Business Coaching and Home Based Businesses

When it comes to business coaching, many coaches specialize in small to medium sized companies. Those with experience in executive settings, assist large corporations. Regardless of the specialty, there is money to be made. But, many business coaches are failing to change with the times. Many do not realize the potential of home based businesses, but you can and should.

As you know, home based businesses come in a number of formats. For example, a mom may run a daycare out of her home, a dad may make handmade toys to sell from home, or a cosmetologist may run an in-home salon out of the garage or basement. In terms of home based businesses, the options are endless. They also vary in size. Most are self-employed; working for themselves and by themselves. Some hire outside help.

Anyone can start a home based business. Someone who has a dream or a passion or wants to leave the dog-eat-dog corporate world behind can start a business and right from their own home. There is a growing trend though. That trend is parents who want to work from home. Some want a work-at-home job, meaning they are employed by a company, but perform their tasks at home. Others, want to capitalize on a talent or hobby and start their own business. For parents, starting a home based business provides them with unlimited flexibility and control.

Do you need proof that people want to start their own business? If so, perform a standard internet search with the phrases “work-from-home,” and “home based businesses.” You will get thousands of results. There is a lot of information available online to assist these people, but they need more. Just because a parent has a good product or service and a website, it does not mean that they will make money. That is why they can benefit from using your services as a business coach.

The first step in working as a home based business coach is to find clients. If you have a website, include home based business coaching as one of your services. Then, seek out these individuals. As previously stated, a lot of information can be found online. Most websites are informational sites, but some are online communities, like message boards. Join; insert yourself into the community. Add a link to your business website in your profile and signature. Join in on the discussions. If someone asks for tips, provide them with a few. Never give out too much information. Members will wonder how you know so much and who you are, so they should click on your links. If they want or need your service, they will use it.

Once you acquire a client, it is time to get to work. Home based business coaches tend to have more responsibility and tasks. This is because many home based business owners setup shop on a whim. They realized they could make money doing something they love and ran with it. Some did not even have a plan in place. If your client does not have a business plan, coach them through creating one. This plan should include what they sell, who their targeted market is, how they intend to generate income, and how to market their product to the public.

Business coaching involves encouragement. You need to encourage home based business owners to take a step in the right direction. Show them their potential. If they truly have a great product, show them exactly how a solid marketing can increase sales. Even if their marketing plan results in five new customers a week, calculate for them the additional yearly profit. Also, given them ideas to run with. Do more than just say “you need to market your business.” Give them specific examples, watch implement, and offer feedback.