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The Vision and Mission Statement Sections of a Business Plan for Life Coaching

Having a business plan for life coaching is essential – every business needs one, and coaching businesses are no exception. To write a good business plan takes some time, research, and patience. It also helps to use a sample or a template. This gives you an idea of the format and the items that need to be included.

Business Plan for Life Coaching

Business Plan for Life Coaching – Sergey Nivens © 123RF.com

Make the Business Plan Your Own

Your life coaching business is unique – it may have many similarities with other life coaching businesses, but the simple fact that it is yours makes it unique. You should use a template, but what you include in each section should not be generic – it should be your words, your thoughts, your plans, and your goals.

The Vision Statement Section of a Business Plan

One of the most important section of a business plan for life coaching is the vision statement section. The vision statement paints a compelling picture of where the company will be in the future. It is generally a big picture item – a place where the business will be when it realizes its full potential and achieves its short-term and long-term goals.

Not creating a vision statement is like setting off in a ship without a rudder. It helps you move from task to task with a purpose. It helps describe how individual and organizational actions will achieve goals and ensure company success.

The Mission Statement Section of a Business Plan

The mission statement section of business plans for life coaching businesses define how they will accomplish their visions. It embodies the company’s values and commitment to achieving their goals. Mission statements are more short term than vision statements.

This will remind you, and any employees you may hire, why the company exists, and what will make it successful. The mission statement of a business plan for life coaching is a short sentence describing goals, functions, competitive advantages, markets, and philosophies.

Tips for Writing the Vision and Mission Statements for a Business Plan for Life Coaching

Here are a few general tips for writing the vision and mission statements of your business plan.

  • Set aside some time. Don’t rush it.
  • Use a template, but don’t copy from it. The template should only be used for reminders of what is needed, and for formatting.
  • Brainstorm. If you can work with a few other entrepreneurs in a brainstorming session, especially those who have written a business plan, this will help you come up with more ideas. However, if it is only you, it is still possible to have a great brainstorming session if you take the time and have some patience.
  • All words are important. Because the statement should be short and concise, all words matter. Pick your words carefully and don’t be afraid to revise. There’s no such thing as good writing, only good rewriting. Editing and rewriting gets it right!
  • Think both short and long term. The mission statement of a business plan for life coaching is more short term, and the vision statement is more long term. Think about both when writing these sections.

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.

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

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4 Reasons You Don’t Need a Business Plan for Life Coaching

A business plan for life coaching is a very valuable tool which can help you successfully start and operate your life coaching business. It’s a plan for where you want to go, how you want to get there, and what are the most successful and profitable ways to make it work.

Business Plan For Life Coaching

A Business Plan for Life Coaches

A business plan for life coaching serves as an outline for your business. Things to include in a business plan are

  • A specific area of specialty
  • License, insurance, and client contracts
  • Office space – area, furniture, costs, etc.
  • Establishment of fees
  • Identification of target market
  • Identification of competition
  • Marketing you services
  • Potential additional income streams

But, do you really need a business plan for life coaching? Can your business be successful if you just wing it and shoot from the hip? Many coaches have tried and many have failed, but it may not always be necessary to create a business plan.

4 Reasons You Don’t Need a Business Plan for Life Coaching

  1. A business is sometimes a means, and not an end. Coaching business are often started on the side – some may even consider them a hobby. Other coaching businesses are started by those in semi-retirement and are considered a way to continue in a career but in a different capacity – this is often called consulting. In these cases, it may not be necessary to create a business plan.
  2. Are you experienced in coaching? Perhaps you have worked for a coaching firm or had a coaching business in the past. Extensive experience may preclude the need for a business plan. If your expertise and experience is extensive, you may not absolutely need a business plan to get your business up and running.
  3. Uncertainty is the norm in the business world. Some people think that by creating a business plan they are eliminating uncertainty. If you are the type of entrepreneur who may feel restricted or trapped by a business plan, and one who feels that the parameters set by a plan can prevent bold action, then it might be best to skip the business plan and get to work on building your business.
  4. Creating a business plan is just another excuse to delay action. Too much hesitation and procrastination will kill most business ideas and ventures. If you think that writing a plan will take too much time and zap your inspiration, then getting started will generate momentum and get your coaching career started much quicker. You can always go back to the business plan later.

Most Businesses Need a Business Plan

For most entrepreneurs a business plan is a vital part of success. Most coaches are not business people, and they need a business plan for life coaching to help them design, create, and build their coaching business. You may be one of the few people who can get by without a business plan, but chances are you are like most of us, and you really need to start with a concise yet comprehensive business plan.

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