The 5 Steps To Launching Your Management Consulting Business

Step Two — Have A Coach

There is nothing like the wisdom of someone who has been there/done that.

With starting any business, there are a lot of things to think about and many of them can be distracting. Focusing on little things can distract from big picture objectives which is where you really need to spend your energy.

A Fresh Perspective

The value of a coach or mentor is that they provide a fresh perspective on your real objectives. We hit walls and obstacles on a regular basis and many times that perspective gives us the insight into a solution.

It’s inevitable that we have a bad day or bad week. Having a sounding board to give you feedback will get you back on track.

Develop Your Business Plan

Most importantly a coach or mentor can be a great teammate in developing a business plan. Specifically, while you want your business plan to be ambitious, you want it to be realistic as well. It’s important to give yourself an excellent chance of success by starting with reasonable expectations. Believe it or not, unreasonable expectations can give you the idea that you are failing because you aren’t achieving the numbers you planned and, most often, it’s because those numbers were not reasonable.

Importance of Work/Life Balance

Additionally, an experienced coach understands the importance of work/life balance. When you first start out, you find yourself sacrificing weekends and vacations to keep your business rolling. What you are really doing is setting an expectation with your clients that you are at their beck and call. Yes, in the beginning every client is important, but setting boundaries is even more important. You’ll be surprised to know most clients understand if you don’t take their call on the weekend. It sends a message that you value your down time. A coach will share this type of valuable knowledge with you throughout your career.

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