Keep Telling Yourself You Don’t Need a Business Plan for Coaching Practice

You don’t need a business plan for coaching practice – you can keep telling yourself this over and over again. But, repeating something doesn’t make it true. You do need one. I’ll tell you why, but first I’ll give you a few excuses not to write one!

 Business Plan for Coaching Practice

Business Plan for Coaching Practice – pedrosek © 123RF.com

Why a Business Plan?

What is a business plan for? Coaching practice and any other type of small business may seem to be too small for a business plan. But, big or small, every business needs some type of plan. Does a four-thousand square foot house need a plan while a one-thousand square foot can be built without one? Hardly.

If you are going to try and build a coaching practice, even a small one, you need to write a business plan!

No Need to have a Business Plan for Coaching Practice

Here are a few excuses for you when denying you need a business plan. These will come in handy for the lazy, the procrastinators, and the terminally unsuccessful.

  • It’s too hard to write a business plan. It takes so much time and effort and produces very few results.
  • There are plenty of successful businesses without a business plan.
  • Only companies looking for funding need a business plan.
  • It’s just me – one coach and one coach only. My practice is too small to need a business plan.
  • Why write one? I’ll never use it – it just seems like an exercise in futility.

Do You Want to Succeed or Fail?

Those excuses are good ones, I’ll admit. But, they will only set you up to fail. So, if you want to fail at your coaching business, then, by all means, use any and all of those excuses you want.

But, if you want to succeed, you might take a moment to consider this: Failing to plan is planning to fail. I think Benjamin Franklin said this. I know the great coach, John Wooden used it, and Winston Churchill said it during World War II.

Considering whether a business plan for coaching practice is worth it? You’d do well to remember Ben Franklin’s axiom.

Why Have a Business Plan?

  • Business plans help you get started by serving as an outline of what you need to do, how you need to do it, and when it needs to be done.
  • Business plans outline the core of your business – your mission, your vision for the future of the business, the values with which you will conduct the business, and your goals for the practice.
  • A good business plan for coaching practices detail the target market, the ways in which you will reach this target market, and the outcomes you can offer this target market. It contains your market and your marketing plan.
  • A business plan offer a comprehensive yet concise strategic plan for the trajectory of your coaching practice.
  • A good business plan for coaching practice will hold you accountable. You can look back to see if you have achieved your goals, are on target to reach those goals, or are falling short of where you need to be.

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.

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

FREE Video Course: How To Build a High Paying Coaching Business

Comments

  1. Rico says

    Its important to have a business plan for every thing that you do in order to have a smooth flow to what you want to do

Speak Your Mind

*