Why You Need a Coaching Business Plan

Don’t think you need a coaching business plan? Well, if you aren’t planning on becoming a coach, then no, you don’t need one. But, everyone who wants to become a self-employed coach must have a coach business plan.

Coaching Business Plan

What is a Coaching Business Plan?

A business plan is a guide that is designed to provide a road map from the starting point of a business to any number of different desired destinations. It doesn’t need to be a long., formal document; it’s not some formal college thesis you are forced to write. You only need an extremely detailed, formal document if you are seeking investors and funding. Most coaches don’t seek out investors – so a brief, yet organized, comprehensive, and concise document will do the trick!

A Business Plan Template

Here’s what you need to include in a coaching business plan:

  • Values – what is important to you and what will be important to your business. What difference do you want to make?
  • Outcomes – what desired outcomes do you expect. What are the desired goals of your coaching business? This includes financial or income goals.
  • Niche – what type of coach do you want to be? Where is the intersection of your passion, the needs of the market, and your ability to provide outcomes to your clients?
  • Target market – where is there a need for your services? Identify the type of client or group of clients with whom you work well.
  • Competition – who will you be competing with? Is there room for you as a coach in your particular location. Identify your competitors, how much they charge, what they offer, and how they promote their practices.
  • Promotion – create a beginning marketing plan. Identify the ways you will market and promote to attract and retain clients.
  • Administration – include all administrative items – licenses, certifications, business tax permits, software requirements, accounting needs, and more.

At the end of the coaching business plan, you should include a SWOT analysis. This is where you identify in outline, and easy-to-read form:

  • S. – Strengths (your skills, knowledge, contacts, competitive edge, etc.)
  • W. – Weaknesses (lack of finances, lack of experience, etc.)
  • O. – Opportunities (lack of competition, large untapped target market, etc.)
  • T. – Threats (economic conditions, competition, high cost to start, etc.)

Why Do You Need a Coaching Business Plan?

If you need funding and are seeking investors, it’s obvious why you need a business plan. But for most coaches, the reasons may be a bit less obvious. But, you do need one!

Here are the main reasons that coaches need a business plan:

  • Writing a plan forces you to review your business concept, organization, and goals all at once.
  • You will force yourself to think about marketing and promotion right away. Some coaches ignore this one nasty detail – you have to market and promote to survive!
  • You will be able to monitor progress toward your business goals.
  • You will have a handy reference guide to refer to as you conduct business.
  • The coaching business plan forces you to act. If you’ve set a goal of 20 clients in six months and you haven’t reached that goal – you may be motivated to work harder with marketing. It provides you with details on your goals and how to reach them!

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10 Simple Strategies On How To Get Coaching Clients

If you are looking at how to get coaching clients, there are many time-tested ways to attract clients to your coaching practice. Most of the techniques on how to get coaching clients are fairly simple.

 

However, simple doesn’t mean easy. Marketing for coaching clients requires plenty of work, research, and patience. It’s not easy – but it doesn’t have to be complicated, too!

Get Coaching Clients…for a Price?

There is plenty of information on the Internet about getting coaching clients. There are plenty of coaches and marketers willing to provide you with this information…for a price. But, before you shell out some of your hard-earned cash, look for the free information…including in this article. You will find plenty of valuable information…from the basics (which you will find right here in this article) to more detailed information on specific methods on how to get coaching clients.

Before you pay for the information…find it free online. If what you find doesn’t offer enough information, then look for information that is reasonably priced and has good reviews to back it up.

How to Get Coaching Clients – the Basics

Here are 11 simple techniques on how to get coach clients. These methods are just the basics, but the basics provide you with a starting point when trying to get your coaching practice off the ground and running.

  1. Referrals – from family, friends, other coaches, and business peers.
  2. The old school way – directly contacting prospects, by phone, in person, by e-mail.
  3. Going to networking events, business groups, industry conferences, and more.
  4. Creating a network with other professionals in your area. You offer referrals to them and they offer referrals to you.
  5. Speaking engagements – offer to speak at local business or community group meetings.
  6. Providing online classes through various websites.
  7. Providing webinars for free to potential clients – make sure to offer valuable and unique information.
  8. Article writing. You can write for your own blog or guest write for other blogs. There are many places to post articles online – articles provide you with recognition and a place where you can present yourself as an expert in a particular area of coaching.
  9. Social media marketing – this is new school marketing. Learn how to use Facebook, Twitter, and other social sites to brand yourself and get your name out to your target market.
  10. Seminars – give seminars for free or for a price. Make sure to offer plenty of valuable information. Make the seminars fun and informative.
  11. BONUS STRATEGY: Trade shows. There are many different trade shows where you can rent a booth, speak, or just network to get your name out to many potential clients.

There is no one strategy that works better than another – every coaching practice is unique due to geography, expertise, experience, and target market. It’s up to you to find which ones work best. It is usually a combination of several of these that provide the best results.

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 Life Coaching Business Blueprint to get it FREE.

Your Life Coach Marketing Starter Kit

This short article isn’t going to sell you a coach marketing starter kit – it’s going to give you the basics on how to start your marketing plan for your coach business.

 

You can probably put together you own coach marketing starter kit by taking classes through an accredited coaching program, reading a few books on marketing, and perusing the Internet for some valuable information on the best way for a coach to get started with marketing and promotion.

But, if you want to buy a coach marketing starter kit after reading this, there are some good coaching programs that help you get your business going.

Your Coach Marketing Starter Kit Starts With Some Questions

Before you begin to market and promote your business, in fact, before you even start your coaching practice, you should ask yourself some questions. It’s even a good idea to write the questions down, read them, think about them carefully, and then write the answers down. It’s like giving yourself a test!

Here are some basic questions to ask yourself – questions that should be included with any coaching marketing starter kit:

  • Who do you want to be as a coach?
  • What kind of coach do you want to be?
  • What clients to you want to coach?
  • What impact do you want to have on these clients?
  • What benefits do you wish to receive from coaching?
  • Do you want to be a part-time or full-time coach?
  • Do you have the financial and time capabilities to start coaching full-time?
  • What outcomes can you offer clients?
  • What experience can you bring to the table?
  • What type of monthly/yearly income do you want to make?
  • Do you know how to use email and social media to promote your business?
  • What is the average fee you need to charge to reach your monthly/yearly income targets?
  • Are you willing to create additional products – books, DVDs, webinars, and more – to create additional streams of income?
  • Where do you see yourself as a coach in 5, 10, 15 years?

Seems like a long test, doesn’t it? Well, starting a business is a big deal, and you need to be prepared. It isn’t easy to get a business off the ground and running smoothly – the more you know about what you want, how you plan to get what you want, and what you can offer clients, the more likely your coaching business will be a success.

Coaching is Not a One-Size Fits All Business

Most businesses are not one-size fits all – business success depends on many factors. The first factor is you! You have to lay the groundwork for success by being prepared, knowing what it takes to start a business in your area, knowing who you are as a coach, and making sure you take care of all the legal and administrative issues before you open your door to clients.

The Necessary Evil of Marketing

Most people hate to market – they don’t like to cold call, hype their services, or hand their business card to everyone they meet. It would be nice if you could purchase a starter kit that did it all for you, but you’ll have to step up and do the work. To be successful in business, you must market!

The digital revolution has made marketing just a bit easier. Any good coach marketing starter kit would include the best ways to market through email and social media. You don’t have to cold call anyone – you just have to know how to use email and social media to your advantage.

A good coach marketing starter kit will assist coaches on all types of marketing, both traditional and online, and there are many to choose from:

  • Mailings/direct mail
  • Email newsletters
  • Website and article marketing to bring people to your website
  • Facebook ads/Google ads
  • Community groups – volunteering your services
  • Public speaking to community groups
  • Advertising in various media – radio, newspaper, TV.
  • Videos on YouTube
  • Offer seminars/webinars, online classes/sessions, and more.

Whether you buy a coaching program or make your own coach marketing starter kit, you need to know the best ways to set up and promote your coaching business. You can be the best coach in the world, but if you can’t attract clients, no one will ever know how good you really are!

By the way… you’re invited to claim your FREE step-by-step “ 30-Days to Become a Coach” video toolkit. Just go HERE now to get your 30-day coaching blueprint videos.

What Business Skills do You Need to Acquire to be a Great Life Coach?

What business skills do you need to acquire to be a great life coach? If you are asking this question, you must be looking to enter a great field with incredible opportunities for success. But, anyone asking the question, what skills do you need to acquire to be a great life coach, must know that life coaching is a business, and to make it, you have to have plenty of business savvy!

 

Being a Life Coach Entrepreneur

Some life coaches work in the business, while others work on their business – there is a big difference! Working in the business is virtually the same as any other job. Working on your business means you are an entrepreneur – a business owner.

A life coach entrepreneur works on their life coach skills and their business skills. They acquire new ones through experience, education, and effort! The more life coach skills they have – the better coach they’ll be. The more business skills they have – the better entrepreneur they’ll be!

What Business Skills do You Need to Acquire to be a Great Life Coach?

There are so many skills you need to be a great life coach that it is impossible to list them all in one small article. Many of them you have from life experience, some you learn in a good coaching program, and others you acquire as you gain experience working with clients.

So – what skills do you need to acquire to be a great life coach? Here are just a few of the ones you need, but a few very important ones!

6 Essential Skills to be a Successful Life Coach and Business Owner

  • Focus – this is the ability to concentrate all your attention on a particular task until it is completed. Many people are well-intentioned when they begin a task, but they lose focus and their concentration drifts. A successful entrepreneur needs laser-like focus.
  • Organization – can you turn chaos into order? Most business owners will face complete chaos at times, and their ability to be calm and collected, and turn that chaos into order will often dictate how well their business does.
  • Innovation – are you creative, flexible, and agile? You better be when you own a business. It also helps if you want to be a great coach. The ability to be innovative in your coaching sessions and you promotional plans can help set you apart from the competition.
  • Discipline – every business owner knows that discipline is important, but never every business owner can stay disciplined in all aspects of their business. The more disciplined you can be in finances, marketing, and coaching clients, the more likely you will become a great life coach.
  • Discrimination – can you determine what is important and what is less important? Are you able to prioritize? The ability to choose where, when, and on what to focus your attention is vital in business.
  • Communication – this one makes everyone’s list for a reason. The ability to transmit ideas with precision, clarity of purpose, and passion will separate you from the crowd.

So – what skills do you need to acquire to be a great life coach? Start with these six and you’ll be on your way to a great career!

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

Your Coaching Business Plan – Take Your Coaching Career To The Next Level

How do you write a great life coaching business plan? There are a billion resources detailing how to write goals or take your coaching career to the next level, most of which are fine, but what you really need is to give yourself time to focus on your life coaching business plan. If you are serious about making this year a turning point in your coaching career, here a few tips that will help make a difference no matter what strategy you choose.

You Need 24 Hours Dedicated to Working on Your Life Coaching Business Plan

The most important life coaching business plan tip is to give yourself a full day to plan. Not just an hour. Not even half a day. Smaller time blocks can be easily wiped off the face of the planet with a small emergency. An afternoon can also be easily whittled down to a half hour of scattered thoughts. That’s not going to give you a quality future for your coaching career. Give yourself 24 hours.

Create Your Life Coaching Business Plan in a Different Environment Away From the Usual Distractions

The other key aspect to making the most out of your life coaching business plan time is to get away from your usual environment. Get away from your usual distractions and conversations. Creating a powerful life coaching business plan that is powerful enough to take your coaching career to the next level is going to take focus. Daily distractions like the internet and the phone take away from your focus; and that’s power that is lost.

In your usual environment you think about how you usually think. If you want to take your coaching career to the next level, the same thinking that got you where you are will not get you to the next level. If you create your life coaching business plan in your home or usual workplace, you’ll tend to repeat what happened in the past. So get yourself to a different place. Find a nice area outside your usual town, even if it’s only a half hour away. Find a place to stay the night. Maybe drive to a bed and breakfast or campground. Go to sleep somewhere else and when you wake up start your day.

If You Give Yourself 24 Hours and Distance From the Norm This Can be the Best Year of Your Coaching Career

You’ll be amazed at the power that getting some distance from all the things that usually stop you can have on developing a powerful life coaching business plan. Give yourself this gift. Set yourself up to make powerful changes in your coaching career by creating an optimal planning environment. And have a very happy new year!

SPECIAL BONUS — If 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 my coaching business video course. Click HERE to get it FREE.

Colette Seymann
JTS Advisors Bi-Designated Strategy and Accountability Coach

Format For Your Coaching Business Plan

Are you starting a coaching business and wondering about your business plan format? Or, do you even know what a business plan is?

 

If you didn’t even think about a business plan before starting your business – stop right now. Don’t do anything else until you create a business plan.

Why Do I Need a Business Plan?

Since you asked, I’ll tell you. In fact, I’ll give you 5 good reasons to create a business plan.

  • To avoid setting up a business based on emotions. If you write it down, you will be able to see it in black and white. What may seem like a great idea when it is floating around in your head, may not seem so great when you put it on paper.
  • To develop a game plan. When you start a business, there are specific steps you need to take to get the business off on the right foot. You not only need to have a business plan format, you also need to have a business format. You have to set priorities, establish a few goals, create ways to measure performance, and delineate the proper steps to making your business legal (corporation, business licenses, filings, etc.)
  • To make sure you have enough money and time. Many coaches start their businesses on the side. Do you have the time to do it right? Do you have the money to take classes, get certified, open an office, furnish that office, and market for clients. These steps should be researched, and the results of your research should be included in your business plan.
  • To forecast and predict. No one knows what the future will hold, but forecasting how your business will do and how much money you can make is important. You will be using hypothetical numbers, but you can use different scenarios and numbers to paint a picture of the future.
  • To have an outline to which you can refer. Your business plan will contain all the information about your business – type, address, licenses, partners, employees, assets, goals, plans, and more. The plan can be used as reference material for the life of your business. It is the Declaration of Independence or the Constitution of your business.

Does Your Business Plan Format Matter?

In a word – no. The format of your business plan is completely up to you. The only part of your business plan format that really matters is that it is inclusive and covers all aspects of your business. If you think something is unimportant, think again…and again. Your business plan should be concise, but it doesn’t have to be brief.

An Easy Business Plan Format Outline

Here is a brief business plan format outline that is perfect for simple business – and most coaching practices are fairly simple in structure.

  • Company summary – this is who you are, what you do, and how you will be doing it.
  • Products and services – this is where you describe the type of coach you are and your niche if you have one.
  • Target market – this goes hand in hand with the previous section and briefly describes the type of client you are seeking.
  • What you can offer the clients – this details the outcomes you can provide your clients, the skills you have, and the knowledge you possess.
  • Marketing and promotion – this describes ways you will market and how they will be financed.
  • Administration and Legalities – this is an addition to the company summary. This is where you detail business licenses, fees, and other administrative expenses (with specific dates for payments and filings).
  • Funding – most coaches don’t need to raise capital or seek funding when they start their business, but if you do, this needs to be a very detailed section.

That’s a very simple business plan format that will work for most entrepreneurial coaches – it’s a basic, step-by-step plan to create a successful coaching practice. However, there are many business plan formats that work – the right one for you just needs to be detailed and comprehensive, and make sense to you!

By the way… you’re invited to claim your FREE step-by-step “ Life Coach Salary Secrets” video toolkit. Just go HERE now to get your Life Coach Salary Secrets

Coaching Business Plan: Successful Targeted Marketing

A good coaching business plan will contain a section on targeted marketing. To be successful, you need to clearly define your target market and how you plan to market your services to them. Clearly identifying your target market will help focus your marketing efforts and save time and money over the long term.

Successful Targeted Marketing – © apalebluedot.co.za

Define a Target Market in Your Coaching Business Plan

Coaching is a competitive business and there are many niches in which you can elect to focus. To be successful as a coach, you need to clearly define your target market and get to know the people to whom you wish to sell your products.

You should do plenty of research on your potential buying audience. Your target market could be millions, or if you focus on a narrow niche, it could be much smaller. You should define the gender, age range, income level, marital status, and more for your potential customers. The motivations and inspirations for purchasing your services or products should also be clearly listed and defined.

As you create a comprehensive coaching business plan, you should also learn as much as possible about your target market, including:

  • The motivations behind their needs and wants.
  • What would make them choose your coaching business to satisfy their needs.
  • The purchase habits of this group.
  • Future potential changes in this market
  • The scope of your target market – local, national, international.

Focus Your Marketing Efforts for Maximum Efficiency

Targeted marketing is the act of focusing your marketing efforts toward the preferences, habits, and needs of your defined target market. You merely use the demographic and habit information to create a successful marketing plan.

By outlining your marketing in a coach business plan, you can then use the plan as a handy reference guide in the future. Your defined target market and your initial marketing efforts toward that market can also be changed and adapted as your business grows and matures.

Targeted Marketing Saves Time and Money

Your coaching business plan is a vital resource for your business. It helps to guide you as you make decisions, and it offers reminders on who you are, what values you possess, and the goals of your business. But, if you have written a comprehensive section on marketing, it can also save you money.

Promotional messages and ads can be sent to only those individuals who fall within your target market. Though the digital age has made marketing easier to do, it still takes time and costs money to mass market. When you narrow your focus and target certain groups, your marketing is much more efficient and effective. It can also save you time and money, both of which can then be used in other ways to build up your coaching practice.

A comprehensive coaching business plan is a necessity for anyone starting out as a coach. There are many reasons it helps you achieve success; one of the most important reasons is to detail your marketing and promotional plans. When you include a definition of your target market, and potential ways to market to this group, you are creating a great resource that you can use to make your business a success.

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Successful Productive Coaching Business Plan

If you want to have a successful coaching business, you need to create a successful and productive coaching business plan. It’s tough to compete if you don’t have a plan!

What’s a Business Plan?

Every business needs a plan, and a coaching practice is no exception. Before you hang out your shingle and start coaching, you need to create a detailed plan of how your business will be run.

In the simplest terms, a business plan is a guide – it’s like a treasure map that outlines the ways for you to reach your goals and dreams in your business – to find and grab your treasure! Your coaching business plan needs to detail how the business will be set up and how it will be operated. It should cover the personnel, the finances, the marketing, the administration, and anything else that is critical to the successful operation of your coaching practice.

Should a Coaching Business Plan be a Long Boring Document?

If you’re starting up a multinational corporation, your document is probably going to be over fifty pages – it’s going to be filled with legalese and details. However, a coaching business plan can be much, much shorter. As long as you include the basics, you’ll be fine

There are many places online where you can find information on how to create a business plan. You can also find templates that will make it even easier.

How to Make a Coach Business Plan Successful and Productive

To take your business plan one step further, you should include ways to attract clients. After all, you can be a fantastic coach, but if you don’t have any clients, you’ll never get the chance to show how good you are!

Coaches are made, not born. Sure, some people are probably born with qualities that give them just a bit of an edge at the beginning. But, no one is born a great coach. Coaches become great through education, experience, mentoring, and effort.

Since coaches are made, it also follows that coaching practices are made. To help make they great, you need to follow a plan. If you have a plan on how to attract clients and become a better coach, this will make it easier. So – coaches, your business plan should have information on ways to attract clients and to improve your coaching skills.

Coaches Need Mentors

Many business plans will have ways to get clients – advertising, networking, cold-calling, websites, social media. Business plans will also have details about education and skill improvement. This is great, but most coaching business plans lack one critical component in the pursuit of excellence.

What is it that your coaching business plan needs to stand above most of the others?

Mentors! That’s right – mentors! Coaches get better, good coaches become great, and great coaches become even greater when they work with mentors. Your coaching business plan should include details about how you will seek out and work with mentors to improve your skills.

You obviously know the value of mentoring – you are a coach, or thinking of becoming a coach, and you know how valuable coaching is. If it’s valuable for your clients – guess what? It is just a valuable to you!

If you combine your successful promotional techniques (methods detailed in your business plan) with improved skills gained through education, experience, and mentors, you are on the way to finding that pot of gold (coaching income) listed on your treasure map.

Coaches – Don’t Forget to Include Mentors on Your Business Plan

When creating a coaching business plan that is successful and productive, don’t forget to include everything you need to become a better coach. One of the most overlooked items is mentoring – if you remember to include it, and then follow your plan, you’ll have an advantage on the competition!

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

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.