If you’ve built a successful business, you’ve got a wealth of knowledge, skills, and advice to share. You may need to hone your leadership skills, but there are plenty of struggling business owners who’d happily pay for a professional to coach them on their journey to profitability and freedom.
Business coaching has been around for decades. Even the most popular entrepreneurs like Steve Jobs work with coaches to level up their services and businesses.
And as a coach, it’s rewarding to see so many talented business owners transition to coaching.
So if you have the personal goal of becoming a business coach, this guide will help you on your journey.
how to become a business coach
- Do I really want to help other people reach their goals?When you think about it, qualifications are more than your skill set or expertise. Start with your personal attributes. You need to be emotionally and mentally prepared to help others. In a nutshell, you have to:
- Explore, clarify, and align with what someone wants to pursue
- Promote self-discovery
- Support in implementing tailored solutions and strategies
- Hold a client responsible and accountable
- Do I possess coaching skills and knowledge?If you’ve built a business you can transition to coaching. But if you want to be successful you need to know how to set up your coaching business, identify your niche, market yourself, develop relationships, create successful programs, and implement strategies to grow a potential client’s business.
- Is there anything else I can do aside from coaching?Sure, you might see yourself spending one to two hours a day coaching a small business owner, but this business is more than that. According to ICF, coaching is just a single revenue stream that produces 13% of your profit. So whether you like it or not, your business growth and profitability will rely on these areas:
- Consulting
- Training
- Mentoring
- Teaching
- Counseling
- Webinars
- Workshops
- Public Speaking
- Media mentions
BUSINESS COACH CERTIFICATIONS – DO YOU NEED A DEGREE TO BE A BUSINESS COACH?
This is probably one of the most common questions I get when it comes to business coaching.
Frankly, no. You don’t need a degree to become a business coach.
But, if you want to boost your credibility, earning coaching credentials from an accredited organization like the International Coaching Federation is a huge help. Based on ICF’s study, 83% of clients agree that accredited credentials are vital. And this drives 77% of coaches to get certified.