Chapter 1: Setting Your Income Aspirations

How much would you aspire to earn each month as a coach? It's crucial to consider your dream income, rather than settling for what you think is achievable or what you currently make. Many individuals don’t take the time to visualize their true potential due to societal conditioning. Take a moment to reflect: What would be your ideal monthly earnings? How would that change your life? Allow yourself to dream without limits.

The coaching industry is booming, valued at approximately $15 billion. A significant number of professionals have transitioned from conventional jobs to become successful coaches. However, not everyone embarking on this journey achieves success. So, what foundational knowledge should aspiring life, wellness, or business coaches possess to ensure a fulfilling career?

In this interview series titled "Five Essentials for a Flourishing Coaching Career," we are engaging with seasoned life coaches, wellness experts, fitness trainers, business strategists, and others to uncover the strategies necessary for achieving success in coaching.

In this edition, we are honored to feature Frank Macri, the founder of Thriving Coach Academy. Over seven years ago, Frank began his coaching journey without any prior business experience or a substantial online presence. He uncovered a unique methodology that propelled his business to six-figure earnings before reaching 30, establishing himself as one of the most accomplished Millennial coaches. To date, Frank has guided over 1,000 individuals in launching their coaching practices and hosts the "Life Coaching Secrets" podcast.

Before we dive deeper, could you share your personal story and what led you to this career?

Chapter 2: Frank's Journey into Coaching

I founded the Thriving Coach Academy after mentoring numerous individuals eager to establish successful life coaching careers. Reflecting on my own journey, I stumbled upon coaching while feeling trapped in a series of unsatisfying jobs. My frustration stemmed from not wanting to be confined to a corporate environment. I yearned to make a more significant impact and be my own boss.

While browsing online, I encountered the concept of a "life coach." Skeptical at first, I conducted more research and soon realized that coaching was my calling. The opportunity to profoundly affect lives while enjoying autonomy captivated me.

Initially, I attempted to navigate coaching on my own, relying solely on self-help books and my life experiences. A pivotal moment occurred when a potential client hung up on me during our call due to my inadequate approach. This humbling experience taught me that effective coaching is less about intuition and more about understanding psychological frameworks and methodologies. Thus, I sought formal mentorship and training, which unveiled numerous blind spots in my skills.

In just a couple of years, I earned around $300,000 without any paid ads or a defined niche. As an introvert, I discovered an authentic, enjoyable way to market myself, which led to increased interest from others wanting to start coaching careers. Consequently, I began sharing the insights I gained to simplify the process for aspiring coaches.

Within my academy, many coaches are on track to achieve six-figure incomes this year. My passion for this industry is unwavering; I believe coaches are more vital than ever. Coaching truly embodies the ideal career.

Success Traits: What Drives Your Achievements?

As a successful business leader, what three character traits do you believe have been most pivotal to your achievements? Can you share anecdotes for each?

1. Impatience: When considering starting a venture, numerous doubts may arise, suggesting that it's not the "right time" or that you aren't "ready." However, I learned that taking action is essential. I launched my coaching career during a tumultuous period in my life and achieved six-figure earnings before 30. Reflecting on the alternative—being stuck in a cubicle—kept me motivated.
2. Resourcefulness: I resolved to overcome any circumstance hindering my progress. I no longer allowed thoughts like "I don't have time" to dominate my mindset. Instead, I focused on how I could create opportunities, prompting my brain to find solutions.
3. Curiosity: I adopt a beginner's mindset, always eager to learn. When I receive feedback from mentors, I absorb it like a sponge. Embracing the notion that I don’t have all the answers fosters continuous growth.

Chapter 3: The Role of Habits in Success

How have habits influenced your achievements? Can you share some that have been particularly beneficial?

I established a routine that allows for ample rest, refusing to sacrifice sleep in pursuit of success. By prioritizing productivity over mere busyness, I learned to maximize efficiency during waking hours.

I also embraced the discomfort of initiating conversations with strangers. As an introvert, this was challenging, but I recognized the potential impact of these interactions on others’ lives.

Lastly, I've grown to appreciate asking for help. I used to stubbornly try to resolve issues independently, but I realized seeking assistance is crucial for success. Like getting a map when lost in a forest, having a coach is invaluable.

Building Good Habits and Breaking Bad Ones

What’s the simplest way to cultivate positive habits and eliminate negative ones?

The answer is straightforward: Find a coach and invest in their guidance. Choose someone whose fees challenge you, ensuring accountability.

Favorite Life Lesson Quote

"Success requires support. Failure we can achieve alone."

Chapter 4: Current Projects and Future Aspirations

What exciting projects are you currently involved with, and how do you envision them benefiting others?

This year, I launched the "Life Coaching Secrets" podcast for those eager to master the art and business of coaching. Additionally, we are introducing a new DEI training program for our coaches.

Key Factors for Coaching Success

Many coaches excel, while others struggle. From your perspective, what distinguishes successful coaches?

1. Certification: Ensure your certification is ICF-accredited and includes comprehensive business training.
2. Belief in Possibility: Doubts are natural, but they shouldn't deter you. Realize that clients willing to invest in your services already exist.
3. Community and Mentorship: Surround yourself with like-minded coaches and mentors to prevent costly missteps.
4. Passion for Helping Others: You don’t need everything figured out to coach effectively; a genuine desire to see others succeed is crucial.
5. Income Aspirations: Reflect on your desired monthly earnings and allow yourself to dream without limitations.

Chapter 5: Avoiding Common Pitfalls

What common mistakes do you see aspiring coaches make, and how can they avoid them?

1. Niche Drama: Don’t fret about having a niche defined from the start. Focus on offering coaching services broadly until your preferences crystallize.
2. Website Drama: Your website isn't the key to attracting clients. Instead, prioritize building relationships and offering value.
3. Hourly Rates: Charging by the hour can hinder sustainability. Instead, offer bundled sessions or premium programs.

Creating a Wow! Customer Experience

What are essential elements for crafting a remarkable experience for clients?

The client’s experience is largely determined by their expectations. It’s vital to instill a sense of accountability in them from the outset.

Effective Lead Generation Strategies

Generating leads need not be daunting. It simply involves meeting people and introducing yourself as a coach. Focus on building connections and offering consultations.

Wellness for Coaches

What advice would you offer coaches regarding self-care?

While hard work is part of entrepreneurship, prioritize your health and mental well-being. Embrace marketing as a fun opportunity rather than a chore.

Lastly, approach your journey with the mindset that success is inevitable. Visualize your goals as already achieved, making each step forward a step closer.

A Dream Lunch Guest

If you could have lunch with anyone, who would it be and why?

I would love to share a meal with Judge Judy, Sarah Blakely, and RuPaul.

Follow Frank's Work Online

Stay updated by checking out the "Life Coaching Secrets" podcast available on all major platforms. You can also explore my coaching program through VIP Guest Access for a glimpse into the tools our top coaches employ with their clients.

Thank you for your inspiring insights, Frank! We wish you continued success and well-being.