If you are starting a coaching business and have been worried that the market is saturated then you need to read this article. You’ll learn exactly what the situation is with the coaching market and why there has never been a better time to start your business. You’ll also learn what the threats are in the market so you can make sure you achieve your coaching business visions.
The number 1 question I keep getting asked by Coaches right now is, “Is the coaching market saturated?”
When I ask Coaches why they think this….they tell me it’s because they see so many Coaches’ adverts when they go on Facebook. This makes them worry that there won’t be any space for them in the market and they won’t attract clients.
Maybe you are having the same fears and doubts?
If you are then you need to know that the reason you are suddenly seeing so many adverts for Coaches is because you’ve probably liked some pages of Coaches and now Facebook is showing you ads and posts that it thinks you will like.
The truth is that Coaching is a booming international industry…
The Coaching Industry is worth hundreds of billions of dollars and is predicted to grow rapidly over the coming years. Here’s why:
- New technology and social media platforms mean coaches can work virtually and gain international clients relatively easily
- Demand for coaching from professionals with high incomes is on the up
- Coaching lacks the stigma that some people feel about having therapy
- It is relatively cheap to start up your coaching business as compared to starting other businesses
- Corporates are reducing their overheads by outsourcing their staff training needs to virtual coaches
What is more both business coaching and life coaching sectors are growing fast. There has never been a better time for you to grow your coaching business.
But you need to know there are threats to your business..
The coaching market, like all markets, is evolving with technological, economic, social and cultural changes. You need to know what these changes are and make sure you are ready for them.
Right now, the coaches who are most at risk are the ones who are working solely in a local market and haven’t taken their business online. This is because one of the biggest threats to Coaches is the economy. Many Coaches in the UK have already found that the recession means that their client numbers have shrunk.
The new opportunities opening up for Coaches are in the area of virtual coaching. So, if you just work face to face with coaching clients you could find yourself being left behind.
Facebook at costs are rising. Right now it is much harder to run webinar ads that convert successfully to clients without spending vast sums on advertising. Whilst it is still possible to break into the online coaching place with the help of an experienced mentor right now – this is not going to be the case in the future.
So, how can you ensure your coaching business is successful?
I recommend you do the following:
- Take your Coaching Business online
- Provide a flexible and virtual coaching service and take advantage of the new opportunities from corporates and individuals
- Become an established expert in your field so that you attract a following of people who are keen to work with you and only you
This is exactly what I have done with my coaching business…
I’ve been self-employed for over 10 years. Growing my psychotherapy business during a recession in Ireland!
During the past three years I’ve taught many Coaches how to take their coaching business online with great success.
I know how important it is to you to achieve your visions for your coaching business. Your success does not need to be left to chance. With my support you can ensure that your success is inevitable.
If you would like my help with taking your coaching business online and becoming an internationally recognized coach, then book in a free 1:1 call with me here: Book your 1:1 call with Shelley
I look forwards to supporting you!