Coaching Company will provide top-quality professional development and coaching services. The principal officer of Coaching Company believes that most small businesses and entrepreneurs suffer two major problems. They lack training or development resources and the depth of knowledge needed to focus on their businesses from a true "ownership" perspective. Both lead to lowered expectations, lack of business and personal growth and frequent owner burnout. Coaching Company believes that it can improve upon and exploit these weaknesses to gain local market share.
The objectives for Coaching Company over the next three years are:
- Achieve sales revenues of approximately $81,000 by end of year one (2005).
- Achieve sales revenues of approximately $150,000 by year three (2007).
- Achieve a client mix of 60% small business/30% entrepreneurial/10% individual per year.
- Move into small office space by the end of the first year (2005).
The company will provide its professional development services in the most effective manner and with an ongoing comprehensive quality-control program to provide 100% client satisfaction. The company's principal officer sees each contract as an agreement not between a business and its clients, but between partners who wish to create a close and mutually-beneficial long-term relationship. This will help to provide greater long-term profits through referrals and repeat business.
Coaching Company will institute the following key procedures to reach its goals:
- The creation of a unique, upscale, innovative environment that will differentiate Coaching Company from other coaching or professional development businesses.
- Educating the business community on what business and strategic coaching has to offer.
- The formation of a learning environment that will bring people with diverse interests and backgrounds together in a common forum to overcome challenges both professionally and personally.
- Affordable access to the resources of business coaching and other consulting services.
Coaching Company is a start-up limited liability company (LLC) consisting of one principal officer with 15 years of industry experience. Frank Smith (principal) will be investing significant amounts of his own capital into the company to cover start-up costs and future growth. Coaching Company will partner with the national franchise, Coaching Company®, to provide services. Coaching Company will be limited in a home office in Anytown, MI. Workshop facilities will be contracted from various professional venues.
The company plans to use its existing contacts and customer base to generate both short and long-term coaching contracts. Its long-term profitability will rely on professional contracts obtained through strategic alliances, a comprehensive marketing program and a successful referral program.
Initially, the company will focus on professional development, strategic workshops, one-on-one coaching and special project relationships. Beginning in year two (2006), Coaching Company will provide a separate and comprehensive career counseling service which will include resumé assistance, interviewing skills, job-seeking strategies and networking opportunities. The company has rigorously examined its financial projections and concluded that they are both conservative in profits and generous in expenditures. This was done deliberately to provide for unforeseeable events. The company's principal believes that cash flow projections are realistic.
1.1 Objectives
Coaching Company's objectives for the first three years of operation include:
- The creation of a unique, upscale, innovative environment that will differentiate Coaching Company from other coaching or professional development businesses.
- Educating the business community on what business and strategic coaching has to offer.
- The formation of a learning environment that will bring people with diverse interests and backgrounds together in a common forum to overcome challenges, both professionally and personally.
- Affordable access to the resources of business coaching and other development services.
The financial objectives for Coaching Company over the next three years are to:
- Achieve sales revenues of approximately $81,000 by end of year one (2005).
- Achieve sales revenues of approximately $150,000 by year three (2007).
- Achieve a client mix of 60% small business/30% entrepreneurial/10% individual per year.
- Move into small office space by end of first year (2005).
- Hire one salesperson / coach by end of second year (2006).
1.2 Mission
Coaching Company offers small business owners, managers and entrepreneurs a reliable, high-quality resource for business coaching, and professional and management development on both a local and national scale. Its mission is to help clients develop the strategy, motivation and accountability required to succeed in their business and personal lives. The company sees each contract as an agreement not between a business and its customers, but between partners who wish to create a close and mutually beneficial long-term relationship. This will help to provide greater long-term profits through referrals and repeat business. Coaching Company must also be able to maintain financial balance, charging a high value for its services, and delivering an even higher value to its clients.
1.3 Keys to Success
- Excellence in fulfilling the promise--completely confidential, reliable, trustworthy expertise and information
- Developing visibility to generate new business leads
- Leveraging from a single pool of expertise into multiple revenue generation opportunities: retainer coaching, project consulting, workshop facilitation and individual coaching
- Consistently developing productive and thought-provoking learning experiences to maintain growth and success with each client
- Our use of state-of-the-art technology
- Easy access to services
- Establishing a seasoned advisory team
