There are different paths for health and wellness coaching: independent business offering coaching services, contract coach, employee who does coaching, or a combination. For those interested in having a business, whether as a contractor, part time, or full time, it makes sense to start with a plan.
The Small Business Administration explains a business plan: “A business plan is an essential roadmap for business success. This living document generally projects 3-5 years ahead and outlines the route a company intends to take to grow revenues.” (https://www.sba.gov/writing-business-plan)
As with any business, the plan is developed as a road map and it includes research findings, marketing strategies, a budget, and a defined course of action. As a coach, there are several significant considerations including niche areas for the services provided, who and how you are marketing to, whether to plan multiple streams of income (such as publications, trainings, speaking, and group coaching), and your bio defining your education, experience, and coach training.
Writing the business plan is a helpful process because it challenges you to be specific and intentional with your plan and approach. It provides the foundational guidelines and helps create your infrastructure.
Excellent resources are offered at:
- sba.gov – Small Business Administration
- http://asbdc-us.org/ – Association of Small Business Development Centers
- score.org – Senior Corp of Retired Executives (SCORE)
Additionally, coach training programs with the Center for Coaching Certification include classes on business and marketing.