Business Coaching - How to Become a Business Coach From a Standing Start

Ever wondered how to become a business coach using the knowledge, skills and experience you have already amassed?

Just 10 years ago, business coaching was not a very well known field. Many of the few who knew a business coach, or who knew about business coaching did not understand the full range of benefits that could be gained by working with a good business coach in a formal coaching arrangement.

Today business coaching is a well respected method by which business leaders, executives and entrepreneurs build up their personal accountability and achieve their business and even personal goals. The demand for effective business coaching continues to rise in all areas of the business world today.

In their book "Execution: The Discipline of Getting Things Done", former Honeywell CEO Larry Bossidy and Leading Business advisor Ram Charan illustrate in no uncertain terms just how important it is for companies to have coaching as a core competency of their corporate culture if they hope to win their marketplaces.

You might be surprised to know that you can build a profitable coaching practice that adds value to companies and businesses even if you have never taken a formal coaching course or been certified by any organization as a coach. All you have to do is to carefully follow the 10-step plan I outline below:

1. Conduct a S.H.E.L.L. Audit

Set aside an hour to two hours and conduct an audit of your skills, hobbies, experiences, learning, and loves (passions). Be very comprehensive in thinking about these things and in writing them down. Now is not the time to be selective or editorial. Just brainstorm and write.

2. Map out your Wealth Capital Matrix

Your wealth capital matrix is my proprietary term for the collection of intangible assets most individuals have access to that can be bundled or packaged for value in the marketplace. They include spiritual capital, social capital, intellectual capital, and financial capital. Every individual and organization has a wealth capital matrix that can be mapped out for increased value and profit.

3. Identify a Target Customer

Identify a target customer that resonates with you and your personal habits, experience and preferences. If you've never been in a big corporate environment, or if you hate to sell to committees, you may decide to avoid mid-sized or large companies and focus on individual entrepreneurs or small companies.
If you have experience with a particular industry vertical, it may be a very good idea to deal with that industry exclusively (at least at the beginning).

4. Identify their core problems and the "cascading effects"

Spend some time to think about the most serious problems of your target customer. Think in terms of the individual decision maker as well as the organization as a whole. Map out the problems that they are most concerned about and how those problems might be related. Your coaching solutions will have more power when you identify root causes that result in multiple problems.



Comments

Post a Comment

Popular posts from this blog

When Bad Behaviour Is A Call For Help

We often think of bad behaviour as a great inconvenience, whether it is from our teenager, our family member, our colleague or friend. It causes us great inconvenience because it just means we have to clean up their mess, and right the wrong. Sometimes these bad behaviours even cause us great embarrassment and we just want them to pay for it. Or sometimes, their bad behaviour just hurts other people with rippling repercussions. It is "almost natural" for us to feel victimised by other people's bad behaviour, we feel as if we are at their mercy (yes even our teenagers) because we feel helpless and we are not able to control them. But what if, their bad behaviour is a call for help? What if, your adult friends or colleagues have huge insecurity issues, power struggles, a need to be in control, are simply unhappy with themselves because they do not have inner peace, and they lash out and start behaving like rebellious teens? What can we do for these overgro
Read more

Business Partnerships and Alliances - Business Networking

Business is all about relationships and connecting the dots. It involves connecting the consumer to the producer and removing any inefficiency in the process. There are many agencies that help you find a business partner and connect the suppliers and buyers. They act as the intermediary and smoothen the process and flow. They keep a record of all the potential suppliers and buyers and help in arriving at the perfect choice between the parties. Business partnerships are like marriages whose foundation is built on analysis and financials. Some suggestions that should be considered while entering into a business alliance and include: 1. The business should have a sound plan and the company should undergo a SWOT (Strengths, Opportunities, Weaknesses and Threats) Analysis. This would enable them to identify their needs and then chalk out a strategy to meet them. 2. Once a partner or a list of probable partners is drawn up, a process of due diligence should be followed which ma
Read more

Forex Trading Tips You Should Know in 2019

This article will give you some new Forex exchanging tips. You will get 5 hints that may enable you to make progress as a broker in 2019. On the off chance that you are another broker, this field can be somewhat overpowering for you. All things considered, not realizing the guidelines can't enable you to succeed. Fortunately our tips are gone for tenderfoots. Along these lines, on the off chance that you are simply beginning, do look at the tis given underneath.  1. Run With a Wise Broker  For one thing, ensure you work with the correct intermediary. A simple route is to peruse surveys and consider the proposals given by others. Likewise, ensure you run with an expert who suits your identity and is reliable. Remember that there are many phony aces out there. In a perfect world, you might need to pick an authorized dealer.  2. Set up together Your Own Strategy  Regardless of what number of Forex exchanging tips you have, in the event that you don't have a strong methodology, you
Read more