If you are a business coach looking to start online business coaching, this is a complete guide for you.
In this in-depth guide, we’ll cover:
- What is business coaching?
- Benefits of business coaching
- Best business coaches in the world
- How to start your own online coaching service as a business coach
- Types of business coaching
- How to choose the right coach for your business
- Lots more!
So if you’re ready to go “all in” with business coaching, this guide is definitely for you.
Let’s dive right in.
What is business coaching?
The main objective of a business coach is to guide business owners in clarifying their business goals and help them set attainable goals and realistic deadlines to achieve them.
Business coaching helps business owners with:
- Stay on track with their goals
- Help them achieve the business’s vision, goals and objectives
- Opportunities and strategies for business growth and development
- Tailored plan and coach according to business needs
One of the biggest misconceptions about business coaching is that it is only for struggling businesses. However, business coaching is helpful for startups to establish businesses equally.
Online business coaching benefits
The number one benefit of business coaching is accountability and setting realistic goals and deadlines.
Following are some more ways a business coach can help you with:
- Clarify your business goals and needs: Having a clear goal and identifying your business needs can be the essential step in your business success; therefore, your business coach can help you sort these out and work with you to make a tailored plan to achieve them.
- Help you gain perspective: It is essential to have a broad vision and greater perspective in any business. A coach can help you gain the perspective you need for your business.
- Enhance your interpersonal skills: Interpersonal skills are critical in any career, but in the present age, it is a must for a business owner to have excellent interpersonal skills. You represent your business at all levels.
- Take your business to the next level: A business coach aims to help you take your business to new levels by exploring and developing opportunities for you and your business.
- Helps maintain a work-life balance: The biggest struggle of most business owners nowadays is work-life balance. In fact, with business taking so much of their time, there is hardly any time left for their personal lives and mental health.
- Revive a struggling business: Business coaches are most commonly hired for reviving a struggling business and stabilising them.
- Make a successful business an even bigger success: When it comes to business, the sky’s the limit. A successful business does not mean an end. For instance, a business coach can help you do your successful business into an even more significant success.
- Building a new business: Starting a new business from scratch is always challenging. You make mistakes and learn throughout the journey. A business coach has already been down that road and can help you avoid those pitfalls.
- Boost confidence and improve leadership skills: Confidence and leadership are the two most essential skills for a business owner. Businesses are built on teams, and teams are built on excellent leadership skills.
- Accountability to achieve your goals: The most crucial purpose of a business coach is to provide accountability. Once you’ve set up your goals and objectives, he or she will make sure you stay on track to achieve the desired results.
- Grow a small/local business: Startups and small-scale businesses have a very high failure rate due to cutthroat competition in almost every niche. To conclude, a business coach can also help your small-scale business thrive and convert it into a high-end business with time.
Top 10 online business coaches to follow in 2023
1. Nick Loper
Nick Loper is the founder of Side Hustle Nation. Furthermore, he is a top business coach and author of 7 books on the same subject.
Marshall Goldsmith is one of the biggest names in the coaching industry; apart from being a business coach, he has expertise in leadership and executive coaching as well.
Melinda F. Emerson, “SmallBizLady”, is America’s top small business expert and coach. She is an internationally renowned keynote speaker on small business development, social selling, and online marketing strategy.
Matthew Kimberley is the CEO of Book Yourself Solid® Worldwide, a business coach, and an email expert. Besides that, he also trains other business coaches.
5. Jay Abraham
Jay Abraham is the founder and CEO of The Abraham Group, Inc., and is recognized as one of the world’s most successful/impactful marketing strategists, business innovators, and entrepreneurial mentors.
6. Tony Robbins
Tony Robbins is an entrepreneur, bestselling author, and the nation’s #1 life & business strategist. In addition, he has empowered more than 50 million people from over 95 countries.
7. Allison Dunn
Allison is a CEO, executive, leadership, and business coach. In simple words, she helps businesses grow. She is on a mission to create abundance through business transformation.
8. John Maxwell
John C. Maxwell is the founder of The John Maxwell Company, The John Maxwell Team, EQUIP, and the John Maxwell Leadership Foundation; he has trained more than 6 million leaders in the business industry.
9. Barry Moltz
Barry Moltz is a small business expert, speaker, trainer, and author. He helps businesses in sales, marketing, finance, and people management.
Cortney McDermott is an award-winning author, TEDx speaker, and business & life strategist who helps the world’s leading organizations and creatives to disrupt old patterns of behaviour and grow sustainable businesses.
How to start an online business coaching service
We have already discussed the importance, benefits, and popularity of business coaching. On the other hand, internet marketing has increased rapidly in the past few years; business coaching does not require to be physical anymore.
Just like every other business, it has moved online as well. Here are some of the reasons for taking your business online:
- Low start-up cost
- The flexibility of time and place
- Global presence
- Easy to promote and market your business
- The perfect option for those who love to travel
- Work from the comfort of your home
If you’re looking to start your own business coaching service, here’s a detailed post on how you can start your online business coaching in simple steps, how to start an online coaching business.
Types of business coaching
Business, in general, is an extensive term. It includes entrepreneurs, multinational companies and much more. Similarly, different business coaches have different expertise and based on this expertise, we can categorize them as follows:
1. Entrepreneur Coaching:
Many top coaches only focus on helping and guiding entrepreneurs and helping them scale up their businesses. This type of coaching can help you in the following ways:
- Accountability to help you stay on track
- Money and investment management
- Polishing skills to become a successful business owner
In addition, most entrepreneur coaches are entrepreneurs themselves; they have done the struggle and know all the secrets and can also help you.
2. Small business coaching:
Small business coaches excel at understanding the struggles and helping small business owners. These business owners can tend to be overwhelmed by day-to-day issues and lose focus. A business coach can help you:
- Regulate day-to-day business issues
- Consultancy to help you make the right decisions at the right time
- Improve work-life balance
3. Executive coaching:
Although executive coaching is a separate field in the coaching industry, it is very closely related to business coaching. Executive coaches work directly with the executives, directors and managers to help skyrocket the business.
- Polish leadership skills necessary for business growth
- Clear and target-oriented growth plan
- Enhance decision-making power
- Provide consultancy keeping the business’s purpose and growth in mind
4. Business Strategists:
Business strategists are also business coaches and consultants, but rather than working on interpersonal skills or working with managers; they work directly on the business strategy.
- Identifying the business’s needs
- Strategic plans to improve profitability
- Provide accountability to actualize those goals
- Developing, rethinking, and executing a business strategy for your business
5. Sales Coach
A sales coach also falls in the category of a business coach since they are directly related to the business’s success and profit. A sales coach will not make the sales for your business but will help with the following:
- Provide sales training and mentoring
- Empower salespeople to achieve their sales goal
- Enhance interpersonal skills and teach the skills needed for marketing your business
How to choose the right business coach for your business?
This is a relatively simple question when you know the answer to the following:
- Your business type
- Your business needs
- The budget you have for this
- Types of business coaching
- Pros and cons of each business coaching type
- Top business coaches in the industry
Having a clear answer to all of the above will undeniably help you choose the right business coach for your business.
I hope this post gave you an in-depth knowledge of business coaching, benefits, and business coaching. Most importantly, how you can start your own business coaching service online.
Choosing the right business coach is as equally important as choosing the right business niche.
And now finally I’d like to hear from you:
Who’s your favorite business coach from the above top ten list?
Feel free to leave a comment below.