Getting Started: Accounting & Finance

Whether you get excited by looking at a spreadsheet or the mere thought of it sends you screaming out of the room, getting a handle on your finances is essential if you are going to run a professional coaching practice.

The articles and resources below will help you to:

• Budget for your monthly out-goings and overheads
• Develop a realistic cash-flow forecast for your business
• Identify when you're likely to need to watch your spend very carefully
• Plan for promotional activities to bring in extra revenue
• Seek out funding in your area
• Have an honest discussion with your bank manager
• Work out your prices (there is a separate department dedicated to Setting Fees and Packages)

No B.S. Notice: If you're currently broke and expecting to be a millionaire next year, forget it. Those 'over-night success' stories you've heard on the internet or in hyped-up workshops very rarely tell you about the blood, sweat and tears that led to that person's breakthrough or how that person had spent the previous 5 years networking so they could get to rub shoulders with the well-known mentor who gave them a leg-up or mailed their offer to their huge database. In this section you'll get realistic, conservative advice on how to build a coaching practice on solid foundations.