Decide which type of squad you would like to coach and at what level. The two main types of squads are competitive and spirit. Competitive teams usually perform at competitions and some sporting events, while spirit squads use cheers and chants to support their teams at games and to get the crowd encouraged through entertainment routines.
Learn all you can about the sport. There are numerous video and instructional books that can be purchased that will familiarize a new coach with the essentials to cheerleading. "Coaching Cheerleading Successfully" is a great reference for beginning and advanced coaches (see resources below).
Either perform the moves yourself or gain a solid understanding and ability to perform arm and most leg movements the proper way. Cheerleaders can learn the proper way to make an arm formation pose when they can see it performed first hand. If you can provide this visual tool personally, it will be more helpful to your squad.
Join a cheerleading association which can offer the safety of regulated performances during sporting events and competitions alike. Choose from a list of national coaches' camps available online (see Resources below).
Watch cheerleading competitions on T.V. or attend a local competition or sporting event to learn about cheerleading. Here, you can talk to other coaches about their experiences and find out firsthand if this is something you want to pursue.