8 Steps To Starting an Online Home-Based Coaching Business
Starting a coaching business can be a daunting task. However, there’s plenty of wisdom on how to do it online. People share tips from their own experiences, stories and so on. There are endless resources and all of this is available to you if you have enough time to do research and figure out which tips are good and suitable for your business and which ones are not. The process really is overwhelming. So we have compiled a list of steps that you need to take in order to start your coaching business. Here they are:
There are many types of coaching - Which one will you do?
Coaching is a broad topic and it can cover various things. However, you need to opt for one of the niches. Will you do small business coaching, language coaching, public speaking coaching or something else entirely? This one is something you probably already have a vague idea on so it will not be a big deal. Just combine your interests and expertise with a comprehensive program of learning. When my friend was wondering about coaching and thinking about getting into it, his biggest problem was the inability to decide on a niche. I helped him by exploring what he loved to do the most and we arrived at the conclusion that he loves public speaking and that he is good at it - so, he did just that. This is something you can do - just look into your life and figure out what is the topic that you could work on every day without losing enthusiasm.
Think about getting some training first
Before you start coaching on any subject, get some training. This will help you be a better coach and it will also help your students learn better. You need great reviews if you want your students to value you and if you want them to keep coming so this is one of the best things that you can do.
Having an official confirmation, a ccertificate or a dimploma that you are, in fact, a good coach. You can even hang it on the wall - I, personally, feel it helps people be reassured of your worth.
Decide on your business structure
Business structure is an important thing in your business life. You have several options and each one of these options comes with certain pros, cons and legal requirements.
- Sole Proprietorship
- Limited Liability Company (LLC)
- S Corporation
Learn enough on each of these types and pick one that suits your possibilities and conditions best. It’s best to go to a professional who can help you with this based on your own needs. My company, for example, is a solo proprietorship.
Pick a business name
“Choosing a business name may not seem like such a big deal at first but it can be once you start thinking it over. There are so many names in this world that it can be hard to decide which one suits your business best. This is entirely up to you. Yet, you should make your business name relevant to the niche you are working in and there should be a keyword in there, if at all possible,” says Neville Jones, a business consultant at Bigassignments and Eliteassignmenthelp.
Choose something that’s meaningful to you and that it’s something with good symbolism. You can even go for funny, if thats your brand personality. You can even use your own name and that would suffice.
Choose a marketing and sales funnel
How will you sell your services? Through your website, social media or any other platform? How will you market your services? There are many options for each of these and you need to make decisions that will work well for your business. Of course, these can change but it’s good to start in a good spot. I started on my own website and used social media heavily until I started getting clients. Most of my friends did it too. But your best bet is to try out several methods until you arrive at a conclusion.
Gather everything you’ll need
What will you need for your coaching business? Get a good phone and a good headset for phone coaching, find a good platform for online coaching and so on. I, personally, like to go for video chats more. I used Skype for a while, but you should choose an option that would match most of your clients.
Start a website
Having your own website is a great starting point when it comes to building a coaching business. In a way, it’s your storefront, a place you’ll send people to when they ask for more information. It’s also a place where people can book you and possibly learn something from your content.
As a storefront, your website needs to look good. This means that you will have to create a stellar design and write great content and copy that can sell your services. If you are not a great writer you have two options - hire someone or learn it yourself. Our recommendation would be to learn how to write yourself because it will be much easier. Especially with these resources:
Create a marketing strategy
For one, figure out where you’ll market your services. This is very important because it will dictate your content, to a point. Create an email list building strategy and a social media strategy that will help you promote your services. You should make sure that all of this is mapped out before you start. At first, you might feel desperate with your marketing. But, with a bit of effort, you can definitely do it.
Starting any business is hard but rewarding. You can expect many hurdles along the way but you should know how to overcome them and have the necessary amount of motivation to do so. Enjoy your new business and create a good standing point for yourself by thinking in advance.