The pandemic has been a trying time for everyone, there’s no doubt about it. But there is at least one good thing that’s come out of these past few years: Entrepreneurs.
In the US alone, more than 4.4 million businesses were started in 2020, and half a million were created in January of 2021.
Many pandemic entrepreneurs started businesses so they could enjoy the perks of being their own boss, while others finally had the free time needed to put their long-awaited business plans into action — thanks to lockdowns, work-from-home arrangements, and other COVID-19 restrictions.
If you, like many other Americans, have been thinking of starting a business of your own, now is the perfect time to do it.
And since there are millions of first-time entrepreneurs who are learning the ins and outs of business ownership, it’s an especially good time to start a coaching business.
This guide from Making Sense of Pennies will tell you how.
Why Become a Business Coach?
As we mentioned above, there are millions of new entrepreneurs who could benefit from your coaching services as they learn how to effectively run a business for the first time.
Business coaches can help leaders and managers to build a positive company culture; boost the productivity, performance, and job satisfaction of their workers; and successfully achieve their company goals and objectives.
Coaches also help business owners to:
- Define their business goals.
- Identify the obstacles that could prevent them from achieving their goals.
- Hire the best workers and build effective teams.
What’s more, the business coaching industry has seen a 1.1 percent increase between 2021 and 2022 — according to statistics from IBISWorld. And since business coaches work for themselves, they also enjoy the many benefits of self-employment.
How to Get Started as a Business Coach
Once you’re ready to get started as a business coach, there are several important steps you’ll need to take in order to set yourself up for success. Launching a coaching business means writing a business plan and choosing a business structure, name, and location.
You’ll then need to register the business in your state, apply for an Employer Identification Number (EIN), and obtain any necessary licenses and permits.
You can also take advantage of this handy, comprehensive start a business guide to answer any questions you have about getting your new company established.
Market Your Coaching Services
After completing the steps highlighted above, you’ll need to focus on building an online presence and marketing your coaching services.
Be sure to create a great business website that highlights your background, qualifications, and credentials; coaching services and rates; and contact details or booking information so potential clients can easily get in touch with you.
It’s also important to set up social media pages on Facebook, Instagram, and LinkedIn. Any content you post or share on social media can be tracked using tools such as Hootsuite, Talkwalker, or Nexalogy.
A plethora of other online tools is available to help you run your coaching business more smoothly, including bookkeeping and accounting software, video conferencing tools like Zoom and Google Meet, and project management tools such as Slack and Asana.
You Can Succeed as a Business Coach
If you’ve been thinking of pursuing a career as a business coach, there’s no better time to get started. The pandemic inspired millions of first-time entrepreneurs to launch their own businesses, and most could benefit from the services of a business coach.
You could be just the person for the job, and the team at BusinessCoach.com is here to help you build your own business coaching career from the ground up!
Making Sense of Pennies is a blog I started to help people learn how manage their finances better, make money online through internet marketing and achieve financial freedom. Feel free to reach out to me at email@example.com