Having a signed coaching services agreement with each of your clients is the most important document you should use as a coach or mentor. To stand out from the crowd, many professional coaches have taken courses and graduated from accredited training programs. The Fair Termination Code for Small Businesses provides small businesses with a process to follow if they need to fire an employee. Experienced business owners, mentors, teachers and people with similar skills now provide advice and assistance in establishing new businesses for a fee. In Australia, life coaching is not regulated and anyone can call themselves a life coach, personal coach, business coach, professional coach, mentor, holistic health coach, etc.
If this industry is regulated, business owners will have more trust in coaches and know that their advice will be useful. To maintain these credentials and stay up-to-date, these training programs require their graduates to take continuing education courses. Regulation and accreditation mean that business coaches must meet certain standards. It is important to include intellectual property protection clauses in your training services contract so that your customer knows that your training materials belong to them and should not be shared, published, or used without your authorization. New entrepreneurs, some of whom may have little experience in their careers, are setting up their companies with the help of mentors or experienced business advisors.
Coaches can't rely solely on what they consider high-quality services, ensuring that business owners don't waste their money. You'll also have the opportunity to network in a community of inspiring like-minded entrepreneurs, make new friends and establish business partnerships as you build your business. Without proper regulation or accreditation, the business coaching industry cannot have a stellar reputation.