A successful coaching business is rewarding because of the work and because having a successful business means flexibility and earning financial rewards. The big question for many new coaches is the how. How will you start and operate your coaching business? Start with your goals, consider your obstacles, and plan how you will move forward. Here are examples:
Goals: What do you want your business to be?
- Number of hours working
- Percentage of time on coaching and percentage on other types of work
- Number of clients
- Level of income
- Positive impact through the work
- Number of referrals from satisfied clients
- Reputation in the profession
Obstacles: What could prevent you from building a successful business?
- Unsure of steps – unaware of requirements or the how to
- Overwhelmed – so many things to do unsure how to start
- Fear – fear of failure or fear of success
- Competing priorities – a job, family, or other work commitments
- Time and money – building a business takes time and money before it pays back
- Confidence – wondering about abilities
Options for Moving Forward: How will you move past your obstacles?
- Take coach training with a program that provides information on building a business and attend the classes
- Take coach training with a company that provides resources for building a business and utilize the resources provided
- Engage a coach for yourself
- Be intentional with your planning – for example, use the worksheet provided students at the Center for Coaching Certification on action steps for building a business
- Anticipate and plan for the time and money to start and build a business to the point where it is earning
- Utilize the tools provided through whole person coaching to build your confidence
Coaching is the second fastest growing profession in the world (per Ray Williams) and the opportunities are amazing. The work is richly rewarding and provides powerful benefits for the clients served. Focus forward on the how for your success.