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.

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.

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Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community