When it comes to life’s major decisions, some of us need some help. And if you're not finding the right advice from friends, family and mentors, a life coach may be a good investment.
Life coaching isn’t a new concept, but a Chicago startup taking a modern and tech-forward approach to the industry is bootstrapping its way to profitability.
Ama La Vida, founded three years ago by Nicole Wood and Foram Sheth, offers its clients career, lifestyle and health advice.
Wood came up with the idea for Ama La Vida after her own experience with a life coach while working in Chicago at PricewaterhouseCoopers. At the time, Wood was trying to identify a career path that made her feel fulfilled while still being lucrative. She found the experience helpful, so helpful in fact, that she gained the insight and direction to launch her own business.
“It was really transformative for me,” Wood said. “She helped coach me through my career transition and out of consulting and into the startup world.”
Ama La Vida, which translates to “love life,” offers career coaching on both a B2B and consumer basis. For businesses, Ama La Vida offers leadership coaches to an organization’s C-suite. For consumers, the startup offers life and health coaching, as well as career advice.
Wood says Ama La Vida has about 500 clients, which include the University of Chicago, Arizona State University, McDonald’s and Verizon.
To standardize and modernize its coaching methods, Ama La Vida offers its services through a combination of online virtual coaching as well as one-on-one sessions with real, live coaches, either in person or via video chat. Ama La Vida’s online software platform allows coaches to document and track clients’ progress.
“We have a set methodology and approach that a client can understand fully up front,” Wood said.
The online portal also allows customers to receive consistent coaching from anywhere. Though the startup is headquartered in Chicago, Ama La Vida’s 15 coaches are spread throughout the country. All of Ama La Vida’s coaches are accredited life coaches, and upon being hired at the startup, they are required to go through a rigorous training program to standardize their approach to the job. Coaches are designated as contract workers and are paid an hourly rate, Wood said.
Being bootstrapped, Ama La Vida has learned to be scrappy. The startup has grown slowly, taking its time reinvesting revenues back into the business, Wood said.
Last year, Wood was one of 12 founders in 1871’s seventh WiSTEM cohort, a program that mentors female entrepreneurs. Additionally, one of the startup’s employees, Strategy and Brand Specialist Randalyn Hill, was an honoree on Chicago Inno’s 2019 25 Under 25 list.
Ama La Vida’s competitors include New York-based The Muse, and California-based Career Contessa, which both specialize in career advice and coaching.
But Ama La Vida sets itself apart, coaching its clients in other areas as well, like health, finance and lifestyle.
“At our core, our mission is to help people love their lives,” Wood said.
