The Income Conundrum: How to Replace Your Current Income Through Coaching

As a high-achieving professional, one of the most significant barriers to transitioning from corporate or clinical roles to coaching is the question: "Can coaching truly replace my current income?"

You're not alone in this concern—it's the primary hesitation for most professionals considering this rewarding pivot. It was the reason I methodically built my business over time before I took the leap.?

Here's the good news: not only is income replacement possible, but many of us who make this leap find their earning potential actually increases.

Shift Your Mindset

The first step in successfully replacing your income is to shift your mindset again. You’ve already done it at least once or twice in your life to achieve the status and success you have currently. The shift to an entrepreneurial mindset is just the next logical step. You’ve been an integral part of either building a thriving organization for someone else, or your own successful practice already. Now, you’re just going to do it for yourself.

Instead of relying on a fixed salary, coaching income is built on value-based services, clear results, and targeted expertise. Recognize your unique strengths, leverage your existing professional network, and step confidently into your new role as an expert coach.

Practical Steps to Secure Financial Stability:

• Identify a Profitable Niche: Determine which area of coaching aligns with your professional expertise, passion, and the market demand. Clarity here is key to income stability.
• Develop Strategic Pricing: Price your services based on the transformation you provide, rather than hourly or session-based rates. Premium pricing strategies aligned with the clear value of your experience and insights are essential.
• Create an Attractive Initial Offer: Begin with an offer that clearly resonates with your existing professional network. This might include executive coaching packages, career-transition programs, or specialized clinical-to-coaching programs.

Real-Life Inspiration

Consider my own journey for example.

Back in 2017, within 30 days’ time, I was facing my second divorce and was downsized from my corporate position. Literally life took a crazy downward spiral.

I decided to join the insurance profession (did I mention I was in my late 40’s?) and started a whole new career as a Supplemental Insurance Agent. Commission based. I made more money and earned more incentives in my first year than I had in the previous four corporate positions.?

That taught me the valuable lesson that I didn’t need the certainty of a salary. I needed the certainty of my capabilities.

Then in late 2018 I re-entered corporate, taking a Business Development position with a wonderful Medicare Insurance provider making a 6-figure salary. It was a great position, very fulfilling knowing I was helping one our most vulnerable populations, and I was very successful in it.

But I still had the call to entrepreneurship. I had attempted it four other times in my career, but always came back to corporate. That all changed in late 2020.

I finally discovered my niche. I finally figured out who I wanted to help through life’s transitions and trials. I finally decided that to live the life of not only financial freedom (I had a great life already) but also of time and energy freedom, I needed to fully step into who I was always meant to be.

You see by November of 2020, I began to work with someone who helped me combine the certainty of my desires and purpose with the certainty of my capabilities and create the business of my dreams. Since February 12, 2021, I haven’t looked back.

You may be a bit unsure while you are reading this, but there are many of us who have found coaching not only replaced our income but significantly enhanced our lifestyle and professional satisfaction.

Ready for Your Next Step?

If you're serious about exploring how coaching can provide financial freedom and professional fulfillment, join me for my upcoming 90-minute Masterclass, "Ideas To Income Elite: Launch Your Online Business with Clarity & Confidence."

In this masterclass, I'll guide you through exactly how to transform your expertise into a thriving coaching business. We'll cover actionable strategies, practical tips, and answer your biggest questions about starting your journey confidently.

Secure your spot today and take the first step towards replacing—and surpassing—your current income through coaching.

I'm having two sessions - March 14th at 2:30 pm E, and March 16th at 6:00 pm E. There are only 20 spots per session, so get your ticket today!

https://ideatoincomeelite.com