Back in 2009 when I started my consulting business, I used to think consultants were only brought in to organizations to analyze problems and recommend solutions.
With a background in corporate consulting, that’s usually what I saw. A client required expertise in an area and would bring in consultants. The consulting team would start with an assessment of the situation, work with many stakeholders within the org, do the required research and deliver a solution (in the form of workshops, reports, etc.).
Around 2012 or so I got lucky when I client asked me to be her executive coach. I had no idea what coaching was but when the client said she wanted my advice on strategic planning for a non-profit she chaired on the side, I said sure.
We would talk every now and then and she would throw ideas and questions at me. I was like a sparring partner and challenged her by asking her questions and pointing her to issues she wasn’t thinking of. She found it valuable because she didn’t have the expertise to view the problem from the lens I was viewing it.
There’s a lot more to coaching than that, but my point is that the experience led me to the world of executive coaching. It took work, but there were no full-blown consulting engagements involved, no need to scramble and put together analyst teams, no reports and no workshops.
I started offering the service to others and some of them took me up on it. I realized that overall, executive coaching gave my consulting business a boost and here’s why:
✅ It was a lighter option buyers could say Yes to fast.
✅ It gave me access to decision-makers.
✅ It helped me create awareness and build trust.
✅ It helped shed light on issues the organization was facing, which allowed me to propose more detailed consulting solutions.
✅ It gave my business an added revenue stream.
I’m not saying it’s right for all consulting businesses, but consider offering exec coaching services if you think it makes sense for you.
Check out this snippet below. It’s from a larger presentation, “5 new consulting revenue streams”. If you’d like to watch it, let me know and I’ll send it to you.
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