Becoming a business coach will help you and those your serve for the long-run.
The COVID 19 Global Pandemic is quickly changing all our lives. It will require a steep learning curve and we will have to make massive adjustments to adapt to this new normal. Companies are facing the difficult decision to furlough or lay off large numbers of employees and many businesses, as we know them today, may never be the same. While the narrative sounds like some sort of apocalyptic story or movie, it is real and getting more even more dramatic every day.
As an employee of any company the security and stability that past generations might have had and expected is not our current reality. Employees know all to well that job security is no longer a given under normal circumstances. Now during this crisis, it is even more clear that being beholden to a company for your livelihood and your future is even more uncertain.
So instead of lingering in uncertainty, it is time to make real change and invest in yourself and your future. Business ownership may have always been in the back of your mind and every economic downturn again sparks the entrepreneurial flame inside you. Now may be the perfect time to follow through and venture forward to launch a career that will last longer than the current crisis.
While many business owners are facing uncertain futures, those that with the right guidance can pivot to survive and thrive past the current crisis. These successful businesses will be those that seek out the right counsel and the right direction more often provided by a professional and certified business coach.
Just like legal advice or accounting services in the past two decades business coaching has grown into a highly respected and sought-after profession. Business coaching has grown faster than most other industries, second only to IT. Business coaching is supplanting traditional consultancy because business owners are looking for long-term change and evolution of their operations. They are no longer simply investing in short-term fixes or high paid specialists to come and identify gaps or opportunities. They are choosing to embark in a systematic, process of transforming their results by employing a Business Coach as a permanent part of their day-to-day operations. Now, a $15 billion industry, business coaching is a burgeoning powerhouse of change. It is no longer a “nice to have” luxury for businesses and it will prove to be an even more valuable service as businesses and owners stare down this pandemic’s impact.
Business coaching is remarkably recession or crisis proof because it can be done remotely and virtually anywhere in the world. You don’t have to be specific industry expert and you don’t have to have industry specific training. As a generalist, who builds on business fundamentals, you apply processes, strategies and systems that help businesses make more money, build better more effective teams and give business owners more time to enjoy their lives. The principals are foundational and your ability to guide and influence clients becomes much easier as you get them incremental and steady results.
Becoming a business coach taps into the business experience and skills you already have and it gives you a chance to leverage your education. Being a business coach allows you to share your experience and your expertise with many businesses in your community. Becoming a reputable business coach makes you an immediate go-to resource for your community and establishes you as a thought-leader who makes a positive impact on your municipal economy. With the right support and training you can start a business coaching practice or firm fairly quickly, even in today’s environment.
However, simply hanging up a shingle and calling yourself a business coach isn’t the best course of action. Choosing the right partner who offers you extensive and ongoing training is critical. You need a strong brand behind you to help enhance your authority and credibility. You need a partner committed to innovation and one that can provide you the latest and most proven methods, processes and strategies to help you grow your new business and help you get clients’ better results.
Choose a partner with experience and a wide array of resources to ensure you are successful. Also choose a global partner who offers you access to a like-minded, professional group of peers you can tap into is paramount. There are few business coaching companies which can offer all the elements outlined so choose wisely. Here is a quick checklist to help you narrow your choice as you investigate the possibility of becoming a business coach.
- Choose a franchise/licensing partner which gives you the strength of an established and recognized brand. Ensure that the partner you choose is not only well-known, but that it is recognized as an industry leader.
- Ensure that the partner you choose has a vast resource vault you can use to start and sustain your business. Check the quality of the materials from simple start-up collateral to the process and services you can offer to generate additional revenue.
- Check whether the partner offers multiple revenue streams and offers a selection of products to meet any community needs.
- Choose a partner that invests in technology and platforms to make your business even more successful and has the vision to offer state-of-the-art tech to help you grow and manage your clients.
- Find a partner that offers multiple franchise options to match different invest levels and has connections in the business community to help you secure funding and financing as needed. Those that offer Single Practice and Firm Builder options allow you to invest in the best model to meet your financial and revenue goals.
- Choose a partner that will allow you to have minimal start-up costs and will support you with technological and training assets as part of your investment. Ask about the launch support they offer to ensure your business start is swift and smooth.
- Investigate the versatility to let you operate from virtually anywhere including in a home-based and virtual environment.
- Ensure that the partner you choose offers a wide range of training options and ongoing educational support for the term of your contract for you and your team.
- Ask if the partner you are considering offers a ‘guarantee’ and if they stand behind their brand and the services they provide.
- Finally, check with those already working with the partner you are considering and ask for testimonials supporting the brand as further validation of the company’s promises. check their Net Promoter scores and the Franchise Satisfaction Scores for additional evidence that the partner is customer-focused and customer centered.
“No one is useless in this world who lightens the burdens of another.”― Charles Dickens
If you are tired of the rat race and the employment/unemployment roller coaster, becoming a business coach may be the pot of gold at the end of your rainbow. If you want to help others succeed and truly make a difference, becoming a business coach will put you on a path of fulfillment and reward. If you want to take command of your future and be a leader, then becoming a business coach is an opportunity you can not pass up or ignore in today’s environment.