Is Coaching Worth Your Investment?
This statement can mean a lot of different things to a lot of different people. Do you want to become a coach, or are you seeking coaching services? To see whether coaching is worth the investment from both perspectives, let's consider some facts and findings about the coaching industry at large.
Is coaching worth the investment from an educational and training perspective? Yes, coaching is a lucrative business. In fact, professional coaches worldwide bring in almost $2 billion each year. That’s billion, with a ‘B.’ There wouldn’t be approximately 47,500 professional coaches if it wasn’t a good business to get into.
On the other hand, you can interpret "worth the investment" statement to infer if it's worth it from a meaningful and purpose-driven place. After all, the job of a coach is to help others improve and ameliorate themselves in all aspects of life and work. So, it’s worth it from that stand point as well. As a coach, you acquire coaching tools that are designed to facilitate an inevitable positive change, which is an invaluable gain to your clients and you as a coach.
How do coaches create results for their clients?
Did you know that 99% of clients are satisfied with their experience with coaches? And of all clients surveyed, 96% also said they would definitely hire a coach again, given the same circumstances. That speaks volumes alone about the incredible help coaches are to their clients.
So, why most people are very happy with their coaching results? The answer is simple - the reason they hire a professional coach is because they are seeking to improve themselves. They want to grow personally and/or professionally, they want to get more out of life, love, and work. They know they are ready for this incredible improvement in their life and they want coaches to guide them. Not only that, clients also see their investment in coaching paying future dividends. By learning and growing as an individual, 86% of clients say they definitely made their money back from their investment in coaching.
(*statistics provided by the International Coach Federation – Los Angeles Chapter website. See full report here.)
The results speak for themselves
At the very core of the coaching industry is the desire to help others achieve greatness and improve themselves and their lives overall. This is what fuels coaches and makes them successful. Coaches help maximize the potential of each individual person. A coaching process is unique for each client, but ultimately the goal is to support the client with pursuing new ideas and creating alternative solutions that will ultimately help them with any situation that may arise. As a result, 70% of clients have overwhelmingly stated their work performance has improved. If that’s not enough, 61% said their business management improved, and for 57% it improved their time management.
Staying positive is imperative
Today, anything is possible. Too big to fail? Not anymore. That’s why it’s imperative to remain positive about the future. As a result of seeking coaching, 80% of clients improved self-confidence. Not only does that say something about how many people feel the need to regain or boost their self-confidence, but it also speaks to the power of coaches and how they can help. Not too far behind, both relationships and communications skills (which go hand-in-hand) were improved as well with 73% and 72% respectively.
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Of course, coaching isn’t only about growing your business or fostering personal development. Sometimes, coaches can help a client find the happy middle between multiple goals they wish to achieve. The elusive work-life balance that is so often spoken about, and so rarely found. Of all clients surveyed, 67% said they were able to achieve a better work-life balance.
What about becoming a coach?
Well, aside from the greater demand for personal and professional coaches, it’s also a very rewarding career. Think of guiding your clients towards better outcomes in all aspects of their lives. Envision all the people you help to achieve goals with the effective coaching tools that you as a coach have developed. You hold those who seek personal and professional success accountable for their progress and setbacks. Now think about doing it for a living, every single day. Think of how much positive change you can effect by being a coach!
Whether your clients' ultimate goal is: more money, more success, more friends; or whether their goal is a personal change and developing new perspectives - you are their sounding board and a professional partner in their success. Regardless of the reason, many people need that extra push or support that a coach can provide. By working together with a coach, clients gain a clearer vision and time frame for achieving their goals. Once they see and feel the transformation in their lives, the investment in coaching becomes less about the cost and more about realizing the value of one's purpose.