Are you a successful business executive interested in a second career? Have you ever considered that you might become a business coach and earn a 6-figure income working from your home office?
If you’re a successful C-level executive or business owner, or even an accomplished entrepreneur looking for a rewarding home-based business you can run part time or full time from your home office, becoming a business coach could be right for you.
Professional business coaching is widely considered to be one of the most lucrative business opportunities on the planet.
Successful business coaches bring in between $100,000 – $300,000 a year. They work 25-50 hours a week, usually from their home office. Business coaches charge their clients an average of $1,500 – $3,000 a month for a few hours of business coaching and consulting time per week…which means their effective hourly rates are around $500 to $750 — and sometimes even more.
But are business owners really willing to pay business coaches that kind of money — and, if so, why?
Business Coaching: Addressing the Needs of Small Business Owner Clients
Small businesses are the backbone of the global economy. In the United States alone, you’ll find more than 29.6 million small businesses. And yet, if you’ve ever worked for an entrepreneurial company, you know that most business owners are in business for themselves because they have a specialized interest or skill — NOT because they are good at business or understand basic management principles! Business coaches fill that gap. If you become a business coach, you’ll be educating passionate entrepreneurs in the business best practices they desperately need to survive and thrive.
And that’s why business coaches make so much money. By empowering the small business owner with new information and tools to lower costs and increase profit, business owners typically realize returns of hundreds of thousands, even millions of dollars from their investment in business coaching. No wonder that they’re willing to handsomely reward the source of such newfound prosperity — their business coach!
It is for this reason that the business coaching has blossomed into a $2.4 Billion industry over the past few years. And demand for business coaches just keeps growing. For an overview on how to consume the growing demand for business coaching with a practice of your own, check out our popular ebook: How To Become a Business Coach.
Is It Possible for ME to Become a Business Coach and Make that Kind of Money?
Maybe. Your first order of business is to found out whether or not you have what it takes to become a business coach. Did you know there’s a statistically validated way to predict your likelihood of success, should you decide to become a business coach? That’s right. You can find out whether or not you‘ll be successful BEFORE you invest your hard-earned time, money, and energy and become a business coach, launching a business coaching practice of your own.
How can we be so certain?
In 2005, as we were onboarding dozens of new business coaches into our international network of business coaching firms, we coordinated a rigorous study of the psychometric data of 55 business coaches who had proven themselves successful using the only metric that really counts: revenue banked from business coaching clients. The results were staggering: in every instance, those who were truly successful — generating anywhere from $20,000 – $40,000 USD (or equivalent) per month in business coaching fees — ALL shared eight behavioral traits that we discovered had a profound statistical correlation to their business coaching success.
This FREE 15-page report reveals exactly how we conducted this ground-breaking study — including a detailed explanation of each of the eight behavioral traits…not to mention a surefire way to determine whether or not YOU possess them. I personally used this research to build a championship team of business coaches in my coaching firm that I later sold for a Million Dollars — an incredible 800% return on cash. This 15-page report is FREE but the information is PRICELESS if you want to be highly assured of success in the highly competitive and lucrative field of business coaching BEFORE you begin.
So, If I Become a Business Coach, How Much Can I Earn?
If you’ve got what it takes to become a business coach, you probably want to know much you, personally, can expect to make. While there are never any guarantees in business, most successful coaches make $100,000 – $300,000 a year. Where you fall in that range is entirely up to you.
What do I mean? Follow along.
If you’re a rookie business coach, you can generally land a business coaching client for about $1,500 per month — or $18,000 per year (and as you become more skilled, you can increase that substantially, winning contracts in the $2,500-$3,500 per month range). Most business coaches can very comfortably handle 10 clients at a time. Even at the lower “rookie” rates, that’s still $180,000 per year — which should net you well over $100,000 after expenses for the typical home office. If you’re willing to serve more clients than that, your earnings push ever higher. Most experienced business coaches can handle as many as 15 or 20 clients at a time.
For an overview of the all the mechanics on building a business like this, check out our popular ebook: How To Become a Business Coach.
ABOUT THE AUTHOR: When Master Business Coach (and former pastor) Eric Dombach started his business coaching practice, he had NO contacts, NO professional experience, and NO marketing or sales skills. Through hard work, dedication, and lots of trial and error, he grew his business coaching practice from $0 to $1 Million in 4 short years. To learn how he did it, download our popular ebook here: How To Become a Business Coach