I have a dire prediction for the future of our life & business coaching industry!
There is one fundamental law of economics that applies to virtually every sector of business, including the coaching industry. And that is the ‘Law of Supply & Demand’. The coaching ‘marketplace’ – in other words your future clientele – is looking more and more for life & business coaches that are different from the traditional coaches of the past decade! Today’s coaching clients have a clear and unmistakable message for coaches: They don’t need more traditional coaches, and they definitely don’t need the limited skill sets these traditional coaches possess. Yet existing coaching academies and those that provide coaching training simply aren’t listening! Coaching schools that are currently certifying coaches must either adapt to this coaching evolution or face becoming irrelevant. Yet I see very few coaching institutes making significant changes to their training programs.
Life and business coaching has become one of the fastest growing service industries in the world, second only to information technology! It is now a 2 billion dollar industry.
The demand for life & business coaching is steadily growing and this demand will only increase over time. But the quality of coaching to meet that demand is eroding at an even faster pace, creating a huge imbalance between the EXPERT coaching services that today’s clients are demanding and the obsolete coaching techniques that traditional coaches were taught.
If you’re not a life or business coach EXPERT with the EXPERT coaching skills to meet today’s demanding and discerning clients, you’ll soon be out of work! Today’s demand is for the EXPERT coaches of tomorrow– not the traditional coaches of yesterday!
When I look at the way in which coaches advertise their coaching services on their websites and how they offer solutions to client problems, I usually come across claims that include:
- more fulfillment
- more clarity
- more attraction
- more focus
- better results
- more accountability
- more balance
- more ‘beingness’
And the list goes on and on
But when you’re dealing with one of today’s new breed of coaching clients, their first question will be: “How are you going to do that? Don’t give me the fluff and typical coach’s jargon! Don’t give me the fuzzy metaphors! Don’t give me a bunch of mumbo-jumbo that I can’t relate to!”
Most coaches have 2 universal needs:
- They need more clients
- They need to make more money
Yet there are lots of clients that are willing to pay a premium coaching fee. But they want to hire coaches that can produce a desired outcome. They want to achieve the desired results that only coaching EXPERTS can deliver!
So the choice is simple. You can stick to the traditional coaching format and become extinct, or you can embrace a new coaching ideology and position yourself as EXPERT life or business coach and start charging EXPERT Coaching Fees!
And that choice is yours!
© 2014 Allan N. Mulholland, CPC
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