It is in your best interest to formalize and solidify your business structure right from the onset.  In a nutshell, the three basic ways you can set up your business from a legal standpoint are:

If you are considering becoming a coach one of the many decisions that you will have to make is to determine what type of a coach you want to be.  In other words, you will want to decide in what area you want to specialize.  Whether you are interested in family, business, careers, relationships, or work/life balance you will want to find an area that interests you and in which you will excel.
 

The job of a coach is to listen, ask questions, and encourage the client rather than to advise or give instructions.  As a coach you will be committed to your client’s needs as well as to your own personal growth.  It is important that you believe that all areas of your client’s life are integrated, including their relationships, careers, finances, and outside interests.  You should be of the firm belief that all areas of a client’s life should be addressed while they are on their way to achieving their goals.

Coaching is a process of helping individuals achieve success in relationships, careers, and life in general.  A coach is someone who works on a personal level with an individual to help them realize their goals and dreams.  A coach is very much like a consultant but the differences are very precise and distinct.  Where a consultant is likely to present individuals with the solution, the coach is there to ask the correct questions and point clients in the right direction for the answers.  Although the coaching method concentrates on coaching the individual the final outcome is a benefit to

So, you want to be a consultant, eh?

It can be a highly competitive, extraordinarily difficult, and frustratingly challenging business to be involved with at times, but the level of freedom and amount of experience in many facets of the business universe are a very positive trade off for all the hard work.  When handled correctly — and planned with care — a career as a consultant can yield much more financial and personal freedom for the professional.  

There are many items to consider before deciding to make the commitment of becoming a consultant.  When one embarks on the mission to participate in this career choice one should be clear that they are taking on many responsibilities that employees within a larger organization may take for granted.  Starting a consultancy is starting YOUR OWN BUSINESS.  

Once you decided that a career in consulting is right for you, there are a few things you can take care of from the get go to ensure a smooth transition into the world of professional consultancy.