You have what it takes to help people solve the pain points in their lives. If your current efforts haven’t given you the ability to reach those who need your coaching, you need a business plan.
Any successful business starts with a plan. A solid business plan for your coaching business will help you reach your ideal customer and invest your time and energy where it matters most. Let’s explore a few essential elements of a coaching business plan.
Your Target Market
The first step in a successful business plan is getting familiar with your target audience, or as we like to say at The Coach School, your “Perfect Person.”
Take a moment to imagine what your Perfect Person is like. How old are they? What is their lifestyle like? Why do they need you?
Keep your perfect person in mind as we work through the rest of your business plan.
The Problem
With your perfect person in mind, the next step is establishing what problem you solve. The clearer your identification of the problem, the easier it will be to make informed decisions on how to engage and serve your Perfect Person.
Do you help busy moms who want to eat healthy but don’t know how? Maybe you help others get control of their chaotic finances.
Not sure what problem you solve? Think about some big needs people have in an area where you are qualified to help: finances, health, relationships, business, etc.
Your superpower can either: A) give your clients a tangible outcome that they can’t get anywhere else, or B) provide an emotional experience they can’t get anywhere else.
The Solution
Once you’ve got a grip on the problem you solve, it’s time to think about the solution you offer. Start by identifying how you solve the problem. You can draw off of your knowledge and experience to produce a tangible outcome for your clients or an exclusive emotional experience.
Using the examples above, your solution might be custom meal plans or grocery shopping lists for the busy mom who wants to eat healthily. Or one-on-one coaching that helps your client pinpoint their financial pitfalls.
What you have to offer
Let’s bring what we’ve learned so far all together. You have a problem, a solution and your perfect person in mind. Now it’s time to create an irresistible offer.
Your offer is the way you address your client’s problems and neatly package your solution. As a coach, your offer will likely be a coaching package. A coaching package outlines all the perks of your one-on-one coaching and might feature related products. After all, coaching is much more than just a conversation.
What will your coaching package include besides one-on-one sessions? Access to an exclusive group? A waived enrollment fee in your course? Weekly check-ins? Take a moment to consider what your coaching package will include.
Once you have an idea of what your offer is don’t forget to think about pricing. You’ll want to consider how you will price your offer. How do you determine pricing that is reasonable and aligned with what your target market is able and willing to pay? Glad you asked!
As a quick bonus and help to you, The Coach School™ has a short quiz available at https://thecoachschool.com/quiz/ that gives pricing guidance. This short quiz is for you if:
- You second guess what’s the right rate to charge as a coach
- You have a hard time believing that someone out there is willing to pay you what you’re worth
- Imposter syndrome keeps you from charging more for your coaching services
If any of these thoughts resonated with you, then The Coach School™’s quiz, “What’s the perfect rate to charge for your coaching business?” will help you determine how much you should charge for your hourly rate as a coach so you can confidently serve your clients with ease and make an impact doing what you love!
Within 3 minutes of taking the quiz, you’ll get:
- Your perfect hourly rate to charge your clients
- A personalized plan for how to grow your online coaching business
- A free bonus resource to help you get more clients
Marketing
Sadly, your perfect person won’t magically stumble upon your offer. You’ve got to spread the word about what you do with great marketing!
The good news? No car salesman or telemarketing tactics needed. Your marketing should be authentic, generous, intentional, creative, and encouraging.
Story
One of the ways you can embody this kind of marketing is through the use of story.
Stories are 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 some time brainstorming how you can use story to connect with your Perfect Person.
Social media
Looking for an outlet to share your story? Get active on social media! Social media is a powerful way to market your business. Pick a platform or two that you will regularly show up on and start creating content!
Referrals
Have an existing pool of loyal customers or followers? Ask them for referrals! Don’t underestimate the power of word of mouth marketing. You’ve helped your clients achieve amazing results. Don’t be shy, ask them to brag on you!
You can sweeten the deal by offering discounts or exclusive bonuses for your clients that refer a friend.
Remember, your marketing is generous. 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 an irresistible offer and marketed it, bring on the sales! Believe it or not, sales isn’t a bad word. In fact, the sooner you get comfortable with 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. A Discovery Call is a free 20-30 minute call that you offer to those who express interest in your services.
Pro Tip: Make sure you have plenty of opportunities on your website for visitors to book a free Discovery Call. Use a free service like Calendly to seamlessly schedule Discovery Calls.
Once you have a call scheduled, it’s time to show off your expertise. A Discovery Call is meant to help you get a better understanding of 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 it comes to locking in sales, Discovery Calls are by far the most effective way to connect with your Perfect Person and show them why you’re the right coach for them.
Congrats! You now have the beginnings of a business plan. Want to learn how to put your plan into action like a pro?
Alli Worthington created The Coach School™ for women like you. Alli is a best-selling author, nationally known speaker, and high-profile business coach. Alli has coached thousands of men and women in business. From Fortune 500 companies to small businesses, Alli has built a career out of helping others start and grow successful businesses.
The Coach School™ exists to help you make an impact in the lives of others, find financial freedom, and gain the work-life flexibility you deserve.
If you think this is a strong call for you to act, you’re right! Your talents matter. Someone needs your coaching now. To learn how The Coach School™ can help you become the coach of your dreams!
