#1 Follow a System
It’s no good joining a franchise if you are not willing or able to follow the footpath of those that have tried this before you. Being in a franchise means that somebody has already done the hard work, so you don't have to. If you're the type of person who wants to constantly innovate and come up with your own ideas, then a franchise may not be the right answer for you. But, if you've got the skill and ability to be able to follow a system, then this maybe the right career path for you.
One of the skills you, as a business coach, will need to have is being able to PLAN. You need acquire great skill around planning your time and helping your clients also plan, but more so planning out your own business growth. Because as a franchise owner, you are going to be responsible and accountable for growing your own book of clients and making sure you're delivering and getting results with those clients. So planning is really, really, important.
In this business, communication is paramount to your success. If you are unable to communicate effectively with your franchisor, or with your team or your client, you're going to find it very difficult to be able to succeed in this industry.
#4 Coaching Skills
Before you get into the world of business coaching, you may not have coaching skills right away. But, if you are willing to develop those skills, then this will work for you. As a business coaching franchisee, you need to be able to coach people, you need to be great at coaching and understanding how coaching works. This is a skill that you may have already developed through your previous roles in your life or they may be skills that you'll need to develop, but it's definitely a great skill to have as an owner of a business coaching franchise.
#5 Skill of Business
You need some business acumen and understand how a business operates. From marketing through to sales, operations, business administration and finance. You don't have to be a guru at all these things, but you need to have a little bit of skill and understanding of how a business operates and how to go about expanding and growing businesses.
#6 People Skills
Understanding people's different personality types, understanding what drives and motivates people, what holds people back, and being able to get on with people is important in the world of Business Coaching. If you're the type of person who doesn't get on with people, this game is not going to be for you.
#7 Money Management
When starting you own Business Coaching business, it is essential that you have some skills in cash flow and money management. This is the ability to manage your finances and cash flow forecasting. You don’t want to start your coaching business and then run out of money. Money skills is one of those skills that I think a lot of people overlook when they go into their own business, but it's something that is really, really, important if you're going to succeed in your own business and coaching franchise.
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About the Author
Ben Fewtrell is a sought-after Business Coach, Keynote Speaker and trainer who has featured in Virgin’s Inflight Magazine and Entertainment Portal, SKY Business and "Secrets of Top Business Builders Exposed". He is also the host of the popular Business Brain Food Podcast where he interviews leading experts on anything and everything business.