How Do You Survive and Thrive as a Coach in an Economic Downturn?
Tuesday, March 31st, 2009With all of the negative news in the media about the economic recession, it is difficult not to question the impact of the economic downturn on coaching. Is coaching something people will cut in difficult economic times? Will people be hesitant to invest in coaching during a time of uncertainty in the market? Will my business survive this recession? The economic change that we have experienced on a global scale has, for many people, created fear, uncertainty, and inaction. All of which leave us feeling disempowered.
It is for this reason that coaching is needed now more than ever! Although, the downturn in the economy may mean that some potential clients directly affected by the slow down cannot afford one on one coaching, and that some individuals and businesses will cut down on their discretionary spending, the changing economy also brings with it many opportunities for coaches.
So how do you survive and thrive as a coach in an economic downturn? Simply step back, reassess, and find out where the new opportunities are. Consider these strategies when reevaluating your coaching business:
- Check your perspective - What is your perspective on the economic recession and what it means for your business? Does your perspective support and empower you or does it leave you feeling frustrated and powerless? What alternative perspectives can you take that will empower you in building your business?
- Look for the opportunities - What personal life issues are presenting themselves in public awareness as a result of the change in the economy? What industries and businesses are thriving despite the economic downturn? How can you add value to a group that needs you?

