Practice

Practice operates as a comprehensive business management platform tailored for coaches, consultants, and other solopreneurs. Founded in 2020 by Julien Smith and based in Montreal, Canada, the company aims to consolidate the fragmented software stack used by independent professionals into a single, streamlined system. Smith, the CEO, is a New York Times bestselling author and the co-founder of Breather, an experience that provided him with deep insights into the challenges of entrepreneurship and the need for robust support systems for founders. This background informs Practice's mission to empower individuals to run their entire business from one place.

The company provides an all-in-one software solution that addresses the core administrative and operational needs of a coaching or consulting business. Its business model is centered on a Software-as-a-Service (SaaS) subscription, offering various pricing tiers to accommodate businesses from solo practitioners just starting out to larger teams. Revenue is generated through these monthly or yearly subscription fees. The platform targets a market of independent knowledge workers, such as executive coaches, life coaches, consultants, and therapists, who often juggle multiple applications for different tasks.

Practice's product is designed to manage the entire client lifecycle. Key features include client management (CRM), scheduling that syncs with Google Calendar, and payment processing for invoices, packages, and subscriptions through Stripe integration. It also provides a secure, encrypted client portal available on both desktop and mobile, where clients can communicate via chat or voice memos, access shared files, and view their history of sessions and invoices. The platform includes tools for creating and sending forms and contracts, with templates available to simplify the process. To further reduce administrative workload, Practice offers customizable automations for tasks like sending reminders and follow-up forms. In October 2021, the company announced a $10 million seed funding round led by Andrew Chen of Andreessen Horowitz (a16z), with participation from notable angel investors like Tony Robbins, to accelerate product development and expand its team.

Keywords: business management software, coaching platform, client management, consultant tools, solopreneur software, Julien Smith, practice management, client portal, scheduling software, online payments, subscription billing, workflow automation, CRM for coaches, therapist software, all-in-one business platform, Andreessen Horowitz, a16z, Tony Robbins, seed funding, SaaS