The Pros and Cons of Starting a Life Coaching Business

life coach meeting with a client
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It can be difficult to overcome challenges when you feel overwhelmed, confused and misdirected. Life coaching is a growing field that helps people overcome life's challenges; it can be a rewarding experience for everyone involved -- both coaches and clients.

If you are a compassionate, non-judgmental listener and want to create a business around helping others overcome personal challenges in their lives, a life coaching business might be for you.

The Pros of Starting a Life Coaching Business

Life coaching is the perfect business idea for those that are passionate about helping others and are exceptional communicators. Some of the benefits of starting a life coaching business include:

  • You can run your entire business from home, coaching clients over the telephone.
  • Your earning potential is high.
  • You can start your business while training and taking steps to become certified.
  • It's a rewarding business that allows you to make a difference in others’ lives.
  • You can coach individuals or groups.
  • You can develop products that complement your coaching services for added income.

The Cons of Starting a Life Coaching Business

Some of the potential challenges of starting a life coaching business include:

  • You may decide to invest in formal training and certifications, which can be expensive.
  • You need to be trustworthy, respectful, non-judgmental, and have a high level of integrity.
  • You must be an excellent communicator, including your ability to listen.
  • Much of your time will be spent on the phone or in meetings.
  • You need to be patient, compassionate, and encouraging.
  • You need to be 100% "on" for every session, with every client, regardless of what is happening in your personal life.
  • It can be difficult to build up a client base when you are just starting out.