Tips to Becoming a Successful Life Coach

Aug 11, 2014
holistic-Yoga_outsideLife coaching was a rarity, until the talk show circuit hit television. While it may seem like an odd career, even online life coaches can make a good living. However, while it is a great field to get into, it is not the right fit for everyone, and complications can arise as to how your business may operate.

You should focus on the type of life coaching you intend to do. While some are good at helping teenagers to those in their 40s, not everyone is. You need to make sure that you discover early on which age group or groups you work the best with. Secondly, you need to figure out which realm you will be conducting business in. Will you have an office, or will your work be based over the internet, with Skype? Anything is possible, however you need to make sure that your state does not require you to be licensed to operate a life coaching business. Also, it is good to think about what your clients want. Some people are happy to communicate online, while some would rather meet face-to-face. This again is something that is influenced by your clients’ age ranges; however, it should be considered regardless.

Another thing that you need to consider is how you will take payments. The vast majority of businesses, plastic card payments are accepted and encouraged. However, to process these payments you will need a life coaching merchant account, which can be hard to come by. This is because life coaching merchants are considered to be “high risk” meaning that they are at a higher risk of fraudulent activity. For this, you will need to seek out a high risk merchant account processor that has experienced dealing with life coaching merchants. One of the best is EMB, or eMerchantBroker.com. We at EMB are familiar with the twists and turns your business can take, and we will not punish you or your business for them. In fact, we offer additional chargeback protection insurance to help our high risk merchants from incurring high chargeback fees that can come from fraudulent charges.

Life coaching is a great calling, as well as a great moneymaker, if you are right for the business. There are many ways to make your business work, however something’s remain constant, regardless if you are a Skype-based coach, or an in-office coach. You will need a life coaching merchant account, and for this, you need to look no further than EMB.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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