Coaching as a Business

What are the benefits of being a coach ?

The benefits of becoming a coach are numerous. However the most common benefit that coaches report, is the enormous sense of fulfilment gained through helping people improve their lives.

Coaches are also able to have complete control over their working hours, making a flexible lifestyle very easy to achieve. Adding to this is the ability to coach anywhere in the world - or from the comfort of home!

Other benefits include personal development, utilising the skills of powerful communication, meeting a wide variety of people and understanding what motivates them.

How can I find clients?

The busiest coaches are those that are consistently networking and keeping active within the coaching community. The most powerful way of attracting new clients is to meet people and communicate what you do for a living in a way that inspires action.

The international coaching community fostered by Results Coaching Systems also proves an invaluable resource for Results Coaches. Being able to draw on the resources that a local and global community of coaches offers makes keeping in touch with the most effective way of building a coaching practice easy.

Results Coaches are also able to take advantage of the organisation's agency to optimise exposure and attract new clients. Once attaining Level One status through the certification process, coaches are welcome to join the agency in order to appear on the Results web site, have their own web page, use a Results email address and print branded business cards.

Depending on your certification level, you will pay Results a percentage of any client fees you receive through the agency. This starts at 20% as a Level One coach and is 7.5% as a Level Five coach.

How much money can I expect to earn as a coach?

You can earn a good living as a Coach. Most coaches can expect to bill clients $250 or £120 per month when starting out. After practicing for more than a year Coaches working with personal clients can earn average fees of $500 or £200 per month per client.

Working full time the majority of coaches coach between 15-25 clients, which would make you between $75k and $125k or £30k and £50 per annum, depending on your average fee per client. It is not uncommon for companies or clients with high disposable incomes to pay upwards of $1,000 or £400 per month.

In addition to working one-to-one with clients, coaches often earn income from other sources. Many coaches offer group coaching services, train and facilitate groups, make speeches and publish articles and books.

How much does it cost to run a coaching business?

The start-up costs to run a coaching business are very low. All you need is a good telephone, a computer, phone headset and a quiet area to work. How long does it take to build a coaching business? It takes the majority of coaches one to two years to create a full-time coaching business, though some achieve this much faster. Of course there are many variables that will affect the amount of time it will take you to be successful. Your commitment, coaching expertise, ability to market and sell yourself and of course the number of contacts you have will all contribute to your success.

How long can I expect my client to work with me for?

It is our belief that coaching should be focused on producing specific results for the client. As such, our certified coaches work with each client for a period of 3 months, working towards 3 specific goals. This reduces the danger of a dependency being created between the coach and client. Once they have completed a coaching series with a coach, some clients decide to work again with their coach, and some change coaches. We do however recommend to clients that they take a break between each coaching series.

When should I start working with clients?

As there are no legal requirements, you can start a coaching business as soon as you like. The sooner you start coaching, the more skilled you will become. The more powerful as a coach you are, the more results you will start to see your clients achieve in their personal and professional lives.

Should I hire my own coach?

It is a good idea to hire your own coach when you are practicing as a coach to help you build your business quickly. If you decide to become certified with Results, one of the criteria is to work with a certified coach. This will accelerate your learning curve and skill as a coach, as you will have the process modelled to you as a client.

Should I specialise in working with specific types of clients?

The most successful coaches in the market are ones who have become famous for working with specific types of clients.There are many specialists to choose from. Take some time to work out how you can combine your background and experience with coaching to create a niche coaching business. You will be more successful.