Business Coaching

[kingroad]

Hello Coaches ~ My niche would have me become a 'Business Coach' as I have worked with, consulted, counseled, mentored, and coached business owners of small to mid-sized companies. They have sales ranging from $2m-$5m per year and have been in business for at least three years.

Does the LCI programs have specific training lessons to implement in the Business Coaching niche? I understand from these previous threads that the goal setting, etc. is the same but is there more specific details that would pertain to business coaching?

Dan

[tonia boterf]

Hi Kingroad

Like you, I have a background in coaching to start up small businesses & non-profits, I also did complete business systems analysis - going in and looking at all aspects of the business in detail and then figuring out what was working and what wasn't and solutions.

I'm making some assumptions in what I think you are asking and my answer to your question would be 'no' as far as materials.

Regarding your question on differences between coaching a small business vs a larger one, you already know that the larger the business, usually more complex the issues. Business Coaching, regardless of the size, still depends on the person your coaching and their commitment to the coaching process and their ability to implement the changes desired - the business can control that (board, shareholders, a supervisor). If you are coaching someone like an owner, President, CFO, COO, etc., I think the expections of what they get out of coaching is greater. They'll pay big money, but you have to be able to produce results. Executive coaching was the first type of coaching. But the skills used in coaching are the same in anything you coach. You refine them and yourself, develop more tools & knowledge that will attract a different market/target audience but the basic quality coaching skills, are the same. My humble opinion. I think it's the knowlege gained and how it is used, along with good coaching skills, that makes the difference in 'success'.

To be really successful financially, you'll have to do typical coaching, mastermind coaching and have major high priced products. Even someone like Dan Kennedy who gets $18,000 an hour, still has mutiple streams of income. (his mastermind group is $99 mn, first 3 mns free and you get a lot of material) To get to that point, you still have to start your business at square one and build it and your successful reputation. The competition is fierce and can be cut throat compared to the days before the internet for when it wasn't so easy to find business consultants from anywhere in the world and meet with them virtually, instead of in person.

My business is half and half. Half is niched for people caring for their aging parents and that is my primary website and I already have many articles and 3 books done. My business website is in development and the materials and products for it too. Current clients are from both. I have much more competition to work around in the business arena. Currently in a slump and need clients but gives me time to work on projects and book that will be on Amazon end of Dec. Building the business is slow and lots of hard work, competition is unbelievable on the web and much harder to know who is good and who isn't - no reall better business bureau or safeguards. People can call themselves anything, make up credentials, make up testimonials, etc. and it takes a really long time for most to fold. If you can do your business locally, live, I think you can more easily make it successful and more quickly. Just my opinions.

Look forward to some lively discussions with you.

tonia boterf

[Jamey]

Hi,

When one enlist the services of a small business coach they have a list of items they will view as necessary in completing for your company. The primary objective on that list is to establish a clear direction you desire your company to travel. They will assess this by first speaking to the business owner to achieve an understanding of what the business owner intended on creating when starting their own business.