Part 2–Becoming a Coach: Consider what it means to own a business

Post Date: June 25th, 2010

Part 2 – Are You Thinking of Becoming a Coach: Consider what it means to own a business

 

Looking at your current skills and background are also important (in addition to getting trained in coaching skills).  If you’ve always been in a job working for someone else, I highly recommend reading Michael Gerber’s book ‘E-Myth Revisited’.  In that book he talks about three areas of owning a business (the ‘technician’, ‘manager’ and ‘entrepreneur’ roles), and has the reader think about different aspects of owning a business that they may not have otherwise considered.  He also highlights the value of systematizing for consistency and for creating value for to ultimately being able to sell your business down the road. 

 

While there are some ‘in house’ coaches (meaning they work for a specific organization), most  coaches own their own businesses or partner with a few other coaches to form a company.  As a sole proprietor (meaning you own your own business), you will need to do a few things, including:

 

·         Determine if you need to have a business license (usually at the city level)

·         Perhaps file a fictitious business name (also known as a ‘dba’ meaning ‘doing business as’)

·         Set up your financial and record keeping systems

·         Learn how to market your business (generate prospects)

·         Close the business (have clients hire you for your services)

·         Purchase liability/E&O (errors & omissions) insurance

·         Create a Coach Agreement and business documents

·         Have a legal advisor review your business documents

·         Of course have a business phone line, computer, internet connection, etc.

 

And many other things. It can be helpful to conduct information interviews with successful coaches to learn ‘what a day in the life of’ is really like. 

 

Finally, hire a coach and experience the power of what it’s like to be coached!  How can you utlimately sell something you haven’t actually experienced?!

 

If you’re serious about coaching, email today to schedule a consultation at gaf@personaljourneycoaching.com.

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Thinking of becoming a life coach?

Post Date: June 18th, 2010

People often request to have an information interview me when they are considering becoming a life coach, since I’ve been in the business officially since 2002. They are wondering which training program I’d recommend, what it’s like to build a coaching business and for a glimpse of ‘a day in the life of’ a coach.

 

While these are great questions, I answer them by asking them some in return.  For example:

 

Regarding coach training programs, as Stephen Covey says, ‘begin with the end in mind.  Consider reflecting on:

·         Who would you like to coach?  (who would be your target market)

·         What would they want to be coached/help around?  (What would your target market ‘buy’?)

·         What skills do you need to develop, in addition to coaching skills?  Perhaps sales and marketing? 

·         Where do you live?  Would you want to attend training in person, or virtually (over phone / internet)?

·         Do you ultimately want to become certified?  If so, by the school or an organization such as IAC or ICF? 

·         What else do you want?  Such as an ongoing community with the school?  Ongoing training? 

 

How you answer these questions can play a large part in which training program would be best for you.  For example if you want to coach executives, a corporate training program would most likely be best for you.  If you are currently a therapist and want to add a coaching branch, another school would be better suited that is designed exactly for therapist-turn-coach students. 

 

Some schools (using ‘schools’ interchangeably with ‘coach training programs’) offer their programs in chunks, meaning you can take one class, then take a month off, then take another class, etc.  Others are set for a fixed 12 month period.  Some schools include the certification process as part of their program.  Others have it separate and may charge additional fees.  Some include mentor coaching, others expect you to hire your own. 

 

Most coach training programs offer a complimentary tele-class that would give you a taste of their program, philosophy and culture.  I strongly encourage you to take them up on their offer, to help determine which would be the best fit for your long term goals.

 

For a list of International Coach Federation’s (ICF) accredited coach training programs, and learn more about their credentialing process, visit http://coachfederation.org and click on ‘research and education’. 

 

International Association of Coaches (IAC) http://certifiedcoach.org is another credentialing organization. I don’t believe they offer or accredit any training programs, but do offer credentialing.

 

If you have any questions, feel free to reach out by emailing me at gaf@personaljourneycoaching.com.

 

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Great book for your mindset

Post Date: June 3rd, 2010

I've been listening to a great audio book this past week by the Heath brothers called 'Switch' that illustrates nicely keeping your mind solution-oriented. 

Do you work in a high-tech company and sometimes feel that it's hard to connect with one of your colleagues?  One of the ideas in the book is to look for what's working, or as they call it 'the bright spots'.  Are there other people in your company who seem to get along well with this colleague? 

If so, observe how they engage with one another.  What is the focus of their conversations?  Strategic thinking?  Tactics of next steps to move forward?  What is their body language?  What specific words do they both use?  What is the tone, pitch, pace, level of enthusiasm? 

Once you've identified some specific behaviors, determine which ones you might naturally incorporate into your method engaging next time you have a reason to connect. 

Or are you struggling with a project, and know of someone else who seems to breeze through similar work?  See you can observe their approach and figure out what the 'bright spots' are that they are using, that you can similarly implement.

Looking forward to hearing about your success!

Gwyneth Anne Freedman, PCC

 

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