A Lean Business Plan for Career Coach Firms

What is a lean business plan for career coach firms? Lean business plans for career coaches are concise and to-the-point documents. All unnecessary details are trimmed off from a detailed business plan so that the document only contains the most crucial elements of success.

A Lean Business Plan for Career Coach Firms

A lean business plan for career coach firms revolves around the popular business plan strategy “plan, do, check, adjust (PDCA)” propounded by Eric Ries in his book “The Lean Startup.” It focuses on the key drivers of your business and find a strategy that will truly bring success.

A career coach should use a lean business plan not only to save time but also revise and readjust it as you try and learn new things. Continuous amendments of a business plan can give a business a better chance of succeeding.

How to write a lean business plan for career coach firms
A lean business plan consists of the following elements. These are extremely important ingredients of a lean business plan that you must include.

Identity
In this section, include a one-sentence overview of your career coaching business. Highlight the purpose of your career coaching business.

Problem
What problems are you solving for your clients? Are they having difficulty in finding the right career? Are they unhappy at work? Are they planning for a career transition?

Solution
What’s your solution to the problem? Describe your products and services here. You can also briefly describe how you will use different methods and career coaching techniques to help people transform their careers.

Business type and description
In this section, your plan should clearly indicate what type of business you are intending to set up. Sole proprietorship, partnership, or a Limited Liability Corporation (LLC) are three major forms of business. It is important to state your business type because tax and other financial implications are different for different business types.

Revenue Streams
How are you going to make money? There are several niches you can choose from if you don’t want to be a generalist career coach, for example, career coaching for women executives, career coaching for the retired, and so on. Next is to figure out how you’d package your products or services. Is it through face-to-face classes, one-off workshops or online sessions?

Market analysis and target market
You will provide a thorough analysis of the career coaching market in this section. You can highlight key aspects like growth potential, new trends in the market, and potential new opportunities presented by the market. You can also illustrate the target market that your career coaching business should focus on and capitalize on new opportunities.

Unique selling point
This section indicates what makes you stand out among hundreds of career coaches. It should explain why your target audience chooses you over your competitors. You can conduct a SWOT (Strength, Weaknesses, Opportunities, and Threats) analysis to determine your key strengths and draw on your findings to fine unique selling point(s).

Marketing
In the marketing strategies section, focus on how you will deploy different marketing strategies to draw more clients to your business by presenting different offers and enticing proposals.

Competition
Your business plan should also contain information about your main competitors, their strengths, fees, and most importantly, what makes you better than all of your competitors.

Finances
Financial planning focuses on how to generate revenue and capital to achieve your goals and objectives. You can describe all types of expenses and resources required for operating your business and how to afford them by generating enough revenue or capital.

The main difference between a traditional business plan and a lean one is that you’re not supposed to spend days, weeks, or months to come up with a lean business plan. Try and finish your first draft in under one hour. Write bullet points or short sentences on a sheet of paper. Then take a step back and see if the plan makes sense. Once you’re done, update and tweak the plan as you go along!

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.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Get Inspired and Write a Career Coach Business Plan

Developing a career coach business plan is the first step for career coaches looking to start their career coaching practice business. Well-thought-out career coach business plans, when properly implemented, can reap great rewards in the future. 

Get Inspired and Write a Career Coach Business Plan

Don’t know how to craft your career coach business plan? There is no need to be worried because we’ve got you covered. In today’s post, we are going to guide you on how you can write a business plan for your newly established career coaching business.

Important Elements of a Career Coach Business Plan 

Creating a business plan shouldn’t be a daunting task. This simple following will help you gather all the necessary pieces to begin successfully. Let’s get started.

 

Have a clear mission

A mission is basically a 1-2 sentence motto that shows what impact your career coaching business has on the world. To come up with a mission, focus on why your business exists and what it does for others. As a career coach, what is your mission? Is it to help remove barriers for people to embark on the career of their dreams, whatever that may be? Or is it to help others choose their career and help them discover the outcomes that they want in their career?

 

When writing a mission statement, keep it simple and don’t overthink it. It doesn’t have to be perfect. One memorable statement will suffice. Set a timer for 10 minutes and when the time is up, move on to your next task.

 

Who is your ideal client?

Clients are the lifeblood of any coaching business, therefore it’s extremely important to know who your ideal client is. An ideal client is the dream customer that you serve in your business. To find out who your ideal client is, it is important to think beyond demographics. Your ideal client may be a Millennial in their 30s, but if you dig deeper into the day-to-day frustrations, beliefs, mindsets, and lifestyles, this will help you identify and serve them much better.

 

One important thing to note when it comes to identifying who your client is. You may have heard about finding your niche or this saying, “if you try to target everyone, you’ll target no one.” Hence, do not be afraid to choose an ideal client that’s specific and within your niche.

 

Find out what problems are your ideal clients facing

The problems that your ideal client deals with are basically issues that they desperately want solved. Some of the problems may include being stuck in a sunset industry, not getting the salary they want, dissatisfaction or loss of motivation at work, a decreased work-life balance, etc. List down three of their biggest problems that keep them up at night.

 

To solve their problems, you need to offer solutions to their problems and help them envision what their life would be like if their problems were solved.

 

Process

Now that you’ve discovered the problems your ideal client is facing, you need to have a process that leads them to your offer. How are you going to get that ideal client from their problems to your solutions? The process is akin to a dish – you need a few ingredients that will make your dish palatable. Is it your coaching approach? A specific method you’ve developed? A proven framework? Your experience?

 

In the highly competitive coaching market, you likely aren’t the only career coach doing what you do. Take the time to craft your unique value proposition. What makes you stand and what distinguishes your business from others?

 

Marketing Strategies

As entrepreneurs in the 21st century, you have incredible marketing channels at your fingertips, most of which are FREE. Some of the more popular ones are:

 

  • Facebook
  • Instagram
  • Twitter
  • LinkedIn
  • TikTok
  • YouTube
  • Snapchat
  • Pinterest
  • Email marketing
  • Blogs
  • Books and magazines
  • Articles

 

You don’t have to use any of these, and you don’t have to do them all from the get-go. Pro tips: Know where your ideal clients are hanging out online and offline. Also find out how they gather information to solve their problems.

 

Financial Goals

Your next step is to come up with some financial goals. Where do you want your business to be in 5 or 10 years? And don’t just focus on revenue. Think about impact as well. How many executives, managers or CEOs do you want to positively impact? Don’t afraid to dream big here. Here are some examples of how you can come up with your financial goals:

 

1-year

  • $120,000 in revenue, team of 2-3
  • 200 executives, managers or CEOs served

 

5-year

  • $2,500,000 in revenue, team of 50-100
  • 10,000 executives, managers or CEOs served
  • Best-selling career coaching book
  • $20K in scholarship

 

Business plans don’t have to take months or even weeks to complete or be filled with a bunch of business jargons to be useful. All you need to do is balance business acumen with creativity. Now, get started and write your career coach business plan!  

If you’d like to learn how you can get started in Wellness Coaching quickly, check out this FREE step-by-step “ Life Coaching Business Blueprint” video toolkit. Just go Here now to get your Life Coaching Business Blueprint

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Where Can You Find a Financial Projection for a Startup Life Coach Business?

Financial projections are a vital part of managing any business; the question is, where can you find a financial projection for a startup life coach business? What are financial projections?

Where Can You Find a Financial Projection for a Startup Life Coach Business?

In recent times, the life coaching profession has been on a steady rise because of the need to help people put their lives into a proper perspective to achieve their full potential. Financial projections provide a way to forecast your business’ future revenue and expenses and attract prospective investors. 

What are financial projections?

Financial projections forecast a business’s future cash inflows, income, and balance sheet. They help you estimate your fixed and variable costs and put them together with your expected income to project your profits. 

They show potential investors and bankers what you intend to do with your money and how you will grow it. If you want to get loan funding, financial projections help show potential lenders how you will repay the loans. They also help you identify your financial needs, find the right investors for your business, optimize your pricing, and monitor cash flow. 

The three statements required for any financial projections include:

  • Income statement: This part contains the income and expenses that your life coaching business will likely incur to function well.
  • Cash flow statement: This summarizes the business cash inflows and outflows and indicates your company’s ability to meet its financial obligations on time.
  • Balance sheet: This presents a snapshot of your business assets and abilities, and the amount of shareholders’ funds. The balance sheet indicates the capital needs of a business. It helps you to identify the allocation of resources and how much financing is needed.

Where can you find a financial projection for a startup life coach business?

To launch a successful life coaching business, you need a solid business plan. It is one of the building blocks of any new company. Also, it provides a road map to help you figure out the services to offer, your target market, and financial resources requirements, among others. One of the main components of a business plan is financial projections for the first 2-3 years.

In short, you can find a financial projection for a startup life coach business in its business plan.

The next question is: How do you create a financial projection for your startup? Here are some tips to help you get started:

Project your expenses and sales: Determine the primary expenditures you will need to get your business up and running and the subsequent operational costs. Also, create a sales forecast to help you determine your monthly revenue. 

Create financial projections: Use Excel spreadsheets, free online templates, accounting software, and other tools available to you to create forecasts. Include your projected expenses and revenues to generate a cash flow projection, annual projected incomes statements, and balance sheet projections.

Use accounting software: While templates can seem like the most straightforward way, accounting software plays a vital role in creating accurate financial projections. They can help you analyze a financial projection for your startup life coach business at a click of a button, hence increasing accuracy and eliminating manual errors in calculation. These are a necessity if you’re looking for investors or additional financing for your business. You can also consider getting the help of a professional.

Final thoughts

Financial projections give a clear picture of how a company will perform and help in making strategic decisions on business operations and growth. They help establish realistic targets, setting SMART goals and establish early warning signs related to business performance. Banks and investors may also use financial projections to base their investment decisions. These are, therefore, a must-have for any startup life coach business.

By the way… you’re invited to claim your FREE step-by-step “ Life Coach Salary Secrets” video toolkit. Just go HERE now to get your Life Coach Salary Secrets.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Transforming Lives LLC: A Sample Coaching Business Plan

Are you looking for a sample coaching business plan? Then you have come to the right place because we are going to share with you an example of a coaching business plan to enable you to craft your own business plan. This sample business plan is going to save a lot of your valuable time and money. Remember, there are also a lot of sample coaching business plans available on the Internet that you can refer to. 

The following sample coaching business plan for the fictional firm, “Transforming Lives LLC” is an example of what a coaching business plan might look like.

Let’s get started.

A Sample Coaching Business Plan

Transforming Lives LLC’s business plan consists of the following key components:

1. Executive Summary

Objectives

  • To acquire a personal premise for our business by October 2021.
  • To hire two certified life coaches by October 2021.
  • To acquire at least 100 clients by the end of December 2021.

Mission Statement

To provide life coaching, counseling, and guidance services to a diverse client base and transform their lives.

2. About Us

Transforming Lives LLC will operate in Las Vegas, Nevada, starting on June 01, 2021. Our business intends to provide the most effective solutions to the personal and professional problems of our clients. 

Transforming Lives LLC is a privately held C corporation owned in majority by its founder, Philip Cross. There are two other partners, including one public relation consultant, Jack Thompson and one attorney, Paul Schulman. Neither owns more than 20%, but both are active participants in management decisions.

3. Operating Location

We have one location—a 5,000 square-foot brick and mortar facility located in a suburban shopping center conveniently close to the downtown area. It includes a training and sales area, service department, and offices.

4. Services and Pricing

Transforming Lives LLC will provide life, career, and business coaching services. Clients will be charged on a per session or monthly basis. The price per session will be $100/hr whereas the company will charge $500 monthly if a client chooses a monthly pricing plan.

5. Target Market

The company will target individuals all across Las Vegas who need life, career, and business coaching services.

6. Competition

The company’s main competitors are:

Life Coaching Company – This company is an established coaching firm that has been operating for the past 10 years. It has a huge client base and is known for offering unique coaching facilities and affordable prices. 

Coaching for All Company – This company is well-reputed among the upper-class strata of the city and mainly targets businesspersons, professionals, and celebrities.

7. SWOT Analysis

Here’s an overview of our SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis:

Strengths

  • Affordable prices
  • Dynamic, innovative, and modern coaching techniques and strategies

Weaknesses

  • New to the Las Vegas’s coaching market
  • No clientele

Opportunities

  • Ever-increasing need for life coaches
  • Affordable and easy marketing strategies

Threats

  • Established coaching companies in the market with established clientele
  • Clients prefer experienced and established coaching companies

8. Marketing Plan & Strategy

We strive to build long-term relationships with clients, not single-transaction deals with customers. Our goal is to become their go-to coaching firm and make them understand the value of the relationship.

Our marketing plan consists of two phases. The first phase will be creating accounts on social media platforms that the target market most commonly uses. The second phase will be starting promotional campaigns such as rolling out promotional materials via our website, YouTube channel and email newsletters.

9. Financial Plan

Transforming Lives LLC will incur the following start-up costs:

  • Desk, chair and file cabinet
  • Fax machine, copier, telephone line
  • Computer with printer and Internet connection
  • Legal fees for business formation

Our total start-up cost is $23,000.

Projected Profit and Loss

Year 2021 – $3500

Year 2022 – $60,000

Year 2023 – $95,000

 

Projected Balance Sheet

Year 2021

Total Assets – $24,000

Total Liabilities – $20,000

Year 2022

Total Assets – $40,000

Total Liabilities –$26,000

Year 2023

Total Assets – $29,000

Total Liabilities – $15,000

Projected Cash Flow

Year 2021 – $22,000

Year 2022 – $39,000

Year 2023 – $30,000

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.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Crafting a Business Plan for a Coaching Center

If you are planning to start a coaching center, a well thought out business plan for a coaching center can help determine whether your business has a chance of succeeding. And if you are looking for investors to invest in your business, your business plan must demonstrate whether it’s viable in the long run. A solid business plan construction entails deep expertise about the business, a thorough understanding of the industry, and the knowledge of how to start, operate, and grow a business. 

Crafting a Business Plan for a Coaching Center

What are the key aspects to consider when creating a business plan for a coaching center?

Here are some of the things to keep in mind when creating business plans for coaching centers.

1. Coaching qualifications

Coaching-specific knowledge, expertise, and experience are prerequisites of building an effective business plan for a coaching center. You have to demonstrate to your investors that you have coaching experience, or you have assembled a team that has enough experience. Moreover, your coaching credentials play a key role in convincing your investors that the business is in good hands.

2. Self-assessment

In business planning, self-assessment involves performing an analysis of one’s own goals, interests, skills, and experience. Before writing your business plan, ask yourself these questions:

  • “Am I ready to start and operate my own coaching center?”
  • “Is there a market for a coaching center in my area?”
  • Do I have the necessary capital or funds to start if investors do not invest?”
  • “What are the specific types of services my coaching center will offer?”
  • “Which niche should I choose if there is a lot of competition in the industry?”

3. Business plan components

Your knowledge and awareness about the key business plan components are also among the prerequisites of creating an effective business plan for a coaching center. Key business plan components include your business’s vision, objectives, mission, operating plan, market research on the industry and the competition, financial planning, and sales projections.

4. Detailed funding analysis

A business plan for a coaching center must also cover a detailed discussion about funding. You can include cost projections involving start-up and operating costs for the next 4 to 5 years. It is necessary to convince investors as they need assurance on how and where their money will be spent and what will be their return on investment. 

5. Executive summary

The final step is to write an executive summary consisting of one to two pages. An executive summary has the potential to convince your investors to read your whole business plan. Therefore, it must focus on and answer one question: “What makes your coaching center stand out from the crowd?” In a marketplace where being different means a better chance of surviving and getting funding, having a unique selling proposition is one of the most important things you can do for your coaching business.

6. Documentation

Once you are done with coming up with a narrative for your business, your business plan needs factual information that supports it. You need to include a well-structured appendix containing supporting documents in your business plan. For example, you can include market research data, resumes, and credentials of your key personnel, legal documents, and so on.

SPECIAL BONUSIf you would like step-by-step blueprints for generating a massive income from high paying coaching clients, I invite you to claim your FREE ACCESS to the “ Life Coach Salary Secrets” video toolkit.  Go Life Coaching Business Blueprint to get it FREE.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

 

Business Plans for Coaches: All You Need to Know

You’ve probably come across this question many times: “What is the basic purpose of business plans for coaches?” Simply put, a life coaching business plan is a written document that provides you some strategies to improve your business performance and achieve your business goals. Business planning for coaches involves thinking deeply about key areas of your business, i.e., vision and mission, target market, marketing strategies, operations, and financial planning, and coming up with actionable strategies that would allow your business to flourish.

Business Plans for Coaches: All You Need to Know

By having a business plan, you can improve your business’s bottom line just by implementing a well-written plan. So, how do you write one? Let’s find out.

Business Plans for Coaches: What Do They Include?

Writing a business plan can be challenging, but to simplify the process, we have come up with some basic elements that you should include in your business plan.

Vision and Mission

The very first and basic thing about your business is the vision statement. This section describes the desired future position of your coaching business, i.e., the destination for your business. Next is the mission statement. This is a guiding light of how to get to the destination with short-term and long-term goals to achieve your vision. 

Business Type/Description

There are three types of business ownership structures you can choose when forming your business: sole proprietorship, partnership, or limited liability corporation. The first two types are almost the same, where owners keep all profits but are held liable for the business’s debts and other problems. Corporations protect the business’s principals from being held liable for its debts, debts, lawsuits, and other problems. Once you’ve chosen a business ownership structure, include details about the coaching services and products you sell along with their prices. 

Market Research

Here, elaborate on the specific niche(s) you cover, for example, mindset coaching, business coaching, empowerment coaching, health coaching, etc. Then, state your unique selling point that distinguishes you from other coaches. It would be best to include your strengths and weaknesses and compare them with your competitors’. You can also mention your competitors’ specific services and selling points in this section.

Marketing Plan

People need to know about your services, and for this purpose, you need a marketing strategy for your coaching business. How do you plan to advertise your business? Is it through a website, social media, or an email newsletter? Write down the marketing strategy and budgetary allocation for marketing.

Finances

Include some details about your budgets and sales forecasts in this section. You can create a spreadsheet about your financial plans, including how much money you will spend monthly and yearly. A sales forecast period can be monthly, quarterly, half-annually, or annually for a 3 to 5-year period.

Conclusion

Business plans for coaches play important roles in the success of a business. By coming up with a business plan and changing it as you see fit, your business will not remain stagnant, and you are able to continuously deliver good coaching services and products. 

SPECIAL BONUSIf you would like step-by-step blueprints for generating a massive income from high paying coaching clients, I invite you to claim your FREE ACCESS to the “ Life Coach Salary Secrets” video toolkit.  Go Life Coaching Business Blueprint to get it FREE.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Coaching Practice Business Plan & Its Key Components

A coaching practice business plan is a document that summarizes how you are going to operate your business and how it will succeed. In other words, it is a document stating your operational and financial aims and objectives for your coaching business. A business plan is like a GPS system that leads you to success with detailed visions and plans showing how you will realize your business objectives. It should be your first step when starting a coaching practice business as it will help your business grow, attract investors, and ensure you don’t lose focus.

Coaching Practice Business Plan & Its Key Components

Why do life coaches need a business plan?

Life coaches need a business plan for their coaching practice business just like other types of businesses as it will be:

  • A roadmap that tells you where you are right now and where you want to be in the future.
  • A guide to illustrate how you will enhance your revenue, access more resources and increase business assets.
  • A detailed report stating your plans for the growth and development of your coaching business. 

Key sections of a coaching practice business plan

Coaching practice business planning is an essential step to ensure the success of your coaching business. A carefully devised coaching practice business plan has the following key sections.

1. Executive Summary

An executive summary is a brief overview of a business’s goals and objectives. An effective executive summary is one that covers key aspects like:

  • A summary of your business’s goals and objectives
  • A solid analysis of the market and new opportunities for your business
  • Growth potential
  • A brief description of your coaching practice business services

2. Mission, vision, and goal

The mission is a statement that describes the purpose of your venture and how you are going to help people such as using different methods and coaching techniques to bring people towards a better, wealthier, healthier, and happier life. 

Vision is a statement that states where you want to be in the market in the future, for example, to be among the most trusted life coaches in the world.

The goal is a description of broader outcomes that you want to achieve in the future such as to reach the top position in the coaching industry in Florida.

3. Management team

The management team section contains profiles of your management team and illustrates how you are going to assemble quality management consisting of qualified and dedicated professionals to support your business operations. 

4. Market analysis and target market

This section provides a thorough analysis of the coaching market. It highlights key aspects like growth potential, new trends in the market, and potential new opportunities presented by the market. It also illustrates the target market that your business should focus on and capitalize on new opportunities. 

5. Marketing strategies

The market strategies section focuses on how you will deploy different marketing strategies to draw more clients to your business by presenting different offers and enticing promotional activities.

6. Financial planning

This section focuses on how to generate income and sales as well as operating capital to achieve your goals and objectives. It contains four important financial statements: the income statement, the balance sheet, the cash flow projection, and the statement of shareholders’ equity. It also includes a brief explanation and analysis of these four statements.

You can use a business plan throughout all stages of your coaching business to guide it towards success. While it may take some time and energy to come up with a business plan, in the end it will be well worth taking the time to get it done right.

SPECIAL BONUSIf you would like step-by-step blueprints for generating a massive income from high paying coaching clients, I invite you to claim your FREE ACCESS to the “ Life Coach Salary Secrets” video toolkit.  Go Life Coaching Business Blueprint to get it FREE.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Just Health LLC: A Sample Health Coaching Business Plan

Below you will find a sample health coaching business plan you can use as a springboard to help you get started on organizing your own plan.

Just Health LLC: A Sample Health Coaching Business Plan

Sample health coaching business plans are a great resource to explore if you want to set up your own business in this niche.

A Sample Health Coaching Business Plan

Executive Summary

  1. Just Health is a health and fitness coaching program designed for people with physical health restrictions.
  2. Just Health provides low-cost, specialized workouts.
  3. Just Health provides easy meal recipes for specific diet needs.
  4. Founder has experience in this area due to her own health conditions.
  5. There is a big market for health and wellness, but not much of it focuses on those with specific health needs or restrictions.
  6. The business will be easily accessible from the home.

Company Description

Just Health, LLC was founded by Minnie Steelworth in 2021 when she realized, due to her own health needs, that there was a need for easily accessible health coaching programs specifically formatted for individuals with physical health restrictions. It provides easy, from anywhere access to health coaches and recipes customized to fit the individual’s physical and eating needs and/or restrictions.

The company strives to create a space where those with health conditions or restrictions can find customized exercises and recipes to help them live a healthy, high quality life on a low budget.

Industry Analysis

According to the Centers for Disease Control and Prevention, 1 in 4 people in the United States are living with a disability. Out of that group, 13.7% are specifically living with a physical disability. 

Statista Research Department published data in February 2021 showing that 87.4 million people in the United States used a health and fitness app in the year 2020. 

Evidence shows health and fitness apps are a popular way people work on their health goals. With the amount of people with smartphones or smart devices and the continuing development of technology, it stands to reason that they will continue to be popular. And with the number of individuals with physical disabilities in the United States alone, there is a clear need for a quality app they can access for their unique health and fitness needs and goals.

Products & Services 

  1. App-customizable with health goals, check-ins with a health coach.
  2. Pre-recorded exercise videos specific to different physical limitations.
  3. Live, one-on-one sessions with a personal health coach.
  4. Wide range of recipes for specific diet needs.
  5. Exercise and clothing merchandise.

Marketing Plan

  1. Start with social media and a website.
  2. Advertise outside medical facilities.
  3. Subscription incentives.
  4. 30-day free trial (with limitations)

Operational Plan

  • Timeline
  • Find personnel to create a quality app.
  • App creation (up to 3 months with testing).
  • Hire trainers to create exercise videos.
  • Hire dieticians for recipe creation.
  • Create a product sample.
  • Create a website.
  • Upload content to the app.
  • Make app accessible to the public and start marketing.
  • Create and sell merchandise.

 

  • Legal Needs
  • Make sure health coaches and dieticians are certified professionals.
  • Copyright the app and its contents.

 

  • Staff
  • Start with 2 dieticians and 5 health coaches.
  • Expand staff over time.

Financial Plan

  • Expenses – Research for competitive prices
  • Creating app
  • Marketing
  • Paying health coaches
  • Paying dieticians
  • Creating merchandise
  • Income
  • Subscriptions
  • Merchandise
  • Web hosting advertisements for other businesses

Conclusion

Having reviewed a sample health coaching business plan, you can be aware of what you need to include in your own business plan for it to be thorough, and a thorough, written-out plan will lead to starting a business with a strong foundation.

Would you like an endless stream of new coaching clients? Simply click the image to the right and email and I’ll send you free videos with step-by-step blueprints for generating a massive income from high paying coaching clients.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

 

Life Coaching Business Blueprint: Be an Entrepreneur

Are you a life coach who is looking to craft a life coaching business blueprint? To create a profitable and fulfilling career as a coach, you need to learn how to be an entrepreneur. 

Life Coaching Business Blueprint: Be an Entrepreneur

There has never been a better time in history to start your life coaching business, no matter how small it is. With many countries still facing new waves of Covid-19, there’s a growing hunger in the marketplace for personalized, trustworthy, practical and heart-centered life coaching advice. A highly skilled and passionate life coach can play an important role in assisting people to navigate crucial life’s challenges with confidence.

But, the path to building a successful life coaching business is another matter and you need a perfect life coaching business blueprint to realize your dreams. Here’s how you can build your coaching blueprint

Life Coaching Business Blueprint Rule #1: Avoid These Mistakes

A whopping 80% of new businesses fail in their first year. Of those that are left, 50% fail within the next two to five years. Do not let this happen to you. As a coach, you need to avoid the following three basic missteps that can kill your business dreams, taking your confidence and your money with them.

  • Choosing the wrong coaching niche

When you choose the wrong path, you never reach your destination. People fail to search their souls and find out what exactly embodies their full potential and self-expression. You need to choose a coaching niche that uniquely synchronizes with who you are so that you can inject passion and authenticity into your work.

  • Letting fear block your way

When you let fears like failure, inadequacy, mediocrity, etc. block your way, you cannot work freely and enthusiastically. Fear hinders your progress and you need to break the shackles of fear to realize your dreams.

  • Unable to create a vision and strategy

When you don’t have the vision to guide you, you’d probably end up somewhere else. Before making big decisions, set a powerful vision for your coaching business. Then, create a viable plan or strategy that is grounded in that vision. Vision and strategies are the key elements to driving your business to success.

Life Coaching Business Blueprint Rule #2: What You Have to Do

Now that you’ve learned the three mistakes that can hinder the success of your coaching business, here are three things you need to do when crafting your life coach blueprint.

  • Choose the right niche

In order to choose the right coaching niche, find your passions, strengths, unique value, your unique personality, and style. Dive deep into your soul and find all those precious pearls in the depths of your soul. Base your business around those priceless pearls and let them do their magic. 

  • Accept but manage your fear

When you can’t get rid of your fears, embrace them but turn your fears into your strengths. Develop a new and empowering attitude to subdue your fears and don’t ever let them get in your way.

  • Create a realistic vision and develop strategies accordingly

Create a compelling vision for your life coaching business to form solid foundations of a viable strategic plan. Let your business be inspired and guided by a compelling vision.

The Wrap Up

Your life coaching business blueprint needs to be impactful enough to guide you through each stage of starting and managing your business. Don’t wait and don’t hesitate because now is the time to create one. Take the necessary steps to start a business and be an entrepreneur. What you have to do is avoid making the three mistakes and focus on what you have to do.

SPECIAL BONUSIf you would like step-by-step blueprints for generating a massive income from high paying coaching clients, I invite you to claim your FREE ACCESS to the “ Life Coach Salary Secrets” video toolkit.  Go Life Coaching Business Blueprint to get it FREE.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community

Writing the Financial Part of Life Coach Business Plans

While many components of life coach business plans can easily be crafted, the financial section can be quite burdensome, as it requires some financial know-how. In this article, we explore how you can write the financial section of a life coach business plan.

Writing the Financial Part of Life Coach Business Plans

Life Coach Business Plans: How to Write the Financial Section 

The financial part is a key point of any business plan. Therefore, it must be written with a lot of attention. This makes it possible to convince investors who will be reading the business plan.

Thus, it is important to take note of certain points before starting the financial part. You must keep a clear objective in mind, which is to convince investors to fund your life coaching startup.

1. The four main financial sections

Normally, a good life coach business plan should include four sections that will highlight the finances of the company. Investors may be reluctant to commit to a project that lacks one of these sections. Specifically, the following will need to be considered:

The projected income statement: The coaching company’s projected profit and loss will be shown in this statement. This concerns the income as well as the expenses that the company will incur to function properly. When writing this section, you’re not providing actual data, but a financial forecast about the financial stats of the future.

Cash flow statement: This statement summarizes the net cash flow of the business for each month. In other words, your business’s cash inflows and outflows. A cash flow statement shows your company’s ability to meet monetary commitments on a timely basis.

The balance sheet: This statement is a snapshot of what your business owns (assets) and owes (liabilities), as well as the amount invested by shareholders. A balance sheet indicates the capital needs of a business and helps identify the allocation of resources and how much financing is needed.

The projected financing plan: A comparison between the existing financial resources and the extra funding needed will be highlighted in this table. In this section, stress the profitability of the business and why your business needs financing.

2. Meeting the expectations of the readers

The second step towards writing the financial section of a life coach business plan is ensuring that each section mentioned earlier meets the expectations and requirements of the readers. Different readers, for example, an angel investor, a venture capitalist or a banking institution, may have different requirements. So, find out what they need before crafting your financial plan.

3. Write honestly while remaining realistic 

Many business owners writing their business plans tend to think that inflating the numbers in the financial part will help them get a lot of financing. It is important to know that this can create an unfavorable situation for you and your company. Consequently, investors will not take the risk of validating the file or supporting the business since they will have difficulty trusting the figures.

Finally, always use “What-if” scenarios when projecting your financials and coming up with future plans. This would increase transparency and help the investor to understand the best, expected, and worst sides of your coaching business.

Special Bonus – Learn 32 ‘Guru’ Transformation Techniques when you click on the image at the top right. You’ll learn how to become a life coach in 30 days.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community