A Simple Business Plan Format for Life Coaches

We’ve put together this simple business plan format for anyone considering being a life coach. It is based on proven methods that have worked before, that will help you get your business started without forgetting any key steps. If you follow this format, you’ll be able to easily put together your own business plan for coaching with ease!

A Simple Business Plan Format for Life Coaches

What is your purpose?

Your purpose is what you want to achieve with your business. Why did you decide to be a coach? What do you want your coaching practice to achieve? If you can get really clear on what your purpose is, it will help inform everything else in your business: how it’s set up, how much money you want to make, how many clients you need. 

Start by brainstorming as many things as you can think of that describe why you wanted to start a coaching practice. (Or, ask friends and family if they have any ideas.) Write down every word that comes to mind—no matter how big or small it may seem! For example: Don’t just look at your list—process each word and idea so you better understand why you started a business in the first place. Which words represent something important about who you are and what inspires you?

Who are you serving?

It’s important to think about your target market, or who you are serving to determine how much of a demand there is for your coaching services. If you live in a small town and your target audience is people within 15 miles of you, it might be tough to generate enough business. Whereas if you have an online presence that can reach hundreds of miles away then you can reach a wider audience. Understanding who your clients will be will help you better serve them.

Where will you serve?

Write down a few potential locations you’d like to serve and what your services will entail. If none of them sound good, write down three needs that people in your area might have that you could help fulfill (and then, later, write a business plan to make it happen). You don’t need to limit yourself geographically. Maybe there are a few niches where your specialty would be particularly valuable. Think outside of geographic borders if necessary!

How will you serve?

Once you have your business idea, it’s time to start sketching out how you will go about providing value to clients. But, before you begin filling in these blanks, ask yourself a few questions: Who is my ideal client? What specific problem does he or she face? How much will I charge them per month and/or session? What are my qualifications to help solve their problem? Do I need any additional training? Will they be paying me upfront or overtime? Can I get insurance to cover me if something goes wrong with our work together? You’ll want to leave enough room on each bullet point to expand when writing about them in your business plan.

What do you need to get started?

Before you get started in business, you need to lay out a few things: An estimate of how much money you’ll need to start your business and your sources of capital. A balance sheet is a good way to get an idea of what assets and liabilities are tied up in your business. 

Keep track of all expenses. Be detailed, thorough and on time with tax filing documents. Calculate your chances of profit or loss, based on market research of similar businesses and industry trends. Be clear about both expected results and unexpected risks (like competition). This is where a pro can help you navigate some difficult questions that might not be answered anywhere else. They can also help smooth out issues with regulations so that there aren’t any surprises at tax time—or if things go sour before tax time.

What will success look like for you?

As you begin to draw up your business plan, think about what success will look like. It’s important to have a detailed, realistic vision of how your coaching practice will evolve over time so that you can work backwards from there. Ask yourself: How much money do I want to make? What type of client will my ideal client be? Where are my services available? What kind of marketing and promotional materials should I use? Do I need a website or other online presence?

What could happen if it all went wrong?

If you’re not sure about your business idea, imagine how it would play out if everything went terribly wrong. Remember: No idea is a good one if there’s nothing to fall back on. Before you make any decisions, ask yourself what could go wrong and why people might want to avoid doing business with you. You may find that your idea isn’t worth pursuing after all—or that it needs some refining before moving forward.

Life coach business plan format: Final remarks

Business plan formats for a life coaching business vary greatly depending on if you are just getting started or have been in business for a while. Most professional life coach businesses look similar, and most start with some basic information such as your name, contact information, and website address. The business plan format outlined here will help you get started. think through all of the critical components and make sure you don’t forget anything.

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

 

A Lean Life Coach Business Plan – Free Sample

Are you planning to start a new life coaching business and looking for a lean life coach business plan free sample? If yes, you are on the right platform.

A Lean Life Coach Business Plan – Free Sample

A business plan is the first crucial step you need to take if you are planning to start a new life coaching business. A well-thought-out life coach business plan set you in motion to achieve your goals effortlessly. A lean life coach business plan differs from a standard life coaching business plan. It is a formal document that is precise and to the point. All unimportant and unnecessary details are trimmed off from a detailed business plan so that your business plan contains only the most crucial elements of success.
Lean life coach business plan free sample: Unique Life Coaching
Here is a lean life coach business plan free sample using a fictional company called Unique Life Coaching.

Identity
Unique Life Coaching is a professional and licensed life coaching business. We specialize in assisting people to achieve their personal goals and improve their competencies, capacities, and productivity. The scope of our offerings covers personal improvement coaching, family and relationship coaching, and financial planning.

Problem
The Covid-19 pandemic has severely affected the world economy causing individuals and families to grapple with problems such as unemployment, low incomes, high expenses, and emotional issues.

Our Solution
Our proprietary solution, “Life’s a Beautiful Puzzle” is designed to help individuals fill in all the missing pieces in their life and transform it into a beautiful life. Unique Life Coaching will assemble a team consisting of professional and certified life coaches and financial planners. Our aim is to hire professional coaches with unique skill sets and vast experience. Our team members are driven to professional excellence by their zeal to help people transform their lives. Their vast experience and knowledge of coaching will help us guide clients to achieve their desired outcome through our holistic coaching solution.

Target Market
Our target market is people having issues with their personal, family, and professional life as well as their finances.

The Competition
Our competitors consist of life coaching firms of all sizes. However, our main competitors are ABC Coaching Firm and XYZ Coaching Agency, two coaching companies that have been around the block for more than 10 years. There are also some smaller competitors with a limited scope of offerings.

Revenue Streams
Unique Life Coaching will generate revenue by offering the following coaching services:
Personal improvement coaching
Family and relationship coaching
Financial planning

Marketing Activities
We will hire highly experienced marketing experts to manage marketing strategies. The team will also be trained on a regular basis and conduct the following marketing activities:
Email or mail out introductory letters along with brochures to households and key stakeholders.
Strategically drop flyers and business cards to offices, libraries, other public places, etc.
Print and electronic media advertisements
Social media advertisements
Encourage word of mouth marketing through satisfied clients

Expenses
Our expenses include:
Start-up costs such as course development and business premise
Materials and equipment costs
Business incorporation fees
Liability insurance, permits, and licenses
Website costs
Staff’s salaries for at least 2 to 3 months
Marketing costs
Additional expenses such as business cards, adverts, etc.
Miscellaneous expenses

Milestones
As the coaching business grows, the company will look to establish a branch in a neighboring city as well. Moreover, the company also intends to expand marketing activities to acquire more clients and increase revenue.

The above lean life coaching business plan free sample can be your guide to create your own lean life coaching business plan. There’s no one best plan for all coaching businesses. The best plan for you will depend on many factors, such as whether you have employees or not, what are your expenses, how much time you want to spend administering the plan, etc.

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

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

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

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!

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 Ten Reasons Businesses Hire A Business Plan Coach

Have you considered becoming a business plan coach? Jack Canfield, in The Success Principles, says a “coach is one of the best-kept secrets of the successful.” Although it is not mandatory for business owners to hire a business plan coach, if they are serious about taking their businesses to the next level, a business plan coach can help them realize their visions and goals.

Top Ten Reasons Businesses Hire A Business Plan Coach
1. A business plan coach can help business owners clarify their visions and goals. If what they are doing isn’t something they really want for their businesses but they don’t have a clear vision of what they want, then a coach can help them get clear.

2. A business plan coach can support business owners through their difficult times. Sometimes, business owners just need someone to talk to who isn’t too busy, too distracted or too involved to just objectively support them when times are tough. If they need someone to talk to who understands and doesn’t judge them, then a coach can help.

3. A business plan coach can help business owners develop momentum. There will be times when a business owner started a business, felt good about it but then lost interest. A business plan coach can help business owners craft a business plan that will sustain that momentum and keep them focused on the prize. This is similar to hiring a personal trainer to help one sustain the momentum of exercising when they feel like doing something else.

4. A business plan coach can help business owners stay on track and be focused. There will be times when the little, unimportant things take control of business owners’ days and by the time the day ends, they realize they haven’t accomplished anything they were hoping to accomplish. A coach can help them stay focused on the important things while learning to delegate or dump the unimportant things.

5. A business plan coach can help business owners take an objective look at exactly what they have been doing. A good coach would ask business owners to take a close, and sometimes painful, look at what they say they want as compared to the things they are actually doing. If business owners continue to do things the way they are, will they get to the place they are hoping to get to? Coaches ask the hard questions.

6. A business plan coach may help business owners identify both effective and destructive behavior patterns that they may not see. Since the coach isn’t standing in the forest, he can typically see the trees that business owners don’t. How often do business owners continue the same destructive patterns over and over again just because they can’t identify them? A coach will help them see this more clearly.

7. A business plan coach will hold business owners accountable for the goals they set. A coach is not a babysitter. When business owners decide they want to get going and accomplish some things in their businesses, a coach will not accept their excuses for why they weren’t done. Making a public declaration of their intent will also provide business owners with the needed incentive to keep their commitments.

8. A business plan coach can show business owners how to accomplish more by working less. Coaches are adept at teaching time-tested systems for being more productive. A business plan coach can help business owners be more productive in less time.

9. A business plan coach can help business owners discover their true passions. All business owners have unique abilities and a purpose but some of them never discover their passions and the rest who do are too afraid to just go for it! A business plan coach can help business owners uncover their passions—the things that will make them excited to get out of bed in the morning.

10. A business plan coach can help business owners identify their core business values and show them how they can do business in synergy with them. The values by which business owners conduct their businesses are very important to each of them. Many times, certain values they hold may be in conflict with each other. Sometimes, business owners are not even consciously aware of the values of importance to them. A business plan coach can help them to run their businesses in accordance with their values through a solid business plan. This will provide the kind of businesses of which business owners can be proud.

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.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Creating A Successful Business Coaching Plan

If you are a business coach who is planning to set up a proper business, having a strategic business coaching plan is crucial to the success of your business. The creation of an efficient and effective business plan can mean the difference between having the need to work 70+ hours a week all year long – only to find out that your business is just breaking even or losing money.

Creating A Successful Business Coaching Plan

We know that having a good business plan is essential, but what really is “strategic business management”? In its most basic form, it is the process in which the goals and objectives for your business are defined, and an action plan is then created so you may reach your goals and objectives.

How Do You Go About Creating a Strategic Business Coaching Plan?

1) As a business owner, you should know and be able to describe in detail, the vision for your business. What is the image you want your coaching business to have?

2) Your business should also have clear and concise company values and guiding principles. For instance, what are the reasons you are in the coaching business? Create more profits for small businesses? Help managers develop a team of employees? And how do you do business?

3) It would also be a good idea to create 3 and 5-year business coaching plans. A long-term plan that is based on broad objectives will assist you in getting your business from where it is today to where you want it to be.

4) Thinking not only long-term but also short-term, will also greatly help your coaching business develop. Each year, you should create, define, and plan specific objectives that will when accomplished, help you on the road to achieving your long-term goals. Make sure your business coaching plan incorporates the following points:
– Be very specific
– Show measures and approaches
– Make the goals realistic and attainable
– Make sure they are time-oriented

5) Include a list of obstacles and barriers which could hinder you from achieving your goals. In any case, in order to get your business to where you want it to be, you’ll need resources. Create and define a list of resources you’ve already got and other resources which you will need to achieve your goals.

6) You should also create a concise action plan that clearly defines how you will actually achieve your intended goals. If your business has employees, it is of great importance to involve them with this part of the business planning process.

7) In your business coaching plan, you should create simple and concise milestones or benchmarks that will define when you have actually reached a goal or objective. This is an essential part of the planning, as it will enable you to measure your progress as a business.

8) After you have created your strategic business plan, it is of paramount importance that the plan is shared with anyone who will be involved in the process. Your annual business plan is the roadmap that will lead your coaching business and those involved, to the goals which need to be achieved – but to be effective, everyone must end up at the same goals and objectives or the “destination”. And to do so, everyone requires the same roadmap.

9) Be sure to regularly check and compare the progress of your business against the benchmarks defined in your business plan. Should something go wrong with your business, the sooner you figure out what went wrong, the sooner you can fix the problem, make the necessary adjustments and get your business back on track.

10) And finally, ensure that each year you follow the exact same cycle or template to create your strategic business plan. Dream, Plan, Act, Check. That’s all there is to it.

Creating a strategic business plan and ensuring that you follow it is not just about achieving specific goals and objectives. It’s all about making sure that the journey to these goals is not only safe but enjoyable.

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.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

A Sample Business Coaching Plan

A business coaching plan can help you map out, organize, and prioritize the way you work with each client. Having a cohesive and comprehensive plan can improve results, and ultimately boost your business. The more satisfactory results you get, the more clients you will have!

Business Coaching Plan

Business Coaching Plan – kasto © 123RF.com

Coaching Plan – Not a Business Plan

Every business needs a business plan – a written foundational document that details various aspects of a business. But, here I am talking about an actual coaching plan – how you will go about helping each client achieve their goals and dreams.

You need both – a business plan and a business coach plan!

Ignore either of these at your own peril!

An Outline for a Business Coaching Plan

Here is a quick outline for a coaching plan – this works for any type of coaching business

Initial Session

This is where the assessment process begins – a sort of get-to-know-you session. This can be done with interview questions, casual conversation, active listening techniques, and questionnaires. Goals and objectives are discussed. It’s also the best time to analyze the client’s ability to be coached and their receptiveness towards coaching.

Second Session

In this session, the coach and the client go over the assessments. This can mean discussing what was talked about in the initial session or going over any assessment question that may have been given as “homework.” Obstacles to success and behavior issues can be discussed here. This session should give the coach a comprehensive overview of what the client needs and expects.

Third Session

Goals and objectives are clarified in this session and strategic plans are begun. The groundwork has been laid and the journey has begun. The business coaching plan is being set in motion. All aspects of a coach’s training are brought into this session, from behavioral analysis to positive psychology.

Remaining Sessions

All the remaining sessions will be based on the previous session. The business coaching plan will have many variables, and twists and turns at this point. This is where coaching skills are tested, and the cream rises to the top. You need to go with the flow, and when that flow gets stagnate, you need to have the skills to push it forward. Goals can be revisited, strategic plans can be modified, and additional assessments can be made as needed.

Later Sessions

As you near achievement of goals, accountability and feedback become even more important. Taking the time to analyze progress will benefit both the coach and the client. Feedback become a vital component of each session (though feedback is always important).

No Template is Perfect for Coaching

Templates and samples are a great way to organize and prioritize your coaching sessions, but the real coaching sessions never go exactly as planned. Just like having a game plan in sports, a coaching plan is only a framework, not something which can be changed or adjusted according to the variables that occur.

A business coaching plan is an absolute necessity, but it’s only a start. Combined with high-level coaching skills, you will certainly be able to find the outcomes which your clients seek, and make your name in the coaching world!

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.

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community