Real Life Examples of Coaching & Consulting Businesses

Coaching Businesses

Opportunities for coaching are almost endless, however we've found the following areas tend to be the most profitable.

1. Become A Life Coach

Let's start with the most obvious and that is the life coach.

Nowadays anyone can become a life coach, but that doesn't mean everyone should!

If you happen to have some pretty amazing life experiences that you think can help serve other people, and you are in a great place in your life, then you could be a good fit.

Also, specializing in a certain area of life coaching may be a great idea. For instance, you could specialize in helping people improve their relationships.

One caveat to all of this…if your life is a total mess, then please focus on getting it in order before you start influencing other people!

The organization that manages life coach certifications is the ICF or International Coaching Federation and there are many programs that will help you get ICF certified like the National Coach Academy or the Life Purpose Institute.

2. Become A Health Coach

The next type of coach is also obvious and that is to become a health coach.

There are a few different paths you can take, however it mainly comes down to do key areas:

  1. Diet & nutrition
  2. Exercise & fitness

Furthering on from this you could also specialize in coaching with a particular sport. For example, you could become a certified running coach at the RRCA and work with long and short distance runners.

Credibility is important in the health coaching industry, therefore becoming accredited in your particular area of expertise will be important.

3. Become A Business Coach

Business coaching is becoming extremely popular these days.

Again it's full of posers pretending to offer sound business advice, even if they themselves have never run a successful business!

In my mind, it's obvious that a business coach either must currently run a successful business, or they have built and sold at least one in the past.

This goes for online AND brick and mortar businesses.

If you have built a business before in the past and you believe you can offer other people sound advice, then this may be a good fit for you.

4. Become A Career Coach

Another good option is to become a career coach.

This is especially relevant if you have worked in a popular industry and you can offer advice to anyone looking to build their career. This type of information is invaluable.

An example of this is Bryce Welker from CrushTheCPAExam.com. He  himself is a certified accountant and decided to blog about techniques other accountants can use to increase their chances of passing the CPA exam.

He had a few different ways to go as far as monetization, however in the end he chose affiliate marketing.

Now, after just 6 years, he has a multimillion dollar business around coaching accountants on how to become CPA's.

Do you have experience in a popular career path that you can use to help guide others on their own decision making as they climb the ladder?

If so, this could be your best shot at coaching.

Consulting Businesses

We've already established that consulting is more about making decisions for your clients rather than guiding them towards making the decision themselves.

Pretty much in every situation you MUST have a lot of experience in what you are consulting on.

Also, in many circumstances you should also be certified before starting your consultancy, otherwise no one will hire you!

The following are examples of consulting businesses that make sense.

1. IT Consultant

IT consultants, also known as digital consultants, focus on helping their clients with the development and application of Information Technology (IT) within their company.

Most of the time, consultants work on transition projects. A good example of this might be a bank looking to upgrade their technology and they have 3 months to get it done.

You as a consultant could come in for that one project and work with their developers to ensure the project is a success.

2. Human Resource Consultant

HR consultants help clients with human capital questions (who should stay and who should go) within their company or with improving how their internal HR department operates.

If you have worked in HR before in the past, but you're looking for more flexibility in your life, then this opportunity could be for you.

3. Financial Advisory Consultant

We're normally talking to accountants here. 

FAC's are brought into an organization to analyze the capabilities of a company in areas like of risk management and tax restructuring.

If you are a CPA or CFA, then this opportunity is for you.

4. Operations Consultant

These consultants are brought into companies to help improve efficiencies in operations. This is a great opportunity to work on multiple facets of an organization from marketing to supply chain operations.

If you have extensive experience in operations, then this could be for you.

5. Management Consultant

Also referred to as business consultants or organizational advisors, management consultants are hired to focus mainly on business strategy for the management team of a company.

If you have worked in a management position of a successful company before in the past, then this may be suitable for you.

6. Sales Consultant

This one speaks for itself. Sales consultants are hired to help train the sales team within an organization. If you have a successful track record in sales, then this could be for you.

7. Marketing Consulting

Similar to sales consultants, marketing consultants are brought in to work with the internal marketing team within an organization. This also include digital marketing like social media strategy.

If you have a strong background in marketing and advertising, then this could be for you.

Next Steps

By now it should be fairly clear which type of business you should start, coaching or consulting.

If you're set on becoming a coach, click the link below to find out how to get started.

If on the other hand, you're better suited to become a consultant, then click here to discover how to get your consultancy up and running.

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