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Coaching Business Plan

A complete business plan for coaching mobile app connecting coaches from every field to the coachees around the world

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Coaching Business Plan

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  1. 20 2020 20 ABC INC Business Plan

  2. TABLE OF CONTENTS TABLE OF CONTENTS QUICK PITCH .......................................................................................................................... 3 EXECUTIVE SUMMARY ......................................................................................................... 4 PROBLEMS AND SOLUTIONS .............................................................................................. 7 MISSION, VISION AND GOALS ............................................................................................ 9 OBJECTIVES ......................................................................................................................... 10 KEY SUCCESS FACTORS .................................................................................................... 12 PLATFORM OVERVIEW ....................................................................................................... 14 MANAGEMENT TEAM .......................................................................................................... 16 MARKET ANALYSIS ............................................................................................................. 17 REVENUE FROM COACHING INDUSTRY .................................................................................. 18 NUMBER OF COACH PROFESSIONALS WORLDWIDE ............................................................ 20 MANAGERS OR LEADERS USING COACHING SKILLS ............................................................ 22 DEMOGRAPHICS AND BEHAVIOUR OF COACHES WORLDWIDE ......................................... 23 IMPACT OF COVID-19 ................................................................................................................... 24 TARGET MARKET ................................................................................................................. 26 LOCATION ANALYSIS ......................................................................................................... 29 REVENUE DRIVERS .............................................................................................................. 31 COMPETITIVE ANALYSIS .................................................................................................... 32 MARKETING STRATEGIES ................................................................................................... 42 SWOT ANALYSIS ................................................................................................................. 46 REFERENCES ........................................................................................................................ 49 Page 2 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  3. QUICK PITCH QUICK PITCH ABC INC ABC INC. . PLATFORM PLATFORM UNIQUE SELLING POINT UNIQUE SELLING POINT The platform will be an online marketplace driven by data and AI tools aimed to connect the coaches & coachees, enable coaches to manage their practice effectively through advanced features, and enhance the user experience. One-of-its-kind platform providing opportunities to different categories of coaches Reasonable subscription packages § § OPPORTUNITY OPPORTUNITY PROBLEM WORTH SOLVING PROBLEM WORTH SOLVING § People have to search through multiple platforms to hire coaches § At present, there is no single platform registering multiple categories of coaches § Other platforms present in the market charge an exorbitant amount of commission from the earnings of coaches or freelancers registered on their platform. COMPANY’S SOLUTION COMPANY’S SOLUTION The platform will assist the coachees to find coaches of their choice on a single platform. All categories of coaches will be allowed to get registered on the platform whether it is arts, sports, life coach, etc. The platform will charge coaches based on a fixed monthly or yearly subscription without taking a regular commission on their earnings § § § TARGET MARKET TARGET MARKET The target market of the company includes: Coaches § Employers or Corporates § SALES AND MARKETING SALES AND MARKETING REVENUE DRIVERS REVENUE DRIVERS § Increased Demand § Growing internet penetration MARKETING ACTIVITIES MARKETING ACTIVITIES Social media Website and mobile application Content marketing Referrals § § § § Page 3 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  4. EXECUTIVE SUMMARY EXECUTIVE SUMMARY Industry Overview: Industry Overview: The coaching industry has experienced a massive boom worldwide across a range of sectors over the past few decades. The COMPANY INFORMATION COMPANY INFORMATION industry is said to be the second-fastest-growing §Company Name: ABC Inc §Platform Name: XYZ §Business: Coaching Platform Industry §Location: Melbourne, Victoria §Geographical Focus: Worldwide §Website: §Overall Objective: To enable coaches establish their online presence and ease the process of hiring coaches for people sector in the world within the past 10 years. As the demand for coaching services will increase in the future, there will be the need for these services to be delivered in the format preferred by the largest segment of the market i.e., tech-savvy population. So, digital platforms are expected to become the primary communication method in the years to come. These digital platforms will also become the primary tool among the businesses who are looking to schedule OWNERSHIP OWNERSHIP time more effectively while booking top-tier coaches for seminars and workshops. §ABC Inc The global technology progress and its influence on REVENUE FORECAST REVENUE FORECAST the day-to-day activities of people have driven a §Year 1: §Year 3: §Year 5: constant change in customer behavior. People nowadays require more creativity, open-mindedness, online presence, and flexible working options from PROFITAB PROFITABI ILITLY FORECAST LITLY FORECAST coaches, which has created a massive demand for online platforms connecting both through more §Year 1: §Year 3: §Year 5: advanced options. Company Summary: Company Summary: To be a part of the growing FUNDING NEEDED: FUNDING NEEDED: §Owner’s Funds: §Investor’s Funds: coaching industry, the founder, Mr. A is planning to launch a platform named ‘XYZ’ which will be a SaaS- based platform aimed to connect coachees with coaches of their choice. The platform will allow the coaches to perform basic functions including scheduling assignments, creating assessments, marking a coaching calendar, and much more. It will also enable coachees from every part of the world to hire a coach of their choice. In a nutshell the platform will be a coaching universe Page 4 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  5. that will provide an opportunity for any coach to reach out to his/her customers and in the same way allow coachees to reach out to their desired coaches. Parent Company: Parent Company: The platform will be owned by the parent company, ABC Inc, which is owned by Mr. A as the managing director. In the future, the platform will be registered as an independent entity with founder Mr. A as the only director. Platform Milestones: Platform Milestones: The product will initially be launched as a desktop App/website and after having created a presence among the targeted audience, the founder will be looking to launch the mobile app version of the platform. The founder aims to launch a base version of the product as MVP 1 (Minimum Viable Product) at end of June 2021. Once the base version is launched, he will keep on releasing subsequent versions every 6 months. P Platform latform Description: Description: The web platform and mobile application of the company will onboard coaches from all spheres of life on a single platform and allow them to establish direct connections with their potential customers by presenting their work professionally through the platform. The platform supported by AI tools and data analytics will enable the coaches to schedule their work effectively. Target Segment: Target Segment: The primary target market of the platform will be worldwide coaches looking to create an online presence and manage their regular and administrative tasks effectively without having to devote extra time for the same allowing them to focus on their core services. In addition to this, the company will also be targeting people looking to hire different coaches (coachees) through a single platform, whether it is an individual or corporate employer, and encourage them to join the platform’s platform to fulfill their requirements. The authenticity of the coaches will be checked in advance before allowing them to register on the company’s platform to assure security to the customers (coachees) looking to hire them. Geographical Reach: Geographical Reach: The platform will be focusing on the worldwide coaches and users from the very beginning. It will be looking to expand the market by introducing additional services and improving the platform features based on customer feedback and changes in the information technology industry. Company Ownership in Future: Company Ownership in Future: The new company will be owned by Mr. A as the only director. A Qualified information technology team and administrative staff will be hired to assist him in daily operations and regular training will be provided to the employees working within the company to update them with the latest trends in the information technology industry. Page 5 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  6. Strategy: Strategy: The Company will be perfectly positioned to capture a significant share in the multi- billion-dollar coaching platform industry through the experience of its founder and a comprehensive team of employees, and their ability to utilize state-of-the-art digital and social media marketing strategies. The Company is committed to investing in the latest technology, highly skilled information technology team, and marketing professionals so that it can create a solid base of professional coaches. Competition: Competition: The primary competition comes from the platform named CoachingLoft.com, which is engaged in connecting the coaches and coachees and helping both manage daily tasks and measure the progress. In addition to this, Upwork, PeoplePerHour, and Freelancer.Com are the other indirect players with whom the company will compete based on its unique offerings and pricing structure. Page 6 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  7. PROBLEMS AND SOLUTIONS PROBLEMS AND SOLUTIONS Problems: Problems: At present, there is no single platform in the market, which allows coachees to find coaches of all categories under one roof. Coachees have to visit different websites or platforms to find a variety of coaches for varied requirements, which makes it a cumbersome procedure to search through various sources. Searching and managing the coaches through various sources also consumes a lot of productive time of coachees, which can otherwise be devoted to other productive activities. Some of the examples of difficulties being faced by coachees are outlined as follows: §If someone needs an agile coach for their scrum teams, they have to look into LinkedIn, job sites like Indeed, or freelance work sites like Upwork, Toptal, etc. §If they need a life coach or a mentor, they have to look up LinkedIn or freelance work sites like Upwork, PeoplePerHour, or individual sites of different coaches §If they need a soccer coach, tennis coach, or yoga coach for themselves or their children, they will end up searching through multiple sites §If they need a gardening coach, interior decoration coach or a pottery coach for their hobby or even a coach for their pet, they do not know where to look, till Google helps them to find something suitable to their requirements In the same way, as there is no single platform for all categories of coaches, coaches with different skills or abilities find it difficult to manage their work through multiple platforms. Moreover, at present, the global market for coaching and mentoring is fragmented. Where there are celebrity coaches who have their own world of coaching, mentoring, and following, there are also ex-presidents, CEOs, retired military leaders, etc. who provide life coaching or leadership coaching but do not have the required resources to establish an online presence. The bulk of the coaches are however reaching out to a wide audience through social media, LinkedIn, Upwork, Toptal, or EDM mailers. At the same time, there is a plethora of separate coaching software that charges coaches to perform basic tasks like appointment scheduling, assessments, etc., thereby increasing the cost burden on the part of coaches. Moreover, the majority of platforms that are presently active in the market are charging their users based on a fixed percentage of commission on their earnings through the platforms. This discourages many coaches from using online platforms to find the work. Page 7 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  8. Solution: Solution: Here lies the business opportunity to create a single unique online platform to bring all types of coaches under one umbrella, which encouraged the founder to establish a platform named ‘XYZ. The platform will help the coaches/mentors/trainers to reach out to the prospective students without having to incur a heavy recurring cost. It will also help people, organizations, clubs, etc. to search for the right coach through a single platform. Some of the benefits to be offered by the platform are outlined as follows: §Assist a neighborhood coach to get customers through cluttered sites like LinkedIn. §Help an executive to hire the right coach he/she needs. §Assist an individual to hire a fitness coach or a life coach. §Assist parents to find the right soccer coach, sports coach, or teenage coach. §Help retirees to find the right gardening coach. The platform is an attempt to solve all the problems being faced by both the coaches and coachees. The platform will be a universal online marketplace for coaches which will also have features of a SaaS (Software as a Service) platform that will allow the coaches to do certain basic coaching functions in addition to establishing connections with their potential customers. Page 8 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  9. MISSION, VISION AND GOALS MISSION, VISION AND GOALS MISSION MISSION To create a user-friendly platform aimed to assist coaches in managing their practices and scheduling tasks efficiently and help coachees throughout the process of selecting the right coach based on their requirements with the help of AI-based tools and systems. VISION VISION To be the leading and trusted coaching platform focused on simplifying the experience of hiring coaches through advanced discovery tools and ensuring proper authentication. GOALS GOALS To position itself among the top § coaching platform companies worldwide To be a one-stop solution for § people looking to hire experienced and skilled coaches under different categories Page 9 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  10. OBJECTIVES OBJECTIVES Short Short- -Term: Term: §To build an initial base of coaches through personal networking and social media advertising. §To hire qualified IT staff and provide regular training to them to update them with the latest trends in the information technology industry. §To create an open, accountable, and transparent culture across all levels in the company. §To formulate multiple marketing strategies to ensure a steady flow of valuable leads. §To introduce attractive launch offers initially to build loyal coaches and coachees base. §To assist the coaches to build, manage, and organize their practices to make their coaching experience better. §To assist coaches in tracking the performance of the coachees. §To assist the small and big coaching companies to monitor the performance of coaches employed through advanced tracking tools to ensure the highest customer satisfaction. §To assist the corporate employers in measuring the performance of external coaches hired through the platform. §To assist the coaches in increasing their productivity through setting realistic goals and tracking the performance on regular basis. §To provide an authenticated platform aimed to establish trust and confidence among users registering on its platform. Mediu Medium m- -Term: Term: §To review and measure the company’s growth and impact periodically, aligning business strategies with existing market trends. Page 10 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  11. §To continually expand the user base of coaches and platform offerings with a priority of building a brand name in the global market. §To monitor the platform performance periodically and introduce new features to address the changing requirements of the coaches and coachees. §To build organizational capacity and expertise to support growth and ensure the highest-quality delivery in all areas of work. Long Long- -Term: Term: §To become a premier coaching platform worldwide. §To regularly study consumer behavior and changes in technology to update the platform offerings to be at the top of coaching platforms globally. §To continuously seek new opportunities and gain a substantial market share to become a top coaching platform worldwide. §To achieve a higher return on equity compared with peers operating in the coaching platform industry and reach sustainable and profitable growth. Page 11 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  12. KEY SUCCESS FACTORS KEY SUCCESS FACTORS REASONABLE SUBSCRIPTION PACKAGES REASONABLE SUBSCRIPTION PACKAGES: : The platform will be free to download and use initially. The coaches will be provided with an option to upgrade the features by opting for different subscription plans. The subscription plans of the platform have been designed keeping in mind each segment of people and have been priced lower as compared to its competitors. Where competitors are charging the coaches or freelancers based on a percentage of commission on their regular earnings through the platform, the platform will have a standard subscription plan and no deductions will be made from the hard-earned money of the coaches. This will attract more coaches to the platform and thereby increase the user base of the company. THE FOUNDER FOUNDER: : The founder of the company has extensive experience in EXPERIENCE OF EXPERIENCE OF THE the information technology industry, which will help him in effectively managing the platform operations. He will leverage his expertise, strong domain knowledge, and personal networks to create a unique platform with advanced features that will induce more coaches and coachees to be a part of the company’s user base. EXTENSIVE MARKETING STRATEGIES: EXTENSIVE MARKETING STRATEGIES: The founder will leverage his networks and other digital marketing strategies as marketing tools to target its potential user base. It will also invest in becoming a thought leader in its segment and this will allow it to be discovered by the coaches and coachees worldwide. The Company will also be participating in the sports or business events and introducing referral programs so that it can widen its user base of coaches. UTILIZING THE NEXT_GENERATION TECHNOLOGY UTILIZING THE NEXT_GENERATION TECHNOLOGY: : Technology is accelerating the coaching businesses, and the shift to online coaching platforms to search coaches is driving the change faster than ever. The Company will use the next-generation technology coupled with AI tools to develop an efficient web application and mobile app for the coaches. It will allow them to use data analytics to manage their routine tasks and track the performance of their customers effectively. The addition of the latest features to the platform based on problems faced by the coaches and their customers will further result in the enhancement of user experience and increased visibility. Page 12 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  13. COACHES: : Due diligence is a vital step in the coaching PROPER AUTHENTICATION OF PROPER AUTHENTICATION OF COACHES industry as the coachees are investing a significant portion of their hard-earned money on hiring the coaches. The authenticity of the coaches will be checked at each level in the company to ensure that they are genuine persons having the required skills, education, and certifications. This will be ensured through reviewing the applications at the time of onboarding the coaches to the platform. SUPPORT: : Overall customer satisfaction is crucial to the business’s continued CUSTOMER CUSTOMER SUPPORT survival, and a team of dedicated customer support will assist the company in building a loyal customer base that will drive the business to success. These customer support executives will resolve the problems being faced by the users promptly, which will ultimately result in higher customer satisfaction. The feedback system will be kept transparent so that corrective actions can be taken as soon as possible through improving the overall working of the platform and update it with the latest features. The Company will collect the feedback through various means including social media, newsletters, blogs, surveys, or other digital channels. This way, the coaches and coachees will feel connected and a part of the business. Page 13 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  14. PLATFORM OVERVIEW PLATFORM OVERVIEW Platform Overview: Platform Overview: The Company will develop a web portal and mobile app facilitating the coaches to generate more business and manage their practices effectively. The platform will specifically be designed for people looking for different types of coaches on a single platform without the hassles of searching through multiple sources and the coaches looking to expand their customer base through creating an online presence. It is targeted towards people looking for ease and convenience while hiring the coach of their choice. The The Pricing Strategy: Pricing Strategy: The web portal and the mobile app of the company will be free to use and register. The free version of the web platform and mobile app will have limited accessibilities per user. In addition to the free version, coaches will also be allowed to choose from among two upgrade packages including basic and premium having different features for the coaches. The premium plan will allow unlimited access to the users. There are 3 key elements of the platform, which are explained in detail as follows: Element 1 Element 1 – – ‘The Coach’ ‘The Coach’ The platform will allow any coach or mentor to register on its website subject to acceptance of terms & conditions, privacy agreements and proper authentication by the platform. After approval from the platform, the coach can showcase his/her work on the platform. E Element lement 2 2 – – ‘The Employer’ ‘The Employer’ The platform will allow employers to publish coaching jobs on the platform. Element Element 3 3 – – ‘The Coachee’ ‘The Coachee’ §The platform will provide variety of options for the coachees to select the coach of their choice. §It will assist the coachees to manage their focus areas, complete learning through the platform, set goals, and measure the success against the set standards. Page 14 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  15. Business Model: Business Model: The business model consists of the key partners, key activities, marketing channels, etc. that provide an idea regarding the main elements of the business. The business model of the platform has been outlined as follows: Key Partners Key Partners Key Activities Key Activities §Professional coaches §Web portal and mobile application §Technology partners development §Investors §Authentication of coaches §Payment processing companies §Running support §Hardware and software providers §Platform maintenance §Marketing §Pricing packages Value Proposition Value Proposition C Customer Relationships ustomer Relationships §One-of-its-kind universal coaching §Word of mouth platform §Social media §Team comprising of strong §Referral program individuals who support common §Customer support goals §Networking §Reasonable charges as subscription §Blogs fee §Customer feedback §Use of next-generation technology §Experienced founders §Simple and user-friendly web and mobile interface §High-quality customer support Customer Segments Customer Segments Channels Channels §Coaches §Interactive website and mobile app §Employers §SEO §Corporates §Digital advertising §Coachees §Referrals §Retargeting campaigns Key Resources Key Resources §Robust web platform §Professional IT team Page 15 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  16. §Experienced founder §Hardware and software providers §Next-generation information technology Revenue Streams Revenue Streams Cost Structure Cost Structure §Subscription charges from the §Payment processing fee coaches §Information technology personnel §In-app advertisements §Utilities §Rent §Marketing and advertising §Management remuneration and payroll expenses MANAGEMENT TEAM Overview: Overview: The platform will initially be managed and operated by the founder, Mr. A as managing director holding 100% share in the parent company named ABC Inc. After creating a separate company for the platform, the whole platform will be managed and guided by Mr. A as the sole managing director of the company. A qualified professional IT and customer support team will be hired to support him in conducting smooth operations. The environment at the company will encourage employees by providing creative independence and providing challenges that are realistic and rewarding. Page 16 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  17. MARKET ANALYSIS MARKET ANALYSIS Industry Overview: Industry Overview: Coaching has become a billion-dollar industry. The industry’s growth has been so massive that the demand for qualified coaches is rising from several sectors, whether it be schools, corporate companies, sports, health clubs, and more. The perception of coaching has shifted from a luxury once reserved for high-income individuals to that of a significant contributor to the success of people from all spheres of life. Coaching appeared on the scene about 20 years ago, gained a fair degree of popularity within the last 10 years, and now is something most organizations and people are moving towards especially for their top talent and self-development. Methods Used by Coaches to Show Value of Coaching: Methods Used by Coaches to Show Value of Coaching: 360 assessment is the highest used criteria by the coaches to show the value of coaching to their potential customers, followed by wee-being & engagement and performance reviews1. 29% 20% 18% 15% 10% 8% 360 Assessments Well-being and Performance Reviews Impact on Business Return on Investment Effectiveness of Learning Engagement In addition to this, the coachees are becoming sophisticated, and they are willing to pay for coaches with great coaching skills and profound results. As a result of this changing preference of people, app-based coaching platforms are expected to become a significant player in the industry accounting for a share of 67%2. Considering the demand for coaches and the changing preference of people to use app- based coaching platforms, the founder decided to launch the platform ‘XYZ’ which is aimed to simplify and digitize the business of coaches, improve their work efficiency, and deepen the customer engagement. Page 17 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  18. REVENUE FROM COACHING INDUSTRY REVENUE FROM COACHING INDUSTRY Annual Revenue from Coaching by Region: Annual Revenue from Coaching by Region: The estimated global total revenue from coaching in 2019 was $2.85 billion, representing a 21% increase over the 2015 estimate. North America has the highest annual revenue from coaching amounting to $1.30 billion comprising 45.50% of the global revenue3. Share in Global Annual Revenue from Coaching 4.42% 3.55% 6.71% 2.81% Asia 32.16% Eastern Europe Latin America and the Caribbean Middle East and Africa North America Oceania Western Europe 4.85% 45.50% Coach practitioner’s average revenue is highest in the high-income regions of Oceania, North America, and Western Europe. Presently, 90% of coach practitioners have active clients. Almost all coach practitioners have completed some coach-specific training through programs accredited/approved by a professional coaching organization (93% in the 2020 study, up from 89% in 2016). Total Annual Revenue from Coaching Total Annual Revenue from Coaching USD USD (million) (million) Share of Global Share of Global % of change % of change (%) (%) 2015 2015- -2019 2019 $126 4.4% 12% Asia Asia $101 3.6% 45% Eastern Europe Eastern Europe $191 6.7% 107% Latin American and the Latin American and the Caribbean Caribbean $80 2.8% 9% Middle East and Africa Middle East and Africa $1,296 45.5% 36% North America North America $138 4.9% -10% Oceania Oceania Page 18 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  19. $916 32.2% 2% Western Europe Western Europe $2,849 100.0% 21% Global Global Average Annual Earnings Average Annual Earnings by Experience by Experience: : According to a recent survey, veteran coaches who have been in business for 15 years or longer earn an average annual wage of $160,0004. $160,000 $122,000 10 - 15 Years 15 Years or Longer Average Annual Earnings by Region: Average Annual Earnings by Region: The average annual revenue/income from coaching rose by 4% in 2019 as compared to the previous year. The average annual revenue from a global perspective stood at $47,100 per coach. Average annual revenue/income from coaching verage annual revenue/income from coaching $62,500 $61,100 $51,100 $34,900 $33,600 $20,900 $19,100 Asia Eastern Europe Latin American and the Caribbean Middle East and Africa North America Oceania Western Europe A survey of international coach salaries found that life coaches make about $190 per hour, while business coaches and executive coaches make $279 and $386, respectively5. Page 19 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  20. NUMBER OF COACH PROFESSIONALS WORLDWIDE NUMBER OF COACH PROFESSIONALS WORLDWIDE Coach Coach Practitioners Practitioners & Managers & Managers Highest Growth Regions in Terms of Number of Coach Professionals W Worldwide orldwide: : There were approximately 71,000 coach practitioners in 2019 174% depicting an increase of 33% on the 2015 estimate. The managers/leaders using coaching skills were 40% approximately 15,900 showing an Latin America and the Caribbean Eastern Europe increase of almost half (+46%). The The Number of Coaches and Man Number of Coaches and Managers/Leaders Using Coaching Skills by Region: agers/Leaders Using Coaching Skills by Region: The highest number of coaches are concentrated in North America and Western Europe. Coach Practitioners Generation by Region: Coach Practitioners Generation by Region: The majority of the coach practitioners worldwide are in the Generation X age cohort, except North America where a majority of the coach practitioners are Baby Boomers. In the Oceania region, a majority (51%) of the coach practitioners are Generation X, and Baby Boomers account for 43% only. The generation wise % of coach practitioners among different region is as hereunder: Page 20 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  21. Coach Practitioners Generation by Region Coach Practitioners Generation by Region 0% 0% 0% 1% 1% 1% 2% 3% 14% 25% 28% 29% 34% 38% 43% 53% 64% 55% 62% 59% 58% 51% 51% 39% 22% 16% 13% 12% 9% 7% 5% 5% Asia Eastern Europe Latin America and Caribbean Middle East and Africa Gen X North America Oceania Western Europe Global Millennial Baby Boomer The Greatest Generation Number of coach practitioners in 2019, showing an increase of 33% as compared to 2015 Growth in the number of managers/leaders using coaching skills worldwide 71,000 71,000 46% Growth in the number of managers/leaders using coaching skills in Asia Growth in the number of managers/leaders using coaching skills in Latin America and the Caribbean 198% 198% 124% 124% Coach Practitioners by Gender: Coach Practitioners by Gender: In 2019, 70% of the coach practitioners were female worldwide. Whereas, in the Easter Europe and North America region, the percentage of female practitioners was highest among other regions with an estimated share of 75%. 59% 65% 66% 70% 71% 72% 75% 75% 41% 35% 34% 30% 29% 28% 25% 25% Asia Eastern Europe Latin America and the Caribbean Middle East and Africa North America Oceania Western Europe Global Male Female Page 21 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  22. MANAGERS OR LEADERS MANAGERS OR LEADERS USING COACHING SKILLS USING COACHING SKILLS Users by Generation: Users by Generation: From a generational perspective, Generation X accounts for the majority (61%) of managers/leaders using coaching skills. The remainder is equally split between millennials and baby boomers. There are distinct regional differences in the distribution across the generational spectrum. Managers/leaders of Generation X constitute the majority of users across all the regions, from 53% in North America and Oceania to 69% in Western Europe. The detailed breakdown of generation wise usage of coaching skills by the managers or leaders is outlined as follows: 8% 12% 14% 20% 20% 19% 34% 35% 61% 63% 64% 61% 62% 69% 53% 53% 31% 25% 22% 19% 18% 13% 12% 11% Asia Eastern Europe Latin America and the Caribbean Middle East and Africa North America Oceania Western Europe Global Millennial Generation X Baby Boomer Managers and Leaders by Gender: Managers and Leaders by Gender: Globally, females account for 68% of managers/leaders using coaching skills, ranging from 61% in the Middle East and Africa to 80% in Eastern Europe. In the Oceania region, 77% of managers/leaders using coaching skills were female. 61% 63% 64% 67% 68% 77% 77% 80% 39% 37% 36% 33% 32% 23% 23% 20% Asia Eastern Europe Latin America and the Caribbean Middle East and Africa North America Oceania Western Europe Global Male Female Page 22 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  23. DEMOGRAPHICS AND BEHAVIOUR OF COACHES WORLDWIDE DEMOGRAPHICS AND BEHAVIOUR OF COACHES WORLDWIDE §Male coach practitioners are more likely to have a business specialty (74% compared with 61% of female coach practitioners). §A minority, under one in five coach practitioners (17%) work as both an internal and external coach practitioner. On an average, they devote a higher proportion of their time to their internal coaching practice (54%). §In 2019, 65% of coach practitioners identified business coaching (which inter-alia covers leadership coaching, executive coaching, business/organization coaching, or small business coaching) as their main specialty as compared to 62% in 2015. The change was mainly driven by the rise in the proportion of coaches citing leadership coaching as their main specialty, up from 25% in 2015 to 30% in 2019. §Among coach practitioners with a business specialty, 40% of engagements were typically for seven or more months, compared with 28% for coach practitioners with a non-business specialty. §Most frequently, coach practitioners engage with their clients in person. The use of audio-video platforms has doubled in the past four years, from 24% in 2015 to 48% in 2019. The outbreak of pandemic has also necessitated the usage of online platforms for coaching, thereby increasing the demand for coaching platforms worldwide. Moreover, the online channels also enable the coaches to cater to the worldwide audience and thereby increased the geographic reach of the coaches, broadening their revenue base. 90% 90% 9 93 3% % Percentage of coach practitioners having active clients Percentage of coach practitioners offering additional services such as consulting, counseling, etc. 55 55% % 44 44% % 55% of the people and organizations who receive/use coaching expect their coaches to be certified/credentialed On average, coach practitioners who offer additional services allocate 44% of their time to the coaching Page 23 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  24. IMPACT OF IMPACT OF COVID COVID- -19 19 Coach practitioners have also been affected by disruptions caused by the Covid-19 pandemic. In a recent survey by ICF, 49% had experienced reduced income, while37% said their hours had been reduced. On the other hand, 34% of coach practitioners had said they had not experienced any adverse effects from the pandemic on their income and employment. About the overall impact of the pandemic on the coaching practice/business, 25% said they had experienced a significant negative impact with a further 40% reporting a limited negative impact. Only one in 10 said there had been no impact from the pandemic on their coaching practice. Almost one in four coach practitioners (24%), reported that the pandemic had a positive impact. Covid-19 impact on Coaching Practitioners Business 40% 25% 16% 10% 8% Significant Negative Limited Negative No Impact Limited Positive Significant Positive The proportion reporting a significant positive impact ranged from 7% in North America to 12% in the Middle East and Africa. While proportion reporting no impact ranged from 6% in Latin America and the Caribbean to 13% in North America. The region-wise breakup of the same is as hereunder: Impact of Covid-19 on Coach Practitioners Business 10% 12% 7% 10% 9% 8% 8% 8% 18% 15% 16% 16% 19% 20% 14% 15% 13% 12% 10% 10% 9% 8% 8% 6% Asia Eastern Europe Latin America and the Caribbean Middle East and Africa North America Oceania Western Europe Global No Impact Limited Positive Significant Positive Page 24 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  25. 19 impact: Other statistics regarding the impact of covid-19 impact Other Statistics of Covid Other Statistics of Covid- -19 impact on coach practitioner’s business are as hereunder: §Due to the guidelines of social distancing post-COVID, there has been a sharp decline in coaching in person (80%). As a result of the same, coaches have started using audio-video platforms (74%) to provide coaching across the regions post- pandemic. This has resulted in increased demand for coaching platforms like XYZ. §Globally, a large majority of coach practitioners (71%) agreed or strongly agreed that they will have to invest more in technology in the future including the need to create a digital presence among people through platforms like XYZ. §85% of coach practitioners have an opinion that their clients are willing to adapt to new technologies regarding their coaching sessions. This is the result of people becoming more tech-savvy after COVID-19. §Globally, the majority of coach practitioners have agreed that life vision and enhancement coaching will become more prevalent in the future. Page 25 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  26. TARGET MARKET Target Market Overview: Target Market Overview: The target market of XYZ comprises of two segments. The primary segment of the company is coaches (arts, sports, life coaches, executive coaches, etc.) from all over the world looking to create an online presence of their own. In addition to the coaches, it will also be targeting the businesses or corporates looking to hire coaches to train their employees. Coaches Coaches: : The company will be targeting coaches from all spheres of life including IT, sports, arts, executive, etc. Some of the statistics regarding the coaches and their behavior worldwide are outlined as follows: §Nearly all coach practitioners (99%) have completed some coach-specific training. Increasingly, training is through programs accredited/approved by a professional coaching organization (93% in the 2020 study, up from 89% in 2016). §The vast majority of coach practitioners (95%) had completed 60 or more hours of training in 2019, up from 93% in 2015. §A plurality of coach practitioners (43 had received 200 hours or more training, compared with one in four (25%) managers/leaders using coaching skills. §Almost all coach practitioners (94%) offer services in addition to coaching. Most frequently, coach practitioners also offer consulting (60%), training (60%) and/or facilitation services (54%). Page 26 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  27. §The overall mix of clients served by coach practitioners has remained broadly unchanged since 2015. 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. Similarly, the proportion of coaching personal clients was unchanged at 19%. §The split between primary and sponsored clients is strongly related to the number of years of coaching. The sponsored share ranges from 25% among coach practitioners with less than one year of experience to 64% for coach practitioners with ten or more years of experience. §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. Businesses Businesses and Corporates and Corporates: : Businesses worldwide are increasingly spending money on internal and external coaching or training to improve the skills and performance of their employees. With the growth and popularity of online coaching platforms worldwide, businesses and corporates are looking to use these platforms to ease the process of hiring and monitoring the performance of employees effortlessly, so that the managers can spend most of their time on productive efforts. As the number of businesses and start-ups is increasing worldwide, it will necessarily create demand for online coaching platforms like XYZ. Some of the statistics regarding the number of businesses worldwide and spending on coaching or training are outlined as follows: §Millions of companies and entrepreneurs are registered daily all over the world. Only China daily counts about 11,000-13,000 new businesses and the total number of registered companies in this country exceeds 77 million. The total amount of companies all over the world is approaching 200 million6. This represents a vast majority of target customers that can be targeted by the coaches. Page 27 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  28. §Since the great recession, when the global workplace training industry was hit heavily, the industry has rebounded strongly, posting year-on-year growth to reach estimated spending of $370.3 billion in 20197. Spending on Global Workplace Training (in Billions) Spending on Global Workplace Training (in Billions) $370.3 $366.2 $362.2 $359.3 $355.6 $322.2 $306.9 $291.7 2012 2013 2014 2015 2016 2017 2018 2019 The The Insight: Insight: The changing preference of coachees, employers, and corporates towards hiring coaches online through third-party platforms is projected to fuel the market demand in the future that will help the company to secure a significant portion of revenue in the target market. The Company will frame suitable strategies depending upon the changing market conditions to support business growth and be the top coaching platform worldwide. Page 28 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  29. LOCATION ANALYSIS LOCATION ANALYSIS The platform will be registered in Melbourne, Australia, and will be looking to target the worldwide coaches and coachees. According to a report by UK real estate company Savills, Melbourne is not only liveable but also incredibly tech-career friendly. Melbourne is currently ranked as the best tech city in Australia and the 14th best tech city in the world with the criteria for assessment including business conditions, tech environment, quality of life, and cost of accommodation. Other reasons for choosing the said location are outlined as follows: §Victoria is Australia’s ‘startup state’, and Melbourne is the heartbeat. Melbourne has a thriving and growing entrepreneurial community that has a huge impact on the nation’s startup market. The central business district of the city is home to startup incubators and co-sharing spaces that help to bolster the startup market in the city. With dedicated workspace and living space, entrepreneurs are free to innovate and design without having to worry about finding safe and appropriate facilities. §One in three founders are women; one in three founders are born overseas, and 2% of founders are from indigenous peoples (representing 1% of the Victorian population)8. ECO ECO- -SYSTEM VALUE SYSTEM VALUE TOTAL EARLYSTAGE TOTAL EARLYSTAGE FUNDING FUNDING $ $4.8 4.8 B Billion illion $363 Million $363 Million Global Average: $10.5 Billion Global Average: $431 Million Performance Performance Talent Talent Top 15 APAC Ecosystem Top 15 APAC Ecosystem MEDIAN SERIES A ROUND MEDIAN SERIES A ROUND MEDIAN SEED ROUND MEDIAN SEED ROUND $ $2.8 Million 2.8 Million $ $541K 541K Global Average: $2.7 Million Global Average: $494K Page 29 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  30. §Victoria reportedly has 190 meetup groups centering around startups and entrepreneurship, with another 460 tech-specific groups. These casual networking events are great spaces to meet like-minded people at all stages of the startup journey. As the company is at its initial stage of business, these meetups will provide valuable leads for the platform. §According to LaunchVic, there are over 150 co-working spaces in Victoria. Melbourne co-working spaces often house entrepreneurs as well as freelancers and creatives. These co-working spaces allow the start-ups to manage their expenses at an initial stage, thereby increasing the ease of doing business in the area. §There are many different firms and investor networks offering private equity and other funding opportunities at all stages of the startup journey. §The Victorian State Government has waived 2019/20 payroll tax for Victorian businesses with annual taxable wages of up to $3 million to assist them with their cash flow. 7 3 6 EXIT GROWTH INDEX INVESTOR ACTIVITY INDEX FUNDING GROWTH INDEX The above-said points make Melbourne a perfect city to start a tech-related business. With more than 4 million of the population in the city, it will be easy for the company to hire employees with varied skills and experience. Being an investors hub and business events center, it will also facilitate the company with various options to raise money for the start-up and further business expansion. More participation of the foreign-born population in the entrepreneurial activities further ensures the success of the business. Page 30 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  31. REVENUE DRIVERS REVENUE DRIVERS INCREASED INCREASED DEMAND DEMAND: : The multi-billion-dollar coaching industry has grown at warp speed over the past decade, as tens of thousands of people hire coaches for support in reaching goals related to these various aspects of their lives. The demand for coaching is on the rise in every sector. A huge percentage of people plan to hire coaches in the near future. The business coaching industry is demonstrating high demand within the USA and the UK. Coaching for start-up's and small organizations is demonstrating particularly high demand within South Africa and Australia. Some experts predict that coaching will grow at a rate of 6.7% through the year 2022. All these statistics depict a strong demand among people to hire coaches, which will ultimately benefit the online coaching platforms in terms of the increased user base. GROWING GROWING INTERNET PENETRATION INTERNET PENETRATION: : The number of internet users is growing worldwide with 2.5 billion internet users in Asia followed by Europe with 727 million users, and Africa with 631 million users. Looking at the internet penetration rate, North America tops the position with an internet penetration of 90.3% of the overall population, followed by Europe and the Middle East with a share of 87.2% and 71.5%. Increased internet penetration would mean more usage of coaching apps, which in turn will benefit XYZ in terms of the increased user base9. Internet Penetration Rate Worldwide - 2020 90.30% 87.20% 71.50% 70.80% 67.70% 63.20% 59.50% 47.10% North America Europe Middle East Latin Oceania World Average Asia Africa America/Caribbean Page 31 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  32. COMPETITIVE ANALYSIS COMPETITIVE ANALYSIS Direct Competitors: Direct Competitors: CoachingLoft.com: CoachingLoft.com: CoachingLoft.com is an all-in-one platform designed to help professional coaches to run their coaching practice, acquire new coachees, and manage their success. The company has designed the platform intending to manage the whole admin work of coaches and let them focus on their core specialty of coaching and gain maximum benefit out of it. Creating an account on the platform is free for the coaches. They can purchase the subscription plans to enjoy additional features offered by the platform. The company provides various solutions to professional coaches, coaching firms, and enterprises, which are listed as hereunder: Solutions for Professional Coaches (Individual):The platform provides the following functionalities to assist coaches in managing their schedules and daily routine: §One central coach’s dashboard §Setting goals and objectives §Setting and tracking §Management of coaching packages and auto-population of invoices directly from coaching agreement §Synchronized appointment scheduling with preferred calendar, secured internal messaging and email alert systems §Coach, session & program rating and feedback system Solutions for coaching firms:In addition to the features offered to individual coaches, the platform offers the following additional functionalities for the coaching firms registering on its platform: §Management of all coaches from one central dashboard §Monitor the coaches & coachees progress and activities §Assign or move coachees to coaches §Branding with own logo and colors scheme to create a strong presence among customers Page 32 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  33. Solutions for Enterprises:The company helps the large organizations in the effective management of internal coaching culture and making the coaching practices more impactful, effective, and efficient amongst their leaders and teams. Some of the major solutions offered by the platform are highlighted as under: §Management of all Internal coach/coachee relationships from one central organizational dashboard §Monitor the coach & coachees progress and activities §Assign or move employees across the internal coaches, external coaches and coaching managers and leaders Awards and Recognitions: §Premium Usability Award 2019 by FinancesOnline §Rising Star Award 2019 by FinancesOnline §Voted as Best Coaching Management Software 2019 by Reapon Founder Founder Wassim Karkabi Founding Year Founding Year 2018 Headquarters Headquarters Office 206, Dubai Knowledge Village, Block 17, Dubai, UAE 446 446 Followers 628 628 Followers 1,253 1,253 Followers 103 103 Followers Page 33 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  34. Indirect Competitors: Indirect Competitors: Upwork: Upwork: Upwork was formerly known as Elance-oDesk, which was formed to connect freelancers with corporate and individual clients worldwide. Elance was founded in 1998 by MIT graduate Beerud Sheth and Wall Street veteran Srini Anumolu. oDesk was founded in 2003 by two friends, Odysseas Tsatalos and Stratis Karamanlakis, who wanted to work together even though one of them was in the U.S. and the other was in Greece. Elance and oDesk announced their merger in 2013 to create Elance-oDesk. In 2015, the new company was rebranded as Upwork. Freelancers relatively receive higher pay from Upwork clients as jobs and tasks there are more complex with clients having high expectations. Platform Aim: Presently, Upwork is the largest global freelancing website, enabling businesses to find, hire, and pay highly skilled freelancers for short-term and longer-term projects. At the same time, Upwork frees professionals everywhere from having to work at a set time or place and helps instill trust in remote work. The platform has over 8,000 skills, including website & app development, creative & design, customer support, finance & accounting, consulting, operations, and much more. Platform Features: Upwork has built an expensive and unique repository of data on its platform, which, when combined with machine learning capabilities, enables Upwork to best predict the availability, interest, and skill relevance of specific freelancers for specific projects. Once a freelancer is matched with a job, the platform offers collaboration and communication features, time tracking & invoicing, and two-way feedback and review systems to better manage the lifecycle of project engagements. The platform serves everyone from one-person startups to 30% of the Fortune 100 with a powerful, trust-driven platform that enables companies and freelancers to work together in new ways that unlock their potential. Upwork’s freelancers have earned over $2 billion in 2019 alone. Founder Founder Elance and oDesk Founding Year Founding Year 2015 Headquarters Headquarters Santa Clara, CA 197.3K 197.3K Followers 102K 102K Followers 781K 781K Followers 570K 570K Followers Page 34 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  35. Freelancer.com: Freelancer.com: Freelancer.com is the world's largest freelancing and crowdsourcing marketplace by the number of users and projects. The company’s platform connects over 48,983,309 businesses and freelancers globally from over 247 countries, regions, and territories. Through the company platform, businesses can hire freelancers to do work in areas such as software development, writing, data entry, and design right through to engineering, the sciences, sales and marketing, accounting, and legal services. The company also owns Escrow.com, the leading provider of secure online payments and online transaction management for consumers and businesses on the Internet. The company earned a revenue of $58 million in 2019 with a team of more than 478 employees. To date, the company has raised an amount of $15 million through IPO. Other statistics regarding the company are outlined as follows: §Freelancer has acquired the companies named Webmaster-Talk, Nubelo, Prolancer Comunicacao Digital Ltda, and LimeExchange. §Freelancers can also only submit up to 8 proposals per month before they must upgrade to a paid account. §Freelancer is less expensive as compared to other platforms. §Freelancer.com’s profile verification process is more lenient and simpler as compared to other platforms. All a freelancer has to do is submit a valid government-issued ID card, keycode verification, and 2 recent utility bills or bank statements or 1 of each. §Freelancers can link their social media accounts with their Freelancer.com profile to improve the Trust Score. Founder Founder Matt Barrie Founding Year Founding Year 2009 Headquarters Headquarters Level 37 Grosvenor Place 225 George Street Sydney, NSW 2000 Australia ACN 141 959 042 228.8K 228.8K Followers 32.7K 32.7K Followers 2.19M 2.19M Followers 173K 173K Followers Page 35 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  36. PEOPLEPERHOUR: PEOPLEPERHOUR: PeoplePerHour is the UK’s leading freelance marketplace. The Company was founded in the year 2007 with a simple vision to connect businesses to freelancers and empower people to live their work dream. Since its inception, PeoplePerHour has become an invaluable resource for small businesses in the UK and outside, allowing them to hire expert talent as and when needed, 'on-demand' thereby staying lean and flexible while they grow. Furthermore, PPH also offers enterprise solutions to big businesses. This provides them with an avenue to quickly secure the talents they require for their projects to enable them to increase their business’ competitiveness in their own industry. Other statistics regarding the company are outlined as follows: §PeoplePerHour has solved over 1 million problems for businesses. §The platform has paid over £150 million to its freelancer community since its inception. §PPH as a platform offers an account management dashboard wherein businesses can perform a variety of tasks including messaging, project progress monitoring, project history, and more. §Posting jobs on PeoplePerHour is completely free. Employers pay only once a deal has been signed with a freelancer and is released when a project is completed. §Top industries that use People Per Hour as a freelance marketplace are the internet, software, and education. Founder Founder Xenios Thrasyvoulou Founding Year Founding Year 2007 Headquarters Headquarters London, England 76.7K 76.7K Followers 6.2K 6.2K Followers 169K 169K Followers 43K 43K Followers Page 36 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  37. COMPETITIVE COMPARISON COMPETITIVE COMPARISON Particulars CoachingLoft.com Upwork Freelancer.com PeoplePerHour Number of 16,489 subscribers 7 million 30 million More than 3 Coaches or 2,289 members registered clients registered million registered Subscribers 100 enterprise 12 million freelancers freelancers and 1 accounts registered million businesses freelancers Geographies 95 countries 180 countries 247 countries Presence in 180+ Covered including India, including United countries United States, States, Philippines, Canada, United Pakistan and the Kingdom, Australia, United Kingdom and others Charges from For Coaches The platform For fixed Service Fee: Coaches or Core: $20/month charges the contracts, the Over £5000 - Freelancers Premium: following % of platform charges lifetime billing per $45/month commission from 10% of earnings buyer: 3.5% Master: $95/month freelancers: or $5, whichever is Between £250 and For Coaching 20% on the first greater £5000 lifetime Companies $500 For hourly billing per buyer: $95 per month per 10% on additional projects, the 7.5% coach seat earnings over $500 platform charges - Below £250 - 5% on earnings a fee of 10% on lifetime billing per above $10,000 earnings buyer: 20% form a single client Charges from No charges from Standard Fee: 3% Signing up and Payment Customers/Clients customers/clients of the project posting the transaction fee of amount project is free £0.6 + 5% and a For Upwork Plus: Fixed price service fee of 5% $49.99 per month contracts: 3% of for credit card, the project cost or debit card, or a $3 fee electronic (whichever is payment gateway greater) transactions Page 37 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  38. For hourly projects: 3% fee Trial Offered 14 Days No fee for clients 1 Month 3 Months to register on the platform Freelancers are offered free connects initially to submit jobs and are charged after that Target Customers Small business, large Freelancers, Freelancers, Small businesses, enterprises, non- individual individual large enterprises, profit, freelancers, customers and customers and medium and mid-size corporate corporate businesses, business employers employers freelancers Languages English English English, German, English Supported French, Indonesian, Italian, Portuguese, Spanish, Turkish, Filipino, Dutch Unique Selling Advanced features To create an Freelancer.com The platform Point for coaches to account on generally has conducts manage their Upwork, more users as assessment of business effectively freelancers have to freelancers that talents prior to get their account fail to pass enrolling them in approved by the Upwork’s its database, platform, which screening process which established Page 38 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  39. establishes can easily join the authenticity in the authenticity of the platform and marketplace platform as begin work compared to other platforms Range of Projects All coaches All kinds of Short-term and Short-term and projects entry level jobs long-term As the company will provide one single unified and dedicated platform to all sort of coaches to manage their all activities (ranging from scheduling appointment, goal setting, tracking coachee progress, invoicing, and receipt of payment) concerning their coaching practice, hence, presently there is only one direct competitor to XYZ and that is CoachingLoft.com. There is no other direct competitor in the market providing such a single, unified, and dedicating platform to coaching practitioners & coachees. Rather, there are some freelancing sites like Upwork, Toptal, Freelancer.com, Guru.com, PeoplePerHour, etc. which facilitate only in establishing a direct connection between coaching practitioners or freelancers and coachees or businesses. Most of the platforms charge both, the freelancer or coaches and the customers, thereby creating an additional burden on the part of both the parties. Where Freelancer.Com offers various additional add-ons for each of the features to be added to the accounts of users, XYZ will only have 2 types of plans allowing the clients to make efficient use of the platform. Authenticity is the one feature that differentiates Upwork from that of the Freelancer.Com, which is the reason why Upwork is considered more reliable by both the clients and the freelancers. In the same way, XYZ will also check the authenticity of coaches registering on its platform to create a loyal customer base and increase the credibility of the platform. Page 39 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  40. COMPETITIVE ADVANTAGE COMPETITIVE ADVANTAGE Although there are many coaching platform start-ups worldwide, the platform will compete in the market through the founder’s extensive experience in the information technology industry, use of the latest technology solutions, user-friendly web platform and mobile application, AI-based analytics, and focus on providing the authenticated platform for coaches at a reasonable subscription fee. The coaches can register on the platform for free and the company will be charging a fixed fee in the form of subscription plans on a monthly or yearly basis. There would be no hidden charges except for the subscription charges by the platform, thereby enabling the coaches to get the maximum benefit of the online marketplace. Other factors differentiating the platform from its competitors are outlined as follows: One-of-its-kind Unique Platform: At present, no platform allows all kinds of coaches to register on their platforms. The platform will be one-of-its-kind unique coaching platform gathering different types of coaches (arts, sports, pets’ coach, business, life-coach, etc.) on a single platform to connect them to different people looking for professional coaches of their choices capable of meeting the set requirements. The platform will cater to a wide array of coaching segments. The initial MVP (minimum viable product) will focus on a few segments including IT, sports, art & crafts, finance, and pets, but gradually it will cover all types of coaching. In addition to this, the platform will focus only on coaches and coachees. It will not be cluttered with other roles like Analysts, Managers, etc. Easy to Use Web Platform and Application: The Company will design an easy-to-use web interface and mobile application that will allow both coaches and coachees to connect and plan the activities. The AI-powered system of the platform will prepare lists of preferred coaches based on the requirements of individual customers. Coaches will also be facilitated with modern tools and features to enable them to manage their practice effectively. The Company will also be checking the authenticity of the coaches registering on its platform to establish trust in the target market. Flat Subscription-Based Pricing Model: Where most of the freelancing websites like Upwork are charging the freelancers based on a fixed percentage of the commission from their earnings, XYZ will not be deducting the regular commission from the earning of the coaches registered on its platform. Rather, the platform will be charging coaches based on subscription plans selected by them whether on a monthly or yearly basis. This will encourage more coaches to join the company’s platform as they need not forgo part of their earnings Page 40 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  41. each time, they earn revenue through the platform. This type of autonomy offered by the platform to the coaches will create a strong brand name in the market, which will assist it in competing with the established players in the industry. Loyalty Programs: To encourage referrals, the company will be offering loyalty points for coaches for each lead registering on its platform. The coaches will be able to redeem such points while making payments for the subscription plans chosen by them. This will enable the company to widen its customer base without having to spend a heavy amount on other digital marketing strategies. Expansion: While other platforms may be entirely focusing on growing the number of coaches listed with them, XYZ will focus on expanding into allied areas like selling coaching and online courses, which will ultimately widen the revenue base of the company. In line with this aim, XYZ will introduce more options for coaches in the future including providing an online coaching shop to sell coaching gear, books, etc. Employer Benefits: The platform will also allow the businesses and corporates to post their coaching jobs on its platform. They will be provided suggestions regarding the coaches who fit their requirements easing the process of selection of the right coach. The employers will also be able to manage their payments through the platform. Page 41 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  42. MARKETING STRATEGIES MARKETING STRATEGIES Marketing is the key to success for any business, and the online coaching platform industry is not an exception. Although platforms such as CoachingLoft.com, Upwork.com, Freelancer.com, and PeoplePerHour dominate the mass market, there are plenty of opportunities for the company to find its niche and build a loyal coaches base. The marketing strategies of the company would aim to draw coaches to the platform’s platform from the very beginning. To attract potential coaches, the company will introduce attractive offers, along with extensive customer support, all backed by a solid marketing plan which has been outlined as follows: The primary means of marketing will be online through social media channels like Instagram, Facebook, Twitter, & LinkedIn, and analytics-driven approaches like SEO & paid search, in addition to capitalizing on the offline sources including networking and word of mouth. The detailed marketing plan of the company has been outlined as follows: 1.WEBSITE WEBSITE AND MOBILE APPLICATION AND MOBILE APPLICATION DEVELOPMENT DEVELOPMENT: : A website is probably the first point of interaction of a company with its prospective user base. According to research, 80% of people look at websites, when looking for products or services of any company. The platform will build an attractive website for its customers, which will contain all the information regarding the coaches along with options for employers and corporates to create and post their coaching requirements. The Company will Page 42 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  43. regularly update its website content and features to keep itself at the top of search engine results. Updating the web pages regularly will grab more numbers of visitors from the targeted locations and in turn, grow the revenue base of the company. The Company will be creating a mobile application to assist coaches in managing and scheduling the daily work effectively. The mobile application will also allow the coaches to post content, videos, or presentations to showcase their work and keep a record of the payments to be received from different customers at regular intervals. 2.SOCIAL MEDIA SOCIAL MEDIA: : Social media is one of the easiest ways to promote and market in the modern era. Being active on social media will increase brand awareness, help in engaging with potential users, and establish the business as a leader in its target area. The platform will use social media sites like Facebook, LinkedIn, Twitter, Instagram, and YouTube pages to build a community across social networking channels. These sites will be used to share information regarding the additions to the portfolio of services, the latest updates in the coaching industry, and successful use cases of the company’s services. The Company will launch campaigns and contests on social media channels to encourage user-generated images which will then be uploaded to the website and mobile app pages of the company to build a community around its brand and values. §Facebook: here are a total of 2.5 billion monthly active users (54% female and 46% male) on Facebook, which makes it the biggest social network worldwide. The Company will use separate pages for different countries on Facebook, to cater to the varying requirements of the users. It will start with prospecting campaigns on Facebook to bring awareness and then re-engage website visitors by creating additional touchpoints of awareness for those who have yet to convert. It will also regularly update posts on its social media platforms introducing different contests for its users to earn a loyalty bonus that can be redeemed while making payment to the platform. §Instagram: The total number of active monthly Instagram users (56.3% female and 43.7% male) amounts to more than 1 billion people worldwide. 30% of the global Instagram audiences are aged between 18 and 24 years and 35% are aged between 25 and 34 years, which are considered as the potential users of the online coaching platforms, being tech-savvy. The content to be posted on Page 43 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  44. Instagram will revolve around the company’s mission, values, app features, app updates, and direct connections between coaches and coachees. §LinkedIn: There are a total of 675 million (57% male and 43% female) LinkedIn users worldwide as of 2020 with 310 million active monthly users. The platform will create its company page on LinkedIn including full information by the company comprising of the company logo, description, cover page, platform URL, company size, industry, location, mobile app, etc. The Company will keep on posting engaging and valuable content regularly to keep its users updated with the latest changes. §Twitter:The Company will share the addition of new services, the platform features updates, and coaching industry updates with its existing customers and prospects and continue growing its network. §YouTube: There are 2 billion monthly active YouTube users worldwide. The Company will be placing videos concerning types of coaches registered on its platform and satisfied users who have used the platform to hire coaches worldwide to engage more users and coaches to the company’s platform. 3.E E- -MAIL MARKETING MAIL MARKETING: : E-mail marketing has proven to be an effective tool among other successful marketing strategies for directly communicating with the targeted customers. As of 2019, more than half of the world’s population used e-mail. The Company will build an e-mail marketing list and create regular promotional messages targeted towards the coaches worldwide. The messages will be about the introduction of new features to the web platform or mobile app or special discounts, etc. Receiving e-mails from the users and coaches regarding the problems being faced by them will also help the company to improve the features of the web portal and mobile app in the future, which will create a loyal customer base for the company. SEO: More and more coachees are using online searches to find coaches. A well- 4.SEO: crafted SEO strategy will help the company in generating massive “free” traffic from Google and other search engines and help generate visibility for targeted keyword terms like ‘online coaching platform’, ‘hire coach online’, ‘best coach around me’, etc. APP STORE OPTIMIZATION: Optimized app store creatives can increase a business’s 5.APP STORE OPTIMIZATION: conversion rates by up to 40% for both paid and organic traffic. Considering the benefits, the company will be constantly testing its creatives and messaging with Page 44 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  45. target users through App Store Optimization to differentiate its offerings from its competitors. 6.RETARGETING: RETARGETING: More than 90% of web traffic does not take action on their first website visits. The retargeting ads will allow the company to recapture that traffic, by showing ultra-targeted ads only to people who have already visited or performed a specific action on the website. 7.BLOGS: BLOGS: Capturing the attention of coaches and encouraging them to take action is one of the most effective ways of finding new leads online. Blogging is one of the best ways to grow a business and reach out to new people. Posting relevant content regarding updated features of the website and mobile app, important company updates, and recent press releases will help it to boost the company’s online reputation. Posting high-quality and unique blogs will improve the search engine rankings, helping to ensure that more brands and marketing agencies see and visit the website of the company. The content to be posted will be about answering the common questions among coaches and users and help them solve their problems. REFERRAL MARKETING: Word of mouth advertising will help drive a significant 8.REFERRAL MARKETING: increase in inquiries without having to spend heavily on marketing materials or advertising. The platform will introduce a referral bonus program in the form of bonus points to incentivize its existing users and further expand its customer base. Page 45 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  46. SWOT ANALYSIS The industry is growing and evolving, and with that comes many new opportunities as well as threats. They can have both positive as well as negative effects on the business of The platform. These have been highlighted below: Strengths Strengths §The experience and knowledge of the founder in the information technology industry will help in the effective management of business operations. §The Company will use the latest technology to build the web platform and mobile application enhancing the ultimate user experience and follow a cost-effective pricing mechanism (subscription-based) charging only monthly or yearly fees, which in turn will build a loyal customer base for the company. §A highly skilled and professional team; well versed with the latest trends in the information technology industry will assist the company in creating an exceptional user experience and thereby establishing long-term customer relationships. §The business model of the platform is one-of-its-kind that allows all types of coaches to register on its platform. §The Company will use advanced technology and equipment to ensure that the internal processes are completed quickly, securely, and in a cost-effective manner to ensure quality delivery in all areas of work. §As The platform is one single unified and dedicated platform to help the coaching practitioners and coachees, there is no competition in the market at present. §The Company’s strong marketing strategies will help it in gaining substantial share in the market during the initial phase of the business. Weaknesses Weaknesses §Being a new business, it might take some time for the company to break into the market and build a solid customer base. §The struggle to constantly add new features to the web platform and mobile application to stay ahead of the competition. Page 46 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  47. §Low brand awareness initially. §The right talent may hesitate in joining a company during its start-up phase. Opportunities Opportunities §With the growing popularity of smartphones and increasing reliance on custom-made mobile applications, users are increasingly demanding convenient mobile apps and web platforms for searching coaches online. Increased mobile ownership will further contribute to this trend in the future. §Opportunity to collaborate with large employers and corporates to expand the business reach. §Economic uptick and an increase in customer spending due to growing awareness among people to hire coaches is an opportunity for The platform to capture new users and increase its market share. §The Company will spend a vast sum of money on its website and mobile app platform to update the offerings and add additional features. This investment will open a new sales channel for The platform in the next few years. The company will leverage this opportunity by knowing the coaches registered on its platform better and serving their needs using big data analytics. §Increasing employment rate, disposable income, and busy lifestyle will result in a surge in demand for online coaching platforms. §Increased awareness regarding the benefits of coaching may grow the demand for coaches worldwide. Threats Threats §Changes in regulations may impact business performance in the future. §Adoption of technology changes may require huge capital investment on the part of the company. §The rapid growth of coaches worldwide over the last years may cause a massive market over-saturation. §The imposition of social distancing norms post-COVID may impact the demand for in- person coaching services. Page 47 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  48. STRENGTHS STRENGTHS § § § WEAKNESSES WEAKNESSES § Experienced founder Use of latest technology Highly skilled and professional team Use of advanced technology and equipment One single unified and dedicated platform Struggle to add new features initially Low brand awareness New business with no brand recognition in the market Difficulty to onboard employees initially S W § § § § O § T OPPORTUNITIES OPPORTUNITIES § Growing mobile phone ownership and high internet penetration § Opportunity to collaborate with employers and big corporates § Increased awareness of the benefits of coaching § Increased disposable income THREATS THREATS § § Changes in regulations Adoption of the latest technology may require huge capital investment in future Market saturation due to an increased number of coaches The adverse impact of COVID-19 on demand § § Page 48 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

  49. REFERENCES REFERENCES 1 https://brandminds.live/business-coaching-industry-to-top-15-billion-in-2019/ 2 https://brandminds.live/business-coaching-industry-to-top-15-billion-in-2019/ 3 https://coachfederation.org/app/uploads/2020/09/FINAL_ICF_GCS2020_ExecutiveSummary.pdf 4 https://www.statista.com/statistics/831803/worldwide-coaching-average-annual-earnings/ 5 https://radiantcoachesacademy.com/the-coaching-industry-is-growing-fast-4-ways-to-keep-up/ 6 https://datapo.com/news/how-many-companies-are-there-in-the-world/ 7 https://www.statista.com/statistics/738399/size-of-the-global-workplace-training-market/ 8 https://fi.co/insight/melbourne-s-22-best-startup-accelerators-incubators 9 https://www.internetworldstats.com/stats.htm Page 49 BUSINESS PLAN: BUSINESS PLAN: ABC INC ABC INC

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