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The Business and Practice of Coaching: Finding Your Niche, Making Money, and Attracting Ideal Clients ReviewI liked this book. I'm glad I purchased it. There really are not that many books available at present on "the business" of coaching. The other one I have, that I'm about to review, is Four Steps to Building a Profitable Coaching Practice (ISBN: 0595296602) which was written in 2003.
I'd say the instant book does a good job of describing the coaching field outside of the sports realm. It talks about whether many of its participants make a reasonable living (they don't), and it talks about the various fields or backgrounds coaches come from (therapy practitioners and consultants). It tries to be helpful in explaining how to be a successful coach from both a coaching perspective and from a business perspective. There are 17 chapters included:
1. Coaching: Trend or Fad?
2. The Differences Among Coaching, Therapy, and Consulting
3. Becoming a Great Coach
4. Four Questions to Your Perfect Fit
5. From Specialty to Niche
6. Attracting Ideal Clients
7. The Coach as Entrepreneur
8. Business and Your Emotional Intelligence
9. Why Good Coaches Go Broke
10. Staying Safe and Legal
11. Executive and Leadership Coaching
12. Business Coaching
13. Skills Coaching
14. Career Coaching
15. Life Coaching
16. Wellness Coaching
17. Creativity, Relationship, and Spiritual Coaching
My favorite chapters were 2, 5, 12, and 13. I am in the process of putting together a business plan for an online coaching business that will compete directly with many law firms, accounting firms, and fiduciary departments in banks. As a result, Chapter 2 was of particular interest to me because it compared coaching to counseling (legal counseling). Coaching that crosses the line into legal counseling can be construed as the unauthorized practice of law which is regulated on a state by state basis. I can't say that I thought the book did a particularly good job of explaining the difference, but it was better than most articles on the subject I have read.
The book explains that only about 10% of professional coaches gross six figures in a given year. That is not a very good statistic. But I suspect the success rate is so low because most coaches are not very knowledgeable about starting and running a business so it is profitable. The authors in this book attempt to explain how the 90% could make more money by including chapters 5, 6, 7, and 9. And I thought these four chapters had some good content. But I think the reader would have benefited more if the book had instead covered in detail the importance of having a sound written business plan, and how to go about writing a sound business plan. The book did not do this. At least I didn't see it.
If you are looking for a book to tell you how to be successful as a professional coach, then I don't think this book is for you. However, if you are looking for a book that will cover many of the issues you need to consider if you want to have your own coaching business, then you'll get a lot from this book. 4 stars!The Business and Practice of Coaching: Finding Your Niche, Making Money, and Attracting Ideal Clients Overview
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