What Do All Life Coaching Business Plans Need?

Life coaching business plans will be different from coach to coach. One life coaching practice may have specific things in their plan while another one may focus on something else. However, each life coaching business plan should have some specific items or categories. These are needed for a business plan that will effectively and efficiently help start and operate a life coaching business.

Life Coaching Business Plan

Every Business Should Have a Plan

A business plan is a formal statement of business goals, ideas, action plans, background information, and details on the mission and vision. Every business should have a plan – otherwise you should just plan on failing!

6 Reasons Ever Business Needs a Business Plan

Every business needs a plan because:

  • To avoid big and costly mistakes
  • To counterbalance your emotions and impulses.
  • To make certain everyone involved with the business is on the same page.
  • To set specific objectives and goals
  • To create a plan for starting your business and for the continued operation of the business, at least for the short term.
  • To seek business investment or capital

There are many other reasons to create a business plan, and life coaching is no exception. You can find many life coaching business plans around the Internet, for free or for a fee, to use as a template, but here is simple outline that will get you started.

A Simple Outline For All Life Coaching Business Plans

This is a basic outline for all life coaching business plans. Yours will certainly be a little different, and each life coach should customize it to fits the needs of your practice.

Background

This section should provide the basics on the segment on the coaching industry you will focus on, your experience and training, the state of the competition, the state of the industry, and details for starting the business. You can write it as if you are telling a story about you, and how you will start your business (office space, licensing, credentials, items needed for work, etc.)

Vision

This is the section to dream big. You should include some short term projections (where do you want to be and how much income do you want to make in one year), and long term goals (I want to be a famous life coach with a TV show!). A vision is something that gets you moving in the morning and something that motivates you to work those extra hours.

Mission

This is a bit different than the vision. The mission is more about what outcomes you want to find for your clients and how you want to change the world (or, at least, your little corner of it!). All life coaching business plans should have both a vision and a mission statement.

Values

All business plans should have a section on values, and life coaching should place a strong emphasis on these values. You are a professional taking money to help people improve their lives – what values drive you and your practice? What values can you teach your clients? What values will you bring to the table in your sessions? What values define you?

Marketing and Promotion

Ah, sales. Most coaches hate marketing. The ones who have achieved phenomenal success have all excelled at marketing. Or, have hired a team of great marketers to promote their services. You have to be able to outline a plan on how you will get your message out to the world, or at least out to your target market. You have to outline a way you will measure success or failure for a specific plan, and a strategy to create new marketing plans in the future. Marketing is one of those necessary evils, but all life coaching business plans must have details on how you will promote your life coaching practice.

FREE Video Course: How To Build a High Paying Coaching Business

Comments

  1. Micah says

    Great post there. I totally agree with all your thoughts.

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