What if I were to tell you that starting a business requires more than just money? Since the business world is so intertwined with finances, sometimes all the other aspects of what goes into it get lost. But the truth is, sometimes money is actually the least important thing on the list of things you need starting out!

And whereas everyone talks about the funds you need to get started with a coaching business, nobody talks about the other necessities. So today’s post is going to be all about the four things, aside from money, that I think everyone needs when they’re launching their coaching business.

Let’s jump right in with number one…

1 – Confidence and Clarity _ A Roadmap

Ultimately, there are two things that will guide you through starting your business on an emotional level. And those things are confidence and clarity. They’re two different concepts but they’re deeply connected, at least in my opinion. So allow me to explain.

Confidence is something that every business owner has to have because it gives you the hope, motivation, and backbone to do what needs to be done in order to hold strong to your plan for your business. But confidence is also one of the toughest things to obtain when you’re just starting out with something. That’s where clarity comes in…

Clarity provides a sense of calm in the storm, and can help improve confidence by always keeping a clear picture in your head of where you’re going and what to do to get there. And alternatively, the more confident you are in your purpose, the more clarity you receive. So these two concepts really work together to provide almost a mental roadmap of your future in business.

2 – A Business Design _ Business Non-Negotiables

After your coaching business gets in full swing, it’s highly likely that you’ll need to make small adjustments and tweaks to help it grow. That’s perfectly normal and expected! But at the end of the day, you still need a clear picture of what your business is and what you always want it to be.

That’s why having a “business design” when you launch is so important, because it gives you a blueprint for the future. Almost like a set of guidelines to keep you on track. And that blueprint will look different for everyone.

For instance, a big part of having a business design is to have some non-negotiable features of your business. So some examples could be that…

• You believe you can spread your message further through online mediums, so you’ll never do an in-person class.
• You want to be accessible for everyone, so you have a cap in place for what you’re willing to charge for your services.
• You want to stay true to your message, so you won’t be influenced by trends in the industry.
• Etc

But no matter what form your business design takes, you did need a strong vision in order to proceed in launching your coaching business.

3 – Strategy and A Plan _ Intention With Your Value

Part of the reason why you need that strong vision we just talked about is so that you can form a strategy early on in the process. It isn’t enough to know where you want your business to go, you need a plan on how you’re going to get it there.

So take your value, and make sure there’s an intention behind it. You want to create courses so that you can reach more people? Well you need to a plan of how to create, release, and perfect your course. You want to be an affordable option for people. Then you need to find ways to make that possible while still making enough money for yourself.

These intentions and strategies will help you gain confidence, maintain your clarity, and launch your business without compromising your business non-negotiables.

4 – A Mentor or A Guide

The fourth thing you need is something more external than the other three things have been, and it is a mentor or guide of some sort. The value of a person who’s there to give you advice and encouragement can’t be overstated, and a wise person behind you could very well be a big reason as to why you succeed. Whereas someone trying to launch their business without any outside input will have a much harder time.

Mentors provide value in many different ways, especially if you have a good one (which we’ll get into in a moment). Firstly, they can give you valuable advice and words of wisdom that may help you when you’re strategizing for your business.

Secondly, having someone in your corner can be a major source of reassurance. It gives you more confidence in yourself, but will also comfort you because you know you have someone at your disposal that will help you overcome hurdles and tell if you’re doing something wrong.

But you can only unlock those benefits if you choose the right mentor. Ideally it needs to be someone that you respect, and that respects you back. It’s also best if your mentor has experience and success doing what it is that you’re about to do. For example, someone who’s worked in the coaching industry before. And finally, it must be someone that you trust!

Conclusion

If you have these four things then you’ll instantly raise your chances for launching a successful coaching business, and the best part is, you can have all four of these things for free! Most of them just have to do with you, and you can obtain them if you have the right mentality and hustle mindset.

And I hope that serves as encouragement for those of you that are worried you’ll fail in your new business, remember that you can do whatever you set your mind to!