How to Start an Online Coaching Business

In today’s world, when working from home is so prominent, one might consider what possibilities are out there for starting an online business. Online coaching is one of those options. In order to begin that process, a few determinations need to be met.

To start, it is important to understand the difference among coaching, counseling, consulting, and mentoring. Many times, they are all confused with one another. They are similar but each have a specific trait that sets them apart. Counseling involves established training, usually with a degree, and includes the goal of treating a person. A mentor is a trusted advisor, providing guidance based on their experience and done so as issues arise. Consultants are experts of a specific subject and provide knowledge about that subject. Coaching, on the other hand, is about partnership, specializing in the subject of coaching itself. The main differences in how each interact with others:

• Coaching – People viewed as people.
• Counseling – People viewed as a diagnosis.
• Mentoring – People viewed as followers.
• Consultant – People viewed as consumers of specific answers.

That’s not to say there is something wrong with counseling, mentoring, and consulting, because there is not. It is only to say there is a time and place for each, not to be confused with each other and not to be considered the same as coaching, both of which happens a lot.

What else can be said about coaching? Coaching provides questions. These questions can either draw out the needed direction from the client themselves or elicit the resources the coach can provide. It deals with people as they are, where they are in life. It is a thought-provoking process that inspires people to become better versions of themselves and, thus, achieve the result of coaching.

Coaching comes in many flavors and has a unique position in the world. There are nearly countless examples of the kinds of coaches out there and a few include health coach, business coach, life coach, leadership coach, financial coach, and spiritual coach. As well, there are very few industries that exist without oversight and regulation, and coaching is one of them. That is how many in the coaching business prefer to keep it (and something for you to consider, in this business). For them, this means freedom and the potential to develop their trade unhindered.

Of course, for the client, this also means there is risk associated with coaches who are not up to par. But, that certainly doesn’t seem to deter many. Life coaching, as one example, has reached a growth of $1 billion annually! Additionally, there is extraordinarily little overhead cost associated with starting an online coaching business. Have a computer? A phone? Done.

So, what are some steps to take if you want to dive into the world of online coaching? Here they are:

• Consider joining the International Coaching Federation (ICF). Here, you can network with like-minded individuals and learn more about coaching and starting the business of coaching, even perhaps get a certificate. It’s a good place to start, especially if you are unfamiliar with the business of coaching.
  
• You should determine who your clients will be. What part of the community will you most likely serve best as a coach? Then, establish a roadmap for how to get there. Will you provide packages and products to go with your coaching (advisable)? What about virtual conferences and one-on-one meetings? What level of income are you going to need? What kind of information can you put on your resume and/or portfolio that will represent a solid capability of coaching? What kind of experience do you have (not to be confused with mentoring)?
  
• Build a web presence. If you are going to have an online coaching business, a place to host that business is paramount. Whether you build it yourself or hire someone to do it for you and/or provide copywriting/content is up to you and your skillset. This includes social media, such as LinkedIn, Facebook, and even YouTube. Use your web presence to network for potential clients and even with other coaches who can teach you the ropes. Create podcasts for your website. Include articles so that clients can see what you know. Offer products of some kind that provide coaching from you.
  
• As part of your web presence, but important enough to point out separately, create an online community. A forum or blog is the best bet, here. The idea is potential clients can view material based on your coaching with the ability to interact with you/contribute to what you are talking about/asking about. This generates the possibility of more understanding on their part and even yours (you can learn some things as well), and it creates the additional possibility of future clients.
  
• Consider a certification. As stated earlier, the ICF can guide you in that endeavor. Why get any kind of certification in an industry that is void of regulation and oversight? The simple answer is that no one knows how long that will last. As with anything that develops a large impact on society, it’s only a matter of time before coaching meets bureaucrats salivating at the fresh meat of an open industry. Get a certificate now and that can put you ahead of any changes that might come later.

Article Author:

Business Training Media is a leading provider of business training courses for employees, managers, supervisors and professionals.

Subscribe to their free Workforce Management eNewsletter that’s jammed packed with informative articles, tips, case studies, white papers, downloads and more.