How to Create a Business Plan for Your Coaching Business

Every successful business starts with a plan. A well-structured business plan for your coaching business will assist you in reaching your ideal customers and investing your time and energy where it matters most.

You can help people solve their problems. If your current efforts have yet to enable you to reach those who need your coaching, you need a business plan.

So, let’s explore a few essential elements of a coaching business plan.

Your Target Market

The first step in creating a successful business plan is to become familiar with your target audience, or as we like to call it at The Coach School, your “Perfect Person.”

Take a moment to envision your Perfect Person. How old are they? What is their lifestyle like? Why do they need you?

Keep your perfect person in mind as we progress through the rest of your business plan.

The Problem

When thinking about your ideal person, the next step is to establish what problem you solve and deeply understand it. The more precise your understanding of the problem, the more empowered you will be to make informed decisions on engaging and serving your ideal person.

Do you help busy moms who want to eat healthy but don’t know how? Perhaps you help others gain control of their chaotic finances. What problem do you solve? Consider some significant needs people have in an area where you are qualified to help: finances, health, relationships, business, etc.

Your superpower can either:

• Give your clients a tangible outcome they can’t get anywhere else 
• Provide an emotional experience they can’t get anywhere else.

The Solution

Once you’ve identified the problem you solve, it’s time to consider the solution you offer. Start by identifying how you solve it. You can draw on your knowledge and experience to produce a tangible outcome for your clients or an exclusive emotional experience.

Your solution might be custom meal plans, grocery shopping lists for busy moms who want to eat healthily, or one-on-one coaching that helps clients pinpoint their financial pitfalls.

What you have to offer

Let’s combine what we’ve learned so far. You have a problem, a solution, and your perfect person in mind. Now, it’s time to create an irresistible offer. Think about the unique value you can offer that sets you apart from other coaches.

Your offer is not just a solution to your client’s problems, but a unique and comprehensive package that addresses their needs. As a coach, your offer will likely be a coaching package. This package is a testament to your expertise and might feature related products.

After all, coaching is much more than just a conversation. What additional elements can you include in your coaching package besides one-on-one sessions? Access to an exclusive group? A waived enrollment fee in your course? Weekly check-ins? These are the extra touches that can make your offer truly irresistible. Take a moment to consider what your coaching package will include.

Pricing

When setting the price for your offer, it’s essential to consider what your target market is willing and able to pay. While you deserve fair compensation for your excellent service, it’s also crucial to ensure your prices are within reach for your ideal clients. To achieve this, you can consider pricing models such as hourly, monthly, or one-time fees to help you earn money and appeal to your ideal clients.

As a quick bonus and help, The Coach School™ has a short quiz that gives pricing guidance. This quiz will help you determine how much you should charge for your hourly rate as a coach so you can confidently serve your clients and make an impact doing what you love!

Marketing

Unfortunately, your ideal audience won’t just stumble upon your offerings. Your marketing should be authentic, generous, purposeful, innovative, and uplifting.

Through the use of story, marketing is a unique way to share your perspective and invite your Perfect Person into an emotional experience. After all, consumers make decisions on an emotional basis far more often than they do on a logical basis.

Spend time brainstorming how to use a story to connect with your Perfect Person.

Social media

When sharing your story, consider leveraging the power of social media. Social media platforms are practical tools for marketing your business and connecting with your audience. To begin, select one or two platforms where you can consistently engage with your audience and start producing valuable content to share your story and promote your business.

Referrals

Do you have a group of loyal customers or followers? You should consider asking them for referrals. Word-of-mouth marketing is incredibly powerful. If you’ve helped your clients achieve impressive results, don’t hesitate to ask them to speak highly of you! You can make the deal even more enticing by offering discounts or exclusive bonuses to clients who refer a friend.

Email

Creating a freebie for prospective clients and converting them into email subscribers is a fantastic way to market your business.

Start by showing off your expertise with an awesome free download. Your free download could be an e-book, download, quick guide, or anything that adds value. Once you have your free download created, choose an email marketing platform and set up a form where you can send people to input their email address in exchange for your awesome freebie!

Now that you have a growing list of email subscribers, use the power of story to write compelling emails that serve your prospective clients and show off your skills! Send emails that highlight your services, provide a quick win or give your audience a behind the scenes peek at what you do.

Sales

You’ve created and marketed an irresistible offer; bring on the sales! Believe it or not, sales isn’t a bad word. The sooner you get comfortable pitching your business and selling your services, the sooner you can help the people who need you.

Discovery Calls are the best way to close a sale with prospective clients. They are free 20-30 minute calls that you offer to those who express interest in your services.

Pro Tip: Make sure your website offers opportunities to book a free Discovery Call. Use Calendly to schedule calls seamlessly.

Once you have a call scheduled, it’s time to show off your expertise. A Discovery Call aims to help you better understand your potential client’s pain point so you can position yourself as the expert who can help her. Listen well, provide a quick win on the call, and either pitch your services or ask to send a detailed proposal.

When locking in sales, Discovery Calls are the most effective way to connect with your Perfect Person and show them why you’re the right coach for them.

Putting it all together

Congrats! You now have the beginnings of a business plan. Want to learn how to put your plan into action like a pro?

The Coach School™ is for women like you- to help you make an impact in the lives of others, find financial freedom, and gain the work-life flexibility you deserve.