What would happen if every small business in the world shut down?
Morris, my chiropractor.
Raf, my husband’s barber.
And maybe you.
You are all small business owners affected by Covid19.
It took a pandemic for us to feel and notice just how important our local small businesses and their owners are to our lives.
According to the World Trade Organization, small businesses represent over 90% of the business population.
They provide 70% of all jobs in the world. We are just beginning to feel the impact of this crisis.
1. Coaches Are Small Business Owners
I’m proud to be a small business coach.
Being a student of appreciative inquiry, I don’t like to focus on bad news. The reality is, as corporate coaching budgets are being cut, things are going to get a whole lot worse before they get better for coaches.
What is your plan to put food on the table when these contracts dry up? Maybe they already have for you?
It’s time to think about your business. What will it look like 3 months from now, 6 months from now, next year?
We can coach.
2. Coaching Small Business Owners Is a Market to Be Served
Small business owners do better with a coach.
I have some proof. Innovation, Science and Economic Development of Canada statistics show that 51% of all small businesses fail in the first 5 years. Those are in good times.
Of the 300 small business owners I have coached, less than 17% of them have closed their doors in the past 12 years. That includes the ones that made a choice to close.
Now Covid-19 means that this is going to change. I’m not sure yet what that will look like.
What I do know is that my clients are tenacious. They work hard to achieve their dream of prosperity and freedom. To have enough money to take the issue of money off the table, while building a strong foundation to enjoy personal freedom.
I have the privilege of introducing you to 2 of my clients who I have served. Both have been adapting their business models to stay open while at the same time making huge contributions to their community during the COVID19 crisis.
What I would like to share with you today, is that as a coach, you too can help small business owners through this crisis, while re-imagining your own coach practice.
The market of small business is important because it’s an alternative to coaching corporate CEO’s, while still giving you new revenue opportunities.
Most important: This market needs you now and it could be the game changer to keep your own business alive.
Now let’s talk about the elephant in the room – Money.
3. Small Business Coaching Is a Profitable Industry
How can small businesses who are struggling afford a coach?
My guess (and I have some proof) is that the money is going to come from governments who will be desperate to re-build their economies. They need the 90% of small business owners who are creating jobs and paying taxes.
In 2020, Canadian Prime Minister Justin Trudeau announced a regional development budget of $962 million to help local businesses.
Just like Canada, governments all over the world are doing everything they can to keep their economic engines going.
Way back in 1992, the same government gave me a $7500 business training grant, along with a coach, and she helped me start my business.
In turn, I employed 7 people for 7 year and pumped 3 million dollars a year into the economy. That was a great return on their investment.
4. Small Business Owners Give Back to Their Community
You are making a difference in the world each time you have a coaching conversation with a small business owner.
You create secure, meaningful jobs, reduce stress, help restore confidence and strengthen communities.
I did some math and together these 2 entrepreneurs have given $130,000 back to their community and support others affected by Covid-19.
Imagine how much will be given back to the economy and community if more small business owners had coaching support.
5. You Have the Road Map to Success
As you navigate coaching small business owners, there are lots of resources to help you.
You don’t need to be a small business expert to coach small business owners , you just need to use your existing coach skills and ask the right questions.
And if you want more than that, try our online Small Business Coaching Foundations course.
Your coaching skills and expertise are transferable from other markets. Helping small business owners may be the change your coaching practice needs!
I am here, along with the whole team at Systems Business Coach, to support you as you help small business owners!
What Do You Need to Enter the Small Business Coaching Market?
You may need to brush up on your math. And change the tools you use to coach.
Instead of using a 360, you may have to review with your client a their marketing or debt reduction plan and ask questions about those.
These two amazing entrepreneurs talk about the power of coaching and how it’s allowed their businesses to thrive during a pandemic and beyond.
Earlier, I asked you— what would happen if every small business in the world shut down?
Imagine, like I do, a world where all small business owners have the skills, tools, and confidence to contribute to a healthy world economy, creating secure, meaningful employment while maintaining personal prosperity and freedom.
Coaching small business owners is a market to be served.
Are YOU ready to help them?
Follow your road map to success!
Check out our Small Business Coaching Foundations Course.