Women In Business

How to be a business coach – 10 key benefits

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Australia is a nation of small businesses. Around four million of them, according to the ATO, accounting for a whopping 99% of all businesses operating across the country. This means there are thousands of workplaces out there looking for experts to step in and help them perform at their peak.

It also means there’s never been a better time to become a business coach.

The great news is that, if you have some experience in business yourself, you only really need two more things: the determination to upskill and fill in some knowledge gaps, and the confidence to put yourself out there as an expert in your field.

For many women, professional self-belief –  believing that they have what it takes – is half the battle, especially in fields which have been long-dominated by men. But once you have taken the leap, as a business coach, you’ll find a fulfilling career where no two days are the same.

Here are 10 reasons why becoming a successful business coach might just be the career you are looking for:

1. You can work from anywhere

There are many reasons why a traditional ‘office’ job might not work for you. Maybe you’re a mum returning to the workforce from maternity leave, or maybe you’re just looking to make a change in your life to be more available for your family. Perhaps you want more work/life balance than the strictures of a 9-5 role, or you want a career that you can pack up and take anywhere. Digital technology enables us to stay connected, wherever we are in the world.

Whatever the reason, becoming a business coach might be a fantastic solution. You’ll thrive on the flexibility, with the freedom to work at your own pace, on your own terms.

2. Helping people is rewarding

Chances are, if you’re considering this pathway, you’re the kind of person who really loves to help others. Ever spent an afternoon with a friend helping them sort out their life or career and thought to yourself, ‘that was actually really great advice!’? You’re probably not alone: many women move into careers like coaching naturally because they are instinctive organisers, carers and planners.

But there’s more to it than that: being a business coach is seriously rewarding. Earning a living by helping other people achieve their goals and dreams? It doesn’t get much better than that!

3. You never stop learning

Working with different people every day and learning more about their business so you can help them achieve their goals, means you never stop learning yourself.

You’ll be amazed at your personal and professional development. If you enjoy being challenged and taking yourself – mentally – to the next level, you’ll love what being a business coach offers.

4. Your network will widen

You’ll meet new people all the time, growing your community and your connections with every new business you help.

American entrepreneur Jim Rohn coined the now-famous phrase, “You are the average of the five people you spend the most time with.” As a business coach, most of your time will be spent with entrepreneurs and other motivated business people, which means you’re out there every day working and interacting with people who are building new lives and careers.

If you feel like you need to broaden your circle – of friends, colleagues, or mentors – this could be just the change you’re looking for.

5. Your own business knowledge will improve

You’ll learn so much about business – of every shape and size – by becoming a business coach yourself.

Working with business owners every day of the week, you’ll learn the fundamentals of and develop your existing understanding of what works and what doesn’t. And you’ll be able to apply those learnings to your own business, now and in the future.

6. You’ll become a leader in your community

People will look up to you and appreciate how you are helping people grow and get more from their lives. And becoming a centre of influence will only help your leadership skills: they’ll skyrocket.

What’s more, you will find that confidence in your career will translate to confidence in other aspects of your life.

7. You’ll grow your own business at the same time 

One of the main benefits of being a business coach is that you’ll grow your own business purely by virtue of all the connections you make. As a person of influence, you’ll be amazed at the doors of opportunity which will open.

From interviews, to speaking engagements, presentations and panels, you’ll find that you never stop meeting and engaging new audiences and industry peers and this in turn will mean…

8. You’ll make money!

Let’s be honest. While it’s amazing to be able to feel like your work is making a difference, it’s also important that it is paying the bills.

For successful business coaches, it can be a lucrative career. Helping a client get a business off the ground is one thing, but keeping it running (and growing) day-to-day is another. If your clients like and trust you, they will work with you for years and recommend you to others. That means your client book will grow – and your cash will flow.

9. You’ll be helping create a more responsible workforce 

Working as a business coach means holding other businesses accountable. It means you’re there, making sure businesses don’t make excuses or let down their staff or their clients or set unrealistic goals that they can’t possible achieve. In doing so, you’re helping to make the workforce more responsible and keep it in check.

10. It’s easy

Okay, so hard work is never easy, and to be successful at anything, you have to work hard. But if you’re interested in helping other business owners and you’re confident enough to branch out and work for yourself, you’re halfway there.

And the rest, truly, is easy.

You don’t need a degree to be a business coach. There are certainly things you can do – qualifications you can get, courses you can take  – and these things will only make you more valuable. But they’re not pre-requisites. And it doesn’t require a huge investment of anything besides time. You just need business acumen, a desire to help others, and most importantly, the willingness to learn.

Small business in this country, is big business. Think you have what it takes?!

About Ben Fewtrell

Ben Fewtrell is a business coach, keynote speaker, trainer, and Founding Partner of Sydney-based company MaxMyProfit. He also hosts the popular Business Brain Food Podcast. Ben’s mission is to deliver world-class, impactful business growth strategies and techniques to small businesses.

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