By Jowanna Daley
Trends to watch to seize the right opportunities in the New Year.
The outlook for life coaching businesses in 2023 is positive. In 2022, 22,263 life coaching businesses were operating in the United Sates, an increase of 6 percent from 2021, according to IBISWorld. And, going forward, the $1 billion market is expected to grow over the next five years as “consumers and businesses continue to recover from the Covid-19 (coronavirus) pandemic,” says the online research group.
As the world becomes increasingly complex, more and more people are seeking out coaches to help them navigate through life’s challenges. There’s also a high demand for career advice and guidance and support in the self-improvement and wellness segments, which continue to increase in popularity.
To thrive in this growing and changing environment, it’s essential for business owners to know the trends to watch so they can seize the right opportunities in 2023. Let’s take a look:
Changes in People’s Perspectives and Desires
People continue to seek a personalized experience, leading businesses to offer customized products and services. The life coaching industry is also affected by this trend. It calls for coaches to consider lifestyle trends, unique generational needs, and service channels in 2023.
It’s not surprising that what people do directly affects the life coaching industry. Here are three key consumer activities to consider:
1. Personal Growth and Development
People have a growing desire to take control of their lives and manage their growth and development. They know what they want but often struggle with how to get it. As a result, there is a rising demand for services that can help them navigate this process.
2. The Need for Autonomy
People want to free themselves from the corporate “handcuffs.” They want to rid themselves of the traditional work structure to do what they love and spend quality time with family, for instance. Though the rewards are bountiful, getting there is challenging, and those looking to break free will continue to seek professional support.
3. The Desire for a Career Change
Work-life balance, flexibility, and the desire to work in a healthy environment are among the top reasons people seek change in their careers. Work-life balance has become increasingly important; flexibility is critical in determining a career change. Additionally, people want to trade “corporate toxicity” for a healthier environment. The rising awareness of health and wellness is influencing people’s desire to find jobs that allow them to live healthy lifestyles.
The Lasting Effects of the 2020 Pandemic
When the pandemic began in 2020, the world was utterly unprepared. Governments and health organizations were wholly unequipped to deal with the outbreak. The world scrambled to create a plan, but it was too late. The pandemic had already spread too far. Within a year, it reached every continent and infected millions of people. As 2023 approaches, the lingering effects of Covid-19 will continue to impact our daily lives. For instance:
- There is a continued demand, desire and need for contactless service.
- People continue to need support because of Covid.
- People continue to look for better jobs.
Let’s look at each one of these more closely:
There is Still a Demand, Desire, and Need for Contactless Life Coaching Services
Contactless life coaching services will continue to be in high demand in 2023 because they provide an efficient, convenient and affordable way for people to receive coaching. Though the worst of the pandemic seems to be behind us, it is still a factor. Covid is still around, and many want to reduce their exposure.
Moreover, people are busier than ever and need a way to get the help they need without sacrificing their time. Remote coaching services allow people to receive coaching without leaving their homes or meeting in person. Additionally, contactless life coaching services are often more affordable than traditional ones, while remote services allow people the flexibility to meet with their coaches when it is convenient for them.
People Continue to Need Support Because of Covid
Millions of people died from Covid-19, and their families were not able to be by their side due to contact restrictions. That has created much grief and guilt. The pandemic also caused many to reflect on their lives, as it caused families to spend extended time together at home. The positive and negative impacts of Covid feed the need for support and heighten the demand for coaching in 2023. And that need for support spans all professions and economic classes. Additionally, people are looking for help navigating the post-pandemic world. Life coaches can help with all of these things.
The Great Resignation (Followed by the Great Remorse)
The pandemic devastated the labor markets in 2020 because businesses were forced to lay off employees. However, in 2021, employees quit their jobs in masses—”The Great Resignation.” Common reasons included:
- Feeling undervalued in the workplace
- Having a hostile or antagonistic work environment
- Not making enough money
- Needing to take care of personal situations or family emergencies
- Realizing their job no longer was a good fit for them
The coming year ushers in a twist to the Great Resignation—”The Great Remorse”—as people face uncertainty in the job market. Either way, people will be looking for guidance in their careers.
2023 Opportunities for Life Coaches
The combination of world changes since Covid and people’s reactions to it presents more opportunities for existing and new life coaching businesses.
- The barrier to entry remains low as there is not one dominating entity in the life coach space, and there’s still no governing board that oversees the industry.
- People are seeking out skills, personal development, and health and wellness support—so expect to see a rise in the demand for niches such as emotional intelligence coaching, career coaching, goals success coaching, health and wellness coaching, mindfulness coaching, and mindset coaching.
- Expect clients and potential clients to require flexibility in how you deliver coaching. As people either return to the office (or work from home), they will look for coaches with more flexibility in their office hours and offer remote coaching.
What’s Critical to Success?
Have a Strong Brand
Since the barrier to entry is so low, anyone can offer life coaching services, which leads to an increase in life coach businesses. However, consumers look for credentials and those who have proven success in the field. Therefore you must differentiate yourself in the marketplace.
Life coach clients continue to look for coaches who cater to their needs and can give them measurable results. Ensure you understand your client’s goals and have a quantifiable roadmap for them to achieve them.
Focus on Demand Areas
You will attract more clients by focusing on in-demand areas. There is a high demand for coaches who help clients:
- Navigate career changes
- Improve their personal and professional relationships
- Steer through parenting and family issues
- Manage stress
- Improve their health and wellness
- Change and grow
- Access their services (remote and/or in-person)
Stay Up-to-Date with the Latest Coaching Methods
Not only are clients looking for highly developed coaches, but it is also your professional duty to keep up with the industry. Additionally, it’s only a matter of time before our industry faces regulation (in my opinion). With the ever-changing landscape of the world, the skills that life coaches need to help people succeed will continue to evolve. Ultimately, ongoing training and certifications are critical success factors.
Compassion fatigue is a “thing,” and it’s affecting life coaches. The demand for more accessibility can put you at risk of compassion fatigue if you don’t practice self-care. Set boundaries, eat healthy, exercise, have a support network and have fun! In short, use all the tools you offer and do everything you tell your clients to do.
The world of (start-up) entrepreneurship is filled with more tasks than time to do. Automate early and often, so you spend more time doing what you love. Automation is vital for solo coaching businesses in 2023 because it can help manage and streamline administrative tasks, enabling business owners to focus on more important work. Automation can help with email management, customer management and content creation. Additionally, automation can help create efficiencies within your business, making it run smoother and allowing you to focus on growth.
Happy Holidays and Let’s Continue to Have a Positive Impact on the World
Take the time to celebrate all you’ve done this year. Starting a life coach business is challenging but oh so worth it. Remember choosing your failures is part of success. Therefore, improve one thing at a time. It’s better to reach one goal than none (because sometimes having three started means none is done). Happy New Year!
December Content Calendar
The end of the year is my favorite time of year because it’s when families gather to celebrate. It’s also the season remember those not so fortunate, providing the perfect opening for volunteering or helping an elderly neighbor. December also is an ideal time to attract clients with good content—but don’t forget to use these holidays to spread good in the world.
- Day Without Art Day. Many artists have been affected by HIV and AIDS through their diagnosis or have lost friends and colleagues. Day Without Art honors artists who’ve died from AIDS-related illnesses and the many people living with the disease. #daywithoutart
- World AIDS Day. This holiday raises awareness of HIV and AIDS and remembers those who’ve died from the virus. #worldaidsday
- International Day of Persons With Disabilities. A day that celebrates the achievements of people with disabilities and raises awareness of the barriers that they still face. It is also a day to recommit to doing everything possible to remove these barriers and to support the inclusion of people with disabilities in all aspects of society. #internationaldayofpersonswithdisabilities
- Let’s Hug Day. A special day dedicated to the joys and benefits of hugging. Everyone is encouraged to hug as many people as possible on Let’s Hug Day. Hugging is a simple, effective way to show your love and affection for others, and it has a host of health benefits, too. So go ahead and hug it out on Let’s Hug Day! #letshugday
- Make a Gift Day. There are many ways to celebrate Make a Gift Day. You can donate your time or money to a charity or give someone a special gift. You can also do something as simple as sending a handwritten card to a loved one or a friend. No matter what you do, enjoy spreading love and joy on Make a Gift Day! #makeagiftday
- International Volunteer Day for Economic and Social Development. A United Nations observance held annually on December 5 to celebrate the power and potential of volunteerism to strengthen communities and advance development. It also serves as an opportunity to recognize the contributions of volunteers to society. #internationalvolunteerdayforeconomicandsocialdevelopment.
- National Communicate with Your Kids Day. A day to spend quality time with your children and talk to them about important topics. This is an excellent opportunity to start or continue a dialogue with your children about anything and everything. #nationalcommunicatewithyourkidsday
- Put on Your Own Shoes Day. A day that encourages people to be independent and self-sufficient. It is also a day to celebrate individuality and creativity. #putonyourownshoesday
- Letter Writing Day. A day to celebrate the art of letter writing. It is a time to remember handwritten letters’ importance and enjoy writing letters to loved ones, friends and strangers. #letterwritingday
- Pretend to Be a Time Traveler Day. On December 8, pretend to be a time traveler! Talk about life in the past and rewrite your past by writing your future. Enjoy this fun and memorable day with others! #pretendtobeatimetravelerday
- Take it in the Ear Day. A day to celebrate your favorite music! Listen to your favorite songs, albums or playlists, and enjoy the music you love. You can also use this day to check out new music that you may not have heard before. Whatever you choose to do, have a great time listening to music! #takeitintheearday
- Weary Willie Day. This unofficial holiday, celebrated on December 9, was named for a homeless man who gave extended dance performances on the streets of New York City. Willie was known for his energy and optimism, which rubbed off on those who interacted with him. December 9 was chosen as the date for Weary Willie Day as it is the day after Saint Nicholas Day, a day associated with giving to those in need. #wearywillieday
- Poinsettia Day. This fun holiday celebrates the popular Christmas flower, the poinsettia. #poinsettiaday
- International Tea Day. This day is a celebration of tea, which people around the world enjoy. It presents a perfect time to practice some self-care! #internationalteaday
- International Human Solidarity Day. This day commemorates international cooperation and solidarity among all people. It aims to promote mutual understanding, respect and peace. #internationalhumansolidarityday
- Don’t Make Your Bed Day. This unofficial holiday encourages people to forgo their morning bed-making. It coincides with the shortest day of the year. The idea is that making your bed on this day is a waste of time since you’ll return to bed soon. #dontmakeyourbedday
- National Look at the Bright Side Day. A day to focus on the positive aspects of life and to find the silver lining in every cloud. It is a day to be hopeful and appreciate the good things in life. #nationalookatthebrightsideday
- World Peace Day. This is a day devoted to peace, ceasefire and non-violence. It is celebrated by people from all walks of life and religions worldwide. #worldpeaceday
- Abilities Day. Ability day is a day to celebrate the abilities of all people, recognize that everyone has powers and appreciate the contributions that people with abilities make to our society. Every person is unique and can use their attributes to make a difference. #abilitiesday
‘Tis the Season
- Hannukah: December 18 – December 26. Celebrates the Maccabean Revolt and the rededication of the Second Temple in Jerusalem.
- Christmas: December 25. Celebrates the birth of Jesus Christ.
- Kwanzaa: December 26 – January 1. A seven-day African-American celebration of family, community and culture.
Jowanna is a business and personal coach, consultant, freelance blogger, and personal brand photographer. Jowanna uses her 20-plus years of business, information technology, business analysis, and project management experience to serve solopreneurs, microbusinesses, and professionals through consulting, coaching, training, and workshops. She is also a freelance blogger who serves corporate and non-corporate clients. Visit her website at https://www.jowannadaley.com/about/.