Trends to watch in order to seize the right opportunities in 2023

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:

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.

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.

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.

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 and that is why the ICF is so important to the Coaching 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 via Zoom/Skype or Whatsapp.

What’s Critical to your Success as a Life Coach?

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 high level credentials and those who have proven success in the field. Therefore you must differentiate yourself in the marketplace.

Personalize Services:

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 road-map 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
  • Navigate limiting beliefs and re-framing mindsets
  • Improve their personal and professional relationships
  • Steer through parenting and family issues
  • Manage stress
  • Improve their health and wellness and mindsets
  • Change and grow/transformations
  • Access their services (remote and/or in-person)

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Train with Recognised and Accredited 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. 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.

Starting a life coach business is challenging but oh so worth it. Setting yourself up with great training by reputable and recognised organisations will lead you to quality training and quality clients. Dont look for cheap, short alternatives. 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!