SOAR or SWOT in a Leadership Coaching Business Plan?

A leadership coaching business plan is essential for anyone starting a leadership coaching practice. It serves as a founding document and a handy reference guide going forward. Don’t start your business without one!

Leadership Coaching Business Plan

Leadership Coaching Business Plan – Siarhei Lenets ©

A Leadership Coaching Business Plan Should be Comprehensive

Don’t skimp on your plan!

Take your time and make it as comprehensive as possible while keeping it concise and clear. All coaching business plans should include:

  • Administrative Section
  • Vision Statement
  • Mission Statement
  • Values Section
  • Section of marketing and Promotion
  • Analysis of Target Market
  • Analysis of the Business, the Industry, and the Competition

SWOT or SOAR in a Business Plan?

There are many different ways to perform a business analysis. Coaches are familiar with both SWOT and SOAR as they often use these tools in their practices. These tools can also be used in a business plan to help you start your business and make decisions in your practice. What analytical tool employed is up to you. Both can be used for a leadership coach business plan.

Why Use SWOT?

SWOT stands for strengths, weaknesses, opportunities, and threats. It is one of the most popular coaching tools and for good reason. In a business plan, it works to focus on what you do well, what needs improvement, what possibilities exists, and what obstacles stand in your way. It’s a great tool for a leadership coaching plan.

Why Use SOAR?

SOAR has been categorized in a couple different ways. In some places it may stand for self-awareness, opportunities, action, and review. However, more commonly it stands for strengths, opportunities, aspirations, and results. Both can work in a coaching practice, but the more common form works better in a business plan.

Some consider SOAR a more positive reframing of SWOT. Leaving the “threats” component out of the analysis makes it more focused on the positive.

Make Sure a Business Plan is Has Analysis

Should s leadership coaching business plan use SOW or SOAR? There is no right or wrong answer to this question. Both are great ways to analyze a business, the market, the competition, and the possibility for success.

The real answer to the question is: Make sure to use one of them!

Or both of them.

Using Both SWOT and SOAR in a Business Plan

Why not use both of these analytical tools? Sure, it may take additional time. It may require a bit more research. But, it just might be worth it. Besides, there will be plenty of overlapping and the extra work will be worth it.

Using both SOAR and SWOT will give you extra analysis and allow for more information about how to create a successful coaching practice. Your business plan should be designed to help you succeed. Your business plan should be composed in a way that offers useful information for the life of your business.

Using both SOAR and SWOT in your leadership coaching business plan will give you an extra advantage, more information, and additional insight on how to start you practice and which direction to go for success.

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

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