How to Start a Coaching Business Today!

Online coaching is on the rise! In 2023, the coaching business industry was measured to be over $20 billion. Economists predict this industry will keep growing year over year because of the strong demand. If you are someone who loves inspiring and being of service to others, starting a coaching business is a great move. The premise is tied to monetizing your skills through a service delivered in person or online. Anyone can easily learn how to start. The first step is to determine if they want to be a niche coach or a general one. In fact, with technology’s like OYOapp, anyone can start a coaching business in less than an hour.
Launching a successful coaching business to make supplemental or full-time income requires planning, some strategy, and execution. Here’s a comprehensive guide to help you get started.

What is a coaching business?

Coaching is using your skills and experience to help someone reach their full potential by providing guidance and support. A coaching business is based on a relationship between a coach (someone with the skills and experience) and a client seeking assistance with their personal and or professional goals. Coaches are able to provide feedback, insights and offer resources clients can use to succeed.

How do I make money with a coaching business?

A coaching business are conducted in either a one on one or group setting. Each appointment is called a session that can be managed in person or online. Each session has a starting and ending timeframe “30 minutes, 1 hour, etc.”. There are several types of coaching services you can offer. Career coaching is gaining steam and has a ton of opportunities. There are so many people graduating from college looking for jobs and need assistance. This can be with their resume’s, interview preparation, finding jobs and this niche is growing especially with tech career coaches.

Why should I start a coaching business?

There are a good number of creators and professionals who have pivoted to starting a coaching business because of their drive and passion to help people while making an impact on their lives. There are so many reasons why people decide to pursue this the journey of becoming a coach. It ranges from helping others, to following their passion, flexibility, financial potential, personal development/growth, continuous learning, having an impact, the high demand, and autonomy. But the top two reason why are flexibility and financial potential.

Coaching businesses are very flexible because people have the option to set their schedule to only get booked when they are available “outside their 9 to 5” and you can coach from anywhere (online or over the phone). Coaching businesses are financially rewarding. They have been known to generate $50k and up and you can generate more income by offering more services, creating group sessions, courses and products.

What are the types of coaching business?

A huge opportunity a coaching business provides is the plethora of types available for your consideration. Coaches can focus on improving personal aspects of peoples lives or specialize in relationships or hone in on turbocharging people’s careers. Online coaching is the foundational aspect of a coaching business today and if you need some popular types of online coaching businesses, here are a few to consider:

1. Career coach
2. Business coach
3. Technology coach
4. Creative content coach
5. Marketing coach
6. Health coach
7. Wellness coach
8. Life coach
9. Leadership coach
10. Sales coach
11. Spiritual coach
12. Finance coach
13. Relationship coach
14. Gaming coach

How do I start a coaching business?

Starting a coaching business is easier than ever today because the online experience is much better, faster and technologies like OYOapp “OYOapp.com” provide multiple capabilities “business profile page, appointment booking, online payments, data analytics and more” all in one place. No matter which coaching business you decide you start, we have gathered some strategies and tips for you.

1. Define Your Niche and Target Audience

• Identify the specific niche and segment of the market you want to serve (e.g., recent college graduates, mid-career professionals transitioning to new industries, executives seeking leadership development, professionals in technology). Focusing on a niche helps you speak directly better, cater to specific needs, build credibility and lower your competition. Conduct market research to understand the needs, pain points, and aspirations of your target audience. When choosing a niche for a coaching business, consider your experience that ties/support that niche, identify your client, define and understand your client.
  

2. Quickly Test Your Niche

• Don’t kill time by writing a 20+ page coaching business plan, think about the services you want to deliver, write out the details (service name, duration, etc.) and go to market asap to test out the coaching business. The quickest way to test it out is by leveraging an OYOapp free trial, create your business profile page and start marketing it to see what type of response you get. Map out your financials. Don’t spend unnecessary money with incorporating a huge company, you can leverage a DBA or Sole Prop LLC (easily created from your states website). Think about other expenses you may have and plan for it. There is no need for a website when you have a business profile page. Start marketing your coaching business, learn from the feedback you receive and iterate your (business, marketing, finance, etc.) plan. You can then use what you are learning as the foundational principals in a business model canvas and or a business plan you can gradually piece together. Start your coaching business with a lean approach!
  

3. Develop Your Brand

• Create a compelling coaching business brand for an identity that reflects your values, expertise, and the unique value proposition you offer. Creating a professional website takes time to develop and optimize. Writing blog posts and managing a lot of work to improve your domain authority takes even more time. It is much easier to leverage a technological solution like OYOapp for a business profile page that showcases your biography, experience, services, testimonials/customer feedback, and value you offer. Establish a strong presence on social media platforms relevant to your target audience so people connect to the problem you are solving with your coaching business.
  

4. Craft Your Services

• Define your coaching services you plan to offer, including the duration, format (e.g., one-on-one sessions, group workshops), pricing structure, location (in-person or online via a link or phone number). Tailor your services to address specific challenges, problems and goals within your niche. Consider upselling tactics to diversify and grow your revenue streams.
  

5. Build Credibility and Expertise

• Considering obtaining relevant certifications, credentials, or career development to your coaching business. Remember, it is all about the outcome for your clients and coaches without certifications are great at this as well. Showcase your expertise through images, client feedback and your social media pages. Network to build relationships with strategic partners such as, recruiters and hiring managers to become one of their point of contacts for candidates.
  

6. Develop/Improve Your Marketing Plan

• Implement marketing strategies to attract potential clients to your coaching business. Social media marketing, word of mouth and strategic relationships are key. Offer free resources or lead magnets (e.g., career assessment tools, e-books) to capture leads and build your email list. Seasonal discounts are a great caveat for new and repeat clients. Leverage networking opportunities to connect with potential clients and strategic partners within your industry. If you are able to connect clients to recruiters and hiring managers, your clients will remember you and tell people about your coaching business.
  

7. Start Your Coaching Business with OYOapp

• Starting a coaching business can be an exciting and rewarding journey but having a clear outline is important. Using an all-in-one solution like OYOapp “OYOapp.com” helps with organizing your opportunities. OYOapp is a tool that makes it easy to launch and grow a coaching business where your services can be sold in person or online. You can easily create a business profile page, customize your availability, setup services to sell, streamline appointment booking, automate online payments, view data analytics of your business performance, manage your finances, track customer feedback and more. You can easily manage your business from anywhere, your own way!
• If you are new to the coaching business concept, OYOapp automatically positions you competitively and you gain a lot of advantage because a lot of coaching businesses use multiple apps to manage their business, if any and generate a lot of unnecessary expenses. With OYOapp, you save money and time with a centralized tool while differentiating yourself from competitors with a professional system that clients value because of the ease and convenience.
  

Final thoughts

By following this outline, leveraging OYOapp and staying committed to delivering value to your clients, you can build a successful coaching business that positively impacts the lives and careers of your clients. OYOapp offers an easy way to start your coaching business with a free trial. You have the option of viewing more details about OYOapp at OYOapp.com or immediately creating your business account here.