WHO THE HELL NEEDS A LIFE COACH? That's another name for "mom". How do you expect to charge for that?
Being a warm shoulder to lean on is quite a bit different than being able to charge people to give them advice. I drink beer (and talk strategy) with people that I would NEVER pay to listen to. On the other hand, I pay people for awesome advice -- and I don't ever drink beer with them.
What's the point? If you are an expert in something then CHARGE people for it. If they won't pay for it then you might not be as much of an expert as you think you are.
BTW, please don't call yourself a "life coach". That's so awful.
Ask yourself what are you here to do with your life. If serving other people in this manner is something that brings you tremendous joy, then yes, you can certainly generate income from it. Our company employs both a professional business coach and a therapist and we use both regularly. Intelligent people surround themselves with great mentors and coaches. Some you do not pay for, and others you do. As with any business, to be successful you will need to devote your time and energy to living in that space. Study the field. Hire other coaches and learn from them. Take great classes. Get certified. Give yourself the best possible chance to succeed.
Anyone can offer advice on the questions that keep us stuck, but I have personally found that someone else's advice is nowhere near as transformative or compelling as my own original insight into pivotal questions. Maybe you have found that too? Advice often leads to more questions, whereas original insight leads to more answers.
Because I wanted to be of highest service to my clients, I decided early on to take a different approach. Rather than giving advice, my expertise is actually helping people discover their own answers through coaching conversations. Because I've become an expert in flawlessly answering my own questions, I can help others do the same.
In other words, to earn a great living as a life coach, you must be a great life coach. Great life coaching is less about giving advice and more about supporting people in the discovery of their own answers. Great life coaches can easily thrive in this economy.
To become a great life coach in the shortest amount of time, you must be willing to invest in yourself. Hiring a great coach of your own is a great place to start. A great coach will help you clarify your values, strengths and resources, identify goals that align with those assets, and then take steps towards reaching your goals in the shortest time possible. If that's of any genuine interest to you, I would welcome a call with you. All the best on your journey!
Yes specialize, then develop great content on a blog around that specialty where you can draw an audience (How to get my marriage back on track; how to find my dream career; how to survive my teenagers powerfully) and capture email addresses and send great email that help people. Then sell them into an offer an video training course that focuses on solving 10 top top pain points of that speciality. And provide a moderated discussion forum. And give out weekly homework by email.
By the time we are over 40 most of us have amassed a huge amount of knowledge - the kind that there is no degree for! There is no reason why you can't leverage that wisdom and life experience into a career. The important thing to understand is that coaching is a business and you need to understand how to create a business structure that is going to monetize and be successful. Just because you can give good advice doesn't mean you are equipped to run a coaching practice. Based on that - I would suggest getting coaching for yourself - both in life and business coaching so you know what the heck you are getting yourself into. And make sure you build your business while you have a job so that you don't put stress on yourself because that will suck the joy right out of you if you have to be worried about finances. :)
I have helped many life coaches build very successful businesses - the key issue is being able to solve problems people will pay you for. I've found that the more specific you can be in the type of problem you solve (do you help midlife professionals with second careers? or college graduates to position themselves for their first job?) - the better you'll do.
The steps for getting there:
1. Do some research - find out what problems people are having - that you can help them with.
2. Create a small scale offering and test it out with people you know who are willing to pay you a little bit for it.
3 Start building a community around it.
Best of luck with letting your brilliance shine through in the world!
The importance of a career, in any professional's life- is perhaps as important as many other assets one acquires during a lifetime. So, if there is scope for a private banker, to help High Networth Individuals -manage their investments across different products ( real estate, bullion, stocks, etc), there is no reason why a "Career Manager' cannot add value.
More so, in a world where the half-life of technology is constantly reducing -the skills relevant for one's journey across each stage of the life cycle of their employment is changing.
Life time employment & Career ladders are passe. With increasing mortality of companies the onus of taking charge of one's career is now squarely on the 'employee'..who is now required to navigate thru the maze-on his own.
Retirement age is receding as our lifespans have become significantly longer. Today most of us have to change multiple careers -not just jobs- even at the risk of working for about 50 odd years, if one seeks to be employed. And there is a huge need for taking inventory of one's skills, transpant some of them -and constantly re-invent in a highly globalised world..
Surely..being a Life Coach can not just add value to many a life- but also provide a great lucrative career for many. And yes, you can collaborate with several other 'similar minded professionals' and monetise the network!
If Tiger Woods needed a coach..we can all do better with one, right !?
You might start by asking some of the people that ask you questions, "Listen, I'm thinking of starting an additional business using this as one of my services. What do you think would be a reasonable cost for this advice?"
Let THEM give you an answer. Then if they come to you later, they are clear that there may be a cost of some sort.
Some may not like it at first. but, if you believe that you are GOOD at it and they find your information valuable, then they will create some way to exchange value with you. If not, then they are either not that committed to transformation. OR, you may have some work to do with refining your own value offering.
It depends where those leads are coming from. If your close friends are the ones asking you for advice, then they are probably aware of how valuable you are as a friend, and (hopefully) try and pay that back, or forward, in their own way. I would not advise charging these individuals for your wisdom - it may cheapen your relationship.
If they are not your close friends, asking for financial compensation for your ear and time, in my opinion, is more than reasonable. Time is money, and a non-renewable asset. If they are unwilling to compensate you in some form - than your wisdom may not be as valuable a product in the market place as you think.
With the above taken into consideration, there may be a third way. My father, CEO of Vollett Executive Coaching has successfully sold his coaching-ability through an "influencer strategy", which involves almost no digital marketing, or marketing spend of any kind, and has resulted in 15 years of steady work.
Feel free to book time with me if you would like to learn more.