How to Start As a Business Coach or Mentor

Being a business coach is not as easy as everyone thinks. Coaching requires you to have dedication and persistence because as a business, it is difficult to get off the ground if you do not have the right foundation.

A business coach is like being a teacher or a doctor or a lawyer, you have to learn and possess the rights skills.

Woman holding a pad-notebook and talking a woman

image source: via Amy Hirschi

It seems being a life coach requires you to dig up the secrets, which will make you successful. It can prove difficult. You can push towards the highest level of success that you want for yourself.

Because you have to be a winner in order to be a life coach for someone else. You impact other people's lives.

What is a Business Coach or Mentor?

According to Forbes, “Mentors are successful people who share their hard-won wisdom to provide insight and guidance as an entrepreneur encounters challenges along her journey. They typically function in a reactive capacity, responding to issues as they arise. Mentors may not have expertise in the mentee’s field, but they understand how to navigate business in general.

Coaches, on the other hand, often have expertise in the same field as the people they’re helping. They’re usually trained and certified as coaches, possessing strong process management skills.”

Launching out as a Business Coach or Mentor

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In terms of having a business as a mentoring or life coaching, it is a tough sell. Many people make the mistake of quitting their jobs before establishing themselves as life coaches successfully.

Rule 1
of Being a Business Coach

So the first rule of starting your life coach in business is the keep your day job while you were focusing on building a proper foundation in your life coaching business. Keep your day job as a foundation.

Not having an income coming in will put added stress on you that you do not need.

Don’t quit your day job.

Rule 2
of Being a Business Coach

The second rule of having a life coaching business is to be successful in the job that you already have.

People will check your background. Prospective clients will research what you did before. They will check on whether you made a great impression or if you did not leave a solid mark in the business that you are coming from. If not, they will not take you seriously.

Operating at a high level is a must. You will face problems each and every day, your own and the ones that you have to help your clients to fix.

Rule 3
of Being a Business Coach

Be a problem solver. Problem-solving skills will help you to mentor someone else.

If you know the secrets to the kingdom, then you can take someone else on a tour of the kingdom. So make sure that you have learned how to resolve all manner of problems in your own lives so that you can use them as examples.

Rule 4
of Being a Business Coach

The next rule is to create a network. This you should start doing from the beginning of your career. Nonetheless, it is never too late to do so, if you have not yet started.

If you are in college then established relationships with the people in your classes. When your college friends and associates leave college, they will be going out to different industries. They will become bankers, lawyers, doctors, politicians or even successful actors, singers and entertainers.

Having this sort of network or having them as friends will ensure that you have a wide spectrum to choose from when you're looking for potential clients.

This network will also help you to help others, who come to you as a life coach or mentor.

Rule 5
of Being a Business Coach

The next rule of being a life coach is to learn the principles of business. Have proper financial planning and set aside a budget.

Learn how to establish a business. Research on how to register your business name. Learn where to get office space, which is ideally located.

Even though initially it is recommended that you start working out of your home or apartment. You will have no rental fees and your budget won’t hurt your pocket every month. Once you are established and have steady revenue then you can get a suitable place.

Rule 6
of Being a Business Coach

The next rule is the make business cards. These can be hard copy or soft copy business cards. Just ensure that your professional information is sent out in all your communiqués.

The best way to accomplish this is to have it in your email signature. You never know who will read and need your services.

Rule 7
of Being a Business Coach

Learn how to use social media and exploit it for your business coach objectives.

Update your social media profile to represent your new job skill. Use social media platforms like LinkedIn, Facebook, Twitter and Instagram to promote your services.

Rule 8
of Being a Business Coach

Master your niche by knowing everything there is to know. Always keep learning about the things you need to do to become a successful life coach. The business platform is always changing. So, constantly update your skills.

Attend conferences and business network events. Later on, this will help you to get your tasks done very quickly.

Rule 9
of Being a Business Coach

Learn about the necessary certifications to become a registered or licensed business coach and mentor. In addition, have a budget item to pay for these expenses.

Be open to going back to school for a while or setting aside time to study after work.

Seizing your life’s goal will take sacrifice and commitment. Be open to doing what is necessary. Ironically, these are some of the same tips, which you will be giving to your clients one day.

Rule 10
of Being a Business Coach

You need to have direction. If you don’t know where you are going and when you intend to get there, you won’t get there at all.

So, set short-term, mid-term and long-term goals. Write them down so that you will have them constantly working on different areas, as you see fit.

Rule 11
of Being a Business Coach

Also as a business coach, you need to define what you want to do clearly.

The ideas of what you want for yourself and your clients, how you intend to run your business and how to maintain success, will be the fuel in your engine. Mentoring and coaching can seem overwhelming. But, if you have the right ideas and these ideas are supported by research then you are on the right track.

You have to write a list about the things to do. Constantly check things off of your lists. It will keep you motivated.

Rule 12
of Being a Business Coach

Have a support system, if you can. This can be family or friends. It can also be a mentor, within the same niche, which you are trying to carve out for yourself.

You need someone to be your cheerleader. You need a voice that will not only reassure you but also remind you of your dreams. There will be times that you might lose focus and having them there will be helpful.

Rule 13
of Being a Business Coach

Use cost-effective services, especially when you are just starting out. For example, there are a lot of good freelance websites, which can connect you to qualified persons.

In the beginning, you might not be able to hire your own administrative assistant. But you can hire a virtual assistant on sites like Upwork and Freelancer.

This will help to keep you on track. It minimizes your expenditures. You also have the necessary professional support for your clients and business.

Check out other sites like Fiverr as well.

Getting Your Business off the Ground

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We live in a time when people are more open to starting their own business. They feel this is a way to have more freedom, autonomy and to be able to take care of themselves and do what they want in life.

Being passionate is important. As a business coach, you ought to establish your business the right way also.

When it comes to starting your own business, you have to lay a solid framework. Get your ideas on paper and be proactive about having a good business coaching company that will draw more prospective clients than the others that are around you.

Because you will be establishing your business, while doing someone else's job it is best to keep records. And make sure that you also set aside an established time where you focus on your own business.

Following these rules on how to become a successful business coach or mentor will give you clarity and perspective. They will help you to launch out confidently and hold nothing back. As time progress, you will gain more confidence.

You can overcome your fears and anxieties.

We hope that this article has answered your questions about how to start as a business coach or mentor.



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