For learning leaders contemplating the leap to solopreneurship, several critical considerations can set you up for success from day one. Identifying a business plan and strategies for finances, personal branding, marketing and client acquisition can better prepare you for your launch. While you don’t need all components to start your independent coaching or consulting practice, having a clear plan with these elements can set a clear direction and boost your confidence.

Before you start mapping out your plan for success, take time to assess your expertise, skill set and mindset. Identify your strengths and consider how they can translate into a coaching or consulting practice. Reach out to your network to help you articulate the value and impact you have on others and ask them what they would be willing to pay. Lean into a growth mindset by embracing failure as an opportunity and challenges as possibilities. While there is competition in the market, there’s more than enough space to make your mark. Stay positive, be open to taking risks, experiment daily, and persevere through the ebbs and flows of business ownership. This will help you maintain resilience.

Creating a Business Plan

Mapping out a business plan at least 6-12 months before going live provides focus and clarity to your unique selling proposition (USP). Planning creates space for you to set aside savings to keep you afloat for the first year or two of your business and helps you assess your general readiness for taking the leap. There are various templates and one-pagers online. You can also contact your local small business development center for specific support with your business strategy. They offer free consultations customized to your practice.

Key components of your plan may include:

• The problem you are solving.
• Your solution(s) and revenue streams.
• USP and/or your company’s differentiator.
• Target market and potential competitors.
• Anticipated expenses.

Once your business plan is in place, create a realistic timeline for your launch, including milestones you want to reach before day one. Place your go-live date on a sticky note near your desk to keep you motivated and on track. Building your business while juggling a full-time job and personal life can be challenging, but with strategic time management, it’s achievable. While working on this side hustle in the early morning, evening, or weekends may be a viable option for some, it may not work for everyone. Using your company’s paid time off (PTO) to build your practice might be a more realistic option for others.

As a new training consultant, the chances of earning your current salary in your first year or two of business are low. While every coach or consultant’s journey is different, it takes time to build a client base and consistently bring in monthly revenue. Ensure you have enough savings set aside to live until you begin making a steady income. This may include making lifestyle changes during your first two years of business to ensure financial stability.

Tips for Marketing Your Services

You can start thinking about marketing your services once you’ve identified your target audience and USP. While your performance as an independent consultant or coach is critical, identifying your brand and finding opportunities for people to get to know you and your expertise will drive clients to you. After all, people don’t buy what you do; they buy who you are. Spend time identifying your values, purpose and strengths. These will help you solidify and articulate your brand. Marcus Buckingham’s StandOut assessment is one free tool that can help you identify how others perceive you and provide language to market your unique value.

There are several avenues to market your consulting services and gain leads. A lead is someone who has shown interest in your offerings — they are your potential clients.

Examples of lead generators include:

• Posting regularly on social media (i.e., LinkedIn, Meta, Instagram, etc.).
• Speaking at conferences.
• Hosting or guesting on podcasts.
• Creating a newsletter or blog.
• Conducting free webinars.
• Participating as a member of networking groups.
• Writing for industry magazines or websites.
• Authoring a book.
• Developing free guides, videos or one-pagers.
• Creating a website.

Identify 1-3 lead generators you want to start with and craft an action plan. Social media marketing on LinkedIn is a great starting place, with 1 billion registered users in 200 countries worldwide, providing a large pool of potential clients. If you begin with social media marketing, start by posting consistently at least once a week on the same day and time, focusing on building relationships.

You’ve got your business plan, money set aside, a clear brand and a marketing strategy. Now it’s time to win clients to start earning income. Prepare ahead of your calls. Use a system like Calendly to make scheduling easier and help screen potential clients ahead of time. Add questions on the booking page to help you understand your potential clients’ needs, challenges and goals. Use the call as an opportunity to help your client solve problems. Lean into curiosity, ask questions, be generous with your expertise, and offer support where you can. After the call, follow up with the individual within one or two business days with a summary of the conversation and the next steps they should take to begin working with you.

Conclusion

Starting a solopreneurship or small business is an exciting and complex endeavor. Taking time to map out a strategic guide at least six months before your launch gives you the time and space to set yourself up for success on day one.

As you start your business, focus on consistently showing up and creating healthy boundaries. Develop meaningful relationships, create space for continuous learning and offer your expertise generously. If you are intentional and thoughtful in your planning, you can build and launch your own successful practice. Happy planning!