One of the fastest growing online industries today is the online e learning industry.
Back in 2015 this industry easily topped $100 billion and it just kept on growing!
Online coaching is a big part of that industry and it’s a part that isn’t exclusively reserved for these or that kinds of online education institutions. Every professional worth their salt can become a respected online coach with a bit of effort. Whatever the line of work you’re in, you can probably sell coaching online, provided you know what you’re doing.
There are hundreds of success stories about former CEOs of top companies becoming successful coaches and selling their expertise online for big bucks. You’ll also find a lot of info on online fitness coaches and how they make a great living doing what they love.
But did you know that a chemist can also become an online coach and make more than $ 500,000 with his very specific niche knowledge? I bet you didn’t - but that’s exactly what Perry Romanowski did!
The only thing that’s separating you from all these people is the fact that they’ve had a plan and you don’t. They were willing to invest a couple of hours of work every day on ensuring their future laptop lifestyle and you’re not.
Doesn’t that bother you?
If it does, read on!
Who Can be an Online Coach?
There are no barriers to becoming an online coach in any particular field, though some areas are over-saturated and you’re going to have to really stand out to make it work. Overall, if you have what it takes (meaning you’re a pro at what you do) and you can easily teach others how to achieve the same level of mastery through a scalable model, online coaching can be a very lucrative business.
That said, you’re going to have to be exceptionally good at marketing your services at the beginning so you break through the clutter. It’s either that or paying a professional to help you attract business. Developing a successful online coaching practice can end up costing you a pretty penny.
Way to Make Money with Online Coaching
There are tons of ways to make money with coaching people online. Here we have to differ between two things: what you’re doing and how you’re doing it.
When it comes to what you’re doing, your coaching can be related to (but not limited to, of course):
Business - business strategists and people well-versed in business areas such as marketing, finance, and other can make a bundle helping brands and SMBs step up their game.
Lifestyle - some people just don’t know how to go through and life coaches are making a killing teaching them how to cope and, basically, live.
Fitness - Online fitness programs are becoming increasingly popular and some big names are making millions every year helping others to stay fit.
As for how you’re doing it, there are also several options:
Coaching through a blog or a newsletter
1 on 1 coaching via Skype or Google Hangouts
Group coaching via webinars
Organizing online courses
How to Get Started
Getting an online coaching business of the ground isn’t particularly easy but it can be done successfully provided you have a system in place.
STEP 1 - Love it or leave it - if you’re going to do coaching you have to be passionate about the subject, otherwise you won’t do a good job.
STEP 2 - Know your stuff - make sure you have extensive knowledge in the field your offering coaching in because you don’t want to come off as a fraud.
STEP 3 - Get online and make a dent - open a website and publish some really kick-ass content that will help people. Once you get some response, start working on your pitch and coaching content you want to sell.
STEP 4 - Define your ideal customer - you can’t coach everybody. Define your ideal customer, build their profile, and go after them.
STEP 5 - Build templates that will work for your ideal customer - that way you’ll be able to cut down on the amount of work you need to do for each individual client.
STEP 6 - Scale your business - 1 on 1 coaching will only make you rich if you’re charging $1,000 per hour. If not, consider organizing group mastermind courses or selling online courses.
STEP 7 - Use online platforms - getting clients can be tough but there are online coaching platforms where you can list your services and get more leads.
1. Coaching Courses
2. Coaching Platforms
3. Coaching Tools
If there's something you're really good at, chances are that you can sell it to others who suck at it.
Coaching can be a nice little side income or it can develop into a full-fledged business earning you thousands of dollars every month - it's entirely up to you!