Thinking of writing a business plan for life coaches? The Lean Canvas Method is an excellent way for creating one. It helps you focus on the most critical aspects of your business and identify where your clients are coming from and what they’re paying for. In this blog post, we’ll look at how to use this method to create a plan to help you grow your business.
The Lean Canvas Method Business Plan for Life Coaches
The Lean Canvas Method is a tool used to create a business plan for a new business or idea. It can also be used to develop a business plan for life coaches. It’s a simple way to organize your thoughts and make sure you are focusing on the right things when creating your plan. The Lean Canvas Method will help you answer the question, “What problem are you solving?” Here are the steps:
Problem
The problem is the thing that needs to be solved. The cause of this problem is the reason why. The effect of this problem is what happens when it isn’t solved, and the opportunity is how you can capitalize on it. A gap for your clients is where their pain points are not being addressed or fulfilled by other life coaches.
Solution
The solution to your problem is an actionable and repeatable way to help your clients solve their problems. It has a clear benefit, which is what the client will get from taking this action. The value proposition of your solution is how you are different from other solutions that are out there for this problem. The unique value proposition of your solution is why you are uniquely qualified to solve this client’s problem in the most effective way possible.
Unique Value Proposition
You’ve got to have a unique value proposition (UVP). It’s your promise to the client. The UVP is what will help you stand out from the competition, so it needs to be clear and concise.
Unfair Advantage
An unfair advantage is a competitive edge you have over your competitors. Your unfair advantage can be any advantage or a particular skill that makes you different from other companies in your industry, including:
- A unique selling proposition
- Strategic partnerships with influential people or organizations
- Clients who will not switch to competitors because of fear of loss of reputation, etc.
Client Relationships
Client relationships are the focus of the business. You are there to help people, and client relationships are critical to your ability. The client’s experience is your top priority, and you must ensure that it meets or exceeds their expectations in every interaction with you.
Revenue Streams
This section will be the most difficult to create because it’s the least straightforward. You’ll have to define your business model and how you intend to make money from it. This section should include:
- A description of your client relationships
- A description of the channels through which you’ll deliver your services
- A description of your unique value proposition for each channel
- An explanation or example of an unfair advantage that makes your channels more appealing than others in this area
Key Metrics
As a life coach, you must know your key metrics. Key metrics are your business’s most critical measurements and are used to measure progress and success. For example, if your business goal is to grow from coaching 20 clients per year to 50, then you’d be able to measure that growth by tracking how many clients you reach in a month or quarter. That number would be one of your key metrics: it shows how close you are to reaching your goal. Key metrics shouldn’t be vanity metrics and should show real progress towards specific goals that matter most to the business owner.
Conclusion
As you read through sample business plans for life coaches, it is essential to remember that a business plan is fluid. It should be constantly revised and updated based on the current market conditions. If you are having trouble with your business plan or need advice about starting your coaching practice, resources are always available for free on the Internet!
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
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