People who take up professions related to human development and stretch other individuals’ capacities lead happy lives as they always feel that they have given others a hand for help. Life coaching is one of the most rewarding businesses for anyone who enjoys helping others achieve their goals. However, not everyone with the skill to help others achieve their goals can turn that into a successful business. Only with the right tools and guidelines can a coach become an entrepreneur. Today is a lucky day for all life coaches aspiring to build a business for their own services. I will walk you through essential guidelines to know how to start a life coaching business. Also, you will have access to a well-organized and comprehensive business plan to help you plan your business concretely.
So as not to keep you waiting, scroll down for all you need to start your business.
How To Start A Successful Life Coaching Business
Just an essential disclaimer before I set off and tell you about how I think you should start your business: all the guidelines and how-tos I tackle here are based on practical experiences managing projects and interacting with business owners from different fields. These serve as a guide in addition to the local policies and regulations related to your country to start a business in life coaching.
So, how can you, an entrepreneur, open a life coaching business?
First, check this article on how to start a coaching business, and then complete your knowledge package with the following.
I am sharing these because I believe the life coaching business can go completely wrong and off track if handled unprofessionally or naively.
1. Overpromising is a killer in a life coaching business
Upfront your clients on what you can and can not do since day one. I know you want to make their life easier, happier, and more fulfilling, but this is not an excuse to overpromise and make your customers set very high expectations for you. They will eventually get disappointed and might ruin your reputation after a couple of clients. Also, you are a coach, not a magician. If you are unsure about something, be honest and speak very transparently with your client. It is always better to be honest than to lead them on.
2. Crossing the Boundaries is a red flag
The nature of the life coaching sessions can lead to crossing the limits with some of the clients. Some coaches tend to forget how important it is to set clear agendas with fixed timetables for the sessions with clients. As a coach, you also need to explain your roles and responsibilities in each coaching relationship and how you, a coach, will handle difficult conversations during the sessions.
3. Not Paying Attention To Your Own Wellbeing does not help
Put yourself first.
You provide excellent support to others in their lives only when you take care of yourself. Make sure you prioritize your mental and physical wellbeing while managing a coaching business. This means you need to eat and sleep well, take enough breaks between the coaching sessions, and set enough time for yourself. Do not let the problems of your clients become yours to the extent that you lose yourself while trying to support them.
4. Being too “friendly” is a problem
Don’t open the door for gossip and negative talks as a coach. Yes, you have to be friendly and approachable, but this does not mean you forget about the importance of a professional setting in your coaching relationship. Maintaining confidentiality is not something to be jeopardized here either.
Download A Business Plan Template For Your Coaching Business [ in Google Docs]
Another key to failure when starting your life coaching business is not planning well. You need an exceptionally written and organized business plan with clear goals, strategies, and financial projections. This will also be a great tool if you plan to look for investors or partners for your business.
We have got your back. If this is your first time coming across Albusi’s professional services, let me tell you about the Real-Content Template (RCT) invention we provide to entrepreneurs. RCTs are real-life examples (not just templates) that provide the main essential sections for your pitch deck or business plan. There are many downloadable examples available on the website. BetterLife is our related RCT to use in your life coaching business plan. The template will give you an idea to write your mission and vision, business information, marketing strategies, services offered, competitive advantage, and financial projections.
You can download (and edit) the template through the Albusi website or here:
The templates are based on fictional companies. They are only meant to provide you with more realistic content rather than the “lorem ipsum” versions spread on the internet.
Final Thoughts – How To Start A Life Coaching Buisness
Putting everything together, you now have some guidelines to help you start a successful life coaching business. Just remember how important it is not to overpromise and cross your boundaries. Pay attention to your wellbeing as a coach and maintain a professional attitude at all times. Additionally, you have a great business plan template to plan an impactful life coaching business for your community and build this on a solid foundation.
And, of course, if you’re out of time and want a consultant to help you plan and complete this, you can always contact one of our freelancers. They will help you draft a complete business plan for your coaching business and help you in pitching it to others, too.
I highly recommend it.
Meet The Author Of This Article
I’m Jenny Ayman, a project manager in the development field with specific knowledge and experience in capacity building and entrepreneurship programs. I aspire to transfer the hands-on experience I gain in my professional career through writing.
Also, if you need help planning your business, I recommend checking out some of our freelancer’s business plans or pitch decks!
