Coaching Business Plan

Having a business plan for life coaching is essential – every business needs one, and coaching businesses are no exception. To write a good business plan takes some time, research, and patience. It also helps to use a sample or a template. This gives you an idea of the format and the items that need to be included.

Make the Business Plan Your Own

Your life coaching business is unique – it may have many similarities with other life coaching businesses, but the simple fact that it is yours makes it unique. You should use a template, but what you include in each section should not be generic – it should be your words, your thoughts, your plans, and your goals.

The Vision Statement Section of a Business Plan

One of the most important section of a business plan for life coaching is the vision statement section. The vision statement paints a compelling picture of where the company will be in the future. It is generally a big picture item – a place where the business will be when it realizes its full potential and achieves its short-term and long-term goals.

Not creating a vision statement is like setting off in a ship without a rudder. It helps you move from task to task with a purpose. It helps describe how individual and organizational actions will achieve goals and ensure company success.

The Mission Statement Section of a Business Plan

The mission statement section of business plans for life coaching businesses define how they will accomplish their visions. It embodies the company’s values and commitment to achieving their goals. Mission statements are more short term than vision statements.

This will remind you, and any employees you may hire, why the company exists, and what will make it successful. The mission statement of a business plan for life coaching is a short sentence describing goals, functions, competitive advantages, markets, and philosophies.

Tips for Writing the Vision and Mission Statements for a Business Plan for Life Coaching

Here are a few general tips for writing the vision and mission statements of your business plan.

• Set aside some time. Don’t rush it.
• Use a template, but don’t copy from it. The template should only be used for reminders of what is needed, and for formatting.
• Brainstorm. If you can work with a few other entrepreneurs in a brainstorming session, especially those who have written a business plan, this will help you come up with more ideas. However, if it is only you, it is still possible to have a great brainstorming session if you take the time and have some patience.
• All words are important. Because the statement should be short and concise, all words matter. Pick your words carefully and don’t be afraid to revise. There’s no such thing as good writing, only good rewriting. Editing and rewriting gets it right!
• Think both short and long term. The mission statement of a business plan for life coaching is more short term, and the vision statement is more long term. Think about both when writing these sections.

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Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community