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Identify a Home Based Business and Evaluate its Pros and Cons (Essay Sample)


Identify a home based business and evaluate its pros and cons


Accessing a Career in Business
Nowadays, many people are considering starting a home based business, and for good reasons. Individuals who are exiting their careers often find their second or third career move being to their home. According to Walker (2003), home based businesses are gaining popularity owing to their flexibility, convenience and ease of starting as well as presenting an opportunity to start a new career. Curtis (2007) explains that starting a home based business requires one to consider the following aspect. First, develop a concept before quitting the current job focusing on the type of goods or services you intend to offer to the customers. Second, develop the working area and thirdly source the necessary labor if need be. Also, do your research and consider your sources of finance. In addition, cover your basis and finally foresee the future. Business coaching is a home based form of business that presents a significant personal career.
Business coaches are individuals professionally trained to offer support to growing ventures (Shaw & Linnecar, 2007). This is a form of human resources that provides support, give feedback and advice individuals and groups to improve the efficiency of a person in running a business. Some experts also refer to this form of business as an executive, corporate or leadership coaching. This is a field of individuals who strive to excel and value enterprising activities. Metzler (2014) further describe these people as entrepreneurs who work hard to accomplish and succeed in what they set their mark.
As a business coach, an individual is charged with the following duties and responsibilities. Grodzki & Allen (2005) explain that coach helps small business managers to focus on the bigger picture of their ventures as well as their lives. This facilitates their growth and development by understanding where they want to be in the future. Coaches are also charged with guiding the business owners in enhancing their skills as well as logical capability (Dervad & Bremer, 2012). These skills may range from general planning skills, marketing, and promotional skills to financial skills. Additionally business coaches assist in linking the managers with other professionals and institutions that can help in tackling technical problems related to the business. Dervad & Bremer (2012) identify that the links may involve lawyers, engineers and IT experts.
Another important responsibility of a business coach is listening to the challenges facing businesses and helps them to set goals (Grodzki & Allen, 2005). They also help in developing goals and targets and formulating a plan to implement the business objectives. Coaches also play a critical role in motivating business managers and assist them in building their self-confidence. In addition, coaches help businesses in identifying new business opportunities and develop strategies to aggressively respond to them, ensure that members of staff are encouraged and motivated, ensure that customer satisfaction is met and make sure that the business model is maintained for the duration specified. Most importantly, business trainers assist in developing strategies to build on new customer base and creating methods to make more profits.
Leimon et al. (2005) expound that business coaching requires an individual to have a varied education background. Nearly all thriving business coaches have accumulated and varied expertise and experience in the business tenets. It is clear from Mr. Prinya Kehavivatcharatkul bio that he had a mix of education background in video production, computer graphic design and animation. Specialization needed in business coaching revolves around business-related courses such as marketing and finance, business economics, sales, business mathematics as well as business commerce. Training in this area can be obtained by attending private coaching schools or undertaking a graduate degree certificate. Shaw & Linnecar (2007) claim that executive coaching requires a graduate program either in psychology or business and a certification course in management, supervision, communication as well as guidance and job environment presentation. Individuals aiming to become business coaches need to obtain certifications in associate, professional and master levels. The certifications are provided by the International Coach Federation (ICF) that is mandated to provide the necessary certificates and recommendation services to registered members (Walker, 2003).
According to Metzler (2014), the career path taken to be a business coach is long, challenging but present a whole range of learning experiences as well. Becoming an affluent business coach requires intensive studying and years of accumulating massive work experience relating to your areas of interest. The most fundamental step in becoming a business coach is by acquiring the necessary education required depending on the profession you want to coach. The next phase involves working the sector within your field of study and the area you intend to coach. Metzler (2014) explains that it takes time for one to gain experience and mentorship in the work environment. Mr. Prinya once worked as a mail delivery man during his time. It is clarified by Shaw & Linnecar (2007) that it should take approximately six to twelve years working in the area you want to train. This helps in gaining substantial experience and creating a clientele network too.
A business coach deals with CEOs and the corporate owners of the firm (Metzler, 2014). The interaction happens as you advise them on how to develop and enlarge their business markets. It is evident from Mr. Prinya’s story that he met many people and interviewed many celebrities and made from too when he was doing video production. Therefore, ensure that you develop outstanding communication skills in the process of your studies and during your working period. Also, remember that business coaching is more than being an entrepreneur. You need to promote your ideas by using your word of mouth. The extent to which you spread your message and how well your strategies are determines the rate of growth of your business. Better business strategies and policies that are persuasive to intended clients will lead to more executives hiring you.
It is also undeniable that a business coach career path also requires attending social events, seminars, and inductions as well as workshops to learn more outside the scope of your education and expand your experiences (Derval & Bremer, 2012). Successful coaching needs to realize the importance of technology which is making access to information easier than before. Metzler (2014) also warns that a coach needs to understand that clients may be reading the same information you intend to present to them. Therefore, there is need to develop smartness in the career growth process. Development of the business will require time and patience to allow space for growth of the practice as well as acquiring more skills and experience. It took Mr. Prinya time before he had the chance to purchase the coffee shop from his boss.
According to Vorley & Rodgers (2012), business coaching is becoming familiar with students showing interest in the career. The approximate income depends on the level of experience where beginners from one to two years make $25000 to $35000. Those who have been in practice for about five years make on average $ 35000 to $75000 (Vorley & Rodgers, 2012). More experienced coaches earn more than the stipulated figures, but it also depends on the field of specialization. The future of this practice is promising as more enterprises are outsourcing more information relating to their sectors. These ventures aim at improving their efficiency to succeed and spread out hence the need for business trainers.

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