If you’re longing for a career change, you might be wondering what your next move should be. You’ve got the skills and the experience to take your career in almost any direction you want, so which is the best path? What career change is going to provide you with the growth, flexibility and job satisfaction you’re craving but not receiving in your current role?
If you’ve already started researching and trying to figure out your next move, chances are you’ve come across information on becoming a business coach. As the business coaching industry continues to boom, it has never been a better time to achieve your true potential and become a business coach.
If you’re considering a career change and are wanting to experience the incredible professional and personal benefits of becoming a business coach, this article is for you. Check out our guide below to becoming a business coach and taking your career to the next level.
What is Business Coaching?
There is plenty of misconception about what business coaching actually is, so we’re going to make it simple: business coaching is a strategic process that takes a business from where it currently is, to where the business owner dreams it to be. A business coaches’ role is to guide, support and educate business owners so they know what they need to do to achieve their business goals.
Business coaches teach business owners a variety of skills that are necessary for success. For example, a business coach teaches skills in sales, marketing, management, team-building, finance, cash-flow, operations and more. It is important to note, however, that a business coach isn’t a consultant. Business coaches do not do the work for their clients.
Rather, business coaches provide their clients with the tools and knowledge needed to make the changes themselves. At the crux of it, a business coach is a personal educator, a sounding board and someone who is there to be honest with their clients about the state of their business and personal blind spots.
The Skills You Need to Become a Business Coach
It’s often the case that people looking for a career change don’t consider business coaching as they believe they need coaching experience, which is certainly not the case. In order to become a business coach, all you need is a background in management, sales, marketing or finance. Most importantly, you need an entrepreneurial spirit, passion, drive and a deep desire to help others succeed. Here are a few other essential skills you need to become a business coach:
You’re a leader
As a business coach, your main role is to lead and guide your clients, so it’s safe to say you need to have sound leadership skills. Whether you’re inspiring new contacts to sign up as a client, motivating your clients to take the next step in their business or building a team of reliable support staff, it’s vital that as a business coach, you have the skills to lead and bring out the best in others.
Your skills translate well
Having skills in either sales, marketing, finance, business or management is extremely important if you want to be a successful business coach. While business coaches come from a variety of industries – from engineers to marketers, accountants and beyond – being a business coach is not suited to everyone. Your skills do need to translate well in order to be a successful business coach, which is why people with experience in sales, marketing, finance or management have an easier time transitioning to the role of business coach.
You are flexible
A good business coach is flexible in their approach to their clients. Sometimes, clients will throw you a curve ball and you will need to be flexible in your approach to offer the guidance they need, when they need it. As a business coach, it’s vital your clients know you care about them and are willing to go above and beyond when required.
Here’s a Quick 4-Step Guide to Becoming a Business Coach
Step 1: Choose Whether You Want to Buy a Franchise or Go Solo
It’s important from the start to decide if you want to buy a franchise or start your business coaching journey alone, with both options having their pros and cons. Some great benefits to buying into a franchise is that you receive initial and ongoing training, you don’t need to work on building a brand name and you can access expert advice at any time. There are also benefits to starting your own business coaching company, such as the opportunity to get hands on experience starting your own business from scratch.
Step 2: ‘Work’ Your Network
If you buy into a franchise, you’ll already have a wealth of connections waiting for you. However, it’s also a good idea to reach out to your wider network to let them know of your career change as you never know who may be interested in becoming a client. Connect with old colleagues via LinkedIn or by sending out an email.
Step 3: Secure a Mentor
When you buy into a franchise like ActionCOACH, for example, you will already have access to countless business coaching experts who will help guide and counsel you. However, if you decide to start your own business, it’s vital you find a personal mentor.
Reach out to your contacts and secure a mentor as soon as you can because after all, successful business coaches have already been in your shoes and walked the path you’re about to walk. The right mentor can offer you tips and tricks of the trade you might not have otherwise known.
Step 4: Write Out a Business Plan
When buying a franchise, you will already have a business plan waiting for you to use. However, if you’re going solo, you’ll need to create your own. Think about it like this: all you need to do is work through the same steps you would with a client, but this time you’re writing out your own business plan.
Consider things like your mission and vision, your offering, pricing and profit and business model. Also think about other resources like money, time, skills and equipment. It’s also a good idea to create some goals and milestones to work towards as this will help keep you on track
Interested in taking your career to the next level and becoming a business coach? Click here to find out more about ActionCOACH Franchise opportunity.
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