How To Start Your Own Financial Coaching Business – So let’s talk. We can create a plan that meets your priorities today while saving for your future goals.
There are many business owners and coaches who tell you how fast and easy it is to make six figures in your business, but when they succeed on the first try, they are either full of rubbish or too much! I’m here to keep it real, if you can’t tell already.
How To Start Your Own Financial Coaching Business
Please note this change. Think about how you feel when you leave work or turn off the computer on Friday and how you will feel on Monday morning. All these are signs. If I had been paying attention, I wouldn’t have missed them!
Back Office Financial Coaching
Not only will you have a coach with expert guidance, a support system to help you achieve your goals, but you’ll also have a community of daredevils who are or have been in the same boat! Not only can you learn from others in the group, but others can learn from you! We all have something to offer!
Remember, we all have the ability to provide for others! It may not seem obvious to you, because these skills can come easily to you! One is loved and preferred, the other is hated and shunned! Dream big and believe you have something to offer!
If you’ve already hit a wall of burnout and resentment, it’s time to step back and identify what’s draining your energy and making you feel bad. Focus on how you can do more of the things you enjoy and less of the things that tire you. The truth is, even if you’re doing something you love, you’re going to have to do things you don’t like.
Social media has become more than just a place to share photos and thoughts with family and friends, but also a marketing tool for businesses and a place to build a community of like-minded people. Starting or growing your business on social media platforms like Instagram, Facebook or Tiktok is something people do every day! Coaching is a billion dollar industry. As a coach, you help and advise people to improve their skills and achieve their goals.
Financial Coaching Workshop
As a financial coach, you help people improve their financial habits and achieve their money goals. The point is, this is an industry that needs knowledgeable trainers.
35 percent of Americans with credit files have debt in collections. There is only 46% reserve of rainy days. 24% of millennials demonstrate basic financial knowledge. And so on.
At the same time, 25 percent of Americans say they worry about money all the time. Money is more stressful than relationships and work.
But what exactly can you do for your customers? What are the benefits of a financial coaching business?
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Financial coaches help their clients improve their ways of making money. For example, coaches can help coaches:
Financial training has significant results, according to a 2013 study by the Citi Foundation and NeighborWorks America.
More than half of the clients who had no savings at the beginning of the training reported that they had saved some after participating in the program.
Two-thirds of those who were worried about finances at the beginning of the program did not feel that way after the training.
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And depending on which group they were assigned to, they saved $1,200 and reduced their debt by $10,650.
The best way to start helping your customers? Through one-on-one, one-on-one coaching sessions. You can then create group programs and online courses to grow your business.
You start working for yourself. This means you decide when and where you work, not your boss telling you what to do.
How do you know all this? Because before I started my business, I was where you are now. A 9-5 demanding as without purpose. I could not set my own hours and was bound by the days off allowed by my employer.
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That’s why online coaching seemed like such a great option. I realized that I could start my own business while still working 9-5 and make a lot of money quickly.
Within four months, I quit my day job and made 6 figures in my business (a Facebook ad coaching business at the time).
Today, I’ve helped thousands of clients do just that (including several financial coaches). You can read all about it here.
As a coach (and business owner), you decide how much money you make. This is one of the great advantages of this line of work.
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Also, as a financial coach, you can easily show tangible results (such as money saved or generated or debt paid off). This means it’s easy to help people open their wallets with joy.
Of course, you have to start somewhere until you have the power to make people see your worth.
My suggestion is to start selling 3 month financial coaching packages starting at $1500. It’s an unstoppable commitment to your clients and you learn your skills as a coach.
Now you might be saying, “That sounds good, Louise… But can I justify accusing people of financial hardship?” you might think.
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It’s not about getting money from them. It’s about you helping them get out of debt.
People seek help to solve their problems. And they are smart. (At least the kind of people you want to work with.)
If you can show that you are helping your clients get results (with your results or someone you help) and that you know about money management, you can help your clients get results.
Ultimately, as a coach, you are responsible for who you work for. If you don’t think someone is going to get out of debt when you first talk to them, or for some other reason you don’t think you should work with this person, then it’s not worth taking them on as a partner. customer. (Instead, work with one of the thousands that will be much better.)
Start Your Financial Coaching Business This Year With The Cft School
Not sure what it takes to become a money coach? There is no accident; do not worry. This chapter will tell you whether you should (or shouldn’t) start building your own financial coaching business.
Here’s an easy “test” you can do. Think about your skills and experience. Then ask yourself, have you helped someone manage their money and get great results? Or you? Or do you have professional experience in money management?
Either way: As long as you get results, your current experience doesn’t matter. This is because you can show that you can help others achieve results with your results. This means you are qualified to become a financial coach.
(You say, “I have the skills, but not the results. Does that mean I can’t be a coach?” If so, there’s a simple solution. Get out there and help people, friends, or family. You . quickly demonstrate value your for customers with results.)
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My client, Lucy Moy, left her six-figure job to spend more time with her family while building a real estate portfolio that brought in about $10,000 a month. Now he helps others build their real estate portfolios.
Ryan Chau helps people make smart real estate investments through his real estate investment strategy. Ryan has earned over $10,000 in monthly passive income investing in single family real estate.
To give you an example of how a coach can help her clients transform their financial lives: My client Jacqueline Peterson is a mind coach. He changed his attitude about money to earn a 6-figure salary at his corporate job and eliminate over $150,000 in debt. Although Jacqueline does not specialize in helping people improve their thinking about money, she is a great example of how coaches can use their expertise to help their clients achieve great results.
Yes, in some very special cases you will be required to obtain a degree or certificate. These are special cases.
Episode 247: What Makes A Profitable Niche & How To Pick Your Ideal Client For Your Financial Coaching Business — Wander Wealthy Podcast
In most cases, you do not need a certificate. This is a way to teach certification companies to earn more money.
Instead, you can open a store, start working with clients (at a much slower pace than you ultimately thought) and get results.
In this way, you will provide financial training services at a low cost, improve your skills, become an excellent trainer and start earning more.
A financial coach is not a financial advisor (they usually have completely different requirements for their services). As a coach, you provide support and guidance, not selling or recommending financial instruments. You don’t even manage the trainer’s financial portfolio for them.
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Now you know how to become a financial coach. Next: What it takes to build a successful financial coaching business.
This means that yes, technology changes and the tactics you use need to be updated accordingly. (Example: What social media platform
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