The Basics of Starting a Coaching Business
Carrie Palamarchuck, RDN, CDCES
Starting your own business can feel overwhelming, but it's really about breaking down the steps. Learn more!
Learn how to simplify the steps for starting your own coaching practice. Whether you want to define your services or just have the freedom to work your own hours, it's important to get the initial steps of owning your own business right!
1. The basics of running your own business.
2. De-mystifying the first steps.
3. Defining your target markets and services.
4. Creating a high quality service.
5. Managing time and resources.
6. Save time and money!
General Notes from the presentation:
Having your own business is a challenge and presents lots of decisions and motivation. It's important to understand the "why"! Structure is also important.
As a health professional, it's important to understand if you will be working as a sole proprietor or in a business entity. Will you be solo, or do you want to have partners or employees. All of these considerations determine the business structure. Primary options are a sole proprietor or LLC. There are pros and cons to each, so spend a little reviewing the slide.
Once entity decisions are made and the logistics of setting up your practice have been completed, it's on to defining your market. It's important to recognize it's difficult to be all things to all people. Play to your natural strengths and interests, and then define the market you wish to go after. When you are doing what you love, it's easier to brand yourself in the marketplace as the 'go to' person others with those challenges.
You will want to determine the intensity of your work. Do you wish to work full time, or is this added income as opportunities arise. Will you do in-person, telehealth or both? Are there some services you believe you have time to offer and some that you do not? As you begin developing your market efforts, refine your offering. Will you be self pay only, or will you take insurance? There are additional credentialing steps necessary and more robust systems to take on insurance. The services you decide to offer need to be well articulated and shared with the marketplace.
As you target your approach, you will want to identify basic elements of quality. Where will you office to of? How easy is it to find you and schedule? Do you have a service. Is your voice recording clear about when you can be reached? How will you follow up with those that reach out...and more!
Along with the basics, there are other elements of quality. Record keeping is essential to managing quality and risk. You will find it helpful to look at an electronic health record -- there are a number of simple ones offered. SoulFIRE Health has a couple of trusted parties on the Partners page. You will want to have a way of tracking results. And, of course, how will you handle complaints? How will you identify the core issue -- is the way you addressing clients, or is it an issue of fitness with your client?
Review the slides for more information!
A few quick tips!
1. Remember that setting boundaries is important. Those that care for others, must care for themselves, too!
2. Develop tough skin.
3. Provide options when a relationship is not working out.
Consider key opportunities with the Partners of SoulFIRE Health.
- NCES has great learning tools and physical handouts that pair well with SoulFIRE Health digital content. You can become an Affiliate and save money for you and your clients!
- Take a look at the Library and Collections on the SoulFIRE Health platform. Did you know you can review the Collections Program and learn how to use Professional Toolkits and Consumer Journeys at SoulFIRE?
Click here! https://www.soulfirehealth.app/programs
- Consider Collections for target clients. You can start and stop Subscriptions as clients come and go.
- Supplements are a part of nutrition and health counseling. Thorne is a trusted Partner on the SoulFIRE Health platform. Consider setting up a Professional Account with Thorne and pass on savings to your clients.
Ask us questions, as you begin exploring!