So many coaches are personally transformed through their coaching experiences…
…but your coaching business also changes your life financially.
Coaches are paid as well as doctors or attorneys…
…but you don’t have to go to school for years to get a degree.
Coaches listen to clients,
…money shows up.
Of course, coaching isn’t a totally effortless profession…
…but coaches aren’t digging ditches, either.
So many people look at the lifestyle and business that our students have achieved…
…and it seems too good to be true.
I talk to new coaches that tell me…
“I can’t imagine actually making money coaching…
…because I’ve been ‘coaching’ for free for so many years.”
Then they ask me…
“…Kris, can I REALLY generate income with a coaching business?”
Let’s talk about making enough money coaching…
…so your coaching business becomes financially life-changing.
How do you define ‘life-changing’ money?
One online poll asked people exactly that question…
“How much of a windfall would it take to change your life?”
The average answer?
That’s right, a one time lump sum of $19 K…
…is what the average person thinks would be “financially life changing”.
You might be ‘above average’ financially…
…but let’s agree on $19 K as an acceptable ‘life changing sum’ for most.
What if I gave you one year to generate that…
…ONLY from your coaching business?
Do you think you could make $19 K in your coaching business…
…if you had 12 months to do it?
Let’s break it down:
Each month, you’d have to average $1,650.
Sound like small potatoes?
The truth is, while so many coaches are dreaming of $10 K months…
…most never even get close to that, much less, change their financial life for the better.
And, although $1,650 may not be sexy…
…you have to make 1,650 on your way to your first $10 K month.
So, at a minimum, 1,650 is a critical stepping stone…
…to your highest financial aspirations in your coaching business…
…whatever they may be.
Here’s one example of how this happens so quickly in a coaching business.
Russ is a new coach I’m mentoring.
Just like all new coaches, he started with ZERO coaching clients…
…but within 60 days…
…he enrolled 3 clients.
Each client paid him $750 a month…
…making him over $2 K per month.
In a year, Russ will have his ‘life changing’ money.
Not to mention that now he can get MORE clients again and again.
Because now Russ knows how to do it.
If Russ can do it…
…you can do it.
How can you make at least $1,650 a month…
…starting from ZERO in a coaching business like Russ did?
As a new coach, let’s say you charge $250 for 2 coaching sessions per month.
To make $1,650 a month at that rate…
…you’d need to have 7 clients.
And ANYONE can get a client for $250 per month.
Even if you have to jump through hoops, or give your clients extra coaching…
…you can enroll a $250 per month client.
More specialized, in-demand, or advanced coaches charge far more.
And if you can enroll ONE client…
…you can enroll SEVEN clients.
Just do what you did seven times over.
“But what kind of time will this suck out of my already busy schedule?”
If each coaching session takes 30 minutes…
…and you’re coaching 7 clients, 2 times per month…
…that’s only 7 hours per month.
That’s less than 2 hours of coaching each week.
That means you’re making OVER $1,650 a month…
…in less than 2 hours per week.
2 hours per week is the time you need…
…to make “life changing” income from your coaching business.
You CAN change peoples lives.”
Yes, it takes time to find and enroll each of those seven clients…
…but you only have to enroll that client ONE TIME.
After that client enrolls into coaching with you…
…they usually STAY your client for months (or years).
Get paid AGAIN AND AGAIN.
Do you have 2 hours per week to maintain those 7 client relationships?
If so, you CAN maintain that income!
“But how fast can I build up to 7 paying clients?”
You could get those 7 clients in 7 weeks if you do the following…
FIRST: Schedule 5 “discovery sessions” per week.
(A “discovery session” is a common term for a one-time “free sample” coaching session.)
If you’re not sure where to find people to offer a discovery session to, then you’ll want to watch this video.
SECOND: During the discovery sessions, Invite those 5 people to continue coaching with you (if it’s a fit).
If only ONE client decides to continue coaching with you…
…you’ll enroll 1 new client EVERY week.
(assuming you continue to schedule 5 more discovery sessions each week…)
And, in 7 weeks…
…you’ve enrolled 7 clients.
“But how am I supposed to enroll paying clients like that?”
You ask them.
Ask them to enroll into paid coaching with you.
No sales tricks.
They say yes or no.
The reason some of them will actually say “YES”?
Because you’re doing a good job coaching them.
ANYONE can enroll one out of 5 clients (if they do a good job coaching).
In 7 weeks…
…you’ve enrolled 7 clients.
Now you’re making $1,750 a month coaching.
You’ve built up to making ‘life changing money’ in just 7 weeks.
Yes, it took some work…
…but, at this point, you’re in maintenance mode.
Keep in mind, you’re doing all of this in only 2 hours a week.
This is PART TIME.
Most coaches keep their day jobs when they’re starting out.
Speaking of your ‘day job’…
What does it take to get a $1,650 raise at work?
First, when was the last time you actually GOT a raise at work?
Was it as much as you deserved?
Companies offer raises at LESS than 50% of the inflation rate.
Companies offer raises at LESS than 50% of the inflation rate.”
Meaning that, after inflation, you’re making LESS MONEY.
If you DO get a REAL raise at work…
…it usually leads to
- more responsibility
- working more hours
- more pressure, etc..
Trying to get a real raise from a single employer is like a child asking their parents for an increase in their allowance.
The child has no real influence over their parents (other than asking nicely).
So what could that child do?
They can start a lemonade stand…
…and make their OWN MONEY.
There are all sorts of “lemonade stands” you could start to make ‘life changing money’
Unfortunately, most ‘side hustles’ turn out to be disappointing at best.
Driving for uber or scalping products on ebay just isn’t all it’s cracked up to be.
But if you have the passion to change lives for the better…
…coaching is your best lemonade stand.
But if you have the passion to change lives for the better…coaching is your best lemonade stand.”
AND… the best way to change your life financially.
- You may already have all the knowledge you need.
- You can learn any new skills you may need relatively quickly.
- You do not need to have any special talent or intelligence.
- You don’t have to pay off student loans.
- You choose your own hours.
- You decide who you want to work with.
- You can coach anywhere in the world with an internet connection.
- It requires no special equipment (a cell phone is all you need).
- You help people to live better lives every day.
- You can work from home and pick up your kids from school if you want.
- You get paid exactly what you’re worth to the marketplace.
- No office politics.
- You don’t have to rely on any one person to succeed (besides yourself).
- You can automate a lot of it.
- It helps you improve as a person.
Think about your financial situation.
If you were to increase your income a ‘life changing’ amount…
…like $1,650 dollars a month.
How would you spend it… in a way that would change your life?
Would you use the money to…
- Get out of debt?
- Go on that vacation you’ve been putting off?
- Invest towards your financial future?
- Get that nice car, dress, or home entertainment center that you’ve been drooling over?
In all but the most unaffordable areas, $1,650 covers a house payment!
You may not be living on your luxury yacht yet…
…but your life would be better than it is today.
AND that financial achievement came from doing something you LOVE.
That’s why a lot of people want to coach for a living.
ANYONE CAN do it.
You CAN change peoples lives.
You CAN change your life.
You CAN change your FINANCIAL life.
ALL at the same time.
One client at a time.
7 clients is all it takes.
Kris “Give Yourself a Raise” Thompson