Thrive’s Research

Pouring over several articles and research around business coaches’ obstacles and opportunities allowed us to discover some very interesting points common among the group. A couple of these issues stood out as being particularly problematic.

Ranking highest in the list of obstacles, according to 44% of the respondents, was “untrained individuals.” These are people who advertised themselves as business coaches that weren’t well trained to do so. The second biggest problem, as seen by 28% of the respondents, was “market place confusion.” This is something that logically ties to the previously mentioned “untrained individuals”  as confusion is created among buyers since they aren’t sure what a business coach actually delivers. The remainder of the obstacle list included market saturation, underpricing, competing services, and over-regulation, as seen by 10% or less of the business coaches.

When they were asked about opportunities there were again two factors that added up to be more than than the other four choices combined, just as with obstacles.

The first opportunity was “increased awareness of benefits” with 38% of the coaches choosing that as their best chance to grow business and fees. The second most popular opportunity was “credible data ROI/ROE” with 26% of the coaches seeing the ability to tie their efforts in a causal way to the desired outcomes or improvements. The third greatest response was “improved general perception” can reasonably be seen as another expression of the top choice, “increased awareness of benefits.”

What the Research Shows

Looking at both of these categories it appears that much of the coaching industry is feeling a change in their markets and buyers. The obstacles and the opportunities both indicate that the value business coaches provide needs to become clearer to the target market and validated by data and results.

When we move to the opportunities we see that there are new methods and systems for business coaches to provide greater levels of “proof” that the work they are doing is directly or indirectly resulting in the changes and improvements that they are seeking.

Measurable Results with Thrive

The measurable results the Thrive platform generates allow a business coach to have tangible levels of proof, which pushes coaches to separate themselves from the competition. Real results drive business and leave the untrained coaches behind.

Even better is the fact that this “proof” becomes a source of greater certainty; knowing what works by seeing those measurable results allows the business coach to build upon that foundation and really create a path to success. The Thrive Platform gives a business coach access to a conversational system through the ability to design the conversation they need to have with their clients and groups.

Thrive Models: Measure What Matters
Thrive’s unique blend of cognitive neuroscience and conversation design gives the personality and methods of the Coach the opportunity to shine through, while Thrive works just below the level of awareness to gather and model important “signals” that are present in every conversation. By utilizing the modeling feature, Business Coaches can deliver incredibly astute and subtle insights into the efforts and projects that are being managed by their clients.


The Thrive Difference
The Thrive Platform helps high-level Business Coaches show more clearly why they are better than the competition, and provide clients with measured results that can then be connected to the changes that were sought at the beginning of the engagement. 

With an understanding of how the cognitive and emotional factors impact the economics of the situation, they are seeking to improve, along with the connections to the behavioral changes that came about to activate the changes a Business Coach can both better show their impact and provide more clarity in their offering.

Contact us for more information or check out more blogs here.

Sources

BCC Continuing ED courses

The Business of Coaching: The Biggest Challenges and How to Overcome Them

The Gold Standard in Coaching | ICF – Global Coaching Study

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