The Explosive Growth of Business Coaching, What's Driving it?
Bill McDermott
Founder and CEO @ The Profitability Coach | Profitability You Never Thought Possible | Exit and Legacy Planning for Boomer and Gen X business owners | Strategic Growth Reviews
The global coaching industry is booming! Revenues soared by 62% from 2019 to 2022, reaching $4.564 billion. With projections for the online coaching market to hit $11.7 billion by 2032 (growing at 14% annually), there's never been a better time to explore what’s fueling this remarkable growth.
Here are the top three drivers reshaping the coaching landscape:
1. Technology and Accessibility
2. Leadership Development & Talent Retention
3. Changing Workforce Dynamics
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Why Business Owners Are Turning to Coaches
From leadership development to strategic planning and adapting to rapid technological changes, business owners see coaching as a game-changer. The benefits are clear:
However, some remain hesitant due to cost or skepticism about tangible results. As the industry continues to mature and prove its value, these barriers are slowly fading.
Whether you're a business owner, a corporate leader, or an aspiring coach, this is an exciting time to be part of a thriving industry that’s empowering businesses and individuals alike.
What do you think? Are you seeing these trends play out in your world? Let’s discuss in the comments!
#BusinessCoaching #LeadershipDevelopment #CoachingTrends #WorkplaceInnovation #TalentRetention
I can write your book for you -- Build your authority with a book | Written 8+ books for different industry leaders | Regularly sharing writing tips
1dThe good thing is that a greater number of people are accepting the fact that they need help and guidance on an ongoing basis. It’s like some people have a fitness coach. When you have a business or life coach working by your side you avoid the usual pitfalls and blind spots because someone already knows about them. This saves you time and money. Instead of dealing with problems, you’re focusing on your growth.
Business Valuation, Appraisal & Advisor Guiding Clients to Winning Decisions 🔷 Acquisitions, Mergers, Exits, Investments, Compliance, & Reporting, Emerging & Bio Tech 🔷 Speaker & Writer 🔷 CFA, ASA, ABAR, BVIUK, MBA
2dI think business coaching’s legitimacy has transformed positively in the past 25 years. In many cases it has become a necessity because companies don’t train they way they used to and executives aren’t as interested in mentoring as they once were.
Helping coaches grow their audience and sell their programs with engaging emails, newsletters, and articles
1wCoaching is the best way to help people and grow. You might say it's the only way. Unless someone really just wants to make all the mistakes for themselves and slow their growth.
TEDx, Keynote & Motivational Speaker | Author | Business Coach for speakers and aspiring speakers | Founder & CEO at 100 Lunches & 100 Speakers| 40 under 40 Business Elite | People Connector
1wIt's inspiring to see such significant growth in the business coaching sector, Bill. Your insights highlight how crucial coaching is for leaders navigating today's challenges. 💜
Author, Pricing and Business Development for Professional Services Firms, Podcast Host and Producer
1wGreat point, Bill, about coaching offered as a benefit to attract and retain talent. Excellent post!