The Dangers of Starting Your Own Coaching Business

| Posted: 28-03-2008 | Comments: 0 | Views: 42 | Rating: (63)

(?)

Hey! When you finally decide to go for it, please don't do what Christy did. Christy Brainer, one fine day, left her secure job as a librarian and decided to start up a life coaching business of her own. The young lady was enthusiastic, but her sense of planning was poor. Unfortunately in a couple of weeks she had to start hunting for a new job because her life coaching business shut down even before it could officially kick-off!

Well, let's not get into the details of how and why it all happened. No, we are not trying to scare you. All we are trying to say is it is important to plan well and stay organized.

On that note, let's take a look at the factors we have to pay attention to while setting up our very own Life Coaching business. And oh yes, it is obvious that finances are primary and no investment is possible without it.

1.Naming the Business
Now this is totally dependent on you and the attitude you want to display. It could be a thought or idea that expresses your brand identity like "A Better You", or you could name your business after you, "James McCauley's Life Coaching".

2.Company Formation
The safest way to commence your business would be to form a separate LLC business, even if yours is a part time business. This is so that your day job and personal assets are safe even if someone sues you! It's important to keep your business separate from your personal life. You must at least register for a tax ID number. This is important to proving how long you have been a business when getting a loan.

3.Telephone
Get yourself a new phone number before you start your business. This is a great way of ensuring that your personal and official calls are separated. Get two lines. One for your home and the other for your office room. If you can afford it, get a phone line with an answering machine.

4.Stationary
While meeting new people you need to hand over credentials or ID so they remember who you are, what you do and how they can get in touch with you. This is when you need business cards and letter-headed papers. You can also create a brochure about your services. Get them professionally designed and printed. They won't cost much and create sufficiently good impression on potential clients.

5.Computer
Once you start your business, you may have to check client emails. Buy yourself a computer with Internet facility. Computers can be very useful in doing a lot of paperwork, calculations and record-keeping for business. Your investment would be worthwhile. Get a computer from a trustworthy company and pick up a printer if possible. Get a fast and reliable ISP (Internet Service Provider). You are sure to get great deals from various firms.

6.Website
A website goes a long way in covering areas where you cannot make your physical presence felt. Moreover, prospective clients can get all the information they want about you from your website. It will be like a shop window to your business. At a time when every business organization goes for one, it will be against your credibility to not have a website.

7.Online Payments
How are your clients going to pay you? While some clients may pay by check or cash, most would prefer to use his credit card to pay you. Plus, since you will coach many people long distance on the phone, paying by cash or check becomes problematic. The easiest way to handle this is to set up a free Paypal account.

8.Autoresponders
Get your website an autoresponder that ensures that all visitors to your site are tracked and you can follow up with them as many times as you want. Do you know that it takes nearly 7 follow-ups to finally be able to sell something to your potential client and make a conversion? How do you propose to do that if you don't have their email address and contact details? Once the list of your clientel increases, you will not be able to manually send information. Autoresponder does that for you in a matter of seconds.

9.Insurance
Play safe and get insurance. Take up Home Business Insurance that will safeguard your equipment, and looks after issues like sickness, jury service and theft. You should also go in for Professional Liability Insurance since this covers you at times when someone sues you for breach of copyright or for what you have voiced, among others.

10.Advertising
Advertising is a crucial aspect to render publicity to your business. Try the following so you can bring attention to your business:
* Direct mailing
* Speaking
* Articles
* Magazines
* Newspapers
* Networking
* Pay per click

11. Accountants
From maintaining your records to minimizing your tax outlays, accountants can be really precious! Get one as soon as you start your business. Trust me. It's worth the investment.

Go over what you came across in this article and plan your business accordingly.

Think up names. Arrange for your business essentials. Plan your timing. Once you are done with your strategizing, see how it looks and whether it's just how you want it to be.

Rate this Article:

Current: 3 / 5 stars - 1 vote(s).

Article Tags: Life Coach Training, Coaching Business, Build A Coaching Business, Life Coach Res

Article Source: http://www.articlesbase.com/careers-articles/the-dangers-of-starting-your-own-coaching-business-371709.html

Print article

Send to friend

Publish this Article

Author feedback

About the Author:

Craig Miller is known as the Cake Coach, and he helps coaches learn how to have their cake and eat it too. If you want to accelerate your coaching business, then check out www.thecakecoach.com.

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Add new Comment

10 Ultimate Questions on Becoming a Life Coach
By: Craig Miller | 28/03/2008 | Careers
There are a lot of questions asked when it comes to looking for training in Life Coaching. Here are the top 10 Q & A on Life Coaching.

How to Become Filthy Rich as a Life Coach
By: Craig Miller | 01/04/2008 | Careers
Experienced coaches will tell you that personal coaching makes up just 25% of their earnings. This means that 75% of their income is derived from other sources. Keep this in mind as you set off on your Life Coaching business. Here are some popular money-making techniques in Life Coaching.

10 Tricks to Build Your Coaching Business
By: Craig Miller | 02/04/2008 | Careers
If you are thinking that you can make lots of money as a Life Coach, you are more wrong than right! Only Life Coaches with the largest exposure are taking home the dollars. Here are the tips & tricks to becoming a high-income Life Coach.

Dissecting the Life Coach Phenomenon
By: Craig Miller | 02/04/2008 | Careers
Life Coaching as a profession started in the 1980s. Then, it catered more to executives or managers. Now, this profession has developed to cover a lot of areas from helping people choose the right career options to managing difficult personal or professional relationships. But what is coaching all about?

How to Select Your Life Coaching Institute
By: Debbie Leslie | 24/07/2007 | Careers
The institute that you choose to get your life coaching training and diploma is probably the most important decision you have to make in your career as a life coach.

Life Coach: Control of the Subconscious Begins With These 7 Questions
By: Kelly Burris | 13/12/2007 | Self Improvement
What determines human behavior? This is a question that is not only not answered by anyone in the mental health community it is not even asked. THE Burris Life Coach is the only entity who definitively answers this question and THE Burris Life Coach is the only entity with the infrastructure to act upon the answer with the only clinically proven program process for depression.

Life Coach: Depression and the Only Proven Program Process to Fix it
By: Kelly Burris | 30/12/2007 | Health
THE Burris Life Coach has been the only Clinically Proven process for depression since 1992 and continues to be ignored by the very entities that are supposed to be responsible for the fix to this debilitating disorder.

Tips on Becoming a Life Coach
By: Eddie Hudd | 11/08/2008 | Coaching
Everybody needs a little motivation from time to time. Life just has a tendency to be overwhelming at times and people can often find themselves lost on the way to their goals. A life coach can take those goals and help put the person back on the right track to success. Do you have what it takes to help people get their lives in order.

Got a Question? Ask.

Ask the community a question about this article:

Q&A Powered by:

Latest Careers Articles

Learn from the School of Hard Knocks to Gain Business Career Success
By: Donald Mitchell | 05/09/2008
The article looks at the hard-won lessons of the school of hard knocks for building a successful business career.

Inside Scotland - Jobs, Culture And Economy
By: Dominic Donaldson | 05/09/2008
An article charting the industrial changes in the Scottish economy and the impact on present industry and employment.

Electrical Training - What You Should Know
By: James Copper | 05/09/2008
This article provides useful information on becoming an electrician

Why Not Start A Plumber Training Course?
By: James Copper | 05/09/2008
An informative article on how you could become a plumber

The Hardship Of Searching Through Essex Jobs
By: Anna Stenning | 05/09/2008
Discussing the problems that most graduates face, after graduation that is unemployment.

Scanning Film Negatives vs Scanning Prints
By: Stephen Cornfield | 05/09/2008
Why it is best to scan film negatives vs photographic prints when converting to a digital format.

A Guide to Corporate Emergency Response Planning And Choosing A Workplace CPR Training Provider
By: Christine OKelly | 04/09/2008
Choosing a workplace CPR training and first aid instructor as part of your Corporate Emergency Response Planning can be a life or death decision if first aid is ever needed at your company. This guide will assist a company in choosing a qualified safety training firm that is appropriate for your company's needs.

Resume Builders and Other Writing Software
By: Heather Eagar | 04/09/2008
Writing a resume can be a tedious task. There's so much information to include and organize (employment history, skills, education, career highlights, awards, etc.) that the process can easily overwhelm you if you let it. Luckily, there are now tons of resources available that make resume writing much easier. In particular,...

More from Craig Miller

Norm: The Whole Story of Living
By: Craig Miller | 27/03/2008 | Motivational
Follow along with the story of a young man who discovers the secret to a life worth living.

How To Get Out Of Your Boring Life
By: Craig Miller | 16/03/2008 | Motivational
Find the joy, vision, and passion, that you were born to have.

3 Principles to Have More Freedom and Joy in Your Coaching Business
By: Craig Miller | 13/03/2008 | Advice
Learn 3 principles to infuse your life coaching business with more income, joy, and success.

How To Take Your Coaching Practice To The Next Level
By: Craig Miller | 06/03/2008 | EBooks
Imagine keeping 100% of the profits with your own hot-selling coaching products,money deposited into your bank account non-stop day after day,and you can download the whole package instantly. today!

Article Categories

Article Marketing

Article Notepad

Stop Duplicate Content

Term Papers

Follow ArticlesBase at http://twitter.com

Need Help?

Sign up for our email newsletter

Receive updates, enter your email below

Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (0.24, 16)

The Dangers of Starting Your Own Coaching Business

Article Comments

Related Articles

Got a Question? Ask.

Latest Careers Articles

More from Craig Miller

Need Help?

Site Links

Webmasters

Business Info

Sign up for our email newsletter