Life Coach Salary: The Law of Compensation At Work

Perhaps you've heard it said before that the Universe responds to seed, not need.

This is a universal law that is as predictable as the law of gravity. As you know, the law of gravity works the same every single time. If you drop a stone, it's going to fall to the ground.

The Law of Compensation works the same way. It works predictably, reliably, and consistently.

So what is the Law of Compensation?

The Law of Compensation can be stated in this way:

The better we serve and the more skilled we become, the greater the demand and the greater the reward.

Which then begs the obvious questions, how do I serve better and how do I become more skilled?

How do we serve better?

Surprise and Delight Your Clients (Overdeliver)

I believe in the principle of always overdelivering. Wallace Wattles, in The Science of Getting Rich, talked about always delivering more value than what you were paid. The way I approach this is to always look for ways to surprise and delight my clients. Whether it's sending them a personalized gift, or surprising them with a photoshoot at our retreat, or offering to do a practice run with your client on the day before their first webinar, or sending flowers on their birthday.

Do Everything Successfully

This means that we do everything with quality in mind. I love the story of Bob Proctor's first live event.  He rented a room for 3000 people, and his plan was to absolutely fill that room. For weeks he posted flyers and and advertised every place he could think of. And on the day of the event, when he came out on stage, there were six people in the room. SIX! And as he describes it, "Those six people weren't even sitting together."

But Bob knows that a professional is a professional ALL the time. And so he delivered his speech as if that room was filled with 3000 people. You know why? Because those six people deserved it. And because that's the person Bob wanted to be. Do everything successfully.

That could mean spending a few extra dollars to get a good quality name tags for your event rather than a cheap sticker that someone writes their name on and slaps on their shirt. OR it could mean spending the money to get your materials professionally designed with a graphic designer and printed with a professional printer rather than creating something yourself and printing it at home. OR delivering your presentation to 6 people with the same professionalism as you would to 60 people. Do everything successfully.

How do we become more skilled?

Daily Practice and Hone Your Craft

Here's what I know - Coaches coach, speakers speak, and teachers teach.

Regardless of if you have a coaching client that day, regardless of if you have a speaking engagement that day, regardless of if you have a class to teach that day, teachers teach, speakers speak, and coaches, coach.

I love Robin Sharma's exhortation to "diligently practice and hone your craft."

So I would ask yourself, "How can I be a teacher today? How can I be a speaker today? How can I be a coach today?" Maybe you teach by writing a blog post or doing a Facebook Live. Part of your teaching may be capturing ideas and beginning to outline what that teaching would look like using the hook, book, look, took formula.

Maybe you speak by practicing your signature speech {or the keynote you would LOVE to deliver someday} in the living room.  If you don't have a coaching call that day, maybe you coach by sending an email of encouragement to a client.

In order to become more skilled, we need to diligently practice and hone our craft every single day. Teachers teach, speakers speak, coaches coach.

Invest In Yourself

Mentorship

The most important investment we will ever make is in our own growth and development. So I'd ask yourself, first of all, there's different ways to invest in yourself. What one is just monetarily, you know, do you have a mentor or a coach that you can go to and learn from? Right? So this is one of the ways we invest in ourselves and get better it as having someone who can help us cut the learning curve, right? Who can help us shortcut to the results that we're looking for. Get there easier and faster.

That's what a mentor's about is removing roadblocks so that you can hit your desired result more quickly, more easily in a more long lasting way. Who's your mentor? Who's your coach?

Peer Partners

Where are you investing in your own growth? Being a part of a mastermind, being part of peer partners who become your thinking partners, your acting partners, you're partners in believing who are your cheerleaders, your role models, your mirrors to you, right? Where are you surrounding yourself with people who are likeminded, all rowing in the same direction, mastermind peer partners, and in other ways to invest in, uh, you know, just growing your skills as a person who's building a business, right?

Training

So your marketing skills, where are you learning that? Where are you investing in that? If you want to be a, you know, international speaker, where are you training as a speaker? If you want to build your business online and have a global impact, where are you doing that?

Where are you investing your money, time, energy, in order to learn and develop your skills in that way?

ne of the most important skills that we can develop is as a messenger. I believe first and foremost, we are messengers, right? Where are you developing your skills as a messenger? How are you investing in that? There's some other ways that we invest. We invest by study, right? Spending time in the study of whether it's, you know, as a coach or studying, you know, uh, uh, studying marketing or studying, being a speaker or studying, you know, different books that inspire us. Spending time studying. This is another way that we build our skills. Another way that we build our skills is just plain old practice. I talked about it before, this idea of speaker speak, teachers, teachers, teaching coaches, coach, where are you practicing? Right? And it's not just that, it's also where am I practicing being a messenger?

Where am I practicing as a marketer? Right? Where am I practicing my skills as a business leader? Ryan leadership skills, right? How am I practicing every day? It's another way that we get better at our skills.

So we invest, we study, we train, and we practice.

How am I daily practicing and honing my craft?

And then where am I investing in myself to grow my skills? Am I investing, training, studying, and practicing my skills every single day so that I can get better at them?

how can I over deliver, deliver more value than I've been paid? And what can I do to do everything successfully.

The second is asking yourself, how do I become more skilled? We talked about these two ways, daily practicing and honing your craft and then investing in yourself, your time, energy, money into becoming a better speaker, a better coach, a better marketer, a better messenger and practicing that.

Your Turn

What's one thing you will do TODAY to serve better or to become more skilled?

And when you do that again, the law of compensation, the better we serve, the more skilled we become, the greater the demand and the greater the reward.

That is the law of compensation at work. And that is the secret to increasing your income and your impact in the world.

 Pam