Thinking of becoming a life coaching entrepreneur? Here are seven great tips on how to build a life coaching practice.
Asking Yourself Relevant Questions
Before you begin working on your new business venture, you need to ask yourself some essential and relevant questions like the ones below.
- Why life coaching?
- What skills do I need to possess as a life coach?
- Will a career in life coaching bring financial stability in the long run?
- Do I have the required training, education, and experience to start a life coaching practice?
- What are the legal requirements needed for my business?
- Where do I find my ideal clients?
- What other information do I need to have on how to build a life coaching practice?
How to Build a Life Coaching Practice Using Tips That Works
If you have a passion for seeing others’ lives transformed, helping them achieve their short- or long-term goals? Then life coaching is for you. (a good response to the first question). The tips below will help answer some of the other questions listed in the previous paragraph.
1. Getting Trained and Certified
Having a college degree or any form of training is not required. However, a background in psychology, business, healthcare has proven helpful. Presently, the field of coaching is unregulated; there are no federal or state laws requiring individuals to be trained as a life coach or be certified. As a result, there are several life coaches in the field today with little or no training and possess no coach certification. The downside of this is that anyone can call himself or herself a life coach and a lot of these individuals lack the proper coaching skills and techniques needed to effectively coach their clients. According to the following statistics from the ICF.
77% of coaches agreed that clients expect them to be certified or credentialed
83% of coaching clients reported that it was important for coaches to hold a credential
People are more likely to recommend a coach who holds a credential than a coach who does not.
Industry experts highly recommend coach training and certification to be more effective as a coach and competitive. Most businesses and individuals prefer the services of trained and certified coaches.
(NOTE: If you’ve been waiting to start your coaching business, or were wondering if you can do it profitably, then you need to watch this video. In the video, I’ll explain how to How to Build a Profitable Coaching Business in 30 Days. Click HERE now to watch the video.)
2. The Right Skills
To be useful in your life coaching practice, you must possess the appropriate skills. These skills are often learned in your coach training programs or in previous professions. A few of them include active listening, marketing, networking, entrepreneurial and creative skills. It helps set you apart in your niche as well as help you effectively serve your target clients.
3. Discover Your Niche
It is okay to be a generalist, but it is even more worthwhile when you specialize in a particular life coaching area. If you are gifted, skilled, or have previous professional experience in one or more specific areas, it makes sense to focus on those areas. For example, if you are a trained mental health therapist, then becoming a mental or behavioral health coach will be the ideal niche for you. Suppose you experienced marital problems and overcame them and now enjoy a blissful marriage, then a relationship or marriage coach will be an excellent niche for you. If you are skilled or gifted in empowering people to live their best lives, then become an empowerment coach. Having a niche enables you to serve your target clients productively.
4. Business Plan
Create your business plan that will include what you hope to accomplish in your practice, your operational costs, ongoing expenses, and potential revenue.
5. Set up Your Coaching Practice
To become a business owner, you must do things the proper way. Identify your business name and get it registered with your city and county. If this is your first time setting up a business, you might want to consult with a business consultant or financial advisor for guidance. Once you register your business, you may want to get liability insurance for your coaching practice. You may never need it, but it’s always good to be on the side of caution.
6. Market Your Business
The most effective way to engage your clients is to go where they frequently go, which is mostly online. First of all, attract potential clients by engaging them with relevant and valuable content through a business website. Don’t forget to provide information about your services as well as your qualifications on your site. Next, locate platforms, free and paid sites where you can promote your business. Here are some examples of such.
Social Media: Facebook, LinkedIn, Twitter, Instagram.
Online directories: Google My Business, Yelp,
Classified ad sites: Craigslist, Quikr.
The Local Chamber of Commerce: Most cities and towns have a chamber of commerce where the local businesses in the community can further each other’s interests.
Face to face interactions with people in your community (i.e., join groups, community events, coffee shop, community college, etc.). Share your business cards or flyers at these meetings.
7. Business Location
Are you interested in a home office or a traditional office space? Your choice will depend on your business needs, your budget, and your preferences. If you intend to offer additional services to your clients or plan on incorporating things like seminars or workshops, then a physical location might be right for your business. On the other hand, if you are planning on coaching clients solely over the phone or online, then a home office might be the best option, and the advantage of having a home office is that it will cut down on the overhead costs of your coaching practice.
There are several useful tips available in books and online on how to build a life coaching practice. The ones mentioned in this article are among those proven to help you establish a successful coaching practice, and I hope you will find them helpful.
Margaret K. Olubiyi
Writer, Coaches Training Blog community