Has the Coaching Bubble Burst?


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Has the Coaching Bubble Burst?

  1. 1. Has the Coaching Bubble Burst?<br />Presentation of research findings sponsored by <br />‘Get More Clients, Make More Money’<br />
  2. 2. What we’re covering:<br />Research findings<br />Hear from 3 real-world coaches<br />Show you what changes to make<br />How to take things further<br />
  3. 3. What’s it like ‘out there’?<br />In a survey of over 1,200 members of the Federation of Small Businesses (FSB), only a net 4% of respondents believe that business prospects will improve in the third quarter of the year, down from 16% in March<br />The survey also suggests that almost 67% of small firms are operating below capacity, with those in the manufacturing sector faring much better than service sector firms. <br />
  4. 4. Not the case for coaches<br />66.3%<br />7.1%<br />26.3%<br />
  5. 5. Are things are looking up?<br />13.8%<br />56.1%<br />30.2%<br />
  6. 6. Is it easier or harder to get clients?<br />16.9%<br />27.9%<br />43.2%<br />12.0%<br />
  7. 7. “It depends”<br />50% said they’ve changed niche, so can’t say<br />Remaining 50% are working with organisations who are seeing changes in how coaching is bought – much more focus on ROI<br />
  8. 8. How is the market changing?<br />Discussion on the EuroCoach List said Coaching is:<br />Evolving, maturing and ‘growing up’<br />A ‘distress purchase’<br />Not the right word – call it something else<br />Confused with the ‘Law of Attraction’<br />Those who were looking to ‘get rich quick’ are moving on to other things<br />
  9. 9. How is the market changing?<br />Mixed responses, some finding it easier than others to get clients<br />CoachNetwork Coaching Industry Research Survey 2009 found some doing well, others not so well and when research done in 2009, some saying market down on previous year<br />
  10. 10. What can we conclude?<br />People are different?<br />‘Coaching’ is at different stages in different markets?<br />The economy is effecting the market?<br />Some people are better at marketing than others?<br />
  11. 11. Let’s hear one coach’s experience<br /> Denise Molloy<br /> Business Coach<br />
  12. 12. What makes the difference?<br />Looked at various factors, including location.<br />Coaches in USA generally finding it easier than elsewhere and 90% said people were positive about coaching<br />“I am very clear about my market - I know exactly who I am targeting and how to reach them”<br />
  13. 13. What does this mean for turnover?<br />10.3% (13.8%)<br />79.5% (56.1%)<br />10.3% (30.2%)<br />
  14. 14. Is the market growing?<br />84.6% (66.3%)<br />7.7% (7.1%)<br />7.7% (26.3%)<br />
  15. 15. Does it make it easier to get clients?<br />35.1% (16.9%)<br />18.9% (27.9%)<br />29.7% (43.2%)<br />16.2% (12.0%)<br />
  16. 16. Easier said than done?<br /> ‘What stops coaches from running a successful business?’ Karen Williams, July 2010<br />66% people it is important to have a coaching niche, 17% do not agree, 17% unsure<br />47% are general life coaches, 51% are executive coaches, 36% are small business coaches<br />
  17. 17. Another coach’s story<br /> Nikki Wild<br /> Business Coach &<br /> Executive Coach<br />
  18. 18. What do clients want to buy?<br /> CoachNetwork Coaching Industry Research Survey 2009<br />Found that 71% of respondents did not rely on 1:1 coaching as their sole source of income<br />70% said part of their income came from group coaching, training or workshops<br />
  19. 19. How do you price what you do?<br />56.4%<br />43.6%<br />
  20. 20. Implications<br />Focus on helping clients achieve a specific outcome and have coaching as ONE of the tools you use to do that<br />Have a specific group of people in mind<br />Make sure there’s a demand for what you’re offering – don’t try and create one<br />
  21. 21. What would it take for you to get clients?<br />86% gave very specific comments like:<br />“Pick up the phone and ask for the business! Get testimonials. Speak in front of groups.”<br />“Advertising media, awareness events, word of mouth - by current participants”<br />“I need to develop some coaching products and then run group programmes to be cost effective. I believe the need for coaching still exists but that it needs to be delivered in different ways to consumers”<br />
  22. 22. What advice would you give?<br />“Really see it as a business. Understand what it means to be in business”<br />“Put together a programme that I offer over a certain number of sessions to guarantee a certain result”<br />“Define my business proposition much more specifically in terms of what customers want NOT what I think they want”<br />“Do really thorough initial research to see if there is a market <br />“Ask myself how passionate am I about coaching this group of people? Pay for expert support.”<br />
  23. 23. Let’s hear from another coach<br /> Katie Duckworth<br />
  24. 24. Get More Clients, Make More Money<br />You’ll come away:<br />MUCH clearer about who you’re targeting, what you’re offering and why<br />With insider’s tips e.g. The Marketing Triangle<br />With a step-by-step plan for what to do and in which order (cut out the clutter)<br />Knowing which techniques will work to attract the kinds of clients you want<br />Clear about how to stand out in a crowded market<br />
  25. 25. Give us 3 days and we’ll give you the skills you need to establish & maintain a solid, stable and long-term career as a professional coach<br />