What Is Life Coaching | The Coaching Masters

What is Life Coaching?

Coaching is a process in which a Coach partners with a Client to provide thought-provoking sessions. This allows the Client to gain clarity on many varied situations and inspires them to take action.

A coach is not a subject-matter expert, rather a guide focused on helping clients unlock their full potential and be able to achieve more.

The coaching process can help clients increase the use of their talents, strengths and skills in order to become more fully functioning in both their personal and professional lives.

The client is taken on a journey from where they are to where they want to be. Along the way, the coach will shine a light on the clients’ blind spots, provide challenges to old limited ways of thinking, help create new points of view and help them to see more options that were not visible before. This helps people get unstuck, break down barriers and achieve their goals.

The coach believes that the client has all of the answers already within them. The focus is very much on the client and their own thought processes. The coach trusts that people inherently know what is best for them.

The key skill of coaching is asking the right questions to help clients have realisations that allow them to overcome their own barriers, discover what has been holding them back and get the results they are searching for. Powerful questioning techniques and tools are used so that clients can gain clarity regarding what they truly desire and discover who they are at their cores.

Coaching allows clients to be more aligned with the people that they would like to become and build the behaviours best suited for their new paths. Coaches assist clients in creating practical step-by-step action plans to reach their goals. This helps to create long-lasting change.

What Makes Coaching Different

Coaching is not teaching, counselling, or mentoring. It is something different. Unlike therapy, coaching is not interested in repairing or curing dysfunctionality.

Coaching is focused on what the client wants for the future, rather than the focus being on their past and where the client has come from. The future is full of possibilities and potential instead of the client’s attention being fixated on past mistakes.

Unlike teaching and mentoring, coaching is not geared towards giving advice. Coaches are a facilitator of powerful conversations using specific questions found within coaching tools, technique, methods, and frameworks.

The Truth About The Coaching Industry!

What is the Aim of Coaching?

The aim of coaching is to support the client with making changes, overcoming obstacles, achieving specific goals, and/or whatever other areas of personal/professional/learning development that are identified and agreed upon throughout the sessions.

The role of the coach is to also provide accountability, which promotes excellence and helps clients achieve results faster. Accountability also helps people see the value in their work. Coaching aims to be flexible, taking into account the client’s priorities at any particular point in time.

Anyone can take a coaching approach with others. Anyone who learns, and properly applies, coaching questions, techniques, methods and frameworks can provide effective coaching sessions.

What Type of Coaching Can You Do?

A coach is quite simply someone who helps people – and you can help people in many ways. Some coaches may decide to “niche down” and focus on a specific area.

There are many topics in the coaching space such as:

Mindset

Empowerment

Confidence

Career

Wellness

Lifestyle

Sexuality

Relationships

Self-love

Health

Executive

Transformational

Fulfilment

Peak performance

And many more!

How Much Money Can You Make As a Coach

Coaches usually charge between $60-$250 per hour. The average online coach earns around $50-80k P/A – However, this is just a general guideline and there are professional coaches who charge upward of $2000 per session. You can easily grow this to a multiple 6-figure income the more results you get.

You may even think people would never in a million years pay you that kind of money. But don’t be so quick to make that judgement! As soon as you have a valuable life-changing superpower to offer people, you’ll experience just how valuable coaching really can be!

Some aspiring coaches start their own businesses and others just want a second source of income that they can do alongside their usual working hours. Part-time incomes can vary from $500-$1000 a month, while coaches who coach full-time and sell thousands of online courses can generate upwards of millions of dollars a year.

Earning depends largely on the results a coach can get for their clients and the amount of work they are prepared to put in to develop their coaching business. It also depends on the problem a coach is solving for their clients. The bigger the problem, the more people will pay for you to help solve it.

Income Streams

As a coach, there are many different types of income streams that you can generate. Of course there is 1:2:1 coaching, which is normally how most coaches start. However once a coach gains more experience and clients there are different ways that they can leverage their time.

We teach all of these different routes inside the TCM membership but some options include moving into group coaching, events, retreats, public speaking gigs, ebooks. and brand deals. Once coaches get an understanding of their client’s obstacles, they can even move into creating online courses and start generating passive income.

A coach brings the title of a public figure, and it opens many opportunities outside of the traditional 1:2:1 coaching model.

Operating Costs

The beauty about an online coaching business is there are next to no operating costs whatsoever. You may decide to host a website for $20 a month, upgrade Zoom to a pro account to deliver your online sessions, or hire a virtual assistant to manage your diary for a few hundred dollars a month. But other than that, most revenue generated is profit that can be kept.

Experience

Once you are taught the tools, techniques and skills that are necessary to excel in your coaching business you can gain experience by coaching others. Practice sessions with other members who are learning can be helpful to start, but the real experience comes from helping clients with their goals and challenges and learning what led to their breakthroughs.

Some coaches may also have experienced personal challenges in their own life that allow them to have a deeper awareness around their clients’ problems.

Why Life Coaching?

Location independence (work from anywhere you want).
Opens opportunities to become an online influencer & public figure.
Can generate a full-time income quickly and rising to 6 figures+.
Instant business opportunity.
2.4 Billion-dollar industry.
Anybody can learn the skills required.
High demand (Growing on average 14% each single year).
No previous qualifications or experience needed.
Access to a worldwide audience of online clients using social media.
Ability to deliver sessions online via video call to anyone in the world.
No stock, overheads, office, or staff required.
You can start training and working on the side of your current job without quitting or removing the safety net.

Qualifications Required

The coaching industry is currently unregulated, which provides easy entry to many people with a passion to help others. There is no officially agreed upon pathway a coach must take, other than to find a training provider that can give them the relevant training that they need to get results for their clients.

20 Billion Dollar Industry

The online coaching space is booming! It is a 20-billion-dollar industry in the U.S. alone, and growing by over 6.7% each year. This shows that people are more ready than ever to develop themselves and use the power of coaching to move forward in their life.

Don’t Feel Ready or Unsure Whether Becoming a Coach is for You?

Discover in this 15 minute free masterclass how we’ve helped 8,000 people with no experience and no confidence, swap their mundane 9-5 for a rewarding and fulfilling career in life coaching!