Congratulations, you’ve entered one of the fastest growing industries in the world. As a new life coach, you’re likely eager to want to use your newly acquired skills to support people. Unfortunately even the most comprehensive of life coach training does not cover much of the business of life coaching and you may be left unsure of how to get started.
Whether you’re going to be working as a life coach full or part time, these business basics are essential to get things moving.
1 - Legal Formation
One of the first decisions will be if you decide to register as self employed or incorporate a company. There are pros and cons to both, but if your ambitions are to scale your life coaching practice you may wish to create a company. If you’re unsure of the differences for your region, do some research or seek professional advice.
2 - Life Coaching Insurance
As a new life coach, you’ll likely need at the very least ‘professional liability insurance’ and if you plan to host sessions in person, you may also need ‘public liability insurance’ both of these insurances cover you for unlikely but potential challenges which may arise. You may be required to have other form of insurance in place, so it’s best to do extensive research based on where you live and work. An insurance broker may also be a good resource.
3 - Compliance
As with any business, you should check that you comply with the local laws and regulations. If you don’t feel comfortable navigating this yourself, you may wish to seek professional advice for your legal and tax obligations.
Branding & Marketing
As with any new business, it’s helpful to have these essential marketing tools to get started.
1 - A Website
Your website will help people understand who you are and showcase how you can support them as a life coach. There are many platforms you can use to design and launch your own professional website without any specialist knowledge such as Squarespace, Wix and Wordpress.
2 - Get Social
It’s important that people can find you online, so at the very least you should have an active profile on LinkedIn. Many life coaches also find Facebook a helpful way to find and connect with new clients through Facebook groups and events.
3 - Business Cards
Many life coaches find their clients through face to face events and networking. It’s therefore helpful to have some business cards handy. You can design and order a small amount through a website such as Moo.
After you’ve taken care of the business basics and got your marketing tools in place, it’s time to find clients. Get comfortable with telling people what you do and offering your services. It may take weeks or months to close some clients, so be patient and keep engaged.
1 - Create a Discovery Session
Many life coaches offer the first ‘discovery session’ for free as it helps encourage people to connect with you. You can add a calendar scheduling tool on your website, so people can book easily without any need to contact you. There are many tools you can use for simple calendar scheduling, and it’s one of the core functions built right into Practice.
2 - Leverage your Network
It’s vital that people know what you do, therefore sharing regular updates with your network will help spark engagement for your new life coaching business. Tell your friends, family and colleagues that you’re now a life coach, and ask them to refer people to you.
3 - Marketplaces & Directories
There are a growing number of life coaching marketplaces and directories which you can promote your business on. You may also wish to add your business to Google so people can find you when they search for life coaching in your region.
4 - Hosting Workshops, Webinars or Courses
One powerful way to connect with potential new clients is to host workshops, webinars or courses. This attracts a wider range of people, which you can connect with and eventually try to convert into personal life coaching clients.
5 - Membership with Professional Bodies
To build your credibility as a professional life coach, and to support your marketing it is worthwhile to join some professional bodies for life coaches. There are many options, some of the largest include; The Institute of Coaching, The Association of Coaching and the International Coaching Federation.
At Practice, we’ve created the essential tools you need to operate your life coaching business. Our platform gives you powerful tools and takes care of the scheduling, client management, invoicing and so much more. Leaving you to focus on supporting your clients. To learn more and try Practice, click here.