Developing a Coaching Business 

 October 20, 2020

By  Dave Litten

How should I approach developing a Coaching Business?

In today’s competitive environment the pressure on coaches and managers to get the best out of people continues to grow – the way to achieve this is through coaching small businesses.

Coaching is extremely cost-effective and reaps great rewards – providing the coach understands the process and obtains the necessary skills.

Coaching skills will help you and your clients develop enduring personal and professional effectiveness

Do you, your client, or your team need to be better at getting people to own tasks and work without supervision?

Coach or Consultant?

Don’t get confused!

We all have ‘an inner coach’ waiting to be brought out.

Coaching is a life-skill, and to be successful, you only need to know a little more than your potential clients.

You don’t have to be ‘an expert’

Consulting is just a way in which to deliver your coaching skills.

I have to say, from first-hand experience (I coach in project management methodologies), that offering yourself as a coach provides huge benefits to your clients, and is a very lucrative business model for your own business!

Developing a Coaching Business

Learning should be as natural as breathing

We learn when we find ourselves in an unfamiliar situation – when we try something new and when we interact with other people

We learn most of all when we take time to reflect on how our attitude and behavior has a positive or negative influence on our collective ability to meet our goals

Coaching skills will provide you with a deep understanding of the coaching process, to develop your coaching skills and embed them to your clients or your workplace

Coaching helps a client to improve their performance by observing, giving feedback, and inspiring new thinking.

Coaching starts at the present and moulds the future, it helps define what and how you will you go about it

Coaching does not attempt to provide answers nor solutions.

coaching for success

So What is Coaching?

Coaching is defined as:

“A collaborative, solution-focused, result-orientated and systematic process in which the coach facilitates the enhancement of work performance, life experience, self-directed learning and person growth of the coachee …

In a business context, coaching means improving performance at work by turning things people do into learning situations in a planned way, under guidance”

What are the differences between Coaching and Training?

coaching for success

Coaching is a way to apply learning in an informed way

Training hopes that learners will remember knowledge so it can be applied

Unfortunately, humans don’t remember very well – an average of 50 percent of the information received in a presentation is forgotten after one hour

After 24 hours, on average, 70 percent is gone, and within a week a staggering 90 percent is nowhere to be found

Training is not enough!

Coaching is the best way to reinforce and remember valuable information

How Coaching Helps

Improving performance – by using a range of learning experiences to bring about improvements

Changing things people do – which become opportunities from which all parties can learn

Planned and structured approach – to get the most out of the situation

Guidance – where the coach transfers knowledge, skills, and experience

The Art of the Business Coach

Coaching is the art of facilitating the performance, learning, and development of another

Coaching helps someone perform a skill or solve a problem better than they would otherwise have been able to

Coaching brings about improvement either at work or home; especially where a change in performance is required

Coaching is not just about improving an individual – it can be about coaching a team.

Better yet, coaching can bring about huge improvements in the use or application of a method, a process, a system, a product, or a service.

Coaching is aimed at medium-term performance improvement in the current job with an emphasis on learning and its application.

It provides focus on the whole assignment and is usually carried out by a senior manager or better yet, a specialist coach.

One of the most sought-after coaching services is that of marketing – read on if you want to find out more …

The Characteristics of an Effective Business Coach

Prioritizes and plans the coaching carefully, ensures involvement in and agreement to goals set

Continually creates opportunities for learning and development including the necessary support and resources

Is highly competent and acts as a role model for others

Shows patience and understanding, encourages and supports when things are not going well

Reviews progress regularly and provides straightforward, constructive, and confidence-building feedback

Keeps everyone informed on anything that could impact performance

Allows individuals to do it their way offering advice and suggestions as needed, does not use command-style

Challenges and sets high expectations, encourages risk-taking, and understands that learning comes as much from failure as it does from success

Clearly explains concepts, techniques and provides information as and when needed

Think You’ve Got What It Takes to Become a Business Coach?

Typically good coaches will use and follow these principles:

Listening is more important than talking

What motivates people must be understood

Everyone is capable of achieving more

A person’s past is no indication of their future

People’s beliefs about what is possible for themselves are their only limits

A coach must always provide full support

Coaches do not provide the answers

Coaching does not include criticizing people

All coaching is completely confidential

Business Coaching is a Lucrative Business

Want to get your hands on a Coaching Business In a Box to start your very own income-generating business within the next 10 days?

Then check out Projex Academy’s video training “Become an SME and Small Businesses Marketing Consultant

Dave Litten

David spent 25 years as a senior project manager for USA multinationals, and has deep experience in project management. He now develops a wide range of Project Management Masterclasses, under the Projex Academy brand name. In addition, David runs project management training seminars across the world, and is a prolific writer on the many topics of project management.

The Projex Academy

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