Is coaching a viable career - The Facts?
Life Coaching - The Career Of The Millennium
Coaching as a career has escalated in popularity since being described the career of the millennium" in 2001. A global study recently conducted by the International Coach Federation the industry's biggest organisation estimated 53,300 active professional coaches worldwide, generating nearly $2 billion in annual revenue and still growing every year.
Get Out Of The Rat Race & Use Your Transferable Skills
With the changes in the economic climate, and more pressure and demands being put on public and private sector workers more and more people are starting to explore additional career options to get them " out of the rat race' and enable them to use their transferable skills in a more productive way. This is making coaching a number 1 career choice as it enables people to help others, experience a life and career change and earn a decent living, all at the same time. This has made coaching one of the fastest growing vocational new career occupations in the world today.
Career Flexibility & Financial Independence
As a society many peoples values have changed and as a result more and more of us are craving flexibility, fulfilment and to do something meaningful with our lives. Many want to create a work-life balance and have financial security. Life coaching as a career not only provides us with an opportunity to live a better life but more and more people are starting to turn to coaches for assistance with their own life transitions, whether it be a divorce, a change of job, better health or having the courage to pursue their passion.
5000 Coaches Since 2005
Since our launch in 2005 we have helped develop over 5000 coaches and they include the following:
The CAM COACH Success In Business Model
Many training providers lure students into their training programmes with the promise of unrealistic financial rewards and false expectations of what the first year as a professional coach really looks like. Unless proven strategic steps are taken within the first 6 months of going into private practice many coaches fail in their first year.
We have learned this over years of mentoring new coaches via our CAM COACH mentoring and know step by step and month by month what a new coach needs to do to succeed in business.
The first and most important thing to remember is like any new business it takes a minimum of 12 months to get your coaching business off the ground. Therefore you need to set realistic expectations and ensure your short term strategic plan contains the top 6 steps necessary to achieve your success.
Your success is our success. We will give you the attention you need and make the resource available to ensure your future in your new career is guaranteed. As at time of writing we are the UK's most experienced and leading resource for coach success in business courses. We have helped set up 5000 coaching businesses since 2005 and continue to do so. These businesses vary from the one man band single coach in private practice, internal coaches in companies and some of the UK's most successful coaching clinics turning over 7 figures.
The coaching industry is a fantastic industry to become a part of with great partnerships, joint ventures and new experiences to be enjoyed. It has become without doubt "the career of the millennium" and as long as the right steps are taken combined with the right planning, and the right timescales you will be able to enjoy the rewards of a new career in the coaching industry earning a decent living and helping others all at the same time.
Your Six Steps To Success
1 - Identify your ideal client
2 - Create a website aligned to your ideal client market segment
3 - Choose 5 income channels for your coaching business
4 - Complete a business forecast in each of the 5 segments and commit to a 12 month income forecast
5 - Break down your appointment levels to weekly based over 40 weeks
6 - Accept the timescales to enjoy complete success is 12 months.
We have helped create businesses with new coaches since our launch in 2005 and continue to do. From our research and live experience the following is true of a coach in their first year if they follow our business model over 12 months.
Our recent survey of nationwide coaches discovered the average coach session fee is currently £100 however you can charge less than or more - the choice is yours. This is an illustration of your earning potential as a coach on a part time basis.
SOURCE CAM COACH BOOK - How many clients you can expect month by month in your first 2 years based upon the average hourly rate of 100GBP and the forecasted rate of client sessions per month. Note these are not new clients but client sessions and include programmes and repeat sessions.
Months 1-3 > 1 client per week Total 4 clients per month = £4800 GBP per annum
Months 3-6 > 2 clients per week Total 8 clients per month = £9600 GBP per annum
Months 6-9 > 4 clients per week Total 16 Clients per month = £19200 GBP per annum
Months 9-12 > 8 clients per week Total 32 clients per month = £38400 GBP per annum
Months 12-15 > 10 clients per week Total 40 clients per month = £48000 GBP per annum
Months 15-18 > 16 clients per week Total 64 clients per month = £76800 GBP per annum
Months 18 - 24 > 25 clients per week Total 100 clients per month - £120000 GBP per annum
A recent study carried out by the ICF the world's largest coaching federation found the average sessions per week for coaches 2 years in private practice was 13. At £100 per hour this equates to £52000 per annum over 40 weeks. We have found that professional coaching can be seasonal so this is a very conservative forecast.