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How To Start a Life Coaching Business In 12 Steps

July 30th, 2019 | no comments

Hi love, I’m honored to meet you in this moment in your life and to show you the fastest way to start a life coaching business.  I’m Jeannine Yoder, creator and founder of the most personal, high-touch and soulful life coach training and certification program for women, Mentor Masterclass.  My free Mentor Masterclass Self-Discovery Week, seven days of soulful practices to help you become a successful life coach, is one of the most popular free online coach training programs available to new and established coaches. 

You’ve landed on part four of a 4-part podcast series, Become A Life Coach: Everything you Need to Know to Start and Grow a Successful Coaching Business + Clear Action Steps to Begin Today:

Today I’m answering all your questions about how to start a life coaching business so let’s get started.

How to Start a Life Coaching Business: 12 Steps

How to Start a Life Coaching Business

Step #1: Wondering how to start a life coaching business? Establish coaching as your life purpose — and commit to it.

It might seem obvious that in order to know how to start a life coaching business you must believe it is your purpose, but it’s easier than you think to skip this step!

I’ve always known deep down coaching was my purpose but I never knew it was a lucrative career and had no idea how to start a life coaching business. Even if our stories aren’t quite the same, you and I share a common bond: our deep desire to live our lives doing work we love and a deep desire to respond to life’s invitation to live our unique purpose.

I grew up with two parents who were drug addicts. As they entered into recovery, I went to many Narcotics Anonymous meetings growing up. As I sat there in those rooms with people who’d hit rock bottom in their lives, I noticed how they used community tools to come together, and spiritual books to teach them new ways of living. I saw how they committed to showing up, and how they practiced having a better life. I thought if these people are able to do this, what can we accomplish when we are not at rock bottom and choose to go through a process of self discovery.

I really believe this is where my interest for coaching began. I believe we all have challenges and events that are meant to happen to us, designed to reveal our path, show us our soul calling  — to wake us up to our unique gifts and our purpose in this lifetime. (I talk about this at the 3:13 point in the episode if you’d like to listen in.)

Acting was my first career. I was a musical theater performer pursuing a dream of being on Broadway. I loved creating characters, standing in front of an audience, and inspiring them through music, art, dance, and storytelling, to show them there are greater things possible for our lives.

I loved inspiring the audience, creating the characters, and understanding what made them who they were. I’ve always had a deep interest in people and a deep passion for understanding what holds women back in mediocre lifestyles. 

Recently, my mom passed away, still lost in her addiction. She died in a traumatic way alone in her home, the result of her addiction to pills and alcohol for many, many years — and never being able to overcome it the way my father had.

I’ve often asked myself this deep question: What makes some women feel like the victim of their life circumstances, while other women rise up to become leaders, have careers that they love, use their passion, skills, gifts, and talents to heal from their wounds — and give back to the world? 

Ultimately, this is how I arrived at transforming my career as a struggling artist to a career where I could make great money, enjoy time and location freedom, and have the life that I want to live.  When I discovered how to become a life coach, not only did I take every step, I became a wildly successful one. As a life coach, I can be home with my children or together my husband and I can travel the world.  In fact he was able to quit his job when I started my coaching career to pursue his dream to become an entrepreneur as well. 

Since 2013, I’ve been leading a nearly one-million-dollar a year coaching business, running my signature life coach training program Mentor Masterclass, where I work 21 hours or less a week, travel leading retreats for women around the world, stay home with my children, and do work I truly love…

If life coaching is your purpose, you’ll feel a sense of synchronicity and alignment. You’ll come to feel ready to fully commit and do what it takes to get to the other side.

Ask yourself:

  • Is this my life purpose? 

  • Am I ready to commit to this? 

If you’re feeling a deep inner YES (or think you could feel that soon), let’s move on to step two of how to start a life coaching business… 

If you are not sure if life coaching is your purpose and you are not 100% committed, take my free self discovery week training and by the end of the 7 days of soulful practices you will know for SURE and be ready to move onto Step #2.

Step #2. Get the best life coach training.

Master coaches are highly trained. Coaching is not just about giving advice — it’s about being highly skilled in understanding the neurolinguistics programming of the human mind, the body, soul, spirit, and energy system. 

With high quality training, you’ll learn tools, techniques, and conversation models that will give you the confidence to transform lives. You also want to get training with experts in the field that can teach you tricks and tips so you can learn from their mistakes and discover how to start a life coaching business in a way that feels authentic and aligned to you. 

In Mentor Masterclass, my signature life coach training program, I introduce my students to 12 celebrity mentors who have created successful coaching business in different ways.  I do this because there is not only one way to start a life coaching business. By introducing you to a panel of successful women mentors who are committed to helping you find your way, you will build a sustainable business from day one. (I chat about this at the 10:15 point in the episode.)

Step #3: Hire your own coach and you will know how to start a coaching business that includes paying clients. 

If you want to master selling your coaching services and convincing people that coaching is a worthwhile investment, then you should have personal experience and have hired a coach for yourself — better yet, hire a coach who coaches coaches. 

I’m known as the coaches’ coach, and so many women will hire me because I have the experience of high-level tools and techniques to help you transform and reach your goals, but also the business skills to help you work through the inevitable challenges that will come up in the first year of building your business.

In my signature coach training program, Mentor Masterclass, I am there to intimately coach the women through the first year of learning how to start a coaching business.  Not only do they get me as their coach, they get high level mastery training and business training.

Step #4: Get coaching clients. 

You don’t have a business if you don’t have clients. If you want to go into this deeper, you can listen to episode three from this series, How to Get Coaching Clients where I teach you everything you need to know.

There are three types of clients.  Free, trade and paid. Practicing coaching with real clients is the key to starting a coaching business.  This eventually leads to an energy exchange and then income.  

Step #5: Establish a niche.

Once you’re making some income in your business, you’re ready to scale your life coaching business by making it more professional, more legit, more real and focused.

You have skills, gifts, talents, and qualifications you use best, and people you’re most comfortable serving — do you know what they are? Zeroing in on the unique core asset of your business helps establish your corner of the coaching industry and draw high paying clients to you. You’ll stand out from everyone else and make easier income when you know what community you serve, what problem you solve and how. (I talk more about this at the 13:10 point in the episode)

And again, if you’d like to dive deeper into this, listen to episode three from this series, How to Get Coaching Clients, where I explain exactly how you will come to know what your unique niche is.

Step #6: Name your business. 

Too many coaches think this is step#1, but it’s not! 

You won’t need things like a business name, website, etc. until you’ve done the first five steps above. Only then are you ready to actually give your business a name. 

Most likely, you’re going to end up naming your business your actual name. By this time, you’ll feel confident, know exactly why you’re an expert, and feel perfectly comfortable naming your business after yourself. 

The only reason you wouldn’t call your business by your name is if you plan to sell your business or have someone else run your business for you down the road.

Using myself as an example, my overall coaching business is called Jey Productions, my website is my name and I also have other programs and services that other people may run one day. Mentor Masterclass is a separate business I run within my coaching business. 

And as you’re naming your business, don’t forget to add a fun tagline! I’m Jeannine Yoder, the coaches’ coach.  I run Mentor Masterclass: An all in life coach training program for women who want to learn from the best supported by a soul powered sisterhood.

Step #7: Determine your business structure. 

Once again, this step might seem a little late in the process at first, but really you don’t need to worry about this step until you’re making around $25,000/year in your business. 

As you decide whether you want to run a brick and mortar practice or run it mostly online, you’ll also start to get clear about some of your taxing structures, write-offs, and other things that will make you an official life coaching business. 

An LLC is usually the best way to start out with your coaching business. If someone ever sued you for something related to your business practices, the LLC structure would prevent them from going after your personal assets — any settlement could only come from the income within your business. 

On top of that: when you’re becoming a life coach, there are tons of beautiful and exciting write-offs. Your life coach training is one of those things. It’s helpful to start a business structure when you’re in your first life coach training program, and I teach all my students how to do this so that their investment in the program is free. (I explain more about this at the 15:30 point in the episode.)

Step #8: Decide how you’re going to be a service. 

Are you going to lead your sessions primarily from a home office? Will it be mostly online, over the phone or are you going to be in person? 

The answers to these questions will help you set up some other platforms, ways of serving, and a workspace in the perfect place to run a successful life coaching business.

Step #9: Choose your platform and way of serving in order to start a life coaching business.

You may be offering one-on-one coaching sessions, group coaching sessions, or a mastermind that runs virtually or in person. You may have products that run live or are evergreen. You may do speaking engagements or write a book. And you may do all these things online or in person.

There are so many amazing possibilities for your business! 

You’ll want to get really clear about choosing your platform and your way of service. Listen to episode one in this series and you’ll have a better idea of all of the revenue streams available to coaches.

Step #10: Don’t be a lone warrior.

Don’t do it all alone! Get support, experience the intimacy of being connected, and find a sisterhood within the wellness and coaching industry. You want to make sure you’re getting out there, meeting people, and establishing friendships and joint venture partnerships with other successful and like-minded women. (I chat about this at the 20:39 point in the episode.)

This is one of the main reasons my Mentor Masterclass graduates are successful, I connect them with a soul powered sisterhood as part of their training.

Step #11: Scale your business to next-level success. 

If you start your life coaching business as most people do, with one-on-one coaching and offerings, then you’ll soon be ready to consider adding other streams of income and scaling your business to next-level success.

And if you haven’t already, be sure to listen to the first episode in this podcast series, What Does a Life Coach Do? You’ll learn how to tap into this business model.

Step #12: If you still have questions about how to start a life coaching business, try out these extra resources from me to you…

If you’re ready to learn even more about how to start a life coaching business, join my free Mentor Masterclass Self-Discovery Week. It’s seven days of soulful practices to help you become a successful life coach.

I’ll cover these questions:

  • How do I start on online coaching business?

  • Does a life coach need a biz license?

  • How do I market my coaching business?

You’ll get a video and worksheet each day to help you actually step into the role of a coach. Start and grow your coaching practice right now with self-confidence, inner guidance, and feminine power.

You’ll also learn how I got paying clients my first week in business and how I filled my practice within 14 months of becoming a coach. I’ll help you discern whether life coaching is the right path for you, and share how you can get certified — and move in the direction of making money as a coach today.

Sign up for the free Mentor Masterclass Self-Discovery Week right now.

These questions are probably still on your mind:

  • How do I start a home based coaching business?

  • How to start a 6-figure coaching business in 2020?

  • How to start a coaching business that actually makes money? 

You can also join my LIVE webinar today, How to Start and Grow a Thriving Coaching Business: Discover the Self-Confidence Skills and Inner Trust to Build a Coaching Practice with Heart, Soul, and Feminine Power

Make sure you’re caught up on this podcast series, Become A Life Coach: Everything you Need to Know to Start and Grow a Successful Coaching Business + Clear Action Steps to Begin Today:

Finally, make sure you’re on my list to get free weekly support, action steps, and resources delivered straight to your inbox. 

Take all of these actions and free trainings and you will know how to start a life coaching business in every possible way!

Now comment below: What questions do you have about how to create a life coaching business? Let me know, I read and respond to every comment!

Jey
 

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