Have you wondered if it’s really possible to make enough money in your health coaching business?
I hear this question a lot. Many coaches wonder if they can actually make a comfortable living in this business, or if they’ll always be struggling. And if that’s you, too, then read on, because I’m going to dive into this topic right here.
Why Do Some Coaches Make It (…And Some Don’t)?
It may seem like there are a handful of really high-profile, big-name health coaches who are truly successful, and then a whole lot of people struggling to make a go of it. Many of you may be in some big Facebook groups for health coaches, and there can be an awful lot of negative stuff on there, to be completely frank. People talking about how frustrated they are, how disillusioned they are, how things aren’t working.
And if you spend too much time in there, you can start to absorb some of that negative energy, and start to take on that hopeless feeling that this just can’t work.
Whether you’re a health coach, a life coach, a wellness coach, or anything in between…the bottom-line answer is YES, you can absolutely make good money as a health coach. But it’s not enough to know that you can do it — what’s more important to know is how to do it.
DOWNLOAD MY FREE GUIDE: 3 Ways To Win New Clients This Week
In my most recent YouTube video, I share four strategies for creating a truly profitable, successful coaching business.
Instead of spiraling down into hopelessness…let’s take a look at some actual things you can do. Because I believe health coaching is most definitely a viable career, and you can absolutely make good money doing it. But, like many things in the entrepreneurial space, it’s up to you. You’re in control of your success. So you have to get your mindset right, and you have to be strategic.
I’m going to give you 4 ways to do both of those things.
Tip #1: be authentic & consistent
I’ve paired these two strategies, because I think they go together. Authenticity is key. If you’re trying to do things you don’t feel authentic & aligned with…it will be forced. And it will block you from reaching your true potential. But this also goes hand-in-hand with being consistent. You may feel tempted to go chasing after the latest shiny thing, even if it’s not something you are truly aligned with. You scrap your current strategy, or it just fizzles, and you start off with something new or different. And then you’re kind of showing up all over the map. Your presence, your brand, especially in the online space, won’t be cohesive, in fact it’ll be kind of chaotic. So it’s important to make all your business decisions with authenticity in mind…from your niche, to your target market, your programs, and your marketing strategies….and that you stay consistent and stay tenacious.
Tip #2: charge premium prices
I did a previous video on how to price your services as a coach, and in that video, one of the things I talk about is the benefits of charging premium prices. Having a mindset that owns your own worth in the coaching space, and charging appropriately, so you don’t have to work with as many people, and the people you DO attract truly value you as a coach, they’re ready to do the work, and will get great results. The alternative is charging cut-rates, spending a lot of time on the hamster wheel, and burning yourself out. When you focusing on getting amazing results for a smaller number of clients, you’ll have much more ease with reaching your income goals…and you’ll take care of your mental wellbeing at the same time.
Tip #3: Build a strategic profit plan
Building your business strategically. It’s easy to want to develop a whole bunch of programs right off the bat to diversify your revenue streams. Do you need to create a course? Write an e-book? Run a retreat? Create a mastermind? And when you start going down that path at too early of a stage…you run the risk of getting sidetracked, overwhelmed, and confused. Yes, it’s a good idea to have multiple revenue streams … eventually. But in the beginning, it’s important to just work on one revenue stream at a time, really dialing it in, making it profitable, and then building on that success by layering in another stream. When I’m working with my own clients, that’s what I help them do–gain clarity on their revenue model when they’re just starting out, really optimizing that in the beginning, and THEN pivoting and expanding from there.
Tip #4: Get help
Being willing to pay for mentoring and coaching for yourself is another key strategy that often separates the health coaches who make it, and the health coaches who struggle. Being willing to invest in yourself, and learning from people who have the expertise in a field you need help in. Truthfully, I don’t know anybody who has been successful who HASN’T got their own help, mentoring, coaching. As health coaches, we know the value for our clients when they invest in getting help, support, and expert coaching when it comes to improving their health…but we don’t always turn that around, and recognize when we need the same support in building our businesses. You can, of course, try to do everything yourself, cobble it all together…but usually that means it will take a long time. You may get to the destination eventually, but you’ll make a lot of mistakes along the way, and run through a lot of your savings trying to get your business off the ground. Getting expert advice, or coaching, or mentoring — whatever it is you need for the phase you’re in — can be a significant shortcut to your success.
Okay, let’s recap. Here are the ways you can stack the deck in your favor, when it comes to building a profitable health coaching business:
- Be authentic & consistent
- Charge premium prices
- Build a strategic profit plan
- Get help
Now, if you’re working on all those things, you’re well on your way to building the foundation profitable health coaching business. But … if all you need is a few more clients, I can help with that!
I’ve created a PDF guide called “3 Ways To Win New Clients This Week” and you can grab it for free–it’s 3 things you can do right now to find and enroll new clients into your health coaching business. Go ahead and click the link to download that guide and then get started on the road to a much more profitable health coaching business.