“It seems like you know everything you need to know. Now, how does this information become the transformation you seek?”
That’s the advice Ajit Nawalkha, co-founder of Mindvalley Coach (formerly known as Evercoach by Mindvalley), got from his then-girlfriend and now-wife, Dr. Neeta Bhushan. It also sparked the beginning of his own coaching journey.
It’s a good thing, too, especially for business coaches or those looking to be one. With the boom of the industry (which is currently valued at US$11 billion), there’s a rising demand for those with the skills.
If you think you’ve got what it takes, you can learn how to become a business coach and help budding entrepreneurs or seasoned ones gain an edge.
What Does a Business Coach Actually Do?
Who hires coaches? People who want to be better at what they do, of course.
Coaches, in general, help people—whether it’s athletes, leaders, educators, people in transition, or even business owners—imagine a greater possibility for themselves and support them in achieving it.
“Coaching focuses on the future—the individual’s future,” explains Ajit. “It works with the client in being able to see this possibility; it then uses the talent of the client to create a path to get to this possibility, further helping the client to make this possibility a reality.”
And when it comes to business, it’s a labyrinth of possibilities. But one wrong turn, and the coachee may find themselves going further away from their end goals.
That’s why a business coach can be an invaluable resource.
Who do they coach?
Business coaches aren’t tied to just people who do business. They can also mentor anyone who’s associated with the following :
- Business professionals and entrepreneurs. Coaching for this type of client encourages inward reflection. They look at exploring strengths, opportunities, and any blind spots within the company so they can grow in the long term, personally and professionally.
- Small business owners. Coaches can help owners develop a vision as well as set goals and action plans to support that vision. Further down the line, business coaching can assist the owner in growing the company or prioritizing its needs.
- Managers. A 2020 report by the International Coaching Federation (ICF) found that managers faced the obstacle of limited support from their senior leaders. So with coaching, they can help drive the company toward its goals and vision as well as build a coaching culture inside the organization.
- Executives. Coaching can help an executive navigate consciously on their career path. Business coaches will work to help set professional goals as well as personal ones.
Because coaches are hired to help with self-development, insightful advice, accountability, overcoming obstacles, and so on, they are equipped with the knowledge and expertise to mentor anyone at any level.
Why Become a Business Coach?
There are countless reasons why someone dives into this coaching niche. But it mainly comes down to the life-changing impact they make on individuals. And here are three beautiful reasons for being a business coach:
- You get to help your clients be their very best self. With your support, your clients get to self-reflect, gain confidence, set goals with depth and meaning, and live out their dream life.
- There’s the opportunity to work remotely or in your client’s beautiful office. As a coach, you’re not bound to an office. So you can connect with your clients via the internet or meet them where they’re located. It makes for incredibly rich and diverse experiences.
- You’re at the forefront of helping make the work a better place. Coaches help their clients get to the core of their life’s purpose, which leads to them living happy and fulfilled lives. They, then, love more. They connect more. They inspire more. And the more people in the world who’re living at a higher vibration for the better, the more we all benefit.
What Does It Take to Become a Successful Business Coach?
According to Ajit, a successful coach embodies:
- A consultant who asks questions to encourage their coachee to go deeper. This enables them to find the path that will take them from their current reality to the possibility that lies ahead of them.
- A coach who inspires habitual change so the client can keep making progress to create a better future for themselves.
With the basic expertise of a consultant and coach, business coaches work with their coachees to support, educate, and motivate. Using various coaching techniques, they coach leaders and their teams as well as consult on strategies for businesses to grow.
As a result, a 2009 study by the ICF on individuals from small business owners to industry leaders found:
- 80% of people who receive coaching report increased self-confidence.
- Over 70% benefit from improved work performance, relationships, and more effective communication skills.
- 86% of companies report a 100% return on investment.
With high percentages of the positive impact that coaching has, many coaches find fulfillment as a result. It’s their way of adding value to improving the world or within their community.
What Qualifications Do You Need to Be a Business Coach?
The great thing about becoming a business coach, like a life coach, is that you just need to go through a course. Thankfully, you don’t need a Master’s Degree or a Ph.D. to be a certified business coach.
However, with that being said, having a Bachelor’s Degree in counseling or psychology can provide you with the skills to help your coachees.
With niche categories, like business, it’s great to have experience in this topic, but it’s not required. However, it can be learned. Some of the basics to grasp include key business concepts, operations and leadership, and organizing and managing a company’s resources, especially in the ever-changing landscape of commercialism.
It’s as Ajit says, “How do you become a better coach? Keep learning. And what happens when you keep learning? You grow.”
5 Steps to Become a Successful Business Coach
So you’re ready to be a coach. What steps do you need to take? Ajit provides these five steps for you to kick-start your coaching journey.
1. Check in with your mindset
Whether you believe you can or not, you’re right, as Henry Ford once said. So in order for you to become successful in anything, even coaching, your mindset is key.
It can dictate not only how you see yourself, but how you see the world around you. What’s more, it can create self-imposed limitations or strengths within your own beliefs.
If we get to choose our beliefs, why not choose a belief that is empowering, a belief that says that you can literally sway the fabric of time and space and bend reality to your soul’s desires.— Vishen, founder of Mindvalley and co-founder of Mindvalley Coach
So as you take a step towards your new mission to help someone, explore seven traits that many successful business coaches embody:
- Lifelong learner
2. Find your niche
While business coaching is a niche on its own, it’s got a pretty wide range within itself. And though you may be a bleeding heart person, helping everyone is helping no one. So it’s advisable to find a corner of the business coaching arena that you can focus on.
Look at what you’re passionate about. Figure out what comes naturally to you. Identify what your minimum livable income is and what your desired income is. And determine the kind of niche or business you want to engage in.
The good thing about finding a niche is that you stand out in a crowded marketplace, like how Uber stood out in the transportation industry. So here are some popular niches to explore:
- Small business coaching
- High-performance coaching for entrepreneurs
- Executive business coaching
- Business mindset coaching
- Productivity coaching for business owners
Once you find the area you’d like to focus on, it’s time to find your people.
3. Identify your ideal clients
Coaching is personal and you often have to shift your energies when interacting with different people. So who you let into your space is important.
Obviously, you can’t say ‘no’ to everyone you don’t like, but you can definitely narrow down the type of clients you’d love to work with. So start by asking yourself some questions to identify your ‘type’ and allow your intuition to guide you with your answers.
- Who inspires you?
- If you weren’t getting paid, who would you spend time with?
- Is there someone who brings out the best in you?
- What kinds of conversations are the most interesting for you?
- Who are the people you would enjoy helping?
- Is there anyone you dislike working with? (Note: knowing who you don’t want to work with can help clarify who you do want to work with.)
- Who would benefit from your niche?
- What kind of results or outcomes can you create for your ideal clients?
You’re essentially building a brand when it comes to your coaching business. So choosing your ideal clients helps with long-term relationships, your brand reputation, and to produce better results.
4. Grow an engaged, responsive audience
One way to really stand out from the crowd is to build credibility. Here are some ways you can do so and grow your audience:
- Create your own unique coaching methodology.
- Upskill yourself, especially with techniques related to your niche through a certification course or a workshop.
- Testimonials—written or video—are incredibly valuable to help promote your business and acquire new clients.
- Pay it forward through community services, like volunteering your time to coach those who may not be able to afford it.
- Share how your thoughts and ideas can positively influence the community or the world on social media platforms.
- Collaborate with a coaching organization.
Now, it can be a long process because it means gaining and maintaining trust with your clients. However, the long game with credibility is growth for your business.
5. Start your coaching business
It all starts with you taking that step to become a certified coach. Mindvalley offers a variety of coaching programs, including one for business.
One of the many great things about the programs is that they give you an enhanced coaching experience. It’s not only about the training sessions, but there’s the opportunity to gain hands-on experience as well.
The inclusive practicals will allow you the time to embrace your empowering beliefs, discover your passion, have the ability to connect with your clients, and establish a level of credibility. All this before you’re handed your much-deserved Mindvalley Certified Coach certificate.
Sure, you’ll most likely create real, meaningful, and lasting changes in your clients’ lives. But who knows, you might even do so on your own.
Step Into Your Greatness
If there’s one thing a business coach understands, it’s the value of investing in yourself.
Getting certified as a business coach is more than just helping your clients. It’s also an opportunity for you to seek self-awareness, better understand your passions and purpose, and explore new ways of challenging yourself.
And if you’re looking for a place to get certified, join Mindvalley’s Certified Business Coach Program. With Ajit guiding you, you’ll learn about the little-known methodology of business coaching so you’ll be able to create the impact you desire. Welcome in.