When you are ready for your encore career, executive and leadership coaching could be an excellent way for you to continue to share your wisdom and experiences.
The coaching field continues to grow. One study reported that about six out of ten organizations currently offer coaching, or other developmental counseling, to their managers and executives. Another found that up to 40 percent of Fortune 500 companies use executive coaches, and that number is projected to grow.
One reason that coaching continues to grow is because it gets results. According to the International Coach Federation’s Global Coaching Client Study, the median return on investment in coaching for business purposes is seven times the investment.
We have helped many executives, leaders, and entrepreneurs to turn leadership coaching into a fulfilling encore career. Here are the top five reasons that they mention for getting into the field:
One: Take the natural next step in a rich career. As a certified executive and leadership coach, you can take your wisdom and experiences and help others enjoy success. The successes you have achieved, and the lessons you have learned, can bring great value to others. Coaching is a powerful way to do that.
Two: Build on your passion for helping others develop and be successful. Many executives have coached people their whole careers. They feel so passionate about developing others that they want to do it full time. Coaching can be the perfect vehicle for this passion. One of our graduates told us, “I found myself getting bored because my true fulfillment came from the development of people. I wanted to do this over and over again with new groups and new challenges, and this was not feasible leading a single organization. I discovered that coaching was what I loved.”
Three: Trade burn out and lack of fulfillment for a more flexible, fulfilling lifestyle with much more control. Many coaches leave their corporate roles for coaching after burning out in the corporate environment. Coaching gives you the opportunity to make your own hours, work and live where you want, choose your clients, and focus on the types of challenges that excite you most. What’s better than that?
Four: Build on your great experiences with mentors and coaches, and help others in the same way. Many of our graduates have fond memories of working with mentors and coaches in their own careers, and want to provide similar value in return. Have you had a great experience working with a coach or mentor? Now might be a great time to help others who will benefit from your coaching and guidance.
Five: Don’t get caught in the next downturn, or by hidden or not-so-hidden age discrimination. By getting certified now as an executive and leadership coach, you have what we call a flip-the-switch business that you can turn on and start up at any time. Coaching doesn’t take a lot of start-up capital or overhead, and you can even offer coaching on the side while working as an employee. Don’t be ambushed by your employer or the economy. Prepare now by having your plan in place and by being ready to go.
If you are a looking for an encore career, join the Center for Executive Coaching’s Certified Executive Coach training program. We give you practical, results-driven tools and methods so that you succeed. Join our executive coach certification program today, and love what you do soon after.