Last Updated on March 17, 2022 by Ray
If you are wondering – how to start a life coaching business online, there are a few tricks that you will want to know. Some of these steps can help you set yourself apart from others as you build the best business that will work towards your career goals. Here are a few tips to save time and money when you are ready to start a successful life coaching business in 2021.
Find Your Niche
When you have a generalized coaching service, it can be hard to market to others in the community. Your product relies on future outcomes, and many people might not understand that their current situation needs to be fixed until it affects their everyday life. This is often called a “top-of-mind’ problem that requires someone to be motivated enough to invest in solving their issues.
You can apply life coaching tools to almost every problem – business, health, career, life purpose, and relationships. When you specialize in solving those specific problems, you can gain clients and keep them coming back for more sessions. In the beginning, this might seem a little counterintuitive by limiting your potential client base. However, you need to establish your business to help those facing a specific set of issues. Once you have established your niche, you have completed your first step towards a successful online coaching business.
Feel like you are stuck trying to reach that potential in your relationship or career? Schedule an enlightening life coaching consultation with Ray of Solace.
Set Up Your Business Name
This step might seem fun, but it can also be daunting for many people. You might think that all the good ones are already claimed, but that’s never the case. It is important to find a name that captures the unique aspects of your service.
In the beginning, you will be the sole operator of the business unless you’re starting a coaching firm. Your clients will build a relationship with you, so consider using your own name or nickname. With that, you can create a solid visual association with your business, along with establishing your brand.
Remember top-of-mind awareness? That works in this case as well. With your name front and center, it keeps you in focus with your clients. You also have the freedom to add products, programs, or change the direction of your coaching without having to reimagine the entire business.
Related: How To Become a Life Coach
Identify Your Business Structure
While you are helping others with their issues, you have to remember that you are running a small business. You might decide what business structure you want for your coaching endeavors. You can choose from:
- Sole Proprietorship
- Limited Liability Company (LLC)
- Cooperative
- Corporation
- Partnership
- S Corporation
With each structure comes different tax obligations and legal protections. You might want to check out the Small Business Administration and their resources to help you decide on the ideal type for your business. Some of these structures have significant benefits that can help your business run more successfully in the future. If you are still stuck, you will want to seek advice from a licensed certified public accountant.
Related: About Life Coach Ray
How Will You Offer Your Coaching Services?
Many coaches love to connect with their clients in person. This industry is based on relationship-oriented people. However, with web connectivity, coaches have a broader reach into the market. Plus, they can offer more convenient times for their clients.
Coaching From an Office
When you are deciding where to coach, you need to consider your budget and preferences. An office can give your business that professional appearance, and it is excellent for group coaching workshops and classes. If you don’t use it full time, you might rent it out to other coaches in the area. Once your business grows, you could always scale back on the subletting. However, one drawback is that you will have to pay for all the utilities, rent, and high-speed internet. Those bills can quickly add up for your business.
Coaching From Home
When you coach from home, there are a ton of rewards. You don’t have to worry about a commute or working odd hours. Along with that, you can cook and eat at home. However, there are drawbacks to this office too. You need to keep your home and business life separate from each other. All those household distractions need to be kept to a minimum. Once you have set up space in your home, make sure to keep all those boundaries clear.
Related: Life Coaching 101
Choose an Online Platform
Once you have chosen your space, you need to find those tools that can help you provide the best service for your clients. You should invest in a good handset and landline. Noise-canceling headphones are great to have, and they will keep you distraction-free throughout the day. Before you offer services, make sure that your communication means are reliable. You don’t want to schedule an appointment and not be able to talk to your client.
One popular platform is Skype. It is free, easy to use, and accessible from anywhere, including tablets and smartphones. You just need a strong internet connection. Google Hangouts is another excellent service, and it is a reliable way to connect with your clients. If you are thinking about providing a group coaching meeting, try WebEx. This seminar series allows you to offer enhanced features and additional options for your participants.
5 Tips to Start Your Online Life Coaching Business
Now, let’s talk about five tips you can use when starting your business as a life coach:
1. Do your research
Before you start marketing your life coaching programs, you need to know how to find who needs your services. Answer these questions:
- Is there demand for your services?
- Do the people you plan to target have enough income to pay your rates?
- How much will they be willing to pay?
- How saturated is the market already?
2. Understand the commitment
Many people quit their 9-5 and start a business to gain more control over their schedule. That can certainly happen, but it takes time. You’ll likely have to work more hours and harder than ever when starting out, so be prepared.
3. Timing is everything
Pick the right time to start your online life coaching business—it can mean the difference between long-term success and failing at the first hurdle. Consider competitor activities that might hurt your launch, and wait until you know who your clients will be and how to get them to your business.
4. Try new things
Being flexible is crucial to running a successful online life coaching business. Because developing a concept into a business involves lots of trial and error, stay flexible and open to new ideas to help your business do its best.
5. Create your program
Before you start getting serious, think about these three questions:
- What will be the focus of your coaching program?
- What challenges will your clients face?
- What will you help your clients achieve?
With these steps, you can create an online life coaching business in 2021. This field is rewarding, and you will enjoy helping others achieve their life’s goals and maintain healthy relationships.
Are you interested in seeking coaching for your career, life, or relationship? Make sure to contact Ray of Solace to set up a personal life coaching consultation, or for more info on how to start a life coaching business.