Why Every Business Coach Needs a Business Plan to Attract Six-Figure Income

I've always been a big proponent of the Business Plan.  So it's no wonder that when I started coaching in 2004, one of the first things I did was create a business plan for my business coaching practice.  I still have that first business plan and I often wonder if I would have had the success I now enjoy without writing that first plan.

I mix and mingle with a community of coaches through meetings sponsored by the Phoenix chapter of the International Coach Federation.  I see coaches come and go.  At first new coaches are typically enthused about the coaching profession and the impact the vocation is having on society.  In addition, new coaches are excited at the potential of making a six-figure income from their own coaching practice.  At successive meetings I usually learn that the income isn't coming as quickly as they would like.  "Put out a shingle and open for business" has not worked to bring six-figure income to these new coaches.

So let's explore the reasons why business coaches and life coaches don't make more money and why they need a business plan. Then I'll show you an easy way to create your own Business Plan.

Attract the income you want by thinking like an entrepreneur
Many new coaches have never had their own business before becoming a coach. If business coaches ever expect to become successful entrepreneurs, they will have to treat their companies like a business and learn to think like an entrepreneur.  I don't see enough coaches doing this.  This is your business folks. Put the appropriate structure in place so that you appear as a professional business owner.  Invest in your business and get yourself a professional brand. Set up your own accounting software.  Accept credit cards in your coaching practice.  Create a schedule for your business and get organized. You will attract the income you want by respecting your business and creating the right structure with a business plan. 

Create a Vision of your ideal practice
Vision is an image of the ideal organization as you would like it to be five to ten years in the future.  Creating this vision helps you move towards having your ideal practice because it challenges you to imagine the perfect model for your life.  If your Vision is simply your life as it exists now, you will not attract the life you want.  If your business plan Vision states that you have six-figure income, you will appear on T.V. talk shows, have a radio show, and feature products on QVC; you will be motivated to eventually achieve this end result.  

Develop a marketing system through your business plan
Creating a business plan forces you to think through goals and strategies that will create a marketing system for your coaching practice.  What marketing tactics will you create that will bring clients straight to your front door?  What profitable niche will you target? What materials will you create to attract clients who are looking to solve specific problems in their business?   How will you reach out to prospects and clients on a regular basis? If you plan to create E-Courses, collaborate and hold joint workshops, compile videos for YouTube, and the like, you will be moving forward continuously rather than remaining stagnant with few clients.

Earn the fees you deserve by planning for it
Eighty percent of coaches are women who often have difficulty asking for the fees they deserve.  They stumble and mumble when asked what they charge.  How can coaches possibly earn six-figure income if they are only charging a few hundred dollars a month?  You'd have to have forty clients to earn six-figure income if this were the case.  Create goals for income, marketing tactics, and improving your expertise and you will increase your income annually.  If you don't have goals for income, guess what? You won't progress and you'll lose interest.  You'll never treat your practice like a business that has the potential to produce six-figure income.

Become a professional business owner by writing a business plan that will create the coaching practice you have always dreamed of.  Don't keep wishing for something that won't happen on its own without planning and strategizing. Let me help you with a system I've created!

Do you want to earn more money from your practice?

Purchase the Two Page Mini Business Plan™ today and discover the secrets to more income from the sample Business Coach Business Plan and the sample Life Coach Business Plan provided. 

You'll get everything you need to write your mini business plan, tons of marketing tools, and an automated E-Course to motivate you to complete your plan.

All products and bonuses are available for immediate download!

Click here to review everything you get.

There's no risk at all as I offer a money back guarantee. If you're not satisfied for any reason, just ask for a refund within three months of purchase.
Start on the road to a more ideal life today!

©Copyright 2009-2010 - Suzanne Muusers – All Rights Reserved

About the Author:

Suzanne Muusers is a successful Business Coach who has been coaching financial advisors since 2004. She is a credentialed member of the International Coach Federation (ICF) and serves on the board of the ICF Phoenix as the VP of PR and Marketing. She is the creator of The Two Page Mini Business Plan™ for Business Coaches who are ready to maximize their practice income and live the lifestyle they have always wanted.

See also Big Goals for a Life Coach- Build a Bigger Business Using a Business Plan and Boost Your Life Coach Business Income Using a Business Plan for additional information.

Suzanne Muusers ICF-Credentialed Business Coach Prosperity Coaching LLC

 

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