Q: What are the steps to become a business coach? Do I need to hyper successful already to help other people how to profit from their passion? What if I'm not a guru... or outgoing or comfortable pitching my products in public? Can I still help other small businesses succeed? In this article we are going to take a quick and easy look at why business coaching is probably the absolute BEST opportunity in the entrepreneurial space these days... and if you've got some online marketing experience, can be a "slam dunk' success story as well! Curious to know more? Continue reading as we take a closer look below!
How do I start a business coaching business?
Very simple. Always start with having an ideal audience, or a niche to target. What profession do you know most about? Where is your own real world experience thus far? You don't have to be a pro... but having experience in a given vocation, and a lay of the land is obviously the sort of audience that you are going to be most comfortable with in the beginning... and they, most comfortable with you.
For example - most of the business coaches in the hyper profitable medical space (chiropractic business coaching is probably the most notable example) are in fact, retired or former chiropractors! When I started my first credit repair business many years ago by buying a turn key credit consultant "franchise", the strength of the program for ME... was that the owners were previous highly placed executives at the major credit agencies.
Trust me when I tell you, I don't care if your job history is limited to a few part time jobs in what you perceive to be low value fields, as long as you have IDEAS, and can inspire others to take action, you CAN (and will) make money.
Remember, most traditional business have NO idea how to run a successful online business. They don't know how to start a blog. They can't design. They don't know how to craft an auto responder sequence. They don't know what kind of hosting to choose. They don't know what article marketing is, or how to use social media for PROFIT, rather than plain old fun.
What they DO know?
That they NEED to know... and if they don't start now, they're going to be left behind.
And of course, this is your opportunity to shine.
What do business coaches earn?
Of course, there is a wide disparity in the income you can earn as a coach... from struggling to get by, to thousands of dollars a day in fees and commissions. BUT, the ICF (international coaching federation) says that in 2011, the average HOURLY income for a business coach is over $200 an hour. (with some published reports saying average rates now exceed $325 per hour)
Remember - start by defining who it is that you truly want to serve.
And then clearly identify what it is that you can do to improve their business through your previous experience. (even if the first step is super simple, like offering to build a blog for a specific market in your local community for several hundred dollars, and offer residual consulting at an hourly rate once it's live)
The bottom line is... It's all about value. Not fancy catch phrases or silly strategies that the "gurus" want you to believe work. It's about finding something you are truly passionate about, being willing to dive in and immerse yourself in understanding what professional people truly need, and then actually DOING it better than the mediocre marketers around you.
(and having a whole bunch of fun along the way)
BUILD SOMETHING!
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