A Five Step Coaching Business Plan

Starting a coaching business seems like a piece of cake – take a coaching course, get a business license, open an office, and hang out a sign stating that you are a coach. Well, that is basically the plan when starting a coaching practice, but there’s much more to it than that if you want to be a successful coach.

 

The Three “P’s” to Starting a Business

Before I give you a step for step plan for starting a coaching business, let’s discuss the three “P’s” of starting any type of business – patience, perseverance, and persistence.

Patience – businesses take time to grow and become established. Don’t give up if early marketing efforts fail or you run into a few roadblocks.

Perseverance – stay steady in your course of action and stay strong in the face of obstacles as you work toward establishing yourself as a coach.

Persistence – believe in yourself and that belief will provide you with rewards (coaching income!).

If you understand patience, perseverance, and persistent – and they are all closely related – you are ready for the step for step plan for starting a coaching business.

A Step for Step Plan for Starting a Coaching Business

A State of Mind. Your first step doesn’t really involve taking any action toward establishing your business; it involves getting your mind right before you begin. You have to be mentally prepared for both good times and bad. You need to understand that the learning curve for coaching can be lengthy as experience and continuing education are important components of great coaching. Once your mind is right, you are ready.

What Do You Want To Be? This is all about discovering what type of coach you want to be – life, health, wealth, executive, or something else. What type of experience do you have? What is your passion? You have to know what segment of coaching your wish to pursue before you begin.

Who Do You Want To Be? Once you have selected a segment of the industry, you should think about your niche. Do you want to coach a specific target market? Do you have experience which will allow you to offer outcomes for a specific type of individual? Being a big fish in a smaller pond improves your chances for success.

Who Do You Want To Be – Part 2? Coaches who get the most recognition often have a brand. This can be a tagline, a logo, a motto, or just a specific way they advertise their services. This brand should be used across all media – on your website, business cards, social media pages, books, DVDs, and any other marketing materials or products you produce.

Get Your Message Out To The World. You need to attract followers, and you do this not be selling, but by giving away information for free. Yes – for free! Marketing through email is perfect for this. You can create an email list by giving away some valuable information for free – through your website, periodic emails, or email newsletters. Giving valuable information away for free through email, social media, public speaking, or any other method will eventually turn into paying clients.

Ask And You Will Receive. Once you have built a large list of email and social media followers, you need to ask them for feedback. What are their main goals? What are their most annoying frustrations? What are their experiences with coaches? What do they want? How bad do they want it! This feedback will form the foundation of your coaching practice – use it to structure your sessions and to create products that will bring in additional income.

Patience, Perseverance, And Persistence Has Paid Off! Since you took the time to set up your business and build a core group of followers by following a step for step plan for starting a coaching business, your practice has a head start toward the success finish line.

By the way… you’re invited to claim your FREE step-by-step “Master Coach Blueprint” video toolkit. Just go HERE now to get your master coach blueprint videos.

FREE Video Course: How To Build a High Paying Coaching Business

Comments

  1. James says

    This is quite helpful in creating a business plan. I will share this to my friends who are in need of improving their business plan.

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