15 Benefits of Business Coaching to Increase Your Bottom Line

Team coach

 

Business coaching, for start-up companies that are experiencing sluggish growth, helps these companies increase the bottom line, reduce attrition and create happier employees. As a, Business Coach, based in South Florida, my company MyHelps Inc launches new programs to help entrepreneurs achieve these goals.

Coaching, while this word comes from sports where the coach assists individuals as well as teams to increase performance and achieve new goals, is a process in which the coach asks the individual well-formulated questions and helps in finding answers.

The strongest aspect of, coaching, is that the individual is finding answers to his or her own questions. Simultaneously it is perceived as a managerial approach and style of management where the manager himself becomes the coach of employees.

Business Leaders have identified fifteen significant benefits of, Business coaching, as a growth and development tool.

Benefits of Business Coaching

1. Continuous one-on-one attention that facilitates growth
2. Expanded thinking through dialogue and powerful questioning from a coach.
3. Self-awareness – including bringing light to blind spots.
4. Personal accountability for development – A coach can hold you accountable for work you promised to do.
5. Just-in-time learning; e.g. preparing for a speech or meeting
6. Sustained interpersonal skills development.
7. Consistent, long-term development that gets embedded and becomes part of your routine.
8. Identify executive strengths and development needs
9. Leverage existing strengths and improve performance
10. Create a Leadership Strategy with an Action Plan and accountability to help Business owners stay on track
11. Adopt and/or reinforce the required leadership skills and competencies crucial to the company’s growth.
12. Positive and sustainable behavior changes
13. Develop leadership skills and practices; learn coaching skills they can implement.
14. Enhanced career planning and development with an action-oriented plan
15. Create and plan for greater work/life balance.

Starting your Coaching Business

The secret to a profitable, coaching business, is selecting the right clients. Don’t get into the “fixing” business or turning losers into winners; it’s exhausting. You know the people I’m talking about — they say they want something; but don’t take action to get there or aren’t willing to pay for it. Instead, focus on, coaching,  ambitious people who are already successful get to the next level. Your life will be easier and they will get great results because success is in their DNA.

To do this, you must be outstanding at what you do. Your services or insights must really work. So ask yourself: Am I the best in the world at what I do? To make a lot of money, you have to deliver a lot of value. 

Steps to Starting Your Business Coaching Business

Step One – Establish your Niche

Niching down help you attract the right kind of clients.  The more specific your , niche, the bigger your chances are for success.  I once heard of a, niche, for, business coaching, for people who used to suck their thumbs!

Step Two – Claim Your Business name.

Your business name is very important. Don’t pick a name that people can’t spell. We are no longer vying for directory listings so we don’t need a name that at the top of the list like AAA, coaching business. Consider using your own name or a play on your name for a business name.

Step Three – Identify your business structure

  • Sole Proprietorship
  • Limited Liability LLC
  • Corporation
  • Partnership
  • S Corporation

Step Four – choose your preferred method of, business coaching

Business coaches, love to work with their clients face to face, but if you offer Skype or phone coaching you  could expand your market beyond local.  You could become an international, business coach.  Become comfortable with, coaching, via phone or zoom.

Step Five – Build your dream team for support

  • Have a coach or mentor for questions and business support
  • Have a tax accountant to help you plan your tax strategy
  • Have a lawyer to help you with contract issues

Bio Myrna Young Business Coach

Myrna Morris Young (@myrna_morris) is the president and owner of MyHelps Inc, a Florida based Coaching and Consulting firm that specializes in delivering leadership development programs for start-up companies and dynamic organizations.
Ms Young is a Certified Professional Coach from the University of Miami, Credentialed as an Associate Certified Coach by the International Coaching Federation,

Awarded Entrepreneur of the Year in 1998 and nominated for Business Woman of the Year in 2015. Her areas of expertise are Leadership development, social media marketing and personal growth. Myrna can be reached for your coaching requirements or as a motivational speaker for your next event at 888-569-3182 or on the web at “https://www.myhelps.us”

Additional Resources

“About Myrna Young Life Coach”

How to Set up Your Business Structure as an Entrepreneur

 

How to Become a Life Coach

Life Coach Myrna Young
How to Become a Life Coach
How to Become a Life Coach

Do you feel that you are called to make a difference in the lives of others?
Do any of these statements sound like you?
• I want to help others and make a difference in the world.
• I want to have a life purpose beyond what I am currently doing.
• I want to be happier, satisfied and fulfilled with my life.
• I want to get unstuck and feel more in control of my life.
• My friends all tell me that I should be a coach!

Becoming a, Life coach, is both a rewarding career and a financially viable career.
Life coach,  like Tony Robbins make millions of dollars per year.
Top, Executive coaches,  can charge up to $3000 for a 45-min session  for, leadership, coaching for  top CEO’s of major corporations.
As a starting, Life coach, here is the statistics of what you can make in the first year of business.
Average, coaching, salaries according to Sherpa: Leadership, Coaches make $325 per hour. Business Coaching,  can make you $235 per hour. Life Coaches, make $160 per hour.

What is a Life Coach

A, Life coach, is the umbrella that all other, coaching, fall under.
A top CEO for example is coached on how to be good leader and motivate his managers to excellence but if his personal life is a mess he cannot be effective.

Who you are shows up in all your interactions

As you coach others, you are also, coaching, yourself.

Here are the steps to becoming a certified Life Coach:

1: Figure out your, niche – what are you going to specialize in
For example, would you want to coach on happiness? That would be your, niche.
This is a good, niche, because The goal of every living person is to find happiness.

As a Happiness, Life coach, you could coach your clients on the following:

  • Defining Happiness – What is Happiness, how is it measured
    Benefits and Challenges in finding happiness
    Finding happiness through networking and getting to know people. Most of us need others to make us happy.
    Worksheets and Workbooks for Your Clients, e.g. to remove old conditioning and beliefs.
    You could do an Intro on how You found Your Happiness
    Peeling Off the Layers – What is making your clients unhappy

 

  • Layer 1: Desire (influences/programming/expectations)
    Layer 2: Limiting Beliefs (unconscious/agreements)
    Layer 3: Ego and Identity (attachments/roles)
    Layer 4: Time (past and future vs. the now)
    Layer 5: Patterns and Conditioning (rewiring for joy)
    Layer 6: Your Current Mood (emotions)
    Certification Completion – You are now ready to go do it!

Life coach training teaches the foundation of the coaching business as well as the principles

9 Key Considerations for Choosing the Right, life Coach Training, Program for You

1. What is the training school’s underlying philosophy?
The traditional method of, coaching, often brings about only incremental and short-lived results. Of course, when you help change a person’s actions, they do get results—but not sustainable results. That’s because the underlying thoughts and emotions that truly drive actions are not addressed. Without changing core thoughts and emotions, individuals eventually revert back to their old habits, routines, and actions.
Find a, life coach training, program that teaches you how to help your clients change the way they think and feel. A program that teaches you how to help clients break through limiting thoughts and emotional responses, and replace them with supportive, empowering beliefs. As a result, clients are moved to take powerful and consistent action.

2. How does the school deliver training?
A very important aspect in choosing the right, life  coach training, school is determining which program employs the most effective training and learning techniques for you. There are many ways to deliver coach training: • Live classroom training • Teleclasses • Self-study • Online training • Group work • One-on-one mentor training • Independent projects and more
At the University of Miami Professional Certified training program, they used teleclasses along with weekend in house training. This worked for me.

3. Does the school offer specialized training?
When you specialize, your exact target audience is more receptive to hearing your message clearly. In fact, the most successful coaches will tell you that specialization has been the key to their success. That’s why it’s critical that the training school you choose offers specialty tracks to help you hone your niche and become proficient in the area of coaching in which you are most interested.
Here are some, niche coaching,  specialties:
Life Purpose Coaching •

  • Health and Wellness Coaching •
  • Corporate Coaching •
  • Professional Coaching •
  • Executive Coaching •
  • Relationship Coaching •
  • Transition Coaching •
  • Small Business Coaching .
  • Happiness coaching

4. Does the school provide business development training to help you build your practice?
When comparing, coaching schools, it’s crucial to determine how each school addresses the following question: How will I attract clients and earn income as a coach?
The University of Miami coaching program did not address marketing. It is very important in starting to make money as a coach.
Find a program that includes in their curriculum classes to help you build your coaching practice through business development, branding/messaging, and marketing.

5. Is the school an accredited institution? What is its reputation and track record?
The International Coach Federation (ICF), the industry’s governing body that sets the standards, core competencies, and ethics for coaches and training schools alike. Many unaccredited schools have actually been rejected by the ICF accreditation board and some, multiple times. Make sure that the coach training school you’re considering is ICF-accredited, and do not accept any excuses as to why they are not.
If you are going to spend money to get a coaching certification it makes sense to get your certification from an accredited school so you can be accredited as a coach by the International coaching federation. If not, you can just call yourself a coach and get on with it. Lots do. Tony Robbins is making millions as a coach and he does not have certification, just lots of experience!

6. Who are the school’s instructors and what is their background?
One of the things I loved about the University of Miami certificate coaching program is that all the instructors were master certified coaches some have more than 30 years’ experience. Check to see the instructors listed and make sure they have at least a Certified Professional Coaching accreditation. That is what I have.

7. How long will it take to complete the program?
Accredited coach training programs vary in their requirements. Programs range from only 60 hours to more than 300—and from a few weeks long to several years. Most programs that offer ICF certification take a minimum of 6 months to complete, and the vast majority of accredited programs take 12 – 24 months. The University of Miami CPC coaching program was 11 months.
Be sure not to fork over your money for a weekend certificate program. I have seen them out there.

8. Where is the coach training 8 school located?
Most schools offer training online; but since coaching is a practical field, they usually have weekend in class sessions. About 3 of them for a 12-month program. So don’t sign up for a class in the United Kingdom because you will not pass or get your certificate if you cannot attend the in class training.

9. How much does the program cost and what’s included in the price?
Coach training programs vary significantly in price, with unaccredited programs starting as low as $2,000 – $3,000 and accredited programs ranging anywhere from $5,000 – $14,000 or more.
University of Miami CPC training program cost $6,000 plus mentor coaching and the purchase of an ethics book.

Here are some, life coach training,  certificate programs:

www.ipeccoaching.com/life
www.coachtrainingalliance.com

www.lifepurposeinstitute.com/certification

3: Set up your website and market your services

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For $7.00 per month you get.
Unlimited websitesºº
Unmetered storage
Unmetered bandwidth
Free Microsoft Office 365 Business Email – 1st year
Free domain* with annual plan
Site backup & restore (paid option)
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Premium DNS
1-year SSL certificate†† to secure customer data and increase search rankings. (Restrictions Apply)

4: Learn Continuously
If you are going to be good at what you do, you have to be continually learning and improving
Not only learning how to improve your coaching skills but marketing, SEO, website, social media.
Lots to learn to grow your business.

You should also get a Mentor Coach to help get you to your goals faster if you have the funds.
I offer 30 min free strategy sessions if you are interested in setting up one and one mentor coaching with me.
Contact me on the web @ www.myrnayounghelps.com or send me an email @info@myhelps.us
Good luck in your new venture.

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iTunes: https://itunes.apple.com/us/podcast/transform-your-mind-coach/id1144973094?mt=2

Additional Resources

15 Benefits of Hiring an Executive Coach

Ask Coach Myrna: How to Start Over?