Business coaching is an educational process that significantly enhances the economic achievement of individuals. It concentrates on helping people – especially entrepreneurs – substantially grow their businesses.
According to Heather Hansen O’Neill, President of Find Your Fire and author of bestselling books Teams on Fire! and Find Your Fire, “Today, driven entrepreneurs possess more potential to excel. Meanwhile, many of them are not coming close to realizing their full potential. Business coaching can help entrepreneurs break through barriers that are holding them back and focus on the actions necessary to achieve their goals. In addition, many business owners now have tremendous interest in investing in coaching for their leadership teams to improve the performance of everyone at their companies resulting in greater synergistic success.”
It is clear that a great percentage of entrepreneurs are looking for ways to ratchet up the performance of their businesses. “Based on our survey of 759 entrepreneurs, almost one out of six of them are turning to business coaches to become more professionally capable,” says John Bowen, co-founder of BSW Inner Circle and co-author of Reaching for the Stars: How to Fast-Track Your Business Success by Leveraging Mastermind and CEO Groups. “For some entrepreneurs and accomplished individuals, business coaching is just what they need to generate greater achievements.”
Without question, the demand for business coaching is extensive and growing very quickly. The opportunities for high-caliber business coaches of all stripes are probably better than ever. This leads to business coaches being able to charge respectfully more for their expertise.
Because of the increasing demand for business coaches, more professionals are becoming them. For those capable of coaching, the key issue therefore becomes cultivating a substantial high-quality clientele.
“We’ve found that accomplished entrepreneurs turn to business coaches for a number of specific reasons and decisions. Topping the list is when the selected coach can show how his or her assistance translates into greater company and personal financial success,” says Bowen. “By explicitly and precisely explaining the processes and methodologies a business coach uses and how these approaches produce results, the coach’s practice grows quickly. It’s all a matter of connecting the dots for the entrepreneurs.”
A number of proven business development strategies can enable business coaches to create pipelines of new, motivated clients willing to pay a premium for their services. By utilizing some of these approaches, business coaches are able to build significant and highly profitable business themselves.