The following is a guest post from James D. Burbank. James has been navigating his way around the business world for better part of two decades. He is the editor in chief of BizzMarkBlog and a proud father of two.
For most professionals working in the business arena, there comes a moment where they start feeling a bit worn out. They feel like they have seen it all (and in many cases they really have) and that they have started just going through motions. Even the occasional spikes and major successes become expected and lose their allure. They start feeling like the elder statesmen and they start thinking about new avenues.
One such avenue is business coaching, or more precisely becoming a business coach.
Why it Makes Sense?
Everything that we have mentioned in the introduction shows why it makes sense to become a business coach in such a situation. For one, you have plenty of experience that other people might benefit from. You have all the background you will need to become a superb business coach who will have absolutely no troubles finding clients and growing their business.
Another reason why this makes sense is the financial aspect of it all. Business coaches can make quite a bit of money, especially once they expand their client list and start coaching people in top positions at more established companies. As the readers of Retirement Savvy know very well, everything that helps things going for that comfortable retirement is more than welcome.
Moreover, if you play your cards right and build your reputation, you can continue to do business coaching even after you officially retire – working with only a few high-level clients who will be glad to have someone who experienced in their corner.
It Is More than Experience
While your experience will play an invaluable role if you decide to start a coaching business, you need to remember that it takes more than just that to succeed. Business coaching is a skill like everything else, or more precisely a set of skills that amount to something very close to art. Coaching is a sensitive field and it requires a number of skills that you may not possess in sufficient amounts.
Most business coaches enroll in coaching courses that help show them the ropes of the business. If you decide to take one of these, please make sure that you are going with the reputable organizations and not with self-proclaimed gurus and other shady characters who are only looking to rip you off.
In addition to this, it is always a good idea to expand your search for knowledge and essential coaching skills (as well as those non-essential). There are innumerable books, guides and seminars on coaching that you might find useful, if you know where to look, of course. Once again, keep in mind that there are plenty of snake oil salesmen out there who know very little about coaching but who market themselves as the leaders in the field.
The Business Aspect
A very important thing to keep in mind when considering a career of a business coach is that it will involve actually starting a business, registering it and getting it on its feet, just as you would do with any other business. The good thing is that you will more likely than not already have plenty experience with this and should not experience the same problems some other coaches might.
One idiosyncrasy you have to keep in mind is that it can be quite difficult to differentiate your coaching business from myriad others, often owned and run by people who do not half your expertise and knowledge. The most solid way to do this is to get down to work and let your results and your approach to work do the talking for you. The beginnings may be tough, but quality soon shines through.
Becoming a business coach is definitely a career avenue for professionals who think they have a lot to offer when it comes to expertise and experience. Determining if it is something you might be interested in is a completely different story. It is something you will have to decide on your own.