Business Planning Coaching Service

As part of offering LIFTOFF! as a “Do-It-Yourself” option we also offer a coaching or consulting service (depending on the client’s needs). We prefer the coaching option to assist the client in working through their own plans, because, ultimately, they will have to work with what they create. Having a hand in that creation ensured that the client is fully engaged and aware of all aspects of their planning, a prerequisite for being in complete control of starting that business. It is important to recognize that a “DIY” option mainly appeals to an entrepreneur already experienced in the details of business planning (or someone who has completed a business education program).To learn more about scheduling coaching sessions, we use a simple order form that you can use to select what services/sessions you are interested in (Order Form link above).

For people aspiring to transform their business experience into a coaching service we have a training program to help them get started. A coach can be involved for a short-term initial consultation and to prepare a LIFTOFF! plan, or they can be a trusted resource supporting the entrepreneur over the long haul. We established the following charges for our services (but other coaches or consultants may decide on different fees):

Coaching does not have to be in person, there are more economical ways to serve clients:

Group Sessions:	= typically 5-10 participants working at the same stage of planning engage in discussion, ask questions, and benefit from the group’s questions. We establish regular (rotating) schedules with 1.5-hour and 3-hour sessions, at times most conducive to accommodate the clients in North America. Clients can select which sessions are of interest to them, and they will be invoiced in advance. Reminders are emailed at least one day before each session with the access link information they need to be able to participate.
Private Sessions:	= focused on one client at a time, we can accommodate clients in half-day or full-day sessions using ZOOM or SKYPE calls that can be arranged (and paid for) in advance. The advantage is that we can focus on client-specific needs, and calls can be spaced to give them enough time to work independently on different parts of the plan between calls. Full-day sessions are ideal to prepare one stage of the plan (business, marketing, or project) and for one or two calls to review progress and to review finished results. We can share private sessions with others in a management team that are involved in the planning process.
On-site Sessions:	= for clients in our local area (GTA-West, Ontario) we provide private sessions based on a flat rate in-person. This provides flexibility to more directly interact with you and your team.
Travel/Lodging:	= for on-site sessions that require travel and accommodation we add one extra day plus the direct cost of travel and lodging to deliver my services. To minimize costs, we generally try to get most work done in one week to make sure you have a template business plan, as well as a marketing plan and project plan. You can work on the details and we can review those details using a ZOOM session, or a follow-up visit to complete the work. We aim to arrive on the earliest flight, and leave on the last flight, to maximize the total time available on-site, or book an extra night accommodation to arrive the evening before.

To create the overall schedule, we use an Excel™ worksheet. We book group sessions based on a prepared schedule and private sessions based on our availability and the preferences you have indicated. We will invoice you via PayPal™ in advance, with the dates of the sessions, and you will get reminders one day prior to each session you are scheduled for. Evening and weekend sessions can be arranged for aspiring entrepreneurs that are otherwise occupied during regular working hours.

As a business coach you develop a special relationship as you help your client become more successful. LIFTOFF! is a great tool to add a tangible service to a relationship that many entrepreneurs find hard to define. Instead of getting involved when the business appears to be stagnating, this is the opportunity to get involved when you can create a solid foundation that prevents the business from stagnating. Obviously, this adds a different dimension to coaching: to encourage the entrepreneur to solidify their vision and express that in a plan that can be used to gauge progress. You help structure the business plan, but then encourage the entrepreneur to explore options that help them make an informed decision about the business they are about to start.

A coaching service differentiates itself from other business plan service providers that are primarily in the writing business, and less so in the analysis or consulting business that new entrepreneurs need to get launched. A traditional business plan will cost at least $5,000 and a lot more if you consider marketing plans and project plans for any business venture that is more complex. It focuses on the final product, not the trial and error analyses of how different strategies yield different results the entrepreneur might consider before making their investment. In fact, every revision to the plan is a paid-for service, which discourages doing what is most important in the process: to explore the potential risks and/or opportunities inherent in the business concept.

Coaching shifts the emphasis on analyzing alternative opportunities and strategies for a profitable business rather than on writing the business plan to impress investors. You can still transform a plan produced by the LIFTOFF! software if you want, but what impresses financiers and investors is your ability to respond to questions about the assumptions and consequences, so that you can demonstrate the ability to respond to situations that may evolve when that business is in full operation. There are some realities to consider:

Banks are not the best place to go for business start-up funding. Unless you have at least 2 years of proven business results to show, banks are reluctant to lend to new business ventures because of the over 50% failure rate for start-ups. A bank is mostly focused on risk management: return on investment is secondary to the guarantees you provide (such as pledging personal assets).
Venture capitalists may want to provide funding in exchange for equity in your business venture. This is not necessarily bad, you need to look at what you can gain from investors (50% of profits in a viable company is better than 100% of a company you cannot get off the ground).
Angel investors may see value in what the entrepreneur is trying to do and be willing to put money into the venture to see it succeed. They see more value in the in-depth planning than in the pretty presentation of the business plan: a LIFTOFF! plan that covers many combinations of assumptions offers real-time answers to the most common questions about optimistic vs. conservative data used to put the business plan together.

Coaching is a service, which is subject to taxation in Ontario, Canada. We provide an estimate based on the recommended sessions, then you decide what sessions you want to register for (we flag sessions that are essential and ones that are optional). In addition, you can reach us via Email with questions that stop you in your tracks, and we will make every effort to respond promptly. Note that our coaching is not limited to advising you: we can also customize the business model represented in a LIFTOFF! plan, so it can be made to order for your specific business requirements. We can quote you a price based on your specific needs, but usually we can complete a new worksheet model in the range of $2,000 - $3,000 that includes all the Excel™ cell-formulas required to calculate results.