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Life Coaching Small Business Idea

The Pros and Cons of Starting a Life Coaching Business

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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 very 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

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

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 what is happening in your personal life.
  • It can be difficult to build up a client base when you are just starting out.

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