Do you want to know what could be the future of coaching industry in India? In this podcast, I share a strategy that will make this sustainable.
To your freedom,
It has been a decade-long journey since I entered the training and coaching business. In this podcast, I want to share with you my vision for the next 10 years and how you can stay ahead. Success in this field requires adapting to rapidly changing dynamics. Fortunately, the training and coaching industry in India has matured and evolved significantly in the last 3 to 4 years, and it will continue to improve in the future.
When any industry grows, it tends to attract a lot of noise. Just like the influx of MBA programs in colleges across India, there are now numerous training and coaching options available. However, there is a stark difference between pursuing an MBA from a reputable institution compared to a regular polytechnic college in a city. Similarly, the training and coaching industry has experienced a boom in the last 3 to 4 years, but it has also attracted substandard content and unqualified players looking to make a quick buck. These individuals invest in advertisements to promote their offerings without delivering substantial value.
Thankfully, many of these substandard coaches have failed to endure, while those who have consistently provided value and achieved results for their students have stood the test of time. In the coming decade, I foresee the industry becoming even better. The market will gain the maturity to discern who they want to work with, distinguishing between genuine professionals and those offering empty promises. Gradually, the industry will regulate itself, enabling customers to make informed choices.
By "better," I mean that individuals with limited knowledge about the training and coaching industry may initially fall for misleading ads and waste money on inadequate products. However, when they eventually seek out coaches and trainers who genuinely make a difference, they will gravitate towards them and consider their communities as their new homes. It's akin to nomads exploring various towns and villages before finally finding a place where they feel comfortable and settled.
Now, this is what's currently happening, and I'm observing it because I've been in this industry for over a decade. In the first five years, I was involved in running campaigns promoting individuals like Robert Kiyosaki, Tony Robbins, Brian Tracy, and many others. I primarily served as a service provider and the driving force behind successful campaigns for notable figures in the personal development world, including Tony Robbins and his UPW events. We handled promotions from the years 2015 to 2017 consecutively. However, in the last five years, as I record this podcast, I've been actively engaged in the field, doing the work myself.
At present, our learning management system has over 100,000 learners, and we have been able to create numerous success stories, generating hundreds of six-figure earners and more. Therefore, I'd like to share my personal journey from the past five years. I've come to realize that for a coach or trainer to thrive in the market, they must actively participate day in and day out, receiving continuous feedback from their community, and consistently improving and adapting their systems. Without these elements, they will struggle to sustain themselves.
By being deeply involved in the game, coaches and trainers can gauge the pulse of their community, making continuous improvements based on the feedback received. This applies to various coaching niches, such as business, career, health, wealth, stock market expertise, relationships, arts, creativity, and more. The crucial first step in this game is to start building a community, rather than solely focusing on selling products or programs. Creating a community model should be the primary goal.
The second step is to deliver results for your community. How can this be achieved? By gamifying the entire experience. This entails setting up three to four significant milestones that members must cross to attain a "superstar" award. In my case, I have implemented a World Champion award and a Hall of Fame and Freedom Finish award, with four levels of gamification in this journey. Therefore, step one is to build the community, step two is to gamify it, and step three is to collect feedback from the community.
As students achieve results, like those who enter my Hall of Fame, I organize Hall of Fame mastermind sessions to gather ideas from these members. I recognize that the best ideas often come from my own students, rather than solely relying on my own insights. Over time, this Hall of Fame mastermind has evolved into a quantum mastermind, where I exclusively work with the top 100 coaches in our country. During our monthly mastermind calls, we exchange ideas, creating an open and structured format. The collective consciousness and shared ideas within this mastermind contribute to overall progress.
In summary, step one is to build a community, step two is to gamify that community to achieve results for its members, and step three is to tap into the power of the mastermind within your community. By following these steps, coaches and trainers can continuously improve and find new ways to implement their ideas based on the valuable feedback received.
The way I see the training and coaching industry evolving and growing is that coaches and trainers who can apply this three-step process I just shared will quickly adapt to the fast-changing times. They will be more relevant and attuned to their audience, and their audience will be more attuned to them due to their persistence, consistency, and continuous evolution of their own model.
What I used to teach in 2018 and 2019 has drastically changed compared to what I teach now. In fact, it has become simpler than ever before. The number of people achieving results in our community is growing at a massively fast pace. There are currently around 50 to 60 people waiting for me to interview, and I haven't had the time to document my Hall of Fame interviews. I have become the bottleneck in this process. As a result, we are conducting group sessions and organizing live events to felicitate and give awards to multiple people at once. These initiatives have been made possible because of the effectiveness and simplicity of the model we have created.
Now, let's revisit the original point: Where do I see this industry heading in the next 5 to 10 years? Firstly, those who are building communities and innovating around them will stand the test of time. On the market side, students who learn from various trainers and coaches will gravitate towards those who align with their value system. If trainers or coaches only focus on their knowledge or information as their unique selling point, they are already at a disadvantage. They can be replaced by tools like ChatGPT and other sources that provide better information. Instead, it's crucial to engage the community, establish transparency, and build trust with the audience by being vulnerable, sharing mistakes, openly discussing what's working and what's not, and creating an environment where every community member feels they are part of something greater than just acquiring information.
Over the past five years, particularly the last one to two years, I have witnessed a higher level of commitment from the members in my internal lifestyle hub community. The stickiness and engagement have improved compared to the first two years. Some of the students from my early years in the game are less active now, which is understandable as I was just starting out at that time. However, with better systems and processes in place, people are finding better alignment with what they seek. Many of them are achieving results and feel a strong sense of belonging within the community.
So, one of the reasons this is happening is not just because of gamification, but also because of the open-hearted conversations and collaborations that I'm fostering among community members, creating a family-like bonding atmosphere. I'm establishing an environment where a strong code of honor, mutual respect, and trust for one another prevail. We're not here solely for self-promotion; instead, we're here to help and support each other. That's the vibe of our entire community. Building a culture like this takes time.
Returning to the original point, if you're a trainer or a coach and you're not creating cultures where people want to be with you, not just for what you teach – it's not about information – but for the experience you provide, that will be more sustainable. Relying solely on information will only be a matter of time before someone with better information surpasses you or attracts more people to them.
The success of a knowledge business or coaching business is not about information, the latest trends, market strategies, or tools. It's about a bigger mission and purpose. In my case, our strong mission is to redefine the education system by creating a new breed of teachers and leaders. We are effectively an academy for digital leaders, equipping them with knowledge, skills, mindsets, and tools to succeed. While we can't officially call ourselves a university, as we are an alternate education system, we function as a university for digital leaders.
What I'm trying to convey is that the future of coaching industry in India will go beyond knowledge. It will revolve around communities, gamification, and activating these communities to generate the best ideas from within. Facilitating transformations and collaborations with a focus on student results should be your top priority. If your results, sales, and profits are at the forefront of your business plan, it's only a matter of time before someone else replaces you. However, if you prioritize your students' results and consistently create success stories, you'll elevate your game to the next level.
I hope you found this podcast useful. Share your comments below and let us know your thoughts. If you're not yet part of my diamond membership, consider upgrading. You can find the link in the description. Additionally, if you're interested in attending my next webinar, visit sidz.co/live. I'll see you in the next episode.