Trump tweets a trade deal has been signed with Mexico to avoid tariffs

Theres no disrespect for the animal, says hunter in viral photo

Etan Patz case: 40 years without a conclusion. Until now?

Man accused of planning attack on Times Square

Mega Millions winning numbers announced for $530 million jackpot

Former cop gets 12 1/2 years for killing unarmed woman

Lesbian couple beaten by men on bus for refusing to kiss

Texas bans counties from doing business with Planned Parenthood

Judge refuses to drop war crimes case against Navy SEAL

Life coachingis all the rage. Harvard Business Review reports thatcoachingis a $1 billion a year industry, but just what is a personal coach,professional coach, or life coach and why are so many executives and individuals using them to catapult their careers, break free from 9-5 jobs, and to create better, more fulfilling, richer lives?

First, what is a professional coach? TheInternational Coach Federation(ICF) — the leading global coaching organization and professional association for coaches — defines coaching as partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential.

Second, whos using coaches? In a 2009 study of theprofessional coachingindustry by the Chartered Institute of Personnel Development (CIPD), they found that coaching was used by 90% of organizations surveyed and that even in the economic downturn, 70% report that they are increasing or maintaining their commitment to coaching. Coaching is clearly popular, but what does a professional coach do?

As with any growing profession, there can be a lot of confusion. To help distinguish fact from fiction, click through the pages to read the top 10 personal coaching myths…

Myth 1: Life coaches are professionals who can help you achieve your goals.

Fact:Some, but certainly not all coaches are professionals who can help you reach your goals. One of the problems in the coaching industry is that anyone can call themselves a professional coach, life coach, personal coach, etc. Jennifer Corbin, the president ofCoach U,one of the largest and oldest coach training organizations in the world, has said, Technically, anyone can hang up a shingle as coaching is not regulated. Many people coaching have no idea what coaching is as they havent been trained or havent been coached by a professionally trained and credentialed coach. There are schools that will offer a credential after three hours of training and people read a book or watch a TV program and decide Im a coach! As a result, the quality of coaches vary dramatically. I strongly suggest working with a coach that has been accredited by theInternational Coach Federation(ICF). The ICF provides independent certification that is the benchmark for the professional coaching industry.

Myth 2: Executive coaching is a nice employment perk.

Fact:Coaching is as much a perk to your employees as are their computers. Employees may view coaching as a value added benefit, but the successful organizations see coaching as something much more than a perk. Done right, professional coaching can drive sales, employee engagement, creativity, workplace satisfaction, and bottom line results. Wellness programs have been shown to provide approximately a 300% return on investment (ROI). In other words, companies who spend $1 in a wellness program (e.g., exercise clubs, personal trainers, smoking cessation workshops) earn $3 as a result of decreased turnover, fewer sick days, reduced health insurance costs, etc. Its no wonder wellness programs have experienced such tremendous growth — it makes financial sense.

TheROI from professional coachingis even more astonishing. According to a Manchester Consulting Group study of Fortune 100 executives, the Economic Times reports coaching resulted in a ROI of almost six times the program cost as well as a 77% improvement in relationships, 67% improvement in teamwork, 61% improvement in job satisfaction and 48% improvement in quality. Additionally, a study of Fortune 500 telecommunications companies by MatrixGlobal found executive coaching resulted in a 529% ROI. The CIPD concludes coaching is not just perceived as a nice-to-have intervention.

Myth 3: Personal coaches can only help you reach personal goals / Professional coaches can only help you reach business goals.

Fact:A good coach is someone who is an expert at helping others create positive change in their lives. For some clients, the positive change they most want may be focused on personal goals such as relationships, time management, work-life balance, stress reduction, simplification, health, etc., but other clients may be more interested in professional or business goals such as leadership, getting a promotion, starting a business, etc. An effective coach works with the client to help them live a better, richer life – regardless of their type of goals.

Myth 4: Professional coaching is for problem employees.

Fact:Coaching used to be a euphemism for youre doing lousy work, but before we can fire you we need to show that weve done everything we can to support you so we dont get hit with an employment lawsuit. No more. According to Paul Michelman, editor ofHarvard Business Schools Management Update, whereas coaching was once viewed by many as a tool to help correct underperformance, today it is becoming much more widely used in supporting top producers. In fact, in a 2004 survey by Right Management Consultants, 86% of companies said they used coaching to sharpen the skills of individuals who have been identified as future organizational leaders.

Good coaching focuses on an individuals strengths and aims to help the client achieve what they want more of in life and at work. The goal? To help the client identify and achieve their greater goals and to help them live a better life. A good coach isnt there to fix anyone, but to help the client navigate toward a more engaged and compelling future.

Myth 5: Personal coaching takes too much time.

Fact:Professional coaching is a high-leverage activity. Clients can achieve remarkable progress toward their desired future in less than an hour per month of coaching. There is a wide spectrum of how coaching is delivered. Some coaches prefer to meet one-on-one with clients in an office, but most recommend telephone sessions for the ease of use, minimization of distractions, better privacy, greater efficiency, and for (yes, apparently) better connection to the client. Best practices in coaching call for between two and four sessions per month that last at least 20 minutes and up to 60 minutes. A sweet spot for many coaches and clients seems to be three sessions per month for 20 to 45 minutes a session – a miniscule investment of time for the results achieved.

Myth 6: Life coaches are like having a good friend to bounce ideas off and to keep you motivated.

Fact:Your coach may be friendly, but they are not your friend. Your coach is your advocate. They want the best from you. They will work with you to help you reach your goals and to succeed. Your coach will hold you accountable and challenge you to grow and do more than you think you can do. They may push, pull, and stretch you in ways that may feel uncomfortable. And unlike a friendship, the coaching relationship is unilateral – it is exclusively focused on you and your goals, not the coach, his family, his golf handicap, or what she did over the weekend.

Myth 7: Executive coaching is only good for upper management / Coaching is only good for entry level employees.

Fact:Coaching is good for anyone who is motivated to create a better life. Initially professional coaching or executive coaching was for upper management, and some organizations still focus their coaching efforts on their top performers. For example, a column by the Economic Times titledA Personal Coachsays coaching is designed to help senior leaders create and execute breakthrough ideas, develop strategic pathways and set milestones. Companies across the board are similarly opting for coaching to help their high-potential executives perform in larger, rapidly-changing roles in a globalized world.

But professional coaching isnt just for the executive suite. The CIPD research study shows just under 5% of coaching is restricted to senior executives. Now, more and more companies are recognizing the powerful benefits of providing coaching to rank and file employees. For example, online shoe and clothing company , known for their outstanding commitment to creating a culture of unparalleled customer service (they even teach this throughZappos Insights), has a full-time goals coach who works with any employee – not just management – on helping them create better lives.

Myth 8: Professional coaches tell their clients what to do and give them advice.

Fact:Bad or inexperienced coaches tell their clients what to do and are constantly giving advice. Good coaches do not. Most clients realize they dont need another parent, sibling, friend, or co-worker telling you what you should be doing. Instead, coaches help their clients explore and come up with the best choices for them based on where they are and the clients vision for their future. Coaches are experts at the process of changing behavior, which is much more valuable than giving instructions.

Fact:Coaching can cost a great deal of money. Harvard Business Schools What can Coaches do for You? research whitepaper reports some executive coaches cost up to $3,500 for an hour of coaching. While this is an extreme, most personal coaches charge a monthly retainer between $500 to $2,000 a month. What this means is that either there are a lot of really stupid people wasting their money on coaching each month or they are getting results worth at least the cost of their coach. I have trouble paying $12 a year for a magazine subscription I dont read, so Im guessing coaching is paying off. According to theICF Global Coaching Client Studycommissioned by the International Coach Federation, individual clients reported a median ROI of 3.44 times their investment in coaching. Bottom line, coaching is an investment that can produce monetary rewards above and beyond the cost.

Myth 10: Professional coaching is spiritual and relies on harnessing the energy in the universe.

Fact:I have no idea what harnessing the power of the universe means, and my guess is that most professional coaches dont either. When I first started researching coaching, I was under the impression coaching involved lots of chanting, incense, meditation, and other spiritual practices. While there are many great spiritual coaches that may incorporate these practices into their session, most coaches are practical, professional, business people who are focused on tangible results, not airy-fairy mysticism. You can leave your granola and Birkenstocks at home.

First published on December 20, 2011 / 8:03 AM

© 2011 CBS Interactive Inc.. All Rights Reserved.

Robert Pagliarini is obsessed with inspiring others to create and empowering them to live life to the fullest by radically changing the way they invest their time and energy. He is the founder ofRicher Life, a community of passionate people who want to learn and achieve more in life and at work. He is a Certified Financial Planner and the president ofPacifica Wealth Advisors, a boutique wealth management firm serving sudden wealth recipients and affluent individuals. He has appeared as a financial expert on 20/20, Good Morning America, Dr. Phil, Dr. Drews Lifechangers and many others.

The series, hosted by Rocky Carroll, looks at some of the biggest cases handled by the real-life agents of the Naval Criminal Investigative Service

There was a one-time cash option of $343.9 million

The military judge ruled the maximum penalty will be life imprisonment with the chance of parole

The law, which takes effect Sept. 1, would prohibit the city of Austin from leasing a building to Planned Parenthood

48 Hours reports on the haunting 1979 disappearance of the New York boy, 6, and his familys emotional journey

The tariffs were supposed to go into effect Monday

Kobach, the former secretary of state of Kansas, met with the committee on Monday to discuss the Census

In a tweet, the president disparaged NASAs moon mission plan that his administration had endorsed

The richest and most populous state in the union was an electoral afterthought until it moved up its primary

The Democratic National Committee released a rule change that would prevent Gov. Steve Bullock from participating

They started behaving like hooligans, demanding that we kissed so they could enjoy watching

U.S. called the incident unsafe and unprofessional but the Russian Pacific Fleet blamed the U.S. for the close encounter

How do you get in? How do you get out? one Twitter user questioned

This years anniversary was more than a ceremony. It was a chance to say thank you, before its too late

Can the U.S. women take home their fourth World Cup this year?

Grammy-winning musician-composer-producer Malcolm John Rebennack Jr, better known as Dr. John, mixed blues, jazz, rock, and faux voodoo into a rich musical gumbo, until his passing on June 6, 2019 at age 77. In this Sunday Morning profile originally broadcast August 20, 2006, correspondent Russ Mitchell rode with Dr. John through New Orleans history both musical and disaster-related stopping to chat with one of the godfathers of the citys music scene, Allen Toussaint, and Cosimo Matassa, owner of the legendary New Orleans recording studio where Dr. John started playing as a teenager.

Whats the highest-grossing movie of all time? It might be one of your favorites

The new film follows Jimmie Fails journey to reclaim his childhood home in a neighborhood his family can no longer afford

In his memoir the Tony-nominated star of The Book of Mormon writes about coming from Nebraska as a drama student to New York City a fascinating and scary place, where people drink coffee at night!

Grand Jury in Georgia indicts Henry Mason on single count of issuing terroristic threat against father singers live-in girlfriend

YouTube marketing manager departs after a dozen years with Google, citing public flogging, shunning and stress

NASAs plan could make way for visits by private-sector astronauts to the International Space Station as early as next year

Uber Copter will take select members on an 8-minute flight to or from Wall St. and JFK Airport — for a $200-to-$225 price

Market experts warn the vegan meat companys sky-high stock price up 350% since its IPO last month is hard to justify

Phone companies can now block robocalls by default, but they are permitted to charge you for the service

NASAs plan could make way for visits by private-sector astronauts to the International Space Station as early as next year

Among the 11 tons of recovered trash from the 45-day project are food wrappers, cans, bottles and empty oxygen cylinders.

Researchers on border collies and Shetland sheepdogs, and examined coritsol levels in the hair follicles of both the pet and its owner

The plan seeks to increase access hunting and fishing access across 1.4 million acres of protected federal lands.

The large echo showing up on SoCal radar … is not precipitation, but actually a cloud of lady bugs … a tweet from the National Weather Service in San Diego read

Drownings are the leading cause of unintentional deaths of children ages 1 to 4

Health officials say an infectious worker at a Dunkin Donuts may have exposed customers to the disease

Federal agency warns consumers to steer clear of additional products, saying tests detected cancer-causing mineral

I cant justify leaving millions of women without access to the care they need and the ability to exercise their constitutional protected right, Biden said Thursday

Grocery chain sold two products that could pose risk of serious or life-threatening allergic reactions, FDA says

Health officials say an infectious worker at a Dunkin Donuts may have exposed customers to the disease

Interest in employer-sponsored repayment benefits grows as nations student loan debt load spirals to $1.5 trillion

The recall for the Ram 1500 trucks is due to a software error that may disable the air bags before a crash

S&P 500 sees strongest week since November as investors bet the Fed will soon cut interest rates to stoke growth

Isaiah Tuckett has a passion for baking, and before he entered high school, he made a business out of it

The series, hosted by Rocky Carroll, looks at some of the biggest cases handled by the real-life agents of the Naval Criminal Investigative Service

Real-life NCIS agents investigate the murders of a Marine sergeant and his wife 67 days after they wed. Was the motive money, was it racially motivated or was it something else? Watch NCIS: The Cases They Cant Forget, Wednesday, June 12 at 9/8c on CBS.

48 Hours reports on the haunting 1979 disappearance of the New York boy, 6, and his familys emotional journey

Audio was released in April of Tyreek Hill and his fiancee discussing how their 3-year-old son broke his arm

They started behaving like hooligans, demanding that we kissed so they could enjoy watching

In a tweet, the president disparaged NASAs moon mission plan that his administration had endorsed

NASAs plan could make way for visits by private-sector astronauts to the International Space Station as early as next year

CBS News space consultant Bill Harwood joins CBSN to discuss NASAs announcement that commercial astronauts will be allowed to travel to the International Space Station starting next year.

NASA has a message for space lovers this month: Look up

If all goes well, the landers will touch down on the moon in 2020 and 2021

These babies proudly hold photos of their former selves to celebrate their amazing progress since graduating from the Neonatal Intensive Care Unit

Jodi Huisentruit, the morning news anchor at Iowas KIMT-TV was reported missing on June 27, 1995. Mason City Police are still at work trying to solve this case 23 years later.

HBOs drama provided a devastating look at the worst nuclear accident of the 20th century. Now see what really happened.

Remembering the sacrifices made by service members in our nations wars

A look at John Needham, Jacque Villagomez and the events that led to her death

President Trump tweeted Friday a deal had been reached with Mexico and the plan to implement tariffs has been suspended.

Gearing up for a big fight in Washington, four of the biggest tech companies are increasing their lobbying efforts. Amazon, Apple, Facebook and Google are drawing out lobbyists with connections to the government as they face mounting scrutiny for alleged anti-trust violations. Kenneth Vogel, Washington reporter for The New York Times, joins CBSN to discuss.

N.Y. man held without bail for Times Square plot; Kindergartners learn ASL for classmate.

Morey Belanger has a severe hearing impairment but still goes to public school. The students there have taken it upon themselves to learn sign language. Steve Hartman has her story on the road.

The 3-year-old son of country music star Granger Smith drowned in the family pool in Texas. Drownings are the leading cause of unintentional deaths of children, ages 1 to 4. Dana Jacobson has more.

Copyright © 2019 CBS Interactive Inc. All rights reserved.

Market data provided byICE Data ServicesICE Limitations. Powered and implemented byFactSet. News provided by The Associated Press.Legal Statement.