How to make money as a coach in 2025 is the focal point of this episode. Jo Lott explores different strategies for coaches to make more money next year, covering industry trends, innovative coaching models, and sustainable business practices.
Episode Timestamps:
If you're a coach wondering how to make money in 2025, this episode is your roadmap.
Three big takeaways:
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Hello and welcome to Women in the Coaching arena podcast.
Joanna Lott:I'm so glad you're here.
Joanna Lott:I'm Jo Lott, a business mentor and ICF accredited coach and I help coaches to build brilliant businesses.
Joanna Lott:I know that when you prepare to enter the arena there is fear, self doubt, comparison, anxiety, uncertainty.
Joanna Lott:You can tend to armour up and protect yourself from vulnerability.
Joanna Lott:In this podcast I'll be sharing honest, not hype, practical and emotional tools to support you to make the difference that you're here for DARE greatly you belong in this arena.
Joanna Lott:Hello, welcome to the 90th episode of Women in the Coaching Arena.
Joanna Lott:I am so glad you are here.
Joanna Lott:It feels very exciting to be on my 90th episode and I must plan some sort of party or something for my 100th episode.
Joanna Lott: w to make money as a coach in: Joanna Lott:This is an honest, not hype episode with actionable things that you can implement following today's session.
Joanna Lott:So let's start by thinking about what's working now, what trends do we need to keep an eye on and how can you thrive in your business next year?
Joanna Lott:So I did some research into what's changed in the industry recently and I always do this for my workshops as well.
Joanna Lott:My latest research shows that people are now viewing coaching as more like a necessity than a luxury.
Joanna Lott:So that is really great news.
Joanna Lott:It's not unusual for an individual to seek a coach now, whereas obviously years ago that was not the case and it was reserved for really senior professionals who would have it bought for by their workplace.
Joanna Lott:So this shift will open doors for you to expand your reach and access everyday people by addressing everyday problems.
Joanna Lott:My next finding is that specialization rules in the increasingly competitive market we are now in.
Joanna Lott:Generalists have lost ground and coaches who focus on niche markets like hormonal health, leadership for hybrid teams or leveraging and scaling businesses are better positioned to stand out and command premium pricing.
Joanna Lott:So it's more like a micro niche now.
Joanna Lott:So leadership is not really a micro niche, it's a very, very wide niche.
Joanna Lott:So the more you can find your area of specialism, the more your audience will see you as essential to their success.
Joanna Lott:The next change is tech and automation in coaching.
Joanna Lott:So AI powered tools like for example I use Fathom to record all my sessions and create notes for me afterwards.
Joanna Lott:That used to take me probably an hour to download the zoom, then upload the Zoom recording into my portal and now all I need to do is copy one simple link into my portal to share the recording and notes afterwards which are really really good notes as well.
Joanna Lott:Other AI is really changing the industry like ChatGPT or my favorite is Claude.
Joanna Lott:This really helps to become your own thinking partner with creating marketing in your business, reviewing things for you.
Joanna Lott:You do need to take it with a pinch of salt.
Joanna Lott:So don't get too carried away with AI because there is a downside because it doesn't always have real knowledge of what is for example a good niche.
Joanna Lott:Because if you put in there I help people improve their life, it will say there are thousands of people wanting to improve their life.
Joanna Lott:This is a really great niche.
Joanna Lott:When sadly I know through real life experience very few people are buying that kind of general vague life coaching.
Joanna Lott:Other AI tools and technology are really useful.
Joanna Lott:For example, I send loom videos to my clients all the time, reviewing their websites, chatting through issues and it's a great way of providing support exactly when people need it without us having to try and arrange to get a call in the diary.
Joanna Lott:It's been an absolute game changer in my business being able to do this and then provide support within like an hour or two of someone asking for it so they can move forward quicker.
Joanna Lott:That means they will make more money in less time because they won't stay stuck waiting for a group call or waiting for a one on one call to clarify their thinking.
Joanna Lott:We can literally chat it through there and then Slack is another technology I use so we have a communal Slack group but we also have direct messaging so you can just get the help when you need it and also share wins, share learnings.
Joanna Lott:Moving from Facebook to Slack was a real improvement in my business because it's now extremely active and extremely organized.
Joanna Lott:The final thing I will touch on with regards to the industry changing is ethics and standards.
Joanna Lott:There are more qualifications and accreditations that you can do.
Joanna Lott:So the industry is trying to become more regulated, but as you will know if you are in the industry it's not always the case.
Joanna Lott:And I think especially in the business coaching world, most people are not qualified.
Joanna Lott:Sometimes we use the word coach when we don't really mean coaching.
Joanna Lott:So I am definitely more of a mentor these days than coach because I think my clients would be extremely frustrated if they joined my program and I refused to give them feedback on their niche and offer and all of the things.
Joanna Lott:So despite being a ILM Level 7 executive coach and mentor and having an ICF accreditation, I actually think it's more about having clarity on what you need and what qualifications or experience is needed to be able to support you.
Joanna Lott:So yes, qualifications are great, but don't underestimate real life experience, including your own real life experience.
Joanna Lott:The most successful businesses that I have worked with all bring their own unique experience into their coaching.
Joanna Lott:Okay, so now we have looked at the general industry as a whole.
Joanna Lott:Let's move on to proven ways that you can make money as a coach so you can decide what is right for you.
Joanna Lott:Right now the first one is one on one coaching.
Joanna Lott:So this is a huge advantage for you when you start your business because as you continue your business you will start to feel squeezed for time and want to move to one too many models.
Joanna Lott:So therefore for those offering one on one coaching is actually a big advantage for you.
Joanna Lott:I for example, rarely offer one to one anymore because I have a full client roster and just don't have the hours in my day.
Joanna Lott:So this is a perfect opportunity and is the easiest, quickest way to start.
Joanna Lott:So please don't underestimate how powerful this is for your business.
Joanna Lott:But I would say that it is worth considering A more exciting twist I often review coaches profiles and different things in my program and also just generally online and I do sometimes think we need to shake this up, we need to make it more exciting.
Joanna Lott:Maybe it's just because I see a lot so therefore I'm like come on, give me something more.
Joanna Lott:So for example, when I was fairly early on in my business I did this laser coaching which was unlimited 15 minute coaching sessions over a three month period.
Joanna Lott:But the person could only book in the session when they had completed the actions from the last session.
Joanna Lott: on't want to pay, for example: Joanna Lott:I also think tangible trackers, for example can be really useful.
Joanna Lott:People love seeing their progress.
Joanna Lott:They love having really strong accountability in a really tangible way.
Joanna Lott:So there's so many different things you could do to create a really exciting program that doesn't always require people's time.
Joanna Lott:For example, lots of people do voice note coaching these days so you don't have to have that session in the diary which is kind of more what I do with my clients.
Joanna Lott:So they can message me, voice note me their issue, we can chat it out, but it's convenient on both of our terms because we can do it when I'm walking back from the school run or whenever else I fancy.
Joanna Lott:So allow yourself to be creative and think about exciting opportunities to bring your own unique spin onto one on one coaching.
Joanna Lott:My second one is group coaching.
Joanna Lott:This allows you to scale your impact whilst still maintaining personal interaction.
Joanna Lott:Programs really do need an even more specific niche because there is nothing worse than being in a program with people with varying goals.
Joanna Lott:For example, I was once in a business program with all sorts of different entrepreneurs.
Joanna Lott:There was people selling handbags or running software companies and to be honest, the group just didn't gel because we had nothing in common.
Joanna Lott:The sorts of problems someone creating real tangible goods like a handbag are nothing like the problems I was dealing with in my business.
Joanna Lott:So we just couldn't work together on that shared goal.
Joanna Lott:This is something I'm working on now as I'm planning my next level mastermind.
Joanna Lott:So I need to ensure that everyone in that program is at a similar level discussing the same sorts of things.
Joanna Lott:So for example, I've specified that you already have a solid business, healthy revenue, typically 3 to 5k plus months, though it might not be as consistent as you want because there's nothing worse than not being able to, for example, celebrate your financial milestones because you feel like you need to hide your success because they're at a completely different level.
Joanna Lott:Also the conversations will be completely different.
Joanna Lott:For example, lots of talk about niching or the resistance of niching versus scaling group programs, gaining a team, all of that kind of thing.
Joanna Lott:So again, the more you move into group programs, the more important you will see the aspect is of ensuring a really good fit for those who are joining.
Joanna Lott:I would say though from my work with coaches that it's really easy to try and jump to group programs too early.
Joanna Lott:Please don't underestimate the audience size that you need to get a number of people to pay you and say yes to starting a group program all on the same date.
Joanna Lott:Digital courses is my next topic.
Joanna Lott:So the E learning market is booming.
Joanna Lott: ot quite as much as it was in: Joanna Lott:Packaging your expertise into self paced programs can really be a huge asset to your business because people can access it at any time.
Joanna Lott:But again, just like I said previously, don't jump to thinking you have to do this earlier than you do because often it's not easier to sell a cheap program.
Joanna Lott:So for example, I sell way more of my higher value packages than I do my lower value self paced course because sometimes people know that they're not really going to log in and they're not really going to be able to take the action.
Joanna Lott:Without that support and accountability, you also lose the connection, the feedback so there are great pluses of online courses, but do bear in mind that without that support and accountability, the average completion rate is just 3%.
Joanna Lott:So if you want to create a huge impact in your business, this might not always be the model for you.
Joanna Lott:Or it might be the model for you if you want to focus on a micro course that people will implement and get results from.
Joanna Lott:It all depends on where you are in your business as to what stage is right for you.
Joanna Lott:My next proven way to make money as a coach is corporate coaching and training.
Joanna Lott:Many of my clients develop workshops or training to fit those corporate needs.
Joanna Lott:It's also a great way to get your foot in the door to organizations because often training can feel more tangible than coaching.
Joanna Lott:The next proven way to make money as a coach is by memberships.
Joanna Lott:These are similar to a group program, but usually larger with way less support.
Joanna Lott:Most offer content, live Q and A sessions or a community discussion, and they are usually at an ongoing monthly fee.
Joanna Lott:You usually need to be at a certain stage of your business or audience growth journey to be able to make a membership financially work for you because they tend to be fairly low level, between maybe 30 to 100 pounds a month.
Joanna Lott:So you would need quite a few people inside to be able to make it worth your time.
Joanna Lott:There is also often less engagement in memberships because people aren't paying such a high fee.
Joanna Lott:I'm part of a wonderful community and she has a really high retention rate.
Joanna Lott:Although I must admit because it's 60 pounds a month, I have never once attended the Q and A call.
Joanna Lott:I just like knowing that I've got that content there should I need to refer to it.
Joanna Lott:But for example, when I pay a good price for a high value group program, then I am there every single week getting feedback, getting knowledge, connecting with the community, all of those things.
Joanna Lott:So what you pay often does make a difference in how you show up.
Joanna Lott:So let's move on to adapting to new trends.
Joanna Lott:What can you do to ensure that you remain innovative and adaptable to this changing landscape?
Joanna Lott:Here is what to keep in mind.
Joanna Lott:I would suggest leveraging technology, so use tools for client tracking, scheduling and your marketing.
Joanna Lott:Expand your skills.
Joanna Lott:Stay ahead by reviewing what you're doing now versus what somebody years ahead of you is doing.
Joanna Lott:This isn't to say you can implement the exact same things, but there is so much to learn from looking at those who are already successful.
Joanna Lott:So for example, one thing that I often talk to my clients about is when you look at a really good social media account, you will see extremely clearly who they help and how.
Joanna Lott:When you look at a less established coach, you will immediately see that it's really vague and there's usually five steps to productivity, but it's not like five steps to productivity.
Joanna Lott:If you are a leader with a team of 30 people and you want to learn how to delegate more effectively, that is what an established coach would be doing versus a newbie.
Joanna Lott:So do take a moment to look at your own profile and see if it's apparent who you help and how that leads on to my next point, which is build a unique brand so authenticity sells.
Joanna Lott:I think people have become really jaded by fake stuff online, or I hope they have, because it drives me crazy.
Joanna Lott:So define what makes your approach special.
Joanna Lott:Consistently communicate that across all your platforms.
Joanna Lott:I went to a two day workshop called Find the Words last week, which was about getting our approach super clear and choosing our words wisely and continuing to repeat them.
Joanna Lott:We forget the power of repetition.
Joanna Lott:We feel like we need to have a new thing to say every time we go out there and put a post out.
Joanna Lott:But actually what this course reminded me of was the discipline of messaging that politicians use, for example.
Joanna Lott:So then everyone gets super clear on exactly what they represent.
Joanna Lott:Whereas if they continue to use different words, like we often do when we're kind of explaining what we do, for example, then it's really hard for you to stick in people's minds enough for them to be able to convey to other people exactly what you do.
Joanna Lott:Now, we have covered a lot, so let's move into avoiding burnout and building sustainability.
Joanna Lott:I think the more you grow, the more you realize you only have limited time and energy for things.
Joanna Lott:So your focus is your most valuable thing.
Joanna Lott:Ensure that you have automated admin tasks.
Joanna Lott:Like, for example, I've just set up Asana as a project management system and it's just been amazing knowing that every single process I do in my business is recorded in there and I can delegate it really easily.
Joanna Lott:Next up is to create clear boundaries to avoid burnout.
Joanna Lott:I'm often really torn with this one because I do think we can end up leaving the workplace thinking that we have to work nine to five or nine to three, whatever it is for you, five days a week, and we must never work weekends and all of the things.
Joanna Lott:But actually it's about having your boundaries with intention.
Joanna Lott:So here I would just say what works for you.
Joanna Lott:Like, I love recording this podcast at weekends because to be honest, the week is really busy.
Joanna Lott:I've got things going on.
Joanna Lott:I use this podcast as time to take a step back, reflect when I'm well rested, when I haven't got another call in my diary.
Joanna Lott:And I'm okay with that.
Joanna Lott:So don't feel like you have to be super rigorous.
Joanna Lott:It depends what works for you and what you want to do.
Joanna Lott:And my third point is to outsource tasks that you don't enjoy so you can focus on what you do best.
Joanna Lott:It's been a pure joy for me to really learn how to do this recently.
Joanna Lott:I have a few team members now and I suppose I've always been a doer, so it's actually really hard sometimes to not just quickly get on and do everything myself.
Joanna Lott:But now I'm starting to notice how much joy it brings me to hang up this episode and know that somebody else is going to do the show notes, get it published to the platforms, draft an email for me about it, which I then edit to obviously inject my own personality into.
Joanna Lott:But it really, really helps to automate and get help in your business.
Joanna Lott:And I know that depends on your finances and where you are at right now in your business.
Joanna Lott:It's certainly not something I did very early on, so I appreciate you sometimes need to ensure that that person can bring you in income and focus on the tasks that are going to free up your time to do lead generating activities.
Joanna Lott:For me, for example, it's freed up my time to have a collaboration this week with a coach training organization to support their coaches to build their business once they're qualified.
Joanna Lott:So that's the sort of thing that's been on my to do list for two to three years now.
Joanna Lott:And I have just not got round to it because I've been drowning in the admin and that project and freeing up my time to do that project can generate a lot of income for my business.
Joanna Lott:So yes, I think it depends where you're at as to ensuring that you are intending to free up your time for something super, super valuable.
Joanna Lott: st talked about the market in: Joanna Lott:Next up, I covered proven ways to make money as a coach.
Joanna Lott:Then we talked about adapting to new trends and being innovative.
Joanna Lott:Finally, we talked about avoiding burnout and building sustainability in your business.
Joanna Lott:I hope you found this episode super helpful.
Joanna Lott: r, making money as a coach in: Joanna Lott:It's about being innovative.
Joanna Lott:It's about getting help.
Joanna Lott:It's about utilizing tech and AI, maybe corporate training, personal branding.
Joanna Lott:The opportunities are huge.
Joanna Lott:So know that it's just like coaching and you can get better and better at your marketing and business building craft.
Joanna Lott:But also to start like you are going to be rubbish when you start and that is all there is to it.
Joanna Lott:And even years in you're still going to look at yourself and think my God these people are amazing and they will be amazing because guess what, they probably had 10 years of practice that you haven't had yet in this particular area.
Joanna Lott:So just know that you are also going to be amazing in 10 years time.
Joanna Lott:I'm doing a celebratory prize draw for those who rate and review the podcast.
Joanna Lott:So please take a moment to hit on the show name, scroll down and rate and review and then email me on joannaoannalotscoaching.com let me know you've done that and I will do a live draw on video on Wednesday 4th December.
Joanna Lott:You will either win my course Signature solution to help you create a really great niche offer and make your first five sales or if you already have that, you will gain a one on one call with me.
Joanna Lott:So as I say at the end of every episode, trust yourself, believe in yourself and be the wise gardener who keeps on watering the seed.
Joanna Lott:Thank you so much for listening to this episode of Women in the Coaching Arena.
Joanna Lott:I have a mass of free resources on my website joannalotcoaching.com that's Joanna with an A and Lot with two T's.
Joanna Lott:Joanna Lott coaching.com and I'll also put links in the show notes below.
Joanna Lott:Let me know if you found this episode useful, share it with a friend and leave me a review and I will personally thank you for that.
Joanna Lott:Remember to trust yourself, believe in yourself and be the wise gardener who keeps on watering the seed.
Joanna Lott:Get into the arena, dare greatly and try.