Your 30-Minute Business Plan for a Coaching Practice

Your 30-Minute Business Plan for a Coaching Practice

You’re probably asking yourself these two questions: Do I need a business plan for a coaching practice? What should I include in my business plan? Let’s answer the questions and within 30 minutes, try creating a mini business plan which you then can expand.

Your 30-Minute Business Plan for a Coaching Practice

Do I require a business plan for a coaching practice?

For most businesses, the answer to this question would be yes. For the majority of startups and ones which require investment by way of a loan or a business partner, a business plan is a must. Any potential investor will want to know, for example, your future growth projections before they invest in your business.

Below are the types of businesses which do not require a business plan:

· A business that is happy to stay as it is and has no plans to expand.

· A business that never has a need to take out a loan.

· A one-man business that is self-sufficient, without the need of any outside help.

These types of businesses are rare. Most businesses, including a coaching practice, therefore will require a business plan.

It is one thing being aware of your need to have a business plan. The problem is most people have no idea how to go about creating one.

A business plan for your coaching practice will show its readers all about your aims for your business and how you are going to reach these targets. You need to have a strategy firmly in place and know the direction you are going to take as well as the investments you are going to make in staff, equipment, and machinery before writing the plan. You also need to have business goals and an idea of when each target is likely to be met.

Apart from attracting people to invest in your idea and business, a business plan is also your sales copy in effect. Therefore, if you create a professional and solid business plan, people are more likely to take you seriously and invest.

On the other hand, if it is rushed or poorly written, you are unlikely to receive the backing you are looking for.

What should be included in my business plan?

People who read your business plan will not only want to know about your coaching practice, they will also want to know about you. Give them a brief summary of your history and what you have achieved in the past. Write down all of your ideas and sell the positive side of your character to them. The fact that you are really hardworking and that you thrive under pressure. You love a challenge and can not only work well as part of a team but also on your own.

Describe the market place that your coaching practice is a part of, the competition, and also the opportunities for growth in that market.

Give them financial figures including running costs, projected earnings, projected growth forecasts, and also any financial history your coaching practice might have had.

Show them that you are flexible and have a plan B if plan A does not come to fruition.

Sell them your ideas by telling them why you are setting up the business for example, and where you foresee it will be in five years’ time.

Include a mission statement explaining what you are attempting to achieve with your coaching practice.

I hope this information has given you an idea of how to write a successful business plan for coaching practice. Good luck!

To learn more about how to generate an endless wave of high paying coaching clients, get your 

FREE Instant Access to our “Life Coaching Business Blueprint” video toolkit when you go HERE.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Top Ten Reasons Businesses Hire A Business Plan Coach

Top Ten Reasons Businesses Hire A Business Plan Coach

Have you considered becoming a business plan coach? Jack Canfield, in The Success Principles, says a “coach is one of the best-kept secrets of the successful.” Although it is not mandatory for business owners to hire a business plan coach, if they are serious about taking their businesses to the next level, a business plan coach can help them realize their visions and goals.

Top Ten Reasons Businesses Hire A Business Plan Coach
1. A business plan coach can help business owners clarify their visions and goals. If what they are doing isn’t something they really want for their businesses but they don’t have a clear vision of what they want, then a coach can help them get clear.

2. A business plan coach can support business owners through their difficult times. Sometimes, business owners just need someone to talk to who isn’t too busy, too distracted or too involved to just objectively support them when times are tough. If they need someone to talk to who understands and doesn’t judge them, then a coach can help.

3. A business plan coach can help business owners develop momentum. There will be times when a business owner started a business, felt good about it but then lost interest. A business plan coach can help business owners craft a business plan that will sustain that momentum and keep them focused on the prize. This is similar to hiring a personal trainer to help one sustain the momentum of exercising when they feel like doing something else.

4. A business plan coach can help business owners stay on track and be focused. There will be times when the little, unimportant things take control of business owners’ days and by the time the day ends, they realize they haven’t accomplished anything they were hoping to accomplish. A coach can help them stay focused on the important things while learning to delegate or dump the unimportant things.

5. A business plan coach can help business owners take an objective look at exactly what they have been doing. A good coach would ask business owners to take a close, and sometimes painful, look at what they say they want as compared to the things they are actually doing. If business owners continue to do things the way they are, will they get to the place they are hoping to get to? Coaches ask the hard questions.

6. A business plan coach may help business owners identify both effective and destructive behavior patterns that they may not see. Since the coach isn’t standing in the forest, he can typically see the trees that business owners don’t. How often do business owners continue the same destructive patterns over and over again just because they can’t identify them? A coach will help them see this more clearly.

7. A business plan coach will hold business owners accountable for the goals they set. A coach is not a babysitter. When business owners decide they want to get going and accomplish some things in their businesses, a coach will not accept their excuses for why they weren’t done. Making a public declaration of their intent will also provide business owners with the needed incentive to keep their commitments.

8. A business plan coach can show business owners how to accomplish more by working less. Coaches are adept at teaching time-tested systems for being more productive. A business plan coach can help business owners be more productive in less time.

9. A business plan coach can help business owners discover their true passions. All business owners have unique abilities and a purpose but some of them never discover their passions and the rest who do are too afraid to just go for it! A business plan coach can help business owners uncover their passions—the things that will make them excited to get out of bed in the morning.

10. A business plan coach can help business owners identify their core business values and show them how they can do business in synergy with them. The values by which business owners conduct their businesses are very important to each of them. Many times, certain values they hold may be in conflict with each other. Sometimes, business owners are not even consciously aware of the values of importance to them. A business plan coach can help them to run their businesses in accordance with their values through a solid business plan. This will provide the kind of businesses of which business owners can be proud.

SPECIAL BONUSIf you would like step-by-step blueprints for generating a massive income from high paying coaching clients, I invite you to claim your FREE ACCESS to the “Life Coach Salary Secrets” video toolkit.  Go HERE to get it FREE.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

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