. The key as with any business is really about following your own advice as a business coach and get some coaching for yourself so you can achieve your own goals. And as with most things, you’ll get what you pay for. Don’t fall prey to relying on trading coaching with your friends. You need someone with experience who can lead you to the next level.
To learn more about how to generate an endless wave of high paying coaching clients, get your FREE Instant Access to our “Life Coaching Business Blueprint” video toolkit when you go HERE.
JTS Advisors Bi-Designated Strategy and Accountability Coach