I’ve been through many stages of starting a business… doing freelance projects while working a day job, gaining experience as a new coach, up-leveling after those initial trying years…
One thing I wish I’d had more guidance on was how to manage and maximize the income I was making at each of the different stages.
Today’s post on managing income is from Salma El-Shurafa, founder of The Pathway Project. She helps empower executives and professionals to lead effectively, grow businesses, achieve ambitious results and leverage limitless potential through her coaching practice.
Salma’s sharing five expert tips on managing and maximizing freelance income, but don’t be too sure you’ve got it under control even if you’re a seasoned business owner!
Coaching is an admirable profession for its main goal is to assist someone toward her optimally better self and life.
But you know what? Coaching is a great source of income too.
Over the years, the demand for life and business coaches has grown as people became more stressed with work, family, relationships and other concerns.
Many people have realized that they can’t always work through their issues alone because of their myopic view of their situation. In order to get a full understanding of what they’re dealing with, they require somebody who can assess them from the outside, without judgment, and teach them what needs to be done — and basically, that’s what a coach does.
Despite being an in-demand career, freelance coaching is not as steady as other more conventional jobs. Freelance income may be particularly unstable for new coaches who are still getting things off the ground.
Therefore, if you’re a new coach and demand for your services are still just trickling in, properly managing your coaching freelance income is a must.