It seems like you can’t go more than five minutes without seeing rich people. They’re on TV shows, billboards, magazines, even our cereal boxes-but who we rarely see are the mentors, teachers, or coaches who were a significant key to their success.

In fact, coaching is one of the greatest secrets to success. Clint Eastwood won five academy awards, five people’s choice awards, and a screen actor’s guild lifetime achievement award. Kenneth Cole went from selling shoes out of the back of a truck, to a company that makes over $400 million a year. Walter Cronkite anchored CBS news for 19 years and was described as “the most trusted man in America.” Each of these had their respective coaches in life; Irving Leonard, Charlie Cole, and Fred Birney; names that are mostly unknown.

These are just three examples, but ask most wealthy, successful people if they had a coach and you’re likely to hear “Yes”. Coaches are well-paid for a reason. Their ability to launch success through others is remarkable. Even though there is an investment to be made, in the end, your success and the money that comes from it will return to you tenfold. Here’s why:

1. Coaches Have Personal Experience of Getting Rich

Great coaches are great coaches because they have demonstrated skill, knowledge or ability at exceptional levels. Would you get investment advice from someone who is bankrupt, career advice from a consistently unemployed friend, or singing lessons from a tone deaf teacher? Probably not.

Coaches that have a respectable reputation have the experience to back them up. For example, Stephen Covey, a popular management coach, established himself with several projects including Franklin Covey, a training company, his book The 7 Habits of Highly Effective People and his education from Harvard Business School. He is now worth millions and is helping catapult many others toward their goals.

Most Coaches didn’t start out rich; they had to make the journey themselves and therefore know how to help others avoid pitfalls, overcome roadblocks and get to their goals faster than if they were on their own. A coach enables us to skip the failures and get right to the success, that much faster.

2. Coaches Have Solid Networks of Rich People

There is a certain aura around rich people. There is no mistaking the feeling that they have an inner circle of wealthy, talented and insanely successful contacts at their fingertips. It often feels like the biggest difference between the rich and poor. How many homeless people are best friends with movie actors, business owners, or doctors? Also, how hard is it to cultivate such a powerful network if you yourself don’t fit in this inner circle?

That’s where coaches come in. Coaches have the same powerful networks, but they’re willing to share. When you help others succeed you can’t help but create a network that consists of successful people.

Coaches understand it’s a phenomenon for someone to be exceptionally talented in every field that exists, but when you have a great network, you have access to unlimited numbers of abilities through others. This plays a powerful role in the coach’s job. They have a diverse set of clients with a diverse set of needs. Coaches can put you in touch with experts in a variety of fields to give you the tools you need to become more successful and make more money.

Why would a stranger be willing to help you from nothing more than a coach’s quick request? Most likely because that same coach helped that same stranger get to where they are today. Not only is the coach giving you an opportunity that’s very difficult to find alone, he’s helping you build a powerful network of your own.

3. Coaches Understand the Foundation to Success

Finally, a coach can make you richer because they provide a foundation for continued success. Unlike many products, books, or TV shows that claim to make you rich quick, a coach provides teachings, techniques, and skills that build progressively toward your end goals.

A coach understands the concept of progress not perfection. Because of this, they are very good at getting clients from one point to the next much faster than they could on their own.

So how does this make you more money?

Easy. The programs shared by coaches help clients hone their skills, get promotions faster, find better jobs and run their businesses more efficiently. They are in the business of opportunity. They don’t just open one door or window-they open walls.

To wrap things up, think of how many poor, unsuccessful people you know who were coached. Then compare that to the number of poor unsuccessful people who weren’t coached. It’s hard to compare.

Is there an investment to have coaching done well? Sure. Is it going to pay for itself through the opportunities you will experience and foundation it will provide? DEFINITELY!

Three Things to Do Next
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5 thoughts on “3 Secrets Why Coaching Can Make You Rich

  1. I’m a life coach also and I find your article to be pretty interesting, I must admit.

    The first step in making money from coaching is to make a name for yourself.

    You can’t make a conference or assist at one if nobody knows you

  2. Bryce Christiansen

    Exactly, making a name for yourself is really key. In the coaching business, you need to demonstrate your own success before you can expect someone else to use you to build their own success.

  3. How I wish I could be a coach but I’m still gaining experience. But I’m making an effort everyday to develop my skill as well as learn from my failure. :-)

  4. Bryce Christiansen

    Thanks for sharing. Those are the steps to take if you want to help others down the road through coaching. Good to have you on the blog.

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