You must help your clients identify and reach their individual goals as a small coaching business owner. However, being at the helm of your business affairs is quite a daunting task that, if poorly managed, can lead to disorganization, missed targets, loss of profits, and a general decline in efficiency.
This is where you need simple yet great coaching tools that allow you to plan projects, track your goals, have better coaching conversations and overcome challenges faster.
Whether you offer business or life coaching sessions, this article looks at the different problem-solving coaching tools you can adopt. Also, we look at how Bonsai, a powerful tool lets you achieve your business goals faster. Let's get in!
Bonsai is designed explicitly for every small business executive, life coach, and agency to streamline their business and financial activities.
All Bonsai templates can be customized to fit your brand tone and style. Once you are signed up, Bonsai makes it easy to edit, create, and send your invoices and templates to your clients.
Further, it is GDPR compliant and compatible with all internet devices. If you are a coaching service provider, running your business with the Bonsai coaching tool can help you to stand out from other coaches in your industry sufficiently. From allowing easy automation to global payments and other pro features, there is so much to gain from choosing the Bonsai coaching tool. Here are some of them:
Taxes are an important part of every business's financial planning as it enhances the chance of long-term survival.
With the influx of more coaching clients, you can't afford to remain careless and choose to pay taxes in zero hours. Else, your executive coaching business might experience high economic pressure once the year ends. You don't want any of that.
If you have yet to maintain a strong tax strategy by now, it's time to retrace your steps. That is where the Bonsai Tax comes in. Bonsai tax is an online tax management tool that provides customized tax filing alternatives for small coaching businesses. It also lets you file returns early, gets accounts audited, and generally manage your company's finances with no restraints.
Note: If you want a software to scan your bank/credit card receipts to automatically discover potential tax write-offs, try Bonsai Tax today. On average, users save $5,600 from their tax bill. Claim your 14-day free trial here.
In addition to helping your clients develop emotional intelligence, self confidence, self awareness, etc, you want to also properly monitor your expenses and ensure you're not incurring losses along the line.
Using a budget, you can monitor your business's revenue and determine whether it's enough to cater to all the expenses. If you offer business coaching in the present moment, helping your client identify the value of budgeting can help them make better financial decisions.
The aim is to ensure that your income doesn't exceed your expenditure. With Bonsai serving as your business expenses tool, you can:
In your journey to attain unparalleled growth in your coaching practice, you must adopt goal setting as one of the basic principles of success.
Besides giving you a clear focus, motivating your team, and helping you set targets that will encourage expansion, goal setting can also offer you a set of criteria to measure the business's growth.
Goal setting can also provide you with a set of criteria to see if your business is succeeding. This is why implementing one of the best coaching tools for goal-setting, Bonsai is quite essential.
Bonsai is a task management coaching tool that enables independent coaches to align their performance goals with that of the business to increase growth. It doesn't matter if you are a life coach, bonsai can help you with goal visualization and clarity needed to walk your client through their life coaching exercise.
The importance of contracts especially when onboarding a new client cannot be overemphasized; it provides more visibility for the parties involved to meet the specific objectives of the agreement.
Bonsai offers a series of pre-made coaching contract templates that quickens the creation of contracts, proposals, and other documents you need to have smooth life coaching exercises with your client.
Note: Try our legally-reviewed and pre-made coaching agreement templates. They are easily customizable to your business's details and qualifications. Easily edit, send and kickstart a new client relationship today. Claim your 14-day free trial here.
If your coaching exercises involve working with some team members, you need a great coaching tool that ensures successful project management. That way, you can track the coaching process and achieve tasks efficiently.
Thus, using the Bonsai coaching tool can assist you in the organization, planning, and execution of your coaching exercise in a much more reliable manner. The project management tools are basically used to allocate resources, manage time, and, monitor team performance accurately.
Moreover, using Bonsai helps your business to get competitive benefits as it allows you to excel amongst your competitors.
When you prepare an invoice after every coaching exercise, you make your clients feel valued. They also start to consider your small business as one that runs smoothly, hence making them trust you further.
Apparently, the invoicing process can be quite daunting. The good thing is that Bonsai as one of the best coaching tools for invoicing has several features to help you tackle this herculean task.
With this coaching tool, you can automatically generate invoices based on proposals submitted to clients. This makes the process a whole lot easier and you can easily edit the generated invoice before sending it to your clients.
Also, you receive a notification when clients check your invoices. you can automatically generate invoices based on proposals submitted to clients. This makes the process a whole lot easier and you can easily edit the generated invoice before sending it to your clients. Via this, they can let you know when you should be expecting payment.
To wrap it up, Bonsai correctly monitors each invoice, checking that they have all been paid. In case of delayed payment, the app automatically follows up with the client and reminds them.
Note: try our customizable invoice templates for coaches. Simply edit, customize, personalize a pre-made professional looking document, and send it off to your clients. Our software lets you set up recurring invoices and partial payment requests. Claim your 14-day free trial here.
Like many coaches that are successful, it’s important that you prioritize your time, especially if you are dealing with multiple projects at once. Now, while you must have come across several time-tracking project tools, using Bonsai can take your experience from zero to a hundred in a blink of an eye.
Bonsai automates the whole time tracking process by integrating with your invoicing tool and recording the total number of hours you spent on each project. It also calculates your unpaid hours, generates a quick invoice, and sends them to your client.
Note: try our time tracking software today. Bonsai automatically records your hours for tasks in the background while you work online so it would not hurt your productivity. Try a 14-day free trial and records how long it takes you do tasks today.
The recurring system of payment is often convenient for both you and your clients. It improves client experience by minimizing the struggles that accompany repeated or delayed manual payments.
Do you offer life coaching or business coaching program? then you should ignore all the coaching tools you've seen and focus on Bonsai. You can set up a recurring payment on Bonsai. Doing this ultimately signals Bonsai to send your clients unpaid invoices at the end of every month.
In all, the recurring payment feature on Bonsai increases the possibility of you having stable cash flow in your business.
After generating leads, you want to capture the prospects and turn them into real clients. Luckily, Bonsai provides a contact form where potential clients can fill in their details and easily reach out to you for new gigs.
What's more, you are welcomed to customize the look and feel of the form to fit your personal taste. You can attach the contact link to your portfolio so any one that comes across it can easily access you.
There are up to six different pre-made templates that you can use to create proposals for your business.
All you need to do is quick set up, tweak with your preferred content and send across to your client.
Once you're done with customizing and editing your proposals, you can send it either through email, link, or PDF.
By now, you should know that the best coaches do not come by chance; the right coaching tool can foster accountability, create clarity needed to reach your client goals, challenge perspectives, and improve coach client relationship.
If you are still wondering whether the Bonsai coaching tool is worth investing in, here are a few reasons why it is such a great idea:
With Bonsai, it is easy to set your priorities right, hence preventing your work from being a major part of your personal life. It motivates you to build hobbies out of your working hours. That way, you and your team can gain more satisfaction from work and life respectively.
Simply put, integrating Bonsai leads to improved self care as you work towards your goal achievement.
Your team members are part of the largest resource you will have while running your coaching company.
Since the project team will majorly consist of individuals who probably have other commitments, you want to make sure that they are available to do your tasks when needed. How can you achieve this? through proper project planning, of course.
Employing Bonsai as your resource tool can help you monitor project phases and prevent delays. At the end of the day, you get to save more time and money.
Undoubtedly, the bedrock of every successful project starts from its planning phase. During this phase, you must define your:
This keeps you from slowing down on the project. Although you might be tempted to dive straight in, planning your coaching projects with Bonsai ensures that you effectively carry out tasks according to your client's initial requirements.
Once there is no strong communication structure, the likelihood of your project plans coming to actualization will be low. So, if you expect to get the best from a coaching project, you must ensure that the communication channel between you, your team, and clients is as effective as possible; that will determine the project's performance.
As a project manager, you must ensure that every team member has a common goal and is willing to channel their energies into seeing it work.
Bonsai makes communication simpler by allowing you to manage everything regarding your coaching projects on one platform. With everyone being on the same platform as you, the overall efficiency and productivity of the entire project will be highly improved.
How often do your clients return after using your coaching service the first time? your answer will determine if you are doing everything right or not.
To retain each client that registers to use your coaching service, you need to ensure that you provide them with nothing but premium quality services. Other than that, Bonsai enables you to run your coaching projects in a manner that only focuses on quality. This would leave your clients feeling happy and satisfied at the end of the day, making them return with better business deals in the future.
Also, a happy client would naturally think and refer your business to other potential customers when needed. What other business strategy is better than word-of-mouth marketing?
Planning with Bonsai signifies that you are aware of the possible risks that may occur while the coaching project is going on. Bonsai typically prepares you to tackle any emergency that may impact your project negatively.
Lastly, your team continues to gain increased morale with tons of efficiency, which would come from managing projects with Bonsai.
Any coach that wants always to be ahead of the competition and remain relevant for a long time will certainly need the right coaching tool. If you are searching for simple software that will guide you and your team towards reaching the business's goals faster, then Bonsai is your best bet! What are you waiting for? Sign up now to begin your free trial.
A verbal contract (formally called an oral contract) refers to an agreement between two parties that's made —you guessed it— verbally.
Formal contracts, like those between an employee and an employer, are typically written down. However, some professional transactions take place based on verbally agreed terms.
Freelancers are a good example of this. Often, freelancers will take on projects having agreed on the terms and payment via the phone, or an email. Unfortunately, sometimes clients don't pull through on their agreements, and hardworking freelancers can find themselves out of pocket and wondering whether a legal battle is worth all the hassle.
The main differences between written and oral contracts are that the former is signed and documented, whereas the latter is solely attributed to verbal communication.
Verbal contracts are a bit of a gray area for most people unfamiliar with contract law —which is most of us, right?— due to the fact that there's no physical evidence to support the claims made by the implemented parties.
For any contract (written or verbal) to be binding, there are four major elements which need to be in place. The crucial elements of a contract are as follows:
Therefore, an oral agreement has legal validity if all of these elements are present. However, verbal contracts can be difficult to enforce in a court of law. In the next section, we take a look at how oral agreements hold up in court.
Most business professionals are wary of entering into contracts orally because they can difficult to enforce in the face of the law.
If an oral contract is brought in front of a court of law, there is increased risk of one party (or both!) lying about the initial terms of the agreement. This is problematic for the court, as there's no unbiased way to conclude the case; often, this will result in the case being disregarded. Moreover, it can be difficult to outline contract defects if it's not in writing.
That being said, there are plenty of situations where enforceable contracts do not need to be written or spoken, they're simply implied. For instance, when you buy milk from a store, you give something in exchange for something else and enter into an implied contract, in this case - money is exchanged for goods.
There are some types of contracts which must be in writing.
The Statute of Frauds is a legal statute which states that certain kinds of contracts must be executed in writing and signed by the parties involved. The Statute of Frauds has been adopted in almost all U.S states, and requires a written contract for the following purposes:
Typically, a court of law won't enforce an oral agreement in any of these circumstances under the statute. Instead, a written document is required to make the contract enforceable.
Contract law is generally doesn't favor contracts agreed upon verbally. A verbal agreement is difficult to prove, and can be used by those intent on committing fraud. For that reason, it's always best to put any agreements in writing and ensure all parties have fully understood and consented to signing.
Verbal agreements can be proven with actions in the absence of physical documentation. Any oral promise to provide the sale of goods or perform a service that you agreed to counts as a valid contract. So, when facing a court of law, what evidence can you provide to enforce a verbal agreement?
Unfortunately, without solid proof, it may be difficult to convince a court of the legality of an oral contract. Without witnesses to testify to the oral agreement taking place or other forms of evidence, oral contracts won't stand up in court. Instead, it becomes a matter of "he-said-she-said" - which legal professionals definitely don't have time for!
If you were to enter into a verbal contract, it's recommended to follow up with an email or a letter confirming the offer, the terms of the agreement , and payment conditions. The more you can document the elements of a contract, the better your chances of legally enforcing a oral contract.
Another option is to make a recording of the conversation where the agreement is verbalized. This can be used to support your claims in the absence of a written agreement. However, it's always best to gain the permission of the other involved parties before hitting record.
Fundamentally, most verbal agreements are legally valid as long as they meet all the requirements for a contract. However, if you were to go to court over one party not fulfilling the terms of the contract, proving that the interaction took place can be extremely taxing.
So, ultimately, the question is: written or verbal agreements?
Any good lawyer, contract law firm, or legal professional would advise you to make sure you formalize any professional agreement with a written agreement. Written contracts provide a secure testament to the conditions that were agreed and signed by the two parties involved. If it comes to it, a physical contract is much easier to eviden in legal circumstances.
Freelancers, in particular, should be aware of the extra security that digital contracts may provide. Many people choose to stick to executing contracts verbally because they're not sure how to write a contract, or they think writing out the contract terms is too complicated or requires expensive legal advice. However, this is no longer the case.
Today, we have a world of resources available at our fingertips. The internet is a treasure trove of invaluable information, platforms, and software that simplifies our lives. Creating, signing, and sending contracts has never been easier. What's more, you don't have to rely on a hiring a lawyer to explain all that legal jargon anymore.
There are plenty of tools available online for freelancers to use for guidance when drafting digital contracts. Tools like Bonsai provide a range of customizable, vetted contract templates for all kinds of freelance professionals. No matter what industry you're operating in, Bonsai has a professional template to offer.
A written contract makes the agreement much easier to prove the terms of the agreement in case something were to go awry. The two parties involved can rest assured that they're legal rights are protected, and the terms of the contract are sufficiently documented. Plus, it provides both parties with peace of mind to focus on the tasks at hand.
Bonsai's product suite for freelancers allows users to make contracts from scratch, or using professional templates, and sign them using an online signature maker.
With Bonsai, you can streamline and automate all of the boring back-office tasks that come with being a freelancer. From creating proposals that clients can't say no to, to sealing the deal with a professional contract - Bonsai will revolutionize the way you do business as a freelancer.
Why not secure your business today and sign up for a free trial?