The Ultimate Coach's Guide to the Business Coaching Industry

There's a lot of information out there about business coaching. Just ask Google, Facebook, or LinkedIn. But I couldn't find a single source online that clearly summarizes the business coaching industry and the options for business coaches today.

So, I figured I'd make one.

This article is basically a comprehensive guide, intended for both current and prospective business coaches. Wherever you are in your practice, I hope it helps you solidify the best approach and system for you, as a business coach.

How to Use This Guide

1. Read this guide to get a detailed summary of the business coaching world. Do your own homework, too, though! Like I said, there's plenty of information out there. Here, I just tried to sum it all up and organize it, with a few thoughts along the way.
2. The first three parts of this guide (after a brief intro) discuss the value of a coach, what great coaches do, and the coach's JTBD. If that information isn't relevant to you, just skip down to the bigger sections that outline the options for business coaches.
3. In those bigger sections, I broke down the coaching industry into five "categories" and gave examples of each. As you read, consider which ones best fit you and your goals. To get more clarity, I'd suggest talking with coaches from groups you're considering.
4. Once you understand where you are, where you want to be, and what your options are, make a confident decision and go for it. Whether you're choosing a coaching system for the first time or making a switch, I hope this guide helps you make a great call.

First, Some Background

It always helps to know who is writing what.

I'm Zack.

I became a business coach after a successful career as an entrepreneur and founder of a large marketing agency. After years of consulting and coaching on the side, I decided to leverage my business experience and knowledge to help other businesses prosper full-time.

It was a great decision, and I love what I do.

Naturally, when I first got started, I dove in to learn as much as I could about the industry. There were two key developments in my original process:

• First, I studied everything I could via courses, mentors, and events. During that time, I was also taking Clay Christensen's Disruptive Strategy class from Harvard Online, where I wrote an in-depth paper on the disruption of the coaching industry.

The coaching industry is ready to change. Coaches themselves will lead the way.

• Second, I selected a 'business operating system' called EOS. What sold me were the people. But EOS recently shifted to a franchise model, and that led me to evaluate my options again. I wish EOS well, but I didn't start coaching to run a franchise.

Now, as I reflect back, I am much clearer on what needs to shift.

The Value of a Business Coach

I always like to know my "why."

I believe in the power of a great coach. It's clearly evident in sports, from John Wooden to Bill Belichick. The best athletic coaches help their teams become consistently excellent.

We all know how impactful a great teacher can be, too. Teachers provide new information and perspective, guide their students' learning process, and ultimately help them succeed.

And that's what business coaches do. They help clients see things in a fresh way, prioritize goals, resolve challenges, and "win big" faster and more effectively.

I'd even argue that "coach" is the missing seat in most organizational charts.

But, coaching isn't magic.

The business coach doesn't hold a special secret that their clients must discover in order to overcome their biggest obstacles. Instead, great coaches understand human behavior.

• Many executives, founders, and owners operate in a bubble. Without a dedicated sounding board, they can sometimes wrestle with how best to face major issues.
• Working with a high-quality coach, a business leader can achieve significant victories that both drive revenue and positively impact their team and themselves.
• The best coaches don't just show up to "coach". They get there, roll up their sleeves, and dig into the business as a teacher, facilitator, and mentor.

What Great Business Coaches Do

Yes, each coach is a little different.

Their goals may be similar, but their approach and methods may differ.

Some coaches employ a comprehensive operating system to train executives and their teams. Other coaches simply provide insights, disciplines, resources, and connections, based on their own expertise. Still, others take a more conceptual, elevated approach to the business, helping clients clearly see where they are now and where they'd like to be.

The best coaches do all that and more.

Great business coaches:

1. HELP CLIENTS ESTABLISH DIRECTION • Once a client knows their short and long-term goals, their coach can help them chart a clear course to get there.
2. PROVIDE A HEALTHY CHALLENGE • A great coach is willing to risk losing their client when they need to address organizational issues and uncomfortable situations.
3. STRENGTHEN RELATIONSHIPS • The best coach doesn't leave a fire burning. They masterfully navigate tricky situations, building trust and accountability.
4. COMMIT TO SUCCESS • A top coach is fully invested in their client's success, and the relationship doesn't end at the door. The coach is there for the journey.
5. FOSTER INDEPENDENCE • The best coach helps their client achieve a state of total independence, where the coach is eventually only needed for an occasional check-in.

As with everything, the proof is in the pudding.

The "Job to Be Done" of the Coach and the Company

The 'job' is simply a problem that someone is trying to solve.

From my own experience, as a business owner and coach, I have a pretty good understanding of the 'job'. I'm sure you do, too. But to get more perspective, I recently interviewed 30 business owners and coaches to capture their thoughts and unique insights.

Here's a snapshot of what they had to say:

Business Owners:

• "As a business owner and executive team member, I don't know what I don't know. I'm typically running inside my business, working just to keep all the wheels spinning."
• "I'd love to move faster and take on new projects, but oftentimes we're just trying to keep up. I can see a vision for the future, but roadblocks get in the way."
• "We have the best culture and great people, but we struggle to adhere to consistent processes. We don't have a map or overview of our business flow."
• "We know we need to get better, yet no matter how hard we try, we just keep taking on more. We set goals, then push back projects when we can't get to them."
• "I want my people to have balance, and I want the same, yet our work has to get done, and we have limited resources. We struggle with competing priorities."
• "Ultimately, I want a business I'm proud of. One that provides for my family and my team, one that does good things for our customers and community. I want more."

Business Coaches:

• "As a business coach, I've found my calling in teaching, guiding, and helping others overcome challenges in order to reach their goals."
• "As a coach, I bring my past experiences, knowledge, and my unique ability to help others achieve what they struggle to do on their own."
• "I'm not there to solve the problems, but I do share advice and perspectives from my past and present. More often, I help those I coach find the answers within."
• "I teach systems and proven methods in areas where we don't need to reinvent the wheel. Typically, teams struggle here due to a lack of accountability and trust."
• "I challenge deeper thinking and going beyond the status quo. I will explore new theories, and I enjoy working with clients to develop solutions where needed."
• "I seek clients who are a fit for me and vice-versa. I want to work with teams that are ready and willing to change. I want to see the outcomes of our work together."

How does a Business Coach solve a Company's JTBD?

Time and again, business leaders know what they want. Often, they also know what they need. But even the sharpest, hardest-working leaders have to deal with the "urgency of the present," and every company has finite resources. Going from good to great is tough.

The business coach makes these breakthroughs happen.

That's their JTBD.

Business Coaching Categories & Options

This section is where you might get your money's worth from this guide. As I said above, I did my best to collect and organize the information on the business coaching industry that is available online. In my research, I utilized my own experience and coaching network, too.

The five categories of business coaching:

1. Business / Executive / Life Coaches
2. Self-Help / DIY Coaching / Mentors
3. Boutique Coaching / Consulting Firms
4. Executive Peer Groups
5. Business Operating / Coaching Systems

Let's dive in!

For each category, I'll share a few specific examples (in alphabetical order). Honestly, there are more examples out there than I can share in a scannable article. If you read an overview that sounds like the right category for you, be sure to do some more of your own research!

1 • Business / Executive / Life Coaches

These are individual coaches that work one-on-one and/or via a team-based approach. They offer a variety of coaching services that help individuals and companies on both business and personal fronts. They tend to build longer-term relationships with clients, although some offer timed programs and tools that allow clients to "graduate." Often, the structure is less rigid and the coaching is more calibrated to the client's specific situation, helping the client identify where they want to go and keeping them accountable on their journey.

A few examples:

• Bark | Coach listings and quotes from coaches.
• Coach.co | 1:1 business and executive coaching matched to you.
• Noomii | Directory of life, business, career, and executive coaches.

Why might this category be a good fit for a business coach?

As a coach, if you're interested in providing personal insight and training to business leaders, including coaching that can transcend business, this might be a good category for you.

2 • Self-Help / DIY Coaching / Mentors

Just scroll through Instagram and you'll find numerous self-help and DIY coaching methods. Many use click-funnel ads that promise help via a download, which then drive readers to a webinar, which in turn asks them to spend thousands on an online event or class. The basic idea is that "you learn and implement it yourself," once you have the "secret steps." I've found that some of these options can be pretty light when it comes to delivering on their promises. When it comes to mentoring, there are some quality options, though, like Lunchclub and SCORE.

A few examples:

• Lunchclub | Be a mentor and/or network with others for free online
• Melyssa Griffin | Online business classes and podcast
• Mindvalley | Numerous coaching and self-help classes online
• SCORE | Local resource for free mentoring and business education

Why might this category be a good fit for a business coach?

If you are less interested in connecting directly and regularly with clients, but have solid curriculum a customer can use as a DIY guide, this might be the right category for you.

3 • Boutique Coaching / Consulting Firms

A firm's approach will vary according to a client's budget, the firm's own availability and timeline, and the methods used by that firm. Some firms offer a certain suite of products or focus only on part of a business, while others are full-service. A business can often benefit from a good firm's proven track record of success. The cost of these services can range from thousands to millions of dollars – sometimes, the fees decrease according to the size of the firm, though it isn't always the case. Either way, it can feel like a big decision to engage a firm. A great one can certainly prove its value, given the chance. Some more than others.

A few examples:

Here, I'd suggest simply researching nearby coaching/consulting firms. There are many.

Why might this category be a good fit for a business coach?

If you have a particular area of expertise, you might be extremely valuable in a firm setting. Or, if you prefer daily, in-person community (the water cooler!), a firm might work well.

4 • Executive Peer Groups

The heart of peer advisory groups is the gathering of CEOs, executives, and entrepreneurs, who come together to discuss issues, share ideas, solve problems, and provide support and ongoing education to each other. The top peer advisory groups have thousands of members and have existed for decades. Such groups typically meet monthly, offline and online, and many also include 1:1 coaching and small breakout groups. There's no real "client" here – rather, it's a collective of experienced, like-minded executives. Iron sharpening iron.

A few examples:

• BNI | Small Business Referral Network, Local Chapters
• Convene | Christian CEO & Key Executive Peer Advisory Group + Coaching
• Empower Lab | Example of a Solo Peer Advisory Chapter, Strategic Coach
• EO | Peer-to-peer Network for Entrepreneurs, Events, Chapters
• TAB | Advisory Groups, Virtual Board, Coaching, and More
• Vistage | CEO & Key Executive Peer Advisory Groups + Coaching
• YPO | Local & Global Leadership Community, Events, and More

Why might this category be a good fit for a business coach?

If you have been a high-impact CEO, executive, or entrepreneur, and you like the thought of guiding or moderating a group of similar individuals, this category might be a solid fit.

5 • Business Operating / Coaching Systems

A business operating system blends distinct tools and processes with teaching, coaching, and facilitating to help individuals and companies reach their goals. The model has been around for years, and it emphasizes the leveraging of existing knowledge and developing improved processes that are then embedded in the client's daily business to great success. Here, the coach plays an important role in training the client. One potential downside is some operating systems position themselves as inerrant key-holders, limiting any deviation from their system. Often, though, these systems can be used to achieve great results.

[Disclaimer! As I mentioned earlier, I have worked in this category for the last two years. I've personally seen its effectiveness, and I'm working with a small team to develop a new option that best fits here, although different — per the "industry shift" I've been exploring.]

A few examples:

• Action Coach | Brad Sugars | 24 yrs old (Business Coaching Franchise)
• Business Made Simple | Donald Miller | New (Curriculum for Companies & Coaches)
• EMyth | Michael Gerber | 44 yrs old (Books, Coaching, Tools)
• Entreleadership Elite | Dave Ramsey | (Company Training & Coaching Model)
• EOS Worldwide | Traction • Gino Wickman | 16 yrs old (Moving to Franchise)
• Evercoach Certified | Mindvalley | New (Online Class)
• Focal Point | Brian Tracy | 30+ yrs old (Coaching, Training, and Development)
• Pinnacle Business Guides | Greg Cleary | 1 yr old (Coaching Model and Guides)
• Ramsay Innovations | Jon Morris | (Data-Driven Growth Coaching)
• Scaling Up | Rockefeller Habits | 30 yrs old (Certified Coaching System)

Two systems that launched in 2021 (including mine):

• System & Soul | Chris White & Benj Miller | I've seen an early preview of S&S, and I'm really impressed. I wouldn't expect anything less from these two coaches. Chris was my personal coach in EOS, and he and Benj hosted the Tractionville podcast. They also recently released The Clarity Field Guide. Message Chris or Benj for details.
• System & Soul Update (Dec 2021 - Provided by S2) | (Business Coaching Membership, Operating Framework, Actionable Tools, Online Course) System and Soul (S2) is a business operating framework created to help entrepreneurs gain clarity and control in their often chaotic and complex businesses. The framework is proven and acts as a unique blend of time-told best practices and innovative tools. The framework is taught by certified, experienced coaches, the tools they teach are part of a growing library built to meet your needs at any stage. The beauty of System & Soul is that it not only provides clarity and control over the systems in your business but strategically shapes it with the SOUL of the organization top of mind. They believe breakthroughs really happen when the system and soul are in sync. Visit systemandsoul.com to take learn about becoming a coach or to take the S2 health assessment for your business.
• Top Teams | Zack Swire & Team | Top Teams features a turnkey system, has no contracts, gives the coach total control of their own practice, and offers additional optimized modules. If you'd like more information, contact me, Zack. I'll send you our Coaching Transition Kit, too.

Here's a detailed breakout of these systems on a basic Google Sheet.

Why might this category be a good fit for a business coach?

Having a specific operating or coaching system often allows the coach to focus on the client, as opposed to reinventing the wheel. A good system can work well for almost any coach.

Business Coaching Tools & Solutions

Some coaching systems utilize proprietary tools and software solutions. In other words, if you're coaching with "_____," you'll be doing it on their in-house platform. There are other tools on the market, too. With some light customization, many of them work out of the box.

Business coaching tools:

• Airtable | Airtable offers a customizable workplace with pre-built starter templates. You could build a custom coaching practice management system here, as needed.
• Align | Align is a strategic planning tool for business coaches and clients. Among other things, it emphasizes organizational alignment. Nice dashboard.
• ClickUp | A newer Asana-like platform that can be used to customize your practice and/or create best practices for clients who use your coaching system.
• Ninety | Ninety is my pick for the best coaching tool. My clients love it, as it unifies them around a singular vision and plan. I run Ninety meetings using decks, too.
• Traction Tools | Traction is an EOS-focused tool used by many EOS Implementers. The emphasis is on streamlining processes and clarifying things for clients.

With enough customization, other non-coaching project-management platforms could be tailored to a business coaching practice. That might be worth another LinkedIn article.

Pro-tip: Take a few days and use each platform's free trial. See what you think.

Make sure the system works for you and not the other way around.

One Step Closer

Has this article been helpful?

I sincerely hope so. I'll be honest, it's been an undertaking to pull this information together! Doing so has provided me with clarity, though, and I have since made my own new business coaching decision. I hope this article provides you with at least some additional knowledge that will help you solidify your future business coaching path.

The business coaching industry is still young. There are millions of businesses that need a great coach, and I don't think the companies above need to worry about competition. Instead, my hope is we can align towards a common, greater good.

As business coaches, our goals are to:

• help business leaders and companies break-through and achieve lasting success
• help professionals work more effectively and live better, more fulfilling lives
• help contribute to a significant, positive impact in our communities

I'm 100% here for it, and I know you are, too.

If this article was helpful, I'd sincerely love to hear from you. Please feel free to connect with me on LinkedIn and shoot me a note. It will make my day.

Wishing you much happiness and success!

- Zack Swire

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