How to Make 6 Figures As A Life Coach? (11 Best Ways in 2024)
So you want to make six figures as a Life Coach? Good for you! Being a Life Coach is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a Life Coach - business ideas you can start to achieve such income. Keep reading to learn more!
1. Become an affiliate marketer ($55.3K/month)
As a Life Coach, you could significantly supplement your income by becoming an affiliate marketer. This business model involves promoting other companies' products or services and earning a commission for every sale made through your referral. Given that you already have a platform and an audience, you could leverage your existing network to drive traffic and generate sales.
Affiliate marketing is a low-cost venture, ideal for entrepreneurial-minded individuals looking to start a business on a budget. You could sign up for affiliate programs in your niche, such as self-help books, online courses, or wellness products, and use unique tracking links to earn commissions. By effectively integrating affiliate marketing into your coaching business, you could create a substantial additional revenue stream that brings you closer to making six figures.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
2. Start a podcast ($97.9K/month)
Starting a podcast could be a powerful way to supplement your income as a Life Coach and eventually help you make six figures. By sharing your expertise on your podcast, you could attract a dedicated audience interested in personal development, offering you opportunities to convert listeners into clients for your coaching services.
Moreover, with a consistent focus on valuable content, you could attract sponsors and advertisers, generating additional revenue streams. Promoting your podcast through social media, online communities, and word of mouth could significantly increase your reach and influence, laying the groundwork for a successful side business or even a full-time venture.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
3. Digital products ($261K/month)
Creating and selling digital products could serve as a powerful avenue for you to achieve a six-figure income as a Life Coach. By developing eBooks, online courses, or membership sites, you could offer valuable resources that cater to a broad audience, providing continual support and guidance without the constraints of one-on-one sessions.
The beauty of digital products lies in their low overhead and ease of distribution, allowing you to scale your business efficiently and reach clients worldwide. Additionally, with the increasing demand for online self-improvement tools, leveraging your expertise to create high-quality digital offerings could position you as a thought leader in the industry and drive substantial revenue growth.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
4. Start a blog ($44.9K/month)
Starting a blog could significantly supplement your income and even help you achieve six figures as a Life Coach. This highly sought-after and lucrative venture allows you to reach a broader audience, thanks to the fact that 77% of internet users read blogs and blogs have been rated as the 5th most trustworthy source of online information. With approximately 409 million people viewing over 20 billion pages each month, the potential for financial gain is considerable.
By choosing a niche you’re passionate about and crafting a solid content strategy, you could engage a large audience, create a loyal following, and open up various income streams such as affiliate marketing, sponsored posts, and online courses. Establishing a blog not only offers a creative outlet but also the flexibility to work from anywhere at any time, making it an ideal side hustle that could grow into a full-time, profitable business.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
5. Start a freelance writing business ($65.5K/month)
Starting a freelance writing business could be an excellent way for you to supplement your income and potentially reach six figures as a Life Coach. Due to the flexible nature of freelance writing, you could work from home and seamlessly integrate writing projects into your existing schedule. This allows you to broaden your revenue streams without compromising your coaching commitments.
You could leverage your expertise in life coaching to write articles, e-books, or even course content related to personal development, thereby attracting a paying audience. By honing strong writing skills, meeting deadlines, and staying updated with current writing trends, you could build a successful freelance writing business. This side business could not only boost your income but also enhance your credibility and visibility in the personal development space.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
6. Create an online course ($91.9K/month)
Creating an online course could significantly boost your income as a Life Coach by allowing you to monetize your expertise on a larger scale. By identifying educational gaps in areas you're passionate about, you could develop engaging video lessons and supplementary materials that attract a diverse student base. Whether you choose a self-paced format or a cohort-based structure, the passive income potential is substantial.
As an entrepreneurial-minded individual, launching an online course platform enables you to share valuable knowledge while keeping startup costs relatively low. This approach could attract lifelong learners eager for convenient access to your insights, providing a lucrative avenue to reach six-figure earnings in 2024. This method could also serve as a flexible side business that complements your coaching practice, expanding your impact and income simultaneously.
How much you can make: $350 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
7. Start a career coaching business ($48.5K/month)
Starting a career coaching business could provide a lucrative opportunity to supplement your income and help you reach six figures as a Life Coach. By offering personalized guidance and strategic support to clients navigating professional transitions, you could design custom sessions that cater to various needs such as resume building, interview preparation, and workplace advancement.
This flexibility allows you to meet clients both in-person and virtually, expanding your potential client base and enabling you to offer specialized advice and accountability that empower significant breakthroughs. Additionally, if you have speaking talents and human resources expertise, launching a career coaching business could help you monetize your motivational abilities while enjoying the freedom to set your own schedule.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
8. Become a social media influencer ($57.4K/month)
Starting a side business or entirely shifting your focus to becoming a social media influencer could significantly boost your income as a Life Coach. Social media platforms like Instagram, YouTube, Facebook, and TikTok have become vital for brands looking to connect with their audiences. By establishing yourself as an influencer, you can leverage your expertise to build credibility and reach a vast audience interested in personal development.
As a Life Coach, you could share valuable content, engage viewers, and build a loyal following. Brands are eager to partner with influencers who can authentically endorse their products and services, offering you lucrative partnership opportunities. By strategically positioning yourself in this space, you could open doors to additional revenue streams, helping you reach six figures.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
9. Start an ecommerce store ($287K/month)
Starting an eCommerce store could significantly supplement your income and help you reach your goal of making six figures as a Life Coach. By selling products or services online, you could tap into a wider audience and leverage the booming eCommerce trend, which offers consumers unmatched convenience and efficiency. This allows you to reach potential clients who may not have otherwise sought out your coaching services directly.
Additionally, an eCommerce business comes with the benefit of lower overhead costs and increased flexibility compared to traditional brick-and-mortar setups. You could create a store selling products like self-help books, coaching resources, or even branded merchandise that aligns with your coaching philosophy. This diversification of income streams could provide financial stability and pave the way for substantial growth in your earnings.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
10. Start a social media marketing agency ($116K/month)
Starting a social media marketing agency could be a highly profitable side business that helps you make six figures as a Life Coach. This venture offers the flexibility to earn extra income without demanding a significant time commitment, thanks to the ability to automate using social media marketing tools.
By developing a robust social media marketing strategy, you could efficiently serve a wide range of clients and simultaneously market your life coaching services. An engaging agency portfolio would allow you to attract and retain customers, further boosting your earnings and providing financial stability for various needs, whether it’s covering utility bills, financing education, or saving for a vacation.
How much you can make: $1,000 — $500,000/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
11. Start a youtube channel ($146K/month)
Starting a YouTube channel could be a powerful strategy to supplement your income as a Life Coach and potentially reach a six-figure earnings. By leveraging YouTube's established monetization system, you could transform your passion for content creation into a consistent revenue stream. Sharing valuable coaching tips, life advice, and success stories could attract a large audience, helping you meet the YouTube partner program’s requirements of 1,000 subscribers and 4,000 watch hours.
Once you reach these benchmarks, you could monetize your channel through ads, sponsorships, and even selling coaching services or digital products directly to your viewers. Additionally, building a following on YouTube could enhance your credibility and visibility, leading to more client referrals and opportunities beyond the platform. By investing time and effort into consistently producing high-quality content, you could create a new, lucrative income source while amplifying your influence as a Life Coach.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
