There are two things most attorneys, chiropractors, dentists, financial advisors, real estate agents, CPAs, consultants and network marketers all have in common.

The first thing is, they’re all in perfect situations to make lots of extra money in the world of professional coaching.

The second thing is, they don’t have the slightest idea how to go about doing it.

By now, you’ve doubtless heard about business coaching. Coaching has been sweeping the business world for about seven years. It’s been written about in Newsweek, The Wall Street Journal, Business Week, USA Today and hundreds of other publications. Coaching has been featured on Oprah several times and numerous big-selling books have been written about it.

Coaching is hot—and you need to know about it.

 

What is Coaching?

Coaching is nothing more than helping people set goals, create action plans they feel comfortable with, and uncover what may be holding them back from taking action—and then holding them accountable to those activities they agree to do.

Well-skilled coaches ask lots of questions that cause their clients to move forward. They know how to listen on a very deep level, and they’re curious about everything their clients say, do and don’t do. Intuition also plays a role in coaching.

Professional coaching supports the premise that all people are creative, resourceful and whole, and have within themselves the power to solve their own problems. The role of the coach is simply (without judgment) to help their clients tap into their own natural abilities and come up with solutions they feel comfortable doing.

Almost anybody can be a good coach and earn an excellent income doing it by learning how to hone the skills they’re already using and taking for granted every day.

 

What Are the Benefits?

The two clear and widely appealing benefits of coaching are that it’s a career that changes people’s lives for the better and creates an excellent income stream for the coach. But there are some other benefits to consider as well.

There is no rejection in coaching. Coaching is so new and interesting, most people do not put up any sales resistance when being approached by a coach. That is huge. You probably already know how devastating rejection can be when prospecting. Coaching is different; it’s fresh; it’s attractive.

Coaching can also rapidly turn around an existing business that’s struggling, or further boost one that’s already successful. Many people are attracted to coaching for the simple reason of wanting to be better leaders to their organizations. One of the strongest benefits of coaching people, versus managing or motivating, is that people are more comfortable taking positive action steps if they can do them in ways they feel comfortable. That is the cornerstone of good coaching—letting the people you coach do it at their own pace and in ways they can handle.

 

How is Coaching Done?

Coaching can take place in person or by phone. Most professional coaches work with their clients by phone; that way, it can take place from anywhere, even from a Hawaiian beach. Expenses are usually very low because it only requires making a long distance call to a client three to four times a month. Calls typically last twenty to thirty minutes in length.

Coaching can also take place in a group setting via teleconference. Once you know how to market and get clients, you can have people calling in from all over the world for your group coaching sessions. To conduct group coaching sessions, you would probably need some special training on how to do it and you would need to have specialized knowledge on one or more business skills.

 

How Much Money Can I Make?

That depends. Typically, professional coaches start out coaching for free just to get the experience. Then they begin charging fees that range from $50 per hour to $200 per hour. Some coaches with specialized knowledge can earn up to $500 per hour with a single client. And it’s not uncommon for good coaches conducting “group coaching sessions” via teleconference to earn $1000 per hour and more

There is nothing cast in stone about what to charge as a coach, but the more coaching skills you have and the more value you can give, the more money you can make. It’s a wide open field.

 

How Do I Get Clients?

That’s the catch. As with any business, getting paying customers or clients is the secret to success. Coaching itself is relatively easy. Getting paying clients is another story.

The greatest reason for failure in coaching is the same reason for failure in any other business: not knowing how to market and give good presentations.

If you want to be a coach in order to support and build your existing networking business, no problem. However, if you want to take advantage of a powerful business trend going on right now and earn big money as a professional coach, you need to know how to market your practice and you need to have a good presentation.

In forthcoming installments of this column, I will teach some of the skills of coaching, as well as how to market your coaching practice and give a compelling presentation that will fill that practice with paying clients.

HILTON JOHNSON has been training
people in sales for three decades; he and his
wife Lisa are co-founders of MLM U.
www.networkingtimes.com/link/hilton