This one-page professional coach business plan template is designed for coaches who have already established their core coaching services and are now looking to grow their business by offering additional products or services.
What is a professional coach business plan?
A professional coach business plan is a document that describes the goals and objectives of your business, as well as its projected growth and profitability. It also outlines how you will use your time and money, including any marketing and sales efforts. The plan should include the following sections:
Vision
The first section of professional coach business plans should be called “Vision” and will outline what you want your business to be. The following questions will help you define your vision:
- What do you want this life coach business to be?
- What do you expect its impact to be on the world?
- How do you want it to stand out in an industry filled with life coaches, psychologists, counselors, consultants, healers, and therapists?
Once you’ve answered these questions, write down your vision in one sentence. For example:
“I want my coaching practice to be known as a place where people find real change through simple but effective techniques.”
Mission
Your mission statement is the foundation of your business plan. It’s an expression of your purpose and focus and helps you align with it. It should be clear, simple, and compelling. Here are some examples:
- “To help people learn how to think differently so they can make better decisions for their lives and businesses.”
- “To help busy professionals achieve more by learning how to build their capacity for optimal performance through leading-edge coaching techniques that empower them to live from a place of strength.”
Objectives
Objectives are the things you want to achieve. They should be specific, measurable, achievable, realistic, and time bound. Here are some examples of objectives:
- To provide coaching services for busy professionals who want to improve their performance at work.
- To increase my client base by 20% in the next 12 months by focusing on marketing myself and my coaching services to businesses in the local area.
Strategies
A strategy is a plan of action used to achieve an objective. Strategies are specific plans that you will use to achieve your dreams. They are the means by which you will achieve your goals and objectives. Your strategies should be measurable, flexible/adaptable, realistic/achievable, and time bound. They need a specified start date.
Plans
Planning is an essential part of the process. Planning is about identifying your goals and objectives and creating a plan to help you achieve them. You need to have a plan because it can:
- Help you to stay on track
- Avoid distractions
- Avoid failure
Target market
Your target market is the group of people you want to sell your product or service to. The most important part of defining your target market is that it should be defined according to the client’s needs and wants. You don’t want to define a target market based on demographics, geographic location, or other factors beyond their needs and wants. If you do this, it will lead you astray from developing products that genuinely meet their needs.
For example, if I’m trying to figure out my target market for my coaching business, I might ask myself: “Who can benefit from working with a professional coach?” If I decide that everyone who works in an office could benefit from this service, then I’ve just eliminated all sorts of potential clients who wouldn’t be interested in my services, like stay-at-home parents or retirees who would prefer not having another job outside their house or retirement community!
Pricing strategy
Once you’ve considered all these factors, you can begin to create a pricing strategy. To start with, it’s important to note that your prices should be based on the value you provide to your clients rather than what they’re willing to pay. In other words, if a client is willing to pay $1,000 for an hour-long session with you and their results are worth $2,500, that’s an excellent rate for them and one that makes sense for both parties.
Conclusion
It’s important to remember that your professional coach business plan will not be set in stone. You may need to make changes as your business grows and evolves but understanding these key elements before you begin can help you stay focused on what matters most.
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
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