One of the best coaching niches for the near future could be business success coaching. Individuals have discovered the power of coaching; it’s time business found out how coaching can help them find profitability and success. It’s time for you to enter a field with room to grow and succeed.
Small Businesses Rule
There are many types of coaching for businesses, but here we’ll focus on small businesses. There are 28 million small businesses in the United States, and those businesses account for over 50% of sales in the country. The small business sector accounts for up to 50% of all commercial space, and provides over 8 million jobs. Small business matters, and when you become a business success coach, you can help them matter even more!
What is Business Success Coaching?
Business coaching is all about working with clients, identifying reasonable and measurable goals, creating strategic plans, and helping business owners and managers to develop basic business skills and obtain basic knowledge of various business techniques.
Coaches will help with performance review, leadership development, team coaching, marketing assessment, and making a profit!
Are You a Business Coach or a Consultant?
Though consultants are not usually considered coaches, in the small business realm, the line between the two are blurred. You can call yourself either one, and you can have experience as a coach or a consultant, and still design a practice that focuses on business success coaching. When working with small businesses, coaches and consultants often perform the same tasks and provide their clients with similar outcomes.
Before You Begin as a Business Success Coach
Before you hang out a shingle and call yourself a coach, take a few moments to do a basic checklist to see if business success coaching is right for you.
- Check your experience level. Do you have some small business experience to draw on? Do you have any business experience that will help you find outcomes for your clients?
- What skills do you have that brings value to your clients? Do you have knowledge, experience, or training?
- Figure out why you want to be a business coach. What is your mission and what is your vision?
- Get trained if you haven’t already. Good coach programs are worth it – you’ll learn coaching skills, gain more knowledge, get practice coaching, and have more tools for your coaching toolbox.
- Create a business plan. There are great business plans templates online for you to follow. Take some time to write a good business plan that will serve as your founding document and your reference guide.
- As part of your business plan, create a comprehensive marketing plan that details how you plan to market, identifies your target market, and describes how you plan to measure the effectiveness of your marketing.
- Learn the problems most small business owners have, and develop outcomes that solve these problems.
- Check your ego at the door. Business success coaching isn’t about your success – it’s about the success of your clients. Of course, if they find success, you will, too!
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