How much does it cost to start a coaching business from scratch?
Coaching is a great way to help people and make money. Knowing how much it will cost to start your coaching business can help you plan ahead and avoid going into debt. Here’s how you can start your coaching business for free:
Coaching is a great way to help people and make money. Knowing how much it will cost to start your coaching business can help you plan ahead and avoid going into debt.
So just how much does it cost to start a coaching business? Knowing how much it will cost to start your coaching business can help you plan ahead and avoid going into debt. The good news is you do not need an office and can begin for free by reaching out to people in person, over the phone, or on social media with a free wifi connection.
Here’s how you can start your coaching business for free
Some people want to start their own coaching business because they have a passion for helping others or they want to make money while doing something they love. Whatever your reason is, there are some things that you need to consider before starting any type of business.
In all types of business, we exist to solve a problem, whether it’s manufacturing plastic buckets, making bread, or helping people improve their daily lives.
It’s easy! How? Because there are no rules or regulations when it comes to running an online business (as long as what you’re selling isn’t illegal). All it takes is some hard work, commitment and determination not just from yourself but also from those around you who can help support what efforts are being made towards achieving success with such ventures in mind instead of being lazy all day long without taking actionable steps forward towards achieving results faster than anyone else could possibly ever achieve if placed under similar circumstances.*
You do not need an office
You can work from anywhere. If you have a home base, that’s great! You can choose to meet with clients there or take them to another location (coffee shop, coworking space, etc.). If you don’t want anyone to know where your office is located, an online platform like Zoom.us will allow you to host meetings online so that no one knows where you are physically located. Or perhaps they are long distance clients, which is very common.
You can usually find me in my local bistro having an expresso and enjoying their free wifi.
You do not need an expensive business coach
If you are new to the world of coaching, you don’t need an expensive business coach. The most important questions you need answering right now are the ones previously listed in this article. And it’s very likely you’ll only need 1 or 2 sessions with a good business coach to help you on your way.
Online courses: There are many excellent online courses for coaches that can teach you everything from how to create a strong brand and how to use social media effectively until how to work with clients over Skype or Google Hangouts. Some examples are [this course](https://www.udemy.com/coaching-for-beginners/) by Brian Tracy or [this one](https://www.udemy.com/online-coaching/) by Amy Porterfield (you might recognize her name). These courses usually cost $10-$15 each but they provide great value as they give step-by-step instructions on how to build an effective business right away—and even include templates! You can also find lots of free resources like [this article](http://www.entrepreneurmagazine.com/article/210046) or [these podcasts](http://www.entrepreneurpodcastsblog[…].
You do not need an expensive marketing course
A lot of people are under the impression that you need to spend thousands of dollars on a marketing course before you can start your coaching business. This is simply not true.
In fact, if I had a dollar for every time someone asked me “How do I market my coaching practice?”, I’d be able to retire right now!
You do not need to be on lots of social media platforms
You do not need to be on lots of social media platforms.
It takes time and energy to be available on multiple platforms and if you can’t find people on Facebook, you will not find people on other social media platforms. The weakness is not within the platform but within the strategy of how you are engaging people.
If you have time and energy for adding new platforms (and there are many), then go ahead! But don’t get overwhelmed by all the noise out there and forget about what makes sense for your business model
You do not need to paid advertising
Paid advertising is not the easiest way to promote your coaching business. It’s perhaps the fastest at burning through your budget though, and there is no way you should ever get into paid advertising if you have not spoken with people face to face. Because how do you know if it is going to work or not?
There are plenty of good reasons why paid advertising would be a good idea for a coach who wants to start a business—it tends to have better results than free methods do. However, there are also some situations where free promotion may be worth the hassle over spending money on ads that aren’t very effective in return for an already low click-through rate (CTR). For example:
You need a plan
If you are serious about starting your own coaching business, then you need to have a plan. You need to know what you will do, who it will be for, how that service will be delivered and when it will take place.
The best way to start is by creating some sort of framework for your business which includes these four areas:
Your concept – What is the idea behind what you do? For example: “I help people with their sales skills so they can sell more products and services”.
Your target audience – Who are the people who will benefit from this concept? For example: “People who want to double their income in 12 months or less”.
The process – How does this concept actually work? For example: “It involves weekly 1-on-1 coaching sessions where we focus on improving specific key areas like communication skills or prospecting techniques”.
The pricing model – How much does each session cost in order for me to make money while still offering value at an affordable price point?
You need a little common sense
Running your own business is a lot like being in charge of a large household. If you have kids, it’s like having hundreds or thousands of them! You need to be able to see the big picture and also have an eye for detail. You must know what is important and what isn’t, what you are good at and what you aren’t good at. And most importantly, you need common sense.
Conclusion
The cost of starting a coaching business is not as complicated as many people make it out to be. You do not need much more than a computer and some common sense to start your own business. The most important thing is having a plan and sticking with it!
