How to Become a Business Coach

What is Business Coaching?

By on March 1, 2011

What is business coaching?

A simple enough question, but one I hear all the time–and harder than you might imagine to answer.

So here’s my “elevator pitch” for this rewarding profession and critical business advisor!

Whether you’re new to the industry, considering becoming a business coach, or already have an established practice, maybe some of this language will help you explain what you do to family, friends, and potential clients.

The simplest definition is this:

Business coaching is the process of helping small-to-medium sized businesses increase their profits and improve their quality of life by educating them and guiding them through a process that increases their sales and cuts costs. Typically, you meet with your coaching clients each week for 30 to 60 minutes. Most of the coaching sessions are held on the phone, some in person.

Sound straightforward?

Business coaching is the process of helping small-to-medium sized businesses increase their profits and improve their quality of life by educating them and guiding them through a process that increases their sales and cuts costs.

It is! But there’s more to it, of course, because in the process you provide tremendous value in three simple ways…

Awareness

Your first job is to help your clients become aware of the roadblocks and obstacles adversely affecting their businesses. You do this by digging into their businesses to “diagnose” the issues, and then clearly communicating where they’re falling short. After all, recognizing and understanding the problem is the first step to correcting it.

Education

Next, you guide them to the educational resources they need to overcome their challenges. Many business owners lack any kind of real business training – so you teach them these essential skills using tools, knowledge, strategies, and assignments.

Accountability

In order to make sure your clients actually implement what you share with them, you hold them accountable. You provide feedback to make sure they’re doing the work correctly. You stay positive and affirming to ensure they follow through on their objectives. Accountability is one of the most important aspects of coaching, and believe it or not, they’ll thank you for it.

This ongoing process of awareness, education, and accountability is the heart and soul of business coaching. It’s NOT about cheerleading and pep talks (though that is a small part of
it). It’s about equipping your clients with the information and confidence they need to make drastic improvements in their businesses and lifestyle. And best of all…it changes lives!

Are you thinking of becoming a business coach? Learn everything you have to know with our FREE ebook, How to Become a Business Coach.

Eric Dombach

About Eric Dombach

Eric Dombach is the Founder of Coaches’ Coach. In 2001, he founded a business coaching firm that, by 2005, was generating more than $1 million USD in revenue, 23% operating profit, and average annual growth rate of 140% per year. In 2005, he sold the firm to 4 of his employees for $1 million U.S. dollars, generating a return on capital of more than 800%. Since then he has trained more than 1,300 independent and franchise business coaches in the United States, Canada, Mexico, Europe, and Australasian markets.

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