Therapists are leveling up and diversifying their income in all kinds of new and exciting ways these days!
It makes me so happy to see people making more money, serving more people, and shining bright! ✨I believe that diversifying our income streams is one of the most important things we can do to avoid burnout and have longevity in our careers.
But there are some things you should know.
2 years ago I decided to finally go for it and I signed up for a course that helps therapists become coaches. And there’s a LOT I wish I had known. I’m going to spill the tea and hopefully save you some stress.
5 Things I Wish I Had Known Before Starting a Coaching Business:
1) All of the gurus tell you that you HAVE to have a separate business for coaching.
This makes total sense because you want to be crystal clear that you are NOT providing therapy. The safest way to do this is by setting up separate EVERYTHING: business, taxes, website, email, contracts….but did you know there is a lot you can do WITHIN your therapy business and under your license? Right now?
For one, coaching is still under the scope of most therapy licenses. You can provide coaching right now as long as you stay within the confines of your license: clear informed consent, working within your state, and no dual relationships. You WILL need a separate business if you plan to coach outside of your state or your licensing restrictions.
You might be surprised to know that there are a ton of other things you can do under your license, like teach CEUs, write, offer intensives, run groups, consult…. In fact MOST of the additional income streams I do could ethically be done under my therapy license.
I REALLY wish I had known that.
2) Growing an online business is 90% marketing.
You have something awesome to share, but first people have to know about you. And that is a WHOLE thing- learning to write copy, speak to your audience, get in front of people, fight the algorithms, build your following, network…
It can be a full-time job.
3) It takes a LONG TIME, probably much longer than you have been led to believe.
I’m going into year 3 and FINALLY, feel like I’m reaching my people and making an impact. It’s also nice to finally have some income coming in! Year one was a loss but year 2 is better, and I’m ready for year 3 to be fantastic! (I have learned that this is a pretty reliable timeline for many entrepreneurs).
4) Almost ANYTHING is easier to sell than coaching.
I’m not gonna lie here. This one is tough to admit. But of all of the additional income streams I’ve built (coaching, consulting, courses, writing, intensive therapy and providing CEUs), coaching has been the HARDEST to get people to sign up for consistently.
I believe that’s because when people are already spread too thin, committing to one more thing that takes time and energy can feel like too much.
5) You DO need an email list.
Whatever you are offering, it’s true what they say. You DO need an email list, and most of your time early on is getting people on that list. You’ll need to create content that speaks to your audience so they look forward to hearing from you.
I post A LOT of social, video and email content and I’m here to tell you, email is queen.
Now, with all of that said, I wouldn’t change any of this for the world.
I’ve met so many wonderful people and have been able to help many therapist moms leave burnout behind and get their spark back through 1:1 coaching and courses.
I wouldn’t change anything. But I do wish I had known.
-Michelle
PS. If you’re curious, you can check out the 1:1 coaching work I do by clicking here.
Michelle Risser 