A leadership coach is great for those people who are in leadership positions, or who want to be, and need some extra advice on how to lead. An executive coach is great for those people who have already achieved a tremendous amount, and now need a little extra support as they survive in a management position. But what about those entrepreneurs who are just starting off? Is there anyone who can help offer you support if you have nothing more than idea? There sure is, and it’s called a business development coach.
Most coaches will turn you down if you actually have a business yet. If you tell them you have an idea for a product, they might say good for you, but chances are they won’t take you on as a client. They want to help people get on their way, but only if they’ve already come part of the way themselves.
But there is support for those entrepreneurs who have an idea or an invention and want to take it to market. A development coach will work with you whatever stage you’re at to take your idea to whatever stage you want it to be at. From a self-evaluation to creating a prototype to marketing and selling your product, they will be with you at every step of the way.
The first step in the process is to determine if your idea is marketable. Does it solve a problem or meet a need or want? Would people buy your product? Who would be your target audience? To figure out the answers to your questions, a business development coach will help you through the process of concept evaluation – finding people to test your product and adapting it to their feedback.
From there, you will guidance on how to develop a prototype, or a working model of your product that will allow people to get a real feel for what you had in mind. Then again, you will have to go through the process of getting potential future customers’ feedback.
One of the more difficult tasks facing entrepreneurs is where and how to get the funding they need for their idea. Everything from market research to prototype development to marketing will require more money than you think. But your coach will have suggestions about leads you could follow or resources you could tap into.
Once the product research and market evaluation has been completed, a business development coach will help you take your product to the shelves! How do you create a marketing plan? How much should you price your product for? How do you officially launch your product? What will be your sales strategy? Your coach won’t answer these questions for you, but they’ll help you answer them for yourself. After all, it’s your baby, so don’t you want to see it come to life on your own? This is in fact the most exciting part, and the part that makes all the planning and hard work worthwhile.
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