I'm almost sure that when many of us think of coaches and coaching, we
automatically associate it with sports. Truly, sports coaches are the
most popular and widely thought of. Their primary job is to teach
athletes to play and work together as a team. However, in a much wider
sense the word coaching encompasses a world of opportunity. For
example, there is what we call as "business coaching". Do you know what
a business coach is? If not, you should take the time to familiarize
yourself. Why? It is a great opportunity and one that can translate
into a money making online business.
A business coach is an individual who provides business owners support
and encouragement. This support and encouragement gives them that extra
push they need to see success.
The most common users of
business coaches are new small to medium sized business owners. These
individuals usually have a passion and they want to profit from it. For
example, a stay-at-home mother may enjoy making handmade quilts for her
children. One day, it dawns on her that she can make custom order
quilts to sell both locally and online for a profit. She has a good
idea and a good product, but does not know where to start. This is
where a business coach, which could be you, would provide assistance.
What
do business coaches teach their clients? Anything and everything
related to business. If the above mentioned mom wants to open a local
quilt shop, you can show her the importance of location. A
high-trafficked and easily seen storefront will automatically translate
into more customers and sales. If she has yet to pick a location, help
her make the right choice. As for an online shop, if she has yet to set
that up, help her choose an affordable web hosting package, a good
domain name, and encourage her to hire the services of a professional
web designer.
Some clients seek the advice and expertise of a
business coach right from the start, but others wait until their new
business shows signs of trouble. In these instances, business coaches
educate their clients on marketing and sales. A stay-at-home mom
selling her handmade quilts online is nice, but handmade products are
widely available online. Just because she has a well-designed website,
it does not mean that people will find it. Business coaches need to
stress the importance of online and local marketing, as well as
highlight a few examples for their clients.
In keeping with the example of a work at home mom
who wants to profit from her talent, most of these individuals want to
be self-employed. They want to work for themselves and have no hired
help. This does lower costs and increase profits, but many new small
business owners make costly mistakes. One of those mistakes is taking
on too much, too quick. Business coaches should also stress the
importance of time management and show proper techniques. For example,
the above mentioned quilt selling mom should have a waiting list and
inform customers of a long wait, not stay up all night making quilts.
One
question that those interested in running a coaching business ask is
about profits. Most clients are new business owners or business owners
who aren’t seeing profits. How can these individuals pay for a business
coach? Honestly, some cannot, but many can. Business owners need to
look at it from the standpoint of a wise investment and you must do the
same. For a small to medium sized business
that is barely staying afloat, a professional business coach may be its
last hope. For that reason, you will always find clients willing to
pay for your service. With that said, fair rates and flexible payment
plans cannot hurt.
In short, coaching involves more than just
teaching an athlete to beat the competition; it encompasses many things.
If you have a business management degree or prior experience running a
small to medium sized business, take your degree and experience and
turn it into a profitable career. Become a business coach.
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