Businesses face increased mental health concerns affecting work production and the bottom line. The stressors facing individuals often result in negative emotions that affect all aspects of their lives. More and more people are suffering from indecision, procrastination, negative subconscious programs, and concern about what other people think, stopping them from reaching their full potential.
The global personal development market was valued at $41.81 billion in 2021, with projected growth at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2030. These rising numbers are not entirely surprising, considering the global stresses of the last several years.
With the world on pause during Covid-19, many people started investing more time in their own self-development. More specifically, the sudden shift away from the fast pace of everyday life opened the doors for people to focus on self-growth and alternative lifestyles as a doorway to professional success. “I believe there is a sea change,” says Lane. “I see people are taking a step back and questioning what they are doing in life. They are beginning to understand that their personal relationships and love partnerships affect their work relationships. Qualities, such as the ability to communicate, take responsibility, and have empathy, are gaining importance.”
Lane maintains that it’s not enough to have the credentials and the desire to empower people when starting a personal-growth business. Developing a branding strategy and finding the communities that will benefit from your product or services is essential.
If you want to succeed in a self-development niche, Lane stresses the need to research, know your audience and offer solutions to specific problems. It takes studying the competition to ensure you provide the most innovative, proven insights to meet clients' needs.