Why does everyone suddenly want to be a coach?

Discover why so many people are pursuing a career path in coaching lately, why that is (potentially) a problem, and advice for those trying to make it in the industry.

If you’ve spent any time online lately you’ll have noticed a growing tide of coaches vying for your attention – from life, career, spirituality, business, dating to health… there’s a coach for it. 

I met someone the other day who described themselves as a ‘Magick & Witchcraft' Coach. 

Whilst I tried to stop my eyes rolling all the way back into my brain, I can’t say I was surprised. I am aware of a high number of people seeking to enter the field and start their own coaching practice.

I often get asked about my coaching qualification from people considering that coaching school, or have potential clients reach out for support building their own coaching business. Both my mum and stepmum have even sought my input on their journeys to training as coaches! Maybe you too, are thinking about or already building your own coaching business.

This satirical post made me chuckle, “There’s nobody left to coach”, poking fun at the idea that there are more business coaches than business owners in Australia. There's a grain of truth in every joke, after all. 

As a coach, I’d be lying if I said this didn’t bother me at times. 

But clearly I am a part of this trend and a beneficiary of the boom – so I’ll keep my hypocrisy at bay.

Still, I remain extremely curious about why so many people are flocking to the coaching profession. I heard rumours of a long-running career-pivot programme where participants, after weeks of introspection and scheming, come out with a new career direction. A whopping 80% of their "graduates" find their true calling in coaching. 

Curious, isn't it? 

What is it about coaching that makes it so appealing? Is it really the most popular career pivot or business idea for people to pursue? Are so many people really meant to become coaches? Or is it a lack of imagination regarding the alternative paths available? Or is there something in the adage like teachers “Those can’t, teach” therefore those who can’t… coach?!

Let’s dig in, I have a lot to say.

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Is coaching a calling?

The founder of Animas coach training school, Nick Bolton, said after helping over 4,000 people to train as coaches since 2008 he believes the real reason people choose to become a coach is often for the ‘deeper outcomes’ that transcend the ‘expected outcome’. Deeper outcomes he describes as “emotional, spiritual, relational, axiological, self-actualising quality”.

I have to somewhat agree.

When people ask why I became a coach, I struggle to find the words to explain. When I was just 25 years old I felt like I knew I would become a coach; I just didn’t know when, or how that would happen. I felt like starting The Ask was a mission that was given to me, born from personal experiences I’d had in the world of work – I saw coaching as my solution to the problem of helping more entrepreneurial people create fulfilling work.

The majority of coaches that I meet also feel a deeper connection to the art of coaching. At least, the ones who stay the course do.

But calling or otherwise, there is money to be made in coaching. 

Despite only existing as a profession in its current form for 40 years, the impact and expansion of the coaching industry are truly impressive. The global coaching market is projected to reach $15.2 billion in 2023, up from $2.849 billion in 2019. 

I believe that the rise in coaching is due to a multitude of factors.

In today’s post I’ll explore:

• i) Reasons I believe account for the growth of coaching businesses lately

• ii) The implications I see as a result of this growth 

• iii) What you should do about it, if you are a coach or are aspiring to start your own practice

As always I welcome feedback, questions, and shares to your friends if you find this post valuable!

Why there are so many coaches today?

Before we get into the coaching industry, let’s take a step back and explore some of the macro trends surrounding it, to provide clues for our investigation.

You know the depressing Gallup stats about the number of people (or lack of!) who feel engaged at work? Well that % is barely shifting, year on year. Source.

I can say this with both a pinch of salt and (as an ex-recruiter) also with some accuracy that many jobs are a bit crap.

I believe the state of the job market for knowledge workers in the western world has let us down. Many people are working inside organisations that aren’t people-first, or in roles that are too narrow and repetitive for them to realise their full skills and talent potential. Leadership development and training programmes are often limited or ill-funded so many smart people go through their careers feeling bored, unfulfilled and coasting. 

When this is the case and the drudgery becomes too much, the most ambitious people seek alternative paths. Very often that is to branch out solo.

In my own backstory, fed up with job with narrow responsibilities and ceilings on my growth, I sought out uncapped learning by starting my own business, The Ask. Having worked in a startup accelerator I was well-aware that it has never been easier to start your own business. Costs have been driven down by the impacts of globalisation, advanced tech solutions and the mass adoption of social media and self-publishing tools. Today we can market services to people all over the world for next to no cost. You only need a laptop and good internet connection to make a living on your own. 

Coupled with the shake up of the pandemic on our lives globally, the search for pursuing a meaningful existence has never felt greater.

Life is too short to stay in a job you hate as a sentiment has never felt more true.

Tara McMullin describes society today as having a ‘Surplus Elite’ – an over-supply of educated people working in jobs below their educational level because of the lack of jobs that are a match for peoples’ skills and talents. As a result they “choose” self-employment as a response to hide from the fact traditional employment has, in essence, pushed them out. People make up jobs to keep themselves busy, and paid. 

The irony of the fact that I offer coaching as a solution to help people to build one-person businesses around themselves is not lost.

If you check my CV, you’ll notice that the three years I’ve spent building The Ask is  my longest ‘job’ yet.

That's exactly Tara’s point. We’ve had to create ways to sustain ourselves intellectually and financially. Tara writes:

This may be very meta, and even ironic, but either way, I sincerely believe that building business around your unique abilities is the solution to this lack of great jobs problem.

So clearly starting a company of your own as a knowledge worker in itself is a growing trend, but why are so many turning to coaching specifically?

Think about the appeal of coaching.

At its core, the definition of coaching is helping someone to reach their full potential and excel in every aspect of their life. It's about asking thought-provoking questions, providing helpful frameworks, and ensuring accountability to support individuals to reach new heights, whether in their personal or professional lives. 

Helping people to lead better lives is a pretty nice way to spend your own working life. It's a values-driven profession at its finest.

The reason so many people are dissatisfied with their working lives (remember the Gallup study) is that many jobs lack one of the core conditions required for employee engagement: having an impact. 

The book ENGAGEMENT MAGIC® reveals that organisations who bridge the gap between work and impact enjoy higher levels of employee engagement. If you feel your work is having an impact on people then you’re more likely to enjoy doing it. Coaching is a caring profession, not unlike being a nurse, social worker or therapist. in a profession where you are face to face with the beneficiary of your services so can see the real-time impact you are having.

But unlike the professions mentioned, coaching doesn’t bring the long hours on your feet, difficult patients or public sector pay restrictions! 

Being a coach is an appealing career at least for a particular kind of person. I love my brother dearly, but being a coach would not be for him. His PhD in Data Science tells us that in his world, working with computers beats working with people any day of the week. 

But for people who do have an interpersonal-based skillset and who are interested in fields like psychology, personal development and human dynamics then a career in coaching is inherently more interesting than many of the alternative paths available in the modern world. 

On top of this, coaching is a relatively straightforward field to enter since the barriers to entry are significantly lower than other professional services. A coaching diploma can be obtained in a matter of months, alongside a full-time job, for a reasonable cost (£2-10k depending on provider) and training providers will accept anyone to.

Compare this to something like training as a doctor (five years), architect (seven years), therapist  (six years) etc. Plus, the overheads are minimal to get started; coaching requires coaching requires little to no equipment, tech or money to offer – in its simplest form it is a conversation.

I’ve talked a lot about why coaches flock to coaching aka the supply – but it’s worth noting there is increased demand for coaching, at the same time.

I chatted with Julien Smith, CEO of Practice, the all-in-one platform for coaches to run their businesses, and he described to me how coming from Silicon Valley he’s observed that today “tons of Silicon Valley entrepreneurs now have coaches where five years ago it was pretty rare”.

Renowned coach Steve Schalffman said the same in this post about how he became a coach:

”Sure, every VC firm offered help with hiring, strategy, and financing, but they often neglected their founders' development as leaders and humans. It occurred to me that we focused solely on the outer game of entrepreneurship, overlooking the inner game. But based on my experiences with my wife and friends, I knew that the inner game was just as crucial—if not more so—than the outer game.”

We’ve seen in recent decades that culture and trends are often established in hubs like Silicon Valley and then the rest of us mere mortals eventually experience their trickle down impact and adopt its norms eventually albeit in a smaller way. Think of the majority of trends that have crossed into mainstream thresholds, they begin in these circles.

So yes it is absolutely the case that the demand for coaching is growing at the same time as its supply of coaches.

But it's a domino effect: the more coaches at work in the world… the more coaches there are likely to be as a result. Many people will experience the transformative power of coaching firsthand which then sparks something within them —a desire to create the same impact in others' lives. Suddenly, becoming a leader turns into becoming a leadership coach. 

Why?

Because it's often easier to guide others through the steps than to walk the path ourselves. The allure of strategy and thinking outweighs the challenges of doing the grunt work and execution.  

It's a seductive proposition, indeed.

What are the implications of the coaching boom, if you want to enter it too?

I recently reunited with my 2020 cohort of Animas coach graduates, and once the small talk was over, the topic was broached: who was actually making their coaching diploma work for them? 

We updated each other on where things were at three years post-qualifying and when it came to my turn to speak I felt the need to underplay my successes. Given that I was the only one coaching full time and on track for 6 figure revenues.

Whilst others had opted for portfolio careers or part-time jobs, many were merely dabbling in coaching on the side. Wanting more clients but feeling unsure about that possibility.

Coaching can be a rewarding full-time pursuit, but it's not a walk in the park to make it your full-time thing. I know this from working with clients building coaching businesses, too. 

Many factors are at play here but for the most part I think we can blame competition. With so many coaches offering their services, has the demand really kept pace, amongst businesses and consumers?

According to old data from the ICF, the average rate for coaches making $100K is $365 / hour. But Steve Schlafers’ view in his post is that coaching is only becoming more commoditized on the low-to-mid end of the market and so this rate might decrease over time. 

Earning $100k may or may not sound like a lot of money to you, but as I’ve said many times before and written about fees here, running a business is not the same as having a salary. Business owners incur costs so will be working with whatever profit remains after all is said and done. 

Do coaches struggle to make enough to sustain themselves purely because of the competition, though? 

I do not believe that competition is the biggest barrier to coaches making a full time living. There is still a huge amount of demand for coaching, and growing, so you can absolutely overcome the competition as long as you build a business that stands out.

I’ve written about how to stand out in previous posts like this one and will explore further in this post, too

The other key factors at play are when coaches struggle to charge high fees due to the pay sensitivities of their chosen niche, or if they haven't mastered the marketing and networking skills to become fully booked.

My ultimate tip for new coaches or aspiring coaches looking to make a full time living, is to have a strong plan, and then to be patient.

But it's impatience that often leads to giving up or relying on other income streams instead of wholeheartedly committing to coaching. Getting support from an experienced coach or mentor is a popular shortcut for coaches yet to make a living from coaching. PS I run a programme for coaches to get fully booked in case you’re seeking exact support with that piece, details here.

This is really something to consider, and take a pause in, before your throw your lot in to become a coach.

When you consider the low barrier to entry for coaches, many new coaches are likely to overstate their coaching abilities. Because, if you follow the frameworks for a good coaching conversion, it's easy enough to create breakthrough moments for your clients and naturally believe that as proof you’re doing a great job. 

But that isn’t enough. 

My underrated advice that should be given to new and aspiring coaches building a practice of their own? Be really good. 

Greatness as a coach is partly based on an innate combination of skills and traits, like empathy, being present, inquisitive, caring but also challenging. It’s also gained from experience and many practice hours spent actually coaching. It’s about noticing what isn’t being said, and it’s in showing up for your clients through thick and thin, being reliable, organised and taking them through a container that will truly allow them to see real results.

So, am I the most empathetic person you’ll ever meet? No. 

What I do bring to the coaching table however is that I’m highly analytical, curious, and have a great read on people. Growing up I was always in childcare or friends houses, then moved schools twice learning to start over again, understand my environment and navigate the complexities of human relationships. I lived a life of having to stand up for myself and be seen – and that helps me to be bold, not shy away from difficult conversations and questions. On top of this, I rely heavily on my structured and planning nature, and startup experiences which bring another dimension into the coaching container: business support and consultancy. 

That’s why I believe I’m a great coach – but my coaching won’t be for everyone. It’s for the people who want me to challenge them to get out of their comfort zone and build a wildly successful business as a result. 

Every coach can, and should, bring their own uniqueness to bear and develop a loyal client base of people raving about the difference made to their lives.

But if at the end of the day that uniqueness isn’t strong enough to create results for your coaching clients then building a thriving business will be hard/near impossible.

I have a new client for example, whose raw talent, ambition, credentials and network are ALL there. However, she’s come for my help as that hasn’t translated to coaching clients, yet. In just a few weeks together I have helped assess the ‘gaps’ and create a bespoke plan for her mindset, marketing and sales strategy. She’s in conversations with some dream clients and landed a podcast guest slot that is highly influential amongst her client base.

There’s another implication of the influx of coaches into the industry, which is the charlatan practices and approaches that occur when many people enter an unregulated industry. There have been some shake downs in the US amongst what are effectively pyramid schemes of coaches coaching coaches to build their coaching businesses, and when they struggle to sell ‘life coaching’ turn to coaching coaches, too.

Often, coaches are working with clients who are vulnerable or in need. This creates opportunities for manipulation and malpractice in the name of money grabbing. The BBC documentary into the Lighthouse ‘coaching’ business was one of the darkest sides of this industry I could have imagined learning about. Very shocking stuff.

Thankfully, I do see this as a small percentage of people, but like any MLM or pyramid scheme, their reach can spread far. Maggie Patterson is on a mission to eradicate this kind of behaviour in the online space and better educate consumers, for all online business but coaching is a big part of the problem! 

What should coaches, or aspiring coaches, do about this boom?

First of all – don’t panic. 

But as a coach, I rarely see anyone calling out these industry-wide themes. We just hear what a great ‘opportunity’ becoming a coach is because the entire industry is growing.

There’s more to consider.

I absolutely believe that coaches who are committed to a career path as a coach will be able to navigate the competition, and stay the course. Provided they are adaptable, keep learning and growing.

But the biggest piece of advice I can give to coaches would be to tap into your Unique Contribution. This is the summation of all the things that make you unique, your way of showing up and doing business, and what you stand for.

This will make the process much more enjoyable as you won’t lose yourself in a sea of sameness and struggle to get clients or find yourself racing to the bottom of the pricing ladder to compete. 

When you are selling coaching you are essentially selling yourself – it's your time and energy you are bringing to the relationship and where the exchange of value lies.

I spend a lot of time with client not only defining a clear niche and target client persona that makes sense for their goals, but also clarifying what is their own ‘edges’. Those edges are areas they can lean on in their work, marketing and brand. Because that’s what makes you magnetic – being more of YOURSELF and not a carbon copy of everyone else.

Knowing your Unique Contribution means you can relax – you’ll have what you need to succeed, you’ll just need to apply it. 

Because you are selling yourself, be mindful that you really need to step into your biggest, bravest shoes, and believe you can do this.

I’ve seen that this process can bring up all sorts of fears and insecurities. It’s not a journey for the faint hearted so you’d better be doing the mindset work to support you along the way. It demands a commitment to personal growth and continuous inner work. After all, how can you guide others if you're not constantly evolving yourself?

Assuming you’re still all-in on becoming a full time coach then here are my top pieces of advice for you to navigate what can be or might someday become, choppy waters.

• Get a certification. You don’t strictly have to but you won’t really know how to take someone through a transformational coaching process if you don’t have it. Having one increases the likelihood of others taking you seriously, and getting corporate clients if that's your preference

• Don’t engage in malpractice or sleazy sales tactics to manipulate people to work with you, no matter how much you need the money. Get a job if that’s a problem. Coaching has a reputation to establish and uphold if it's to increase its legitimacy and credibility – so all of our shared actions compound.

• Choose a clear problem area and/or target persona whom you’ll coach. In nearly all cases, doing so will make your life a lot easier eg doing networking, marketing, getting referrals, gaining traction and knowing your market inside-out. 

• You should also choose a ‘result’ you want to help people to create in their lives. When it comes to marketing coaching services, it's not about selling "coaching" per se. It's about selling the transformation, a breakthrough, a tangible outcome. People are more likely to invest in coaching when they can envision the positive change it will bring to their lives. Unless you're targeting companies offering coaching as a professional development benefit, then selling coaching for its own sake is challenging.

• Lean on support networks: whether through your training provider, the ICF, a coaching supervisor, a business coach/mentor, mastermind or a peer group… don’t do this work alone. There’s SO much help available if you choose to tap into it, and it can give you a better sense of your own blindspots and growth opportunities. World leading coach Jerry Colona says “you need to work on yourself so your shit doesn’t spill into your sessions”

• Be realistic about your income and expectations. Keep savings aside, expenses low, and other income streams coming in until you’re established – unless you have a safety net to support you. Some people start making £5-10k in year 1, but others can take 2-3 years (or never) reach this stage. The more of a clear plan you have, the more support and mentorship you receive, and the more positive mindset and self-belief you bring to the process the faster you’ll get there. 

Should you still become a coach?

If you’re a natural fit for coaching, are willing to work hard, have credibility and passion for it, then it’s unlikely you’ll ever want to do anything else.

It would never be my intention to deter anyone from being a coach or the incredible career path it offers. But I don’t think you should do it, however, if it's a reaction to not knowing what else to do. Or avoiding the hard work of doing something else better suited to you.

Again it may feel hypocritical of me to say this but I am going to say it anyway - we need people doing the jobs that make the world a better place and that includes solving hard problems in the fields of medicine, science, climate change, ethics, injustice… you name it. We need talented, smart and capable people tackling hard problems and coaching is in all honesty more of a luxury nice-to-have service than an urgent problem to be solved. 

Be wary of the 'shiny object syndrome' after having experienced coaching that may sidetrack you from your truest potential after seeing how 'easy' it could be to be a coach.

I absolutely see myself taking on other roles and responsibilities in my career outside of coaching. In fact, once I automate or delegate certain aspects of my role at The Ask, I'd love to take on other projects and causes. Earning all my income from coaching has required 100% focus from me for the past three years. It has not happened overnight.

Back to you…

If you turn to coaching because you are one of the ‘Surplus Elite’ who is fed up with traditional employment, and you see others making money doing it, you can’t think of anything else and you feel like you’d be pretty good at it… just consider, is that reason enough.

I would encourage you to think deeply about your ‘fit’ with coaching. Whether you work as a paid coach inside a business or start your own practice, taking on coaching should feel like a calling. It should give you a real sense of energy, purpose, and dedication to your craft. If you’ve tapped into your Unique Contribution and found this to be YOUR thing, you’ll find it an incredibly rewarding path in all senses of the word.

And for those of you who have a genuine heart for helping people and the determination and patience to see it through, know that coaching can be an incredible path. Don't be put off by joining a growing industry - there is a new playbook for work post-pandemic and you will bring something to it that no one else can.

Does the world need more coaches?

Maybe not in their droves. But does the world need more people who are lit up and excited by their work, who bring these benefits back to their clients, family and circle and set about positive changes as a result? Absolutely. 

I can’t wait to see what you create.