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New Perspective on the Ever Growing Coaching Industry
By: Dr. Kate Inc
It seem like coaching is something that everyone has been talking about as the industry goes from unheard of to the second fastest growing industry in the country. Fortune magazine agrees: "The hottest thing in management today is the executive coach." Newsweek magazine chimes in with their take on coaching: ""They're part therapist, part consultant--and they sure know how to succeed in business."
However, industry growth is being sustained not across the board, but by already successful coaches. A handful of coaches have become industry figureheads while many practices fail to get off the ground.
So what is the difference between success and failure? While many believe the answer is niche markets or special branding, local author, speaker and educator, Dr. Kate Siner believes that it boils down to personal development. As a PhD in psychology, Dr. Siner transitioned a few years ago from a clinical practice to coaching. After several years in the industry she has seen many people wanting to coach take a quick training and then start a practice.
“With no industry standards, anyone can try their hand at a coaching practice. But the people that I see succeeding are those who have made a greater investment in their training and in their own personal development.”
When asked what advice she would give to someone looking to get into the coaching industry Dr. Siner replied. “3 key things - First, you have to have real passion for helping people grow, starting with yourself. Second, despite the growth in the industry, don’t expect to get rich quick. Your practice needs to grow with time like any other. And lastly, invest in training or mentoring with someone who has walked the walk and can give you the tools to at an advantage.”
Dr. Kate Siner