How to Launch & Grow a Professional Coaching Practice & Career with Eben Pagan
Nov 17, 2020
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Eben Pagan, a successful online business entrepreneur who built a $30 million company from his bedroom, shares insights on launching a coaching practice. He discusses the growing legitimacy and demand for coaching as a profession, emphasizing the importance of skill development. Eben highlights the need for empathy and active listening in transformative coaching, while offering practical advice for engaging clients. He encourages aspiring coaches to view their early sessions as valuable experiences and invites listeners to join his 90-day coaching program to enhance their skills.
Coaching is increasingly recognized as a legitimate career with substantial income potential, reflecting its growing importance in personal and professional development.
Successful coaches excel in fostering personal transformations by actively listening and guiding clients to reach their fullest potential rather than just delivering results.
Deep dives
The Professional Viability of Coaching
Coaching is increasingly recognized as a legitimate professional career path, with around 100,000 coaches currently practicing globally. Those who take coaching seriously and view it as a calling can thrive in this field, especially as societal norms shift towards coaching being an essential skill in management and leadership. In fact, coaching skills are now being integrated into organizational structures, highlighting the profession's importance in both business and personal development. As this trend continues, the number of coaches is expected to increase significantly, indicating that now is an ideal time to consider a coaching career.
Age and Coaching Expertise
The notion that young individuals cannot be effective coaches is being challenged, as many younger people possess valuable skills and knowledge applicable to coaching. Those as young as 19 have found success in specific niches, demonstrating that age does not necessarily correlate with expertise. Instead of focusing on age, the emphasis should be on one's ability to help others achieve their goals, regardless of their own life experience. Training and developing coaching skills at a young age can empower individuals to provide guidance and support effectively.
Earnings Potential for Coaches
Coaches can earn substantial incomes, with life coaches averaging around $200 per session and executive coaches earning up to $500 or more per hour. This income range reflects the value placed on professional coaching services, emphasizing that serious coaches can make a significant living. For those who successfully transition into coaching careers, the financial rewards can be considerable, especially in specialized areas such as business or executive coaching. As the demand for skilled coaches grows, so too does the potential for lucrative earnings in this field.
Key Skills for Successful Coaching
The most successful coaches excel in fostering transformation rather than just delivering results, focusing on helping clients reach their next level in various aspects of their lives. This involves listening for underlying potential and guiding clients towards significant changes rather than mere transitions. Coaches who can navigate their clients through personal transformations while offering invaluable support and clarity will find themselves in high demand. Developing the ability to ask powerful questions and actively listen enhances a coach's impact, allowing them to help clients achieve their fullest potential.
Eben Pagan started his online business in 2001 from his bedroom, with just a computer, selling a book of dating advice. He built the company to 80 full-time employees, and $30 million in sales, 100% virtually, no office. In 2007, offered his first course on how to grow a business to the $10 million per year level, called Altitude. His students, clients, and people he's mentored have done billions of dollars in sales. He has been interviewed by Tony Robbins and Larry King on how to find opportunity and build a successful company.
Top 3 Value Bombs:
1. It’s incredibly hard for an average human being to figure out what they want.
2. If you know how to listen for and ask to get at that thing that someone is trying to do in their life, and help them to make a plan to do it, that’s when you become valuable.
3. Take coaching seriously. Commit to your coaching career, or atleast, commit to adding coaching to your career.
Learn coaching and join a 90-day course with Eben and get a special offer for Fire Nation - Virtual Coach
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