Life Coaching Business: The How-To’s

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Do you want to start a business as a life coach? Are you confused regarding how to go about it? Then do not worry, this article is for you. Becoming a life coach is truly a gratifying experience. In order to become one you would need to enroll in a life coaching training program, which are easily available to you either online or in certain colleges. Once you are certified as a life coach that is when you can start planning for your career.

Starting a career as a life coach would require you to follow certain steps and protocols. You would need to write out a plan and the career goals that you aim to achieve. The next step would be to start working towards accomplishing those goals. Make a structured plan of how you want your business to take off. You are in control of everything that you do. However, it is always best to get help from authentic sources and then follow how you want to. Below are some steps that are essential to go through in order to launch your life coaching business successfully and make it flourish in the future.

STEP 1:  Understand and Find Your Niche

In order to start your coaching business, you should know your target audience. Why do you want to become a life coach? What type of people do you want to help? What qualities do you possess that will assist you in your journey as a life coach? All these questions need to be answered by you in order to move forward with your plan. If you think you are good at giving career advice then aim to start your business as a career life coach. If you think you can help people with their relationships in life then become a relationship coach, and so forth.

As your business flourishes, you can always expand your coaching services by hiring coaches who are capable of helping people in other areas of their lives. However, at the beginning it is important to focus on one service rather than trying to juggle more than one. By doing this you would know where you stand and would be more focused, not to mention relaxed. Aim for a unique coaching style that is not in the market and would appeal to your clients. Do come up with a catchy name for your business depending on the type of service you offer.

STEP 2:  Your Desired Business Structure

There are numerous coaching business structures that are available. However, they all come with their own legal protections and different range of tax obligations. Make sure you do thorough research and only follow the authentic industry. After all, it is your business that you have to think about. Taxation and legal liability holds the utmost importance when it comes to choosing the right business structure. Moreover, it is always advisable to have the right type of people behind the scenes to avoid stress, such as people who will handle the accounting, taxes, a marketing coach, and a resource for legal advice. It could save from wasting your hard earned money. As an ICF or BCC recipient, you will also be applicable for liability insurance with a discounted rate.

 Desired Business Structure

STEP 3: Choosing the Right Place

In order to start your life coaching business, you would need to know how and where to offer your services. If you are not on a budget then renting out an office might be the best bet. It will give you a professional look and would work out in your favor when it comes to coaching workshops or group sessions. The downside would be that you will have extra payments to consider when it comes to utilities, phone services, etc.

If you choose to coach from home then it is always best to reserve a special room that you can use for your services. When establishing a home office, you should consider how you can avoid the distractions from around the house and solely focus on your client. If you live with a family, make sure they are aware of your business and know when not to disturb you as you are dealing with your clients.

STEP 4: Which Medium to Use

Another thing to consider when starting a life coaching business is to choose your medium. Do you prefer to work with your clients in person or do you prefer to do it online? Do you prefer coaching in groups or one-on-one? It all depends on your preference. However, it is advisable to start coaching one-on-one towards the starting of your business. This will give you a consistent cash flow and will be a strong foundation to build your business on. Individual sessions will help in increasing your confidence while making sure that you are crystal clear about the type of coach you want to become. You will develop trust and meaningful relationships with your clients as well. Later on you can always switch to offering group sessions as you gain more experience. Additionally, if you decide to coach online, having the right equipment, software, and internet services is crucially important as well.

In conclusion, starting a life coaching business might appear to be daunting at first, but do not be alarmed. With the right plan and the right structure a business like this will launch you into a career that is both gratifying and financially pleasing.

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by Jennifer C.

by Jennifer C.

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