How to Write a Business Plan for Life Coaching

How to write a business plan for life coaching. If you are starting out as a life coach, or if you are already a life coach but one without a business plan for your practice, then this brief tutorial will provide you with a few starting pointers for writing a business plan.

And yes, you need a business plan!

How to Write a Business Plan for Life Coaching

How to Write a Business Plan for Life Coaching – Michael Simons © 123RF.com

5 Awesome Reasons to Have a Business Plan for Your Coaching Practice

  • Goal setting. Every business needs goals. A business plan will help you identify and clarify those goals.
  • Goal attainment. By formalizing and writing down goals, it makes them seem more real. The business plan is a constant reminder of your goals.
  • Planning. This goes along with goal setting and includes the methods and pathways to achieve those goals.
  • Marketing. Most of us hate to market but writing a comprehensive section of marketing will help you focus on promotion and what needs to be done. Can you do it yourself or will you need to hire an expert? Any good information on how to write a business plan for life coaching will include an informative section on marketing.
  • Vision and values. Who are you as a coach? Who do you want to be as a coach? What values will guide you as a coach and an entrepreneur? Take time to think about these and put them down on paper!

How to Write a Business Plan for Life Coaching

Here are a few valuable tips that will help you produce a valuable and usable business plan. Any good information on how to write a business plan for life coach entrepreneurs will be flexible, adaptable, and general enough to be used for all life coaches, no matter the specialty.

  • Define your service. This means to define who you are as a coach (values and vision), what your target market is (specific groups of people you wish to coach), and how you plan to offer your services (one-on-one, group, seminars, online).
  • Consider outcomes. Can you help your targeted clients find the outcomes they are seeking? If you have any doubts about this, it might be best to look for another target market or another profession.
  • Get help with the marketing section. If you aren’t a skilled marketer, it is wise to get some advice from other coaches or marketing experts on effective promotional plans. Talk to the experts, peruse online help, or read some books to find out ways to market a coaching business before you include anything in your plan. Marketing info is crucial to any good source about how to write a business plan for life coaching.
  • Write clearly and concisely. A business plan is meant to be a reference guide and a planning tool for future use. Write one that can be read and understood in the future!

Writing an effective business plan takes time, patience, and a little bit of hard work. Do over the course of a few days or a few weeks. The best advice on how to write a business plan for life coaching is three-fold:

  • Take your time
  • Make it clear and comprehensive
  • Have fun! It’s not a chore!

Hope you took some great value out of this post today! I’d love to hear your feedback, so make sure you leave a comment with your thoughts or questions. And also, you can click on the Twitter button below to retweet this article…Thank you!

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community