What is a respectable business coach salary? Glad you asked. First of all, let’s talk about how to start a business coaching practice. To get started is easy – anyone sitting at home in the pajamas can become a business coach. However, to be a successful business coach and earn a rewarding business coach salary, it takes education, patience, practice, and dedication.
Your starting point should be education and training. Locate a respected coaching training program and begin taking courses. A coaching school that is approved by the International Coach Federation (ICF) is the best choice because they have set standards on course content, set a minimum amount of hours, and monitor teacher’s qualifications. Your certification will be respected and recognized in the industry.
If you have never owned a business, it is also advisable to learn as much as you can about operating a business. Many coaching programs have courses that cover this, but if they don’t, it is crucial to take a few courses in running and managing a business. There are many good coaches who do not make it in the business because of the difficulty in running and maintaining a business. To earn a good business coach salary, your coaching business needs to operate efficiently.
Once you have a coaching practice up and running, you must face the evil reality of promotion and marketing. Yes, you have to promote your business. Most coaches detest this part of coaching, but it is a necessary evil. If no one knows about your business, you certainly won’t have any clients. Without clients you will truly not be a coach.
While you are determining methods to market and promote your business coaching practice, you may also want to think about a specific niche for your practice. Finding a niche is one of the best ways to boost your profits and make a name for yourself in a specific aspect of the coaching world. You could become a small business coach, or a home business coach, or a business coach for women, or a business coach in the customer service industry. There are many segments of the business coaching profession on which to hang your coaching shingle.
Business Coach Salary – What can You Make?
The real answer to this question: it depends! Not the answer you were looking for, but it means that your salary will depend on the work you put in to promoting your practice, the dedication you have to your clients, your continuing pursuit of new knowledge and skills, the selection of a profitable niche, the reputation you develop, and the amount of alternate income streams you create. The average salary appears to be around $4000 per month, but most coaches don’t make that when they are starting out. Successful business coaches will average between $7,000 and $12,000 per month. The more workshops you do, the more seminars you hold, the more books and DVDs you create, the more money you will make. Though becoming a business coach is not a get rich quick scheme, the potential to make a financially rewarding business coach salary is yours for the taking.
Writing Team, Coaches Training Blog Community