Transforming Lives LLC: A Sample Coaching Business Plan

Are you looking for a sample coaching business plan? Then you have come to the right place because we are going to share with you an example of a coaching business plan to enable you to craft your own business plan. This sample business plan is going to save a lot of your valuable time and money. Remember, there are also a lot of sample coaching business plans available on the Internet that you can refer to. 

The following sample coaching business plan for the fictional firm, “Transforming Lives LLC” is an example of what a coaching business plan might look like.

Let’s get started.

A Sample Coaching Business Plan

Transforming Lives LLC’s business plan consists of the following key components:

1. Executive Summary

Objectives

  • To acquire a personal premise for our business by October 2021.
  • To hire two certified life coaches by October 2021.
  • To acquire at least 100 clients by the end of December 2021.

Mission Statement

To provide life coaching, counseling, and guidance services to a diverse client base and transform their lives.

2. About Us

Transforming Lives LLC will operate in Las Vegas, Nevada, starting on June 01, 2021. Our business intends to provide the most effective solutions to the personal and professional problems of our clients. 

Transforming Lives LLC is a privately held C corporation owned in majority by its founder, Philip Cross. There are two other partners, including one public relation consultant, Jack Thompson and one attorney, Paul Schulman. Neither owns more than 20%, but both are active participants in management decisions.

3. Operating Location

We have one location—a 5,000 square-foot brick and mortar facility located in a suburban shopping center conveniently close to the downtown area. It includes a training and sales area, service department, and offices.

4. Services and Pricing

Transforming Lives LLC will provide life, career, and business coaching services. Clients will be charged on a per session or monthly basis. The price per session will be $100/hr whereas the company will charge $500 monthly if a client chooses a monthly pricing plan.

5. Target Market

The company will target individuals all across Las Vegas who need life, career, and business coaching services.

6. Competition

The company’s main competitors are:

Life Coaching Company – This company is an established coaching firm that has been operating for the past 10 years. It has a huge client base and is known for offering unique coaching facilities and affordable prices. 

Coaching for All Company – This company is well-reputed among the upper-class strata of the city and mainly targets businesspersons, professionals, and celebrities.

7. SWOT Analysis

Here’s an overview of our SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis:

Strengths

  • Affordable prices
  • Dynamic, innovative, and modern coaching techniques and strategies

Weaknesses

  • New to the Las Vegas’s coaching market
  • No clientele

Opportunities

  • Ever-increasing need for life coaches
  • Affordable and easy marketing strategies

Threats

  • Established coaching companies in the market with established clientele
  • Clients prefer experienced and established coaching companies

8. Marketing Plan & Strategy

We strive to build long-term relationships with clients, not single-transaction deals with customers. Our goal is to become their go-to coaching firm and make them understand the value of the relationship.

Our marketing plan consists of two phases. The first phase will be creating accounts on social media platforms that the target market most commonly uses. The second phase will be starting promotional campaigns such as rolling out promotional materials via our website, YouTube channel and email newsletters.

9. Financial Plan

Transforming Lives LLC will incur the following start-up costs:

  • Desk, chair and file cabinet
  • Fax machine, copier, telephone line
  • Computer with printer and Internet connection
  • Legal fees for business formation

Our total start-up cost is $23,000.

Projected Profit and Loss

Year 2021 – $3500

Year 2022 – $60,000

Year 2023 – $95,000

 

Projected Balance Sheet

Year 2021

Total Assets – $24,000

Total Liabilities – $20,000

Year 2022

Total Assets – $40,000

Total Liabilities –$26,000

Year 2023

Total Assets – $29,000

Total Liabilities – $15,000

Projected Cash Flow

Year 2021 – $22,000

Year 2022 – $39,000

Year 2023 – $30,000

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

How to Develop a Life Coach Marketing Plan

If you’re thinking about developing a marketing program for your coaching business, you need to begin with a life coach marketing plan. Some life coach marketing plans are short and to the point, others are hundreds of pages thick and cost thousands of dollars to produce.

Regardless of the scope of your marketing plan, you must keep in mind that it is a fluid document. Every business needs to have a well-structured plan that is based on thorough research, competitive positioning and attainable outcomes. Your plan should be the basis for your activities over the coming months. However, you should always be willing to enhance or redirect your plan based on what produces results.

Life Coach Marketing Plan Basics

The following are a few things that you should keep in mind when developing a life coach marketing plan

  • Market Research

Collect, organize, and write down data about the market that is currently buying the coaching product(s) or service(s) you will sell. Some areas to consider include:

  • Market trends, patterns, and dynamics
  • Customer’s taste and preference
  • Popular coaching products and services that are trending
  • Demand and supply
  • Competition in your coaching industry
  • The current state of the coaching industry

If you analyze all of the above, you’ll be able to create a good marketing plan.

  • Target Market

Once you’ve done a thorough market research, find a niche or target market for your coaching products or services and write a description about them.

  • Products/Services

When creating your coaching products or services, ask yourself these questions: How does your product relate to the market? What does your market need, what do they currently use, what do they desire above and beyond current use?

  • Competition

There is always competition in the coaching market, hence you need to develop a unique selling proposition, i.e., doing something different from your competitors to stand apart from the crowd.

  • Market Strategies

A marketing plan is all about promoting your life coaching business. You must write down all your promotion strategies and marketing strategies in your marketing plan. There are various strategies that you should consider:

  • Advertising – print media, radio, television, magazines
  • Networking – go where your market is, e.g., coaching seminars, events, or parties
  • Direct marketing – brochures, flyers, sales letters, newsletters
  • Website – blogs, videos, social media
  • Write articles, give advice and become known as a coaching expert

 

  • Pricing

From the information you’ve collected, determine the price of your products or services. Set a fair price according to market trends and what your target market is willing to pay.

  • Budget

Budgeting is very important in any marketing plan. A budget will decide what marketing strategies you can afford, how you can advertise your service, what you can do in house and what you need to outsource.

  • Marketing Goals

Define your marketing goals in your marketing plan. Marketing goals are your targets that you want to achieve. For example, as a life coach you want to gain 30 new clients per month, or you want to satisfy all of your old clients with your services. Goals can be anything, but you should work hard to achieve them.

  • Monitor Your Results

A life coach marketing plan is nothing without proper monitoring. You must analyze whether your strategies and plans are working or not. You have to decide whether your old plans are good enough to achieve your goals, or you have to create new ones.

By taking into account the above, you are in a much better position to promote and sell your coaching product or service. Successful coaches continually review the status of their campaigns against their set objectives. This ensures ongoing improvements to your marketing initiatives and helps with future planning.

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

 

Crafting a Business Plan for a Coaching Center

If you are planning to start a coaching center, a well thought out business plan for a coaching center can help determine whether your business has a chance of succeeding. And if you are looking for investors to invest in your business, your business plan must demonstrate whether it’s viable in the long run. A solid business plan construction entails deep expertise about the business, a thorough understanding of the industry, and the knowledge of how to start, operate, and grow a business. 

Crafting a Business Plan for a Coaching Center

What are the key aspects to consider when creating a business plan for a coaching center?

Here are some of the things to keep in mind when creating business plans for coaching centers.

1. Coaching qualifications

Coaching-specific knowledge, expertise, and experience are prerequisites of building an effective business plan for a coaching center. You have to demonstrate to your investors that you have coaching experience, or you have assembled a team that has enough experience. Moreover, your coaching credentials play a key role in convincing your investors that the business is in good hands.

2. Self-assessment

In business planning, self-assessment involves performing an analysis of one’s own goals, interests, skills, and experience. Before writing your business plan, ask yourself these questions:

  • “Am I ready to start and operate my own coaching center?”
  • “Is there a market for a coaching center in my area?”
  • Do I have the necessary capital or funds to start if investors do not invest?”
  • “What are the specific types of services my coaching center will offer?”
  • “Which niche should I choose if there is a lot of competition in the industry?”

3. Business plan components

Your knowledge and awareness about the key business plan components are also among the prerequisites of creating an effective business plan for a coaching center. Key business plan components include your business’s vision, objectives, mission, operating plan, market research on the industry and the competition, financial planning, and sales projections.

4. Detailed funding analysis

A business plan for a coaching center must also cover a detailed discussion about funding. You can include cost projections involving start-up and operating costs for the next 4 to 5 years. It is necessary to convince investors as they need assurance on how and where their money will be spent and what will be their return on investment. 

5. Executive summary

The final step is to write an executive summary consisting of one to two pages. An executive summary has the potential to convince your investors to read your whole business plan. Therefore, it must focus on and answer one question: “What makes your coaching center stand out from the crowd?” In a marketplace where being different means a better chance of surviving and getting funding, having a unique selling proposition is one of the most important things you can do for your coaching business.

6. Documentation

Once you are done with coming up with a narrative for your business, your business plan needs factual information that supports it. You need to include a well-structured appendix containing supporting documents in your business plan. For example, you can include market research data, resumes, and credentials of your key personnel, legal documents, and so on.

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

 

Is There Such a Thing as a Business Coach Business Plan?

If you are an executive or a business coach, you might not have thought about a business coach business plan, but you are going to need one, and you should do your best to make sure that you have one written before you start with your business. This is something that you need, no matter how you plan on going about your future with the business. 

Is There Such a Thing as a Business Coach Business Plan?

So, how do you create one? Here are a few things you need to do when writing a business plan.

Things to Consider When Crafting a Business Coach Business Plan

When creating business coach business plans, coaches need to consider the following things:

 

Vision & Mission

Firstly, you need to think, why are you starting your coaching business? What’s your vision for starting it? How are you different from other business coaches? You need to answer all these questions as they provide the foundation for your business and makes planning easier. Vision is basically a big picture of your dream which you aspire to achieve. You also need to define what your mission is. Ask yourself this question: “How will your coaching benefit businesses and executives and how passionate are you in bringing positive change to organizations?

 

Business Description

This section is meant to provide an overview of your business, including what your coaching practice does and how it is unique from others in the coaching industry. This description provides extensive details outlining your business.

 

Products & Services

In your business coach business plan, you are going to want to list the service or product that your business is going to provide, and how much you are going to be paid for it. 

 

Target Audience

Defining your target market may be a little difficult if you think your coaching services can be used by anyone, but it can be done. Simply putting “every organization on Earth” is not a practical target market. Whether your product or service can be used by everyone is not the key, it is who can afford and needs your product.

 

Market Research

Analyzing the competitive landscape is an important part of determining if you can succeed in business coaching. Find two or three competitors and evaluate them. What do they offer and where are they successful? Where is their main revenue coming from? What things do they lack that your business will provide?

 

Marketing Strategy

Figure out a strategy to be used to market your business coaching practice. For this, you require both online and offline marketing in the plan. Setting up a simple website is important. Don’t forget to include all the licenses and certifications that you possess an add testimonials of your clients. If you want people to contact you directly via the website, make sure to add an address to it.

 

Financing & Capital

Any good business plan needs to have a detailed look at finances. This means you need to take a realistic look at what your initial expenses will be along with ongoing costs of running your coaching practice. Once you have determined both your ongoing expenses and initial expenses then you can evaluate how much initial capital you will need and where you intend to get it, i.e., via angel investors, venture capital, self-financed or friends and family. If you are not familiar with financial statements, you may want to have an accountant help with this section.

 

A rock-solid business plan can help you get your business off to a good start. Take the time to create a complete and thorough business plan and you will be that much closer to achieving your goals in business coaching!

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.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

How Business Plan Coaching Works

In this article, we are going to share with you what a business plan is, why it is important, and how business plan coaching works. Whether you are going to start a coaching business or exploring ways to expand an existing one, a business plan is very important. It provides you greater clarity to all aspects of your business, from finance to marketing, and operations. 

How Business Plan Coaching Works

But first, what is a business plan for coaches?

A coaching business plan is a guide that tells you how to achieve your vision and mission in your business. In simple words, it is a comprehensive document that details the strategies to follow to achieve your goals. It gives you a roadmap and by following that, you can achieve your coaching business goals.

How Business Plan Coaching Works

A business plan is very important for every business. Whether you are going to build a coaching business as a company, or as an individual, a business plan is a must in both cases. Business plan coaching helps business owners in many ways:

  • The success and failure of small businesses directly depend on the proper utilization of financial assets. Creating a good financial plan is part of creating a business plan. And this can take entrepreneurs one step towards achieving success in their business.
  • A good business plan helps business owners decide whether they need new assets in their business or not. Assets can be anything like an office, a vehicle, or a laptop.
  • It helps them make sound decisions related to their business. A good business plan not only concentrates on financial matters, but also includes, human resource planning, equipment planning and utilization, management issues, and marketing strategies.
  • It is also important because it creates a roadmap to achieve their vision and mission.

What is a Business Plan Coach?

When you help others create a good business plan for their business, you are essentially doing business plan coaching. To become a coach who teaches others to create their business plans, follow these steps:

Step 1: Get Good Training

If you want to become a business plan coach, you must have a good knowledge of how business plan coaching works.

Step 2: Create a Business Plan

Before teaching other coaches how to create a business plan, you have to create a business plan for yourself.

Step 3: Set up an Office

This step is optional. If you want to set up an office for your coaching business, you need to have the required equipment or furniture for your office.

Step 4: Build a Website

In the modern world, everything is online, so building a good website is essential in growing your business.

Step 5: Create a Marketing Plan

A good marketing plan is a must if you want to succeed in the business plan coaching field.

These five simple steps will be enough to help you get your business up and running and teach others how to create winning business plans.

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

Business Plans for Coaches: All You Need to Know

You’ve probably come across this question many times: “What is the basic purpose of business plans for coaches?” Simply put, a life coaching business plan is a written document that provides you some strategies to improve your business performance and achieve your business goals. Business planning for coaches involves thinking deeply about key areas of your business, i.e., vision and mission, target market, marketing strategies, operations, and financial planning, and coming up with actionable strategies that would allow your business to flourish.

Business Plans for Coaches: All You Need to Know

By having a business plan, you can improve your business’s bottom line just by implementing a well-written plan. So, how do you write one? Let’s find out.

Business Plans for Coaches: What Do They Include?

Writing a business plan can be challenging, but to simplify the process, we have come up with some basic elements that you should include in your business plan.

Vision and Mission

The very first and basic thing about your business is the vision statement. This section describes the desired future position of your coaching business, i.e., the destination for your business. Next is the mission statement. This is a guiding light of how to get to the destination with short-term and long-term goals to achieve your vision. 

Business Type/Description

There are three types of business ownership structures you can choose when forming your business: sole proprietorship, partnership, or limited liability corporation. The first two types are almost the same, where owners keep all profits but are held liable for the business’s debts and other problems. Corporations protect the business’s principals from being held liable for its debts, debts, lawsuits, and other problems. Once you’ve chosen a business ownership structure, include details about the coaching services and products you sell along with their prices. 

Market Research

Here, elaborate on the specific niche(s) you cover, for example, mindset coaching, business coaching, empowerment coaching, health coaching, etc. Then, state your unique selling point that distinguishes you from other coaches. It would be best to include your strengths and weaknesses and compare them with your competitors’. You can also mention your competitors’ specific services and selling points in this section.

Marketing Plan

People need to know about your services, and for this purpose, you need a marketing strategy for your coaching business. How do you plan to advertise your business? Is it through a website, social media, or an email newsletter? Write down the marketing strategy and budgetary allocation for marketing.

Finances

Include some details about your budgets and sales forecasts in this section. You can create a spreadsheet about your financial plans, including how much money you will spend monthly and yearly. A sales forecast period can be monthly, quarterly, half-annually, or annually for a 3 to 5-year period.

Conclusion

Business plans for coaches play important roles in the success of a business. By coming up with a business plan and changing it as you see fit, your business will not remain stagnant, and you are able to continuously deliver good coaching services and products. 

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

Coaching Practice Business Plan & Its Key Components

A coaching practice business plan is a document that summarizes how you are going to operate your business and how it will succeed. In other words, it is a document stating your operational and financial aims and objectives for your coaching business. A business plan is like a GPS system that leads you to success with detailed visions and plans showing how you will realize your business objectives. It should be your first step when starting a coaching practice business as it will help your business grow, attract investors, and ensure you don’t lose focus.

Coaching Practice Business Plan & Its Key Components

Why do life coaches need a business plan?

Life coaches need a business plan for their coaching practice business just like other types of businesses as it will be:

  • A roadmap that tells you where you are right now and where you want to be in the future.
  • A guide to illustrate how you will enhance your revenue, access more resources and increase business assets.
  • A detailed report stating your plans for the growth and development of your coaching business. 

Key sections of a coaching practice business plan

Coaching practice business planning is an essential step to ensure the success of your coaching business. A carefully devised coaching practice business plan has the following key sections.

1. Executive Summary

An executive summary is a brief overview of a business’s goals and objectives. An effective executive summary is one that covers key aspects like:

  • A summary of your business’s goals and objectives
  • A solid analysis of the market and new opportunities for your business
  • Growth potential
  • A brief description of your coaching practice business services

2. Mission, vision, and goal

The mission is a statement that describes the purpose of your venture and how you are going to help people such as using different methods and coaching techniques to bring people towards a better, wealthier, healthier, and happier life. 

Vision is a statement that states where you want to be in the market in the future, for example, to be among the most trusted life coaches in the world.

The goal is a description of broader outcomes that you want to achieve in the future such as to reach the top position in the coaching industry in Florida.

3. Management team

The management team section contains profiles of your management team and illustrates how you are going to assemble quality management consisting of qualified and dedicated professionals to support your business operations. 

4. Market analysis and target market

This section provides a thorough analysis of the coaching market. It highlights key aspects like growth potential, new trends in the market, and potential new opportunities presented by the market. It also illustrates the target market that your business should focus on and capitalize on new opportunities. 

5. Marketing strategies

The market strategies section focuses on how you will deploy different marketing strategies to draw more clients to your business by presenting different offers and enticing promotional activities.

6. Financial planning

This section focuses on how to generate income and sales as well as operating capital to achieve your goals and objectives. It contains four important financial statements: the income statement, the balance sheet, the cash flow projection, and the statement of shareholders’ equity. It also includes a brief explanation and analysis of these four statements.

You can use a business plan throughout all stages of your coaching business to guide it towards success. While it may take some time and energy to come up with a business plan, in the end it will be well worth taking the time to get it done right.

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

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.

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Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community