If you like to spread your knowledge through people and helping them reach their skills and knowledge, an online home-based coaching business website might be helpful for you. The best advantage today for coaching is technology has evolved your ability further way to provide coaching services. It is not anymore like limited to having a coaching center where you meet students in person to coach face to face.

The amazing technology Video conferencing has changed the scenario, and today face-to-face coaching all over the world is easily possible. That is one of the reasons the coaching profession boomed during pandemic. If you have the communication skill to connect with and help people, its simple that coaching might be a great home business option for you.

What to do?

Coaching is not similar to counseling and it needs a specialized degree and licensing. Just because coaches help their students achieve similar goals aimed at helping them improve their skill set. Difference is that coaches tend to focus on specific areas and measurable outcomes.

Like a business coach trains entrepreneurs to expand their business. A financial coach helps someone get clarity on their life’s economic condition and focuses to refine financial management toward achieving the goal. A health coach helps people who want help with nutrition and fitness. And so on.

Several types of coaching can be possible:

• Life Coaching
• Career Coaching
• Business Coaching
• Executive Coaching
• Wellness Coaching
• Performance Coaching
• Skills Coaching
• Financial Coaching
• Stock Market Coaching
• Technological Coaching
• Spiritual Coaching
• Beauty Coaching
• ……. many more

Categorized niches exists within these. For example, a life coach can focus on relationships, a business coach can focus on marketing skills, or a stock market coach can focus on share trading.

The Earning Possibility

Earning possibility for coaches are very high. It obviously varies a great deal depending on the type of coach and the area of coaching, in which category the coach does business, and some other parameters. According to an well known coach in Mumbai as of June 2021, earning for life coaches can ranges from Rs.5 lac  to 8 lac per year. Commercial coaching to businesses generally are more income generous, because companies usually have more to spend on coaching than individuals.

The Pros of Coaching

• • Persons with any skills and the ability to help others can become a coach. But it’s recommended to take some certified course on certain field.
  • Now It’s affordable to start a coaching business. All you need a computer, Internet connection, Web cam and some softwares which are many free. You should also have a website for your coaching

• You can easily feel good about helping people in the area you coach in. Its possible to provide individual or group coaching. Especially for people who can’t afford one-on-one time with you, group coaching allows them a way to work with you, and in turn, you can help more people in less time.
• You can offer add-on products or services to further assist your clients. Many coaches have books and home study products giving them additional income streams. Many of these can be passive income sources.

The Cons of Coaching

• • A certificate is not required at this time, getting certified can increase your credibility and marketability. But getting a coaching certification takes time and money.
  • There are need of great people skills and patience. Because people who come to you for help doesn’t mean they’ll do what you suggest. Actually, most people are fearful and resistant to change, so you need to be able to support, encourage and sometimes challenge your clients to make needed changes.
  • You have to spend a lot of time on the phone or video conferencing. If you don’t mind having many appointments a day, that won’t be a problem.

• You need to be in top form whenever you’re with clients. You might feel bad, have a personal issue or other difficulties in your life, but when you’re with a client, you need to be “on” no matter what.
• It can take awhile to build a solid, stable business.

Steps for Starting a Coaching Business

If you’re ready to give a coaching business a go, here are tips to getting started.

• Decide in which field you are to give coaching: Life and business coaching are extremely popular, but they aren’t the only types of coaching you can do. You can be a weight loss, fitness or health coach, parenting or relationship coach, organizational or productivity coach, technical coach, sales coach or a career coach.
• Best getting a training first: Again, this is not required, but it can help you be a better coach, provide you with helpful tools, and earn you certification, which can increase your credibility and marketability. It goes without saying that you should have knowledge and skills in the area you want to coach in. This can come from personal experience, but you might want additional training. For example, a fitness coach could benefit from having a fitness certification.
• Set up the business: Decide your business structure, create a business name and get a business license as required by your city or county. Consult with a lawyer to write a coaching contract that outlines your services and expectations.
• Arrange needed equipment and materials: If you’ll be doing video conferencing, download the needed software and purchase a quality headset. Some coaches record calls and give them to their clients so they can review their sessions. If you want to do that, you’ll need to get software that will record and store your calls. If you plan to have handouts or homework, put those together.
• Create a website: Potential clients need a place to learn about your coaching business, and there’s no better place to sell your coaching and related materials than on a website. Write content that is client-focused and describes how you can help people improve their lives. If you have testimonials, then post them on your website.
• Have a marketing plan: Figure out your best clients and where you can find them, then develop marketing strategies to lure them to your business. For example, if you’re a career coach, you should develop a LinkedIn profile. If you’re a personal training coach, you might want to have videos on YouTube that offer fitness tips or teach specific exercises.
• Advertising and selling: Getting your first client will likely be the hardest. Use your personal and professional network to help. Consider offering free 15 or 30-minute coaching sessions to entice people to try you out. Start a blog or write articles for other blogs and media that provide tips that can help you gain exposure and credibility. Another great way to get clients is by offering workshops.

Coaching isn’t a business to take lightly. People are entrusting their emotional and possibility their physical well-being to you. You owe it to them to stay on top of current trends in your industry, as well as best practices for coaches.