Running your own team isn’t easy. You’ve got to keep all the players happy, keep the parents happy, and make sure your players are developing all whilst keeping to a budget.
It can get tough. There’s no two ways about it.
That’s why it’s imperative you know your numbers.
It can get easy to get carried away with spending money on your passion. You’re a coach, you could almost be forgiven for trying to do your best. But before you start spending any money you need to plan – think of coaching your own team or running a youth club as you would if you were running a small business.
- Allows you to work ahead of time
- Being able to plan ahead is a great way to see problems coming before they take effect. You don’t have to plan 5 years a head either. You don’t even need to plan 1 year ahead. Start with 3 months and work from there.
- Gives more power in developing teams overall training
- By budgeting and setting aside some money for equipment ‘upgrades’ or new training equipment you can give yourself more power in your teams development
- Less stress
- Properly budgeting and planning takes an enormous amount of stress off your shoulders.
- Allows you to be in better position if your ever want to source external funding
- Sometime down the line you may want to source external funding. Without a clear strategy of how you’re spending your money you’re chances of being successful are slim to none.
Step #1: Get organised
- How much money do you have to spend
Based on your incomings (Subscriptions, Personal Income, Fundraising, Revenue Streams) how much money do you have available? Write this down.
- Assessing value for money
Based on your players, your team and your personal circumstances, only you will be able to answer this question. What are the most important things to;
- Your Team
Is it quality? Portability? Price? Or something else?
- Have you got all your essential equipment sorted yet?
There’s no point in buying equipment that you want but don’t need. Do you find yourself sharing balls out every session? Then it’s probably a bag of balls you need.
If however, you’re having complaints from parents asking why their kids are always sitting on the grass at matches when it’s muddy then a portable bench might be what you need to buy.
It’s a balancing act between players, parents and you, the coach.
- Speak with other coaches to get their ideas
If you’ve got a team of other coaches working with or for you then get their ideas as well. They may feel that you would be best investing your money in something else.
Step 2: Open up your spreadsheet
You could of course just jot it down on a piece of paper. However, by using a spreadsheet, you have everything set out there in front of you. Include the following;
- What your players need
Items that would fall in this category will be things such as your essential equipment. You need balls to play football. Cones and bibs would also fall in here. What else do your players need to help with their development?
- What you would like
These are things that you have identified that would make your life (or other coaches lives) easier. Although they are not essential once you have completed your essential list, these are the types of things that will set you apart from every other coach.
Don’t hold back either. Think big. Once you’ve done that, put them in order of priority.
- What your players would like
Finally, there are the things that your players would like to see. This is what keeps your players coming back week in and week out.
These things keep your players motivated. When you start filling up this sections you’ll be setting yourself apart from all the other teams.
- Price, Quality, Portability + any other variables that are important to you
Take each one of your items and do your research. Jot down all your findings.
- Money coming in
Write down all your money coming in. This will be constantly updated throughout the season. You’ll need to record all money coming in from the following sources;
- Your own investment
- Other income streams
I recommend you update this on a weekly or monthly basis.
- What are your outgoings?
How much money to do you have going every week or month? Do you employ other coaches? Do you pay for pitch hire? DO you have any travel expenses? Write them down here.
- How much can you afford to spend each month?
Based on true and predicted income how much money can you afford to spend every month? You’ll want to record what your previous month’s income and outgoings were and what you expect next months is going to be.
Once you have these figures you’ll have a very good idea of how much money you’ll have left at the end of each month.
Step 3: Need Vs Want
- Priority first
Now is the time to go out and buy your essentials. I recommend using sites such as Amazon to shop. They not only have a great review system in place which allows you to see everyone’s personal reviews but they are a very reputable company where millions of people buy things all the time.
- Then look at other equipment
After you have bought your essentials it’s time to move onto your wants. Of course AFTER you’ve got your numbers in order!
Step #4: Review your budget sheet
Depending on who, where, what, when and how you run your team and its financials will depend on how often you review your budget sheet.
I typically like to review my budget sheets every Friday. This allows me to go into the weekend clear headed.
Soccer coaching on a budget doesn’t have to be stressful. In fact you started coaching because you love the game so why would you start getting stressed about something you love?
A simple plan of action and little preparation will go a long way to not only saving your sanity but also planning for your team’s development.
You’ll not only keep you players wanting to come back every training session but you’ll also keep you parents extremely happy too.
If you want to save some time in the whole budgeting thing then you can download your free excel budget sheet below.
Take care and good luck,
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