To make money as a business coach, you need a combination of personal qualities, professional experience, and business-related skills. Here's another useful fact about what a life coach's salary could be, compiled from Payscale. The coaching industry has expanded over the years, as many business owners consider business coaching to be a valuable investment when it works. I have earned hundreds and hundreds of thousands of dollars with just *one* of my group professional training programs.
Before starting his coaching career, Dave was a startup executive who spent more than a decade building high-growth companies. At any given time, it seems that there is a large percentage of trainers who are eager to have more paying customers. These are some data, collected by the friendly people at IBIS World, that analyze the state of training in the United States. I have also surveyed real coaches from different fields to find out the real income figures, because I believe in verifying my data.
You probably know at least one person who proclaimed to be a life coach and then received crickets in response. Companies have a wide spectrum of specialties, such as human resources, sales, business finance, marketing, legal issues and leadership, just to name a few. Since coaching is not a regulated industry, you, the client, have a responsibility to find the right business coach. These programs are beneficial to the coach because they allow them to earn more money by serving many individually rather than one-on-one.
Group programs tend to be structured with a cookie cutter or a one-size-fits-all approach when each business owner follows their own unique path to building their business. Since life coaching is a more streamlined sales process (you don't need to convince tons of people in human resources and hire through a large company) and cheaper for people to buy, it's sometimes easier to get customers.