How to Build a Coaching Practice
Consulting differs from coaching in many ways (although the terms are interchanged rather flippantly). A consultant is more likely to take a hands-on approach with a client, offering specific deliverables based on the client’s need (whereas a coach more closely resembles a mentor, counselor, or therapist).
The field of coaching has grown rapidly over the last decade. There are now several certification and training agencies, such as Coach University and The Coaches Training Institute. It’s not critical for you to be “certified” to serve as a coach; however, you may find the education beneficial.
One-on-one coaching via the phone allows you to work from home and manage your own schedule, serving clients anywhere on the planet! You can schedule coaching sessions monthly, bimonthly, three times per month, etc., depending upon the nature of your coaching practice and your area of expertise. Coaching sessions can last anywhere from 25 minutes to an hour (calls less than 25 minutes may barely scratch the surface). Over an hour and you may end up with a therapy session.
If you have a synergistic relationship with your clients, and you are both committed to constant growth and development, the relationship can last for many years. Pricing is determined by your field, specialization or expertise, and your professional status in your market. Business coaches usually charge more than “life” coaches. Monthly coaching fees range from $75/session to $1,000+ per month. Based on your area of expertise, you may be able to create a niche and offer something that’s very difficult, if not impossible, to duplicate.
The primary way of generating clients in the coaching field is through referrals. Working hard to produce results and provide massive value for your clients is the best way to grow your business.
Here are several useful resources on coaching:
• Coach U: www.coachinc.com (coach training)
• The Coaches Training Institute: www.thecoaches.com (coach training)
• Coachville: www.coachville.com (online coaching community with over 40,000 members in 139 countries)
• International Coach Federation: www.coachfederation.org (professional association of coaches)
This post is an excerpt from the FREE Become a Best-Selling Author eBook, 60 Effective Strategies for Selling More Books. Download it here.
Posted in Consulting
