Many of us desire to be our bosses and make money from the areas that we are passionate about. Over the years the coaching business has grown, and as at 2015, organizations in the USA were spending over $1 billion in business coaching.
If you are in the training business, adding coaching to it will increase the amount of revenue that you could generate.
It’s another extra source of income. Coaching isn’t easy, and neither is it glamorous. To top it up, many startups, fail within a year. However, there is excitement in doing what you love. You always look forward to the next idea, goal or milestone.
Say, you are offering professional resume writers services, how then do you incorporate a consulting business with your services?
How to Start a Coaching Business
In coaching, there are three main target areas, namely:
• Health and Wellness Coaching
• Life Coaching
• Business Coaching
Each has the potential to increase a business’ revenues. On the other hand, technology has positively impacted the coaching industry. No longer do you need to have an office space in which to hold your meetings.
With video conferencing, it is possible for you to conduct face-to-face coaching from the comfort of your home. The following tips will get you started on your coaching idea in resume writing service:
1. Find Your Niche
There are dozens of coaches and trainers around us. Some we know or know someone who knows one. However, to differentiate yourself from the multitude, you should consider finding a specialization and sticking to it.
The main areas of specialization are:
• Health and Wellness
As the name suggests, they deal with the health and wellbeing of an individual. For example, if you are looking to lose some weight and can’t do it on your own. You may get a Health and Wellness coach who specializes in healthy eating.
You can also opt to explore other healthy living lifestyles option such as taking Yoga lessons.
In our day to day life, we at times seek guidance on the direction to take or affirmation that we are making the right choice. You could be thinking about switching jobs. A life coach may help you think through your decisions.
They provide one with the support needed when facing the intricacies of life.
Some people seek guidance from professionals on matters concerning their careers or work life. Business coaching caters to these areas in one’s life. If you can help others expand their network or progress in their jobs, this could be the field for you.
Brainstorm ideas on what you could teach. What is it that you are passionate about?
2. Choose a business model
While you are venturing into the field of coaching to pursue your passions, you need to make a living, especially if you want to go at it, full-time. You can choose from freelancing to a selling model. Find one that you are comfortable.
Rewards you get from finding your work are high, but you can bag a modest sum with freelance work, too. It’s all about maximizing your abilities and skills. For freelancers, you will need to find a balance between the proportions of own and associate work that you will be targeting.
Relying on a single client may not be ideal. When there is a hint of a potential forecast of a budget, companies can choose to halt a program. If you want to go with business development, you will need to work on your brand and business.
3. Build an online presence
You may have noticed that many organizations are putting more emphasis on their online presence than ever before. The increased use of the internet has shifted the paradigm of businesses. Everyone is getting a website if they don’t have one or revamping their old dormant sites.
Social media is now taking over the advertisement industry. Companies are targeting their audiences using social media platforms. You need to consider setting up a website as it is the first digital impression of your business to online visitors.
Once the website is up and running, you need to start blogging. Write and post articles relating to your niche, to position yourself as a thought leader in a particular field. It helps raise awareness for your business.
Find out which social media platform is commonly used by your potential clients, and build your presence there.
4. Get a Coach and Training
You are probably wondering why you need to get a coach. It is going to be a long and challenging ride before your business stabilizes. If you are doing it part-time, it may be difficult to focus on the issues that matter which could be detrimental to the company.
The right coach will provide you with the support and encouragement needed to keep going. You may also need to consider getting coaching training. Earning a recognized certificate in your field of practice will gain you credibility and make you marketable.
Even though you should have the necessary skills and knowledge in your area of specialization, it doesn’t hurt to go for training. It will help you improve your skills and provide you with helpful tools.
5. Delivery of services
How are you planning on delivering your services? With the numerous technological advances, you are lost for options. The opportunity to get clients from around the world will cause you to consider video conferencing tools.
Get your affairs in order, by ensuring that you have all the necessary equipment to operate seamlessly. Do you plan on recording calls with clients for review later? You will need a record for audio or video record of calls.
You can also sell eBooks on Amazon. It is an excellent way to expand your marketing channels. It may also be feasible for you to create online courses using video, too. How you plan to deliver your services will depend on the market, knowledge, and capabilities.
6. Grow your Network
We choose to hire the services of those we trust or have been referred to, e.g., when looking for online resume writer service. Finding your first clients isn’t going to be easy. Start with your personal and professional network.
Convince them to try out your services. Attend networking meetings. You may have to offer short free coaching services to entice them. Have a marketing plan.
Start a YouTube channel that offers physical training lessons, if you are into personal training. Create a LinkedIn resume if you are inclining towards career coaching.
7. Believe in yourself
You’ve got to have confidence in yourself for others to rely on you. Learn about the best practices for coaches and put them to use. Stay on top of the latest trends in the industry. Remember, others are entrusting you with lives and emotions.
Focus on your strengths and passions to offer the best services to your clients. Clients will choose you because your work speaks for itself. Don’t let them or yourself down.
You should think of yourself as a valuable brand. Deliver on your promises.
Coaching is about dealing with people, face to face. You need to be able to handle unpleasant relationships. Not all people you meet will be kind to you. Learn how to handle such situations.
You need the discipline to succeed, also, work smart. You will face disappointment and challenges along the way. The only way to beat it is to expect it and be ready for it.