10 Types of coaching and the key benefits

Online coaching has grown drastically in the past few years. Especially during the pandemic and is growing with every passing day in the post-pandemic era as well. 

Online coaching has also proven to be a lot more beneficial as well.

A few benefits of choosing coaching as a career are: 

• Cost-effective
• Freedom to work from anywhere
• Flexibility in time 
• Global exposure and presence 
• Low start-up cost
• Low overheads
• Effective communication channels
• Low investment risk and high ROI

Types of coaching

People have specialised in different areas of coaching rather than being a coach that deals with everything involving life, health, career, and finances. 

Following are some of the most common types of coaching: 

1. Life coaching
2. Career coaching
3. Leadership coaching
4. Transformational coaching 
5. Executive coaching
6. Business coaching
7. Health and fitness coaching
8. Performance Coaching
9. Relationship coaching 
10. Finance coaching 

1. What is Life Coaching?

Life coaching is a niche that is tremendously growing with time. According to figures, the global life coaching market has reached $2.4 billion and is expected to increase drastically by the end of 2022.

Unlike sports coaching, one-to-one coaching is not an absolute necessity when it comes to life coaching, which is one of the main reasons it is growing online for the convenience of both the coach and the client.

What a life coach does is greatly misunderstood and often compared to a therapist or consultant. It is a bit different from regular therapy. A great way to put what a life coach helps you with is guidance, empowerment, and improvement. 

Benefits of life coaching:

Following are the main benefits of life coaching: 

• Helping you identify your goals
• Finding meaning and purpose in life
• Boosting confidence, self-worth, and self-esteem
• Helps you in navigating your relationships in life 
• Help you achieve a balanced life 
• Re-focus your mindset on self-care
• Grief and stress management 
• Helps you become a happy and satisfied individual
• Eliminate negative thoughts and overcome your fears
• Accountability to help you achieve your goals

A few popular life coaches to follow in 2023

1. Gabby Bernstein 
2. Robin Sharma
3. Rich Litvin
4. Mel Noakes
5. Tony Robbins 

2. What is Career Coaching?

This has always been a lesser-known field but is growing every day now. Career coaching helps you in getting the support, guidance, and knowledge you need to figure out or reach your career goals. 

It had been a misconception that career coaching is only for a student who is looking to get their first job or find direction for their degree. 

Now career coaches are being consulted at all ages and stages of life. From building a CV to determining what your next step in your career should be, and whether a field is the right choice for you or not, your career coach will be there for you.

Benefits of Career coaching

Following are the main benefits of this type of coaching: 

• Helps you identify your career goals 
• Determine your aptitude to help you choose the right career
• Build confidence to define your value proposition
• Personalized advice and guidance to help you make an informed decision
• Establish realistic career goals
• Optimizing your resume to help you land the right job
• Help you learn essential skills required for today’s work environment
• Set goals and build a roadmap accordingly to help you achieve your goals
• Switch careers/jobs
• Help you prepare for your interviews 
• Accountability to keep you on track and keep you motivated

A few popular career coaches to follow in 2023

1. Bob Walker
2. Ashley Watkins
3. Krista Demcher
4. Paul Freiberger
5. Kathryn Minshe

3. What is Leadership Coaching?

Leadership coaching is very often referred to as business or executive coaching but they are very different things, mainly because leadership coaching is more about enhancing a person’s skills and abilities to lead a team, project, or organization. 

Not everyone is a born leader, and even for the ones who are, leadership can help you polish your skills further and enhance your ability to perform as a leader and achieve your vision. 

Benefits of Leadership coaching

Following are the main benefits of Leadership coaching: 

• Helps you improve your people management skills
• Gain confidence 
• Provides the type of empowerment you need
• Help you develop a new perspective and broader thinking horizon 
• Polish your communication skills
• Helps in creating a broader vision
• Setting realistic goals for yourself and your team
• Enhance your decision-making power
• Helps you strengthen your team/organization
• Developing skills such as empathy and patience.
• Stress management

A few popular leadership coaches to follow in 2023

1. Mike Bledsoe
2. Melissa Ambrosini
3. Dan Pontefract
4. Nicole Wright
5. Jamie Mason Cohen

4. What is Transformational Coaching?

Transformational coaching is a type of coaching very closely related to Life coaching. However, a transformational coach helps focuses on helping people change the way they think and view themselves. 

Transformational coaching can prove to be helpful in life, career, business, leadership, etc. The purpose of a coach is to help their client improve personal development, performance, and growth. 

Benefits of transformational coaching

Following are the main benefits of transformational coaching: 

• Improved interpersonal skills
• Increased confidence 
• Better sense of life purpose 
• Effective emotional management 
• Excell at your Career
• Explore your strengths and weaknesses (Self-awareness)
• Shifting towards an empowered perspective and mindset
• Increased motivation
• Define your own happiness and achieve it
• Accountability to achieve your goals

A few popular transformational coaches to follow in 2023

1. Andy Cahill
2. Atousa Raissyan
3. Kim Wagner
4. Sarah Willoughby
5. Bret Packard

5. What is Executive Coaching?

Both business and executive coaches offer similar coaching services but executive coaching differs in the way that it usually entails high-end business leaders, CEOs, vice presidents, directors, and managing directors. 

In all types of coaching, Executive coaching is the most tailored service which is personalized as per the needs of an individual. It is a very close and personal relationship between the coach and the person being coached. 

Benefits of executive coaching

Following are the main benefits of executive coaching: 

• Enhancing Interpersonal Skills 
• Improving relationships within the company or workspace
• Heightened Self-awareness
• Better leadership abilities 
• Improved problem-solving skills and create alternatives
• Higher level of empathy 
• Better work-life balance
• Improved job satisfaction and work engagement
• Setting proper goals with action plans 
• Accountability to achieve these goals

A few popular executive coaches to follow in 2023

1. John Mattone
2. Matthew Laffer
3. Shereen Hoban
4. Sue Weaver
5. Damian Goldvarg

6. What is Business Coaching?

A business coach guides business owners in clarifying their business goals and objectives and assists them in setting attainable goals.. Business coaching is effective because it holds the business owner accountable.

There may be countless articles on how to grow your business or how to achieve your business goals but all the businesses can not be generalized as each of them is different and has different goals and objectives. 

Similarly, all business owners have different visions. This is why you need a personalized plan and coach to help you make your business a success. 

One of the misconceptions about business coaching is that it is only for struggling or new start-up businesses. Nothing can be farther from the truth. 

Benefits of business coaching

Following are the main benefits of this type of coaching: 

• Clarify your business goals and needs.
• Can help you gain perspective 
• Help you improve and enhance interpersonal skills essential for your business success
• Take your business to the next level.
• Helps in maintaining a work-life balance.
• Revive a struggling business.
• Make a successful business an even bigger success.
• Building a new business from scratch.
• Boost confidence and improve leadership skills
• Accountability to achieve your goals

A few popular business coaches to follow in 2023

1. Nick Loper
2. Marshall Goldsmith 
3. Melinda F. Emerson
4. Matthew Kimberley
5. Jay Abraham 

7. What is Health and Fitness Coaching?

Health and wellness coaches are experts on human health, well-being, motivation, and behavior. Health coaching is also growing with every passing day. At present, it has grown to a $6 billion dollar industry.

This type of health coaching has the potential to make a huge difference in the quality of people’s everyday life. They have an excellent knowledge of diet, nutrition, and lifestyle.

A health coach is not only for the unhealthy or people dealing with chronic illnesses. They can help you in life otherwise as well.

Benefits of Health and fitness coaching:

Following are the main benefits of health coaching: 

• Maintaining physical health and fitness
• Ensuring the mental well being 
• Dealing with chronic illnesses 
• Reducing and managing stress
• Weight management 
• Trauma, PTSD, and other psychological issues.
• Minimizing chances of potential medical illnesses by guiding you towards a better lifestyle. 
• Disease management. 
• Increase motivation to achieve better health and fitness level
• Accountability (For diet etcetera to help you achieve your goals)

A few popular health and fitness coaches to follow in 2023

1. Maria Marlowe
2. Joe Condora Jr
3. Cody Higgs 
4. Katie Liberko
5. Georgia Rex

8. What is Performance Coaching?

There’s a fun fact that there is no agreed-upon definition of performance coaching. The purpose of a performance coach is to enhance the performance of an individual. For instance, it is a known fact that in sports, better mental health can lead to better performance which is also the basis of performance coaching.

A performance coach helps you to maximize your performance by enhancing and unlocking your potential. They use a series of different techniques to ensure continued improvement in the performance of their client. 

Benefits of Performance coaching

Following are the main benefits of this type of coaching: 

• Boosting effectiveness and productivity at work
• Setting realistic goals to grow personally and professionally 
• Clarity in vision and perspective 
• Identifying the root cause and providing a practical solution to overcome that
• Helps you overcome your fears
• Boost self-esteem and confidence
• Ensure good mental health 
• Better self-awareness and motivation 
• Greater resilience 
• Changing mindset towards constructive feedback
• Enhanced interpersonal skills
• Accountability to achieve better performance

A few popular performance coaches to follow in 2023

1. Michael Legge
2. Lindsay Briner
3. Blake Worrall Thompson
4. Brendon Burchard
5. Elliot Roe

9. What is Relationship Coaching?

A relationship coach can help you improve or sustain your relationships in life, whether it’s a romantic relationship, any other personal relationship, family relationship, or workplace relationship. It is not only limited to romantic relationships.

Benefits of Relationship coaching

Following are the main benefits of relationship coaching: 

• Better and improved relationships
• Finding the root cause of the issues and helping to fix them 
• Improving communication gaps 
• Learning how to deal with difficult situations
• Stress management
• Identify your wrong habits and help you fix them
• A better understanding of other people
• Empathetic approach 

A few popular relationship coaches to follow in 2023

1. Louis Morris
2. Susan Winter
3. Calvin Roberson
4. Evan Marc Katz 
5.  Jaime Bronstein

10. What is Finance Coaching?

A financial coach helps you stay on track to meet your financial goals and improve your relationship with money. A financial coach does for your finances what a life coach does with your life. A recent study shows that 55% of the people with debts decreased their amount of debt with the help of finance coaching.

They help you in a better understanding of your financial spending and saving capacity and then keep you accountable for your decisions going forward in life. They help you develop healthy financial goals and habits. A financial coach is someone who is an expert in money management and will guide you to become one as well.

Benefits of Finance coaching

Following are the main benefits of Finance coaching: 

• Better money management
• Customized financial plan 
• A better understanding of your financial (saving/spending capacity)
• Greater work-life balance
• Improved financial habits
• Better investing opportunities
• Reduced stress
• Budget tips/debt management
• A Better sense of security regarding your finances

A few popular finance coaches to follow in 2023

1. Patrice Washington
2. John C. Shin
3. Clarissa Moore
4. Dave Ramsey
5. Krystylle L. Richardson

Conclusion

Choosing your coaching is the foundation of your coaching business.

I hope this post will give you a few ideas to explore all types of coaching and pick your niche that fits best in your circumstances and interest.

And now I’d like to hear from you:

What is your favourite type of coaching from this list?

Feel free to leave a comment below.