Coaching is an ongoing relationship that focuses on helping clients achieve their goals and realize their potential. It differs from therapy in that coaching empowers already functioning individuals to higher levels of performance, while therapy treats trauma or dysfunction. The coaching process involves setting goals, developing strategies to achieve them, addressing obstacles, and creating action plans over regular sessions driven by the client's agenda. Coaching can help improve work performance and leadership skills, as well as provide measurable benefits like increased salaries and returns on investment for companies.