executive coaching business plan

Coaching Business Plan Template

Written by Dave Lavinsky

Coaching Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their coaching companies. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a coaching business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Coaching Business Plan?

A business plan provides a snapshot of your coaching business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Coaching Business

If you’re looking to start a coaching business or grow your existing coaching company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your coaching business to improve your chances of success. Your coaching business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Coaching Businesses

With regards to funding, the main sources of funding for a coaching business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for coaching companies.

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How to write a business plan for a coaching business.

If you want to start a coaching business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your coaching business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of coaching business you are running and the status. For example, are you a startup, do you have a coaching business that you would like to grow, or are you operating a multiple coaching businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the coaching industry.
• Discuss the type of coaching business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of coaching business you are operating.

For example, you might specialize in one of the following types of coaching businesses:

• Business coaching: A business coach specializes in helping business owners clarify their business’s vision and goals.
• Career coaching: A career coach specializes in helping individuals reach their professional goals.
• Life coaching: A life coach specializes in helping people make positive progress in their daily lives, relationships, and careers.
• Performance coaching: A performance coach specializes in helping individuals improve their performance abilities using techniques similar to a sports coach.
• Wellness coaching: A wellness coach specializes in helping individuals develop and maintain healthy habits.

In addition to explaining the type of coaching business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of clients served, the number of cases with positive outcomes, reaching $X amount in revenue, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the coaching industry. While this may seem unnecessary, it serves multiple purposes.

First, researching the coaching industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your coaching business plan:

• How big is the coaching industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your coaching business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your coaching business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of coaching business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other coaching businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes other types of self-development services, therapists, counselors, and online support groups. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of clients do they serve?
• What type of coaching business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you make it easier for clients to acquire your services?
• Will you offer services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a coaching business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of coaching company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide performance coaching, executive coaching, health and wellness coaching, or career coaching services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the services you offer and their prices.

Place : Place refers to the site of your coaching company. Document where your company is situated and mention how the site will impact your success. For example, is your coaching business located in a busy retail district, a business district, a standalone office, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your coaching marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your coaching business, including answering calls, planning and providing coaching sessions, billing clients and collecting payments, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth session, or when you hope to reach $X in revenue. It could also be when you expect to expand your coaching business to a new city.  

Management Team

To demonstrate your coaching business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing coaching businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in coaching or running a small business.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you see 5 clients per day, and/or offer group coaching sessions? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your coaching business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a coaching business:

• Cost of utilities, internet service, and office supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and office furniture

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a list of payment forms you accept.  

Writing a business plan for your coaching business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the coaching industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful coaching business.

Coaching Business Plan Template FAQs

What is the easiest way to complete my coaching business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your coaching business plan.

Where Can I Download a Sample Life Coach Business Plan PDF?

You can download our sample life coach business plan pdf here.

How Do You Start a Coaching Business?

Starting a coaching business is easy with these 14 steps:

• Choose the Name for Your Coaching Business
• Create Your Coaching Business Plan
• Choose the Legal Structure for Your Coaching Business
• Secure Startup Funding for Your Coaching Business (If Needed)
• Secure a Location for Your Business
• Register Your Coaching Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Coaching Business
• Buy or Lease the Right Coaching Business Equipment
• Develop Your Coaching Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Coaching Business
• Open for Business

Learn more about how to start your own coaching business .

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OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business planning consultant can create your business plan for you.

Other Helpful Business Plan Articles & Templates

Coaching Business Plan Template

Written by Dave Lavinsky

Coaching Business Plan

You’ve come to the right place to create your Coaching business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Coaching businesses.

Below is a template to help you create each section of your Coaching business plan.

Executive Summary

Business overview.

Premier Health Coaching Services Is a startup health coaching company located in Seattle, Washington. The company is founded by Tracy Hoffman, a health coach who holds a Master of Science degree in Food Science and Nutrition from the University of Washington. She is a certified health coach in the state of Washington, and has successfully counseled over 300 clients during the past six years as a health coach employed by a corporate medical health plan provider. Her expertise has brought her “celebrity” status. Her blog and podcasts have brought over 20,000 followers as she speaks about nutrition and health matters. Her client base of over 300 clients has already committed to follow her when she makes this professional move to start her own company, Premier Health Coaching Services.

Premier Health Coaching Services will provide a comprehensive array of health-related products and services, including holistic care, skeletal and muscular alignments, sports nutrition, nutrition and diet support, balanced lifestyle counseling and other health services. This will be a broad-based service, meeting the needs of individuals from all walks of life and in all health-conditional lifestyles. Premier Health Coaching Services will be the top-performing health coaching company within the Seattle, Washington regional area.

Product Offering

The following are the services that Premier Health Coaching Services will provide:

• Individual and group health coaching services
• Nutritional and physiological body assessments
• Skeletal and muscular alignments
• Holistic healing: aromatherapy, acupuncture, massage
• Physical therapist services
• Weight assessment and counseling
• Work-life balance alignments
• Balanced lifestyle counseling
• Product sales: nutritional supplements; health-related products

Customer Focus

Premier Health Coaching Services will target everyone in the Seattle, Washington regional area, including Bellingham and other outlying areas. In particular, they will target those individuals who seek assistance with physically therapeutic and lifestyle balance services. They will also target those individuals who are sports professionals and those who are dedicated to a sports lifestyle. Adults of all ages, including seniors, will be targeted as customers and Premier Health Coaching Services will address the needs and serve each individual with the best possible service and support team.

Management Team

Premier Health Coaching Services will be owned and operated by Tracy Hoffman. She has recruited her former associates, John Blackwell and Melissa Rodriquez, to become associates in leading her team.

Tracy Hoffman holds a Master of Science degree in Food Science and Nutrition from the University of Washington. She is a certified health coach in the state of Washington and has successfully counseled over 300 clients during the past six years as a health coach employed by a corporate medical health plan provider. Her expertise has brought her “celebrity” status, and her blog and podcasts have brought over 20,000 followers as she speaks about nutrition and health matters. Her client base of over 300 clients has already committed to follow her when she makes this professional move to start her own company, Premier Health Coaching Services.

John Blackwell is a well-known and much-admired health coach, overseeing 100 clients on a regular basis. He specializes in sports nutrition and already has the commitment from each client to follow him as he makes this professional move to Premier Health Coaching Services.

Melissa Rodriquez is much-beloved by her weight management and nutritional balance clients and is known for her emphasis on holistic solutions to health problems. Her client base of over 100 clients has committed to follow her as she makes this professional move to Premier Health Coaching Services.

Success Factors

Premier Health Coaching Services will be able to achieve success by offering the following competitive advantages:

• Friendly, knowledgeable, and highly qualified team of professional health coaches, counselors, nutritional experts, and holistic care providers.
• A comprehensive menu of services available during daytime and evening hours, including health coaching, lifestyle and nutritional coaching, holistic care, physical therapy and natural health and healing products.
• Premier Health Coaching Services offers modest pricing, setting a price structure that best meets the health insurance plans of all individuals. Comparatively, the service is a lower-cost option than competitors.
• Products offered, including nutritional supplements and natural health products, are priced lower than retail health food stores.

Financial Highlights

Premier Health Coaching Services is seeking $200,000 in debt financing to launch its Premier Health Coaching Services. The funding will be dedicated toward securing the location space and purchasing office equipment and supplies. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs for the marketing campaigns. The breakout of the funding is below:

• Office space build-out: $20,000
• Office equipment, supplies, and materials: $10,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph outlines the pro forma financial projections for Premier Health Coaching Services.

Company Overview

Who is premier health coaching services.

Premier Health Coaching Services is a newly established full-service coaching and health management company in Seattle, Washington. Premier Health Coaching Services will be the most reliable, total health-directed, and effective choice for clients throughout Seattle and the surrounding communities. Premier Health Coaching Services will provide a comprehensive slate of coaching services, natural health treatments, and natural products for all clients to utilize. Their full-service approach includes an extensive list of health and holistic-related services and products.

  Premier Health Coaching Services will be able to manage and service up to 50 clients at any time, with the ability to increase hours of operation to add more clients. The team of professionals are highly qualified, certified, and experienced in coaching, life-balance counseling and nutritional health. Premier Health Coaching Services removes all the headaches and issues of searching for and finding the right fit for the services of various coaches in multiple locations, as all services are now offered under one roof. In addition, Premier Health Coaching Services will be known for delivering the best customer service.

Premier Health Coaching Services History

Since incorporation, Premier Health Coaching Services has achieved the following milestones:

• Registered Premier Health Coaching Services, Inc. to transact business in the state of Washington.
• Has over 50 client contracts already in place with Premier Health Coaching Services. Has natural health providers in acupuncture, massage, aromatherapy, and physical therapy under long-term contracts.
• Began recruiting a staff of assistants and office personnel at Premier Health Coaching Services.

Premier Health Coaching Services

The following will be the services Premier Health Coaching Services will provide:

Industry Analysis

The health coaching and related services industry is currently at $15,653M, and is expected to grow over the next five years to over $23,587M in 2028, with a CAGR of over 7% during the forecast years. This substantial increase will be due to clients who are increasingly aware and in need of better performance in physical activity, nutrition and eating habits, weight management, diabetes prevention, and medication adherence.

These specific areas are all covered under health coaching, group coaching and lifestyle coaching, which are increasingly in step with the continued growth and concern regarding these health-condition specific issues.

The growth will be driven by key players in the industry, such as major health insurance companies, governmental oversight and other agencies, who will adopt effective strategies to combat continuing health conditions. As they do; the industry sector is expected to expand further, presenting numerous opportunities for advancement.

Customer Analysis

Demographic profile of target market.

Premier Health Coaching Services will target those individuals requiring health coaching, nutritional counseling, holistic care and other natural services in Seattle, Washington. They will target former clients who may choose to contract for services with this new all-inclusive slate of services, those who are personal contacts through years of professional experience, corporations with employee health services under expiring contracts, and individuals who are referred by professionals throughout the region.

The precise demographics for Premier Health Coaching Services are:

Customer Segmentation

Premier Health Coaching Services will primarily target the following customer profiles:

• Individuals seeking contracted health coaching and life counseling services
• Insurance companies seeking expanded services for insured clients
• Corporations seeking health service contracts on behalf of employees
• Individuals seeking natural health and healing products

Competitive Analysis

Direct and indirect competitors.

Premier Health Coaching Services will face competition from other companies with similar business profiles. A description of each competitor company is below.

Pacific Health & Physical Therapy Group

Pacific Health and Physical Therapy Group provides muscular, skeletal and physical therapy for individuals who are referred to the service by employers under contract with the group. Contracts are yearly, endorsed by the corporate human resources managers. The group provides a variety of services for clients, including a therapy spa, physical therapy services, muscular and skeletal exercise routines, and other kinesiology-related services.

The promise by Pacific Health & Physical Therapy Group is to provide accurate, detailed plans to better the lives of their clients through muscular and physically therapeutic services. The emphasis is on corrective treatments, including exercise. The Pacific Health & Physical Therapy Group provides a 4-Step Treatment Plan that covers diagnosis; analysis of treatment; care routine; extended therapy. This is a plan that is personally designed for each client and care providers follow the plan during each client visit.

Seattle Physical Therapy Associates

Seattle Physical Therapy Associates is composed of ten physical therapists, each with a roster of clients who routinely book a minimum of twenty therapy visits each. This solidifies the basis for revenue for Seattle Physical Therapy Associates and creates an on-going program of increased health properties for clients as visits continue.

Seattle Physical Therapy Associates is focused on providing physical therapy; as such, the pricing for services is higher than other full-service centers. The motto is: Creating the Best Environment for Our Clients’ Best Results. Clients are treated at least twice a week, as physical therapy continues. As the favorite physical therapy group in Seattle, the company can demand higher pricing levels, and those levels are paid by primarily corporate clients, as a result.

Ballard Holistic Health Company

Ballard Holistic Health Company is headquartered in Ballard, located in northwest Seattle. The region is a mixed-population of older university students, young couples with children, and senior residents with longevity in the region. Housing is a mixture of condos converted to apartments, older single home dwellings and multi-use leased homes. The clientele for the Ballard Holistic Health Company is generally seeking holistic treatments as curative or preventative alternatives to western medicine. The company is housed in a former home, large enough to showcase natural health and healing products. Weekly classes directed to nutrition, healthy living styles, and vegan/vegetarian living topics are discussed in group sessions. Merchandise for sale includes books, tapes, vegan foods and protein alternatives, such as plant-based foods. Also offered are a wide array of natural health products and nutritional supplements.

Competitive Advantage

Premier Health Coaching Services will be able to offer the following advantages over their competition:

• A comprehensive, all-inclusive menu of services available during daytime and evening hours, including health coaching, lifestyle and nutritional coaching, holistic care, physical therapy and natural health and healing products.
• Products offered, including nutritional supplements and natural health products, are priced lower than direct competitors.

Marketing Plan

Brand & value proposition.

Premier Health Coaching Services will offer the following unique value proposition to its clientele:

• Highly-qualified team of certified professionals who are able to provide a comprehensive slate of services and products to meet consumer demand for solutions for medical conditions, lifestyle choices, and other physical or mind-body needs.
• Substantial number of long-term contracted clients, as well as corporate clients who utilize services for employees.
• Reliable natural health and healing products sold below retail costs at competitive natural product stores.
• Pricing structure for corporate and individual clients is modest and reasonable.

Promotions Strategy

The promotions strategy for Premier Health Coaching Services is as follows:

Word of Mouth/Referrals

Premier Health Coaching Services has built up an extensive list of contacts over the years by providing exceptional service and skilled expertise for clients. They have communicated to Premier Health Coaching Services that they will continue renewing their contracts because they are highly-satisfied with the services provided at the former place of business. Once advised by the professionals that they were leaving the former company, the clients were eager to sign new contracts to continue coaching services with Premier Health Coaching Services. Former and current clients were also willing to offer referrals and spread the word of the new company starting comprehensive services just ahead.

Professional Associations and Networking

Tracy Hoffman, John Blackwell and Melissa Rodriquez are each well-established within their chosen fields and will spread the word of the new startup within their professional associations. Networking among corporations within the region will also begin, as corporate clients can offer large, long-term contracts for employees who require multiple visits or treatments.

Social Media Marketing

With the high number of followers who track Tracy Hoffman, the use of social media marketing will be pivotal to the startup. Multiple social media marketing campaigns will be launched, identifying the professionals who are starting the company and inviting new followers to engage with each via posts and comments. Former and current clients will also be included in short video reels, offering testimonials regarding the service received by these professionals. A social media marketing manager will be hired for three months to cover the costs of startup campaigns.

Website/SEO Marketing

Premier Health Coaching Services will utilize the services of the social media marketing manager to create website content and images to announce the opening of the company. The website will be well organized, informative, and list all services that Premier Health Coaching Services is able to provide. The website will also list their contact information and link to an easy reservation site for clients to book appointments online. The social media marketing manager will also oversee SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Seattle health coaching” or “natural health or holistic services”, Premier Health Coaching Services will be listed at the top of the search results.

The pricing of Premier Health Coaching Services will be moderate and on par with competitors so customers feel they receive value when purchasing their services.

Operations Plan

The following will be the operations plan for Premier Health Coaching Services. Operation Functions:

• Tracy Hoffman will be the Owner and President of the company. She will oversee all staff and manage client relations. She has spent several months recruiting the executive staff: members:
• John Blackwell, a well-known, certified, and much-admired health coach, will be the Vice President, overseeing 100 clients on a regular basis. He specializes in sports nutrition.
• Melissa Rodriquez, a professional counselor in weight management and nutritional balance, will be the Strategic Manager. Her client base of over 100 clients has committed to follow her as she makes this professional move to Premier Health Coaching Services.
• Gary Ragan, an accountant with ten years of experience, will become the Staff Accountant, providing all client accounting, tax payments, and monthly financial reporting.

Milestones:

Premier Health Coaching Services will have the following milestones complete in the next six months.

• 5/1/202X – Finalize contract to lease company staff, client and workroom space
• 5/15/202X – Finalize personnel and staff employment contracts for the Premier Health Coaching Services
• 6/1/202X – Finalize contracts for Premier Health Coaching Services corporate clients
• 6/15/202X – Begin networking at industry events
• 6/22/202X – Begin moving into the Premier Health Coaching Services building location
• 7/1/202X – Premier Health Coaching Services opens its office for business

Tracy Hoffman holds a Master of Science degree in Food Science and Nutrition from the University of Washington. She is a certified health coach in the state of Washington, who has successfully counseled over 300 clients during the past six years as a health coach employed by a corporate medical health plan provider. Her expertise has brought her “celebrity” status, as her blog and podcasts have brought over 20,000 followers. She is dedicated to nutrition and health-balance matters. Her client base of over 300 clients has already committed to follow her when she makes this professional move to start her own company, Premier Health Coaching Services.

Financial Plan

Key revenue & costs.

The revenue drivers for Premier Health Coaching Services are the fees they will charge to the clients for their services. Secondary revenue drivers will include the natural health and nutritional supplement products sold at the company location.

The cost drivers will be the overhead costs required in order to properly staff Premier Health Coaching Services. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

Funding Requirements and Use of Funds

Premier Health Coaching Services is seeking $200,000 in debt financing to launch its health coaching and natural health service company. The funding will be dedicated toward securing the location space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the social media marketing and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of Contracted Clients Per Month: 1,200
• Average Fees per Month: $50,000
• Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, coaching business plan faqs, what is a coaching business plan.

A coaching business plan is a plan to start and/or grow your coaching   business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Coaching  business plan using our Coaching Business Plan Template here .

What are the Main Types of Coaching Businesses?

There are a number of different kinds of coaching businesses , some examples include: Business coaching, Career coaching, Life coaching, Performance coaching, and Wellness coaching.

How Do You Get Funding for Your Coaching Business Plan?

Coaching businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Coaching Business?

Starting a coaching business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Coaching Business Plan - The first step in starting a business is to create a detailed coaching business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your coaching business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your coaching business is in compliance with local laws.

3. Register Your Coaching   Business - Once you have chosen a legal structure, the next step is to register your coaching business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your coaching business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Coaching   Equipment & Supplies - In order to start your coaching business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your coaching business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Learn more about how to start a successful coaching business:

• How to Start a Coaching Business

How to Craft your coaching business plan in 7 simple Steps

April 25, 2024

Are you eager to launch your coaching business but feeling overwhelmed about where to start?

You’re not alone! 

Many aspiring entrepreneurs struggle with the initial steps, especially when it comes to drafting a solid business plan, including me!

In this article, I’ll share how I crafted my coaching business plan, and you can do it too. 

Let’s dive into the world of business planning, where clarity meets strategy.

In Brief : How to Craft your coaching business plan in 7 simple Steps

• Step 1: 📝 Executive Summary – Craft a compelling summary that encapsulates your business vision, mission, and core elements like the business name, owner, and location, setting the stage for what follows.
• Step 2: 🗂️ Business Description – Detail your coaching services, niche, and operational mechanics. Explain how these elements work together to meet the needs of your clientele.
• Step 3: 🔍 Market Analysis – Conduct a thorough analysis of your target market and competition. Use this data to tailor your services and pinpoint market opportunities.
• Step 4: 📈 Marketing Strategies – Develop a comprehensive marketing plan that includes digital and traditional methods to attract and retain clients, ensuring your brand stands out.
• Step 5: ⚙️ Operations Plan – Outline your business’s operational structure, including the logistics of daily operations and the roles of your team members.
• Step 6: 💰 Financial Planning – Forecast your business’s financial health with detailed budgeting, pricing strategies, and expected financial outcomes.
• Step 7: 🚀 Implementation and Growth – Plan for the future by setting precise milestones for business growth and scalability, and prepare strategies for adapting to changes and expansions.

Do you Need to Have a Business Plan for Your Coaching?

A few years ago, I was just like you—excited yet baffled about the right steps to take in starting my coaching business. I dabbled in social media, attended conferences, tried podcasting, and explored various other avenues. 

Despite my efforts, the results were far from what I needed. It felt like I was constantly moving, but not in the right direction.

Then it clicked. I realized that diving headfirst into business without a well-thought-out plan was like sailing without a compass. 

So, I took a step back and started from scratch, this time with a clear strategy in mind. I laid out a business plan that not only guided my business to success but also continues to guide me today.

From understanding the essence of a business plan to learning how to draft one that reflects your vision and goals, I’ll walk you through every step so that you can create your own successful coaching business . 

Whether you’re a life coach or specialize in another area, creating a focused business plan is crucial. It brings professionalism and lays out a roadmap to achieve your business objectives.

1. Executive Summary

Start your journey right by crystallizing the essence of your coaching business.

This section captures the heart and soul of your venture, outlining your vision and mission succinctly. It’s the elevator pitch that introduces readers and potential clients to the core of what you do and why you do it.

Business Name, Owner, Location

Here’s where your coaching business starts to come alive. This section introduces the name of your business, the visionary behind it, and the strategic location from which you’ll operate.

This information is really important because it helps shape how people see your business. It’s like the foundation of your business’s reputation and operations.

Including these details in your business plan is key because they define who you are as a business.

They also help everyone involved, like potential partners or investors, understand who’s running the business and where it’s happening.

The name of your business helps set the mood and gives a first impression, the owner’s story adds trust and shows experience, and the location can make a big difference in who your customers are and how you run things.

This basic info helps you connect with the right people, make smart choices, and get the support you need to grow.

Whatever you envision for your venture needs to be described in this section. You need to answer a few questions here to start your coaching business plan: Why are you starting your coaching venture?

What is your vision for your coaching business?

Do you want to revolutionize the coaching industry?

What will set you apart from the crowd?

You have to explain all this here to show your business farsightedness. This will give you direction to achieve your goals and will keep you focused.

It gives people energy and inspires them to make change happen. V ision is a visual image of your dream or idea which you want to achieve through your business.

After you describe your business vision, you need to write a mission statement that describes your business. The mission is the goal of your venture and is very important for your coaching business plan.

In my experience, mission plays a vital role, as this seven-letter word drives our professional and personal lives.

In this section, you need to be clear about your goals and be ready to answer the following questions:

What change do you want to bring in people?

How do you want to help others with your coaching program?

Who can benefit from your program?

Are you passionate about bringing change through your coaching business?

Think about these questions and try to answer them so you can visualize your mission.

2. Business Description

Write about your business in this section so that people can get information about it. It is vital to mention your niche, services, and products in your coaching business plan.

Here, you have to select the niche of your coaching practic e . Based on my first-hand experience, the coaching niche will give a clear picture of your business. It will help you define your products and services too.

Starting from life coaching, health coaching, career coaching and executive coaching, the list is endless.

See where your passion lies, and then get started.

Set Your Services

Say, for example, that some clients want detailed plans while others are simply looking for guidance.

My personal experience tells me that offering multiple tiers of service is the best way to increase foot traffic . 

Many coaches have various coaching sessions, like once a week, twice a week, or three times a week. Clients can select the coaching sessions depending on their requirements.

Set Your Billing Methods

Will people be able to pay electronically?

What about paying by checks?

How many days do they have past due before services will no longer be continued?

You need to define how payments can be made in your coaching business plan.

Set Up Your Website

I didn’t make a fancy website. I just highlighted how I can serve my clients. Don’t forget to include your certifications and licenses .

My successful business is proof that testimonials are like adding a cherry to a cake. I believe it can influence people greatly.

Consult a web designer too. Do you want people to contact you directly through the site? If yes, then a proper address is a must.

3. Market Analysis

The next step in crafting your coaching business plan is to understand your market. It is key to effective positioning.

This section delves into who your ideal clients are and what the competitive landscape looks like, helping you strategize on how to best meet market needs.

Analyze your Target Audience

Once you have your niche defined, the next step is to do research on the target audience. This is an essential point for any coaching business plan.

You do not have to work with them all. Do a little survey to see who needs your coaching sessions.

So how can you do this?

Firstly, ask questions like:

Is your business niche for college graduates who are seeking a job?

Is it for business executives who want to grow their business?

Is it for women groups looking to work from home?

When creating my own plan, I found that asking the right questions helped me narrow down my ideal coaching client . This helped me create marketing ideas in a much more effective manner.

Analyze your Competition

You need to know your competitors, as this will give clarity on the level of competition.

You have to plan how to set your business apart from your competitors.

What is it that you could provide that others are unable to?

One of the experts I consulted advised me to look at competitors as a source of information. Further, he added, give yourself time to research what they are offering.

How much do they charge?

What are their strengths?

I checked how my competitors marketed themselves. But I didn’t want to do the same.

It was time for me to identify something which I could provide better than others.

I knew that career coaching was something I could do best. I started brainstorming ideas to differentiate myself from competitors. Next was to implement consultation calls and sales strategy.

What did I do to make it more meaningful? How to differentiate? Hence, I had to decide my unique selling point (USP) .

4. Marketing Strategies

After you have your market analysis down, it is now time to present your services to the right people.

How will people notice you?

Will you do the marketing and sales all by yourself?

Do you want to appoint someone for it?

What sales strategy will you implement? How do you want to present your sales team?

How to create a marketing plan?

Marketing can be daunting at first glance.

It took me a while before I could settle on my approach to marketing as well. Through my experience, I was able to pick up the tips and tricks of the marketing trade .

Once you have picked out what strategy works for you, note them down in this section.

5. Operations Plan

Your coaching business’s backbone—operations keep your coaching services running smoothly.

Here, you’ll detail your business structure, staffing, and the logistical setup of your operations.

Business Structure

Image from Pixabay.com

What should the management structure of your business be?

As the founder of a successful coaching business, I can assert that a crucial part of your coaching business plan involves defining the organization’s structure. This further leads to roles and functions.

I started with a few people. But eventually, it became big. Luckily, I had made the structure beforehand. Things became simpler.

I had hired assistant coaches. This was the point when my client base doubled. I used to generate passive income by hiring them. I had fixed a percentage of the fee for myself. This is how you can grow your business. In this section, you need to answer questions like:

Do you need ambassadors to promote your coaching business?

Will you have partners or employees?

How many people do you want to hire? Who can support you well in managing your business?

I had various people who helped me grow my business. And with my years of experience in this field, I can help you with it too.

Equipment And Set-Up Requirements

When I planned to market my coaching business, I knew I wanted to set it up entirely online.

So I listed down a few types of equipment required to start in my coaching business plan.

I was aware that video conferencing will be part of my work. Hence, I downloaded the needed software and purchased a quality headset.

I noticed many of my peers record calls and give them to their clients so they can review the session. Don’t you think that helps in gaining long-term clients?

For this, I bought a recorder. It is used to record all video and audio calls and share the sessions with clients.

To effectively interact with my clients, I set up proper CRMs and a proper website.

I’ve listed down my best finds in the resources section below .

6. Financial Planning

Now comes the budget plan. Without money, a business cannot grow, and a coaching business plan will be incomplete without it.

I found many coaches who charged a modest fee while starting a business. This is because they felt their experience was low. Hence, they charged low.

Do you think that is justified? They may get more work but remain underpaid. Will you like working for a client if you are paid less?

Such instances taught me to plan my fee structure. I could confidently ask for the fee according to my worth. I wanted to avoid clients who love bargaining.

Next, you need to outline your financial model .

You need to add the following things to the model:

• Start-up cost : Do you need to lease an office space? How much would the lease be? Do you need a computer and the internet?
• Financial projections : What all do you need to include in a profit and loss statement?
• Funding through investors : Do you need a loan to support your business?

Ask if your audience can pay your rate? How much does the target audience earn annually?

7. Implementation and Growth

Planning for the future is crucial. This final section focuses on setting timelines, monitoring progress, and scaling your coaching business to meet evolving demands and growth opportunities.

You have to decide timelines for your business. Business planning should be done as per these timelines and monitored at intervals.

I chalked out four different timelines in my coaching business plan, and they are as follows:

Annual Planning

Set your yearly plan. I always devote some time and attention to yearly goals. For example, where would I see my business in a year?

My yearly plan includes both my business planning and my life planning. This is because everything is connected at various levels.

Quarterly Planning

This involves regular checking. I schedule all the planning sessions on my calendar 3 months in advance.

I aim to make these appointments a top priority. I don’t let anything get in my way of planning, and I am ready with solutions for every obstacle.

Monthly Planning

I used to sit at the beginning and end of every month for an hour. This involved checking the priority projects for the upcoming days.

Weekly Planning

I used to do weekly planning on Friday afternoons, mainly because I relax on weekends. For the coming week, I noted my priorities.

There were questions that I asked, like “How to allocate time to meet my weekly commitments?”

Evaluation and Scaling

Stepping into the future of your coaching business requires both continuous evaluation and strategic scaling. This section isn’t just about expanding—it’s about expanding wisely.

This section of the plan outlines how to assess business performance and adjust strategies to not only meet but surpass growth objectives. Consider this both a health check and a growth strategy for your business.

In clear terms, this involves setting up mechanisms to regularly review what’s working and what needs improvement. Gathering feedback, monitoring progress, and analyzing outcomes are crucial.

It’s not just about data; it’s about preparing for growth. Whether that means broadening the team, enhancing services, or extending market reach, each growth step is planned to ensure it is manageable and aligned with the business’s core values and objectives.

This approach ensures that expansion is sustainable and remains focused on delivering outstanding value to clients.

This final step might seem like too much, but it is one you cannot miss out on to grow your coaching business.

But here’s the good part: You don’t have to do it alone. We’re here to guide you and cheer you on every step of the way . You got this!

As we wrap up, I hope the insights shared here have empowered you to create a structured and effective business plan for your coaching venture.

Crafting a solid plan is crucial, not just for guiding your business but for adapting as your enterprise grows.

If you have any questions about the business planning process or wish to share your own experiences and insights, feel free to leave a comment below.

Resources for your Coaching Business

As a coach, it’s crucial to have the right resources at your fingertips. We’ve put together a curated list to support your journey to craft your custom coaching business plan.

This list includes:

Apps and CRMs

• Keap : Perfect for small businesses needing CRM plus marketing automation. Keap helps organize client information, automate marketing campaigns, and manage leads efficiently.
• Acuity Scheduling : Customizable and integrates well with other tools like Zoom and payment processors.
• PayPal : Payment processing tool that is widely used, secure, and offers easy integration.

Guides and Tools

• Canva for Branding – An easy-to-use graphic design tool that helps you create professional logos and marketing materials.
• Moz SEO Guide for Beginners – A comprehensive tutorial that teaches the basics of SEO to help you improve your website’s visibility in search engines.
• Wix for Creating Professional Websites – A step-by-step guide to building your own website using Wix, tailored specifically for coaching professionals.
• “ Co-Active Coaching: Changing Business, Transforming Lives ” by Henry Kimsey-House, Karen Kimsey-House, Phillip Sandahl, and Laura Whitworth – This book provides a foundational philosophy for professional coaching.
• “ The Prosperous Coach: Increase Income and Impact for You and Your Clients ” by Steve Chandler and Rich Litvin – Offers strategies for building a successful coaching business while making a profound impact on clients’ lives.

Financial Planning and Management Tools

• QuickBooks : An accounting software ideal for small businesses to manage accounts with ease.
• Mint : Helps with personal and business financial planning and budgeting.

Legal Resources for Small Businesses

• U.S. Small Business Administration (SBA) : Information on business registration, legal structures, and licenses.
• Gov.uk (for UK based businesses) : Guidance on starting and running a business in the UK, including legal obligations.

Each resource was chosen based on its practical utility, ease of access, and the most current information available.

From established industry platforms to cutting-edge tools and insightful publications, our editorial team has researched, fact-checked, and curated a diverse mix of resources to cater to various learning styles and needs.

This ensures you have access to the best tools and knowledge, helping you build a solid coaching business plan.

Frequently Asked Questions (FAQs)

What are the steps of a business plan.

A coaching business plan includes the following steps – making a list of the strengths and weaknesses of the company, moving on to a SWOT analysis, outlining a short-term and long-term strategy, creating project benchmarks, and defining the key success factors. Another additional step is how to price the business and launch a new product.

What Must An Entrepreneur Do After Creating their Coaching Business Plan?

A list of tasks that entrepreneurs should complete after setting up their coaching business plan includes: obtaining startup capital, researching trade laws, reviewing business licenses, and choosing a company name.

What Is the Purpose of Writing a Business Plan Before Entering the Market?

Creating a coaching business plan before entering the market can prove beneficial because it allows entrepreneurs to look at the big picture of the company, from the way it will be run to its goals and general purposes. It also gives entrepreneurs an opportunity to look at what they need to do in order to successfully and efficiently run their business.

What Should I Include In A Business Plan?

Every business plan needs to include the questions and answers of these three fundamental issues: what do you want your company to accomplish, why should people buy what you sell, and how will you make it happen? It is important to take this opportunity to be very thorough with your business plan.

How to Make a Business Plan?

To make a business plan, you must know what kind of business you want it to be. You will need to research your market, competition, and finances. If you don’t, then you run the risk of running out of money or building a business that is unable to make a profit.

How Do You Draft A Coaching Plan?

You can draft a coaching plan through plenty of documents and templates that can be used as a guide to help you brainstorm and organize your own thoughts. One great resource is the Coaching Business Plan Workbook and Guide by Mary Baldwin and Amy Levin-Epstein.

How To Write A Business Plan Step By Step?

The precise step-by-step guide on how to write a business starts with first outlining what your business will be and what your long-term goal is. Next, it’s important to start with developing your company’s mission statement, detailing who your customer is and what they want. This is followed by conducting market research and researching your competition.

ABOUT SAI BLACKBYRN

I’m Sai Blackbyrn, better known as “The Coach’s Mentor.” I help Coaches like you establish their business online. My system is simple: close more clients at higher fees. You can take advantage of technology, and use it as a catalyst to grow your coaching business in a matter of weeks; not months, not years. It’s easier than you think.

4 thoughts on “How to Craft your coaching business plan in 7 simple Steps”

This article was very simple and easy to follow. Extremely helpful. Just starting out so needed this kinda help.

Hi J Dawn, I’m glad you got great value from this piece. And since you are just starting out, the webinar would be extremely helpful to you so do register

Thank you so much, very insightful especially as I’m starting my coaching business.

Keep up the great work!

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How to Write a Coaching Business Plan That Helps You Thrive + Template

May 17, 2023

The Coach Factory Team

New coaches often overlook the importance of having a business plan from the beginning , but this critical document will guide your business through its growth stages. It’s a strategic tool that helps you visualize your goals, track your progress, and provide a clear picture of your business’ vision, financial health, and operational needs.

Without a business plan, you’ll face the risk of wandering aimlessly in your coaching practice and struggling to achieve your goals. The absence of a well-defined plan may leave you vulnerable to various challenges and setbacks. 

You may find it difficult to attract and retain clients without a clear value proposition and targeted marketing strategies. You may also struggle with financial management, pricing your services appropriately, and tracking your progress towards revenue goals. 

Plus, the absence of a business plan can lead to a lack of focus, scattered efforts, and a sense of uncertainty about the direction of your coaching practice. Ultimately, without a business plan, you may miss out on valuable opportunities for growth and struggle to thrive in the competitive coaching landscape.

Whether you’re transforming your coaching side gig into a full-time venture or scaling up your existing coaching business, this article will walk you step-by-step through creating a detailed coaching business plan that will propel you toward success.

• Why Your Coaching Practice Needs a Business Plan

A business plan guides your coaching business, directing you through your initial startup phase to growth and beyond. It helps you chart your course, establish milestones, and provide clear directions to your desired destination, similar to how a roadmap directs a traveler.

One of the most significant benefits of a business plan is its role in decision-making. When faced with decisions like introducing a new service or investing in advertising, your business plan provides the context and data to make informed choices. It helps align your decisions with your overall business objectives and strategies, ensuring that every step leads you closer to your goals.

How do I turn my coaching into a business?

If you’re already coaching and are ready to turn your hobby into a full fledged business, one of your first steps is to craft a business plan. As you work through the parts of the plan, you’ll be forced to make decisions about what to name your business , who is your desired clientele , what services you’ll offer , what kinds of expenses and revenue you expect, and how you’ll market the business.

Whether you run your coaching business as a side hustle or as a full time venture, as long as you are making money from coaching, you can officially call it a business. 

Can I write a business plan myself?

Yes, even a novice can write a simple business plan by working through the seven key elements: an executive summary, a company description, market analysis, organizational structure, sales and marketing, financial goals, and an appendix. Use the free 12-page workbook linked at the bottom of this post for a plug-and-play business plan template. 

How much does it cost to start a coaching business?

The costs for launching your coaching business can vary widely from a minimal few hundred dollars to a substantial investment of multiple thousands of dollars. When you dig into the financial parts of your business plan, you’ll be able to start listing the potential expenses you expect: certifications, website hosting and design, online video conferencing tools, hiring an accountant, etc. 

The good news is that you can start simply by offering online coaching to people in your current sphere of influence and as you generate income, branch out with additional features such as a coaching website or a client management system . There’s no need to put everything in place at once. You can build your business as you go, but the coaching business plan provides the blueprint to help you identify next steps. 

Can I make a living as a coach?

Yes, you can! If you have the primary traits that all coaches need and are willing to invest in your professional development and learn the basics of online marketing, you will likely attract enough ideal clients to earn a living wage. It’s not an easy path; it will take dedication to start your own coaching business, of course.  But over time, many coaches are able to generate six-figure annual salaries by doing what they love — helping others achieve their aspirations. These highest paid coaches tend to have the most expertise and work as business coaches. But there’s plenty of room for coaches of all niches and experience levels to find their ideal clients and serve them. As you continue coaching, you’ll refine your practice, find better clients, and be able to charge higher rates .

• Tips for Writing the 7 Key Elements of a Coaching Business Plan — With Workbook

Launching a coaching business requires more than just expertise in a specific niche. It demands a strategic approach and a clear vision for your business’s future. 

A well-crafted business plan has seven key elements, each of which serves a distinct purpose that aids in decision-making. These seven steps are included in a convenient PDF workbook format so you can record your thoughts and get started on your own business plan right away. Download yours and fill it out as you read the rest of this article that fleshes out the directions in the template.

1. Write an executive summary

The executive summary is the doorway to your business plan, providing a concise and enticing overview of your coaching business. It gives potential investors, partners, and other stakeholders a snapshot of your business, its goals, and how it intends to achieve them.

Here are five tips for writing an impactful executive summary.

Begin with the basics

No matter the setting, introductions are essential for making a great first impression. An introduction sets the stage and provides context for the following information. Start by providing basic information about your coaching business, like your business name , location, and specific coaching services.

Clearly state your business objectives

Are you looking to become a leading life coach in your region, or are you aiming to carve out a niche as a specialized career coach for professionals in the tech industry?

You must convey your business goals and give a time frame for achieving them. Although shooting for the stars is always important, your business plan goals should be simple enough to understand. So stick to setting goals that are specific, measurable, attainable, relevant, and time-bound (SMART).

Highlight your unique selling proposition (USP)

What makes your coaching business unique? Do you have a distinctive coaching methodology, special qualification, or experience that sets you apart?

Your USP is the core reason clients choose you over other coaches. It should be a central part of your branding and messaging to help attract and retain clients. When including it in your executive summary, dig deep to highlight aspects of your coaching business that help potential stakeholders see your value to the industry.

Outline your growth plan

Outlining your growth plan in your executive summary shows your ambition and forward-thinking approach to potential investors, partners, and stakeholders.

Briefly describe your plan for achieving your business objectives and expanding your coaching practice. Include any steps you plan to take in setting your business up for future success, like targeting new market segments, introducing new services, scaling your operations, and setting a flexible timeline for hitting certain milestones.

Write your executive summary last 

Even though the executive summary appears first in your business plan, you should write it last after completing the other sections. This way, you’ll accurately summarize the key points.

Remember, the executive summary is your chance to capture the reader’s attention and entice them to read the rest of your business plan. Make it compelling, informative, and engaging.

2. Create a company description

The company description is a comprehensive introduction to your coaching business. This section is where you set the stage, providing readers with an understanding of your services, target audience, business structure, and mission and vision. 

The more specific you are, the better.

Coaching Services

Start by defining the coaching services you provide. Describe your services in detail, whether you’re a life coach , career coach, or fitness coach. Explain the process, duration, and client expectations from each session. If you offer unique methodologies or techniques, highlight them.

Business Structure

Here, you’ll discuss the legal setup of your coaching business. Always include information about any staff you employ, like administrative help or other coaches, and their roles within your company. Are you a sole proprietor operating independently or set up as an LLC with partners or team members?

Target Audience

The people you want to help are central to your coaching business, so you must dedicate time and space to highlight them. Identify their demographics, such as age, gender, location, and income bracket. Additionally, it would help if you detailed things like their values, interests, and challenges.

Are they professionals seeking career advancement, individuals pursuing personal growth, or athletes aiming to improve performance?

The more detailed you are about your ideal client, the better you’ll tailor your services and marketing strategy.

Mission Statement

Your mission statement articulates your coaching business’s core purpose. It answers the question, “Why does your coaching business exist?” 

The mission statement should capture the essence of your coaching practice, the services you provide, and the value you deliver to your clients. It needs to be clear, concise, and compelling to your ideal client .

This mission guides every present decision and strategy in your business. It’s a constant reminder of your business’s purpose and the impact you aim to have on your clients’ lives. It helps to align your team’s efforts and fosters a sense of shared purpose.

Vision Statement

Unlike the mission statement, which focuses on the present and your business’s purpose, the vision statement is future-oriented. It embodies your aspirations and describes what ultimate success looks like for your coaching practice.

Your vision statement should inspire and motivate—it’s the big dream you’re working towards. It aligns you and your team (if you have one) around a common goal, creating a sense of unity and purpose.

Remember, keep your vision statement ambitious yet grounded in reality. Allow it to reflect the growth and impact you genuinely believe your coaching business can achieve in the future. A compelling vision statement will help you maintain focus and momentum as you build your coaching business.

3. Conduct market analysis and research

Navigating the coaching industry without a clear understanding of the market is like wandering in a forest without a map. You may stumble upon some great discoveries, but you’ll probably spend much time circling back to familiar ground. The goal is to continue to move forward with as little friction as possible. 

The market analysis section of your coaching business plan serves as your compass and map to help you quickly learn and navigate the coaching industry.

Industry Overview

Begin with a broad overview of the coaching industry— this might include the industry’s current size, growth rates, and key trends or shifts in the industry. You can find much of this information through industry reports, market research firms, and business publications.

Competitor Analysis

Identify your main competitors and analyze their services, pricing, marketing strategies, and strengths and weaknesses. Gather this information through their websites, client reviews, and social media channels. Understanding your competition will help you find ways to differentiate your coaching business.

Market Trends

Being aware of and responsive to emerging market trends will allow you to tweak your services and marketing efforts to satisfy evolving client preferences. This foresight ensures your business stays relevant and remains a competitive player in the changing landscape of the coaching industry.

Shine a spotlight on key market trends that could steer the course of your coaching business. For example, if you notice the tide shifting towards remote work, this could signal a surge in demand for virtual coaching services.

Opportunities and Threats

Based on your industry overview, target market analysis, competitor analysis, and market trends, identify potential opportunities for your coaching business and any threats that could impact its success.

For example, an opportunity might be a growing demand for a specific type of coaching in your area, while a threat could be a high level of competition from other coaches in your niche. Detailing both will show you new ways to approach and solve potential issues while allowing you to explore new things.

4. Outline your organizational and managerial overview

The organization and management overview of your business plan outlines the structure of your business and the team running it. This section should clearly define who is involved in your coaching business, their roles, and why they are fit for these roles.

It’s an opportunity to showcase the expertise and capabilities within your coaching business, which can build confidence among potential clients, partners, and investors.

Are you a sole proprietor, or have you formed an LLC, a partnership, or a corporation?

Start by defining the legal structure of your business. This information is crucial as it impacts your taxes, liability, and other legal aspects.

Organizational Chart

If your business has more team members other than you, create an organizational chart that shows the hierarchy and relationships between different roles. This provides a visual representation of your business’s structure. Include snapshots of who’s in management and what your role entails.

Advisors and Support

If you have any advisors or support services involved in your business, such as an accountant, a lawyer, or a business coach, mention them here. They add credibility to your business and show that you have expert support in managing your coaching business.

5. Craft a sales and marketing plan

Your business plan’s sales and marketing section outlines how you will attract and retain clients. It should detail your strategies for raising awareness of your coaching services, engaging prospects, and ultimately converting them into clients.

This section should be dynamic, adapting to your market’s changing needs and your business’s growth.

Marketing Objectives

Align your marketing goals with your overall business objectives.

For instance, if one of your business goals is to increase your client base by 25% over the next year, one of your marketing objectives might be to grow your email list by 50% in the same period. This would give you a larger pool of potential clients to engage with, supporting your overall goal of expanding your client base.

Also, detail how you plan to scale your marketing efforts as your business grows. Consider investing in more sophisticated marketing technology, hiring a marketing professional, or expanding into new marketing channels.

Target Market

Everything in your marketing plan has to appeal to your ideal client . Understanding their demographics, needs, and preferences will allow you to tailor your marketing messages effectively to gain their attention.

Marketing Strategies

Describe the marketing channels and strategies you plan to use. Mention everything from content marketing (blogging, webinars, ebooks), social media marketing (LinkedIn, Facebook, Instagram, Twitter), email marketing, networking (industry events, local business groups), public speaking, or offering introductory coaching sessions. 

Explain why you believe these strategies will be effective for reaching your target market.

Marketing Funnel 

A marketing funnel is a pipeline that shows how potential clients will move from an initial encounter with your brand to purchasing your services and beyond. This section details your steps for converting a prospect into a client. Include aspects like initial consultations, proposals , a follow-up process, and the sale of a coaching package.

The systems or technology you use to facilitate this process, such as customer relationship management (CRM) software, is information that would validate the efficiency of your funnel, so remember to include it. 

Brand Development

Discuss how you will build your brand and information on developing your coaching website and creating a consistent brand identity across any directory listings and all your marketing materials and channels.

It would be best if you also detailed how you will position yourself as an expert in your field, such as publishing articles or speaking at events. This will give your coaching practice more credibility and make it easier for potential stakeholders to trust your vision. 

6. Financial goals and projections

Your coaching business plan’s financial goals section clearly shows your current financial status and future projections. It provides insight into the profitability and sustainability of your business, which is especially important if you are seeking investors or loans.

Remember, this section will likely require more research and preparation than other sections of your business plan. Be as accurate and realistic as possible in your projections. Consider seeking the assistance of a financial advisor or accountant to ensure that your financial plan is sound and realistic.

Financial Goals

Begin by outlining your financial goals. Remember to keep your goals within reasonable limits based on your current resources.

Do you plan to achieve a certain revenue target within a specified period by attaining a specific number of paying clients?

Startup Costs

Startup costs will not apply to every coaching business, but if you’re starting, itemize your startup costs. This could include costs for setting up your office, purchasing equipment, marketing expenses, professional fees (like licensing or certification), and other initial expenses.

Revenue Projections

Provide a detailed breakdown of your projected income. For a coaching business, this will usually involve estimating the number of clients you will serve, the price of your coaching packages, and any other income streams (like workshops, ebooks, etc. ).

Expense Projections

Similarly, outline your projected expenses. This could include rent (if you have a physical office), utilities, marketing costs, salaries (if you have employees), and other operational costs. Also, remember to account for less recurring costs like equipment upgrades or professional development.

Cash Flow Analysis

A cash flow statement shows how changes in balance sheet accounts and income affect cash and cash equivalents. It breaks the analysis down into operating, investing, and financing activities.

Break-even Analysis

This analysis shows when your business will be able to cover all its expenses and begin to make a profit. It’s essential to investors as it shows the viability of your business.

Funding Request

If you’re seeking funding, present your needs for the next 3-5 years. Explain why you need the funds and how they will help grow your business.

Financial Statement

If your business has been running for a while, include your current financial statement. It should provide a snapshot of your business’s financial health and include a balance sheet, income statement, and cash flow statement.

7. Beef up your coaching business plan with an appendix 

The appendices section of your business plan serves as a repository for any additional information or documents that support your business plan but don’t necessarily fit within the body of the plan.

These materials can provide extra depth and credibility to your business plan, allowing readers, such as potential investors, lenders, or partners, to dive deeper into certain aspects of your business if they wish.

Remember these three tips when organizing your appendix.

• Only include relevant documents like certifications, awards, customer testimonials, letters of recommendation, detailed market research, patents, product pictures, legal documents, contracts, etc.
• Create a table of contents to give readers a quick view of what’s in the appendix. Readers can then quickly locate the documents they’re interested in.
• Include references to the appendix throughout your business plan to provide context and quick referencing.
• Free Life Coaching Business Plan Template

A well-structured business plan is a vital first step for new coaches serious about building a thriving coaching business. By investing time and effort in developing your business plan, you create a strategic roadmap for your business and set the foundation for success. Your business plan will guide your decision-making, help you stay focused on your goals, and enable you to measure progress and make necessary adjustments.

Download our free 12-page Coaching Business Plan Template, designed specifically to help you navigate crafting an effective business plan. This template provides a clear framework and guidance on the essential elements to consider as you plan your coaching business.

Written by The Coach Factory Team

We're a team of coaching enthusiasts who hire and work with coaches. Members of our team run businesses in the coaching industry or provide services that support coaches, and several of us are coaches ourselves.

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Creating Your Rock-Solid Coaching Business Plan

Here's the no-holds-barred truth...

Starting and running a successful business - any kind of business -- isn't easy.

It will probably be one of the hardest things you'll ever do, but it will also be one of the most satisfying things you will ever do.

The good news is a coaching business that's based on a solid coaching business plan...

A plan that gives you clarity, focus, and direction...

A plan that's based on clear commitment...

Will take a lot of the sting - or obstacles and difficulties - out of the business-building experience.

Step #1 in creating a coaching business plan is about creating that commitment by finding the truth around why  you want to build a successful coaching business in the first place.

This may sound like a simple thing to do but don't be fooled... it's probably the most challenging step of all.

A lot of coaches believe the reason why they do what they do is because they want to serve others and make a difference in people's lives, but if we're really honest with ourselves, that's only half  the story.

If all you want to do with your coaching skills is to serve others, you'd do it for free and you wouldn't build a business around it and charge for your services.

Just to be clear...

This is definitely NOT a campaign to get you to coach for free! Charging for your coaching services and building a coaching business are awesome and it's the right thing to do.

How else would you be able to serve others powerfully if you can't make ends meet or are coaching after hours, leaving little to no time to your own wellbeing?

You have to make your coaching business sustainable if you want to make a living out of your passion. 

The point of this step is to get you to reflect deeply and dig deeper around your  inner motivation for building a coaching business.

When you get to the REAL root of  why you want to build a business, why it matters to YOU and not just how you can help others, you'll strengthen your motivation and commitment.

You'll find that with strong commitment, you're able to continue along your journey, no matter what happens...

You're able to tap into a level of persistence and consistency that will allow you to overcome all of the challenges, risks and uncertainty that will come up when you start to build your business.

As you think about your commitment in this first step, don't feel like you need to focus on others and that you must be empathetic to what other people want and need all the time.

As master coach and co-founder of Evercoach, Ajit Nawalkha says...

The following questions will help you connect with the heart of your  personal why... the needs and desires within you that don't have anything to do with anyone else.

Commitment is the step that holds all the other pieces in place in your coaching business plan and that's because no matter how awesome your plan is, it's not going to work if you're not deeply committed and focused on building a successful business.

Question #1

Think of a successful coach you admire. What are some of their awesome personal qualities and traits ? What is their business model? What kind of lifestyle do they have? (if you're not sure, Google to get some answers)

Note: When we admire someone, it's usually because we desire some of what they have. This question will help you identify your deepest desires as a coach.

Question #2

Describe an ideal day in your life as a coach. Start from the moment you wake up until the moment you fall asleep at night. Be as detailed as possible, you can add elements of your lifestyle, where you are, who you are with, be specific about times, etc.

Note: This question will give you hidden clues to what you're looking for in your coaching business and why you want to build your business. Is it a rich, luxurious life with lots of 1 st  class travel and a house by the beach? Is it plenty of time freedom or maybe it's working with well-known politicians and celebrities? Let yourself dream BIG!

Question #3

What are 5 to 10 of benefits you personally experience from your work as a coach? Maybe your work allows you to grow and transform as a human being, maybe it's that you get deep satisfaction knowing that you're making a difference in people's lives, maybe it's both.

Note: This question will focus your mind on some of the benefits you gain being a coach. This will help you discover why you want to make this your life's work.

Question #4

Now that you've completed questions 1 through 3, finish this sentence:

"I want to build a successful coaching business because..."

Note: List as many reasons as you want but try to make sure these reasons are related to you, your passion, your work, your lifestyle, your dreams, and your desires. Don't let yourself focus on other people... you have permission to be selfish!

Here's one of the biggest conundrums of the 21st century...

The internet has linked us to more people than ever before in the history of humanity and at the same time, it's left us feeling lonelier than we've ever been.

Here's the thing...

The internet creates an environment where we can reach people around the world and we can share our lives with them, but it does not nurture TRUE connections.

Deep, honest, vulnerable and powerful connections are the foundation of successful coaching.

So, what has this got to do with creating a coaching business plan?

Well, just about everything!

For one thing, people are hungry for connections. They want a coach who creates space for them to be themselves without fear of being judged or rejected.

More and more people want to feel seen, heard and understood in a real way and not just through mindless likes and shares on social media.

A successful coach is someone who has what it takes to build real connections with people both online and offline.

As you continue to build out your coaching business plan, spend time thinking about how you're going to inspire true connections with potential clients.

Are you going to reach out to them online?  Schedule an old-fashioned "coffee date" so you can get to know each other? Will you send them an email and follow up with a phone call?

If you're not sure, do a little research and check out what other coaches -- in your niche or area of expertise -- are doing to create connections in your space so you can kick start a stream of ideas and inspiration.

It's time to make some big picture choices on how and when you want to start creating real connections with potential clients.

This is an important segment in your business plan as it will help you make decisions around being visible and marketing your coaching services.

List all the online and offline methods you can think of to reach out and connect with potential clients. Be specific of what places or platforms you would use to find your ideal audience and approach them.

Note: For instance, if you're a health coach, you could aim to attend at least one a health-related industry conference each month. If you like connecting on social media , what are some of the Facebook groups you could become a part of?

How do you show up best when you're connecting with someone new? Do you love connecting online or do you prefer in-person meetups?

Note: When you've answered this question, check back on your list in Question 1 and circle specific methods that work best for you, based on your answers to this question. For instance if your list in question #1 included "attending live networking events", "running a weekend seminar" and "reaching out via DM on Instagram" and you know you're at your best when you connect in person, then you'd circle the first 2 methods but not the third.

What's ONE thing you can do by the end of today, or if you're reading this before bed, what's the one thing you can do in the morning to connect with at least 3 potential clients?

Conversation

You've identified your preferred channels of connection and maybe you've even already taken your first action step to reach out to potential clients.

This is the segment in the business plan that most coaches absolutely love because they kick a$$ in this area!

We've arrived at the conversation phase of your business plan.

This is where the magic happens.

When you can have a conversation with a potential client, you need to direct your attention to 3 key elements:

Transformation

How can you make every, single conversation you have feel insightful, meaningful, and transformational for the potential client?

How can you take your language and conversational skills up to the highest levels?

The best coaches in the world also happen to be world-class listeners and conversationalists, and that's not a coincidence!

Coaches are in the business of creating transformations one conversation at a time.

So, keep in mind that with every conversation you have, you are also in the position to create transformation right there in the moment ..

This isn't about feeling pressured or stressed into changing lives in minutes although it has been known to happen!

It's actually about looking inside yourself and discovering the internal and external cues, triggers and environmental elements that allow you to show up as a master conversationalist, a master listener...

And a master coach.

At Evercoach, we teach coaches the art of practicing deep listening , asking powerful, perceptive questions that create a space for reflection and game-changing "a-ha" moments for clients.

You can learn more about deep listening and asking questions for life-changing conversations in one of our all-time popular courses on Evercoach -  Being an Exponential Coach

Knowing how to have great conversations with clients comes with deep thought, reflection and practice. The following questions will help you create a personal guideline to start meaningful, insightful, transformational conversations that you can include in your business plan.

What's a great opening question you can ask to trigger a deep conversation with a potential client?

Think of some of the game-changing conversations you've had in your own life - either with a coach or even with a friend. What are some of the powerful elements of those conversations, other than insightful, meaningful and transformational?

Note: When you've identified at least 3 elements, think about how you can include them in your next conversation with a potential client.

Identify 3 ways you can learn to take your listening, questioning and conversations skills up to the highest level. 

Note: You can check out our Youtube channel  and  Coaching Guides to get tons of free, high-value content will help you rapidly up-level your coaching skills - even if you're a brand-new coach.

T he 5-Step Coaching Business Plan

C reating  your rock-solid coaching business plan, build your thriving coaching business.

How To Write a Business Plan for a Life Coaching Business + Free Example

John Procopio

6 min. read

Updated February 7, 2024

Free Download:  Sample Coaching Business Plan Template

• Turn your passion for helping others into a thriving life coaching business.

As a life coach, you have the opportunity to empower others and help them achieve their goals. And with an estimated industry value of over $2 billion, the demand for life coaches has never been higher. 

Yes, the dynamic world of coaching presents an array of opportunities to guide clients through personal and professional growth. But just as you are developing plans for your clients you need to do the same for your business.

Crafting a solid business plan for your coaching practice will help you clarify your vision and objectives, account for certifications and training, and explore how you need to perform financially in order to thrive in an increasingly competitive market. 

In this guide, we’ll walk you through how to create a business plan for a life, performance, or executive coaching business. You can even download a free one-page coaching plan template to fill out as you go.

• What is a life coaching business?

A life coaching business provides professional coaching services to help clients achieve their personal and professional goals. Life coaches work with individuals or groups to provide guidance, support, and accountability. There are many types of life coaching, including:

• Performance coaching: Enhancing specific skills or talents, such as athletes or musicians.
• Executive coaching: Developing effective leadership skills for executives and business leaders.
• Relationship coaching: Improving communication, conflict resolution, and relationship dynamics with partners, family, friends, and colleagues.
• Career coaching: Advancing careers through skills assessment, resume building, networking, and career planning.
• Life coaching: Taking a holistic approach to improving various areas of life like health, work-life balance, productivity, and personal fulfillment.
• Why you should write a business plan for a life or executive coaching business

A solid business plan is crucial for success in your life or executive coaching business. It helps organize your strategies, identify potential obstacles, and invest in certifications and marketing for growth and credibility. By writing a detailed business plan, you can more effectively allocate resources, set achievable goals, and create a roadmap for success.

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• How to write a life coach business plan

In this guide, we’ll walk you through the key components of a life coaching business plan to help you lay the foundation for a thriving coaching practice. For a walkthrough of how to write the specific sections of a business plan , check out our full guide and supporting articles.

1. Clearly define your offering

To build a successful life coaching business, you must have a precise understanding of your services and how they stand out from the competition. Determine your areas of expertise—whether career, executive, relationship, life, or wellness coaching—and the specific challenges you can help clients navigate. Becoming properly certified and accredited demonstrates your professional competence to clients.

The two top certifying organizations are the International Coach Federation (ICF) and the Coaches Training Institute (CTI). The ICF offers ACC, PCC, and MCC credential levels based on your experience. CTI offers a Certified Professional Co-Active Coach credential. Achieving the right credential for your coaching specialty—such as becoming a Certified Career Coach, Certified Professional Career Coach, or earning a Life Coaching Certification—can maximize your credibility.

With a clear service offering tailored to your target market’s needs and the proper certifications, you will gain the credibility and expertise to help many clients achieve meaningful life changes and reach their full potential. Promote your services boldly by focusing on your areas of specialization, ideal clients, and the specific outcomes you provide.

2. Have specific clients in mind

Speaking of your target market , successful businesses have a clear understanding of their ideal customer and cater to their unique needs.

For example, a life coaching business may target mid-career professionals seeking personal growth or corporate executives looking to enhance their leadership skills. Their needs include developing management skills, thinking strategically, and improving communication. However, you can break this down even further and have market segments such as: 

• Mid-career professionals looking to change jobs or careers. Their needs include identifying strengths and interests, building a strong resume, developing networking skills, and gaining confidence in interviews.
• Young adults transitioning from college into the working world. Their needs include determining a career path, gaining skills and experience, finding mentors, and learning professionalism.  
• Entrepreneurs looking to start a new business. Their needs include business planning, productivity, accountability, motivation, and work-life balance.

3. Create a marketing plan

Developing a strategic marketing plan is vital to building brand awareness and attracting clients to your life coaching business. You’ll need a detailed marketing strategy to maintain a consistent brand identity reflecting your unique coaching style and expertise. 

Strategically choose a few marketing channels, like your website, a targeted social media strategy, and possibly speaking engagements to reach your ideal clients. Run a blog, Substack, or podcast providing actionable advice in your areas of coaching. Submit articles to media outlets your target audience follows and build credibility through these expert placements. 

It’s also important to consider paid media as part of your marketing strategy, such as social media advertising and Google Ads. Monitor your return on ad spend (ROAS) and calculate the lifetime value of a lead to accurately measure the effectiveness of your campaigns. 

With a customized brand and strategic marketing focused on your niche audience’s needs, you will hope to gain visibility, credibility, and quality leads to develop a thriving coaching practice. These are just some of the marketing avenues you may consider exploring.

4. Know your numbers

To build a profitable coaching business you need to understand your financials by monitoring both revenue and expenses closely. Charge what you’re worth based on your experience, certifications, and client outcomes. While gaining momentum, generate extra income through related services. Consider charging for initial consultations to add another revenue stream to your business. 

Here are a few other key things to consider when exploring your numbers:

Track key metrics

Review key metrics monthly, like client retention and profitability. Make adjustments to optimize satisfaction and revenue. Budget for short-term loss but aim for profitability within 6-12 months. Think long-term, progress will take time.

Test your pricing strategy

Explore different pricing models to attract clients with varying budgets. Consider offering packages, retainers, group programs, and online courses, as they provide stability for both you and your clients. 

Keep a close eye on expenses

Assess expenses regularly to minimize waste. Expect costs like marketing, office space (if needed), insurance, and certifications. Budget adequately , reducing expenses will boost profit, and review and refine over time.

• Download your free life coaching business plan template

Now, you’re reading to start creating your business plan. To get started, download our free one-page business plan example for a life-coaching business . For more inspiration, check out our free library of sample plans and templates for service businesses. You can download any of these documents in Word form and get some structure and industry-specific insight for your own plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

John is a seasoned digital marketing leader with over 25 years of experience across SaaS, e-commerce, and content industries. He has a proven track record of driving growth through data-informed strategies that span the entire marketing pipeline.

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Creating a Simple Coaching Business Plan 101

• Share this article

With an estimated market size of almost $20 billion , coaching continues to be one of the fastest growing sectors in the world. With more and more individuals and organizations understanding the true contribution and impact of coaching (boost in self-confidence, revenues, and an elevated workforce morale), the average yearly growth of the coaching industry stands at a healthy 6.7% with thousands of professionals looking at coaching as a lucrative, long term career option. There are approximately 71,000 certified coaches worldwide at this time – and that, we believe, says a lot!

If you have already taken the plunge (or are preparing to take one) and have chosen the very rewarding career of coaching, the next organic step will be to look at scaling your venture. You may have gotten in the profession with the noble thought of helping people maximize their potentials and become successful, but it is also your work and a major (if not primary) source of income for you! Making every effort to expand your client volumes and boost your revenues is absolutely necessary if you want to make your practice a continued success. 

So, venturing into developing your own coaching business can be a natural progression to your career. But just the idea of having your own coaching business is not enough. Once the brainstorming process is over, how do you move forward and put those ideas on paper and convert them into a viable coaching business plan? Read on to find out how you can create a simple but effective coaching business plan and the lasting impact that it can have on your career.

Why should you have a coaching business plan?  

You have done the groundwork, put in those extra working hours, got a fair bit of experience working as a coach and are now ready to move on to the next level (or you may be just starting out as a coach and feeling ambitious & confident enough to take on the responsibility of running your own coaching business). Naturally then scaling your coaching services is what comes to mind. And for that you need a feasible coaching business plan. But why must you have one? Well, the answer covers multiple reasons – why having a solid, well-thought out, strategically sound plan can give you the best chance at making a success of your coaching business. 

A good coaching business plan

• Provides focus and clarity not just to you but also your other stakeholders regarding the business, its scope, start-up expenses, target clientele, expected competition, potential obstacles, possible income generation, and more.
• Gives a fair idea of what to expect in the near future based on multiple outcomes that are discussed.
• Keeps you on track and alert to the realities so that you concentrate on doing the right things and avoid missteps that could prove disastrous in the future. 

Things to know before you start putting down a coaching business plan

Now that you understand the importance of having a coaching business plan, there are some other factors to consider before you start charting out one:

• Make sure that your coaching business plan is as close to reality as possible. In their newfound excitement of staring their own business, many coaches often lose track of ground realities and overestimate their would-be success and underestimate their challenges. 
• Ensure that your coaching business plan lets you define your coaching niche – coaching is a vast segment that covers life coaching, executive coaching, leadership coaching, health & wellness coaching, personal coaching, to name a few. Based on your aptitude, knowledge, and experience, choose a niche that will give you the best chance for success as a coach. 
• Conduct thorough research about the market and emerging opportunities, the industries that have a high demand for coaching and target audience who can actually pay for your services. 
• Be honest about your financial reality (start-up costs, compare your assets & liabilities, the potential expenses that will be incurred against the potential income that will flow in, gauge if you can start out with your own seed capital or if you need to find external investors, financial goals to be accomplished in the next year as well as 5 years) and then map out your business strategy. 
• Be prepared to be flexible – a business plan that seems brilliant at the scripting stage may not look as promising once all the pieces of the coaching business plan are in place. If that happens, don’t lose heart and go back to the drawing board, tweak and tinker until you come up with a realistic plan that will stand the test of time and will result in a successful and long-lasting business. Being realistic does not mean that you curb your big ambitions – it just means that you go in with your eyes wide open to both opportunity and challenges.

Creating a coaching business plan  

Creating a coaching business plan takes a lot of research, understanding of the business world, a clear analysis of your Strengths, Weaknesses, Opportunities & Threats, and the ability to turn ambitions into reality. It is the foundation on which the tower of your business will stand and flourish. 

1. Start your business vision

Write up a mission statement in clear and precise words that provides a detailed understanding of why you are in the business, the type of your business, your business operations and scope, the potential clientele that you wish to engage, the services and products that you will offer and how they will prove to be value additions to those who sign up, and more. This transparency in conveying your intentions can go a long way in establishing your credibility among existing as well as potential clients. 

2. Zero in on the most workable coaching model 

Getting the coaching model right is important as this is the basis on which you will take all the other business decisions, which will in turn impact your earnings. You need to decide if you want to opt for a one-on-one/personalized coaching (personal can be limiting in terms of reaching just one client against the time and effort expended), group coaching (little less time consuming with expanded client size), corporate coaching (business/executive/leadership coaching – where the organization pays a lumpsum for coaching their group of employees), hybrid coaching (a mix of online & offline) or even partially automated coaching (online questionnaires, exercises, surveys, feedback forms). 

3. Concentrate on your unique offerings 

As the data has shown, coaching is a lucrative profession, so, naturally the field will be overcrowded with hundreds of coaches offering their services. It may take extra effort and some unique offerings for you to stand out against your closest competitors, build your coaching business and also make a success out of it.  Saying you are good coach is not enough, you need to state your specialization for clients to notice you. 

Put down what your strengths are (for instance, conflict resolution, mergers & acquisitions, delegation) and what is the expertise you can provide to your clients that will make a discernible difference to their progress (how you have helped top executives complete successful career transitions that made a healthy difference to their work-life balance, for example). You need to understand your own business in depth, only then you can convince the client about your offerings.  

4. Organize your daily schedule 

Effective time management is one of the pillars of your eventual success. Having an organized schedule will mean that you not only make time for actual coaching but also for the peripherals (social media engagements, communicating with clients, updating your course materials, etc.) that are important for your coaching business. Prioritize your goals and then assign time slots for those activities as per importance. Tasks that need more attention (any client activities take top preference) should have regular markings in your schedule whereas lesser important activities can be scheduled once a week or fortnightly. Using an automated planner is a good choice rather than getting into it manually. 

5 . Invest in a good coaching management software 

Personally, handling clients as well as the demands of running a business is fine when your client size is small. But when you scale up your business and start expanding your clientele, it can get extremely difficult, not to mention exhausting, managing multiple demands manually. 

Investing in a comprehensive, fully automated business coaching management software that offers all the features – such as client & business management, sales & marketing, pricing options, coaching tools, etc. – under a single platform will make running your coaching business easy & efficiently and help deliver quantifiable & visible results for your clients and eventually help grow your business.

6 . Offer attractive coaching packages with multiple price points & duration

Not all clients are the same – their requirements and readiness to pay are different. In order to reach a wide audience, make sure that you offer attractive coaching packages with benefits, multiple pricing options as well as durations (you can list out the offerings and benefits of every coaching package, whether it’s 1-month, 3-month, 6-month or even yearly). Having a landing page where the client can reach you and take a look at all your various services & pricing choices will help your potential client make an informed choice about your coaching services and ascertain whether they are best suited to their requirements. 

7. Stick to a single coaching model that will succeed in the long run

The intent behind starting a business and creating a coaching business plan is that you want to scale up to the next level, with the aim of acquiring more clients and thus, more revenue. For that to happen, you need to zero in on a coaching business model and then stick to it. 

A coaching company model lets you be the owner of a business that employs multiple coaches who actually do the coaching alongside you and you get a percentage of the earnings as your profit. The upside is that you don’t need to spend all your time and energy coaching and can focus on business growth, but the downside is that if the client signed up for your name, they may feel short changed that they are not getting coached by you.  

A personalized coaching model is the most personal form of coaching where you deliver your coaching services to a single client in a session. The model works better for the coachee than the coach. The coachee gets the best out of the coaching process but the coach is unable to scale up their business as their time and effort are tied to one client. But by automating this coaching model (personalized questionnaires, feedback forms, assessment reports, etc.) the coach can scale this coaching model for repeated use for other clients as well. 

A productized coaching model focuses on creating a product that can be sold over and over again. Coaching courses, training modules, and other educational material that cover a host of relevant topics are examples of how coaching can be productized. These can be made available on your own website or published via learning platforms. This is one of the more popular coaching models as the products can be sold at a more affordable rate (as there’s no direct exchange of coach’s time for money) and can bought by as many clients as possible, thus widening your client base and ensuring a stable source of income. 

8. Prepare a goal tracker to monitor short-term goals 

Set small goals to achieve and create a short-term goal tracking sheet to monitor if those goals are being achieved. When you achieve smaller goals, you are automatically getting a step closer to attaining your final objective. The goal tracker helps you stay on the path, boosts your morale, and prevents feeling frustrated & getting pressurized by the larger goal. After all, the journey of a thousand miles begins with a single step forward!

9. Have a solid sales funnel in place 

This is a coaching business plan that you are preparing, so naturally the intent is to bring in as many clients as possible and generate higher profits. As with any business, a solid sales & marketing strategy is the key to making it a success. 

Having a top-notch sales funnel is important – identifying the target audience, understanding customer requirements, listing all the services & products that you offer the client, presenting a comparative analysis of how your services and products are better than your closest competitors, and actually onboarding clients. 

In addition, utilizing other marketing tools such as webinars, Facebook, LinkedIn, YouTube, blogs, vlogs, email & affiliate marketing, online forums & networks, etc., provide multiple platforms for your prospective clients to not only to become aware of your services but to also connect with you. How effective the sales funnel will be, depends on how much financial capacity you have for spending on advertising your business. 

10 . Create a strong brand for your coaching business 

A strong brand that is identifiable with quality offering is one of the best long-term assets that any business can have. An easily recognizable brand is your gateway to growing your business. While creating your coaching business brand, keep in mind a few factors such as its objective, the values you hope to convey, the assurances you are giving clients in terms of services, professional ethics and transparent business dealings.

Creating a lasting brand is not only about glossy and colour-coordinated websites and logos, it is about conveying your best qualities that enhance your credibility and brand recall to further your business growth. 

Setting up a business, running it smoothy, and making a success out of it is not an easy job, especially in this highly competitive industry. Benjamin Franklin summed it up aptly, ‘if you fail to plan, you plan to fail!’. Then why start a coaching business without a coaching business plan? Having a detailed coaching business plan is the foundation on which you can not only build but also scale up your venture. It gives you the required confidence, focus and clarity to shape a business that can provide for you monetarily and also help you leave a lasting impact as a sought-after coach. 

FAQs  

1. What is a coaching business plan? 

A coaching business plan is a framework that states your business purpose, objectives and the means to achieve those goals. It should include your unique service offering, target audience, coaching model, pricing strategy, sales & marketing approach, and proposals for business growth and expansion. It is important to have a solid coaching business plan in place before starting your business as it helps you understand the true current situation, make plans to move forward based on that reality, stay organized, avoid missteps and concentrate on the eventual business goals. 

2. Do you need certification to write a coaching business plan? 

It is not necessary to have certification to write a coaching business plan. If you have the necessary business background and experience, you can write one yourself or hire the services of an expert business coach to create one for you. 

Also, many coaching institutes offer programs and training on how to prepare a coaching business plan. You can choose to enrol in such a program and get certified on proper guidelines as well as learn the importance of having a sound coaching business plan.

About Simply.Coach

Simply.Coach  is an enterprise-grade coaching software designed to be used by individual coaches and coaching businesses. Trusted by ICF-accredited and EMCC-credentialed coaches worldwide, Simply.Coach is on a mission to elevate the experience and process of coaching with technology-led tools and solutions.  

Pallavi Godbole

An avid reader with love for books on history, sci-fi and popular fiction, Pallavi is a gifted content writer. She is also a keen listener of Indian semi & classical music. Currently, she juggles her duties of being a full-time mom with part-time content writing.

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Coaching Business Plan

Low startup costs, high earning potential, diverse clientele, and professional growth make coaching a rewarding career for new entrepreneurs. However, entering the marketplace without proper planning can put you and your business at risk.

Are you looking to start writing a business plan for your coaching business? Creating a business plan is essential to starting, growing, and securing funding for your business. So we have prepared a coaching business plan template to help you start writing yours.

Free Business Plan Template

Download our Free Business Plan Template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write a Coaching business plan?

Writing a coaching business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire business plan is ready. Here are some components to add to your summary:

Start with a brief introduction:

Market opportunity:, mention your services:, marketing strategy:, financial highlights:, call to action:.

Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon.

Say goodbye to boring templates

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2. Business Overview

Depending on your business’s details, you’ll need different elements in your business overview. Still, there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:

About the business:

Provide all the basic information about your business in this section like:

• The name and type of your coaching center: mention whether you are a coaching center focusing on personal, corporate, executive, or life coaching. Maybe, you offer online coaching services —so mention that.
• Company structure of your coaching business, whether it is a sole proprietorship, partnership firm, or something else.
• Location of your coaching center and why you selected that place.

Mission statement:

Business history:, future goals:.

This section should provide an in-depth understanding of your coaching business. Also, the business overview section should be engaging and precise.

3. Market Analysis

Market analysis provides a clear understanding of the market your coaching center will run, the target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:

Target market:

Market size and growth potential:, competitive analysis:, market trends:, regulatory environment:.

Some additional tips for writing the market analysis section of your business plan:

• Use various sources to gather data, including industry reports, market research studies, and surveys.
• Be specific and provide detailed information wherever possible.
• Include charts and graphs to help illustrate your key points.
• Keep your target audience in mind while writing the business plan.

4. Products And Services

A coaching business plan’s product and services section should describe the specific services offered to customers. To write this section should include the following:

List the services:

• Create a list of the services your coaching business will offer, including educational coaching, corporate training, business consulting, executive coaching, etc.
• Describe each service: Provide a detailed description of what it entails, the time required, and the qualifications of the professionals who will provide it. For example, coaches are responsible for providing coaching services to students or clients.

Coaching Methodology:

Overall, a business plan’s product and services section should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Develop your unique selling proposition (USP):

Determine your pricing strategy:, marketing strategies:, sales strategies:, customer retention:.

Overall, the sales and marketing strategies section of your business plan should outline your plans to attract and retain customers and generate revenue. Be specific, realistic, and data-driven in your approach, and be prepared to adjust your strategies based on feedback and results.

6. Operations Plan

When writing the operations plan section, it’s important to consider the various aspects of your business processes and procedures involved in operating a business. Here are the components to include in an operations plan:

Hiring Plan:

Operational process:, facilities and technology:.

By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your coaching center.

7. Management Team

The management team section provides an overview of the individuals responsible for running the coaching business. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

Key managers:

Organizational structure:, compensation plan:, board of advisors:.

Describe your business’s key personnel and highlight why your business has the fittest team.

8. Financial Plan

When writing the financial plan section of a business plan, it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:, financing needs:.

Remember to be realistic with your financial projections and provide supporting evidence for your estimates.

9. Appendix

When writing the appendix section, you should include any additional information supporting your plan’s main content. This may include financial statements, market research data, legal documents, and other relevant information.

• Include a table of contents for the appendix section to make it easy for readers to find specific information.
• Include financial statements such as income statements, balance sheets, and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
• Provide market research data, such as statistics on the size of the coaching industry, consumer demographics, and trends in the industry.
• Include any legal documents such as permits, licenses, and contracts.
• Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
• Use clear headings and labels for each section of the appendix so that readers can easily find the information they need.

Remember, the appendix section of your coaching business should only include relevant and essential information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This coaching business plan sample will provide an idea for writing a successful coaching plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready coaching business plan to impress your audience, download our coaching business plan pdf .

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Components of Business Planning

Frequently asked questions, why do you need a coaching business plan.

A business plan is essential for anyone looking to start or run a successful coaching center. It helps to clarify your business, secure funding, and identify potential challenges while starting and growing your coaching business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your coaching business.

How to get funding for your coaching business?

There are several ways to get funding for your coaching business, but one of the most efficient and speedy funding options is self-funding. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors, venture capital.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your coaching business?

There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your coaching business plan and outline your vision as you have in your mind.

What is the easiest way to write your coaching business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any coaching business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Start Your Life Coaching Business Plan & Template

Perhaps like many of us, you’re unsure where to start. Maybe you’re disillusioned by the lack of clear, actionable information available and have shelved your plans – for the moment, at least.

But don’t give in. Help is at hand.

This article introduces many of the answers to the question, “How do I start a life coaching business?”

In doing so, we borrow heavily from a book written by one of our founders at PositivePsychology.com, Seph Fontane Pennock, The 7 Pillars of a Profitable Practice . It is a great read and highly recommended; however, this article offers a powerful starting point regardless, with actionable points, a business plan, and a free template.

This Article Contains

How to start your life coaching business, 3 requirements for setting up your practice, crafting your business model plan: a template, how to market and advertise your coaching business, 10 best names for coaching practices, building and promoting an online coaching business.

• 10+ Software & Forms to Use in Your Practice

A Take-Home Message

Life coaching can have far-reaching and diverse positive impacts on clients’ lives (Clutterbuck et al., 2016).

Many of us have toyed with the idea of starting a life coaching business, helping people change health-related behavior, improve wellness, boost their careers, and strive for personal goals (Karmali et al., 2020; Mann et al., 2022).

You most likely feel you have something to give: highly transferable skills learned from harsh life lessons and/or expertise in psychology, learning, leadership, self-development, and communication.

Or perhaps you are simply great at making people feel so empowered that they stop being “stuck” and take the bold steps to overcome obstacles holding them back.

Whatever your reason and motivation, we will help you get there, and the best place to begin is right here.

Begin at the beginning!

We start by recognizing our barriers.

What’s stopping us? Most likely, it’s our mindset rather than something physical. The following beliefs are potential obstacles, blocking us before we even start:

• Fear of failure : We are afraid we will not succeed.
• Not enough time: “I would give it a try, but I simply don’t have enough time.”
• Self-doubt: Our lack of confidence sabotages our entrepreneurial journey.

It’s not about ignoring the fear or letting it determine how we act; it’s about accepting it as an inherent part of our journey.

Accept fear as part of your journey.

Next, evaluate your existing time commitments. Prioritize your current tasks, dropping some of the nonessentials, and plan to set aside time to start your life coaching business. This is something you’ve dreamed of doing and aligns with your bigger life goals.

There will always be things to do, but by changing your mindset and prioritizing this dream, you will find the time to make it a reality.

Everyone has 24 hours in a day. What will you accomplish with yours?

Finally, recognize your feelings of self-doubt but don’t let them control you. Reflect on some of your past successes and reach out to those closest to you for their support, encouragement, and practical advice.

We’d like to share a great article with you that can help, as it includes tips for increasing your self-confidence. Have a look at What Is Self-Confidence? (+9 Proven Ways to Increase It) .

To build confidence, you have to practice confidence.

If we don’t start, we will never know

Now that we have faced our barriers and established a healthier relationship with them, it’s time to step outside our comfort zone and start the journey.

Who is our dream client?

We can’t be great at everything, so we need to narrow our focus and reach and find an authentic niche.

For example, perhaps you enjoy helping people in the workplace . So, maybe your dream client has worked for several years but now feels stuck in their career. They need help to reevaluate where they are, where they want to go, and how to change their mindset to move toward a more fulfilling career.

Once we’ve defined our ideal client, we can consider each of Seph’s seven pillars for starting and growing a coaching practice sustainably:

• Pillar #1 – Promise We need to be able to make a pledge to our dream client. The five Ps will help: People : Who are we helping? Place : Where are we helping them? Problem : What are we helping them solve? Product : What will we use to do this? Price : What will we charge to do it?
• Pillar #2 – Leads We need to attract more of the right sort of clients (ideally, they will contact us). We must think about how our dream client will find us, perhaps via YouTube, a blog post, a personal website, or social media (think LinkedIn, Instagram, Facebook, etc.).
• Pillar #3 – Clients How will we convert leads into clients? It may involve screening out those who are not a good fit for our services (depending on our coaching philosophy ) and following up quickly with compatible ones.
• Pillar #4 – Traffic Reducing the legwork associated with finding leads is crucial; ultimately, it gives us more time to help others.
• Pillar #5 – Retention Attracting and converting new leads is vital, yet so is holding on to existing clients. What potential offers can we share with existing clients to maintain (or boost) engagement?
• Pillar #6 – Products How can we generate more income without spending extra time? It might include offering group coaching sessions or additional training, downloadable PDFs, podcasts, or webinars.
• Pillar #7 – Team We can’t achieve everything alone. Over time, a successful coaching business may expand and include dedicated staff performing those administrative activities that take our time away from coaching.

What is the best platform for a life coaching business?

Traditionally, life coaching was practiced face to face and involved a great deal of manual administration behind the scenes.

Thankfully, new technology and online platforms mean we can perform coaching remotely through video calls and set up meetings, share activities, and exercises, and take notes online (Ribbers & Waringa, 2015; Kanatouri, 2020).

Our very own Quenza has been designed by and for coaches, counselors, and therapists, and that is why we believe it is the best coaching platform out there. It allows life coaches to focus on client needs, goals, and overcoming challenges and is a scalable solution for a growing business.

Do you need a business license?

You do not need specific qualifications to set up as a life coach, but accreditation can boost potential clients’ confidence in your abilities.

However, obtaining a business license is required in some locations to provide life coaching services legally. If you’re unsure whether you need a license, check with your local government agencies or consult a lawyer or accountant familiar with your jurisdiction (Lumia, 2022; Blackbyrn, 2023).

3 Best life coaching certification programs

There are many life coaching courses available. However, the International Coaching Federation (ICF) is the world’s best-known and respected coaching program certifier.

We list three of our favorite life coaching certification programs, but many others exist.

Spend time researching the one that best matches your coaching plans, availability, and budget.

• Coaching Out of the Box This fast track to ICF certification can help turn your dream of starting a life coaching business into a reality. It includes group and one-to-one coaching and certification and supports individuals as they obtain documented coaching experience.
• Barefoot Coaching This ICF and university-accredited coach training offers online coaching expertise to develop the coaching skills required as a life coach, HR professional, or business leader.
• Life Purpose Institute The institute offers the coaching tools and marketing expertise to build a life coaching practice plus the training hours required to get ICF credentials. The number of students in online courses is limited, and students can learn the skills needed to coach individuals, groups, and workshops.

For further training opportunities, see our articles, 19 Best Coaching Training Institutes and Programs and 8 Best ICF Coaching Certification Programs and Courses .

A life coaching business plan doesn’t need to be complicated and must remain current, capturing the key actions and challenges.

Use the Life Coaching Business Model Plan or one of our templates from our How to Write a Life Coaching Business Plan: 5 Templates article to create an initial plan.

In this example, we target people who feel stuck in their career or their life (or both).

Business identity

What is the business called? “Clarity Life Coaching”

Target client

Our target clients are individuals who feel stuck, lost, or uncertain in their personal or professional lives. We focus on mid-career individuals or those experiencing significant life changes, such as divorce or career transitions.

Client pain points

Our clients struggle with a lack of direction, feel overwhelmed, and lack clarity about their goals and values. They may feel stuck in unfulfilling jobs or relationships and experience high stress or anxiety.

Your solution

Clarity Life Coaching provides personalized coaching services to help individuals clarify their values, goals, and priorities. Our coaching process helps clients identify their strengths and areas for improvement, develop a plan to achieve their goals, and overcome obstacles that may stand in their way. We use various coaching techniques , including goal setting, visualization, and Cognitive-Behavioral Therapy.

Your competition

Several life coaching businesses in the local area provide similar services, but our unique approach and personalized coaching services set us apart from the competition. We focus on a highly customized coaching experience tailored to each client’s needs.

Revenue streams

Our revenue streams include one-on-one coaching sessions, group coaching sessions, and workshops on topics such as goal setting and stress management.

Marketing activities

We use online advertising, social media marketing, and partnerships with local businesses and community organizations. We will also attend local events and conferences to promote our services and network with potential clients.

Existing and future expenses include rent for our coaching space, coaching materials, advertising and marketing costs, and attending events and conferences.

Team and their key roles

The team will consist of one life coach responsible for providing coaching services, managing client relationships, and handling administrative tasks such as scheduling and billing.

Initial thoughts on milestones include:

• Launching the business and securing our first clients within the first three months
• Expanding our client base by 25% within the first year
• Increasing revenue by 35% within the first year
• Hosting a successful workshop or seminar within the first six months of operation

Help mid-career individuals gain clarity and direction and achieve their personal and professional goals.

Your plan will evolve and should be revisited regularly to grow and manage your life coaching practice.

For many of us, marketing and advertising can fill us with fear – an unknown and confusing process.

So here are a few valuable pointers drawn from Seph’s The 7 Pillars of a Profitable Practice and Steve Chandler’s book How to Get Clients: New Pathways to Coaching Prosperity .

Your coaching website should be like a funnel

• When your visitor arrives on your website, they should:
• Know which problem you can help them solve or which goal you can help them achieve.
• Find clear evidence of your successful track record.
• Be confident in your abilities and experience.
• Be provided with some upfront value (perhaps a free e-book).
• Do not overcomplicate the website. Consider removing unnecessary content. The goal is for traffic to arrive as visitors and leave as leads (or sales).
• Make use of a call-to-action, either:
• Offer a giveaway in exchange for their name and email.
• Allow them to sign up for their first (complimentary) coaching session.

Productive conversations

Productive conversations and creating relationships lead to new clients.

• Make sure that you follow up on discussions promptly.
• After an initial chat, ask the potential client to complete a prequalification survey.
• Don’t leave them wondering. Tell them when they will receive a follow-up email.
• Don’t be needy (even if you would like their business).
• Be aware that the client will remember how you made them feel rather than precisely what you said.
• Talk less about yourself and your coaching and listen more to their problems.

Online writing

Writing for a personal blog or elsewhere can increase your reach, get you in front of clients, and help others take you seriously. But remember:

• Aim for quality over quantity – you are targeting the right kind of traffic.
• Change your mindset from “How do I find more clients?” to “How do my dream clients find me?”
• Know what people are looking for and create resources on that topic.
• Earned reach is the organic attention that you receive. Perhaps you got a mention in a podcast or on a news website. Paid reach has a cost, such as Facebook and Instagram ads or using the Google Ads Platform. Consider both.
• If you post on your website, consider your owned reach. You should appear in the search results, so get to know which keywords people are searching for when they look for help.

In The 7 Pillars of a Profitable Practice , Seph covers in more detail how to rank for keywords and create a content marketing plan that includes platforms with active audiences, such as:

• The Huffington Post
• Entrepreneur

Ultimately, your goal is for people with problems to find you so that you can help meet their needs.

Finding the right name for your coaching business is not easy. Too obvious, and it is either likely to be already taken or so bland that it will not be memorable.

One approach involves using AI to create life coaching business names . Use it or your own research to consider and evolve potential names, thinking about:

• The customers’ first impression
• The identity and brand of your business
• The type of customer you wish to attract
• How memorable the name is (and for the right reasons)
• Whether the name is already being used

Here are 10 names to start you off:

• Coaching for Success
• The Successful Living Academy
• Evolve Coaching
• Courage Coaching
• The Breakthrough Coach
• The Change Academy
• Coaching for Vitality
• Abundant Life Coaching
• Positive Change Coaching
• The Courage Academy

The following articles offer more suggestions regarding how to build and promote an online coaching business.

• How to Get Clients for Life Coaching [5 Strategies] provides more information and guidance on nailing your business’s value proposition, marketing funnel, and online and offline strategies.
• How to Start an Online Coaching Business: Step-by-Step Plan is a practical guide for building a successful and profitable business.
• How to Start a Life Coaching Business From Scratch explores what you will need and your first moves to becoming an online coach.

10+ Software & Forms to Use in Your Practice

There are several online platforms for coaching, many of which are introduced in the article 12 Best Online Coaching Platforms & Tools .

PositivePsychology.com’s dedicated coaching software Quenza is compelling and unique because it:

• Is extraordinarily user friendly and intuitive
• Uses the latest SSL encryption to store client results to ensure HIPAA and GDPR compliance
• Is highly scalable, growing with your business
• Stores forms as customizable templates
• Securely delivers exercises and forms to clients
• Enables form completion on mobile, tablet, or desktop
• Nudges clients when they need a reminder to do something

In How to Send & Build Counseling Client Intake Forms Digitally , we explore how to create and share online forms using the Quenza platform.

Next, our two articles, Coaching Forms Toolbox: 17 Templates for Your Sessions and How to Create Feedback Forms: 3 Templates + Best Online Tool , explain how forms can be created from scratch, copied, or modified within the tool.

We suggest using the following forms:

• Pre-coaching questionnaire
• A self-contract to encourage client accountability
• Life domain satisfaction questionnaire
• Strength interview form
• Session rating scale
• Coach evaluation form
• End of therapy evaluation

Many other templates exist, including ones for visualization, mindfulness, goal setting, and benefit finding.

Fear, time constraints, and self-doubt can hold us back from starting a life coaching business. Learning to accept our barriers and shift our focus from ourselves to our clients can dramatically improve our chances of success.

Learning from the experiences of successful business owners like Seph Fontane Pennock can provide valuable insights and help us create a profitable and impactful practice.

You most likely feel like you have something to give to your dream clients. You wish to create an opportunity for positive change in their lives while delivering on a personal vision for a life coaching practice.

Creating a clear and achievable business plan can be simple and will help you find your ideal clients and offer them a path to setting and striving toward their goals.

Having read this article and been inspired to start your life coaching business, why not look at The 7 Pillars of a Profitable Practice and use the many lessons Seph learned along his journey to inform your business plans and give your clients their best chance of success?

• Blackbyrn, S. (2023, February 17). Does a life coach need a business license? Coach Foundation. Retrieved April 20, 2023, from https://coachfoundation.com/blog/life-coach-business-license/.
• Clutterbuck, D., David, S. A., & Megginson, D. (Eds.). (2016). Beyond goals: Effective strategies for coaching and mentoring.  Routledge.
• Lumia. (2022, August 4). Does a life coach need a business license and insurance? Lumia. Retrieved April 20, 2023, from https://www.lumiacoaching.com/blog/does-a-life-coach-need-a-business-license.
• Kanatouri, S. (2020). The digital coach . Routledge.
• Karmali, S., Battram, D. S., Burke, S. M., Cramp, A., Mantler, T., Morrow, D., Ng, V., Pearson, E. S., Petrella, R., Tucker, P., & Irwin, J. D. (2020). Clients’ and coaches’ perspectives of a life coaching intervention for parents with overweight/obesity. International Journal of Evidence Based Coaching and Mentoring , 18 (2), 115–132.
• Mann, A., Leigh Fainstad, T., Shah, P., Dieujuste, N., & Jones, C. D. (2022). “It’s nice to know I’m not alone”: The impact of an online life coaching program on wellness in graduate medical education: A qualitative analysis. A cademic Medicine , 97 (11S), S166–S166.
• Ribbers, A., & Waringa, A. (2015). E-coaching: Theory and practice for a new online approach to coaching . Routledge.

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The Executive Coaching Process: A Comprehensive Guide

What is executive coaching.

Executive coaching is a specialized form of coaching designed to help executives and leaders enhance their professional performance and achieve their goals. It is a collaborative process between the coach and the client, aimed at unlocking the potential of the individual and maximizing their effectiveness in their role.

Definition of Executive Coaching

Executive coaching can be defined as a structured and confidential partnership between an executive coach and an executive client, with the goal of developing leadership skills, improving performance, and driving personal and organizational growth. It involves a series of targeted conversations and interventions that enable executives to gain clarity, overcome challenges, and optimize their decision-making abilities.

Purpose and Benefits of Executive Coaching

The purpose of executive life coaching is to provide guidance, support, and feedback to executives, enabling them to enhance their leadership capabilities and achieve their professional objectives. Through the coaching process, executives can gain self-awareness, identify areas for improvement, and develop strategies for growth and success.

Executive coaching offers a range of benefits for both the individual being coached and the organization as a whole. Some key benefits include:

• Enhanced Leadership Skills : Executive coaching helps individuals develop and strengthen their leadership abilities, allowing them to navigate complex business environments with confidence and effectiveness.
• Improved Performance : By working with an executive coach , individuals can identify and address performance gaps, leverage their strengths, and optimize their overall performance.
• Increased Self-Awareness : Executive coaching provides a safe space for self-reflection, enabling executives to gain a deeper understanding of their values, beliefs, and behaviors. This self-awareness can lead to personal growth and improved decision-making.
• Enhanced Communication and Relationship Building : Effective communication is crucial for successful leadership. Through coaching, executives can enhance their communication skills, build stronger relationships with their teams, and foster a positive and productive work environment.
• Increased Confidence and Resilience : Executive coaching helps individuals build confidence in their abilities and develop resilience to overcome challenges and setbacks. This increased confidence can have a ripple effect, positively impacting both personal and professional aspects of their lives.
• Accelerated Career Growth : Executive coaching can fast-track career growth by providing executives with the necessary tools, strategies, and insights to excel in their roles and seize new opportunities.

By understanding the definition, purpose, and benefits of executive coaching, individuals can gain valuable insights into this transformative process. The subsequent sections will delve further into the role of an executive coach, the coaching process, techniques and tools used, measuring success, and finding the right executive coach to support their professional journey.

The Role of an Executive Coach

In the world of executive coaching, the role of an  executive coach  is crucial in guiding and supporting individuals to reach their full potential. An executive coach plays various roles, including providing guidance, offering feedback, and facilitating personal and professional growth. Let’s explore the  responsibilities and qualifications  of an executive coach, as well as the importance of  building trust and rapport  with clients.

Responsibilities and Qualifications of an Executive Coach

Executive coaches have a range of responsibilities in helping their clients achieve their goals. They provide a safe and confidential space for clients to explore challenges, set objectives, and develop strategies for success. Some common responsibilities of an executive coach include:

• Goal Identification : Working closely with clients to identify their specific goals and objectives, whether it’s enhancing leadership skills, improving team dynamics, or navigating career transitions.
• Providing Guidance : Offering guidance and support in developing strategies, refining skills, and overcoming obstacles.
• Offering Feedback : Providing constructive feedback to help clients gain insights into their strengths and areas for development.
• Accountability : Holding clients accountable for actions and commitments made during the coaching process.
• Supporting Growth : Supporting clients in developing new perspectives, skills, and behaviors that contribute to personal and professional growth.

To become a qualified executive coach, individuals often undergo specific training and may pursue certifications in executive coaching. These certifications validate their expertise and ensure they possess the necessary skills and knowledge to support their clients effectively. Coaching certifications can be obtained through reputable programs that provide comprehensive training in executive coaching methodologies, ethics, and techniques. For more information, check out our article on  executive coaching certification .

Building Trust and Rapport with Clients

Building a foundation of trust and rapport is vital in the executive coaching relationship. Clients need to feel comfortable and confident in sharing their challenges, aspirations, and vulnerabilities. As an executive coach, establishing trust involves:

• Confidentiality : Ensuring that all coaching conversations remain confidential, creating a safe space for clients to explore their thoughts and feelings.
• Active Listening : Demonstrating active listening skills by fully engaging with clients, providing undivided attention, and seeking to understand their perspectives.
• Empathy and Understanding : Showing empathy and understanding towards clients’ experiences, challenges, and emotions, fostering a sense of connection and support.
• Non-Judgmental Approach : Adopting a non-judgmental stance, creating an environment where clients can freely express themselves without fear of criticism.
• Respect and Integrity : Demonstrating respect for clients’ values, beliefs, and goals, and acting with integrity throughout the coaching process.

By establishing trust and rapport, an executive coach can create a strong foundation for a productive coaching relationship. This partnership allows clients to explore their potential, overcome obstacles, and achieve their desired outcomes.

In the next section, we will delve into the executive coaching process, including  initial assessment and goal setting ,  creating a coaching plan , and  regular coaching sessions . Stay tuned to discover more about the journey of executive coaching.

The Executive Coaching Process

The  executive coaching process  is a structured and collaborative approach that helps executives and leaders enhance their skills, overcome challenges, and achieve their professional goals. This process typically involves three key stages:  initial assessment and goal setting ,  creating a coaching plan , and  regular coaching sessions .

Initial Assessment and Goal Setting

The executive coaching journey begins with an  initial assessment . During this stage, the coach works closely with the client to understand their current situation, challenges, and aspirations. This may involve conducting interviews, assessments, or gathering feedback from colleagues and stakeholders. The purpose of this assessment is to gain a comprehensive understanding of the client’s strengths, weaknesses, and areas for improvement.

Once the initial assessment is complete, the coach and client collaborate to establish clear and measurable goals. These goals should align with the client’s professional objectives and address any specific areas of development. Goal setting is a critical step as it provides a roadmap for the coaching process and serves as a benchmark for progress evaluation. It is important to establish realistic and achievable goals that can be broken down into actionable steps.

Creating a Coaching Plan

With the goals in place, the coach and client work together to  create a coaching plan . This plan outlines the strategies, techniques, and activities that will be employed to support the client’s growth and development. The coaching plan may include a variety of interventions such as skill-building exercises, feedback sessions, role-playing, or assessments.

The coach plays a crucial role in tailoring the coaching plan to the specific needs and preferences of the client. They may draw upon  executive coaching techniques  such as active listening, powerful questioning, and goal setting to guide the client towards their desired outcomes. It is important for the coach to maintain open lines of communication with the client throughout the process, ensuring that the coaching plan remains relevant and adaptable as circumstances evolve.

Regular Coaching Sessions

Once the coaching plan is established, the executive coaching process involves  regular coaching sessions  between the coach and client. These sessions provide a dedicated space for reflection, exploration, and learning. The frequency and duration of the sessions may vary depending on the client’s needs and availability.

During the coaching sessions, the coach facilitates discussions, provides guidance, and challenges the client to think critically and creatively. They may explore different perspectives, identify patterns, and offer feedback to support the client’s growth and development. The coach also encourages the client to take ownership of their progress and to apply the insights gained from the coaching sessions in their day-to-day work.

The executive coaching process is an ongoing and dynamic journey. It is important for both the coach and client to commit to regular sessions and to maintain a high level of engagement and accountability. By actively participating in the coaching process, executives can enhance their leadership skills, overcome obstacles, and achieve their professional goals.

For more information on executive coaching and its benefits, check out our articles on  executive coaching ,  executive coaching certification , and  executive coaching programs .

Techniques and Tools Used in Executive Coaching

Executive coaching involves a range of techniques and tools that help clients unlock their potential and achieve their professional goals. These methods are designed to facilitate self-reflection, goal setting, and action planning. In this section, we will explore three key techniques commonly used in executive coaching:  active listening and powerful questioning ,  feedback and reflection , and  goal setting and action planning .

Active Listening and Powerful Questioning

Active listening is a fundamental skill in executive coaching. Coaches use active listening to fully understand their clients’ perspectives, challenges, and aspirations. By providing their undivided attention, coaches create a safe and supportive environment where clients can freely express themselves.

In addition to active listening, coaches employ powerful questioning techniques to stimulate deeper thinking and self-discovery. These questions are thought-provoking, open-ended, and targeted to help clients gain new insights, challenge assumptions, and explore alternative perspectives. Through active listening and powerful questioning, coaches guide clients toward greater self-awareness and clarity.

Feedback and Reflection

Feedback and reflection play a crucial role in the executive coaching process. Coaches provide timely and constructive feedback to help clients understand their strengths, areas for improvement, and blind spots. This feedback is essential for fostering growth and development.

Reflection is another valuable tool used in executive coaching. Coaches encourage clients to reflect on their experiences, actions, and outcomes. By engaging in introspection, clients can gain deeper insights into their behaviors, beliefs, and values. This self-reflection enables clients to make more informed decisions, enhance their self-awareness, and develop their leadership capabilities.

Goal Setting and Action Planning

Setting clear goals is a vital component of executive coaching. Coaches work with clients to identify their aspirations and define specific, measurable, achievable, relevant, and time-bound (SMART) goals. These goals serve as a roadmap for the coaching journey, providing direction and focus.

Once goals are established, coaches collaborate with clients to develop action plans. Action plans outline the steps, resources, and timelines needed to achieve the desired outcomes. Coaches provide guidance and support throughout the implementation of these plans, helping clients stay accountable and make meaningful progress toward their goals.

By employing these techniques and tools, executive coaches facilitate the growth and development of their clients. Active listening and powerful questioning foster self-awareness, feedback and reflection promote continuous improvement, and goal setting and action planning drive results. Through the effective use of these techniques, clients can maximize their potential and achieve their professional objectives.

Measuring Success in Executive Coaching

After engaging in the  executive coaching process , it is essential to assess the effectiveness and impact of the coaching engagement. This section focuses on three key aspects of measuring success in executive coaching:  evaluating progress and development ,  assessing the impact of coaching , and  ensuring long-term growth and sustainability .

Evaluating Progress and Development

To gauge the progress and development of the individual being coached, it is important to establish clear goals and objectives at the beginning of the coaching engagement. These goals serve as benchmarks for measuring progress and provide a basis for evaluation.

Regular check-ins and assessments throughout the coaching process allow both the coach and the client to evaluate the extent to which the client has achieved their goals. This evaluation can be done through self-assessment exercises, feedback from colleagues or stakeholders, and objective measurements of performance metrics.

Assessing the Impact of Coaching

Assessing the impact of coaching involves examining how coaching has influenced the client’s behavior, performance, and overall effectiveness as a leader. This assessment can be conducted through various methods, including surveys, interviews, or 360-degree feedback.

By collecting feedback from relevant parties, such as colleagues, subordinates, and superiors, it becomes possible to gain insights into the client’s growth and development as a result of the coaching process. This information helps to validate the effectiveness of the coaching engagement and provides valuable data for further development.

Long-Term Growth and Sustainability

Successful executive coaching goes beyond short-term goals and aims to foster long-term growth and sustainability. It is important to consider the lasting impact of coaching on the client’s leadership capabilities and their ability to apply the skills and insights gained from coaching in their day-to-day work.

Long-term growth and sustainability can be measured by tracking the client’s progress over an extended period. This can include regular follow-up sessions or periodic assessments to monitor the client’s continued growth and development.

In summary, measuring success in executive coaching involves evaluating progress and development, assessing the impact of coaching, and ensuring long-term growth and sustainability. By employing various assessment methods and tracking the client’s progress, coaches can effectively measure the outcomes of the coaching engagement. This information can then be used to further refine coaching techniques and maximize the results for future clients.

For more information on executive coaching, check out our articles on  executive coaching certification  and  executive coaching programs .

Finding an Executive Coach

When seeking the services of an executive coach, it’s essential to find someone who aligns with your goals and can provide the support you need. Here, we will explore the qualities to look for in an executive coach, questions to ask when choosing a coach, and factors to consider during the selection process.

Qualities to Look for in an Executive Coach

Finding the right executive coach is crucial for a successful coaching journey. Consider the following qualities when evaluating potential coaches:

• Experience : Look for coaches with a solid background in executive coaching and relevant experience in your industry or field.
• Credentials : Check for certifications or credentials from reputable coaching organizations, such as the International Coach Federation (ICF) or the Association for Coaching (AC).
• Communication Skills : An effective coach should possess excellent communication skills, including active listening, empathy, and the ability to provide constructive feedback.
• Trustworthiness : Trust is the foundation of a successful coaching relationship. Seek a coach who demonstrates integrity, confidentiality, and professionalism.
• Adaptability : A good coach should be adaptable and able to tailor their approach to meet your specific needs and goals.
• Coaching Style : Consider whether the coach’s coaching style and techniques resonate with your preferences and learning style.
• References and Testimonials : Request references or testimonials from previous clients to gain insights into their coaching experience.

By considering these qualities, you can identify an executive coach who possesses the necessary expertise and characteristics to support your growth and development.

Questions to Ask When Choosing a Coach

To determine if a particular executive coach is the right fit for you, ask the following questions during the selection process:

• What is your coaching philosophy and approach? : Understand the coach’s methodology and how it aligns with your expectations.
• What is your experience working with individuals in a similar role or industry? : Assess their familiarity with the challenges you face in your specific professional context.
• How do you measure progress and success in coaching engagements? : Inquire about their approach to tracking progress and evaluating the impact of coaching.
• What is your availability and preferred mode of communication? : Determine if their availability aligns with your schedule and if they offer remote coaching options if required.
• What is your fee structure and coaching package options? : Discuss the financial aspects of coaching, including fees, duration, and any additional services provided.

Asking these questions will provide valuable insights into the coach’s expertise, availability, and coaching style, helping you make an informed decision.

Factors to Consider in the Selection Process

While the qualities and answers to your questions are important, there are additional factors to consider when selecting an executive coach:

• Chemistry : Establishing a strong rapport and feeling comfortable with the coach is essential for an effective coaching relationship.
• Geographical Location : Consider whether you prefer a coach located near you or if you are open to remote coaching options.
• Budget : Assess whether the coach’s fees fit within your budget, keeping in mind that coaching is an investment in your professional growth.
• Recommendations : Seek recommendations from trusted colleagues, mentors, or professional networks who have had positive experiences with executive coaches.

By considering these factors alongside the qualities and questions mentioned earlier, you can make an informed decision when selecting an executive coach who can support your growth and development.

Remember, finding the right executive coach is a personal decision. It’s important to select someone who can provide the guidance, support, and expertise you need to achieve your professional goals.

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What is executive coaching: benefits for the 2024 workforce

Many think that executive coaching is for the exclusive realm of the C-Suite. And at one point, it was. But professional coaching is now more accessible than ever — and no matter your position on the organization chart , you have the capacity for growth and leadership development . 

If you feel stuck or behind in your professional journey, there’s a way out. Working with an executive coach can generate the self-awareness you need to unlock your potential and advance your career.

What is executive coaching?

Executive coaching is a professional development strategy that involves a coach working with an executive (or any other high-potential employee ) to unlock their potential, enhance their performance, and achieve their goals. The primary aim of executive coaching is to improve leadership and management performance, often by developing the individual's self-awareness, emotional intelligence , and capacity to influence others.

Coaching relationships have a similar dynamic, no matter the niche. A coach’s role is to inspire and support their client as they work toward their full potential — and beyond. With their help, you learn to see yourself more clearly — and with compassion — and discover the extent of your capabilities.

What is an executive coach?

An executive coach specializes in supporting clients as they develop the leadership and high-level skills necessary to succeed as business leaders. Their clients are often highly motivated and achievement-orientated professionals looking for an edge to take their careers to the next level. 

The practice is action-based, meaning the coach focuses both on altering a client’s thinking and encouraging tangible work and progress. Working with individuals or groups, the coach aims to nurture intelligent, capable, and ambitious employees ready to take their place as leaders in the business world.

But you don’t have to be destined for the boardroom to benefit from executive coaching. A good coach meets you where you are and tailors their practice to fit your needs and goals. As you two work together to generate a development plan, your coach can offer a fresh perspective on your abilities, strengths, and weaknesses. 

12 types of executive coaching

Before jumping into your search for an executive coach, here’s an introduction to the different types. Take a look at this list and see which best aligns with your unique needs and aspirations.

• Performance coaching : A performance coach provides strategies and tactics to help employees execute their tasks more effectively. They focus on elevating clients' skills and techniques so they’re more effective at what they do.
• Developmental coaching : This one's for the personal growth enthusiasts. It's about expanding your capacity to juggle roles, navigate complexity, and conquer challenges.
• Skills coaching : Got a skill you want to polish? That's where Skills Coaching comes in. Be it public speaking , time management, conflict resolution, or any other professional skill , this type of coaching has got you covered.
• Career coaching : If you're contemplating a career transition or aiming higher on the ladder, Career Coaching can guide you through your career goals, options, and paths.
• Onboarding coaching : New to an organization or role? Onboarding Coaching will help you blend into the company culture, understand your duties, and hit the ground running.
• Transformational coaching : This digs a little deeper, focusing on changing underlying beliefs and attitudes that shape behavior. Get ready for profound shifts in your perception, thinking, and actions.
• Team coaching : This isn't a solo journey. Team Coaching involves guiding an executive and their team towards improved teamwork, communication, and performance.
• Strategic coaching : For those with an eye on the horizon, Strategic Coaching assists in devising and executing strategic plans, setting long-term goals, and determining the steps to achieve them.
• Organizational or business coaching : Using coaching skills, business and organizational coaches support companies by assisting them in identifying organizational goals and building a plan to achieve these targets. They usually work holistically, improving productivity and performance across the entire operation.
• Management coaching : Newcomers to management often need to build a new skill set. That’s where a management coach comes in: they train leaders-to-be in planning, organization, and implementation skills while enhancing their resource and people management competencies.   
• Executive team coaching : Teamwork is often challenging. Executive team coaching takes a bilateral approach to support working groups by improving communication and collaboration to boost overall performance. Leaders learn to manage their teams effectively while team members become more productive. The process involves coaching, teaching, facilitation, mediation, and positive psychology.
• Executive leadership coaching : A leadership coach works with promising employees to develop the necessary skills to make better decisions and become the company's next generation of executives. 

Executive leadership coaching is characterized by seven benefit-generating attributes:

• Acquiring and offering feedback
• Recognizing development opportunities
• Developing awareness
• Generating solutions by asking the right questions
• Encouraging lifelong learning
• Offering long-term support
• Establishing a system of accountability and monitoring progress

Remember, each form of coaching serves a distinct purpose and addresses varying needs. As an executive, you may find yourself engaging in multiple types of coaching throughout your career, depending on your evolving ambitions and hurdles. The choice ultimately depends on your unique situation, the challenges at hand, and the goals you're striving for.

Why executive coaching works

A recent study found that 77% of executives who worked with a coach found improvements to at least 1 of 9 business measures, with overall productivity and employee satisfaction receiving the largest increase. Researchers concluded that executive coaching produced a 788% return on investment.

As impressive as these results are from a business standpoint, executive coaching is even more impactful for the individual. Here’s how executive coaching benefits you on a personal level: 

Achieve your goals faster

Your coach helps you identify your dreams and ambitions. You work together to set SMART goals with achievable milestones and concrete deadlines — all transferable skills. Then they keep tabs on your progress so you meet targets according to your timeline. 

Stay accountable 

Work doesn’t end at the close of a session. You should receive assignments to finish independently and within a specific timeframe. You can’t put them off — you’ll discuss the results during your next meeting. These time management skills developed with your coach lend themselves well to your professional life. 

Gain an open-minded perspective

Coaches shed light on new possibilities. They show you how to look at challenges from different perspectives, apply your skills in new ways, and shed limiting beliefs . This knowledge infuses your work with empathy and encourages you to be a better listener.

Make better decisions

Difficult choices are often stressful. Working with a coach pushes you to ask better questions and evaluate options from different viewpoints to identify the best solution. And when you’re stuck, your coach can be a valuable sounding board to help you sort through the possibilities and find your way.

Stay motivated and focused on your goal

When you’re busy with day-to-day challenges at work, it’s hard to focus on yourself. A coach can step in and redirect your attention back to your goals and provide the encouragement necessary to stay on target.

Feel appreciated

When someone invests in developing your potential, you can’t help but feel valued. A coach not only lends a supporting hand, but enables self-improvement and career growth that encourages you to appreciate your worth.

What to look for in an executive coach

Coaching is an unregulated industry. Not every coach completes a certification course or development program. If you’ve decided to pursue coaching, research potential candidates and evaluate their experience, credentials, and outcomes before you commit.

Remember: choosing a coach is a big decision. You owe it to yourself to take the time necessary to ensure you’re comfortable and that your choice can help you achieve your desired success. Here are a few things to look for:

Leadership and corporate experience

While you don’t have to be a CEO of a multi-national company to train other executives, familiarity with the necessary leadership skills is a must. 

Your coach is there to guide you through your professional growth journey with advice and insights. Experience as a leader in your field empowers them to offer relevant perspectives and solutions.

Proper credentials

While professional coaching certification isn’t required to become an executive coach, it offers clients security and peace of mind to know they’re in qualified hands. 

According to the International Coaching Federation (ICF), there are three levels of certificate programs. Each level requires the candidate to demonstrate a thorough understanding of coaching principles, complete hands-on training, and exhibit dedication to upholding the profession's ethical guidelines:

• Associate certified coach (ACC) candidates must complete 60 hours of in-class training and 100 hours of client coaching experience.
• Professional certified coach (PCC) consists of 125 hours of coach-specific training and 500 hours of client coaching experience.
• Master certified coach (MCC) requires PCC certification, 200 hours of in-class training, and 2,500 hours of client coaching experience.

Without professional oversight, anyone can still call themselves a coach. Always double-check that your top choice is accredited to ensure you receive the safe, effective guidance you need.

Style and values 

Finding the right coach is a personal process and requires some self-reflection. What kind of coach do you want to work with? Are you more comfortable with a straightforward, practical style of guidance? Or do you prefer a gentle-natured, diplomatic delivery? These are important considerations, but keep in mind that no coaching style is inherently better than another. You need to choose the coach that works for you and your unique needs. 

The only hard-and-fast rule is you don’t want to compromise on listening skills. Your coach needs to listen — really listen — to what you’re saying in order to be an effective guide.

Experience and background 

Has your coach worked in your industry? Depending on your field, this may be an essential factor. On the other hand, it may be refreshing to work with someone outside of your niche who can provide new perspectives an insider can’t. 

Also consider a coach’s reputation. Do they have glowing testimonials from their prior clients? Can they present case studies showing how they’ve helped others transition into a leadership role? Are they the right person to help you achieve the same success?

Take the next step in finding your executive coach

If you’re ready to take the next step to become a great leader but aren’t sure what it should be, executive coaching is for you. 

Working with a coach who can help fuel your career transformation isn’t just an investment in your future. It’s a commitment to grow, develop, and strive to be your best self. And you deserve that.

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Elizabeth Perry, ACC

Elizabeth Perry is a Coach Community Manager at BetterUp. She uses strategic engagement strategies to cultivate a learning community across a global network of Coaches through in-person and virtual experiences, technology-enabled platforms, and strategic coaching industry partnerships. With over 3 years of coaching experience and a certification in transformative leadership and life coaching from Sofia University, Elizabeth leverages transpersonal psychology expertise to help coaches and clients gain awareness of their behavioral and thought patterns, discover their purpose and passions, and elevate their potential. She is a lifelong student of psychology, personal growth, and human potential as well as an ICF-certified ACC transpersonal life and leadership Coach.

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Coaching Business Plan

Quick and Easy Business Plan For Life, Executive, Health, and Business Coaches

• Mistakes to Avoid in a Coaching Business Business Plan

Crafting an effective coaching business business plan is a crucial initial step for aspiring coaches. However, many aspiring coaches make common mistakes in their business plans that can hinder their growth and success. What are some examples of these mistakes, and how can they be effectively avoided? Let’s explore these pitfalls and discover strategies to steer clear of them in your coaching business journey.

Avoiding Common Pitfalls When Developing Your Coaching Business Business Plan

#1 Neglecting Market Research

One of the most common mistakes in coaching business business plans is failing to conduct thorough market research. Without a clear understanding of your target audience, their needs, and the competitive landscape, you are essentially navigating blindfolded. To avoid this mistake, invest time in researching your potential clients, their pain points, and the existing market players. This will help you tailor your services and marketing strategies more effectively.

#2 Skipping a Niche Definition

Coaching is a broad field, and many coaches make the mistake of trying to be everything to everyone. Failing to define a specific niche can dilute your message and make it challenging to attract the right clients. In your business plan, outline a clear and distinct niche that you can excel in. This will not only help you stand out but also allow you to become an expert in a particular area.

#3 Overlooking a Marketing Strategy

A business plan without a well-defined marketing strategy is like a ship without a compass. Many coaches underestimate the importance of marketing in growing their business. Avoid this mistake by detailing your marketing plan in your coaching business business plan. Consider online and offline channels, content creation, social media, and email marketing to reach your target audience effectively.

#4 Ignoring Financial Projections

A coaching business, like any other, requires a sound financial plan. It’s a mistake to underestimate the importance of creating detailed financial projections in your business plan. This includes revenue forecasts, expense estimates, and profit margins. Realistic financial projections will help you secure funding if needed and ensure you are on the right track to profitability.

#5 Underestimating Pricing Strategies

Determining the right pricing strategy is a crucial part of your business plan. Many coaches make the mistake of setting their prices too low, undervaluing their services, or pricing themselves out of the market. Research your competition, consider your expenses, and strike a balance that reflects your expertise and meets your target clients’ expectations.

#6 Lacking a Growth Plan

Your coaching business should not be stagnant. It’s a common mistake to create a business plan without considering the future. Include a growth plan in your business strategy, outlining how you will expand your services, hire additional coaches if necessary, and scale your operations. Thinking ahead is crucial for long-term success.

#7 Omitting a Client Retention Strategy

Many coaches focus on acquiring new clients and forget about retaining existing ones. Neglecting a client retention strategy can lead to a leaky business model. In your business plan, detail how you intend to keep clients engaged, offer ongoing value, and build long-lasting relationships.

#8 Ignoring Legal and Regulatory Considerations

Running a coaching business often involves legal and regulatory considerations, such as contracts, liability insurance, and compliance with local laws. Failing to address these issues in your business plan can lead to legal troubles down the line. Consult with legal professionals to ensure your coaching business operates within the boundaries of the law.

#9 Not Seeking Professional Help

Lastly, don’t make the mistake of thinking you can do it all on your own. Seek the help of professionals, such as business coaches, accountants, and legal experts. They can provide valuable insights and guidance to avoid many of the common mistakes in business planning.

By avoiding these common mistakes and taking a strategic approach, you can set a solid foundation for your coaching business, positioning it for growth and long-term success. Remember that a business plan is a dynamic document, so be prepared to revisit and adjust it as your coaching business evolves and grows.

SPECIAL BONUS — If 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 HERE to get it FREE .

Jeannie Cotter Editor/Writer Writer, Coaches Training Blog community

• How to Compile a Sports Coaching Business Plan

Are you wondering how to compile a sports coaching business plan that sets you up for success? Well, starting a sports coaching business can be an exciting and rewarding venture for sports enthusiasts and experts alike. However, like any other business, it requires careful planning and execution to succeed. One of the crucial steps in launching a sports coaching business is to create a comprehensive business plan. In this article, we will walk you through the process of compiling a sports coaching business plan that sets you up for success.

A Guide on How to Compile an Effective Sports Coaching Business Plan

Creating a comprehensive sports coaching business plan requires careful consideration of several essential elements to ensure the success and sustainability of your venture. Here are some key components you should include in your plan:

Executive Summary

Begin your business plan with an executive summary. This section should provide a concise overview of your sports coaching business. Include key details such as your business name, location, mission statement, and a brief introduction to your coaching services. This section should offer a snapshot of your business’s purpose and goals.

Market Analysis

Conduct thorough market research to understand your target audience and competition. Identify the sports you specialize in, your target demographics, and the demand for coaching services in your area. Analyze your competitors and their strengths and weaknesses. Use this information to define your unique selling points and competitive advantages.

Services and Programs

Describe the coaching services and programs you plan to offer. Be specific about the sports you’ll focus on, the age groups you’ll cater to, and any specialized training you’ll provide. Outline how the structure of your coaching sessions, including duration, frequency, and any additional services like video analysis or fitness training, will be implemented.

Target Market

Identify your target market in detail. Define your ideal clients, considering factors like age, skill level, and location. Explain how you plan to reach and attract your target audience, whether through local advertising, online marketing, or partnerships with schools and sports clubs.

Marketing and Promotion

Detail your marketing and promotion strategies. Develop a marketing plan that includes social media marketing, a website, email marketing, and any other relevant channels. Specify your budget for marketing activities and create a timeline for implementation.

Operations and Management

Explain how your sports coaching business will operate on a day-to-day basis. Discuss the staffing requirements, including the qualifications and experience necessary for coaches and support staff. Outline your facility and equipment needs, as well as any partnerships or collaborations you plan to establish.

Financial Projections

Compile financial projections for your sports coaching business. Create a detailed financial plan that includes startup costs, monthly expenses, revenue forecasts, and a break-even analysis. It’s crucial to have a clear understanding of your financial expectations and how you plan to fund your business.

Funding and Investment

If you require financing to launch or expand your sports coaching business, outline your funding needs. Explain whether you’ll seek funding from investors, banks, or other sources. Include information about how you plan to repay any loans or investments.

Legal Considerations

Discuss the legal structure of your business, such as whether it will be a sole proprietorship, partnership, LLC, or corporation. Address any licensing or certification requirements for coaches, and ensure that you comply with all local regulations and laws related to sports coaching businesses.

Risk Assessment

Finally, identify potential risks and challenges that your sports coaching business may face. Develop a risk mitigation plan that outlines how you’ll address these challenges and ensure the long-term sustainability of your business.

Now that you know how to compile a sports coaching business plan that sets you up for success, you’re well-equipped to embark on your entrepreneurial journey in the world of sports coaching. With a solid plan in place, you can confidently move forward, attract clients, and make a positive impact on athletes’ lives while achieving your own professional and financial goals. Remember that ongoing adaptation and dedication are key to thriving in this competitive industry, so stay committed to your vision and continuously refine your coaching skills to stay ahead of the game. Good luck!

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 .

• A Christian Life Coach Business Plan with Purpose

How can one craft a Christian Life Coach business plan with a deep sense of purpose, paving the way for the transformation of lives through faith-based coaching? In the world of Christian life coaching, this question serves as the foundation for a journey that intertwines faith, guidance, and personal growth. A purpose-driven business plan in […]

• Developing a Christian Life Coach Business Plan

Are you looking to embark on the path of entrepreneurship with a well-structured Christian life coach business plan? Crafting a successful Christian life coach business plan is not just a practical endeavor; it’s an opportunity to combine your faith with your passion for helping others thrive. By integrating biblical principles and a genuine commitment to […]

• Mastering the Art of Planning a Coaching Business

Planning a coaching business is an exciting and rewarding endeavor that allows you to share your expertise, help others achieve their goals, and create a fulfilling career for yourself. However, the journey from conceptualization to a thriving coaching practice requires careful navigation through a series of. Whether you’re a seasoned professional venturing into coaching or […]

• Developing a Business Plan for Health Coaches

Ever wondered how to write a business plan for health coaches? In today’s fast-paced world, health and wellness have become paramount concerns for individuals seeking to lead balanced lives. As the demand for personalized guidance and support in achieving fitness and well-being goals continues to grow, the role of health coaches has emerged as an […]

• How a Life Plan Kit Can Bring Focus to Your Ambitions

If you’re seeking a clearer direction in life or your coaching business, a life plan kit could be the perfect solution to bring focus to your ambitions. With its powerful tools and goal-setting features, the life plan kit acts as a personal roadmap, guiding you towards your desired destination. By defining your ambitions and breaking […]

• How to Create a Profitable Coaching Business

Want to create a profitable coaching business? Look no further! In today’s fast-paced world, coaching has emerged as a lucrative and fulfilling profession, with many individuals seeking guidance and support to achieve personal and professional growth. As a result, coaching businesses have become highly sought after. However, achieving success in this competitive field requires careful […]

• Cultivating Success through Business Coaching Plans

Business coaching plans provide a transformative and often overlooked source of guidance and support that plays a vital role in cultivating success. A business coaching plan empowers clients to set clear objectives, develop action plans, and stay focused on their long-term vision, maximizing their growth and achievement. A trusted coach fosters resilience and continuous improvement, […]

• How to Develop a Coaching Business Plan

To effectively develop a coaching business plan, it is crucial to recognize its significance as a foundational step for building and expanding your coaching practice. A business plan serves as a roadmap, guiding coaches through strategic decisions, defining goals, and outlining the necessary steps to achieve them. In this article, we will explore the essential […]

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