Ever thought about becoming a business coach? In a world where Covid-19 is starting to dictate how we live our lives, it makes sense to investigate whether this low-cost, high-profit, digitally-led business model is the one to change your future.
Over the past six months, the world of business has changed immeasurably. And it’s all because of Covid-19. Many of the freedoms we enjoyed pre-lockdown can no longer be taken for granted. What we considered as acceptable behaviour at the start of the year, may now be viewed as putting our health at risk – as well as that of others. ‘Normal’ day-to-day activities have changed for the foreseeable future and possibly for ever.
The words ‘social distancing’ will become part of our daily lives long into the future, or so it seems. Schools, leisure centres, retail outlets and work places have had to impose ‘new rules’ which govern the way in which we interact with each other when entering these establishments. The business community has been turned upside down. What was once deemed a safe and solid business, may now be considered as a high risk venture. Is there any business opportunity which can be considered as being ‘immune’ to the problems of the current climate?
As things stand right now, it is not a good time to be involved in the travel industry, or any business which relies on people meeting in groups or at events. All of a sudden, businesses need to run virtually, perhaps via Zoom or with the help of Microsoft Teams. The key is to find a business which not just survives turbulence but actually prospers in times of recession and turmoil. It needs to cruise through the good times, and thrive when the world outside is struggling. And, believe it or not, these types of businesses do exist.
For those contemplating starting a new business, there are three ‘golden criteria’ to take into account.
1: Stock
Dealing with stock is one of the worst elements of any business. Physical products are expensive, they take time to order and collect, as well as occupy valuable space. The logistics of safely dealing with stock, in the current crisis, is becoming more difficult too.
2: Staff
Employees are often the single biggest cause of stress for any business owner. It’s usually the most costly part of the business as well.
3: Shop
A bricks and mortar business adds to the already sizeable costs. Paying rent for a shop or office is often the final nail in the coffin of a struggling business.
A new way to do business
One rarely mentioned profitable business, which is doing well right now, is that of the business coach. As a business coach you work remotely, usually from home or wherever you want, saving yourself thousands of pounds in unnecessary costs. You can run a hugely successful coaching business without staff, saving yourself hassle, stress and even more costs.
In short, being a business coach is about low costs and high profit. In addition to enjoying a high profit margin, business coaches are currently in high demand. Business coaches are needed in times of prosperity to help already successful companies grow their sales and attract more customers. And when life starts getting tough for small businesses, their owners require even more help from coaches.
Entrepreneurs Circle is the UK’s largest business coaching organisation and since lockdown was thrust upon all of us, demand for its services has grown. There is now more and more business owners seeking the help of coaches to navigate their way through choppy waters – and the waves are getting larger every day.
Why become a business coach?
Contrary to popular belief, you don’t need decades of experience to become a business coach. The purpose of a business coach is to help a company find more customers. They also need to lure existing customers into either spending more or making more visits to the outlet – whether digitally or physically. Pulling any of those three levers in a business will result in growth. Pull two or three at the same time, and the results can be exponential.
This article come courtesy of Entrepreneurs Circle. Anyone wishing to become a business coach should get in touch with the franchise Entrepreneurs Circle. Budding new coaches will receive training, resources and all the strategies they need to generate results for their clients.
