As leaders, mentors and managers, women are equally effective as men, and in many instances, more so. Since women began climbing the corporate ladder, studies have found that they outperform their male counterparts in many areas, notably as transformational leaders and mentors who help others to develop their skills and creativity to reach their fullest potential.
In a recent analysis, women outscored men on 17 of the 19 capabilities that differentiate excellent leaders from average or poor ones, real-life female managers excelling on almost every trait associated with excellent business leadership. These included characteristics like building relationships, teamwork and motivating others but also those normally associated with male leaders, such as driving for results, speed, bold leadership and innovation.
Women tend to be better at keeping their egos in check, more readily encouraging, recognizing and rewarding good performance which inspires continuous performance. They also rate higher in areas such as resilience, initiative and emotional intelligence. So, it is little wonder why women make great business coaches.
Where women excel in business coaching
Yes, women’s typically more mentoring, coaching style is generally more favorably received in female-dominated fields while men’s more typically “command and control” style is better received in male-dominated industries. And yes, many women prefer working with women, so they are more likely to choose a female business coach. So, some of the world’s most successful female coaches have carved a niche for themselves as coaches strictly for women.
For example, The Mom Biz Coach and author, Lara Galloway, specializes in coaching to women entrepreneurs to them make the right decisions, set the right values and priorities, and be confident to get the best in both the business and the family. Another top business coach, Carrie Green has worked with thousands of women from all over the world, across multiple industries to turn their ideas into a business success.
However, ring-fencing women to female-dominated arenas or to working with ladies-only clientele, is too simplistic. Female coaches also excel in male-dominated fields and with coaching men. Recognized as one of the world’s top ten female business coaches, Megan Ladd has helped countless ambitious people, from Forbes’ 30 under 30 CEOs to VPs of Fortune 100 companies, reach their potential. Coach and author, Kathy Caprino has also worked with countless men, and have coached male leaders, entrepreneurs, business owners and executives.
What is your role a business coach?
If have a passion for people and enjoy motivating, mentoring and supporting others on their journeys to success, you might be considering starting your own coaching business. It is a rewarding career path and it can be lucrative too.
As a business coach you will help business owners to plan and prioritize the goals and strategies that are needed to drive their business closer to their vision and goals.
The International Coaching Federation defines business coaching as “partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential. Business coaching is a distinct service and differs greatly from therapy, consulting, mentoring, or training.”
When hiring a business coach, people are looking for someone to show them a proven path and to provide them with the steps and guidance to grow their business. An effective business coach focuses on helping clients to increase the profitability, efficiency and overall success of their clients’ businesses.
Ideally, you should know how to succeed in business and have experience in the corporate world or as a successful entrepreneur. Business coaches are experts in their field, so with their experience and knowledge, they understand what it takes to set up a business for success.
Yes, you will find yourself in the role of motivator and sounding board, but your focus is coaching them to achieve their higher aspirations in business, not their personal goals.
Do you have the traits to be a great coach?
Experience is a powerful teacher so the best business coaches use their experiences to guide business owners to negotiate challenges and avoid some of the business world’s harsher failures.
But aside from experience, the world’s best business coaches have the ability to help business owners to visualize and calibrate their goals, and then hold them accountable in meeting them. For this, strong communication skills, motivational capabilities and empathy are needed.
How many ticks do you get on our checklist?
- Experienced in business and have achieved success in running or building a successful business
- An active listener
- Passionate about people
- A strong communicator
- Goal orientated and organised
- Accessible and approachable
- Strategic and analytical
Carving your niche
Business coaching, whatever your niche might be, is about growing people and helping them to bring their big dreams to fruition. Many of business coaches differentiate themselves by defining a niche. What is your speciality? Is there a specific industry or a specific aspect of business in which you have established experience? Are you most interested in getting startups off the ground? Would you prefer to help female business owners?
Identifying your niche ensures that you can leverage your strengths while also lessening the complexity of your marketing efforts to attract and win the trust of the clients YOU want. As a generalist business coach, you will need to refine your marketing strategy for each market segment in which you are hoping to attract clients. Don’t worry if you do not know this right now. Most coaches only figure out their niche a few months into their coaching journey. However, it is worth thinking about your areas of expertise and interests, and thinking about where you could specialise.
What training do you need to be a business coach?
People feel reassured when they know they are working with someone who has the knowledge and experience to guide them in navigating the challenges they face in their business. You need to invest in your own personal development. Make sure that you have qualifications behind your name and continually strive towards growing your list of credentials.
You should get professional training, enlist a coach or a mentor, and network with industry thought leaders. By joining an established and recognized coaching franchise, network or franchise, you get the value and credibility that comes with it. The more prominent the brand you are associated with, the greater the gains will be in terms of exposure and credibility.
Learn more about the training ActionCOACH Ireland gives its coaches to set them up for success.
Becoming a business coach
When you decide to become a business coach, you are also making the decision to become a franchise owner so you should have an entrepreneurial spirit and be prepared to put in the work that is needed to get your business off the ground.
ActionCOACH loves to engage with exceptional leaders who have a passion for helping people and making a difference. That is what business coaching is all about. We realize that not everyone is designed to be a leader, a self starter or a motivational learner.
Read this guide to find out if ActionCOACH Ireland is an authentic opportunity for YOU!
Top 3 Most Recent Blogs
Business Consulting versus Business Coaching: Which one is for you?
With the growing challenges and uncertainty of doing business in the COVID-19 era, many businesses are turning to business consultants or business coaches for help. As someone with business [...]
Seven essentials for a successful franchise partnership
The most successful franchise partnership are built on a foundation of mutual respect between franchisors and franchisees. Much like a marriage, these relationships require open communication, collaboration, respect, trust, [...]
Rationalising your Investment in an ActionCOACH Firm
You’re reading this because you are considering investing in an ActionCOACH Firm. You believe that buying a business is an investment; an investment that will provide an additional income [...]
Leave A Comment