To be a successful coach, you need to be skilled at listening, asking questions and encouraging your clients rather than advising or instructing them. The coaching mindset involves believing your clients have all the skills and answers they need to succeed. Your job is simply to facilitate that success by helping clients reflect on what they want most and creating an action plan to achieve their goals. If you are considering starting a coaching business, ask yourself these seven questions.
- Do you have the right qualities to coach? Successful coaches are expert communicators. By listening and understanding their clients’ needs and goals, you build rapport and respect over time. For coaching to be successful long-term, your client must feel he or she can share their fears and weaknesses without criticism. A coach should not only motivate and inspire clients, but also isn’t afraid to dig deeper to uncover motivations and the heart of problems.
- Are you self-motivated? Most coaches are self-employed, which gives them the flexibility to set their own hours and decide which clients to take on. However, self-employment is more than working with clients. You must be able to market your business to attract new clients and budget your expenses to manage slow periods.
- Do you need certification? While formal training isn’t necessary to become a coach, you might consider signing up for coaching certification courses to help you facilitate chance in your clients’ lives. Certification becomes more important if you are working with executive-level clients or another coaching specialty niche.
- Do you have enough money to cover the start-up costs? Make a list of all the costs you may have to get your business running include technology, marketing materials, office supplies, and legal fees to set up your company.
- How much will you charge? Will you charge by hour or offer a monthly rate? Will you offer free consultations? Look at what other coaches within your niche charge and figure out what the fee range is. Then, set your fees accordingly.
- How long will you work with clients? By nature, coaching is a long-term investment. Unlike consultants who enter the picture, solve a problem, and leave, coaches can work with clients for a few months to several years. Most coaching commitments run for a three-month, six-month, or year long period but do research on other coaches within your specialty to see what the “standard” is.
- How will you attract clients? Who would be an ideal client for you? Do you have any prospects to follow up with? Successful coaching starts with getting your first client.
Coaching can be an extremely rewarding career but it does take some work to attract and keep the right types of clients. These seven questions can help you determine whether starting a coaching business is right for you.
