How to Write a Life Coaching Business Plan

How to Write a Life Coaching Business Plan

A life coaching business plan is the ideal foundation on which to start your business. Putting a business plan to paper might seem daunting at first, but creating a basic, effective plan is easier than you might think. Every business needs a blueprint, and life coaching is no exception. A life coaching business plan offers structure, vision and organization. It helps you know where you're headed and how to get there before you begin.

Creating a Life Coaching Business Plan

1. Craft a mission statement. What is your vision for your business? An example statement could be, “I motivate small business owners to achieve their goals and dreams." Be as concise and specific as you can.
2. Define your service. What's your niche or specialty? Do you want to help the newly unemployed, Christians, single mothers, entrepreneurs, corporate executives, etc.?
3. Describe what you have to offer. What is your training, experience, certifications, degrees or other credentials?
4. Marketing. List the specific ways you plan to promote your business.
5. Additional products. A life coaching business plan should include additional possible income streams, even if they won't go into effect immediately. What other related items can you offer for sale? Diversify your income in ways that make sense for your business.
6. Target clients. Identify your ideal/target market in detail. Where are they? What do they do? What outcomes are they seeking?
7. Your business structure. What type of business will you form? A corporation? A sole proprietorship? Will you have any employees? What permits and licenses do you need?
8. Your grand vision. Your life coaching business plan should also include what you think your coaching practice will look like in one year, two years, five years. Dream big, and go for it -- the world needs truly inspiring coaches!

Writing a life coaching business plan takes time and effort, but it will give you a solid foundation for your coaching practice both now and in the future.