Before you invest in training to be a coach, ask yourself the following questions:
Am I passionate about helping clients pursue their own solutions?
Many people research how to become a Life Coach or Business Coach because they’ve been told that they “give great advice.” However, coaches aren’t in the business of giving advice.
Coaching is driven by the client. As a coach, you will be responsible for:
Discovering, clarifying and aligning with what the client wants to achieve.
Encouraging client self-discovery.
Eliciting client-generated solutions and strategies.
Holding the client responsible and accountable.
Do I have the skills and knowledge to start a coaching business?
Learning how to coach is the first step in building your career in coaching. Unless you are an internal coach (a professional coach practitioner who is employed within an organization and has specific coaching responsibilities identified in your job description). You will need to identify your coaching niche, develop your personal brand, market your services and build your client base. This material isn’t covered during coach training, so it will be up to you to get the training and skills you need for developing a coaching business.
ICF provides opportunities such as the Business Development Series to assist coaches with marketing and growing their businesses.
What else do I have to offer?
Although some coaches build successful businesses based entirely on their coaching services, for a majority coaching is only one source of overall revenue.
According to the 2012 ICF Global Coaching Study, coaches spend an average of just 13 hours a week delivering coaching and report average annual revenues of $47,900 USD from coaching.
Other common revenue streams cited by coaches include consulting, training, facilitation, mentoring, teaching, counseling, speaking engagements, workshops/webinars and publications.
Another option, especially for new coaches, is to keep your “day job” while coaching part-time as your schedule allows.
The International Coach Federation is the world’s largest organization of professionally trained coaches.
To become an ICF Member, you must complete at least 60 hours of coach-specific training that meets ICF standards. The best way to accomplish this is by enrolling in ICF-approved or -accredited coach training.
As an ICF Member, you will enjoy instant credibility by identifying yourself as part of the world’s largest community of professionally trained coaches. You’ll also have access to local and global networking opportunities, cutting-edge business development and marketing education, and a variety of research and resources to help you become the best coach you can be.