Anthony McAvaneyHelping to educate tomorrow's entrepreneurs
Unmet needs are opportunities for new value creation
Today there’s a global shortage of coaches, even as more and more people are now realising the benefits and power of coaching, and the positive effect this can have on a person’s life.
Along with this growing awareness of the benefits of coaching is the realisation that coaching is no longer a luxury reserved for the wealthy…people from all walks of life now embrace the opportunity to work with a coach.
And…there has been a huge move for the delivery of virtual coaching. More and more people who are looking to work with a coach are now more than happy to interact with their coach online.
The best thing about that situation is that it has never been easier to set up an online business…and that includes an online coaching business.
Clearly, this means there are opportunities here for new value creation by people who want to help others and make a positive impact on their lives through coaching…someone like you perhaps!
What Are Your Thoughts About Working For Yourself…As A Coach?
There are a lot of reasons why many people would never, ever consider taking this step. Is this something you would never consider doing? If so, this website probably isn’t for you.
On a brighter note though…there are just as many reasons why some people do decide to take this step…all they need is a reason why?
If you’re sitting on the fence about taking this step, then maybe the following questions might help you decide, one way or the other, if you’re a good candidate to be your own boss:
- There’s a distinct possibility that your current occupation is being rapidly overtaken by technology…meaning at some point in the near future you won’t have a job or career
- Again, due to technology you’re increasingly being under utilised at work…technology takes care of a lot of what you used to do, and you’re bored silly
- There’s been some whispering lately that because of COVID your organisation is about shut down. Similar organisations are also shutting down, meaning your future employment prospects are looking very shaky
- You’ve been looking for a job but have been told you’re either too old, too young, too inexperienced, or don’t have any, or the right kind of education qualifications
- Given the right kind of opportunity you feel you could probably make a go of working for yourself…you’re not afraid to work hard, all you need is someone to show you how to get started
- You’ve developed some expertise, knowledge, or skill, either through your career, or in the pursuit of a sport, hobby or interest that could be easily taught to others
- You love helping people
The Online World and You
How have you been affected by technological advances?
Think just for a moment about this.
How have you, your family, friends, work colleagues etc been affected by technological advances?
Which of the following apply:
- The way you do your job – part of your work either replaced by, or involving more use of technology
- Security of employment – have you or anyone you know lost your job because technology took over
- Where you go to get news, information, advice, entertainment, and education – from the internet
- How and where you shop – you’ve purchased something at least once online, perhaps you make regular purchases there
- How you do your banking, and pay your bills
- Do you use mobile technology, and how often – phone, tablet, laptop
These are just everyday examples of how pervasive technology is in our lives. Can you imagine it going away?
Would you agree that the influence of technology will only increase, and the use of technology in all parts of our lives is accelerating?
How are you responding to disruptive change?
Presented with such an environment where the pace of change is accelerating we have choices to make about how we will respond.
These range from:
- Do nothing and hope for the best
- See what everyone else does and follow them
- Seek out the new opportunities created by technology and learn to harness them
You would probably not have continued reading this if you chose the first two items on the list above.
So, let’s take this a step further and explore what opportunities there are out there.
From Employee to Entrepreneur
Many people are now realising that in today’s world the only real job security is that which you create for yourself.
If you, or perhaps a family member, or friend has had their position suddenly made redundant you will understand the basic truth of that statement.
Since the year 2000 I have worked as a job search coach, specialising in outplacement counselling and coaching. This means I work regularly with people who have had their jobs made redundant. I’ve dealt with literally hundreds of clients in this position. And a few things stand out.
Having your job made redundant has nothing to do with how well or how poorly you worked, or how long you have worked.
It’s not necessarily anyone’s fault. Organisations today are simply in a constant state of change looking to improve efficiency, productivity, competitiveness, market share and of course, profitability. In many instances this means adopting new technologies to achieve these outcomes. And the fallout is ……..people have to be ‘let go’.
So, whether you or I like it, or not, we cannot afford to rely on old skills, and the old model of being an employee for our financial security and job security.
It is in times like these that people are taking advantage of the technology available, and of changing patterns globally in consumer behaviour to become an online provider of information, products and services.
In other words there is a major swing towards people developing entrepreneurial skills and setting up their own online businesses.
This isn’t to suggest that you have to jump overnight from being an employee to become an entrepreneur. Forward thinking people are building online businesses alongside their existing jobs, realising that it takes time to develop the skills to set up any type of sustainable business.
What’s your approach to risk management?
When I raise the subject of people becoming an entrepreneur, or gauging someone’s interest in getting involved in online business I find it amusing when people say that they aren’t risk takers…..that they don’t like taking risks.
So, here’s a statement, and a question for you to consider –
This especially applies to traditional employment….. thinking, or assuming that their job will always be safe, that their employer will always look after them. Today, most people would agree that this is a totally unrealistic expectation! Are you prepared to run the risk that your employment is, and will continue to be totally secure? So……let’s get really clear on your approach to risk. Given the changes taking place what is your approach going to be:
This especially applies to traditional employment….. thinking, or assuming that their job will always be safe, that their employer will always look after them. Today, most people would agree that this is a totally unrealistic expectation!
Are you prepared to run the risk that your employment is, and will continue to be totally secure?
So……let’s get really clear on your approach to risk. Given the changes taking place what is your approach going to be:
Online Business, Traditional Job/Career, Traditional Business
What’s It To Be For You
Your Own Online Business
- You’re the boss
- Work anywhere you want, and the hours you prefer
- Basic tools and equipment required – a computer, and an internet connection
- Develop at your own pace
- Depending on the type of business you set up, no need to keep stock, no cost of inventory
- No staff (unless you choose to outsource at a later stage)
- Many of the tasks associated with running the business can be automated; reducing the time you need to spend in the business, and the need for staff
- The major investment will be your time, and money (if you decide to pay for advertising), together with web hosting fees and cost of some software tools
- The ability to set up multiple businesses, and the possibility of developing multiple streams of income
- Set up the right way it’s possible for you to create passive or residual income so that you can free up even more of your spare time
- You have access to a global customer base
- Set up the right way your business will operate 24 hours a day, 7 days a week, 365 days a year; it operates even while you sleep
- Education, training, mentoring and other support is extensively available
Traditional Job or Career
- Depending on the career or job type you may need to acquire qualifications and certifications
- College and university qualifications do not guarantee you’ll get a job related to your field of study
- The danger that your qualifications and certifications will become outdated
- The likelihood that your job will be either eliminated, changed or impacted in some way meaning a change in your employment status
- No guarantee of job security – your employer might go broke, be taken over by a competitor
- An increasing likelihood that you will be underemployed in future, meaning you might need to have two, three or more part time or casual jobs to make ends meet
- Ageism – age discrimination is a factor, it is possible for you to be either too old, or too young meaning it’s difficult to find work
- There will be limits on your income, determined by your employer and by how many hours you are available to work
- You work when your boss says you have to. If you don’t turn up you don’t get paid.
- The amount of spare time you have will be determined by the number of hours in your day, week, month and year that you have to work for your boss in order to get paid
Traditional Bricks and Mortar Business
- Typically restricted to a local market, and/or to a narrow niche resulting in being susceptible to fluctuating demand, local economic conditions, seasonal demand fluctuations etc
- Limited ability to diversify, or develop alternative income streams if tied to a particular niche or market
- Business opening hours/days are often restricted (depending on the type of business)
- High establishment costs and outlays – premises, stock, equipment and machinery, possible need to borrow money or mortgage your house to get started
- Difficult to automate many of the tasks associated with conducting business, therefore you and/or staff need to be present during business hours
- Costly overheads including rental of premises, utilities, cost of stock held, outlays for equipment, insurance etc
- The cost of staff if you employ them – salaries, hourly wages, and other on-costs
- If you don’t employ staff the business doesn’t operate unless you are physically there to operate the business
- A worrying future given the huge shift to and competition from online operators
Do you really want lifestyle choices and positive change in your life?
If this is something you’ve wanted for a while now and you aren’t getting these type of results, maybe it’s time to make changes and do things differently!
After all if you keep doing the same things you’ve always done, over and over, why would your results suddenly change?
Clarify and Focus on your ‘why”
Let me help you get started on this.
If you had all the money you needed, and you had the freedom to be doing your own thing, when you want, and with who you want……how would that change your present life?
Is that type of change possible for you if you keep doing what you’re doing now?
You see, without some compelling reasons ‘why’ you might want to start an online business like this, it is unlikely you will put in the time and effort required to make a success of your business. Financial independence, and gaining time freedom are two of the most common reasons why people start a business like this.
Let me show you a simple business blueprint for creating an online group coaching program.
Learn and build your business around other commitments
Thanks to modern internet and digital technologies you can access your training, and build your business literally at any hour of the day, any day of the week – anywhere in world.
All you need is a computer, and an internet connection. This is part and parcel of what is known as the Laptop Lifestyle.
What this means is, you set your own schedule for learning and business building. If you have a job or a business to rune, you can do this part time.
And, ultimately when you start your business you can, if you wish operate it from anywhere in the world where there is an internet connection.
As time goes on, you will find that it’s possible that you will be dealing with clients from all around the world. You will definitely not have a 9-5 existence.