4 Reasons Career Coaches Won’t Make Money

I’m seeing a very disturbing trend... The need for career coaching is at critical mass. President Obama’s speech last week drove home the point Americans need to be taught the new rules to career success and employability. And if he didn’t convince you, check out these stats:

• We're at a 23-year all-time job satisfaction low according to Harvard Business School.
• 84% of Americans plan to look for new jobs in 2011 per Business News Daily.
• We have a 9%+ unemployment rate with it not expected to drop more than a point this year according to the Wall Street Journal.
• 7 1/2 months and climbing is the average length of unemployment as stated by the U.S. Department of Labor.
• 13M+ Americans are out of work according to latest U.S. Labor Statistics.

So, you'd assume career experts and educators were plenty busy changing lives and earning solid incomes, right? Think again. Career coaches are going out-of-business daily. Many exceptional career coaches aren't earning enough to get by. Why? They aren’t selling much of anything. Sure, they’ve got lots of blog readers, a bevy of podcast and internet radio listeners, tons of Twitter followers and even lots of Facebook page ‘Likes,’ but none of it is translating into clients, which means they aren’t helping as many people as they could – people who desperately need their knowledge and guidance. So, what’s the problem? Is it their:

• Coaching technique?
• Social media strategy?
• Marketing materials?
• Website?
• Lack of being an author of a print or e-book?

The answer to all of the above is...YES and NO! My name is J.T. O'Donnell. I'm the Founder of CAREEREALISM.com, a top 10 career advice site and CEO of CareerHMO.com, a web-based career development company. Prior to starting my companies in 2009, I spent 7 years building a private career coaching practice. I wrote a book, became a nationally syndicated advice columnist and traveled the country speaking to corporations and individuals on how to make ‘work’ something to look forward to. Along the way, I learned a lot about what it takes to make a solid living doing what I love: Helping others find career satisfaction on their own terms. Yet, in the last few years, I have watched the industry get turned upside-down. State of the Union for Career Coaching: It’s time to get our industry back on track! Join me for a 'State of the Union' address on the realities of the career coaching industry. I will:

1. Detail what’s happened in the last 5 years and how it's hurt our industry.
2. Explain 4 reasons why career coaches aren't earning the kind of money they used to.
3. Outline the future of career coaching as a profession.
4. Provide real examples of career coaches who are thriving in this economy.

It’s up to us to put America back to work... Whether you are a new career coach or a 30-year veteran, I promise you will find this session worthwhile. Let’s talk candidly about how we can put America back to work. See you there! P.S. – Please! Consider forwarding this information to every career coach, expert and educator you know. The more of us that come together for this interactive session – the better. We need to help each other! Sorry, this event already happened. But you're in luck, we've embedded the recorded version below. Enjoy! J.T. O’Donnell is the founder of CAREEREALISM.com and CEO of CareerHMO.com, a web-based career development company.Photo credit: Shutterstock