What’s changed in the coaching industry in 2023?

The coaching industry is the second fastest-growing industry in the world – why?

The stats are staggering…
In December 2020, LinkedIn search results showed 1,603,532 results for ‘Coach’.
Just one year later, this had more than quadrupled, to 6,640,000 results for ‘Coach’.
By March 2023, these numbers have continued to grow, with the current search result for ‘Coach’ on LinkedIn being 8,140,000.
I have no doubt this number is going to continue to soar!
The impact of Covid, the dramatic shift in people’s working lives, how much time they spend at home, and the opportunity people have had to reflect on their lives and their aspirations, has all led to an increased demand for coaching.
It’s worth noting that having technology at our fingertips has created more of a drive towards measuring our steps, our sleep, our health, our emotions, and more. We also have a greater awareness of neuroscience and various solutions we can tap into.
Some potential trends that are shaping the coaching industry in 2023 include:
  • Increased demand for coaching services: As the world becomes more complex and uncertain, individuals and organisations are recognising the benefits of coaching, seeking out coaching opportunities to help them navigate challenges, develop new skills, and achieve their goals.
  • Greater emphasis on digital coaching: With the growth of remote work and the increasing availability of online coaching platforms, digital coaching will become even more important in the years ahead, providing flexible, on-demand and personalised learning.
  • A focus on the additional support outside of sessions: As individuals and organisations seek out coaching services that are tailored to their specific needs and goals, coaches will need to see the relationship as a whole rather than just focusing on what happens in the coaching session.
  • Greater diversity in coaching: The coaching industry has traditionally been dominated by a small, fairly stereotypical group of coaches, but this is likely to change as more individuals from diverse backgrounds enter the field.
  • The rise of coaching marketplaces: With the growth of online coaching platforms and marketplaces, it will become easier for individuals and organisations to find coaches that meet their specific needs and requirements. Through the internet, people literally have the world at their fingertips. There are no geographical restrictions online; we’re living in a global arena.
This all means that niching is even more critical as a coach.
How can you stand out in the sea of coaches?
Coaching is an unregulated industry and anyone can call themselves a coach.
So, how do you stand out from the crowd, get clients’ attention and demonstrate reassuring credibility?
You build a specific niche and offer, creating something unique that you can communicate clearly to your ideal client.
People pay for a specific outcome. They’re not looking for six coaching sessions, they’re looking for a tangible difference in their life. Paint the picture of where they are now and where they could be with your support.
Identifying and nailing your niche allows you to speak directly to your potential customers, in your marketing and messaging, in a way that will compel them to contact you.
You can become an expert in your field, attract your ideal customers and generate referrals.
But don’t let your niche (or lack of!) freeze you into inaction! Get to a 70% good enough niche and start now. Even if you’re not ready to niche yet, always be listening to the problems people have and using your creativity to think about how you can support them to solve those problems.
You are good enough to start right now. Plus, it’s actually the perfect time to take action!

Here are 5 reasons why now is a particularly good time to go for it in your coaching business

1. We’re currently in the spring Equinox and the stars are literally aligning for this 3-week window until 7 April to make things more possible for us all. Whether or not you believe in astronomy – take this inspiration for a fresh start, run with it and make it work for you!
2. The Law of diminishing intent shows that if you don’t take action within 48 hours you’re less and less likely to take action at all. If you want to do something – do it now!
3. Setting big goals and believing in your highest capacity of yourself will always get you further than if you didn’t set those goals or dare to step fully into that mission at all.
4. Your big goal is actually just very small tiny steps added together. What’s your first step?
5. What you want is possible. It’s likely that someone has already achieved what you want to achieve so look for those examples of possibility. And even if no one has achieved it before – it doesn’t mean it’s not possible. There’s always a first time.
So, remember, if you have a dream, it’s been put there for a reason.
When you become the type of person to go all in then you make the world a more exciting, inspiring place to be.
I hope you get everything you want.
 
Get the love and support you need to make it happen
If you’d like my help to make a difference AND make a living you can learn more about how I can help you here.

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Hello and welcome! I’m Joanna Lott, and I’m passionate about empowering qualified coaches like you to build brilliant businesses.