Business coaching is basically just what it sounds like; it involves helping and coaching entrepreneurs and business owners to grow and achieve their goals. Large corporations, small businesses and self employed entrepreneurs can all benefit from business coaching. Think of a sports coach and what that person’s job and responsibilities are; in many ways, the role of a business coach is very much the same, but in a different setting.
A career as a business coach can be fascinating as well as rewarding; it’s a chance to help and mentor others and enable them to reach their goals. In the US, the average salary for a business coach is around $60,000 although earning a lot more than that is possible, depending on your experience and qualifications, and the amount of work you’re expected to do. Salaries can also vary between different areas of the country, and it’s possible to be self employed as a coach and the number of self employed coaches is on the rise. For many self employed coaches, one of the biggest challenges is building up a client base, and networking is a big part of it, along with taking advantage of any opportunity that presents itself.
If the idea of business coaching appeals to you, you’ll typically need to have a degree in a relevant subject, such as human resources or business. One especially useful area of study is organizational psychology, which focuses on work settings and human behavior in those settings. Of course, this is very much a career in which you’re interacting with people and you need to be comfortable talking to the CEO of a company, or hosting a meeting of management. Being well organized is a must for anyone who wants to be a business coach, and having a head for figures and some computing and accountancy skills is also important. If you’re working for yourself, you’ll have to be able to keep detailed records, be able to balance your income and outgoings and of course deal with taxes for the self employed.
There’s no specific licensing needed for anyone who is interested in business coaching, although many professional certifications offer voluntary certification. Completing continuing education hours can be a requirement of some organizations that offer certification in this field; you may also be expected to pass a written test, submit a recording of a coaching session and get reference letters. And as there is no real substitute for experience, some organizations offer aspiring coaches the opportunity to train, and the time spent training may include preparing and delivering motivational speeches, coaching management and workers and preparing reports and recommendations. Business coaching is definitely one of those careers in which the more experience, practice and exposure you have, the more skilled you become and the better your chances of getting a job.
Business coaching is an ideal career path for someone who thrives in the corporate world, enjoys working with others and has a desire to help or guide others in reaching their goals.
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