The new year is invariably a time of change for many, whether through shifting professional landscapes or personal career choices. Many workers in the UK had already experienced itchy feet in this regard, with something as simple as flexible working arrangements inspiring as many as 4 million to change roles in 2023.
However, the new year often inspires bigger changes – and now might be the time for you to make a bigger leap, from working within a field to coaching others. Whether you are a financial expert, business leader or even mental health advocate, coaching can be a thrilling, vital and lucrative step forward. How would you start a coaching business, though?
Get Accredited
Accreditation is a key consideration for anyone looking to coach in any industry or profession. In every case, accreditation is vital to fostering confidence in your service and brand, giving your prospective clients reason enough to trust your knowledge and experience.
As a coaching business, you will not find much in the way of legal or regulatory incentive to gain accreditation; coaching is an unregulated ‘industry’, apart from the regulatory requirements of regulated assessment and advisory positions. This is another reason for you to find an accreditation in your specialism, as it can elevate you against less-reputable actors within your field.
Create a Business Plan
As with any new entrepreneurial endeavour, your coaching concept will need a comprehensive business plan in order to enjoy the best possible likelihood of success. A multi-pronged approach is necessary, from time spent on market and demographic research to the registration of your business with HMRC.
In thinking about the bones of your business, it may be of benefit to you to consult a third party before finalising your structure and form. An independent, professional external opinion can be indispensable for ironing out wrinkles relating to your tax obligations or financial planning – improving your longevity as a result.
Launch, Marketing and Brand
The last element of getting your coaching business off the ground, then, is launching it. You might consider a soft-launch, wherein you offer your services at a reduced rate to connections within your personal or professional network in order to generate reviews and testimonials before you open to all clients.
A website is a vital component to your brand, being at once your CV, portfolio and contact form. Make sure it is sleek, readable, updated with reviews and testimonials from your soft-open clients, and SEO-optimised; altogether, these can have incredible results for discovery and client uptake.
Social media is another important part of your brand, and essential to your post-launch marketing. Twitter (or, as marketers must begrudgingly call it today, X) is perfect for outreach and direct engagement with prospective clients, while Facebook remains a powerful platform for paid advertising. Indeed, with Meta Business Suite, you can crosspost to Facebook and Instagram, and consolidate enquiries from each platform.
As you have seen, starting a coaching business is not too dissimilar to starting any other start-up. The key difference is trust. As a coach, whether a financial, professional or pastoral coach, your most valuable quality is trustworthiness – and involving that in every step of your launch can ensure you centre that message for your audience.