An action research study of life coaches: The benefits of a specialized life coaching business plan template designed specifically for the life coaching industry

The PDE study resulted in a comprehensive life coaching business plan template designed specifically for the life coaching industry. An action research methodology was utilized to offer a solution to a practical concern for life coaches starting a new business. In an effort to generate more successful life coaches and enhance the profession of coaching, the study investigated two research questions: How is a business plan creation tool designed specifically for the life coaching profession useful for starting a life coaching business? What is the efficacy and effect of a specified life coaching business plan template? Six free workshops were held for life coaches and evaluated by a series of two debriefing questionnaires to contribute new knowledge on the usefulness and benefits associated with using a specialized business plan writing template. The majority of life coaches in the sample revealed they had not written a business plan for their life coaching business. Although coaches create a blueprint life plan with their clients, they are remiss in designing a blueprint to guide their life coaching business. Nearly all the life coaches in the study reported some benefit associated with use of the specialized life coaching business plan template, which included, but was not limited to: a moderate increase in income and clients; meeting business goals with moderate effectiveness; greater focus and clarity of the business; a plan to follow; and enhanced optimism and confidence related to the success of the business. The most common benefit was the template was specific and unique for life coaches and the profession of life coaching. A secondary phenomenon was also observed. Although the life coaches in the study expected positive results from the use of their new business plan, a large percentage did not comply with implementation of their business plan written from the specialized template. In conclusion, recommendations from the results of the study included: The specialized business plan template could be further enhanced by a mechanism to increase implementation of the completed business plan; life coaches who refer to their specialized business plan template at least once a month or more will increase their number of clients and income; and recommendations by the subjects to improve the template may improve its value.