What Makes A Great Business Coach
Business coaching is a growing field that provides a lot of opportunities for seasoned professionals to share their knowledge in a variety of ways. While many prospective coaches have the content knowledge and the skills required to lead others, it's difficult to enter the field of business coaching. In today's article, we will look at what makes a successful business coach in a few different key areas.
What is a business coach?
A business coach is a partner who provides guidance, assistance and accountability to their clients. Business coaches provide support using a process-based approach that helps business owners to set, meet and exceed their goals.
Related: What Does a Business Coach Do?
What does a business coach do?
A business coach is someone who provides guidance and support to resolve challenges for their clients. What a business coach does daily will vary depending on the client and their needs. One of the biggest reasons that a business owner looks for a business coach is to motivate them to make goals, meet goals, exceed goals and then set new goals. Here are some common duties for business coaches:
Providing vision and guidance
One of the key tasks that a business coach will undertake involves advising. At the beginning of a business coaching relationship, it's important to understand how the coach and client intersect. Clients and coaches must hold mutual trust and respect. Understanding the core vision of the business owner helps the business coach provide sound guidance for growth and improvement.
Assisting with goal setting and planning
Once a vision has been established, a business coach will work closely with the business owner to craft a development plan. Within the planning documents will be goals and a timeline for their achievement. While the overall success or failure of the business will fall on the shoulders of the owner and their team, a great business coach should meet regularly with key stakeholders to ensure progress toward completion.
Holding clients accountable
Once the goals have been set and a timeline for successful completion has been approved, the real work begins. Unlike a consultant or a direct partner in a business, the coach does not take a hands-on role in the day-to-day functions of the organization. Their role in the organization is to provide a supportive perspective. A business coach will provide an honest assessment of the company's situation from the perspective of an outsider. Approaching the role in this way, a great business coach can show opportunities and blind spots that the business owner may not see otherwise.
Sharing in successes and opportunities
As an outsider, the business coach has a keen interest in monitoring key performance indicators (KPIs). While most successful businesses keep a close eye on KPIs when assessing performance, the chances are that business owners don't take a close look at all metrics on a daily or weekly basis. In many situations, KPIs may only receive attention when it's too late. When the business owners and other stakeholders understand that someone else is looking closely at the numbers, there is a new level of accountability built into the coaching plan.
Facilitating calibration and refocus sessions
As time progresses, the expectation is that the partnership between a business owner and business coach will lead to success. Whether the process is going smoothly or needs some adjustment, both sides of the agreement must be willing to take stock and make adjustments midstream. In business coaching, calibration meetings provide opportunities for transparency. The good, the bad and the ugly all can be seen in a constructive environment.
During calibrations, leaders from across the organization are invited to access elements. Calibrations provide excellent opportunities to refocus policies and procedures that can lead to successfully meeting or exceeding objectives.
Where does a business coach work?
One of the great things about becoming a business coach is the flexibility of how and when the work gets done. Depending on the chosen industry and the preferred market area involved, a coach may prefer to work remotely or in an established office. This decision may add flexibility depending on how the coach works.
Much like with business owners and leaders, understanding how to be productive is incredibly important. Best practices dictate that having a system that works for the coach is important to securing and maintaining clients consistently. Many business coaches also contact new and existing clients remotely through virtual platforms.
Business coach salary data
According to Indeed Salaries, the national average salary for a business coach is recorded here from Indeed Salaries at $62,573 per year, although salary figures are frequently updated. Additionally, the exact salary of a business coach may be dependent on factors like level of experience and geographic location.
How to become a business coach
The path to becoming a business coach is not identical for each person. However, the following steps make the process easier.
1. Earn a degree in business or business management
Attend college to earn a bachelor's degree in business, business management or a related field. This will be an important way of finding a job that will start your next steps. Many firms prefer a master's degree in business or business administration. One positive of this requirement is that some organizations will provide financial support to assist you in earning an advanced degree.
2. Begin working and develop exemplary techniques
Beginning with your first business-related job, you will begin developing techniques that show your sales prowess. Additionally, learning new processes and concepts can expand your expertise. With each new business opportunity, a future business coach's reputation can grow. Several years of job experience and noteworthy accolades help set you up for future success.
3. Research and enroll in a business coaching certification program
While becoming certified is not always a necessity, enrolling in a business coaching training program can further enhance your understanding of what comes next. It's important to understand that enrolling in a training program will reinforce innate leadership skills that live inside.
4. Always be networking and looking for opportunities to share your knowledge
No matter what stage of business coaching you are in, always remain open to networking opportunities. There is no age limit on growth and development. Remaining focused on the next steps allows the business-minded individual to remain competitive for life. Sharing your knowledge with future business people is rewarding.