Just Health LLC: A Sample Health Coaching Business Plan

Below you will find a sample health coaching business plan you can use as a springboard to help you get started on organizing your own plan.

Just Health LLC: A Sample Health Coaching Business Plan

Sample health coaching business plans are a great resource to explore if you want to set up your own business in this niche.

A Sample Health Coaching Business Plan

Executive Summary

  1. Just Health is a health and fitness coaching program designed for people with physical health restrictions.
  2. Just Health provides low-cost, specialized workouts.
  3. Just Health provides easy meal recipes for specific diet needs.
  4. Founder has experience in this area due to her own health conditions.
  5. There is a big market for health and wellness, but not much of it focuses on those with specific health needs or restrictions.
  6. The business will be easily accessible from the home.

Company Description

Just Health, LLC was founded by Minnie Steelworth in 2021 when she realized, due to her own health needs, that there was a need for easily accessible health coaching programs specifically formatted for individuals with physical health restrictions. It provides easy, from anywhere access to health coaches and recipes customized to fit the individual’s physical and eating needs and/or restrictions.

The company strives to create a space where those with health conditions or restrictions can find customized exercises and recipes to help them live a healthy, high quality life on a low budget.

Industry Analysis

According to the Centers for Disease Control and Prevention, 1 in 4 people in the United States are living with a disability. Out of that group, 13.7% are specifically living with a physical disability. 

Statista Research Department published data in February 2021 showing that 87.4 million people in the United States used a health and fitness app in the year 2020. 

Evidence shows health and fitness apps are a popular way people work on their health goals. With the amount of people with smartphones or smart devices and the continuing development of technology, it stands to reason that they will continue to be popular. And with the number of individuals with physical disabilities in the United States alone, there is a clear need for a quality app they can access for their unique health and fitness needs and goals.

Products & Services 

  1. App-customizable with health goals, check-ins with a health coach.
  2. Pre-recorded exercise videos specific to different physical limitations.
  3. Live, one-on-one sessions with a personal health coach.
  4. Wide range of recipes for specific diet needs.
  5. Exercise and clothing merchandise.

Marketing Plan

  1. Start with social media and a website.
  2. Advertise outside medical facilities.
  3. Subscription incentives.
  4. 30-day free trial (with limitations)

Operational Plan

  • Timeline
  • Find personnel to create a quality app.
  • App creation (up to 3 months with testing).
  • Hire trainers to create exercise videos.
  • Hire dieticians for recipe creation.
  • Create a product sample.
  • Create a website.
  • Upload content to the app.
  • Make app accessible to the public and start marketing.
  • Create and sell merchandise.

 

  • Legal Needs
  • Make sure health coaches and dieticians are certified professionals.
  • Copyright the app and its contents.

 

  • Staff
  • Start with 2 dieticians and 5 health coaches.
  • Expand staff over time.

Financial Plan

  • Expenses – Research for competitive prices
  • Creating app
  • Marketing
  • Paying health coaches
  • Paying dieticians
  • Creating merchandise
  • Income
  • Subscriptions
  • Merchandise
  • Web hosting advertisements for other businesses

Conclusion

Having reviewed a sample health coaching business plan, you can be aware of what you need to include in your own business plan for it to be thorough, and a thorough, written-out plan will lead to starting a business with a strong foundation.

Would you like an endless stream of new coaching clients? Simply click the image to the right and email and I’ll send you free videos with step-by-step blueprints for generating a massive income from high paying coaching clients.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

 

Life Coaching Business Blueprint: Be an Entrepreneur

Are you a life coach who is looking to craft a life coaching business blueprint? To create a profitable and fulfilling career as a coach, you need to learn how to be an entrepreneur. 

Life Coaching Business Blueprint: Be an Entrepreneur

There has never been a better time in history to start your life coaching business, no matter how small it is. With many countries still facing new waves of Covid-19, there’s a growing hunger in the marketplace for personalized, trustworthy, practical and heart-centered life coaching advice. A highly skilled and passionate life coach can play an important role in assisting people to navigate crucial life’s challenges with confidence.

But, the path to building a successful life coaching business is another matter and you need a perfect life coaching business blueprint to realize your dreams. Here’s how you can build your coaching blueprint

Life Coaching Business Blueprint Rule #1: Avoid These Mistakes

A whopping 80% of new businesses fail in their first year. Of those that are left, 50% fail within the next two to five years. Do not let this happen to you. As a coach, you need to avoid the following three basic missteps that can kill your business dreams, taking your confidence and your money with them.

  • Choosing the wrong coaching niche

When you choose the wrong path, you never reach your destination. People fail to search their souls and find out what exactly embodies their full potential and self-expression. You need to choose a coaching niche that uniquely synchronizes with who you are so that you can inject passion and authenticity into your work.

  • Letting fear block your way

When you let fears like failure, inadequacy, mediocrity, etc. block your way, you cannot work freely and enthusiastically. Fear hinders your progress and you need to break the shackles of fear to realize your dreams.

  • Unable to create a vision and strategy

When you don’t have the vision to guide you, you’d probably end up somewhere else. Before making big decisions, set a powerful vision for your coaching business. Then, create a viable plan or strategy that is grounded in that vision. Vision and strategies are the key elements to driving your business to success.

Life Coaching Business Blueprint Rule #2: What You Have to Do

Now that you’ve learned the three mistakes that can hinder the success of your coaching business, here are three things you need to do when crafting your life coach blueprint.

  • Choose the right niche

In order to choose the right coaching niche, find your passions, strengths, unique value, your unique personality, and style. Dive deep into your soul and find all those precious pearls in the depths of your soul. Base your business around those priceless pearls and let them do their magic. 

  • Accept but manage your fear

When you can’t get rid of your fears, embrace them but turn your fears into your strengths. Develop a new and empowering attitude to subdue your fears and don’t ever let them get in your way.

  • Create a realistic vision and develop strategies accordingly

Create a compelling vision for your life coaching business to form solid foundations of a viable strategic plan. Let your business be inspired and guided by a compelling vision.

The Wrap Up

Your life coaching business blueprint needs to be impactful enough to guide you through each stage of starting and managing your business. Don’t wait and don’t hesitate because now is the time to create one. Take the necessary steps to start a business and be an entrepreneur. What you have to do is avoid making the three mistakes and focus on what you have to do.

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

Writing the Financial Part of Life Coach Business Plans

While many components of life coach business plans can easily be crafted, the financial section can be quite burdensome, as it requires some financial know-how. In this article, we explore how you can write the financial section of a life coach business plan.

Writing the Financial Part of Life Coach Business Plans

Life Coach Business Plans: How to Write the Financial Section 

The financial part is a key point of any business plan. Therefore, it must be written with a lot of attention. This makes it possible to convince investors who will be reading the business plan.

Thus, it is important to take note of certain points before starting the financial part. You must keep a clear objective in mind, which is to convince investors to fund your life coaching startup.

1. The four main financial sections

Normally, a good life coach business plan should include four sections that will highlight the finances of the company. Investors may be reluctant to commit to a project that lacks one of these sections. Specifically, the following will need to be considered:

The projected income statement: The coaching company’s projected profit and loss will be shown in this statement. This concerns the income as well as the expenses that the company will incur to function properly. When writing this section, you’re not providing actual data, but a financial forecast about the financial stats of the future.

Cash flow statement: This statement summarizes the net cash flow of the business for each month. In other words, your business’s cash inflows and outflows. A cash flow statement shows your company’s ability to meet monetary commitments on a timely basis.

The balance sheet: This statement is a snapshot of what your business owns (assets) and owes (liabilities), as well as the amount invested by shareholders. A balance sheet indicates the capital needs of a business and helps identify the allocation of resources and how much financing is needed.

The projected financing plan: A comparison between the existing financial resources and the extra funding needed will be highlighted in this table. In this section, stress the profitability of the business and why your business needs financing.

2. Meeting the expectations of the readers

The second step towards writing the financial section of a life coach business plan is ensuring that each section mentioned earlier meets the expectations and requirements of the readers. Different readers, for example, an angel investor, a venture capitalist or a banking institution, may have different requirements. So, find out what they need before crafting your financial plan.

3. Write honestly while remaining realistic 

Many business owners writing their business plans tend to think that inflating the numbers in the financial part will help them get a lot of financing. It is important to know that this can create an unfavorable situation for you and your company. Consequently, investors will not take the risk of validating the file or supporting the business since they will have difficulty trusting the figures.

Finally, always use “What-if” scenarios when projecting your financials and coming up with future plans. This would increase transparency and help the investor to understand the best, expected, and worst sides of your coaching business.

Special Bonus – Learn 32 ‘Guru’ Transformation Techniques when you click on the image at the top right. You’ll learn how to become a life coach in 30 days.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Top 10 Steps to Developing a Coaching Business Plan

Being a coach can be one of the most rewarding career choices, but one of the first things that you will need to take care of when starting your business is developing a coaching business plan. The process of writing a business plan can be tedious and annoying, especially when you don’t know where to start. As such, in this article, we will be guiding you on how you can easily develop a coaching business plan.

Top 10 Steps to Developing a Coaching Business Plan

Why Develop a Coaching Business Plan?

A business plan will mainly allow you to have an idea of the viability of your coaching business, solicit investors and obtain a loan from a bank. Concretely, the plan is made of two parts: 

  • Your project: Who, What, Where, How, Why
  • The financial part: Your income and your estimated expenses

By developing a coaching business plan, you will be able to assess your needs and resources as well as devise strategies that’ll help you achieve your business goals.

10 Key Steps to Developing a Coaching Business Plan

There are several key steps to writing a business plan. The steps may vary depending on the type of coaching business you intend to launch. Following these ‘10 Key Steps to Developing a Business Plan’ will give you a general idea and help the process run smoothly.

Step. 1: Products and services

Your first step towards developing a coaching business plan is to describe your various services, to whom you offer them, why and what benefits they will derive. To do this, it is recommended to draw a table, as it will be more convenient especially if you have several offers.

Step 2: The target market 

Once you have determined the product and services you plan to offer, write down a detailed description of the market you want to target.

Step 3: Competition 

It is a well-known fact that you will always encounter competition in business. As such, it is essential for you to look for and list your competitors. In general, your competitors can be divided into two categories:

Direct – Those who offer the same service as you 

Indirect – Those who offer a service that your clients consider identical to yours. 

For example, you can compete directly with a coaching firm and indirectly with an author who has written a book on your subject. 

Make a list of your top 5 competitors and study the following:

  • Their type of business proposal 
  • How much they charge 
  • How they charge 
  • Their strengths and weaknesses 
  • The type of marketing they use 

Then, think of at least 5 things that differentiate you and would allow you to attract more clients.

Step 4: SWOT analysis 

The SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis is a strategic analysis tool that concerns a particular area of activity. For example, if you want to create a consulting, training & coaching company, you will have to do this analysis for each of the areas: advice, training, and finally coaching.

You’re going to have to think about:

  • Internal strengths of your future coaching activity 
  • Internal weaknesses in this area 
  • External opportunities available to you 
  • External threats that exist 

Step 5: Positioning 

With the information you have gathered on competition and SWOT analysis, you will now determine your positioning by answering the following questions: 

  • How will you take advantage of the weaknesses of your competitors? 
  • What are the 5 reasons why someone would want to become your client instead of one of your competitors?
  • Why are you the best person for this job? 
  • What skills, abilities, and experiences are you offering your clients that they cannot find elsewhere? 
  • How can you focus on the value you bring?

Step 6: The marketing strategy 

Explain and develop the ways you will use to find, convince and win your clients. You probably won’t have a completely clear idea right from the start, so put in place a framework that will allow you to establish a fruitful marketing strategy.

Step 7: The financial plan 

Developing a coaching plan also means that you will have to estimate your expenses and revenues per year over the next 3 years. 

Step 8: The emergency plan 

While it is always a good idea to be positive, anticipating certain setbacks can be helpful when the time comes. List what could happen and what solutions you could put in place to solve the problem. 

Step 9: Your biography 

A short biography of you and your work will go a long way in ensuring the credibility of your coaching business plan.

Step 10: The summary 

The last step of developing a coaching business plan is to be able to draw a summary of the 9 previous steps, which will provide you with the ability to determine: 

  • Why your company should exist
  • The products and services offered
  • Your target market
  • Your business goals and objectives and how you plan to achieve them

This part, once written, will serve as an introduction to your business plan.

Would you like an endless stream of new coaching clients? Simply click the image to the right and email and I’ll send you free videos with step-by-step blueprints for generating a massive income from high paying coaching clients.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

How to Start a Small Business Coaching Business Plans

Are you looking for How to Start a Small Business Coaching business plans? In this article we will go through the important elements of a How to Start a Small Business Coaching business plan.

How to Start a Small Business Coaching Business Plans

But first, let’s define what a business plan is. Simply put, a business plan is a written document that contains the future plan of your business. That includes key aspects of the business, what you plan to do and how you plan to do it.

Business plans are critical for any business and very helpful for both business owners and those who read it. The main reason for creating a business plan is to display your business idea, vision and plan to potential investors. Getting someone to invest in your company is difficult, in fact it is difficult even to convince them to set up a meeting with you. A business plan is the first thing you need to send investors to convince them to set up that meeting with you. Additionally, business plans are also used for attracting new employees, estimating the future of the business, dealing with suppliers, and simply to have a good overview over the business.

How to Start a Small Business Coaching Business Plans – Things to Consider

To write an impressive small business coaching business plan, you need to understand what a good business plan content is. There are three different parts to a good business plan:

The business concept. The business concept is the first part of the small business coaching business plan. Here you discuss your business structure, the coaching industry, your coaching service or product, and how you will turn your business into a success.

The marketplace section. The marketplace section is the second part of your business plan. Here you’ll describe your target group, who your target group is, where it is, why they would buy from you, and so on. Furthermore, you’ll go in depth with the market situation, the competition and how your small business coaching will be positioned in the market.

The financial section. The third part is the financial section. This will be the numbers section, where you turn your idea into numbers and estimations. Here you will show your budgeted income and cash-flow statement, balance sheet and other financial ratios.

To break these three primary parts even more down, there are seven key components that all How to Start a Small Business Coaching business plans must include. These are:

1. The Executive Summary
2. Your Business Description
3. Your Market Strategy
4. An analysis of the competition
5. Your Business Development Plan
6. Management and Operations Plan
7. Financial Statements

Typically, a business plan is somewhere between 15 to 20 pages. It can, however, be shorter or longer than that. The length will depend on your business concept. Maybe you are planning to start a very simple small business coaching business that doesn’t need a lot of explaining. Alternatively, you could be starting a complex business that needs a lot of pages to fully be explained.

There are also many types of business plans – working plans, mini plans, and presentation plans. A working plan is simply a tool you can use to operate your coaching business. A mini plan is a shorter version of your actual business plan which highlights key matters like business concept, financing needs, marketing plan and financial statements. Meanwhile, a presentation plan stresses on good design and impression as it is used to show to bankers, investors and others outside the company.

With this basic guideline, you now have a better idea of what to include in a small business coaching business plan to make a convincing statement and proposition to the potential investors.

If you’d like to learn how you can get started in Wellness Coaching quickly, check out this FREE step-by-step “Life Coaching Business Blueprint” video toolkit. Just go HERE now to get your life coaching business blueprint videos.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Creating a Step by Step Coaching Plan

Before effective coaching can take place, a step by step coaching plan must be established. Rather than you writing a plan, both you and the person you’re coaching need to jointly identify a set of goals and activities. This ensures that both parties will be invested in the plan’s success and move you away from the coach/client relationship and towards the peer-to-peer relationship of coaching.

Creating a Step by Step Coaching Plan

Understanding Your Client’s Coaching Needs

Coaching focuses on developing, not “fixing” the person being coached. It is a fluid relationship that can be initiated by either the person who sees an opportunity to help (the coach) or by the person looking for help (the coachee). 

One of the keys to successful coaching is the ability to foster self-motivation. This requires a coach who understands the elements of motivation and de-motivation in their coachees and their impact on behaviours. Creating a coaching plan can help establish clear expectations that are communicated well and supported with timely oversight.

A Step by Step Coaching Plan

Regardless of whether you’re coaching an executive who aims to excel at work or an individual who is facing a midlife crisis, formalizing a step by step coaching plan is useful. When goals and expectations are clearly defined in the coaching plan, your coachees are given the tools to perform above their previous potential. Here’s how you can develop your step by step coaching plan:

  1. Set the tone. If you’re initiating the relationship, know that coaching isn’t a sign that the coachee is lacking in some skill or doing something wrong. In fact, coaching means that you see hidden potential in the coachee and are invested in their success.
  2. Establish the goals. You and your coachee must set the goals for the relationship. As the coach in the relationship, you have two responsibilities in goal setting. One is to identify the goals you would like to see the coachee achieve. The other responsibility is to solicit from the coachee what goals they want to work toward. Without your active solicitation, you may end up being the only person setting the goals, which moves you back to the coach/client relationship.
  3. Set responsibilities. The two of you must then decide how you can help each other develop. As a coach, you have an additional responsibility beyond what you agree to in this part of the plan. You must also model the desired behaviors you want to see—you must “walk your talk.” If you don’t model the behaviour you want to help develop, then your credibility and your effectiveness as a coach are diminished.
  4. Define the process. At a minimum, the two of you must decide when, where and how often you’ll meet to check in with each other. One caveat: coaching isn’t about friendship. You can be friendly, but coaching is about improving performance. As part of deciding how you’ll work together, you must also decide how you’ll address conflict or disagreement.
  5. Acknowledge the results you will get. You’ll probably learn a great deal from the coaching relationship. Make sure that you acknowledge the benefits that you expect to get. For instance, being able to have “difficult” conversations (conversations that include constructive criticism) is an invaluable skill. If you intend to develop that skill as part of this coaching relationship, point out that you will be using this opportunity to practice in a safe environment.
  6. Establish benchmarks. The plan must include clear “measures of progress” or benchmarks and a schedule of when those measures will be met. Benchmarks provide both of you with markers to determine how well things are progressing. However, be aware that not reaching the benchmarks isn’t a sign of failure—it just means that things might need to be adjusted or course correction may be needed.
  7. Review the relationship. When looking at a course correction or a major achievement, take the time to assess if the coaching relationship should continue. If you decide to discontinue the formal coaching relationship, be sure to debrief both the work you did together and how the coaching experience played out for each of you.

As successful coaching collaborations grow and thrive, your work becomes more productive and less stressful—knowing that all your coachees are being given the tools and following your step by step coaching plan to take things to the next level. Ultimately, your role as a coach is to create individuals with improved skills who can thrive in life or at work.

Special Bonus – Learn 32 ‘Guru’ Transformation Techniques when you click on the image at the top right. You’ll learn how to become a life coach in 30 days.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Coaching Institute Business Planning Tips for Success

If you are planning to start a coaching institute, proper coaching institute business planning can not only save you from a lot of headaches in the beginning but can also mean the difference between a successful coaching institute versus a monetary disaster waiting to happen.

Coaching Institute Business Planning Tips for Success

Top 10 Tips for Coaching Institute Business Planning

Here are ten tips to guide you along the way as you begin your coaching institute business planning. Remember, success depends on many factors and the most important factor is your determination and energy you put into making your coaching institute a success!

Step 1: Ask Yourself Why?

Why do you want to get into the coaching education business? It is because you would enjoy working with people and coaching them or is it because you think it is an easy way to make money quick?

Running a coaching institute is a demanding business and can require lots of planning and development in terms of coming up with fresh interesting lessons and people skills.

Step 2: Study Your Competition

It does no good to enter a market where there already exist established, credible coaching institutes for a particular coaching niche. Clients want to know they have a dependable coaching institute that meets their needs and often will not change coaches once they get good results. Just because you start a coaching institute does not mean they will come.

Use your local Chamber of Commerce, the Internet and even Facebook groups to find out what coaching institutes exist in your area. If you want to specialize in a specific coaching niche, find out who your competitors are in your region. There may be none in your state, or there could be five down the street.

Step 3: Assess your Financial Situation

Starting a coaching institute can require a lot of upfront capital and expenditures before you even see one cent of income. Do you have the resources to spend on setting up a coaching institute at the right location? Do you have the money to invest in e-coaching systems?

Be sure to look past the startup costs as well. Employees, taxes, property rental and insurance are just a few of the things you will need to factor in as ongoing costs.

Step 4: The Business Plan

A solid business plan is the foundation of any business. You need to come up with a good coaching institute business plan and spell out what you intend to do and how you intend to get it done. Not only will banks require this for financing, but often other investors you deal with will want to see it as well. It should be the guidelines that you follow every day in your coaching institute to achieve the goals you have set forth.

For this part, it is often wise to work with a business lawyer or seek professional advice from business consulting services. A good resource to help you find people in your area with the necessary skills and background is the Small Business Administration government site.

Step 5: Apply for Licenses and Other Necessary Paperwork

Nothing is as certain as death and taxes. It is no different in the coaching business. As a business owner, you will be required to pay taxes and other fees to your state and to the federal government.

Be sure to get his part right because one wrong mistake can end up costing you not only money, but possible your entire business.

Step 6: Establish Your Facilities

Businesses must exist somewhere and like most things in life, there are rules and regulations on where they can be. Will you be having clients coming to your location at certain hours? Or do clients have the option to attend online coaching sessions? What about electrical, water and sewage needs?

To find a suitable location for your coaching institute, work with commercial real-estate agencies or seek recommendations from friends or family who might be able to point you to the right location.

Step 7: Establish Your Relationships

You have the facilities, you have the finance, now do you have anyone helping you out with your website or coaching content for your website? Work with other coaches, writers or web developers and build strong relationships with them.

In addition, relationships extend beyond your clients and business associates. It is good practice to establish relations with your local Chamber of Commerce, retail associations and labor organizations in your area.

Step 8: Marketing

How can you build relationships or expand on existing ones? You can use your website, blog, or social media to market your coaching institute to existing or potential clients. Publish useful and relevant coaching-related content on these avenues. 

Marketing works hand in hand with building a relationship and maintaining it.

Step 9: Servicing Your Clients

Delivering coaching courses or lessons to your clients, answering questions about your coaching services, and working with your staff to develop new product lines are demanding parts of the business.

This is where back end systems come into play by maintaining records and logs of all activity with your clients and staff. Do not underestimate the value of a good customer relationship management or human resource system.

Step 10: Employees, Finances and Other Administrative Matters

Once everything is up and running, your next focus is administrative matters. Employees need to be hired and payroll needs to be met. Money must come in and money must go out. Get the help of an accountant if you do not possess them already.

One oversight can mean the loss of hundreds of thousands of dollars; a missed payroll deadline could mean your entire business comes to a halt. It is critical that you constantly keep an eye on the books and on your expenditures. Most importantly, know when to tighten the belt, and know when to expand.

Special Bonus – Learn 3 simple ways to become a life coach with the “30-Days to Become a Coach” video toolkit when you fill in the form at the top right and click the “Watch The Videos Now” button. You’ll learn how to change your client’s life in 45 minutes.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

 

How to Write a Simple Coaching Business Plan

Think you have a great idea for a business and need to draft a simple coaching business plan? You’ve probably come across simple coaching business plans on the Internet but you may not have the time to read them all. The coaching business plan template presented here will get you started.

How to Write a Simple Coaching Business Plan

It outlines five most important sections of a business plan and can serve as the blueprint to help you write a simple coaching business plan.

Five Elements of a Simple Coaching Business Plan

Background 

In this section, you’ll want to compose a little story to tell people about your coaching business and what you offer. Ask yourself these questions:

  1. What need are you serving and why is it important to the world right now? 
  2. Is your coaching field growing or shrinking? Is the need for your service likely to grow or decline over the next 5-10 years? 
  3. What is your reach and what is the potential for your business in terms of numbers? 
  4. What is the profile of your most likely clients? Is it men, women,or children? What are their ages? 

After you’ve figured out the answers to the questions above, outline your personal qualifications, training and education that will support you in serving your clients. Also list any soft skills, coaching philosophies or beliefs you have that will help you serve your clients. This is the place to tell your readers what makes you great at what you do.

Vision and Mission

A vision is something that just gets you moving in the right direction. It may be so ambitious that you never actually get there, but it will lay out a path for you. A good vision is inspiring, focuses on serving the world, and is very ambitious. Try and develop a vision as you would like it if you could serve every single person who needs your coaching services. Capture what the world would be like if you could do this in simple 3-5 sentences. 

For example, “A world where every person is living their life to the fullest.”

A mission on the other hand is about your purpose and your part in changing it. Capture how you’ll serve people, and what your role in delivering the vision will be. 

For example, “Helping people discover their life potential and supporting them in making changes to bring this potential into the world.”

Marketing and Communication Plan

It’s essential that you give some thought as to how you’ll communicate your vision and mission to others. Instead of “marketing” your services, think of it as “sharing your message.” You already know that what you can offer your target market is of value and that it needs you. Write how you’ll communicate to those that need you most and how you’ll help them. Before you devise a marketing and communication plan, ask yourself these questions:

  1. Who needs to hear my message? What groups do I need to serve most?
  2. What do they need to hear from me?
  3. What is the best way to find and communicate with them? Do they communicate online? Or In person? Workshops, webinars, etc?
  4. When will you communicate with them? Will you reach out to them daily? Hold workshops once a month? Send out a weekly newsletter?
  5. How will you know if they have heard your message? 
  6. What will success look like? What are your marketing and sales goals or targets for this year and the coming two years?

Risks and Opportunities

Sometimes things might not go according to your plan, therefore it’s prudent to spend just a bit of time thinking about the areas that may go wrong and devise a corrective action plan or a Plan B to limit the damage.Likewise, it’s a good idea to think about any opportunities that you haven’t thought about yet so that you don’t miss any good ideas along the way. 

Financial Plan

Having an idea of what you need to make in terms of income to continue coaching others and help change their lives is essential to delivering your vision. And in this day and age, any business that is not growing or evolving is dying. There is no standing still! So this section details how you’ll sustain your financial viability, and how you’ll grow your business.

Special Bonus – Learn 3 simple ways to become a life coach with the “30-Days to Become a Coach” video toolkit when you fill in the form at the top right and click the “Watch The Videos Now” button. You’ll learn how to change your client’s life in 45 minutes.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

 

A Sample Business Plan for Life Coaching

Business plans guide you along the rocky journey of growing a coaching company and referencing a sample business plan for life coaching throughout your voyage will keep you on the path toward success.

A Sample Business Plan for Life Coaching

There are plenty of sample business plans for life coaches on the Internet but how do you actually write a viable and convincing business plan?

Let’s review a sample business plan for life coaching you can use to inspire your own.

A Sample Business Plan for Life Coaching: Youth Alive Corp

Executive Summary
Youth Alive is a new company providing high-level expertise in youth life coaching, channel development, distribution strategies, and marketing of coaching products. Its founders are certified life coaches. They are founding Youth Alive to formalize the coaching services they offer.

Initial focus will be development in the American market, or for clients in the Latin American market. As it grows it will take on people and coaching work in related markets, such as the United Kingdom market, and similar markets.

Mission
Youth Alive Corp offers students and young professionals reliable, high-quality life coaching services for personal development and career development on an international scale. We offer a very high level of practical coaching experience, know-how and confidentiality.

Company Ownership
Youth Alive Corp will be created as a Limited Company based in Florida, USA, owned by its
principal investors, Alice Smith and Melanie Adams.

Management Team
Alice Smith is the founder and owner of Youth Alive Corp. She will serve as the managing director, and is therefore responsible for all of the company’s operations as well as its chief fiduciary. Ms. Smith has spent her entire professional career in youth coaching and development.

Melanie Adams will serve as the company’s Program Director and will develop the company’s coaching programs. She will lead the learning sessions on-site and online. A native of Colombia, she is a dedicated, positive and outgoing life coach who has been extensively trained in youth development and education.

We will be hiring two course administrators, five full-time life coaches to conduct on-site or online coaching classes and workshops and two content developers to develop our website.

Start-up Summary
Total start-up expense (including legal fees, logo design, website development, stationery and related expenses) is $65,350. Start-up assets required include $130,000 in current assets (office furniture and equipment, course development,etc) and $100,000 in initial cash to handle the first few months of coaching operations as sales and accounts receivable come in.

Products and Services
Youth Alive offers youth coaching courses and workshops as well as the expertise an organization needs to develop new coaching products and services in new markets. This can be taken as high-level retainer coaching, project consulting, online workshops, coaching courses and publications and youth camps.

Market Analysis
Our most important group of potential clients are students, young professionals in larger corporations and organizations or universities interested in developing white-label coaching solutions.

There are thousands of coaching organizations and individual coaches for every one of the few dozen well-known companies in the United States.One of Youth Alive’s challenges will be establishing itself as a real coaching company, positioned as a relatively risk-free alternative.

The key element in purchase decisions made at the Youth Alive client level is trust in the professional reputation, track record and reliability of our company. Youth Alive positions itself as the most obvious choice in terms of service quality, price and convenience and this will be attractive to youths in the United States and Latin America.

Promotion
We intend to promote our organization and our unique value proposition on an ongoing basis via the following channels:

Internet marketing -This strategy consists of a well-designed, professional website that is informative, client-oriented and “sells” Youth Alive, reinforcing our value proposition of quality, price and convenience.

Open house sessions -Twice a year, we will host an “open house” and / or a “meet and greet” at select area locations where parents congregate and at our center. We will promote new youth coaching programs and give away free sample courses.

Financial Plan
The following is the projected profit and loss for the next three years. Detailed break even analysis, monthly projected cash flow numbers and projected balance sheet are included in the appendix.

Year Annual Profits
2021 $120,000
2022 $180,000
2023 $350,000

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Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

What is Not an Indicator of a Successful Business?

Many new entrepreneurs who start their own business fail to ask themselves these two pertinent questions: What is not an indicator of a successful business and what are some of most common mistakes new business owners make?

What is Not an Indicator of a Successful Business?

They do not realize how much work and time will be involved and as a result they become quickly overwhelmed.

At first, you will have to wear many different hats; you will be the CEO, the general manager, the accountant, the salesperson, the driver, the secretary, the receptionist. You must therefore prepare yourself because there will be moments when you are disappointed or frustrated. You have to realize that business success will not happen overnight. And it may take a year or two or even more before you achieve your expected results.
What is not an indicator of a successful business & how do you avoid it?
To avoid disappointments and build a successful business, here are some of the most common mistakes new entrepreneurs make and how you can deal with them:

Mistake # 1 – Failure to spend enough time understanding and researching the business idea to see if it’s viable
New entrepreneurs often fail because they are not truly interested in the business and are more interested in making money. It is important to start something that you’re good at, love and can serve a need, because you will be spending a lot of time on it. Therefore, spend all the time you need working on your business plan, which should include: your mission statement, your business strategy, research on your target market (demographics), industry analysis (size, economics, politics, trends, success factors, challenges, etc.), your marketing plan, and your financial projections.

Mistake # 2 – Failure to have products or services that add value
The most sustainable businesses, those that withstand the test of time, provide value by providing a product or service that people need. Make sure your products or services provide value to your clients and solve their problems. A great product is a very important indicator of a successful business.

Mistake # 3 – Failure to connect with professionals who can help you get started
Many new entrepreneurs often ask people who have never started a business for advice when starting a new business. So in reality, these people are not in a position to give sound advice. Get a mentor or two and surround yourself with experts who possess skills and expertise that you lack. They will probably be able to let you know what is not an indicator of a successful business and how to avoid it. Better still, team up with professionals who can complement your strengths and cover for your weaknesses.

Mistake # 4 – Underestimate financial requirements
Do you know how much capital you need to start your business and the operating expenses to keep it running? What is the number of clients you need or the price you need to charge to earn a profit? Do you know how long it will take before you earn your first profit or before you will run out of money? Invest the time to work on ALL financial aspects, especially the major ones, of your business before you start. There are many factors that make businesses a success, but a strong balance sheet is often an indicator of a successful business.

Mistake # 5 – Failure to make marketing a priority
Many new entrepreneurs start their business without determining their target market and demography and as a result have failed to attract any clients. Marketing should be one of your top priorities. Devise a marketing plan that will help you determine how to promote your products or services and create a system that will generate more clients for your business.Then, dedicate a good portion of your time and energy to working on and implementing the plan.

Mistake # 6 – Failure to follow-up with clients
New entrepreneurs spend too much time finding new clients that they neglect the clients they already have and end up losing business. Statistics show that it takes seven more interactions to secure a new client than to sell more to an existing client. So develop and maintain a follow-up system to offer new products or services to your clients and constantly and consistently communicate with your existing clients. It is essential to build a very special relationship with your most loyal clients. They are your best audience and don’t let them slip away!

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Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community