73. LIFE COACHING - Jack’s Digital Business Collection - Digital Business Ideas - Digital Entrepreneurship - Digital Entrepreneurial Ideas - Jack Lookman Limited - Rita Nnamani - Jack Lookman - Olayinka Carew - Entrepreneurial Ideas - A Collection Of Digital Business Ideas
In today's fast-paced and often overwhelming world, more people than ever before are seeking advice to help them navigate life, achieve their objectives, and become better versions of themselves. Life coaching has evolved as an essential option that provides clarity, drive, and support. For widows seeking meaning after loss and young people seeking direction or financial independence, becoming a life coach is more than simply a job; it's a game-changing digital business opportunity.
73.1. Benefits of the Business
1. Flexibility: Life coaching can be done remotely via video conferences, email, or chat platforms.
2. Low overhead: You do not require a physical office or hefty equipment.
3. Emotional fulfilment: Assisting others in overcoming obstacles may be healing for widows and empowering for young people.
4. High Demand: With increasing mental health awareness, life coaching services are in demand globally.
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73.2. Budget
• Online certification training costs between ₦150,000 and ₦600,000 ($100-$400), depending on platform and course depth. Some platforms provide payment arrangements.
• Basic website and domain hosting costs around ₦45,000 to ₦75,000 ($30-$50) annually.
• Marketing tools like Canva Pro, email marketing software, and scheduling tools can cost between ₦30,000 and ₦90,000 ($20-$60)
• Internet and Utilities: A steady internet connection costs between ₦18,000 and ₦37,500 ($12-$25) each month.
• Branding: A logo, professional images, and brand visuals can cost between ₦15,000 and ₦60,000 ($10-$40), depending on DIY or hiring a freelancer.
The estimated initial budget ranges from ₦300,000 to ₦900,000 ($200-$600), based on your preferences and aspirations.
73.3. Business Potential
The global coaching industry is booming, with the International Coaching Federation (ICF) estimating the market to be worth $2.85 billion (₦4.27 trillion). As people seek personal and professional breakthroughs, the digital coaching space continues to grow, especially in areas like:
• Business and entrepreneurship
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73.4. Funding
You can fund this business via:
• Personal savings
• Support from friends/family
• Microfinance loans or women/youth empowerment grants
• Crowdfunding platforms (Kickstarter, GoFundMe)
Some online platforms like Tony Elumelu Foundation or YouWin Nigeria offer funding to women and youth-led businesses.
73.5. How It Works
• Training: Get certified as a life coach through reputable programs (online or offline).
• Niche Selection: Decide the kind of clients you'll serve (e.g., widows, students, executives).
• Create Offers: Design coaching packages—weekly sessions, monthly plans, or digital courses.
• Client Engagement: Use Zoom or Google Meet for coaching sessions.
• Follow-Up: Offer accountability, worksheets, or ongoing support.
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73.6. Key Players in the Industry
• Tony Robbins: Global motivational speaker and life coach.
• Marie Forleo: Known for business and mindset coaching.
• Jay Shetty: Former monk turned coach and influencer.
• Lisa Nichols: Inspirational speaker and life coach, especially for women.
73.7. Marketing
Marketing is the lifeblood of a digital life coaching business. You can promote your services through:
• Social Media: Instagram, Facebook, TikTok, and LinkedIn.
• Email Marketing: Build a list by offering free eBooks or webinars.
• Content Creation: Write blogs, film videos, or start a podcast.
• Referrals: Offer discounts to clients who refer others.
• Online Communities: Join Facebook groups and forums where your audience hangs out.
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73.8. Monetisation
Life coaches can earn through:
• One-on-one sessions (₦10,000–₦75,000 or $7–$50/hour)
• Group coaching programs
• Online courses or workshops
• eBooks and digital products
• Speaking engagements
73.9. Potential Income
Depending on your effort, niche, and audience:
• Beginner Coach: ₦150,000–₦450,000/month ($100–$300)
• Intermediate Coach: ₦600,000–₦1,500,000/month ($400–$1,000)
• Advanced Coach: ₦2 million+ ($1,300+) monthly through coaching, courses, and consulting
73.10. Requirements
To succeed in life coaching, you should possess:
• Compassion and strong listening abilities.
• Clear communication skills.
• A well-defined personal brand.
• Basic technological proficiency (Zoom, Canva, social media).
• A commitment to ongoing personal growth.
A degree is not necessary, but having certifications and a solid reputation is important.
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73.11. Research and Development
Remain up-to-date by:
• Reading new books (e.g., The Coaching Habit, Atomic Habits).
• Participating in webinars and conferences.
• Gathering input from clients.
• Developing new methodologies or coaching resources.
• Investigating what is effective for other coaches worldwide and making adaptations.
73.12. Scaling
To scale your business:
• Launch online courses (host on Teachable or Selar)
• Hire assistant coaches
• Start a YouTube channel or podcast
• Collaborate with brands or organizations
• Offer affiliate coaching tools or products
• Automation tools like Kajabi, ConvertKit, and Systeme.io help streamline your growth.
73.13. Signposts
To gauge your progress:
• Track client testimonials and referrals
• Measure income monthly
• Watch social media growth
• Set and review quarterly goals
• Monitor retention and success rates
73.14. SWOT Analysis
Strengths:
• Low cost of entry
• Global audience
- High emotional reward.
Weaknesses:
• High competition
• Requires strong personal branding
- Inconsistent income early on.
Opportunities:
• Growing demand for emotional support and guidance
- Ability to scale through digital products.
Threats:
• Lack of regulation (anyone can claim to be a coach)
• Burnout from emotional involvement
- Market saturation in generic niches.
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73.15. Target Audience
• Widows seeking healing, reinvention, or income
• Young people looking to inspire peers or start businesses
• Professionals looking to transition careers
• Students needing direction and motivation
• Entrepreneurs needing clarity and accountability.
73.16. Training and Development
You can get trained and certified through:
• The Coaching Academy
• Jay Shetty Certification School
• Udemy (affordable beginner courses)
• iPEC Coaching
• Tony Robbins’ training programs
• Free platforms like Coursera and YouTube also offer helpful content to build your foundation.
73.17. In conclusion
Life coaching is more than a business—it’s a transformative mission. For widows, it offers healing and purpose. For young people, it offers direction, confidence, and income. For Digital Entrepreneurs , it offers an additional income stream. With a relatively low start-up cost, the ability to work remotely, and growing demand, digital life coaching holds incredible promise.
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