Every week I get at least one call from current business coaches as well as what I call "franchise refugees," people who lost much of their life savings to a coaching franchise. Once they figured out that they were locked into years of royalties, territory restrictions, and other constraints — including what many refer to as lightweight content — they try to get out of their contract, or wait patiently until it, along with their non-compete, expires.
This week, here is what one such refugee told me: "I was so sick and tired of coaching tiny mom and pop businesses. They never have any money for coaching."
His aspiration is to coach larger businesses, and — now that he is free of the franchise — he is doing the right things to do just that. In fact, he has already signed up an $80 million engineering company as a client. He is working with the CEO and executive team on meaty issues like strategy, developing up and coming leaders, and continuing to grow the business into the $100 million mark.
Similarly, I worked this week with two coaches who are moving up the food chain, too. Now they are coaching a major regional accounting firm, helping the top 40-45 partners reduce turnover and show associates how to get better at developing business.
There is a huge opening in the marketing for business coaches and advisers who can handle businesses in the $5 million to $150 million range. These businesses and their executives are just waking up to the benefits of coaching, and there are lots of them! I also like working with emerging growth companies that might not have any revenues, but that are well-funded and poised to break out.
You can do the same, if you have the tools and execuitve presence. I can't give you the executive presence, but I can give you the tools, processes, methodologies, and training to get into this market.
You don't have to coach tiny mom and pops! Why would you? Leave that to the franchise refugees and the coaches without the proper training or aspirations.