HOW TO START AN ONLINE COACHING BUSINESS

By / / So, you’ve got the drive as an entrepreneur and a grand vision to start an online coaching business. Becoming an entrepreneur always sounds great at first, but it’s not as simple as coming up with an idea and slapping a name on it. If you want to start an online coaching business, it could be tough to get up off the ground initially. However, there are some avenues available to you that can accelerate the process. LLC OR DBA TO START AN ONLINE COACHING BUSINESS More often than not, to start an online coaching business you will need to apply for a DBA or Doing Business As license. These are essentially a less complicated, and less costly version of an LLC or Limited Liability Company. A DBA allows you to operate as a business legally, you won’t have to file extra tax forms based because you are the business. In the short-term, this can save you quite a bit of money; as for the long game, you’ll eventually want to get an LLC as your business begins to thrive and profits increase. An LLC separates you from the company, creating an entirely new legal entity. It protects your assets, in this case, your business and the finances you receive from it. If you aren’t quite ready for the LLC yet, do the minimum of applying for your DBA. WHILE YOU’RE AT IT, GET THOSE BOOKS IN ORDER! As you’re funneling your business through social media, apps, and pay per click ads, it’s essential to keep track of your transactions when you start an online coaching business. Use Google Sheets or purchase a more advanced program to help you keep your tax information and your income in check. If you haven’t yet, you need to set up a business account and use it only for business transactions! For those entrepreneurs who are still working part-time, be sure that any direct deposit from a paycheck is placed in a separate account. Consider hiring a CPA to file and adjust any documents that you’re unsure of. It may feel like you’re spending a bunch of money initially, but not staying on top of financial documentation could cost you everything you worked so hard to build. Look at it as an investment! YOUR PLATFORM TO START AN ONLINE COACHING BUSINESS Even if you’re relatively new to all the technological jargon, and the details that go into marketing for your coaching business, you should already be using social media to advertise and attract potential clients. Establish yourself further by coming up with a website of your own by purchasing a domain name. This doesn’t necessarily mean that you need to go out and spend a bunch of money on a technology degree, you can easily find basic resources all around you. Web hosting sites like Shopify and WordPress give people the option of choosing from several themes and templates, this way, you aren’t building one from scratch. However, you can always hire a contractor to go over the specifics of forming an entirely new site with custom features and plugins. You may not be able to go with this option initially, but it would be beneficial to update your site accordingly later on. You’ll be able to choose something a little more aesthetically appealing, and make changes based on what attracts health coaches. FACEBOOK ISN’T JUST FOR FRIENDS As long as you haven’t been living under a rock for the past 15 years, you know what Facebook is and what it’s used for. You scroll through the feed, liking, and sharing the pages that you find entertaining, enriching, or relatable. Now, imagine if you had a business page that could recreate that feeling for other users. Find ways to be humorous or tie “hot topics” into your posts. For example, tap into trending topics and hashtag your post to drive more traffic. Celebrity gossip, politics, and pretty much anything controversial will quickly get you more comments and post reactions. Isn’t exposure what you need? You aren’t trying to sway readers one way or the other, you just want to take part in the conversation. PAY PER CLICK ADS While they may not be as fun or creative as setting up an Instagram post, or creating blog content for Facebook, pay per click ads do have their benefits. Move forward with this step once your business is a bit more established. PPC places advertisements, in your case coaching or consulting, strategically along with the extra space on websites like Facebook. Just like you would for an Instagram influencer, you will pay a small fee for your advertisements to be displayed on other people’s sites. It may not provide you with as large an income as content directly from your website, or social media page does, but can still turn a small profit will minimal effort.