10 Key Steps to Launching a Thriving, Successful Coaching Business
So, you’re thinking about starting a life coaching business?
First, congratulations! You’re about to embark on a journey that’s part inspiration, part perspiration, and all-around life-changing.
And more importantly, you’re stepping into fulfilling what I believe is a sacred calling to help others.
But where do you begin? Fear not, because I have the ultimate “Starting a Coaching Business” checklist for you! It’s the roadmap you need to pave your way toward a successful coaching business.
Why Would You Even Need a Roadmap?
Like many new business owners, when I started my coaching business, I wanted to jump right in.
I was excited about my decision to lean into my calling to do greater work in the world. I just wanted to help people!
When I started my coaching business, I focused on doing exactly that.
And at the end of my first year, not only did I help people, but I also made just over $20,000.
There was only one problem. I spent $22,000 to make twenty, bringing my income during my first year in the coaching industry to negative $2,000.
The truth was, I didn’t know how I was going to pay my rent. And part of me was second-guessing my decision to become a coach in the first place.
I knew I didn’t want to give up on my dream. So, I had no other choice but to gather up my pride and ask for help. I got guidance from the coaches I knew had already created success in the industry- the kind of success I wanted.
And it ended up being the decision that changed everything.
The very next year, my coaching business hit 6-figures, and has only grown since then.
Who knows how long that success would have taken me had I continued trying to figure it all out myself.
The Thriving Coach Checklist is a great place to start!
Part of our mission at Brave Thinking Institute is to help aspiring coaches like you. We want to help you balance that exciting sense of inspiration with the practical steps to create success.
We created this “starting a life coaching business” checklist only after training and supporting thousands of coaches from all over the world.
But, this isn’t just another list of basic steps you need to take to start a business. (If that’s what you need, you can find that here)
This is a checklist of the most important elements that make the difference between starting a coaching business and launching a THRIVING, SUCCESSFUL coaching business.
If that isn’t enough to convince you to download your copy of this free resource, here’s what’s inside:
Step 1: Self-Reflection
Before diving in headfirst, take a moment to reflect on your own life. Creating a vision for the coaching career you want is an incredibly important step. (But so many coaches skip over it!)
Our coaching checklist guides you through the exact questions you can ask to help you craft a crystal clear vision. Questions like:
- What experiences and skills have you gained that can benefit others?
- What would your ideal coaching career entail?
- What kind of coaching business would you love to call your own?
Coaching is about helping people reach their potential. By understanding your strengths and your vision for the coaching career will help you tap into your own!
Step 2: Identify Systems for Transformation
Certification is not required to become a life coach, but it is a good idea. I encourage you to invest in your education and training. Your clients will appreciate your expertise, and it’ll boost your confidence.
Ultimately our guide will walk you through the importance of identifying a system of transformation. Understanding how you’ll help your clients achieve results is an important step to take before you ever begin seeing clients.
Step 3: Choose Your Niche
Imagine you’re at an ice cream parlor, and there are a hundred flavors to choose from. Your job is to pick the flavor you like most, not all of them.
Similarly, choose a niche- a group of people- that you’re passionate about helping. Picking a niche will help you stand out and attract the right clients.
Understanding your ideal client will help you understand how to find them, as well as how to speak directly to your target market.
Step 4: Master Enrollment
Finding coaching clients is just the first step to building a thriving coaching business. Once you find them, you still need to enroll them into your coaching programs.
This is often a step in the process that new and even established coaches struggle with!
Our free coaching checklist gives you the four most important elements needed to have ethical and effective enrollment conversations.
Step 5: Technology & Payments
A truly successful coaching business is one that works with your life. Securing the technology you need to make sure it runs smoothly and professionally is an important step.
Afterall, you want to be able to put your full attention into each coaching session. You don’t want to constantly worry that your meaningful work will be delayed or interrupted by lost connections or difficult processes.
Whether your dream is to coach from a beautiful home office…
Or you’d love to live the laptop lifestyle and travel while you help people…
Set up the technology that works best for you and the business you want.
Step 6: Collect Feedback
Not only will collecting client feedback help improve your coaching, but it’s also an integral part of your marketing plan.
Getting great client testimonials is an art. Most new coaches don’t realize how important and challenging this process can be.
Want more on this topic? Click here for our guide to getting great client testimonials (and save our templates while you’re at it!)
Step 7: Design a Simple Business Model
As with any business, you need to have a framework in place to protect yourself and your clients. Coaches have to think about personal data breaches, copyright infringement, lawsuits, and failed payments, even as they’re helping others.
The Thriving Coach Checklist reveals some of the essentials to consider before launching your coaching career!
Step 8: Scale Your Small Business
Many coaches make the mistake of treating their business like a corporate job, trading time for money.
This usually means doing everything on their own and trying to do everything at once…
A sure recipe for burnout and financial disaster! Spending hours and hours doing everything yourself will only stress you out and make you fall out of love with coaching.
To escape this trap, you need to consider making your business conducive to “scaling.”
The Thriving Coach Checklist will help you understand the basics of scaling, and how to start when you’re ready.
Step 9: Continuous Self-Improvement
The world of coaching is ever-evolving, and so should you.
Keep enhancing your coaching skills, staying up to date with the latest trends, and attending workshops or webinars. Your ability to adapt and grow will not only benefit your clients but also keep your business on the cutting edge.
Not to mention that by growing as a person, you will in turn become a more impactful and successful coach.
You’ll have a greater impact on your clients’ lives…
And those clients will in turn positively impact others, their family members, their friends and their communities.
Get more concrete ideas for tangible growth, self-improvement, and professional development in the checklist!
Step 10: Celebrate Your Milestones
This step isn’t’ included in the Thriving Coach Checklist… but it’s important nonetheless.
I want to encourage you to recognize your achievements along the way. Whether it’s landing your first client, reaching a financial goal, or expanding your services, celebrate your milestones.
Acknowledging your success not only boosts your morale but also motivates you to reach for even greater heights.
Starting a coaching business can be an immensely rewarding venture!
Next Steps: Download Your Full Copy of the Thriving Coach Checklist
While the steps to success may seem daunting at first, this checklist simplifies the process.
Our goal was to help make a thriving coaching business accessible to anyone, even those with no prior business experience.
With dedication, continuous learning, and an unwavering commitment to helping others, your coaching business has the potential to flourish and make a meaningful impact on the world.
Go out there and start your journey towards building a thriving and fulfilling coaching business!