The Coaching Industry Is Growing and Why It Matters
What career can adapt to society’s needs?
What career can offer opportunities in every field?
What career can provide job satisfaction and financial security?
With workplace values changing and more people valuing things like flexibility, work-life balance, and meaningful projects, it’s no surprise the coaching field is one of the fastest-growing models of business, with no sign of slowing down.
It’s well documented that “going it alone” is one of the hardest routes to take when trying to achieve a new goal. If only there was a tried and tested method that could help participants not only reach their goals, but also learn something along the way, too.
THE COACHING INDUSTRY IS GROWING AND WHY IT MATTERS
People are hungry for information but don’t have the time or mental bandwidth to do the digging themselves. They want a way to breakdown information faster while staying accountable. A good coach will listen and provide some recommendations for how to change. A great coach will help their client truly understand what exactly it is about the change that is really upsetting or frustrating to them. The support offered by the coach is energizing and uplifting, providing a sense of rationale and calm to the client, even during the toughest challenges.
In a survey by the International Coaching Federation (ICF), 99% of those who received coaching reported being satisfied with the experience they received from their coach 1. So, it’s no surprise more and more people are beginning to see the value and benefit of coaching to help support their efforts. A coach is no longer just for sports – nutrition, career, relationships, confidence, life – whatever it is, there’s a coach for that.
As the coaching industry continues to grow, change is inevitable. How can you, a modern-day coach, prepare to stay ahead?
DIVERSIFY YOUR NICHE
To establish a strong foundation for your coaching practice, niching down is one of the most important things you can do. However, if you feel there’s an untapped market that would fit into your niche, this could be a great time to expand your services. To begin preparing, consider what issues reside near or close to your niche. For example, you may focus on autoimmune conditions, but you often see clients who struggle with mindset issues too.
While some of your coaching sessions touch on this, you’re confident it’s an area that could be developed further. Remember, you must have a solid niche established before diversifying. As the industry develops, you want your programs to speak for themselves – you cannot afford to offer half-baked services.
EXPLORE CROSSOVER OPPORTUNITIES
With industry expansion of the self-care space comes more crossover opportunities. Unlike diversifying your niche, you can explore projects outside your scope without changing your core offerings. Since you’re one of the most qualified coaches in the space, consider being a guest on a woman in business podcast. You could also consider writing a book, endorsing a healthy granola bar product line, or setting up an affiliate program with a brand you admire.
You’re crossing over to increase brand exposure while maintaining quality and excellence in your own niche offerings. If you’re worried about finding opportunities, remember, as the effectiveness of coaching becomes more well known, they’ll come to you. Get prepared by making a list of brands and established personas you’d like to partner with in the future.
INCREASE YOUR INCOME
As more and more consumers learn how effective coaching is, it’s expected there will be a greater demand for services. As an established and experienced modern-day coach, you’ll have the ability to increase your prices and set yourself apart from others in the field.
To start preparing now, begin asking current clients if they’d like to offer a testimonial of your time working together. Make sure to keep them anonymous. Testimonials offer a snapshot to potentials clients, providing insight into what it might be like to work together. A coach with a lengthy list of testimonials documents both their experience in the field and the effectiveness of their coaching style.
MEET INDUSTRY REGULATIONS
One of the biggest challenges within the industry is low-quality coaching programs and a lack of regulations. These programs are akin to that of a diploma mill, offering minimal coaching education, limited contact hours, and as a result, produce poorly trained coaches who damage the reputation of the industry.
There may be over 53 thousand professional coaches worldwide, but they are not all created equally. The Certified Transformational Nutrition Coach (CTNC) program is an accredited program, so you can be sure you’re one of the most qualified coaches in the field. As the industry grows, consumers are going to look to regulatory standards for who they should work with – as a CTNC, you’ll stand out.
Coaching is a unique career that not only allows but celebrates working in alignment with your truest values and passions. The landscape may be changing fast, but as a modern-day coach, you know exactly how to help your clients transform into the best versions of themselves. After all, you did it for yourself! Make sure you’re part of the coaching revolution and start preparing today.