As people's lives become increasingly complex, they often require assistance to stay on track. A life coach is a person that clients can rely on for advice and guidance to reach their goals. This career path has seen significant growth in recent years and is now an established and respected occupation. It is not uncommon for someone to seek out a life coach after their time with a therapist has come to an end.
Today, the life coaching industry is worth $2 billion and is growing at an annual rate of 5.5%, according to Forbes. It has been found that those who earn 6 figures focus their training on a specific market, offering niche training. Kristen, who hired a life coach on the recommendation of an acquaintance, describes herself as being in a vulnerable place at the time. It is important to note that there are no educational or licensing requirements necessary to promote oneself as a coach, which could lead to unintentional harm.
Let's take a look at some statistics related to the impact of the pandemic on the global life coaching industry. The size and market value of the life coaching industry has grown significantly over the past few years, with opportunities in this sector increasing as well. It is estimated that more than 90% of coaches who are just starting out fail due to not having a niche. A life coach does not tell their client what to do, but rather works with them to create change in the present moment.
They can be beneficial for both individuals and corporations, as they can help employees navigate imposter syndrome or other issues. Life coaching is an ever-growing field that can be incredibly beneficial for those who seek it out. It is important to understand the role of a life coach and the potential risks associated with this profession before hiring one.