Life Coaching Plan 101 for New Businesses

Welcome to Life Coaching Plan 101 – the starter class for new life coaches. This isn’t about how to plan your client sessions. This is about how to create a clear and comprehensive business plan for your life coaching practice.

Coaching Plan

Coaching Plan – kasto © 123RF.com

Yes – You Need a Business Plan

Don’t take the easy way out and skip writing a business plan. Sure, you can get by without one, and you may even succeed in the business without composing a plan. But, why take that chance when it really doesn’t take too long or involve too much work to write a good plan?

What is Your Coaching Plan?

What are your plans for the business? Do you know? If so, you should write them down. What are your goals? If you know them, you should put them in writing.

Having a plan is more than just dreams in your head. A plan means you can articulate a systematic way you will start and operate your business. It also details the manner in which you will treat clients and the values you will display as a coach.

What a Good Coaching Business Plan Doesn’t Have

Here are things to leave out of your coach plan:

  • Fluff and filler. Don’t just write words to make it look longer. No one is going to see this unless you add a partner or apply for financing – things most starting coaches don’t do.
  • Vague goals. I want to be a great coach is not a measurable goal. Your goals should be specific and measurable. You can certainly dream big, but you also need to be realistic.
  • Too much detail. Writing a coaching plan may seem like a daunting task before you start. However, as some people get into it, they start writing everything down. Too much detail, like too much fluff, is bad. You don’t have to include everything!

What a Good Business Plan Includes

When writing a business coaching plan for your life coaching practice, here are a few essentials:

  • Administrative section. This is where you include everything it takes to start your business and operate it indefinitely. Licenses, permits, accounting methods, office space, type of software, website development; everything that runs your business and pushes it forward
  • Values, Vision, and Mission. Every business plan must have these sections. A values section lists the values with which you will coach and run your business. A vision section is an inspirational description of what you want to achieve or accomplish with your practice – think BIG! A mission statement is the purpose of the business or the reason it exists.
  • Goals. Goals matter and you should list several – make sure they are specific, measurable, achievable, relevant, and time-based.
  • Market analysis and market description. Who will you be coaching and how competitive is it in your area (or online)?
  • Marketing. Yes, you must take some time to consider marketing. Your coaching plan for business needs a section on marketing and promotion. Most people hate marketing, but if you take some time to consider the possibilities, and also the ways to measure promotional effectiveness, you will be one step ahead of many other coaches.

By the way… you’re invited to claim your FREE step-by-step “Master Coach Blueprint” video toolkit. Just go HERE now to get your master coach blueprint videos.

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

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

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