The Top 10 Things You Need to Know in Order to Become a Business Coach
Over the years, we’ve talked to hundreds of professionals who are looking to launch business coaching practices. They’ve asked us what it takes to become a business coach and how to do it efficiently and effectively.
Here are our answers to the top 10 questions we get about how to become a business coach:
1) How Do I Start A Business Coaching Business?
To start a business coaching business, your first step is to establish a process for acquiring business coaching clients and coaching them successfully. Many beginners overlook this critical key. In fact, failure to present an effective, step-by-step methodology that helps you quickly and reliably solve business problems for business owners and entrepreneurs will doom your efforts to become a business coach. On the other hand, going to market with a proven method for increasing revenue and profits will make you the go-to person for entrepreneurs in your community or industry niche. There are various options for acquiring a business coach system. You can learn about the pros and cons of each of them HERE.
2) How Much Money Can I Make Offering Business Coaching?
The typical independent business coach will earn $30k to $60k per year or less. But business coaches in our network are NOT typical! Coaches’ Coach is a global network of 6000+ business coaches. We offer a 12-month training process you can go through with a guaranteed outcome of at least $10,000 to $30,000/month in coaching fees. Our process for business coaching client acquisition and retention has been honed and perfected over the last 20+ years and our effectiveness at training business coaches is indisputable. Learn more HERE.
3) What Do You Need To Be A Good Business Coach?
More than anything else, you’ve got to be a great coach in the general sense of the word! All great coaches provide three things:
1) Awareness. Your first job is to help your clients become aware of the roadblocks and obstacles adversely affecting their businesses. You do this by digging into their businesses to “diagnose” the issues, and then clearly communicating where they’re falling short. After all, recognizing and understanding the problem is the first step to correcting it.
2) Education. Next, you guide them to the educational resources they need to overcome their challenges. Many business owners lack any kind of real business training – so you teach them these essential skills using tools, knowledge, strategies, and assignments.
3) Accountability. In order to make sure your clients actually implement what you share with them, you hold them accountable. You provide feedback to make sure they’re doing the work correctly. You stay positive and affirming to ensure they follow through on their objectives. Accountability is one of the most important aspects of coaching, and believe it or not, they’ll thank you for it. Learn more HERE.
4) What Do Business Coaches Do?
Simply put, business coaches are in the business of helping the owners of small-to-medium-sized businesses increase their profits and improve their quality of life. You do this by educating them and guiding them through a process that will increase their revenue and build a team that can run the business for them. Typically, you meet with your coaching clients once a week for 30 to 60 minutes. Most of your coaching sessions are held via Zoom, some in person. Learn more HERE.
How Do I Get Rid of My Head Trash?
By “head trash” we mean the insecurities and perceived liabilities that you may be allowing to dictate how you feel about yourself and your potential to succeed as a business coach. The solution? A simple but powerful mental reframe that transforms your so-called liabilities into assets in your own mind. Learn more HERE.
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