The Most Important Item on a Coach Business Plan

Writing a coach business plan? If you have a coaching business or are planning to start one, then you should be writing one. If you’ve had a coaching business for a few years and have achieved some measure of success without having a business plan, then power to you! But, you should still write one!

Coach Business Plan

Coach Business Plan – piksel ©

Why You Need a Business Plan

Whether you are starting a coaching business or a grave digging company, you need a business plan. Whether you are opening a one-person shop or a company with many employees, you need to create a business plan. Whether you plan to raise money or just take the starting funds out of your pocket, you still need a comprehensive and concise business plan.

Hear are a few reasons to have a business plan:

  • Depicts the organizational structure and type of business. Even if the business is one person, decisions need to be made on type of business (corporation, LLC, sole proprietorship, etc.)
  • Sets your values and goals down on paper. This is especially important for coaches as they must work within the framework of a set of values and run their business the same way.
  • Clarifies present direction and details a future vision. A coach business plan will describe your niche, marketing methods, target market, and action plans to reach your goals, while also providing a glimpse of the impact your business should have and where you see it in three, five, or ten years.
  • A comprehensive coaching business plan serves as a handy reference guide. As your business grows, it is easy to lose your way, forget your values, and stray from your goals. A visit to the business plan, can remind you of who you are as a coach and a business person.

The Most Important Section of a Coach Business Plan

A good business plans has many sections. These include:

  • Administrative
  • Mission Statement
  • Vision Statement
  • Values
  • Marketing and Promotion
  • Target Market
  • Niche

Every section in a business plan is important, but it can be argued that the vision statement is the most crucial to success. If you look up business plan samples and templates, most will suggest that a vision statement should be a sentence or two. I disagree.

A vision statement should be more detailed than just a sentence or two. It should clearly state where the business should be at several intervals. The coach business plan is all about measuring success, and if there are detailed “visions” for one year, three years, five years, and one, the business plan will be more valuable.

There should be alternate goals. You might list different directions – stay a one-person shop, expand with the addition of other coaches, or expand into multiple niches. You might also list alternate streams of income – books, DVDs, seminars, online coaching, etc. – and create basic plans which may or may not be followed, depending on the current market.

All Coaching Visions Matter

A coach business plan should be replete with various visions. It doesn’t mean, all visions have to come true – it merely means that a business plan should have a healthy does of reality, realistic motivation, and big dreams! Every possible vision matters – include it in the business plan and it may come true!

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Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

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