Are Life Coaches Worth the Money?
Consider the overhead and other expenses that you will incur when calculating the cost of working as a life coach. In order to run a business, you must consider overhead costs, taxes, ongoing education and other expenses. Your net income should be used to determine your rates. There are a few things you can do to help you choose a coach.
Beware of scams
Be wary of life coach scams, and be discerning about the legitimacy of the programs you’re considering. Legitimate programs require student attendance and hours of coaching. It can take more than a year to complete. They will also have a professional website, social media pages, and most coaches engage in content marketing to showcase their knowledge. The following red flags are to be avoided:
Self-proclaimed gurus can use misleading methods like advertising on social media. While they may claim the ‘unlimited power and unlimited possibilities of the universe, in reality their programs are frauds. They use a marketing scheme to get unsuspecting victims to pay a high price for services they have never received. Even if they deliver on their promises, there are often questions about their business practices.
It’s important to find someone who inspires you when hiring a coach for your life. While the term “inspirational” can be subjective, you can get an idea of how they will respond to you based on their personality and energy level. You might prefer someone who is high-energy and inspirational, with a positive, focused approach or someone who listens more gently. If you’re not sure, you can do a quick chemistry call to get a sense of whether you’ll mesh well with the coach.
Be realistic when it comes to fees
Be realistic about the cost of coaching. Often life coaching services are expensive, especially if you need to make a major life transition. A monthly or long-term coaching package can help you save money. The average coaching fee is $250-$750 per session. However, you can save more if your coach offers a long-term or monthly coaching package. You should always check the coaching fees before you hire a life coach. They can fluctuate depending on how many sessions are booked.
When deciding how much to charge, remember that the rate will depend on your level of experience, niche, and demographic. An executive coach, for example, might charge more than a single mom or student. The first year might not be enough to cover all expenses. Profit is important, but you shouldn’t overcharge. This will ensure you don’t lose any money and a steady stream clients.
Offer a free chemistry call
When hiring life coaches, many will offer a free chemistry call. This is a great opportunity to get to know the coach’s personality. Although most life coaches should be inspiring, this is subjective. Some people find it easy to work with high-energy individuals, while others prefer a more gentle, relaxed listening style. A chemistry call will allow you to determine if the style of your life coach is right for you.
A chemistry call can vary in length, but it’s a valuable way to gauge rapport and see if the coach is the right fit for you. Some coaches refer to this call as a strategy session, and it’s a great way to discuss the overall engagement. It’s also a way to communicate what is expected of the coach in the initial sessions, and what the client can expect from each one.