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Why You Need to Offer a Coaching Program in Your Business

This is the first of an 8-part series on why offering a coaching component is smart and potentially very lucrative for you and your business.

Coaching is growing at a rapid rate and the demand is only increasing.

A recent article published in USAToday.com says that “10,000 coaches of various types are working in the USA alone according to a review in the current Psychotherapy Networker, a magazine for professionals.”

There are many theories on why coaching has grown to become such a popular tool for millions around the globe. The self-help field has always been a booming business. Combine the popularity of self-help with the Internet, which provides easy access to experts in every industry, and it’s easy to see why coaching is such a popular and growing field.

And coaching touches almost every industry imaginable. Here are just a few of the common coaching approaches:

  • Life coaching
  • Business coaching
  • Executive coaching
  • Personal coaching
  • Health coaching
  • Time management coaching
  • Organization coaching
  • Sports/fitness coaching
  • Dating coaching
  • Career coaching

Here are a few more fun statistics:

  • “Personal coaching in the US was the second fastest growth industry, after IT. Apparently, there are 50,000 searches per month on Google alone from people looking for a coach.” (Sydney Morning Herald)
  • There are an estimated 40,000 coaches practicing in 70 countries worldwide.
  • The coaching industry continues to grow at a rate of approximately 20% per year.
  • Coaching is currently a $1 billion a year industry.
  • There are over 50 coach training schools worldwide.

What Does This Mean to You As An Entrepreneur?

As a business owner, the increasing demand for coaches provides you with an opportunity. As you’ll soon see, coaching offers you tremendous potential to grow your business. It doesn’t matter what industry you’re in. The coaching business model can be adapted to fit almost any business model and niche. In fact, the more specialized your niche and services are, the more opportunities you may have.

If you’re not familiar with coaching or the coaching concept, take a few minutes to learn about the industry. You can check out any number of the coaching associations and organizations.

For example, there are the:

If you’re familiar with the coaching concept, then you’re ready to go. Perhaps you’ve even worked with a coach yourself. If so, then you likely already know the amazing value you can provide your clients.

In future posts we’ll take a look at seven reasons why you need a coaching program in your business. Here’s a look at the seven:

  1. How Coaching Builds Credibility and Authority for Your Business
  2. How Coaching Helps You Brand Your Business
  3. How Coaching Enables You to Add a High End Product to Your Sales Funnel (Profits)
  4. Why Coaching is Such an Easy Fit for Your Existing Business
  5. Why You Can Offer Coaching In Any Number of Formats – Whatever Best Fits Your Needs
  6. How Coaching Fits Just About Every Niche and Business Model
  7. How Coaching Provides Added Value to Your Customers

If you’ve ever thought about becoming a coach or are looking for a way to expand and grow your business, then this series is going to be right up your alley.

Stay tuned.

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