If you’re an online coach, we have some rather encouraging news to share with you: The coaching industry has seen exponential growth in recent years. Back in 2019, the estimated market size of the coaching industry in the U.S. was $15 billion USD. If the predictions are correct, with the average yearly growth rate of 6.7% the value will grow to $20 billion USD by 2022, making coaching one of the fastest-growing industries in the world! This can potentially lead to amazing things for you if you’re an online business coach.
That number represents the general changing global perception of coaching, from being a service once only available to senior-most leaders to a common practice today at different organizational levels to facilitate success.
Of course, with the industry growing so is the demand for coaches, particularly those with specialized expertise. And with it, at Simply.Coach we have been noticing a lot more professionals getting trained to be certified coaches.
We found, however, that there is a distinct gap in training: newly established coaches aren’t given the know-how to establish themselves as a successful online business coach on their own, to generate enough revenue and market and brand themselves so they can grow.
And so came about Simply.Coach’s Business of Coaching: A content series that explores the different aspects a coach must focus on to build a coaching business.
In the coming weeks we will cover several topics, including (but not limited to) the following:
- How to get more clients?
- How much should a coach charge? What are the metrics?
- What does a coaching contract look like?
- What does it mean to be an independent coach?
- The role of branding & marketing yourself as a coach
- What should a coach’s website look like?
- The role of referrals in the coaching business
- Should I specialize as a coach or be a general coach?
Our intention with this series is to offer learnings – via blog posts, videos, and webinars – that you can immediately start applying in your individual online coaching business.
We hope this series will be valuable to you. If there’s any particular topic that you would like us at Simply.Coach to cover in the Business of Coaching series, please comment below and we’ll add it to our upcoming content roster!
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Simply.Coach is an enterprise-grade coaching software designed to be used by individual coaches and coaching businesses. Trusted by ICF and EMCC-credentialed coaches worldwide, Simply.Coach is on a mission to elevate the experience and process of coaching with technology-led tools and solutions.