Professional Documents
Culture Documents
BUSINESS PLAN
Redefining Life Coaching & Mentor Services
PRESENTED TO:
DATE PREPARED
12/21/2020
CONTACT
Crystal Scarborough
rebuildyourtomorrow@gmail.com
815-601-4902
crystalscarborough.com
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TABLE OF CONTENTS
1. EXECUTIVE SUMMARY.........................................................................................................................3
2. COMPANY OVERVIEW...........................................................................................................................7
2.1 COMPANY BACKGROUND...........................................................................................................7
2.2 MANAGEMENT TEAM...................................................................................................................7
3. PRODUCTS & SERVICES........................................................................................................................7
4. MARKET ANALYSIS..............................................................................................................................10
4.1 MARKET & INDUSTRY OVERVIEW..........................................................................................10
4.2 TARGET MARKET.........................................................................................................................10
4.3 COMPETITION...............................................................................................................................11
5. MARKETING PLAN................................................................................................................................11
5.1 MARKETING STRATEGY.............................................................................................................11
5.2 POSITIONING.................................................................................................................................12
5.3 PROMOTION...................................................................................................................................12
5.4 DISTRIBUTION...............................................................................................................................13
6. IMPLEMENTATION PLAN....................................................................................................................13
6.1 PERSONNEL PLAN........................................................................................................................13
6.2 SWOT ANALYSIS..........................................................................................................................14
6.3 TIMELINE OF MILESTONES........................................................................................................14
7. FINANCIAL PLAN & STATEMENTS...................................................................................................15
7.1 KEY ASSUMPTIONS......................................................................................................................15
7.2 SALES FORECAST.........................................................................................................................15
7.3 BREAK-EVEN ANALYSIS............................................................................................................16
7.4 PROJECTED INCOME STATEMENT...........................................................................................16
7.5 PROJECTED CASH FLOW STATEMENT....................................................................................17
7.6 PROJECTED BALANCE SHEET...................................................................................................17
8. APPENDIX...............................................................................................................................................19
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1. EXECUTIVE SUMMARY
The name of our company is Redefining Life Coaching & Mentoring Services, and it is organized as a corporation.
Redefining Life Coaching & Mentoring Services is based in Texas and has been in business since 11/25/2020. The
business is founded by Crystal Scarborough who is an experienced Spiritual Leader and Personal Improvement Life
Coach.
The purpose of this business plan is to provide a blueprint in order to guide the mission to ensure a successful set-up and
strategic positioning of the business.
The purpose of the nonprofit is to support, educate, and to help meet a financial short-term concern of young widows and
widowers and their families in their time of deepest need.
Our Vision: Redefining Life Coaching & Mentoring Services will seek out & create opportunities for young widows &
widowers to identify, use personal talents, and abilities to help themselves and their families who are in financial, social
and emotional need by providing a safe place to support, love, educate, and train.
Our Mission: to inspire and empower young widows and widowers with children (who find themselves in a shattering
situation of having lost a spouse or parent,) to lean into life, build confidence, and re-engage in life on purpose.
The founder for Redefining Life & Mentoring Services, Crystal Scarborough will be Managing Director and Master Life
Coach for program. The experience and skills she will bring to the table include Certified Life and Master Coach for over
seven in the coaching industry. Crystal Scarborough during her career, worked has a program director, business owner,
and case manager as well in the United States over the course of twenty years. She holds a master’s degree in psychology
leadership Coaching which provides a good understanding of how human beings behave and their behavior can be
improved to be able to live the life that they truly want.
Utilizing market research, as well as the combined experience of the management, we’ve decided to launch Redefining
Life Coaching & Mentoring Services. What makes Redefining Life Coaching & Mentoring Services different than what’s
currently on the market is our focus will be specifically on coaching widows and widower who are ready to rebuild life,
to take charge, and create results on purpose using the word of God and Neuro-Linguistic Programming (NLP)
techniques. As spiritual coaches we will help customers understand what their core desires are and what their true
purpose is. We believe we can maintain a competitive edge because we offer services specifically to widows and
widowers with pray and meditation. In addition, with every session, the customer will have the chance to connect to their
higher purpose and explores the deeper connections between themselves and God or the Universe through prayer and
meditation so they can lead the life they were meant to live. During a google search could not locate another life
coaching program that offered a similar coaching program. There were programs for widows but did not include
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widowers.
Our customers reside, shop, and work in United States, so our business is located online and can connect to anyone in the
United States with internet connection. We expect the age group of young widows and widowers with families to
increase due the current covid-19 pandemic of 2020. The current census which shows the average age of widows is 55
years old, however many are much younger in 2020 due to the pandemic. According goggle search completed on
12/31/20, The estimated number of widowed persons worldwide in 2020 is approximately 350 million, with the large
majority, approximately 80 percent, being widowed women. While globally about one out of every 15 people in the
marital ages are widowed, country rates vary enormously across a broad range . Based on these statistics widows will
make up 35% of our sales. The other 65% will come from online courses and donations.
We will use a combination of marketing strategies to promote the life coaching & mentoring services, including
collaboration, speaking, workshops, networking, social media, website, and email marketing. We also plan to partner
with online and local churches in order to help with their women & men ministries.
We expect that we will reach a projected amount of $30,000 in annual sales by the end of the first 12 months based on
one-on-one and group coaching, and online courses. By the end of 2022, we plan to reach a projected amount of $42,000
in sales. Price is set $250 for 8 sessions with 120 customers per month for the first 12 months. The 2 nd year to $42,000
with an increase monthly to $350 for 8 sessions.
Pricing Strategy:
Non-Operating Income
Interest Income -
Rental Income -
Gifts Received -
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Donations -
Other -
Total Non-Operating
-
Income - -
EXPENSES
Operating Expenses
Accounting and Legal 3,000
3,000
Advertising 4,000
4,000
Depreciation -
Dues and Subscriptions 200
200
Insurance 1,000
1,000
Interest Expense -
Maintenance and Repairs 500
500
Office Supplies 2,000
2,000
Payroll Expenses 2,000
2,000
Postage 250
250
Rent 3,600
3,600
Research and
500
Development 500
Salaries and Wages 78,100
78,100
Taxes and Licenses 2,000
2,000
Telephone 500
500
Travel 500
500
Utilities 1,100
1,100
Web Hosting and
400
Domains 400
Other -
Total Operating
99,650
Expenses 99,650 -
Non-Recurring
Expenses
Furniture, Equipment
100
and Software 100
Gifts Given 250
250
Other -
Total Non-Recurring
350
Expenses 350 -
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NET INCOME - -
-
2. COMPANY OVERVIEW
Redefining Life Coaching & Mentoring Services was established because of a desire to assist widows and widowers and
their young families during covid-19 pandemic.
Our ultimate goal is to educate widows and widower with young children through self-life coaching and budgeting classes
and to financially assist these families as they deal with the loss of their loved ones, and struggle to move forward, and we
will know we’ve accomplished that goal when the families short term goal is meet.
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3. PRODUCTS & SERVICES
Our life coaching & mentoring services offerings personal improvement and family relationship includes one-on-one
coaching, group coaching, online self-pace life coaching training, budgeting training, and provide funds to help cover the
rent or a house payment, utility bills, a child’s activity fees, lessons, school clothes, a special family outing or gifts for the
children. Materials needed for training sessions, and financial assistances will be sourced from donations and grants. We
plan to leverage the relationships we’ve made with Abundance Financial for budgeting training to help keep our costs for
materials at no charge. We also plan to establish positive working relationships with career search assistance program,
other online ministries and to help organization with reaching the widows and Widowers, and sponsor events to bring
awareness to our mission. These events are great ways to meet others in similar situations and support our neighbors.
Events include gala events and benefit concerts.
Alternatives that are currently on the market include podcast, charge for services, not a nonprofit, and has an ICF coaching
accreditation(a little over one in two coach practitioners said their clients are mostly managers (27%) or executives (25%);
the combined total of 52% is identical to the position in 2015 per the coach federation.org 2020). What makes our coaching
& mentoring services better than the alternatives is our coaching & mentoring services will operate as a religious nonprofit
organization and we will focus on widows and widowers between ages 33-38 years of age with young families (The typical
coaching client is between 35 and 44 years old (37%). A little under one in three clients (30%) are in the 45–54 age range.
Around one in four (24%) are under 35 years old, per ICF executive report 2020. Also, the program is specific for those who
are ready to rebuild their life and create results on purpose using the word of God and Neuro-Linguistic Programming (NLP)
techniques. We are spiritual leaders and as spiritual coaches we will help customers no matter what their spiritual
background and get clear on what their core desires are and what their true purpose is, along with financial assistance per
need and available funding. Some of the unique and desirable features of our coaching & mentoring services include:
One-to-one Coaching,
Group Coaching
Master Classes
Online Courses
Conferences and Workshops:
Financial Assistance
Career Assistance
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Here are some examples of our offerings:
Contact the widowed at least one a month. a. Phone call. b. email, letter, or card
Pray for and with widows and widowers on a regular basis.
Facilitate mini master classes monthly through group webinars and they can ask questions about what was learned in the
group.
Life coaching each month- individual coaching on any issue that they struggle with.
Support group discussion with focus on specific Mindset topics and personal study and reflection.
Clear insight on your journey with heart-to-mind journal writing on shared experience of widowhood.
Connection and community with others in our support group.
Virtual guest speakers monthly-on topic budgeting and career searching activities.
VENDOR 1 VENDOR 2
SUPPLIES SUPPLIES
PROVIDED TO Career Coaching PROVIDED TO Budgeting Training
BUSINESS BUSINESS
PAYMENT PAYMENT
TERMS
Volunteer TERMS
Volunteer
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4. MARKET ANALYSIS
Redefining Life Coaching & Mentoring Services have been prevalent in the life coaching since 2014 & mentoring industry
since 2020. The size of the current market is a 2-billion-dollar industry to life coaching, and it is projected to grow by 5 %
according google-Forbes research over the next year. Society places a huge value on self-improvement, and because of this,
the demand for life coaches is likely to grow. In fact, the National Post states that coaching is the second fasted growing
field (google search Forbes 2020).
Currently, there are hundreds of direct competitors in and around the online coaching business that is specific to widows but
not much is mentioned about widowers in the United States area. We believe Redefining Life Coaching & Mentoring
Services will be successful in this space because of the inclusion of the support for widowers and the coaching industries
projected 5% growth. We predict that we can gain 2% of the market share by the end of 2021and 3% of the market share
within the next 2 years.
The trends within this industry show that life coaching is strong and there is still a demand in the area of personal
development.
SEGMENT 1 SEGMENT 2
INCOME LEVEL $35,000 and $50,000 INCOME LEVEL $ 35, 000 and $50,000
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4.3 COMPETITION
Our direct competitor is accredited and certified coaching programs and Therapist at the local state level in online
community.
They sell coaching services, therapy, and other products that will provide widows and widowers with tools & techniques
that will give them results that they desire over time at a rate of insurance coverage or the pricing could $60 to $120 per
hour according to google research from International Coaching Federation. However, without insurance coverage the cost
of their program could range from $60 up to $10,000 depending on the individual cost is for their expertise.
In ___(Year)__, ___(Competitor’s Name)___’s profit margin was ______________, compared to the previous year, and has
________ by _____% since the company began in ___(Year)___. They currently hold a _____% market share.
Customers buy from these businesses because of the certification status that they provide through their accredited program.
We are confident that our company can better serve our target market because our manger is a certified master life coach
and who has not only experienced widowhood and we uses a proven confidence coaching program developed by Louise
Anne Maurice of Get Results Coach Academy who is accredited. Also, our pricing will be minimal to no cost compared to
the competition for our widows and widower’s enrollment in our program.
5. MARKETING PLAN
In order to grow our initial customer base, our marketing strategy is to value our customers. We plan to utilize a virtual
newsletter to inform of future events and ask them to complete a short survey on the website in order to measure customer
satisfaction. Additionally, most of our new customers will find us by word of mouth, and through collaborations with
vendors and networking.
Redefining Life Coaching & Mentoring Services also plans to reach new and existing customers by prompting content on
social media platforms including Facebook, Instagram, Clubhouse, Messenger, Linked and paid online advertising.
Our pricing strategy is one-on-one Coaching – $125/hr for any personalized coaching for non-workshop clients. $100/hr for
workshop clients. On Demand Coaching – $250 per month with minimum purchase of 3 months, one-hour sessions per week
for 8 sessions.
$125 per hour for coaching and mentoring services unless the customer is a widow or widower within our program which
there will be scholarship based. The life coaching training certification program is priced at $265 for the 20-hour course.
5.2 POSITIONING
Redefining Life Coaching & Mentoring Services plans to position itself as a Women Empowerment brand. We plan to
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achieve this by helping women and men remove their inner critical voice and build confidence so they can align with their
true purpose and rebuild their tomorrow. When target customers think of our product, we want them to think that we have a
solution to meet families’ emotional and financial short-term needs and build cultivating experiences. These grants will
allow families to spend more energy on healing, on being a parent, on begin a child, and being a family. The support means
something different to every family, but what it brings is hope and healing.
5.3 PROMOTION
We plan to leverage social media in order to promote and grow our business. We also plan to utilize the following types of
communication to reach our audience:
Personal Selling Gala Events, Webinars, healing hurdle release box product: include balloons with string, marker, message
card of healing, journal.
Marketing Communication Activities Events, webinars, social media, radio, television, digital content, and messaging
tools
Public Relations Releasing newsletter to media
5.4 DISTRIBUTION
We plan to get the mini courses, trainings, events, and coaching program to our customers by using the following
distribution channels: social media, radio, offline networking, get interviewed, guest post on social media, text message, and
webinar.
These distribution methods make the most sense for our business because it is the quickest way to get in front of our target
audience.
To support our distribution efforts, we will need to form business partnerships with other nonprofits that does not have our
offerings and therapist/life coaches. We plan to do so by connecting and building collaborations.
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6. IMPLEMENTATION PLAN
Currently, the personnel plan calls for a minimum of one in order to help us achieve our goals.
We assume that in the first year, we will only have one employee to execute and manage operations. As demand increases,
we will purchase additional personnel and hire a virtual assistant and one coaching assistant as a 1099 employee at a rate of
$18 per hour.
Virtual Coach
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We plan to capitalize on networking with another startup by inviting them to collaborate with us. We will address our
current weaknesses by staying abreast of the industry. We will use our opportunities to our advantage by staying connected
to our previous clients and building new network collaborations. We plan to mitigate the risk of threats by providing the
best customer service and provide the results to the customers problems in the shortest time possible.
Milestone 2 Milestone 5
01/18 02/05
Revenues will increase at a rate of 2% during the first quarter, with an increase in sales of 3% during third quarter, due to
google search Forbes 2020).
We are deliberately calculating lower sales projections in order to illustrate a worst-case scenario.
The expected average monthly sales total for the first 1 years will be $12,500. (50 customers)
In our sales forecast, we expect the highest performance during first quarter, due to new year resolutions toward personal
development. We anticipate an average sale of $250 per customer.
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Below, insert a chart and/or graph depicting your sales forecasts:
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Revenue: donation-individual $
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7.6 PROJECTED BALANCE SHEET
Insert your projected balance sheet below:
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8. APPENDIX
Attached below, please see the documents that support the information we’ve provided in this plan. These documents
include ______________, ______________, and ______________.
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