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How to Succeed in Making Money Online – Coaching

How to Succeed in Making Money Online – Coaching

Making Money Online - Coaching and Counseling
Making Money Online – Coaching and Counseling

Welcome back to the How to Succeed in Making Money Online Series. This is the final part of the 5 part money making series. To recap the previous weeks, in part one, I introduced you to the concept of affiliates and discussed how to make money online with affiliate marketing programs. That was followed up with part two and the discussion about incorporating and developing information product creation to your website.

In part three, I discussed membership marketing sites; what they are, what they do, and how to build one. Last week in part four, I discussed freelance work and how to find clients.

For our final part (five), the focus will be on coaching. Coaching (sometimes referred to as life coaching or counseling) is used to help people who are transitioning in their lives and offers ways to help them plan goals and take the steps to realize those goals. Simply put, a coach is someone that guides you on a path to success with the aid of advice and guidance.

Is Coaching Right for You?

Maybe you have been toying with the idea of becoming a coach, but are not 100% sure you are the right person for the job. Let’s take a look at the top 5 traits of successful and highly effective coaches to see if you have what it takes.

  • Insight – the ability to look at a complex list of problems, situations, or circumstances and be able to see patterns. A strong coach is able to identify the real underlying issues and work with the client to find new ways of dealing with these struggles.
  • Listener – coaching is more than finding the solution to a problem. It takes active listening skills; hearing, understanding, providing feedback, deferring judgment, and responding appropriately.
  • Experience – while coaching does not require a degree, it does require some experience. Often times, coaches will select a niche that they have personally experienced struggles themselves and decide to assist clients with the proven tips they discovered on their road to on-going personal growth. A coach is someone with exquisite self-awareness and high emotional intelligence.
  • Empathy – the ability to have a strong sense of caring and a deep curiosity about people and their problems
  • Desire – to have an intense passion to help people who are struggling and an interest in helping others achieve personal/professional growth

Additional attributes include:

  • Authenticity – don’t pretend to be what you are not
  • Perceptive – very intuitive, curious, and inquiring
  • Learner – continuous learner of the craft of coaching and life experiences
  • Vision – the ability to focus on the important details

More Reasons to Become a Coach

Did you know that coaching is one of the fastest group industries? More and more people are dissatisfied with their personal and professional lives that they are seeking out the advice of life coaches.

Although many coaches meet face to face with their clients, technology has made it possible to work via teleconferencing and skyping options.

Online coaching makes it easy to work a flexible schedule to meet the needs of both you and your client. This also means lower overhead compared to a traditional “brick and mortar” business.

Did I mention that coaching allows you to be your own boss? You can start your own business with the opportunity to branch out.

Most importantly coaching gives you the opportunity of being a valuable contributor within society by helping others. Think of what could be more rewarding then shaping individuals and helping them to overcome life challenges and achieve their goals.

The Next Steps

If coaching is sounding more like the career you want to pursue, the next step would be to decide on the type of coaching you want to practice.

  • Personal Coaching
    • Career
    • Health and Wellness
    • Life
    • Relationship
    • Motivational
    • Personal Development
  • Business Coaching
    • Business Startup
    • Executive
    • Leadership
    • Marketing
    • Entrepreneurship
  • Wealth Coaching
    • Debt Management
    • Financial
    • Prosperity

You might then decide to become certified or accredited. While there are no licensing, certification, or even accreditation requirements to become a life coach, that doesn’t mean you don’t want to obtain skills to help you in your practice.

One of the best ways to decide if coaching is right for you is by jumping in and experiencing. To get started as a coach, you’ll want to look at how others have done it. You can even hire a coach to teach you how to coach. You will also want to make sure that you have the kind of experience others are willing to pay for. Many life coaches offer free consultations and may be willing to help show you the ropes. Sign up for a month of coaching to see a coach in action and have them guide you in your new career.

Don’t be afraid to check out local coaching groups, where experienced coaches give presentations and seminars. Form a network of coaches in the same niche who are willing to share tips, advice, and a sense of community. Sign up for free coaching classes to learn the basics of “coaching 101” and develop the fundamental coaching skills.

Money Generation and Building Your Practice

You know the niche you want to coach in, have obtained training and/or experience, and now want to open a practice. You can choose to branch out on your own with an online practice or join an already established practice

In addition to coaching skills, you will also need to development your business skills to run and maintain the business as well as marketing skills to get clients.

By coaching, you’ll generate a steady income. You can show people how to succeed in their niche; these are people who want help from someone who have been there and they are willing to pay for your help so they can be successful, too.

If it’s in a niche like dieting or health/wellness, then your coaching might take them on a 6-week challenge of change. If it is group coaching, these individuals can be pillars of support for one another while you coach them with your guidance.

As a business coach, you will be a mentor to them. Your job will be to guide them through all areas associated with their business. Some of these areas might include the best way to grow their income, how they can become an expert and how they can market their business.

You can set up your coaching business in 30, 60 or 90 day cycles, for example. Obviously, the 90 day cycles would need to cost a little more since you’re not rotating in new members as often.

You can teach through your online forum, through webinars, Facebook groups, or through tutorials on private video sharing sites. You can establish contact with your clients through Skype or Google Hangouts, through phone calls, through emails or in an online group that you set up.

You’ll want to make it clear when you’re marketing your coaching skills – what benefits your clients will receive. A business coach might want to mention specific ways that she can help her clients. This might be something along the lines of how you can teach them to be successful using email or video marketing. You can offer ways to teach them how to build a web presence, how to establish a growing platform, how to blog, incorporate social media and more.

Once you have obtained steady customers and established your practice, you can expand your business by adding more programs, books, training products, and services to develop additional income streams.

Food for Thought

I hope that you have enjoyed this and the last 4 weeks of the money making series. As you can see there are multitudes of ways of making money online and one or two might just be right for you.

As I discover additional money making options, I will continue to add to the series. If there are any topics you are interested in, please drop me a line in the comments. I would also love to hear from you if you are a life coach or thinking about becoming one. Are there any items that I missed or anything that new coaches need to focus on when starting on? Please share your expertise.

 

 

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