Sure way to make money as a new coach 

If you are a new or aspiring coach, or if you are thinking of becoming one, or maybe you have been coaching for a while now and you are just not seeing those results in your business and not making a consistent income… Then I’m sure the thoughts like “how in the world am I supposed to make money as a new coach?” have crossed your mind.

Ugh! I know because these kinds of thoughts have also crossed my mind when I first started, and let me tell you it was beyond frustrating!

New coach drama…

Let’s face it, you’re running a business and not a hobby! For that reason you deserve to be compensated for sharing your talent and knowhow with the world, even if you’re a new coach!

When I started out, there were so many coaches out there talking about scaling to six figures, but I could hardly find any coach that could teach me how to make my 1 figure income haha! 

I was just struggling trying to figure out how to make my first income and make it come through steadily as a new coach!!

So through trial and error, I figured out what was beginner-friendly and what was definitely not! Because we have to be clear about what phase of business we are in and take on the right strategy to match it! So that we can see results in terms of attracting dream clients, securing those sales, and generating consistent income!

So I want to share with you my 5 secrets on how you can make money as a coach, even if you are still new to the game or pivoting your business! 

I’ll also give you the lowdown on what the advantage or disadvantage of each strategy is so that you can see which direction feels like a better fit for you! I’m sharing what I learned (the hard way) so that you don’t have to! LOL…

1. Group coaching

With group coaching, you are using a system and directly working with people. It is amazing because you can coach many people at once by using live group calls, webinars, and other online learning portals.

Advantages:

This is a great way to offer low to mid-priced offers since you’re banking on the number of members who join the program. Plus, it is as easy as pie when you have your system in place and the method of delivery ready. Because you can then add people to your group hassle-free. The other advantage is that people in the groups can learn from each other and support each other because peer support makes a huge difference when learning and growing as an entrepreneur.

Disadvantages: 

You need a bit of elbow grease to promote and launch group coaching programs to generate sales. At first, you might not have a large number of people joining the program, but you just gotta focus on refining and tweaking things for your next launch.

2. Retreats

What is better than taking a vacation and helping people at the same time? Yup… nothing! Don’t let the word retreat scare you, this can also include a weekend or a one-day intensive workshop, as well as a full-blown one-week retreat in an amazing location.

Advantages:

Retreats are super fun and exciting. Doing retreats and face-to-face workshops is a great way to get get your hands-on with your clients to help them achieve milestones. And being in a different environment also adds to the experience and makes things memorable!

Disadvantages:

The tricky part of organizing retreats and live in-person workshops is the logistics. You have to make sure to get a place that is conducive to the learning experience while also being a place you and your clients will love. You have to make sure of the techs and gears you need, promoting and sales, as well as all the costs involved to make it all happen. You don’t want to come out in the red either. So it takes a lot of organizing and making sure you sell out all the spots in advance.

3. DIY Program

Creating a DIY Program like digital courses, eBooks and workbooks, or even templates, can create some passive income that can help fuel your business.

Advantages:

Having something like a DIY program is great for your wallet. It requires some effort, in the beginning, to create and set things up, but thereafter you can generate sales without putting in the same level of effort! Can we say #passiveincome ?! This helps you make sales in the background while you help your clients get a quick win in whatever they’re struggling with. Not everybody can afford to pay hundreds of dollars for a coaching program but they can pay for a low ticket DIY program.

Disadvantages:

DIY programs can take a lot of time to create. It involved conducting proper market research to know the needs of your ideal audience in order to create the product and set up the systems you need to sell even in your sleep (but once it’s all set up you’re good to go).

4. Private Coaching

With private coaching, you can help clients one on one, and currently, a private coaching package of 3 months or 6 months program is pretty common.

Advantages:

A private coaching program is a great way to give your clients undivided attention during their session, follow their progress and provide support and accountability along the way. This is a great way to provide customized support for your client and hold their hands through their journey.

You also don’t need much to get offer this type of service. All you need to get started is your amazing talent & know-how aka your #secretsauce and online platform to call and connect with your clients.

Disadvantages:

The private coaching program is great but you will be trading your time for money, so you will need to manage your time well in order to show up for your clients and support them in their journey. And because we only have 24hours in a day, you can only offer a limited private coaching spot. And the thing is that you just have a certain amount of time you can give to each client.

5. Become an affiliate

By being an affiliate you do marketing for a third-party service and in exchange, you receive a fee. In other words, you introduce products and services offered by others to earn commission

Advantages:

If you don’t have your own product to sell yet, this would be a great way to introduce and market other people’s offer that is already selling. This allows you to “piggyback” on their preparation and creation as well as the quality of their product while sharing with your audience products that they need or could help them too! 

Disadvantages:

You have to be aware of what your audience’s needs are. You can’t just promote anything willy nilly and hope for the best. You have to be clear on what their needs are and what would be useful to them, and then promote the product. And remember, you also have to make sure that the product is actually good before you spread the word! So it’s advised to promote products and services you’ve used and liked personally. Another disadvantage is that the amount you can make can be very little too high, as it all depends on the payout percentage and the price of the offer.

#bosstip : Own your magic! 

The best way to attract your ideal clients and become a profitable coach even if you’re brand new, or you’ve been in business for a while and feeling stuck, is to own your magic!

Advantage

That means knowing exactly who you are and what you bring to the table so that you can step out in confidence and serve your clients by providing massive value and being compensated for it! Remember that you have unique and amazing gifts to share with the world that are of high service and much needed in this world! For that reason, you can’t afford to play small!!

Disadvantage

NONE whatsoever! You can’t go wrong with knowing and owning your magic at all! In fact, your business can’t move forward or grow and achieve massive success without this crucial step!

So get to know and own your magic now so that you can get paid for your passion!

Here’s to you becoming a money-making coach while creating impact and income!

If you are thinking about becoming a coach or you just started as one, try out these 5 tips and make your money Sis! Being an entrepreneur does not have to be difficult! And lastly don’t be afraid to follow your dreams even if those dreams seem impossible! Because if I could do it, you can too!