Coaching is estimated to be a $2 billion overall industry in the U.S. that is quickly developing, as evidenced by a dramatic increase in coaches, professional coaching associations and coaching-related research. Business Coaches provide profitable insight that will help executives develop long-term and short-term goals and objectives. It mainly focuses on helping people; especially entrepreneurs substantially grow their businesses.
Business coaching statistics
According to a survey conducted by the International Coach Federation (ICF), executives and entrepreneurs who use a business coach can increase their net income by an average of 46 percent; however, further statistics reveals that 42 percent of organizations don't use a business coach. Some of the statistics on business coaching they gathered are:
70% accepted business coaching is "very valuable."
50% admit their coach as much as their best friend, spouse or therapist
12% confide in their coach more than anyone else.
62.4% developed a more intelligent goal-setting
57.1% lowered their feelings of anxiety
52.4% built more self-confidence
43.3% saw improvement in personal satisfaction
25.7% generated more salary
The insights on business coaching reveal that individuals who do use coaches do improve their chances of achievements in one way or another.
Trends in business coaching
The industry-wide research study Executive Coaching by the ICF surveyed nearly 1,000 associations coaching practice managers, external coaches and internal coaches on an assortment of subjects. All respondents agreed that leadership development programs with additional coaching will most likely be the ensuing trend throughout the following couple of years. Having an executive coach to help your professional career who will push you and hold you responsible can make you strive for success and never become self-satisfied.
Executive Coaching Will Become Even More Commonplace:
Coaching will become more of a norm in the present business environment. It will no longer be seen as something just the greatest organization’s do. It will be viewed as a fundamental upper hand as businesses grow and evolve.
Coaching market is developing day by day, the 2016 ICF study noted 53,300 coaches globally, a 12% increase from 2012 – and the coaching industry is evaluated to be esteemed over $2.4bn and growing
Providing Meaningful and Measurable Outcomes:
With the present business climate focused on ROI, executive coaching firms will need to show quantifiable and measurable outcomes. It will no longer be enough to show growth in leadership skills for executives. It will become important to connect the dots and show how the cost of executive coaching can be justified by meaningful results.
Use of social media and rise of the ‘superstar’ coach:
In such a vast market coach should be sure about and advance its Unique Selling Proposition (USP). As an industry coaching is currently more visible and ‘mainstream’ and everyone is keen to differentiate themselves; 2020 will be the year where we see ‘genius’ coaches further embracing social media to share their message.
The Angel Advisors offers an exclusive twelve-month executive coaching program in Atlanta, GA. It is aimed to C-Level executives, seniors leaders and young leaders as they prepare to assume greater responsibilities and expand their leadership capabilities.
Leadership is the backbone of a company's sustained success, and all organizations must strive to attract, hire and retain the best talent. For more than 30 years, The Angel Advisors have helped business leaders to gain self-awareness, unlock their potential and achieve their development objectives.
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