Categories
Executive Coaches

Grow Your Executive Coaching Income Beyond 6 Figures With These 4 Tricks

If you’ve been an executive coach for some time, but you’re looking to make more money, then you’re in the right place. 

According to ZipRecruiter, the national average salary of an executive coach in the United States is $135,042. The question is, are you making that much? Or are you struggling to make money as a coach?

​​​​​​​​​If you’re not making at least six figures a year, then there are probably a few things you’re missing out on. Becoming an executive coach or career coach started as a way to take your business and leadership skills into corporate America because you had a knack for helping people reach their goals. But, if you’re not able to reach your income goals, it’s going to be hard to get your clients where they need to be.

In fact, ZipRecruiter shows that 31% of executive coaches are only making $20,000 to $49,999. If you’re hovering in that region, or just above, then you’ll need to take a few simple steps to launch past the six-figure mark. 

Without further ado, let’s dive in so you can discover how to break six figures as an executive coach.

1. Niche Down

Coaching is hard, yet often misunderstood work. It takes a ton of effort to get your feet off the ground and be able to make a livable income. However, if you’re wanting to move past simply scraping by and make real money as an executive coach, you’re going to have to differentiate yourself.

The best way to do this is by niching down.


Doctors going through medical school often specialize in optometry, dentistry, surgery, etc. There’s a reason for this. When you specialize, potential clients see you as special. For instance, if you have an issue with your vision, would you rather go visit a general practitioner, or see an optometrist?

You would see the optometrist, of course. You know that they have dedicated their entire post-secondary education to learning and mastering everything to do with eye health. They understand vision better than any general practitioner. They are more likely to be able to give you a better service.

You need to be able to offer your clients a specific area of expertise. You’ve already established yourself into one niche level by becoming an executive coach. But, if you want to make money as a coach, you’ll have to go even further. Look at the areas you’re the best in.

You can start by looking at industry. What industry have you spent most of your working career in? Health? Hospitality? Construction? Real Estate Development? The place where you’ve spent the majority of your career gives you an upper hand as an executive in that industry. Rather than trying to serve any executive from any industry, choose to target those in an industry you’re already comfortable in, and understand the jargon.

If you want to go further, you can specialize in a specific executive skill.

Is it marketing? Or product development? Maybe it’s management? Or perhaps it’s human resources?

If you have special expertise in a specific executive skill or field within the corporate structure, don’t let it go to waste. Utilize the areas you’re already an expert in by offering management-specific executive coaching. Or market yourself as the executive coach for marketing professionals.

By specializing in a specific niche, you’ll build up your reputation in that area. You’ll be the one executives turn to when they need help in those specific areas. Niching down brings your income up.

2. Start Group Coaching

I know what you’re thinking. You have a fear of public speaking. You’re better one-on-one. But if you’ve never attempted group coaching, how would you know if you’re better doing solo coaching?

Group coaching isn’t as scary as it sounds. It’s simply multiplying your reach without drastically increasing the time you have to spend to coach each person. It’s simply using a system to work with more people without having to clone yourself.

If you’re scared of standing on a bright stage in front of hundreds or thousands of people, you have other options. You don’t even have to get up in front of a crowd at an event. You can coach hundreds of people at a time from your computer.

The fact is, unlike private one-on-one coaching, group coaching is scalable. This means once you’ve built your group coaching system up whether through a live workshop, portal, phone, or webinar, you just add more people in with very little extra effort.

Group coaching really just comes down to simple math. With one-on-one coaching, let’s say you charge $100 an hour. You do 2 sessions per day and make $200 in 2 hours of work.

Well, with group coaching, let’s say you charge each person $20 to join a coaching webinar you’re hosting. 100 people join the webinar and it lasts for 2 hours. You just made $2,000 in 2 hours. That’s 10 times more money in the same amount of time. The biggest amount of effort on your part is creating the system.

By creating a system to reach more people, you’ll be able to drastically leverage your time and reach. This is entirely possible, but you just have to think more as a business owner than a freelance executive coach. By thinking about building a system, you’ll be able to serve more people, and exponentially grow your income.

3. Publish and Distribute Content

One way you can make money as a coach is by publishing a book. You can diversify your income from just one-on-one sessions to bring in passive income every month.

Guess how many books Tony Robbins has sold? According to Inc., he’s sold 15 million globally. That’s not $15 million, that’s 15 million copies. If each copy cost a conservative $10, that’s over $150 million in book sales.

Now, you’re probably thinking, “Well yeah, but that’s Tony Robbins.” That’s right, Tony Robbins is famous and has sold a ton of books. But he had to start somewhere.

Publishing books is just one way you can publish and distribute content. It can be extremely lucrative from the sales of the books themselves, but there’s something beyond book sales that is an incredible side effect of publishing a book:

Your perceived expertise.

You see, as a growing executive coach, your business is people. If you’re trying to build up a solid client base, you need to make sure people know you, like you, trust you, and see you as an expert in the field. Well, there’s no better way to be seen as an expert executive coach than by having your own published book.

When your prospects are scanning portfolios, and they’re considering hiring a coach, who do you think they’re more likely to be interested in receiving coaching from:

Someone who has a resume titled “Executive Coach”? Or do you think they would be more interested in the person with a resume titled “Executive Coach & Author”?

When people simply know that you published a book, it increases your level of expertise in their eyes. But there’s another powerful benefit to publishing a book: you can use it as your business card.

Next time you’re about to give someone your business card, rather than whip out a card that they’ll probably just put in their wallet and forget about, give them your book. There are 5 main benefits:

  • You will get their attention
  • You will immediately impress them
  • You set yourself apart from every potential executive coach
  • They won’t easily lose a book like they would a business card
  • They can get a taste of your knowledge to see if you’re a good fit

But, perhaps the most important benefit of giving your book to a prospect is the law of sowing and reaping. Or, put simply, you get what you give.

When you begin to think about how you can give more to your potential clients without expecting anything in return, that’s when you’ll begin reeling in more clients.

You may be thinking, that sounds good, but what do I know? You’re probably thinking you don’t have enough knowledge yet. Or maybe you think you’re not a big enough of an expert. Or, maybe you seem like you’re just faking it. At the end of the day, no one ever feels ready to publish a book.

Here are a few things you can do in the meantime to establish yourself as an authority in your field before writing your book:

  • Start writing articles on the subject and build up a following on your website or blog.
  • Create videos on YouTube
  • Start posting stories on Facebook or Instagram
  • Start a podcast

A book is a big goal, but very rewarding. If you feel like it’s too much to start, then simply start publishing content online. Give helpful advice, tips, and insights in the coaching field to executives. Build up a following. Then, when you give out your business card, tell them about your website or social media presence. By putting yourself out there online, you’ll be able to rapidly grow your reach, opening yourself up to a much larger income base.

4. Surround Yourself With High-Income Coaches

The final step you need to take to make more money as an executive coach is by surrounding yourself with the right people. You need to find those who are where you want to be in terms of income level and spend as much time with them as you can.

Famous motivational speaker Jim Rohn once said, “You’re the average of the five people you spend the most time with.” He was referring to character, qualities, and skills, but you can take the same principle and apply it to income level. If you spend time with people who have what you have, you will learn to become like them, taking on their habits, and seeing how they’re able to make higher incomes.

The best way you can start connecting with these types of people is by attending networking events. Go to executive coaching seminars, workshops, and conferences. Start meeting new people. Put yourself out there. Offer to buy someone coffee. And be forward with people. You can simply start by saying, “Hey, you seem really successful. I’d love to buy you a coffee to hear your story.”

Just by putting yourself out there, you’ll increase the chances that you’ll meet someone who is where you want to be. And rather than focusing on yourself, ask them questions about their story, how they got to where they are, and ask them what they’re interested in. See how you can provide value to them. Ask them if they need help in any way.

Not only will you be more likely to make a new connection, but by helping out another coach, you’ll increase the odds of having a favor returned one day. If they like and trust you, and you’ve helped them out, chances are they’ll be sending future clients your way when they get too busy and they need to recommend a friend.

Here are a few things you can do in the meantime to establish yourself as an authority in your field before writing your book:

❖ Start writing articles on the subject and build up a following on your website or blog. 

❖ Create videos on YouTube

❖ Start posting stories on Facebook or Instagram

❖ Start a podcast

A book is a big goal, but very rewarding. If you feel like it’s too much to start, then simply start publishing content online. Give helpful advice, tips, and insights in the coaching field to executives. Build up a following. Then, when you give out your business card, tell them about your website or social media presence. By putting yourself out there online, you’ll be able to rapidly grow your reach, opening yourself up to a much larger income base. 

Final Thoughts

Trying to figure out how to make money as a coach isn’t always easy. Oftentimes, most people just think if they work a bit harder and work a bit longer, they’ll reach their income goals. But in reality, there are specific steps you need to take in order to maximize your income potential as an executive coach. To recap:

● You need to specialize down with a niche in order to build up a reputation as the go-to coach in a specific field. 

● You need to begin group coaching to scale your efforts so you’re maximizing your time for money trade. 

● You need to begin publishing content like books, videos, and articles in order to establish yourself as an authority. 

● Finally, you need to surround yourself with those who have the income you want so you can become like them in terms of skill and income level. 

By taking action today on these specific strategies, you’ll be well on your way to finding more clients, making more money, and increasing overall revenue as an executive or career coach.

Stay up to date with the Latest TrendsSign up to stay updated with the latest tips and tricks on growing your coaching business

I started to deal with business right after graduating from the Warsaw University of Technology in 1985 while working as a journalist at the same time. Two years later, I had a rapidly growing company. I survived but lost the company, got in huge debts and troubles and had to gather all my strength to cope and come back to life.