This blog post has been authored by Cherene Francis, Cherene Francis Inc.
Are you wondering if you can make money online as a life coach?
The Learning Curve
Truth number one is that your first year is a big learning curve. I wouldn’t recommend quitting your job right away. You want to make sure that you have the time resources and the monetary resources to invest in your business and your personal growth as a business owner. I recommend that you either go down part-time in your career right now, whether you’re working a nine to five or for another company, I recommend that you stay with that company. If you can do it part-time, grow your business as a consultant or coach on the side, and then let that grow and take off before quitting. That might be a better idea. The worst thing is for you to be struggling to grow your business and learn and not get things right while making an income.
Don’t Go In It Alone
The other thing that I highly recommend is that you don’t do this alone. Many people think it’s just to register a business, start putting up a website, and marketing yourself. You have to get insight from other people who have gone before you, such as myself, to get insight into what to do and what not to do. I don’t recommend you start a coaching business without coaching yourself in marketing and branding and understanding how to get clients.
How To Make Money As A Life Coach Online
You absolutely can make money as a life coach online. You need to understand how you’re going to monetize your coaching business. There’s an obvious version of doing one-on-one coaching via Zoom or Skype. There are other ways that you can coach as well. You can do group masterminds. You can do courses where people buy, and they study online. You could make retreats where people come to see you once a month or every quarter for destination coaching. There are so many different ways to monetize your coaching business. Understanding which ways you’re going to monetize your coaching business is going to be very crucial.
What Stops You From Making Money
One of the biggest things that keep coaches from earning a six-figure salary is they don’t have clear strategic marketing strategies. For example, knowing their niche is a particular avatar or persona that they want to help and how they help them understand their pain points and problems, even understanding their psychology and how they will be engaged to buy. This is probably one of the challenging things that you will come to understand. If you can get that nailed initially, you can have your first client within a day. If you have that nailed, I would say bingo. You’re going to make money online as a coach. 
Mindset
Mindset is the key to all of this. If you don’t believe you’re going to make money online as a coach, you’re not. If you believe you are, you will. Having a strategy, a transparent system in getting clients is going to be a hundred percent needed. You’re going to want to get a coach mentor. You’re going to want to work on your mindset. You’re going to want to get clear on your target market niche. Those are the central truths and keys to making money online as a life coach.
Get Started
For more help and support on starting your life coaching business, I recommend heading over to my business membership lifestyle program where you will learn one-on-one and in groups with me how to start, grow, and build a life coaching business that gives you more time, money, flexibility, and fulfillment.
Cherene Francis is a Multiple Award-Winning Entrepreneur, Actor, Motivational Speaker, #1 International Bestselling Author, International Television Show Host & Producer inspiring thousands of viewers through stage and media.
Cherene Francis has formal education and experience in the Performing Arts, Film/TV Media, Communications, Personal-Brand Marketing, Religious Studies, Philosophy, and Spirituality.
She is also an Internationally Board Designated Institute and Trainer of Hypnosis, Master Practitioner of Neuro-Linguistic Programming, Master Practitioner of Time Line Therapy, and Master NLP Coach.
When she isn’t teaching in business circles, speaking on stage or acting on camera, you can find her watching Netflix at home with her husband and two daughters in Toronto, Ontario, Canada.