COACHING PLAN FOR ESTABLISHING AN E-COMMERCE BUSINESS

The objective of coaching is to improve the efficiency of the business plan. This includes
either improving existing abilities or gaining new ones. It is progressively understood that individuals
and businesses do best with the coaching plan and that this success transforms into business
performance. Coaching plan can help business increase productivity, provides a communication plan,
significantly raise dedication amongst the staff and decreases stress levels.
SMART goal setting stands for Specific, Measurable, Achievable, Relevant and Time-Based.
It is an essential process for identifying and meeting your market goals. Application of the SMART
grid while establishing the E-commerce business will to set priorities that would allow creating more
practical, workable market targets and monitor the progress against them. In a few months of
launching the E-commerce venture, after the creation of the website, next move is to set up to
products to sell, which will allow benefiting financially from converting a personal interest into a full
business. In eight to nine months, the company is expected to have an inventory of multiple items to
be distributed in partnership with the retailer, to initially deliver at least fifty goods a week and
concentrate on developing consumer relations through word of mouth, referrals and local networking.
After that, there will be attempts to acquire three potential investors through the help of consulting
practise by calling for references, launching a social media marketing strategy and networking with
local companies. This will allow the business to grow and inflate revenues by increased sales. The
SMART objectives for setting up an E-commerce business are listed below:

 Specific objectives: I will attain some degree of competence about the ownership of e-
commerce business. I'm planning to build an online platform to sell a wide variety of items
from my website. I'm going to acquire a few stakeholders or investors to invest in a new
company.
 Measurable objectives: The website will be up and running within six months of the creation
and deployment of all safe gateways to make the website accessible and effective. The goal is
initially to sell a minimum of fifty items per week. Progress can be calculated by the traffic
obtained on the website and the addition of new customers while retaining the old customer
base.
 Attainable Objectives: First, complete the website set up for the business and make sure the
website is safe and user-friendly. Next move is to create an inventory of a wide variety of
goods to be marketed in partnership with different manufacturers and vendors. The final
move is to advertise the website by initiating a social media marketing strategy on different
channels, such as Facebook, Instagram and Twitter to draw targeted customers and establish
the word of mouth customer connexions, to ask current clients for referrals and to network
with local businesses.
 Related objectives: Selling items online and attracting user demand would make it easier for
business to benefit commercially and raise income from personal interest. Also, adding more
customers to this business will enable the business to expand and increase sales revenues
associated with the same.
 Time-based objectives: A well-protected and user-friendly website portal will be completely
functioning in the first six months of the start of the venture. In addition to the vendors, and
inventory will be set up and running within two to three months. In a year, the company will
be open for service, taking orders and handling delivery along with a robust social media
marketing campaign. The next move will be to secure a few investors to expand the reach of
the market and draw more buyers.
 The GROW model is a simplistic strategy formulation and the problem-solving process. The
GROW Paradigm is a coaching model used in discussions, workshops and day-to-day leadership to
maximise potential and prospects. The GROW model, which stands for Goal, Reality, Options, Way
Forward. It is difficult to operate an E-commerce business in the current situation when there is a very
strong degree of competition in the digital market. The marketing strategy and the website need to be
built in a manner that stands apart from existing businesses. It strengthens a positive sense of identity
by mapping the expectations of an individual according to the aspirations, actual reality, their choices
and their will. Through this coaching plan, a manager can easily increase visibility and responsibility
in each area of business design.
Goal-setting analysis and goal-setting implementations for organisations are objectively
analysed in a one-dimensional/multidimensional framework (AUSTIN & BOBKO 1985). Goal setting
theories are applied to a specific business and organisational purpose and these objectives must be
adapted to fit the context in which they are applied which aligns with ideals and philosophy of the
business (Locke 2004). When applying goal-setting theory to our objective of establishing an E-
commerce business involves the creation of an action plan which is designed to help guide and
motivate towards the goal of creating a successful business. Goal setting can be guided on basis of a
few theories such as SMART criteria that has been discussed. The major element of goal setting
theory that has been identified is the personal development that implies learning new skills for future
application. For a business model, it is very necessary to set deadlines, it enhances the success factor
of the targets to be achieved. (Lunenburg 2011).
Establishing a business of my own has been a long-time interest of mine. Being brought up in
a business class family, I was always interested in starting my own business. The learning tools and
developing criteria under coaching plan provides a definite guiding path to start with setting up an E-
commerce business. Business skills are a fundamental component of starting, running and managing a
successful business. The skills required for developing a business includes analytical, problem-
solving, financial, sales and marketing and most importantly time management skills which I have
developed over time and this course have aided me to further my knowledge on the same subjects.
The creation of the coaching plan has provided additional motivation and guidance aiding to the
development of a business plan.

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