Ever break your head brainstorming ideas on how to make money on the side?
Ever search for this on Google?…”how to make extra money from home”
Answer: There are dozens of things you can do but one of the quickest ways to start is to sell your knowledge through coaching. Believe it or not, all you need is a way to promote your services (that can be social media, a website, and/or word of mouth) and a phone. Really. It’s that simple to dive into the business of coaching.
The Harvard Business Review, way back in 2009 (yes, 10 years ago!), reported that coaching is a $1 billion dollar a year industry and you can tap into that as you start to explore internet home based business ideas and other ways on how make extra money from home. Imagine what it became by now. It is huge!
Internet Home Business Idea: Coaching…How it’s Evolved
I have a friend who worked for a counseling agency several years ago, they offered coaching services for women, parents and executives. They had our services set up where they ran groups and courses on specific days of the month and a group of people came in for several hours and got coached on how to be a better leader in their organizations. Or, if you were a stay at home mom for many years and were thinking about getting back into the work force, they would coach you (along with teaching you computer skills) on how to prepare to get back into the workforce. They offered services that ranged from how to whip up a resume to how to dress for an interview and even how to sell yourself during an interview. They even contracted with the local Woman’s Small Business Administration organizations and would have them come out and teach these woman how to start their own business.
At the time, for my friend, coaching and counseling went hand-in-hand. The agency employed psychotherapists and mental health clinicians and he had some coaching to do as part of our job descriptions.
The internet was exploding. Employers were all beginning to set up their job application process online and cyber coaching services were virtually unheard of. In fact, they were just peeking in and many people weren’t even aware that these types of services existed. In fact, my friend’s training in cyber counseling in graduate school was about 30 minutes long. People were afraid of privacy issues and hacking. Others were just late adopters to the online madness that would become today.
In fact, the agency my friend worked for had a one page website that included a scanned photo of the physical pamphlet we handed out to our clients. And yes, they outsourced that task to an web agency which at the time, were far few in between.
Fast forward 15 years and boy have things come a long way. So much so that my friend hired his first business coach online without leaving the comfort of his own home. And as the coaching arena continues to expand, its services also continue to expand. These days people are willing to pay to get coached on just about anything there is. From parenting to mom mogulship to healthy eating to how to increase your odds at gambling. Really, anything.
I think that the best part about coaching in today’s world is that people are much more trusting and have become more accustomed to these types of services online. We’ve become digitalized and want quick fixes. Plus, you can’t argue that it’s pretty convenient too so it’s a win-win situation all the way around. If you are looking to start a business on the side, making money online is much quicker when you offer a service. Coaching fits that mold perfectly.
Coaching as a way to make extra money on the side
Coaches have become a key tool for personal success and are in hot demand these days. As a matter of fact, I remember watching an episode of Giuliana & Bill (Guiliana is the E! news anchor and Bill is her husband who was the original Donald Trump Apprentice) some time ago as Giuliana hired a life coach to help her find more time to dedicate to her new baby.
A time management coach? Really?
Oh yes! And it’s not just Hollywood. It’s you and I and there are plenty of people who are willing to pay for what we know.
In many ways, coaches and therapists have somehow become an accessory. Not that therapy and coaching are the same things but in my opinion the media has a strong influence on how the mainstream adopts a trend. The internet for one, including social media have exacerbated the industry. In fact, I remember when certification coaching programs were only a couple hundred dollars. Now, they cost several thousand dollars if you are interested in becoming a certified coach.
As of now, you don’t need any credentials to become a coach, but that may change in the future since the field is growing fast. The increase price solidifies the high demand for these services and the good thing is that if you are good in something, and have acquired a certain level of expertise, you can literally get up and running in no time.
Think of Hobbies That Make Money
A life coach is very generic but you can help people break through barriers that are holding them back from accomplishing something in life or improving the quality of their life. For example, you can help people create and reinforce the achievement of goals.
Probably the most known life coaches are Tony Robbins and Wayne Dyer. An internet well known perk performance coach and motivational speaker that seems to be exploding right now and has built an multi-million dollar empire with only one assistant is Brendon Burchard.
Another successful life coach turned entrepreneur and longtime Oprah columnist is Martha Beck. Martha Beck started her career in the field as a life coach and is now offering her own life coach training program. This serves as a inspiration to those who have an itch to become an life coach and perhaps have some reservations about the possibility of having success in it.
As a life coach, you can assist in helping people find more balance in their lives, find their purpose or a more harmonious life. Other areas of specialization include helping people become more in tuned with their spirituality or decrease stress by teaching skills such as meditation, Reiki, energy healing or other focused areas. With the advent of personal development and mental health focused televisions shows such as the award winning show Intervention (cancelled) or hoarding issues, you can coach people in sober living or in de-cluttering their homes – just to name a few.
A business coach is more career oriented and is often times positioned to produce more objective outcomes such as formulating a business plan, increasing profits, managing finances, developing profitable marketing strategies and many other objective results. For the most part, the final outcome is usually increasing the bottom line for businesses. If you do a random search on Google for a business coach, you will see the expansive list of opportunities that come up.
When I began doing research for my business, I bought into several business coaching programs that were focused on online business development. This is a great specialization in business coaching because it is a newer and expanding field . It is also an appealing area for most people because starting an online business offers the flexibility of launching a successful business without requiring a large startup investment. Additionally, it can be done while still holding down a full time job.
Business coaches can also include corporate executive coaching to help people blossom into better leaders in corporate America or guide them in how to develop more successful and strong teams in their companies. This area of coaching can also focus on time management and productivity coaching although there are plenty of productivity coaches that cater to the individual unrelated to business.
A few years back, I was a family (parenting coach) for children with behavioral problems. Part of my service included working with school teachers, principals and family members to build a cohesive team in order to help these children succeed.
A Family Coach is multifaceted – think the very popular show Supernanny. Family coaching can help families become more positive and effective units. Specializations can include coaching families with autistic members or special needs. Parenting for families with teenagers is also great as this development period tends to be quite challenging for families and the teens themselves. If you were considering this avenue visit the Parent Coaching Institute for more information on certification.
Working with children involves a great deal of delicateness in terms of the effect on development, laws and licensing requirements within individual states. Make sure you do your research if this is an area you are considering.
Fitness, Health & Wellness Coaching
This is a very lucrative and in demand type of coaching these days. When people think about fitness coaches the assumption is a personal trainer. That’s the original model for fitness coaching but with the internet, you can help others find a better lifestyle which can involve incorporating fitness and nutrition as our culture becomes more health conscious.
The focus of wellness coaching can also involve weight loss. There are many fitness coaches available and many related businesses you can find online. This type of coaching can involve niche-ing and specialization as well. You can focus on coaching a specific group of people as nutritional needs and fitness requirements change as you age or are diagnosed with a specific ailment or disorder. Or, you can plain out focus on changing lifestyles to include simplicity, vegetarian, paleo or stress free living – just to name a few.
The opportunities in terms of targeting for health and wellness are endless and are for the most part, lucrative. However, they can also be the riskiest in terms of liability issues so make sure you do your research and cover your basis and your ass for that matter.
If you are interested in this type of coaching, the Institute of Integrative Nutrition and Coach Training Alliance have really great programs.
Other Potential areas of Coaching
- Dating: train people how to be better dates and land their soul mates.
- Career: thousands are people are faced with the challenge of transitioning into a new career. You can help the with brainstorming options, providing assessments or helping them transition from retirement into a new career due to financial reasons or just to alleviate boredom.
- Spirituality: help people become more in tuned with their faiths or spiritual inclinations and how to make their faith work for them.
- Law of Attraction: help people become in tuned with the laws of nature, metaphysics and quantum physics in order to bring in more abundance and prosperity into their lives.
- ADD/ADHD: help people learn ways to stay focused and productive.
- Writing Coach: help people get published or write for big publications.
- Public Speaking: help people become great at public speaking for speaking gigs.