The COVID-19 lockdown put a strain on many businesses in India and over the world. Industrialists, Businessowners and Budding Entrepreneurs were all badly affected and realised the need of business coaches to grow their business and life.
Growing a business during the COVID-19 pandemic or post pandemic is not easy, however with the right business coach the journey becomes far much easier. Business coaching is a western version of Guru- Shishya parampara which we had long back, about 5000 years ago that works still. Post pandemic, the need of coaching has evolved in India as compared to the other country. According to ICF (International Coaching Federation) the growth forecast for Coaching would be 5.4% year over year and is estimated to be $1.38 Billion by 2022.
Coaching plays a massive role in helping business owners to grow their business and life exponentially. So, they can be free and contribute to the economy of our country. Business coaches like Dr.Vivek Bindra educates millions of people about business growth strategies, coach Saurabh Kaushik helps top niche brands to grow exponentially, coach Rahul Jain helps MSME’s & Startups to grow faster, and so on.
Sudden demand for coaching
Post coronavirus, some business coaches witnessed around 20-50 per cent rise in the number of entrepreneurs and professionals (mostly on a personal level) taking up coaching.
It seems like we are going back to our roots of Guru-Shishya parampara and understood the need of coaching, However some organisations are still seeing this as questionable to be investing in.
Reasons for increase in demand for business coaching in India 2022:
In pandemic, the use of digital medium has been increased and now people are comfortable with it. The webinars/courses/video sessions are happening one-on-one, or one-to-many are now taking place over a video call. Coaches can connect with millions at a time and impart the strategy and execution blueprint easily.
Executive Coaching Requirement
Pandemic has changed the market/customer behaviour all over the world. Our C-suit leaders have to face many challenges like the work from home concept coupled with business uncertainties, anxiety and fear the impending economic slowdown. All of the above issues really focus on the requirement of a specialist or coach much more than they did earlier.
It's Lonely & Complex
“It’s lonely at the top” All seasoned business owners and visionaries know this to be true to a huge degree in business and life. While organisations have larger teams to brainstorm, business owners always seeks for an unbiased opinion from someone who can see the game from the outside and this is why mentoring and coaching becomes more than important.
Business Growth vs Economic Slowdown
During the pandemic, we saw many MSME’s/ SME’s/ Start-ups’ declare bankruptcy or dissolution. The condition became worse post pandemic due to the aftereffect of the economic and geopolitical situations around the world. Till date we haven’t fully recovered from this this mess. Businesses require creative ideas and innovative strategies to bounce back. This is when a business coach comes into the equation to hold their hand and get them out from where they are today all the way up to where they want to go.