Business Plans for Life Coaches are Not Optional

Business plans for life coaches are essential founding documents – they are not optional! If you don’t create a business plan for your life coaching business, you are setting yourself up for failure – at the very least, you are positioning yourself to not be as successful as you could be!

Business Plans for Life Coaches

Business Plans for Life Coaches – Nonwarit Pruetisirirot © 123RF.com

Your Business Plan Should be Unique

Though you can find numerous templates and sample online, and it is advisable to use one of these templates to construct and organize your business plan, you should not just copy and paste. Samples are guides, and should only be used as guides. Even though life coaching businesses have many similarities, and life coaches do many of the same things, each one is unique – business plans should also be unique.

Why Every Life Coach Needs a Business Plan

Remember, business plans for life coaches are not optional – if you are a life coach, you need one before you venture into the field.

  • It helps you focus. If you spend the time to write something down, you will be more likely to focus on it as you move forward. Business plans for life coaches are the founding documents and will be used as references as long as the coaches are still practicing.
  • It helps you organize. If you take the time to write a comprehensive business plan, this will help you prioritize and organize as you get more experience and clients.
  • To map the future. A good plan can detail alternate futures and provide insight and information on action that may need to be taken when your business hits a fork in the road or an obstacle.
  • To identify and emphasize your values, vision, and mission. As your business experiences the roller coast ride that faces most companies, having your values, vision, and mission, identified and written down, is extraordinarily valuable. When times get tough, it’s always good to take a few moments and read about who you are as a coach and a business owner (this is what you write down when you create a business plan). A business plan for a life coach will keep you grounded and focused on what’s important!
  • To thoroughly identify your target market, competition, and ways to promote to your market. Promotion is the lifeblood of any business – you can’t be a great coach unless clients sign up for your coaching!

Business Plan for Life Coaches – No Excuses

There are a million reasons not to write a business plan for your life coaching business:

  • I’m too busy
  • It takes too long
  • I don’t know how to write one
  • I don’t need one – I already know what I’m doing
  • I’m a coaching genius

These are not reasons – they are excuses!

It can’t be emphasized enough – writing a business plan is not an option. Business plans for life coaches are integral parts of every coaching practice. They are the strong foundation on which a successful business is built. They are essential to the health and prosperity of every coaching business.

Give this strategy a try and see for yourself that it works. If you liked this coaching tip, leave a comment or use the handy bookmark buttons below to share it with others on Facebook, Twitter, Digg, etc. Thanks!

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

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