Coaching skills and process equate to doing the work. For those interested in having a coaching business, more is required. When establishing a coaching business, the process includes deciding on how to legally handle the ownership, choosing amongst the options for insurance, establishing bank accounts, bookkeeping and accounting, and setting up an office.
At the Center for Coaching Certification, after discussing these basics in a webinar, the conversation shifts to tools, business planning, and budgeting. The tools for a coach include coaching agreements, questionnaires, reminders of techniques, and continuing education.
A Business Plan for a coach includes:
- Executive Summary
- Company Description
- Management and Organization
- Products
- Services
- Marketing Plan
- Financial Plan
- Operating Plan
It serves the coach with focus for their business and becomes a resource for strategizing and action planning.
Budgeting for a business includes anticipating the costs of starting a business, setting up an office, marketing, and routine expenses.
When the small details of a business are taken care of, the coach is free to focus on providing quality coaching services. For this reason, on the coach login page at the Center for Coaching Certification are: a worksheet to plan starting a business, coaching agreements, a few dozen questionnaires, self-directed coaching sessions for coaches, a business plan outline, and an example budgeting worksheet. Making the business side easier supports your coaching success!
