Training and certifi cation will be your biggest start-up costs, ranging anywhere from $3,000 to $5,000. Certification, although pricey and not yet mandatory, is highly recommended since it will give you instant credibility. Use a search engine with the keywords “coaching certification” or visit CoachU.com to learn more about the process involved in becoming a good personal development coach. Of course, if you’ve spent a lifetime working as a productivity, financial, or image consultant and feel you have the know-how and reputation, you can forego the certification and hang your shingle out for immediate business. Just keep in mind that the International Coach Federation is pushing for a credentials program with formal training and certification. You may still need to do it at some point in your career.
The best way to break into this field is to first find your own coach, a good one who can serve as a teacher and mentor. Keep in touch with your coach as you develop your new business. Even psychologists visit other psychologists after they establish their practices, and it can always help you to stay on top of your game.
As a personal development coach, you may find that you have a tendency to be a sponge that absorbs your clients’ issues and clouds your own. Having someone else to talk to will help you keep your head on straight, which will only allow you to offer better advice and guidance to your clients. Take care of yourself as you help others learn to take care of themselves.
Approx. cost of start-up: $1,500 to $5,000
Approx. potential earnings: $50,000 to $150,000
Typical fees: $150 to $350 per client per month typically, 1–3 phone calls per month are included, with unlimited client access to you via e-mail
Where to promote: Community and local business publications
Qualifications: Certification depends on interest area
Things needed: Depends on area of focus, but in general, a computer would be handy for research and to develop resource lists for your clients
Required staff:No
Hidden costs: Ongoing professional development courses, liability insurance, Web site maintenance and updating, networking
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