Do you wonder how to take your coaching skills to the next level? Are you inspired by successful coaches in the world?
Are you curious to be an expert as a business coach? Do you goggle and think- How to get new coaching clients knocking down your door?
If your answer is yes to all the above questions then you are at the right place. Just relax, I will help you to achieve your dreams. By the end of this article, you will be ready for the next leap in your venture.
Today I would be sharing some great tips and strategies of top business
coaches that will help you achieve phenomenal growth in your business.
If you’re curious to be an expert as a business coach or move up in your career- you will like this article.
Be ready to learn the top secrets and methodologies that I have used to upscale my business. If you are dedicated and determined to learn and apply these tips then nothing can stop you from achieving sky-high growth.
Before I start, I want to congratulate you for reaching so far in your venture. Pat and applaud yourself for all your hard work and determination. Also, be grateful to all the people who pushed you to be what you are today.
Reaching so far in your career is not easy and moving forward also won’t be a cakewalk but together we can carve the path for your success. Are you excited and ready?
Let me first discuss some of the basics of being an expert business coach.
- Who is an expert business coach?
- What types of people hire an expert business coach?
- What do expert business coaches do?
- Why do people hire expert business coaches?
- Find your industry and niche
- Do I need business coaching certification?
- How much does an expert business coach earn in 2021?
- World’s top 5 business coaches you must follow
- How do successful business coaches help their clients?
- Top qualities you should own to be an expert business coach
- Frequently Asked Questions (FAQs)
Who is an expert business coach?
Are you thinking expert business coaches are coaches with supernatural powers? Is that your image of expert coaches? If yes, then you are wrong!!
When I entered the coaching industry even I had this picture in mind. However, with several years of experience as an expert, I realized that an expert business coach is someone who aligns their strategies and methodologies as per business goals. As an expert, you should achieve continuous growth for your clients’ business.
You as an expert business coach should have expertise and experience to make your clients’ business successful.
Are your clients achieving success with your expertise and experience? No? Then you have to work hard to get there. You as an expert have to set certain guidelines that would help you to achieve continuous growth for your clients’ business.
I will share a few guidelines that you should follow and see the difference in your coaching approach.
Do you think creating accountability might discourage your client to connect with you? Are you hesitating to promote self-discipline and make everyone accountable? Yes? Then this is the biggest roadblock for you to be an expert business coach.
My first guideline for you is, you should promote self-discipline and make everyone accountable. You have to set goals for your clients’ actions and make them accountable for their growth.
You have to foster positive accountability for your actions too. You are equally responsible for your clients’ profits and losses.
You don’t have to penalize anyone but make everyone liable and answerable for their respective actions.
Accountability creates full participation and empowers everyone to achieve their goals.
Accelerating business growth
What do you think- what can accelerate business growth? How can you
achieve growth for clients’ business?
As an expert, you have to understand and identify strength, weakness, opportunities, and limitations of the business. Once you are through with this step then you have to build strategies and preventive measures that can accelerate business growth.
Create a concise plan for your clients to achieve their goals. Find innovative methods for their business and use appropriate marketing tools to build their brand.
You have to optimize all the resources to full potential to achieve maximum growth. Got it? It means you have to find out methods to utilize the available resources to its maximum level to achieve maximum growth for your clients’ business.
Finding business success formula
Is it difficult to find business success formula? Are you confused and wondering- what could be a standard formula for all the business?
What if I share with you secret business success formula that you could apply to all the businesses? Yes, you read it right, one secret formula and i.e. keep the customers happy.
You have to understand the customer behaviour of your clients’ business. This will help your clients to build the best products for their customers. This will be a win-win situation for you and your clients.
Hiring the right people
Do you have talent strategy for your clients? Do you know the exact requirements of your clients? If not, then first find out what your clients want. After that find out what skill sets and experience are required for the candidate.
Always hire quality people and see the candidate is a cultural fit for the company or not. Also, check what the candidate can offer to the company’s growth.
You as an expert business coach should know to hire the right people for the right job at the right time. Any business can achieve growth if the people in the company are skillful and creative.
Developing winning strategies
You must be thinking about how to develop winning strategies, right? Don’t worry I am there this side.
Firstly, you have to analyze strengths and weaknesses, assets and liabilities, profits and losses of your clients’ business. Secondly, analyse the company’s operating environment, customers, stakeholders, and competitors. This will give you a comprehensive picture of your clients’ business.
To create a winning strategy you have to be futuristic as an expert. You have to build a strategy where all the resources are fully optimized for the company’s growth.
What types of people hire an expert business coach?
Are you aware of the demand for an expert business coach? You are in the era of high rise coaching industry. However, this was not the case when I started. Coaching industry has seen massive growth in all the niche and by 2022, business coaching practice will grow by 6.7%.
In today’s competitive world every business needs an expert coach to build their business. They need advice and guidance to be successful. You can guide entrepreneurs and professionals to achieve their goals.
Look around, you will see many start-ups at their early stage of business. They all are waiting to be mentored by experts. What are you waiting for? Just grab this opportunity and connect with start-ups. I have mentored many start-ups at the beginning of my career which helped me to grow as a business coach.
Start-ups face a lot of challenges due to the dynamic market environment. They need expert mentors who can understand and explain the complex environment. You can help to make a solid plan to achieve the goals of the business.
It’s the right opportunity for you to use your experience and expertise to build the path for start-ups.
Now, you must be thinking why MNCs need business coaches, right? MNCs need expert business coaches as they undergo constant changes in their organization.
As per my experience, MNCs need expert coaches to motivate their employees and build the right team for them. I am part of many MNCs and have been successful in building teams and employee retention.
You have to act as a catalyst to the employees so that they are motivated and loyal to achieve the business goals of their companies. You have to strengthen employees’ skills which can help them to be more efficient and productive.
I have seen many professionals lack marketing skills and are unaware of digital media. You have to use your skills and help them build marketing strategies that will be fruitful for their future.
Professionals have knowledge and expertise but confused to take decisions. In that case, you have to guide professionals and share your expertise and experience.
A lot of innovations have taken place and the technology is growing every day. With this, the entrepreneurs also need to improve and match with the time.
They have limited team base and thus, you as an expert coach have to guide them on how to use resources well. This will improve the productivity of entrepreneurs and in turn maximize profit.
What do expert business coaches do?
You must be wondering what role as a business coach you need to perform.
When I was given the role of a business coach, I didn’t come up with the introduction or the outcome of the whole story. I actually came with blank pages which were not even filled by me. All I had to do was give those blank pages to the client. The team members and the leaders used to fill in those pages.
Hence, you must have got it clear the expert business coach just guides the team with concepts and tools so that the team can write a story which is meaningful.
Are you still thinking how practically the illustration of a story works? What exactly you as a business coach need to do for achieving desired goals?
It is simple you do not spoon-feed the team to move from point A to point B. You are just there to guide them and let the business find the issues and resolve them. You as an expert can sharpen your skills and check which 21 coaching skills every successful coach needs.
I also believe that as an expert business coach you need to bring in new ideas. Don’t you think that is what actually defines discovery? You need to discover the strengths and weaknesses too, both at the individual as well as company level.
Remember, I mentioned previously that I do not write any business story. I just hand over the tools to the team members and they do the writing. Hence, once the strength and weaknesses are understood, proper planning is possible.
I make sure the strengths of individuals are in alignment with the mission of the company. For weaknesses, all you need to do is identify them and then eliminate them.
As an expert business coach, you should be good at:
Organizing & Planning
You make sure that all the organizational process is in place. For instance, I used to create logical systems which would work wonders in achieving business goals.
Finance & Funding
Why knowledge about managing finances is essential? The answer is to create pricing strategies for your clients and bringing funds. It involves an understanding of profit and loss ratio and managing cash flows.
Marketing & Branding
Do you think business would perform without promotion? No, of course not. You should select the right channel for advertising. This is the time when your public relation skills work. You should also develop branding strategies to upscale the business.
Operations & Strategy
Operation and strategies form the core of any business. Business operations depend on the smooth functioning of all the departments. With my previous experience in operating a business, I could resolve issues effectively. You should form strategies which help in placing the company in the right place.
Human Resource Management
People are an important resource of any business for achieving 100% success. I often came across people who were disappointed and demotivated. Building a positive mindset is essential. Will you be able to work if your mind is upset? An expert business coach understands this and does not overlook the needs of the team.
Why do people hire expert business coaches?
Keep and Emergent Research had found that, out of 94 percent small business owners surveyed, only 65 percent were sure they would achieve their business goals. This is where an expert business coach comes into the picture.
It is known that successful people have experts behind them. One business owner told me that his business is 20 years old. He wanted to take his business to the next level and so, he appointed an expert business coach.
When you see around you will see people want to up their game in the business and are ready to hire business coach expert.
Expert business coaches are hired because they bring invaluable growth to the company.
Expert coaches motivate and guide people to face challenges and overcome failures. This helps to overcome all roadblocks and achieve the targets.
Find your industry and niche
Do you ever feel stuck in your business and confused regarding how to get new clients?
As an expert, it is very important to find industry for your business expertise. If you want to be successful then you must choose a particular niche. It is required to earn millions each month and get impressive results too. If you don’t specialize then you will be lost in the crowd.
I was clear that my weakness was not being able to identify who all are my ideal clients and how best I could serve them. For this, I consulted certain marketing experts too. One of them advised me to research the potential industry in detail. This is because different industries have different qualities. For example, some niches have a problem but lack the money to pay the fee.
You must ask questions as below:
Which of the needs of the clients are under-served?
Check out the list of your favourite clients. Ask yourself why they are your priority.
If you target everyone and do not find a niche it may harm you in the long run.
Select one industry from different industries available in the marketplace. Once you select the industry it will be easy for you to understand your clients’ requirements.
What is the major requirement of your client? And how you are able to connect it with your expertise?
Thus, having a specific niche makes it easier to play your role and stand out in this competitive world.
Don’t forget to check 40 coaching tools to grow your coaching business after you finalize your niche and industry.
Do I need business coaching certification?
But how did they actually become an expert coach? Did they apply for any course or certification?
There is no need for a certification to become a business coach. Yet, for the credibility purpose business coaches need certification.
So what all certifications are there?
International Coach Federation (ICF) and World Coach Institute (WCI) provides certifications to coaches. Certification helps you develop associations with other certified coaches. This network of people will help you to build your brand. It is important to gain experience and develop great skills if you are part of any certification course.
Institute for Transformational Leadership at Georgetown University offers the “Executive Certificate in Leadership Training” program. This program is appropriate for students who are eager to coach business leaders and is provided on-campus only. The program charges $11,995 and is accredited by the ICF.
Another program is offered through Duquesne University School of Business which is affiliated under ICF and tuition fee is $7,295.
Before enrolling you must ask: How they provide the coaching online or classroom or combination of both? What is the duration of the course? What materials are included in the course?
After you get answers to all your questions and are satisfied then you can do the certification.
How much does an expert business coach earn in 2021?
The coaching industry is growing at a rapid speed over the past decade. This is because many businesses are hiring coaches to achieve their goals. The study suggests that only a small percentage of people have hired coaches. Still, a large number of entrepreneurs and professionals are yet to hire coaches.
Business coach practice will grow at a rate of 6.7% by the year 2022. Coach profession has a great future wherein you can earn $235/hr or even more as per the size of the business. Experienced coach charge somewhere around $400/hr to $2,000/hr.
Don’t you feel there are high chances of earning great money in this profession?
You have great demand as people are ready to hire skilful coaches to achieve better results. There are higher chances for you to upscale your brand. All you need to do is cultivate a high-quality clientele.
World’s top 5 business coaches you must follow
Now the question is who you should follow.
How do successful business coaches help their clients?
You may think business coaches are only focused on motivational speaking. However, that is not the case. For this, you need to observe the qualities of best remarkable leaders:
He is a global leader and has shared a lot of brilliant thoughts on how to develop a coaching brand. John Mattone quoted, “It’s not about the organization you want to create, it’s about the organization you must create.”
Dr. Marshall Goldsmith
He makes leaders believe in themselves. His methods are practical and tested. Coaches should shift their focus from themselves to their client to be an expert. Dr. Marshall Goldsmith quoted, “People who want to succeed see opportunities where others see threats.”
Paul Martinelli said, “You get what you fight for.” It is clear through this that if you want to achieve your dreams then be ready to fight for it. It is better to spend time on what you like and achieves success.
Dr. Marcia Reynolds
She is an expert in understanding the minds of people and thus, transforming the behaviour. Dr. Marcia believed, “Effective leaders help others think more for themselves.” Her coaching has helped people in achieving effective conversations.
Do read about the top 20 business coaches in the world and get inspired.
Top qualities you should own to be an expert business coach
What traits you must possess as a business coach?
This is essential. You may think that certification is enough. Whatever I achieved is not just because of degree but the qualities which I have learned in my journey:
Learning & Innovating
Do you believe in trying new ideas? What will you do if plan A fails? A business coach should always have a positive attitude towards learning new things. This comes with experience and the amount of time you give.
Instead of getting upset, you need to look at the big picture. Creating new strategies would help the business grow. If any plan fails, innovative thoughts are the need of an hour.
Marketing & Networking
How good you are at communicating? Are you aware of various promotional strategies? As a business a coach you should know how to sell ideas.
The business will expand only if coaches market it well. You need to identify who to contact and how.
Determination & commitment
These two qualities of business coaches help them to be always with their clients. What will you do if your client is worried about the upcoming risk?
You need to show your determination and full commitment.
Association & Evaluation
Don’t you think if you form teams, you would deal with problems in a simpler manner? Indeed, you will. Another part is evaluating the situations.
During critical times, you need to analyse things and then take decisions. For instance, try the 360-degree approach which I used to do often for checking results.
Appreciation & Altruism
I believe in the magic of appreciation and altruism. I always appreciate people around me as it brings a sense of positivity and responsibility in them.
In the journey of business coaching, you have to be selfless to your clients. If you are selfish then you will not be 100% true to your clients and that association will not go a long way.
Frequently Asked Questions (FAQs)
What makes a good business coach?
If you are looking for a good business coach you should expect a lot of things from him. First, he should have a good education and experience in coaching business people. Second, he must be aware of the market and trend. He must be up to date with new technologies and market strategies. Last, he must have a good knowledge of the current market and how it works.
What types of people hire an expert business coach?
Being an entrepreneur can be very exciting and rewarding, but it is also hard work, very hard work. You are on your own when it comes to your business. You can share your business ideas with your friends, but they are not going to truly understand what it is like to start and run a business, because it is nothing like they have ever done. All they will be able to do is offer you sympathy, and not much else. Talking to someone who has been through what you are going through can mean the world to you. An expert coach will not only understand what you are going through, but is also trained to help you find solutions.
How do you become a professional business coach?
When it comes to business, there’s a lot about professional business coaches. You can accumulate knowledge, but you’re never going to be a professional (or even a particularly good) coach unless you master three crucial skills. The first is being a good listener. The second is being able to build rapport with people. The third is being a genuinely caring person who is looking to make a real difference in the world, and who is not going to talk at people, or use them, or be in it for the money.
How do successful business coaches help their clients?
Good business coaches work with their client to figure out and set SMART goals. A business coach doesn`t just tell you what you need to do, they do the work with you and help you achieve those goals. By working with a business coach you will be able to move forward confidently and meet your goals.
How much does a business coach make?
The salary of a business coach depends on several factors, such as the responsibilities of the job, the industry of the employer and the location of the job. For example, the average salary of a business coach in the U.S. is $108,000. That is the average, which means there will be some people who earn more than that and others who earn less. A business coach at a company located in a large city will most likely earn more than a business coach working at a modest-sized company located in a small town.
Can I be a business coach without a degree?
Yes, you can be a coach without a degree. There is an increasing demand for business coaches around the world, so you can find a way to get into this field. However, there is a growing demand for high quality coaches, so I recommend you to at least have a certificate or degree in coaching. You don’t have to have a degree or some advanced coaching certificate to become a successful coach. You just have to have the right knowledge and be able to share it with others.