Life Coaching
MAP OUT YOUR LIFE COACHING BUSINESS

Businesses need a clear path to grow and thrive.

A life coaching business or practice is no different.

If you’ve never been to business school or if this is your first time as an entrepreneur, creating a map for your life coaching business may sound like a difficult or complicated task.

You might even think it’s unnecessary or unimportant.

Wrong on both counts.

Creating a map in the early days of your business will get you to think about the details that will set you up for success.

Keep in mind…

Your map is not carved in stone.

You might have to make small - or even big - changes along the way.

Unpredictable shifts in the coaching industry, an economic upturn or downturn, and other unexpected curve balls are part of being an entrepreneur and a life coach…

But even if you have to update your map, it can still work as a tool that will give you a sense of confidence as you navigate the unchartered waters of setting up a successful life coaching business.

Your map will consistently point you to your North Star – the dream business you want to build.

So, what goes into your map?

A good map includes 5 key areas:

Life Coaching

Don’t skip this step.

Countless coaches start with massive enthusiasm and excitement thinking they can grow their business “on the fly.” But it’s why they fail before they have a chance to celebrate their 1st anniversary in business as a life coach.

Life Coaching

It’s time to start building a framework to map out your business. Use the following questions to guide you. Don’t rush through this activity. Allow yourself to take as much time as you need.

1. Mission

  • What is the purpose of your work as a life coach?
  • Why do you do what you do?

Vision

  • What is the life-changing transformation you want to create for your clients?
  • How would you like to make a difference in the world?

2. Sales and Marketing

  • How do you plan to get the word out about your life coaching business? (eg; social media, networking events...)
  • Which social media channels will you use to build your online presence?
  • How can you learn to master sales and selling, and where can you learn more about marketing? (eg: attend trainings, take an online course...)

3. Budget to Reinvest

  • What are your funding sources (eg; investment from friends and family; a 9-to-5 job)?
  • What are the legal and tax requirements that you need to fulfill? How much do they cost?
  • How much can you invest in a life coaching certification or training to upgrade your skills?
  • How much can you invest in other expenses such as a website and business cards?

4. Offers

  • How many 1:1 coaching sessions do you want to offer each month?
  • Do you want to create group coaching programs, a membership site or retreats?
  • Are you planning to create online courses?

5. Pricing and Income Goals

  • What is your dream monthly and annual income?
  • What is the monthly and annual income that you need (the number that covers your basic needs and leaves you a little extra to play with)?
  • What is the dream price point you’d love to charge for 1:1 sessions in the future and/or any other offers and packages that you may have?
  • What’s a price point that feels comfortable for your 1:1 sessions and other offers right now? Helpful hint: charge just a little more than this “comfortable” number – it’s good to stretch out of your comfort zone.
  • What would need to happen to make you feel good about increasing your prices in the next few months?