Now you’re ready to venture out on your own as a coach, there’s just one major question: What is the life coach income potential?
The answer is: it all depends on the products you are selling. According to the 2016 ICF Global Coaching Study which surveyed over 15,380 coaches in 137 countries around the world, the average global life coach salary is $51,000 per year.
Chances are, you’ve heard countless success stories of life coaches who have built incredibly successful businesses on the back of coaching products that come in many different formats. From online courses to workshops, the possibilities are endless.
Here are two top products you can sell as a life coach. They could pave the way for unlimited life coaching income potential. All you have to do is select which one most appeals to you, research your market to determine the demand and potential, and create your best-selling product.
Are you ready?
Courses & Training
People are very willing to pay for knowledge and information. That’s why websites like www.Udemy.com are so incredibly successful.
Why do people pay so much money for online coaching courses?
This is simply because they have problems that they want to solve.
Perhaps they want to advance their career. Or, perhaps they really want to lose weight. Whatever the reason, people will gladly pay for solutions to their problems.
Here are some reasons why creating online courses and training material is a great life coach income potential:
Low startup costs Most of your upfront costs will be in the time it takes you to create your course. All you need is to dedicate a few hours of your time every day to create your course. Then, register a domain to feature the course, and create a mailing list of customers to get your course off the ground and jumpstart a marketing campaign!
Tap into the power of training communities You can list your course on websites like www.Udemy.com or www.SkillShare.com and reach a broad market quickly and easily. In addition, Udemy will help you structure your course, set up your pricing model and deliver the very best training product possible.
Sell 24/7 Create your course once and set it up so that customers can purchase and gain immediate access to your course. You can set your business on total autopilot, selling your course 24 hours a day.
Life coach income potential on the back-end You could include additional components to your course or upgrade options including one-on-one consultations or Skype sessions.
High profit margin People are selling online courses for as much as $399 or more! They also offer ultimate scalability as well since you are not limited by how many students you can teach in any given day.
How would you like to get paid month after month by an ever-growing client base, all on complete autopilot?
One of the best ways to build a recurring income online is by creating a coaching membership or subscription website or service. You can charge anywhere from as low as $9.95 to $49.00 and above per month, depending on your needs and content. The model allows you to market one website while continuing to cash in on the same client base, month after month!
Membership sites are based on a recurring content schedule where the website is typically updated weekly, bi-weekly or a month (although you can base your updates around whatever schedule you choose). The content is only accessible by paying customers, and typically the system is set up to auto rebill through either your merchant account or through Paypal.
Once you have your membership website up and running, all you have to do is update it monthly with fresh content and keep your subscribers happy!
You can also consider other membership formats, including paid access to video content or training tutorials and guides. Your membership site could comprise of purely textual-based content or a mix of videos and articles, depending on your market and what your audience wants most.
Make sure to research your market prior to creating your membership site so that you know what forms of content other successful sites are offering and what your audience will expect from you.
Finally, you can choose to host your membership site on your own server, use a remotely hosted option or use websites like YouTube.com to set up private video access where viewers can only gain access to the content once they’ve paid you!
Writer, Coaches Training Blog community”