Business plan coaching is an integral part of business coaching, All business, from small to large, need a business plan. Whether your client is the owner, CEO, executive, or manager of a company, a business plan is am essential document that helps define and guide the business.
Why is a Business Plan So Important?
Some people think optimism and passion are enough to build a successful business. Sometimes, perhaps they are. But, usually, the time invested in creating a business plan will pay off big time, and make passion and optimism even more valuable.
The most obvious benefits of having a business plan are:
- A clear statement of the business purpose and mission.
- A clear statement of the values of the business.
- A blueprint to start and manage the company.
- An analysis of the industry, the competitors, and the market.
- A detailed analysis of the target market.
- A description of the products and services to be offered.
- A financing statement that can be presented to investors and creditors.
- A description of the business model.
- A description of possible marketing strategy and promotional efforts.
It’s easy to see how important a business plan is, and and if you’re not offering business plan coaching as part of your business coaching business, you’re letting your clients down!
Strategic Planning – Business Plan Super-Sized.
A business plan offers a general roadmap for success, but a strategic plan takes this one step further and gets into the nitty, gritty details of how a business will progress from Point A to Point B. Business plan coaching also means strategic plan coaching.
Building a strategic plan isn’t difficult, but it takes some research, and it involves a few basic steps. As a business plan coach, you need to work these steps with your clients and help them understand the importance of a strategic plan and how to create one that works!
3 Steps to Strategic Planning Success
- Capture. This is where data is collected that will help you develop goals, suggest possible changes, and create solutions and positive outcomes for an organization.
- Prioritize. This is where you take all the data that has been collected and determine the level of importance based on needs, immediacy, future plans, and potential issues or problems.
- Organize. This is the step where the data is organize into a plan. The plan should be based on the goals and the priorities, and then made clear to everyone on the team or in the company.
Strategic planning is fairly basic, but it does take time and patience. Strategic planning is also crucial to business success, some time and patience should be fully used. Business plan coaching is only half as good if there is no strategic plan coaching.
Be the Best Business Coach You Can Be
Business coaching encompasses a wide range of topics and issues. Tow of the most overlooked areas are business plan coaching and strategic plan coaching. Do your clients a favor and be the best coach you can be by educating them about the business plan and the strategic plan.