SYNERGY LtdA BUSINESS PLAN FOR ESTABLISHING A B.docx

SYNERGY Ltd:
A BUSINESS PLAN FOR ESTABLISHING A BUSINESS
COACHING COMPANY
Atakan Atasci
Cambridge College

Abstract
One purpose of this coaching business study was to examine
literature on the process, benefits and cost of business coaching.
A market analysis of coaching in Turkey was also done. The
goal was to create a business plan emphasizing service quality,
strategy, financial possibilities and market analysis as well as to
check the impact of the Turkish market on the business.
Business coaching supports individuals or groups that are
mostly lack clarity about the aims and objectives in their
careers, jobs and organizations. The underlying reason for
coaching is to find problems and improve the clients’ skills in
overcoming challenges. The paper culminates in a business plan
for establishing a business coaching company. The goal of this
business plan is to gather detailed data by using coaching
literature and Turkish market analysis, and implementing them
into a business plan for Synergy Ltd.
Introduction for Synergy Ltd Business Plan
This project is a business plan to establish a business coaching
company in Istanbul, Turkey. It aims to temporarily support
small and middle-sized companies to increase their potential,
especially in export and import. Therefore, this project will be
all about creating a coaching company that guides organizations
in areas of management and developing business relationships.
In order to understand the capacity and potential of business
coaching in Turkey, there will be a survey that evaluates
business coaching experiences and the experiences of workers
who have had coaching. The company will be called Synergy
Ltd.

An expert coach, Patricia Clason(2001), stated that “A Business
Coach is a professionally trained coach with a background in
small business issues who oversees, assists and guides you—the
small business owner—in developing, starting, and growing
your small business. The Business coach helps you clarify your
business goals and objectives and helps you develop the skills
and acquire the resources needed to operate a successful
enterprise”.
Clason(2001) said that a business coach might meet you
regularly, either in person or over the phone or by using the
resources of the internet to argue the existing and future
business and life issues that might be challenging. Clason also
stated that having meetings on a regular basis keeps clients on
track and help them move forward.
Also, Patricia Clason classified the fields that Business Coaches
generally works in three categories. She explained General
Planning as: business coach works with you on stabilizing and
developing your Strategic Planning, Marketing, and Promotional
Planning, Financial Management and Planning, and General
Administration and Personnel issues.
Clason(2001) explained Marketing and Promotional Planning
as: Business Coach specializes in helping you develop and
implement your Promotional Action Plan, Advertising Plan, and
Public Relations plan. Finally, Financial Planning explained by
Clason(2001) as well as: Business Coach specializes in helping
you understand Financial Statements, Cash Flow Management,
Pricing Strategies, and Employee Compensation plans.
However, this Business Coach is not a tax advisor.
In this business plan, business coaching means that guiding
small and middle-sized companies to develop their strategic
planning, marketing, and promotional planning and map out
their promotional activities and advertising plans in order to
increase their marketing and sales activities.

This business plan will include business coaching summarizing
experts’ views on the benefits of coaching individuals and
companies based on the client’s perspectives; the cost to clients
of needed changes and relationships management such as coping
with resistance from workers in the organization.
Background
The world has become a place where people are able to get any
kind of their needs met from overseas in a short period of time
since social media has exploded and started to be used by
everyone. People are now aware of what is going on thousands
of miles away from where they live. This gives a chance to
countries to develop their economies by using media tools. It is
much easier than before for the companies to get into foreign
markets. Since people demand foreign brands, it increases the
volume of export and import. Therefore, economic conditions of
countries have started to depend on their volume of export and
import. Turkey, as other countries, has regulated some ground
rules to support the export-import process.
Nazlioglu(2013) reports that Republic of Turkey has started to
promote export companies since the 1980s. In order to integrate
with the world economy, the trade-oriented growth strategy and
liberalization of its economy started to practice. Every year, by
the new economic development plan, new regulations of export
incentives are announced. Although most of the regulations
remain the same, there are always new ones that companies
have to follow. The same thing applies to the import process.
Every year, some import rules are changed accordingly the need
of industries. Most of the companies have issues following the
new rules. Therefore, the export- import industry itself creates
its own specialty and there are people that work with companies
as an import-export specialist. However, in order to help
companies within the scope of international business, skills and
knowledge of import-export specialists on the basis of custom

regulations are not enough to coach companies to boost their
sales and profits. For this reason, for the past several decades,
business or executive coaching has had an important place in
Turkey.
Especially for companies, those are willing to take their import-
export business to a professional level, getting external advice
on the complete strategy and know-how about import-export,
have become an essential resource. These needs of the market
increase the demand for business coaching, who have
experiences in business combined with skills in communication
and knowledge of management. These companies’ needs can
increase the success potential of this business plan.
Historical Context
According to Smith(2008), the first ‘coach’ term was developed
in the 1500s referring to “a horse-drawn carriage” in a small
Hungarian town of Kócs. “In the mid-1850s, the word was
started to use in English- speaking universities and the meaning
of the word became to refer a person who got students prepared
for the exams.” Considering the history and the current
literature of coaching functioning, especially business
development, all the practices began in the late twentieth
century.
Smith(2008) stated that, workplace and business coaching are
subjects that have been recently developed. In the earliest time
of development in the coaching industry, the activity of
coaching was called“development counseling”. Most of the
coaches had a background of psychology and professionals who
concentrated on organizational development.
Smith(2008) writes that, from the beginning of the 1980s, the
practice of coaching was experienced growth and increased its
extent in life, leadership, career coaching, and other
applications. Because of increased downsizing, merging, and

finding new employees in organizations, the coaching industry
developed more rapidly. Leaders had to deal with the
uncertainties and pressures on the employees.
Smith(2008) believes, from 1995, business and other types of
coaching related to employee issues continued to develop. The
number of studies devoted to the coaching field increased day
by day. A new world that contains intense competition required
to get professional help. Thus, the need for people who can
show the way to solution caused to expand the number of new
coaching organizations and certification programs (Smith,
2008).
Tulpa and Bresser(2009) adds, similarly, the development in the
global coaching business, business coaching has also started to
develop in Turkey. Unfortunately, there is still no defined best
practice for the meeting business coaching needs according to
the Turkish culture. Topics such as sex, religion, and politics
are very sensitive in the Turkish culture and therefore these
topics are taboos to discuss during coaching sessions. This fact
leads to the result that the relationship between coach and client
can only be discussed on limited topics, which makes the
coaching in Turkey slide to the more educational side.
According to Tulpa and Bresser’s observations in Turkey,
managers are not open to being criticized and therefore they are
looking for developing the way they are working, rather than
changing on their negative habits or features. The effects of
Turkish culture pushed the coaching industry to focus more on
the training and consulting side. This situation is also valid for
the import and export business field.
Language barrier and low educational level have prevented
business owners from developing professional strategies and
being able to use the latest technologies in the world. Therefore,
there is an essential need for external professional support. The
executives and managers might not change their way of

communication and how they are managing their employees: on
the other side, there is a rising tendency for them to get external
support regarding the company’s strategy and processes.
Literature Review
Hemingway(2002) explained business coach as, the person who
helps people advance their performance and their skills to carry
out the organization’s plan rather than management consultants
or group training programs, business coaching is into
companies’ success through employees’ improvement.
Business Coaching Process
The process business coaches usually follow is a
GROW(Goal,Reality,Options,Will) model which was stated by
Passmore (2010). Although there are many claims to authorship
of GROW model, originator has not been able to be identified.
According to Passmore, all the process of coaching is about
GROW model and direct their efforts accordingly
Process
Questions
Goal
What do you want?
Reality
What is happening now?
Options
What could you do?
Will
What will you do?
(Passmore, 2010).
With this process, companies have chance to set their goals,
create appropriate strategies. Coaches will help companies to

follow through what they built and measure results of the
process. The Grow model is formable and it gives a chance to
go backwards and forwards through it four aspects within a
session (Passmore, 2010).
Ives(2008) claims business coaching reflects multiple
perspectives and aspects, a humanist perspective, a behavior
based approach, an adult-development approach, a cognitive
approach, an adult learning approach, a positive psychology
approach, an adventure-based approach, a systemic approach
and goal-oriented approach are the main perspectives and
approaches. Since business coaching covers multiple
perspectives and approaches, it provides the opportunity to
develop the employees of a company in multiple ways.
Companies that use external coaching -business coaching- have
internal coaches. The main reason for that is coaching every
individual in a company externally will create high costs and
require more time. Therefore, most often companies use the
external business coaches for getting the know-how into the
company. After the know-how gets into the company, it is
important that it is maintained in the company and can be
transferred to the employees in the long term. According to
Ellinger(2008), establishing a company working structure and
being less dependent on individual employees is possible
through implementing manuals for requirements of different
departments, well defined processes and training materials that
explains all processes and manuals. This will lead to
standardization in training and makes the application of
coaching easier.

Benefits of Business Coaching
Business coaching can develop a person in many different ways.
According to Grant(2006) “coaching is a goal-oriented,
solution-focused process”, which indicates that one of the main
expectations of business coaching is to increase
performance.Gallwey and Whitmore have noted that the
performance of a company or employee correlates according to
the difference between the potential of the company/employee
and the disturbance, which is exactly what business coaching
focuses on. According to Leedham(2005), by analyzing and
coaching the company, the coach finds out the obstacles of a
company that blocks the company from reaching its potential
and removes them.
Brumwell and Reynolds reports, different approaches of
companies have proven that with successful coaching strategies,
the performance of the company increases. British
Telecommunications increased its productivity and capacity on
average by 11.2 % with an external business coaching program.
Brumwell and Reynolds indicated that the company saved 40
million US$ by using an external coaching program that focuses
on work-life balance.
In another example, given by Parker-Wokins(2006), Booz
Allen’s Center has implemented a coaching program and
gathered 700% return on investment (ROI) through increasing
their ability to build, develop and contribute to high performing
teams. This has also developed the business relationships
between Booz Allen’s Center and its clients.
Whitey(2006) agreed that,Just as these examples show, business
coaching has an increasing trend due to the positive results and
convincing cases. It is very attractive for companies who want
to increase their performance through talented employees who

are able to adapt to the dynamic market requirements.
Increase in Motivation
Motivating employees can be a different task for every
corporation. Even if the employees are paid well, treated fairly
and work a reasonable number of hours, there are still many
situations and conditions that may decrease the motivation of
the employees. According to Wiley (1997) and Lindner (1998),
motivation is very dynamic and may change in different
occasions at any time. They say that in order to keep the
motivation positive and even increase it, one of the most
important factors is the relationship with colleagues, co-workers
and supervisors.
Because relationships are so important at work, business
coaching becomes a very fundamental need for every company.
Wiley also indicated that by increasing the know-how in the
company and improving the corporate culture, the employees
and supervisors will be enabled to work together and
communicate with each other more effectively.
According to Knight(2007), healthy communication and
structured working culture will clarify the expectations of the
employees and all employees will know what to do and how to
do their tasks. Longnecker(2010) argues that, by coaching the
employees and investing in their self-improvement, the
company will help adapting the company and will make the
employees feel like owners. According to Longenecker Feeling
ownership of the company and adapting to the company culture
will make the employees more interested in the company and
they want to work more productively.
Benabou and Tirole(2003) points out, the emotions of

employees may change from time to time and managing these
emotions is a difficult challenge for every supervisor on the
other hand, business coaching targets mainly the know-how and
soft skills of the employee that is coached. Having successful
business coaching will result in more know-how, which will
increase self-confidence. Benabou and Tirole also say that the
communication to the employees will be more professional and
qualitative, which will increase a supervisor’s capability of
motivating the employees.
Longnecker adds that, the employees can motivate themselves
or they can be motivated by their supervisors. No matter which
hierarchical level is targeted in business coaching, it will have a
positive effect on motivation. According to Benabou and
Tirole(2003), depending on, which hierarchical level is coached
in the business, the motivation can be caused through the
supervisor or the employees and in the end, at both situations
the motivation will increase.
The Cost of Coaching
According to Bullock(2003), after analyzing the benefits of
coaching, the market field provides significant improvement for
staff, sales and organizations. However, there is another reality,
which is the cost of coaching for companies that hire coaches,
sometimes paying a large amount of money and time.
Simultaneously, hiring a coaching staff will bring a stronger
commitment in the organization. Nevertheless, the cost of a
business coach is greatly exceeded in value by the benefits.
Bullock talked about an example of successful coaching for a
company. She interviewed partners of a company located in
Australia in order to understand whether coaching is worth
consuming time and money.
Parker Wilkins (2006) agreed about, how valuable coaching
was. In both articles, companies had almost the same situation
and they both hired coaches. Eventually, the business coaches

helped to increase companies’ profit dramatically and created a
better work environment which everybody including the owners
enjoys.
Bullock(2003) emphasized that the company that he studied had
a significant decrease in sales and hiring a coach who would
come once in a while and cost a lot might seem to the owners
just another expense that they would have to bear. Nevertheless,
the company hired and it helped them not only increase the
profit but also arrange the day-to-day works and map out
company’s strategy.
Another study about cost of coaching as a long term investment
was conducted by Anderson and MetrixGlobal in 2001. The
study looked for the value that coaching might add to the
business and the returns of coaching investment. Participants
were chosen among potential leaders and executives from two
different countries: The United States and Mexico. Results were
as below:
· 77% of responses were about coaching’s significant or very
significant influence on at least one business out of nine.
· 66% of these 77% responses specified the significant influence
as financial benefits of their coaching.
· The productivity increase was 60%.
· Employee satisfaction and customer satisfaction increases
were at the same level of 53%.
· Work output was the cited result as being importantly
influenced and the rate was 30%.
· Work quality was another high rated outcome which was 40%
Anderson and MetrixGlobal reports the study was terminated, as
“the coaching process produced a 788% return on investment.
Excluding the benefits from employee retention, a 529% return
on investment was produced” (Anderson & MetrixGlobal, 2001,
p.4).

Business Plan
Overview
The company name will be Synergy Ltd. It will be founded as a
coaching company, and will specialize on business coaching. It
will be established in 2019 as a coaching company that will
provide management and business solutions for international
trade companies. Synergy Ltd will be located in Istanbul,
Turkey. The company will seek startup capital of $200,000 to
begin operating. The company will be delivering management
and business (export-import) solutions by 2019. These
management and business solutions will be delivered according
to companies’ issues, so every solution will be designed
individually and will have its own time schedule. The company
will aim to provide its management and business solutions for
middle-sized businesses in the industry during the first three
years. Eventually, when the company proves itself in the
industry, it plans to be a permanent consultant to several large-
sized companies.
Mission and Vision
The company’s vision is to help businesses until clients reach
the level where their potential meets at. Having this vision,
Synergy indicates the one of the most important company values
is as to be reliable and successful partner of its clients.
Combining Synergy’s core values and its vision, the mission of
Synergy will be: Always be committed to creating a path to
increase efficiency and effectiveness and to contributing
constructively to the professional and personal development of

people and the organizations that employ them to create better
lives.
Goals and Objectives
Synergy Ltd will be specialized in business coaching in its first
five years. It will focus on increasing its clients’ sales, either by
decreasing costs of import or helping to find export customers.
In order to accomplish these desired objectives, heads of sales,
marketing, purchasing departments and owners of companies
will be assisted and guided very closely. Strategic planning will
be one of the most important processes of business coaching,
which means that every detail of targeted goals will be
discussed and tracked with responsible departments. Synergy
Ltd will consider any business agreement as a project, within
limits on time and budget. There will be key areas of focus for
Synergy Ltd within business development coaching and
consulting, including training, guiding, providing management
andbusiness development and solutions eventually
implementation. On the other hand, Synergy will support its
clients with custom regulations for each of the goods that are
exported or imported. In addition, Synergy will be able to find
potential customers or get potential customers prepared for
sales or purchase. In brief, Synergy Ltd will use its experience
in international trade to help their clients to solve their
problems and difficulties.
Products and ServicesSynergy Ltd aims to help organizations by
servicing;
- Management and Business Relationships Development
Coaching
- Professional Support
- Strategy Management
Synergy offers its clients development in management and

business relations, additionally professional support in export-
import process and strategy management.
1.According to Ha’kanssin and Snehota(1995), management and
Business Relationships Development Coaching: Companies need
to exchange complex and important information with their
partners. Therefore, communication in business is a vital to
coordination. In another words, helping companies to have the
ability to build strong communication channels means that they
can bring additional value to their business. So, Synergy aims to
improve business relationships between suppliers and their
clients through enhancing communication.
2. General Planning: Synergy works with its clients on
supporting and improving its clients’ strategic planning,
marketing and promotional planning, financial management and
financial planning.
3.Marketing and Promotional Planning: Synergy pursues in
helping its clients
advance and achieve the promotional action plan, advertising
plan, and Public Relations plan.
4. Professional Support: This coaching provides technical
information in the export and import process by preparing
necessary documents for customs. Synergy will also provide
training sessions to workers in organizations, since Synergy’s
essential aim is to create an environment where organizations
will eventually sustain any implementation without Synergy
support.
5. Strategic Management: Since most companies lack a clear
definition of their strategy, Synergy Ltd will offer this
specialized form on coaching. According to different sources,
the failure rate on implementation of strategies is between 60
and 90 percent (Kaplan and Norton, 2005). Small and mid-sized
companies in Turkey will need to be supported on this point.
Synergy coaching aims to advice on organizational priorities,

emphasize on energy and resources, reinforce operations,
guarantee that employees and other shareholders are able to
work toward mutual goals and create agreement around
envisioned outcomes or results. Therefore, Synergy will
understand companies’ goals and objectives and accordingly
create strategies that are monitored, analyzed and implemented.
Marketing
After the foundation in 1995 of the International coaching
federation (ICF) (ICF, 2015), coaching has started to make its
way into the Turkish market. The ICF (2015) is accrediting and
certifying individual coaches and coaching companies, which
makes it possible to differentiate professional coaches from
uneducated coaches. The well-known coaching companies that
are active in Turkey are using the certificates and accreditations
of ICF. According to research made by ICF, market share and
some other significant information in professional coaching are
as below;
§ 80% of coaches in Turkey are women
§ Ages of 86% of coaches in Turkey are more than 36
§ 46% of coaches in Turkey work for companies
§ Companies that already work with coaches have more than
3000 employees.
The keys of our strategy are:
- To put forward solutions that are required by customers
- To guarantee all of the resolutions have cost-effective
considerations built into the individual forms.
- In order to avoid the situation that our customers will chose
another coachingsupport; we will establish strong relationships
with our customers.
- For competing with well-known brands, one of our key
strategies is to increase the brand value.
- We will focus on different marketing activities depending on
the sales channel such as TV, magazine

Company Target
There is an enormous opportunity to offer business coaching
services to the small and mid-sized companies in Turkey. The
owners of companies in Turkey typically start their business
because they have strong technical skills or interest. However,
having strong skills or constant interest is not something that
can be turned into profit. This is where Synergy will help those
companies to find their problems and implement right solutions.
In a brief description, the prospective target companies for
Synergy are located in Istanbul, Turkey of Synergy are small
and mid-sized, having between 5 and 70 employees, dealing
with export or import.
Competition
The first business coaching companies in Turkey were
established in 1997. Altinsoy(2015) reports that, the Turkish
coaching market is about 10 million US $, and is growing every
year. According to Altinsoy, last year about 4500-5000 people
had coaching. The separation of different coaching fields is
currently unknown.
Key facts of the Turkish coaching market were analyzed by ICF
Turkey among their members. According to the research of ICF
Turkey, 85% of the coaches have a business experience over 11
years. 94.3 % of the coaches are providing individual coaching,
54.7% provide team coaching and 60.4% are providing business
coaching. The average coaching experience is 619 hour per
individual coach and the average coaching experience with an
accreditation of ICF is 206 hours. The average coaching price is
100 USD per hour.
In the business coaching market of Turkey are local companies
and branches of international companies active. The first
companies that are active since 1997 and are accredited from
ICF are Ozgur Kasifler business coaching, Indigo business

coaching and Dale Carnegie business coaching. 2 newly
established companies are Sapka Consulting and Action
coaching Turkey. Other than these companies, individual
business coaches are also active in the Turkish business
coaching market.
Ozgur Kasifler business coaching (Information retrieved from
company website): The company has been established in 1997
and has 8 business coaches. Ozgur Kasifler business coaching
has over 100 references in different industries such as,
construction, health, textile, retail, furniture, automotive. Ozgur
Kasifler business coaching has mostly supported small
businesses.
Dale Carnegie Turkey (Information retrieved from company
website): Dale Carnegie Turkey is a branch of the global
company Dale Carnegie. The company has been established in
1997 and has 26 business coaches in the company. The company
has references of industries such as finance, banking,
electronics, education, industrial and chemical products, energy,
food and beverage, service, pharmaceutical, production,
information technology, production, construction, logistics and
sea transportation, media, automotive, marketing, retail,
insurance, tourism. The global Dale Carnegie has coached
companies such as BMW, AT&T, Mercedes, Harvard University
and Wal-Mart. Dale Carnegie Turkey gave trainings over 20.000
days and has supported the career of over 200.000
professionals.
Sapka Consulting (Information retrieved from company
website): Sapka consulting is a newly established company and
has 6 business coaches. The references of the company are
currently unknown.
Action Coaching Turkey (Information retrieved from company
website): Action coaching Turkey is a newly established
company and is a branch of the American company Action
coaching. Their target is to have 200 clients in Turkey and they
want to increase the number of coaches they have. Their main
focus is small businesses.

In the market are both multinational and local competitors. The
coaching market projections of Altinsoy (2015) indicate that
there is a potential for significant growth in the market, which
may increase the attractiveness of the market and therefore the
number of competitors.
Marketing Plan
Since the services Synergy offers fits in many organizations’
needs, we need to reach out as many current, potential and lost
customers as we can. The promotion plan for Synergy Ltd is to
launch an event and to use the internet (emails, Google banners,
Social Media)
With every information request from either domestic or
international markets, we are going to send mugs, pens and so
on promotional items to advertise the product efficiently.
The keys of our strategy are:
- To put forward solutions that are required by customers
- To guarantee all of the resolutions have cost-effective
considerations built into the individual forms.
- In order to avoid the situation that our customers will chose
another coachingsupport; we will establish strong relationships
with our customers.
- For competing with well-known brands, one of our key
strategies is to increase the brand value.
- We will focus on different marketing activities depending on
the sales channel such as TV, magazine
- For the domestic market, we launch an event and invite our
dealerships and customers. We only reserve 7% share out of
100%. We will let prospect and lost ones by email, phone calls,
and brochure, promotional items (pen, notebook, mug and flag).
- The most share by 40%, we plan to reserve is for Web Media.
Web media will contain web advertisements, web site, blogs and
social media.

- Billboards will be used to catch customers of our local
customers.
- By sending emails to current, potential and lost customers
with company flayer(every detail about services will be seen in
the email.), we plan to create the sense of‘inquire or buy’
Organizational Structure
Synergy Ltd is an individual proprietorship that will be run and
managed by the owner, Atakan Atasci. All accounting duties
will be contracted out. Any additional help needed will be
acquired on a subcontract basis.
Atakan Atasci is a business coach who has a bachelor's degree
in International Trade from Celal Bayar University and another
bachelor’s degree in Business Management from Cambridge
College in the United States. Any full time staff won’t be
planned to be hired at Synergy Ltd for at least two years. If
additional staff for the completion of client contracts will be
needed, they will be hired on a subcontract for minimizing the
labor cost.
Pricing
The price of services that Synergy Ltd frames its services under
general planning, marketing and promotional planning and
professional support highly depends on the case-type. The
service of professional support provides the clients with
knowledge on export-import procedure and cost saving
programs. General planning, marketing and promotional
planningservices depend on clients’ needs. However,
positioning the price, Synergy Ltd will mostly consider its
strengths and weaknesses.
MLM (multi-level marketing)
B2B - Business to Business: cost + profit among 17% - 45%
The price is very changeable according to sizes or even location
of organizations. That is why, it is logical to keep the price
between percentages. The price strategy is based on penetration
pricing and cost plus pricing. Since Synergy Ltd is a new and
very small company, we like to have its advantages by using the

lower pric
Proposed Location
Turkey is a country willing to increase its export rate by 2023,
explained by the president of Turkey and the Turkish
government is already ready to support companies that are able
to do exports. On the other hand, the Turkish government calls
for foreign investors to do businesses in Turkey with low rate of
cost and high rate of return in investment. These two main
reasons make Turkey for investors such a good opportunity.
Therefore, Synergy will focus on firstly potential customers in
Turkey. As Synergy Ltd has good references from companies in
Turkey, we will consider European and Middle East regions as a
second priority. Eventually, expanding business to other regions
will be an essential aim of Synergy Ltd
Our priority areas are:
- Turkey
- East and Middle European countries
- Middle East countries
- North African Countries
- Russian Spoken Countries
Financial Projections
Synergy Ltd Income Statement in 2020

Income statement prepared based on to seek turnover in amount
of $200,000 by 2020
Annual Totals
Revenue
Business Coaching
$200,000
Total Revenue
$200,000
Cost of Goods Sold
Business Coaching
$10,000
Total Cost of Goods Sold
$10,000
Gross Profit
$190,000
Payroll
$112,254
Operating Expenses
Advertising
$7,500
Commissions and Fees
$-
Contract Labor(Not included in Payroll)
$-
Insurance (other than health)
$1,368
Legal and Professional Services
$2,904
Licences
$1,248
Office Expense (in Istanbul)

$324
Rent or Lease
$3,900
Miscellaneous
$180
Total Operating Expenses
17,424
Income (Before Other Expenses)
$35,322
Other Expenses
Amortized Start-Up Expenses
$6,847
Credit Card Debt
$1,290
Total Other Expenses
8,137
Net Income Before Tax
$52,185
Income Tax
$18,000
Net Profit/Loss
$34,185
Sales Forecast
Product Lines
Unit
Sales Price Per Unit
COGS Per Unit
Margin Per Unit
Business Coaching
1000
$200,000
$10,00

$190,000
Product Lines
Annual Totals
Category Breakdown
Business Coaching
1000 Sold
$1,000
Total Sales
$200,000
100.0%
Total CoGS
$10,000
5.0%
Total Margin
$190,000
95.0%
First Year Operating Expenses
Operating Expenses
Advertising
$7,500
Commissions and Fees
$130
Contract Labor(Not included in Payroll)
$150
Insurance (other than health)
$1,368
Legal and Professional Services
$2,904

Licences
$1,248
Office Expense (in Istanbul)
$324
Rent or Lease
$2000
Miscellaneous
$180
Total Operating Expenses
15,804
Income (Before Other Expenses)
$35,322
Other Expenses
Amortized Start-Up Expenses
$6,847
Credit Card Debt
$1,290
Total Other Expenses
8,137
Total Fixed Operating Expenses
$43,459
Timeline
Synergy Ltd will be founded at the end of 2019 will be starting
operating by December. Synergy Ltd aims to be one of the
successful business coaching companies in Turkey and helps
small and middle-sized companies to improve themselves in a
long term run. In the first five year period, Synergy plans to
make the highest improvement in its active region. In the
second five year period, Synergy plans to build a nationwide
network in the coaching sector. In the third five year period,

Synergy plans to become a multi-national company and plans to
open its first branches outside of Turkey.
Conclusion
This project was designed for business coaching to small and
medium-sized international trade companies. The idea was to
guide those organizations in management issues. The top
priority goal was to create a business coaching company that
would be able to support small and medium-sized international
trade companies in productivity, growth and strategic planning.
International trade has been becoming cruel for Turkish
companies and Turkish companies are looking for ways to
respond to trade changes and new customer needs. Although
new trends come with new opportunities, these advancements
create a number of challenges. Common problems include
financial restrictions; economic ambiguities in the global
markets unified with unstable service prices are putting pressure
on margins and cost-effectiveness.
Considering these reasons, this business plan was created to
support organizations in three different areas. Due to its
business coaching nature, the very first step to guide
organizations is to diagnose the problem. During this first stage,
the most popular coaching process the GROW model will be
used. After understanding the major inadequacies in an
organization, the best fit solution will be applied.
The solutions will include general planning, which targets
strategic planning, marketing and promotional Planning, and
general administration, or marketing and promotional planning
which are creating promotional action plan, advertising plan,
and public relations plan. Eventually, after the problem is
diagnosed and the solution is implemented, the last thing is to
monitor how it works.
During these three stages of business coaching (diagnosis,
implementation, monitoring) the ultimate aim is to reorganize

companies and make sure that without any further guidance they
won’t face the previous problems that they have overcome with
us. Synergy’s guidance will time-limited and beyond planning
in management or marketing; it will aim to increase in
performance, employee coaching quality and motivation and to
reduce the cost of getting coached. Three things that Synergy
prefers to break are employee resistance, time pressure and
budget sensitivity.
This project is about conveying business coaching approaches,
new ideas, emphasizing theories, finding success factors of
knowledge, redesigning organizations, and helping to get rid of
uncertainties in organizations. The research part showed three
types of management coaching approaches, to describe how
specific circumstances were handled. Thus, this research relates
to the international trade industry in the methodology chapter
by a survey demonstrate awareness of business coaching, the
efficacy of coaching in organizations, and how firms should be
handled by business coaching companies.
Statement of Learning
I have realized that businesses start with a vision and
knowledge. In order not to be unsuccessful, circumstances in
the targeted market and the process of business coaching are the
essential elements that business founder must know. On the
other hand, having good knowledge of market might not be
enough to run a business, for sure, science is the core thing in
every area. So, without knowing the approaches of business
coaching in the literature, I cannot imagine myself running a
company. I am so grateful to have taken this opportunity to
create a business plan and to have seen the details of
establishing a business. This project has sought to demonstrate
how business planning and processes can contribute to the
learning of coaching, and particularly the insightful element
within it.

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