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Business Planning for Coaches
• Understand the benefits of creating an effective business plan
• Become familiar with an efficient tool for creating a business plan, including: assessing current state, creating vision and mission statements, defining measurable business objectives, creating strategies and action plans to deliver the envisioned results
• Apply the approach to creating a first draft mission statement for the participants’ own organization
Business planning…
• What’s in it for me?
• How do I do it?
• Let’s get started…
Business planning…
Planning is an unnatural process; it is much more fun to do something. The nicest thing about not planning is that failure comes as a complete surprise, rather than being preceded by a period of worry and depression.
Sir John Harvey-Jones
What gets in the way of planning?
Ways to Use a Business Plan
Annual Planning
• Organization• Project, Plan• Support functions• Leadership development• Budgeting
External Presentations
• External presentations• Volunteer recruitment• Alliance development• Strategic hires• Executive summary
Research and Development
• Conceptual draft for new programs• Framework for expansion• Proforma for M&A• “What-if” for reorganizing
Process, Performance Management
• Clear framework for measurement• Benchmark to measure progress against
priorities• Improve cross-functional communication• Create, reinforce culture of accountability
Alternative approaches
174 million!!!!
One Page Business Plan
The coaching exchange
Indentify
Discover
StrategizeClear the Way
Recap
Hendren, 2010
One Page Business Planning ProcessAssess
Vision
Mission
Objectives
Strategies
Action Plans
Your business as a series of threads…
Planning is a team sport…
Assessment of key functions
1 2 3 4 5 6 7 8 9 10FTI ½ People Process Time $$ External
New Client Acquisition Service Delivery Professional Development
Marketing Public speaking Administrative Functions
Sales Productization of IP Profitability, Cash Flow
Strategic Alliances
Level of success: 1= disaster 10 = brilliantly successful
Assess
Assessment
Assessment of key functions
1 2 3 4 5 6 7 8 9 10FTI ½ People Process Time $$ External
New Client Acquisition Service Delivery Professional Development
Marketing Public speaking Administrative Functions
Sales Productization of IP Profitability, Cash Flow
Strategic Alliances
Level of success: 1= disaster 10 = brilliantly successful
Assess
Vision Mission
Vision
• What type of company is this?
• What markets does it serve?
• What is the geographic scope?
• Who are the target customers?
• What are the key products and services?
• How big will the company be?
• What will revenues be?• How many employees will
there be?
What are you building?
Vision
Creating your vision statement…
Within the next ____ years grow __(company)__
Into a $ ( est sales )
(local/regional/national/global ) (type of business)
company providing
_________(2 or 3 of your key products) _____ to
______(2-3 of your key client/customer types) __.
North Texas Coaches 2013
Within the next three years, grow North Texas Coaches into a successfully run professional association with an annual budget of $80,000 that provides a rich offering of resources to develop and credential internal and external coaches serving organizations and individuals.
Vision
Mission
• Why does this business exist?
• What is our unique selling proposition?
• What are we committed to providing to our clients?
• What promise are we making to our clients?
• What wants, needs, desires, pain or problems do our products/services solve?
Why does this business exist?
Mission
Creating your mission statement…
We help ____(recipient of your services)_______
_______(goal or benefit of your services) _______
North Texas Coaches 2013
Grow and develop a competent coaching community that drives results for individual coaches and those they serve
Objectives
• Include a numerical value in each objective
• Can be graphed• Have clear timelines and
personal ownership
“Until you can measure something and express it in numbers, you have only the beginning of understanding.”
Lord Kelvin
What will be measured?
Objectives
Objectives
• Provide a quantitative pulse of the business
• Focus resources towards specific results
• To find success in a measurable manner
• Give people/organizations specific targets
• Establish a framework for accountability and incentives pay
• Minimize subjectivity and emotionalism
• Measure the end results of work effort
Well conceived Objectives:
North Texas Coaches 2013
• Increase total membership to 188• Increase average meeting attendance to 58• Increase the number of credentialed members by 10%• Increase corporate/internal coaches to 20% of
membership• Implement 1 major outreach event with Alliance
Partner• Submit quarterly human interest stories to PR wire• Attain an average program value survey of 4.5 out of 5
Objectives
Strategies
• Set the direction, philosophy, values
• Define the business model
• Establish guidelines for evaluating important decisions
• Set limits on what a company will do or will not do
How will this business be built?
Strategies are broad statements, covering multiple years that:
What will move the objectives?
Strategies
Strategy
Strengths Weaknesses
Opportunities Threats
Internal
External
Competitive Strategy
Porter, 1980
North Texas Coaches 2013
• Strengthen the chapter membership experience to best-in-class levels• Base programming on a comprehensive survey of member needs and
preferences• Broaden the content, venue, and timing of chapter programming to
meet member needs• Strike an effective balance of program objectives between core
competencies and resource development• Develop a powerful communications toolkit to enable telling the story of
coaching and our chapter program• Make Coaching Week a showcase of coaching and its power• Develop and strengthen our alliances with the North Texas HR
community• Create a best-in-class Prism program to increase awareness of the value
of coaching• Deepen our alignment with ICF global and regional initiatives
Strategy
Action Plans
• Major business – building projects
• Significant infrastructure projects
• Programs or projects that bend the curves and or trend lines
Defining the work to be done
Work may be defined in three ways:
Description of Work + Owner + Completion Date
Action Plans
Planning Wheel
Q1Q4
Q3 Q2
North Texas Coaches 2013
• By Feb, survey members who attended ≤ 2 meetings/events in CY 2012
• By Jan, survey members on types of programs, workshops they would like to experience.
• By Feb, launch the redesigned website with easier navigation and updated visual appeal while offering analytic insights for future changes.
• By Mar, publish one coaching related press release, photograph on PR Wire
• By Mar, form nucleus of aligned organizations seeking opportunities to collaborate
• By Mar, obtain commitments for 4 PRISM nominees and 3 medal (gold/silver/bronze) sponsors
• By Mar, drive the creation of purpose, goals and actions for the ICF Southeast Region
Action Plans
No plan survives…
“No plan survives first contact with the enemy”
Baron von Moltke
Prussian Field Marshall
Review and Cadence
Set a review cadence that suits your business that is appropriate to how fast things are changing…
Actual Results to Plan
“Plans are useless…”
“In preparing for battle, I have always found that plans are useless but planning is indispensable.”
Dwight Eisenhower
Questions?
Jim CooperPrincipal, Ascendent Leadership
972-578-7035
Business Planning for Coaches
