Especially when you’re networking or meeting new business owners, the more compelling, interesting, and informative your response, the more conversations you’ll be able to strike up…and turn into potential new clients!
Over the years, I’ve tried a few definitions of what a business coach is, but recently settled on one that I think explains it faster and better than any I’ve encountered yet. See what you think–maybe you can start using it when you only have a sentence to describe what it is you do!
So…what is a business coach?
A business coach is a professional advisor who mentors business owners in growing their businesses so that the incremental cash flow more than pays for the customized business education the coach provides.
Let’s break that down.
A business coach is a professional advisor: This means that a coach isn’t a buddy or a cheerleader, but a true professional with ethical standards and specialized expertise that are worth paying handsomely for.
who mentors business owners: Business coaches work hand-in-hand with their business owner clients in a mentor-mentee relationship. This means that the mentor (you) holds the mentee (the business owner) accountable to do the work necessary to grow the business–which is the exact opposite of a traditional consultant-client relationship, and therefore much more lucrative!
in growing their businesses: Business coaches help business owners see what’s standing in the way of their businesses being as profitable, efficient, and impactful as positive–so that the business owners can overcome those obstacles and grow.
so that the incremental cash flow: Coaching relationship doesn’t offer a quick hit, get-rich-fast, pie-in-the-sky, solve-all-your-problems-overnight kind of promise. Instead, a business coach specializes in helping clients grow their businesses incrementally–which means sustainably, and therefore effectively, for the long-term.
more than pays for: Still, although the gains may be incremental, they need to be substantial enough to pay for the investment the client makes in business coaching…and much more! When you’re able to demonstrate this kind of value, your clients will stay with you for years.
their customized business education: The value of a coach vs. a do-it-yourself business course is that the education and training a coach provides is specific to the needs of the business owner’s unique situation. This means better results, faster.
The next time someone asks you what a business coach is, try this explanation and see how it works!
And for more hot tips and tricks, check out our FREE ebook, Secrets of a Business Coaching Rock Star.