Planning a good home coaching business is critical to the success of your business. Starting a home coaching business requires a lot of work, and there is a lot to learn. If you want to be successful in your new business, it is necessary to plan.
The Role of Coaches
What do coaches do? Coaches are individuals that work alongside their clients to get them to where they need to be. They help clients achieve goals that will improve their lives. Coaches, unlike Counselors, focus on moving their clients forward. They work on specific areas and actionable goals.
There are various types of coaches today, thanks to the experiences and skills they have acquired over the years in their previous careers and/or education (training), they are able to effectively help clients. Some of the most common types of coaches in the field of coaching include life coaches, health coaches, relationship coaches, behavioral health coaches, fitness coaches, business coaches, and career coaches. There is a coach for every type of situation or life issue.
Benefits of Operating a Home-Based Coaching Business
The beauty of running your coaching business from home is that it reduces your overhead costs, especially after dishing out so much money for your coach training and certification. Also, you set your own schedule and are able to work around your clients’ schedules. Another benefit of having a home coaching business is being able to run your entire business by coaching clients over the phone and online via video conferencing. Video conferencing has made face-to-face coaching locally and globally attainable for clients.
In addition, there are a couple of tax breaks available when you work your coaching business from home. You can deduct a portion of your home’s operational and depreciation expenses on your residence as business expenses. Everything you need to get settled in as a professional coach can be done from the comfort of your home.
Importance of Planning a Good Home Coaching Business
There is a famous adage often attributed to Benjamin Franklin
“If You Fail to Plan, You Plan to Fail”
This quote basically means that planning in anything you are setting out to achieve is essential; and that if you don’t plan, then, you are planning on failing.
So let’s look at the importance of planning in your business:
1. Planning increases the efficiency of your business. It helps reduce wastage of resources and time.
2. Planning helps you to stay on the right track. You will be able to strategically distribute your resources and time.
3. Planning helps to achieve the objectives and goals of your coaching business. You can successfully accomplish milestones.
4. Planning helps you set expectations and track the progress of your business at different phases.
5. Planning helps you manage your cash flow. It enables you to identify any problems that will affect the revenue of the company and make the necessary adjustments.
6. Planning helps you create a clear message and/or brand for your business.
To succeed in a good home coaching business, you must take planning seriously. You might have the passion and resources to help people, but if you do not place planning at the top of your list before starting your coaching business, then you are setting yourself up to fail.
If you’d like to learn how you can get started in Wellness Coaching quickly, check out this FREE step-by-step “ Life Coaching Business Blueprint” video toolkit. Just go HERE now to get your life coaching business blueprint videos.
“Margaret K. Olubiyi
Writer, Coaches Training Blog community”