For the past 15 years, coaching has become an integral part of many lives — both professional and personal. Its boom has since allowed the coaching industry to evolve into diverse types of coaching making the current global market for the coaching industry stand at a whopping $2.85 billion!
The demand for life coaches went up by 33% from 2014 to 2019! Another study by iPEC shows that people use search engines over 1.5 million times every month to connect with people from the coaching industry.
Come 2020, and the pandemic hit the world. COVID-19 impacted the coaching business as most in-person sessions had to be stopped. Virtual sessions were uncomfortable to adapt to, but in time, they were a hit. In fact, virtual meetings have increased by 57% since the lockdowns started. This marked the resurgence of different types of coaching.
Coaching is a varied industry. Different aspects of life call for different types of coaching. In a dynamic and ever-growing economy, coaching has become a very viable career option, with hundreds of coaches applying to certification courses every day.
You could be a relationship coach and guide people to make better relationship decisions, or you could be an intimacy coach and help couples overcome their relationship hurdles. Both sound similar, right? But the key difference lies in the approach that both the coaches take. These subtle yet strong differences are only understood once you delve deep into the coaching industry and explore various types of coaching.
What is Coaching?
Although not the same, coaches are like mentors who help you see the bigger picture related to your personal and professional life. Think of all the eminent kingmakers in history, be it Chanakya of Indian lore or Merlin of the King Arthur saga. They were coaches and mentors to rulers immortalized in stories!
Being a coach is like traversing between being a therapist, a mentor, and a guide. While some coaching niches are stable career options with quick and discernible results, the majority of the other coaching niches have intangible results that are harder to explain.
Take, for example, corporate coaching. You are dealing with not a single person but a whole team. You need to curate the sessions to fit each individual, and the progress will be person-oriented. On the other hand, people dealing with the health coaching industry will have no issues making potential leads see observable results. In fact, health coaching statistics predict that by 2025, the heath coaching niche will generate $8.87 billion worth of business.
While coaching is trending as a business and as a mentorship, there are hurdles that this sector needs to overcome. From the business point of view, coaching can be profitable provided the coaches are certified and are passionate about their niche. As a mentorship program, coaching can be done by just anyone.
Your best friend can be your life coach or relationship coach and provide you with great results, but they are not certified. There is also the issue of no proper regulation for the different types of coaching that we see today. Hence, everyone thinks that they can become a coach if they are great at giving advice.
Top 10 Types of Coaching to Consider in 2023
Coaching should be an essential part of everyday life. You do not have to be a professional to seek out a coach. You can be a fresher who just graduated college and would like to get help with your career choice. You can be someone who feels confused about your true identity and would like a coach to help you discover your true self.
There are so many types of coaching that the industry is saturated with options, and people who want to be a coach or looking for very specific types of coaching can easily connect with the mentorship they need. Here is a look at the top ten coaching industries and their key responsibilities.
1. Life Coaching
Since 2019, the search for life coaches has gone up by 51%. This does not mean that people are suffering from indecisiveness when it comes to their life! Life coaching is a mentorship that every one of us should seek from time to time.
Life coaching is all about helping individuals identify their life paths and goals. The key characteristics of life coaching are:
● Re-evaluate life goals
● Identify the loopholes
● Redesign ways to achieve the goals
● Achieve a balance between all the aspects of life
Life coaches are attentive and provide constructive feedback that can help the client re-evaluate their life choices. Life coaches also help clients create a plan to follow for their life goals and what hurdles they are facing or can face.
Check out our Ultimate Guide to Life Coaching.
2. Health and Wellness Coaching
While the pandemic was a push for many startups and new working models were developed, the pandemic and the lockdowns also led to various health issues. Some suffered because of the virus, while others had mental breakdowns as they lost their jobs or were forced to stay away from their families.
The health and wellness coaching industry came to the rescue. People who became mentally stressed, either due to their physical conditions or due to their work status, turned to coaches to understand their conditions and take charge of their health. Health and wellness coaching is a diverse sector with its niches, which include mental health coaching, flexibility coaching, etc.
Check out our Ultimate Guide to Health Coaching.
3. Executive Coaching
Executive coaching has been a popular choice for quite some time. About 788% ROI (return on investment) has been recorded by many Fortune 500 companies. These executive coaching statistics give a good idea about the effectiveness of the techniques. Executive coaches help executives and management members grow into the role of leaders and take the reigns of their team and company.
These executive coaches help executives balance their team and sustain the team balance. The coaching also helps executives set goals that are easy to attain and boost team performance.
Check out our UltimateGuide to Executive Coaching for more.
4. Business Coaching
Business coaching helps leaders understand the ideals of their business and develop plans as per the market needs and generate sustainable leads. Take Google, for example. Their business coach has helped the company build the trillion-dollar business that we see today. As of now, over 92% of small business owners have highlighted the positive impact their business had thanks to a well-trained business coach.
Business coaching is more focused on the organization and the development of the whole business as opposed to just focusing on personal growth.
Check out our Ultimate Guide to Business Coaching.
5. Intimacy Coaching
The current generation struggles with emotional intimacy. The need to rely on another human being is inbuilt in us, and we want to feel secure in the company of a special someone. But, there are emotional blocks that many people face. Intimacy coaching helps people overcome these very hurdles.
The key aspects that an intimacy coach helps with are:
● Make you feel comfortable around your partner
● Deal with any emotional trauma that leads to intimacy issues
● Develop a sense of safety when getting intimate
6. Leadership Coaching
Leadership coaching helps new leaders to understand their roles, and experienced leaders understand the changing market landscape. A recent study shows that more than 70% of entrepreneurs who have turned to leadership coaching have seen long-term results.
Leadership coaches help managers develop leadership skills so that they can manage their teams better. This coaching complements executive coaching as executives and managers, with proper guidance, can help a business to flourish and overcome any hurdles.
Check out our Ultimate Guide to Leadership Coaching.
7. Personal Development Coaching
Personal development coaching is a wider coaching skill that focuses on overall development. Personal development coaches help individuals to tackle issues that hinder their progress.
You can rely on your coach to help you understand if your business needs some changes or if your team leaders need a push toward becoming a leader. Personal development coaching is also a great way to understand the real issues that cause these hurdles to pop up.
Key characteristics of personal development coaching are:
● Self-awareness development
● Balance personal and professional lives
● Develop proper social life
● Learn to become motivated even during hardships
8. Career Coaching
One of the best ways to get that coveted job satisfaction is to get into a career that suits your personality and your skills. Different types of career coaches do just that. They will help you know which profession will suit your specific knowledge and talents. In the US, career coaches are a rage, and most of these career coaches are women. Statistics show that 70.5% of all career coaches are women, while men comprise around 29.5%.
Career coaches help you to understand the specific process that all job-hunting individuals go through. Career coaches also help by providing resume guidance and also polishing personality so that impressions can be made during job interviews.
9. Relationship Coaching
A relationship is all about communication and the development of personality. Relationships are not limited to just friends or partners. Developing professional relationships is just as important as becoming better toward your loved ones. Statistics show that over 70% of people have benefitted from opting to get coached by relationship coaches.
A relationship coach will help you know the correct etiquettes and techniques to communicate without the fear of oversharing and to set healthy boundaries in every relationship, whether it’s with a life partner, family member, or in the workplace. While the job of a relationship coach can be seen as similar to a life coach, the key difference lies in the approach. Relationship coaches specifically deal with the interaction aspect of a relationship. They will help you get into the proper body posture and develop a winning personality.
For more, check out our Ultimate Guide to Relationship Coaching.
10. Happiness Coaching
While this type of coaching might seem flimsy, the fact is that being happy is not a very easy task. People dealing with stress and various mental blockages often find it difficult to be happy on their own. Happiness coaches work towards setting goals that will help you reach that level of self-satisfaction and fulfillment, instead of seeking peace outside yourself.
A happiness coach will help you identify the hurdles that your mind often sets. You will be able to accept that happiness is a mental state of being, and you can be happy just as you are! This will help them create a plan for you that would include practicing mindfulness or maintaining a journal.
Coaching As A Career
Choosing to become a coach requires dedication on your part as well. Getting a certificate and setting up a business is the easy part of the coaching industry. The primary ROI in this sector relies on customer satisfaction. As a coach, your fame and reach will be determined by how well you have helped your clients.
Before the COVID-19 pandemic, the coaching industry generated a revenue of $2 billion globally. Post the pandemic, the need for different types of coaching has increased. People are also looking for coaches that will help them succeed or feel empowered, which requires a lot of empathy from their coach. As these are very intangible options, the empathetic nature of a coach will play a major role.
The coaching industry can be a very satisfactory job if you know when to draw the line between your professional and personal interactions. You are not meant to be a friend to your clients. Rather, you have to be their mentor and have that gentle yet authoritative take on their goals. You cannot let them skip sessions or not complete their tasks. Rather, you have to help them understand the core problem that drives them to make those rash decisions and help them find better ways.
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