Whenever I go somewhere the first question people ask me is, “Avi, can I start a life coaching or executive coaching business from home?” And I say yes!
They always have their second question ready, “but Avi, we don’t have any office or staff. How can do it?” People are always skeptical about their competencies. But I believe we all are permission slips for each other and we get motivated when we see someone doing something that we desire. So, I always share the story of Ram Singh who expanded his coaching and consulting business without any staff or office from home?
But before that, you need to know what is coaching actually?
So you want to start a coaching and consulting business from home without renting an office space, having a receptionist/assistant, or hiring any employees? I will tell you how to start coaching and consult a business without any staff or office from home.
What do coaches do?
Coaches are business professionals who help their clients reach their goals. They are trained to recognize their strengths and blind spots and use them to improve their efforts and clients’. A coach is someone who guides, teaches, and promotes her client’s business growth. She helps her clients set realistic goals, devise effective strategies to meet those goals, and monitors her clients’ progress to ensure progress is being made.
Great businesses can be built from a home office.
Starting a business from home can be intimidating, especially if you’ve never done it before. But it doesn’t have to be. By planning and finding the right tools, you can start your own consulting or coaching business from home. To get started, you need to determine the kind of business you want to run. Do you like to offer coaching services? If so, what type of coaching? Do you need a physical location? Do you need a website? Do you need a business plan? Do you need a marketing plan? Before you launch your new business, you will need to ask yourself a few questions.
The most successful entrepreneurs start their businesses at home. It’s often cheaper, less risky, and less stressful. But most small businesses fail within the first three years because they don’t have the resources or expertise necessary to succeed.
Starting a business from your own home doesn’t require a lot of capital or technical knowledge. Research and planning are, however, crucial. So, here I am sharing my step-by-step guide to start your coaching and consulting business from home without any staff or office.
1. Find a target market and develop a niche proposition
The best way to start a consulting business is to find a target market and develop a niche proposition. Most startups fail due to an inability to focus and a lack of resources. Starting a business is easy. Starting a business that becomes profitable is much more difficult. Successful companies leverage their existing resources (in this case, knowledge, experience, relationships, etc.) to create new products or services that address their target market’s needs.
2. Select a specific problem you want to help your target market solve
Start by identifying a specific problem you want to help your target market with. For example, if you’re starting a business coaching company, identify a particular issue you want to help your target market solve. It could be something specific like finding a mentor or starting a new school. Once you know what problem you want to solve, come up with concrete ideas to help people solve it. For example, if you identify a problem with starting a business, brainstorm several ways to help someone get started by providing free advice, coaching, or resources.
3. Who will be your competitors, and what will differentiate you from them?
The first step is to identify your competitors. For that, you need to place your competitors.
Two types of competitors exist. One is a generalist, a person who offers a range of services. Another type of competition is a specialist, who is highly specialized but offers a narrow range of services. The right type of competitor for you will depend on your area of expertise, the amount of competition in your area, and how much time you can devote to developing your business. The best way to start a business is to identify your competitors and determine what services they offer.
A variety of methods are available to do this, including web searches and employee surveys. Once you know who your competitors are, the next step is to analyze their strengths and weaknesses relative to yours and identify areas you can fit better. Next, figure out how you will differentiate yourself from your competitors. It could be as simple as offering better services or marketing techniques that your competitors don’t.
4. Brainstorm services and pricing
Understanding your pricing will be crucial, as will learning negotiation techniques that will be beneficial in the long run. If you are determining your coaching price, consider your time, the resources you will need, as well as any associated costs. The following are two common methods:
- By project: Charging by the project is perhaps the best option if you already have experience with a specific type of job. This way, you can complete it quickly while still earning well. Charging by the hour would very certainly put you at a disadvantage. Since it takes only a few hours to complete.
- By the hour: When the project will take several hours to finish, this may be your best bet. However, because most clients are hesitant to pay by the hour, we recommend allocating several hours for each assignment.
5. Create a website and build your brand
If you want to start a business consulting and coaching firm, you must identify your goal and build your business around it. It includes marketing your business through social media, online ads, web ads, and other forms of marketing.
Creating a website is the first step to a business. For example, you can begin a consulting or coaching company without having any capital or assets. Get started by creating a website that attracts clients through SEO and content marketing. Then, start selling your services. Over time, as you build a loyal audience, you’ll have more opportunities to sell more products.
6. Find your ideal clients and start selling
The best way to start a business consulting/coaching company is to connect with like-minded people. Start by finding your targeted clients and then reaching out to them with an offer you think they would consider. After you’ve got some clients, start building your consulting business. Work with local businesses to advertise your services and offer special deals. Let people know about your business through social media (Twitter, Facebook, etc.) or face-to-face meetings.
7. Learn closing and negotiation
The best way to learn and succeed in business consulting is to learn closing and negotiation skills. These are necessary skills for anyone who wants to start their own business or get a job in consulting. These skills will allow you to close a deal even when it seems like the odds are against you. In addition, they will enable you to negotiate better with your clients and get more customers for your business.
8. Stand out from the crowd
The first step on your path to social media success is deciding what you want to accomplish. Without initially outlining your goals, you’re taking a jump in the dark and risk squandering time – which is already scarce when running your own coaching business. Do you want more people to visit your website, book appointments, form business alliances, or follow you on social media? Choose one and concentrate your coaching company’s social media efforts on it. Set up metrics to track your progress so you can stay focused on the prize.
9. Set Clear Goals
Working out what you want to achieve is the first step on your path to social media success. You’re taking a risk by not outlining your goals first, and you could end up wasting time, which is already restricted when running your own coaching business. Do you want more people to visit your website, book appointments, form business alliances, or follow you on social media? Choose one and concentrate your coaching company’s social media efforts on it. Set up metrics to track your progress so you can stay focused on the prize.
10. First Impressions Count
When you first meet a client, you obviously dress professionally, make eye contact, and present yourself professionally. It’s no different when your customers learn about your company through social media. Online, first impressions are even more crucial. While studies show that it takes 0.1 seconds to judge a person in person, it only takes 0.05 seconds for buyers to create views about a company online. Therefore, your social media pages and blog must look professional and aesthetically lovely before you even consider content. It is where a business management solution with design features can come in handy. Choose good handles and write an informative profile description.
11. Share Valuable Content
We propose using the one-in-seven rule when it comes to distributing content. Share six items that are amusing or relevant to your followers for each promotional post, but don’t blatantly advertise your services. These can be your blog posts, fascinating articles from other reputable sources, news stories about your coaching business, or ideas for valuable products that compliment your coaching services. You won’t be spamming your followers with unending commercial material, but you will gain their trust by becoming a trusted source of up-to-date information about their interests.
12. Know Your Niche
How will your clients know what makes your coaching service great if you don’t know? For example, if you’re a business coach, you should consider if you’re best at helping executives improve their leadership abilities or assisting small business owners in getting started. Do you have success dealing with groups or assisting individuals in realizing their full potential? Unfortunately, there is no such thing as a correct response! However, it’s critical to determine your specialty and express it consistently across all social networks when launching your social media campaign.
13. You’ve got to network!
Coaches frequently make the mistake of focusing solely on attracting clients on social media. Using social media to network with influential experts in your field, on the other hand, can be just as beneficial to your business. We’re curious as to why you’re asking. To begin, this provides you with insight into hot themes in the coaching world and a digital marketing model from which you may learn. Second, forming alliances with non-competing businesses might be financially beneficial to both of you. Getting influential people to spread the word about your company could lead to more clients discovering it and more money.
14. Choose Your Channel
Choose quality over quantity when choosing a social media platform. Maintain consistency across your channels, share high-quality content, and measure your return on investment. You will have a hard time launching simultaneously on Facebook, Instagram, LinkedIn, Twitter, and Pinterest. Instead, start with two or three social media platforms that you are confident you will have time to maintain and expand later on after identifying where your ideal coaching clients spend time online.
15. Join The Discussion
You wrote an interesting article about the future of coaching. Your followers leave comments and questions, but you don’t respond. It instantly damages your brand. According to last year’s survey, 71% of Twitter users expect brands to respond within an hour of making a query. Social media have revolutionized customer service, and customers expect instant, personalized responses. Your social media channels should not be seen as a single-direction advertising channel but as a place to meet your followers and interact with them. Get involved and join the conversation!
16. Manage Your Time
Manage your time well with social media. Make sure that you don’t lose your head while posting manually. Use scheduling tools to post your content consistently.
Your first steps into coaching business social media marketing can be daunting ones. With so many different platforms and approaches, it’s hard to develop a social media strategy to produce results for your coaching business. But by following these cornerstone rules, you’ll be using social media to your advantage in no time. So why not also check out how Shore can help with your digital marketing to save you time and hassle.