How can you build a successful consulting business in Leadership Development?

Niching down is one of the most important aspects of business, you cannot serve everyone nor do you want to. Every business needs a leader, as you look to grow a business first ask yourself, what problem do I solve? Who has this problem? In business we have all heard the famous quote, people don't by products or services they buy solutions to problems. Who is the person you would be most excited to work with? How can you help them. If you get really clear on the person and if you would still be excited to work with them 10 years from now, start speaking to them. Is your message resonating with them? Are they are as excited to talk to you as you are to them? Get specific and clear, step 1

Finding a niche in leadership development consulting is akin to locating a well in a desert. While the broad field of leadership development can seem overwhelming, zeroing in on a specific niche allows a consultant to become a recognized expert in that domain. It's not just about narrowing focus but about aligning passion, expertise, and market demand. When a consultant leverages personal experiences and networks, they aren't just bringing textbook solutions but real-world, tested strategies. This authenticity is palpable and attractive to potential clients. In essence, finding a niche isn't just a business strategy; it's a commitment to deliver targeted, high-value impact.

I've found two approaches have worked well for me: 1. Create a specific offering that you become known for, that is easy to package/productise and take to market. In my case, I run a session called 'A Comedian's Guide to Marketing/Communication/Content/Storytelling Strategy'. It can be delivered as a 40 minute keynote or as a workshop from 75-240 minutes. It is an off the rack offering that is widely needed for many organisations and levels, and is an area I have extensive experience and expertise in. 2. Have conversations with you client to understand their key goals and challenges and custom create a learning journey for them basis their specific organisational needs.

Building a successful consulting business in Leadership Development requires a blend of expertise, networking, and adaptability. As organizations recognize the importance of effective leadership, the demand for such services grows. Here's how to thrive in this field: Establish Credibility: Continuously update your knowledge in leadership trends and methodologies. Certifications and continuous education can enhance your reputation in the field. Network Actively: Engage with industry professionals, attend conferences, and join relevant associations. Building strong relationships can lead to referrals and partnerships. Tailor Your Approach: Recognize that each organization has unique needs. Customize your programs.

As a coach you cannot take your clients deeper than you have ever been to and often the most powerful niche they can have is the biggest obstacle they have managed to overcome. That kind of experience combined with specific expertise can create the amount of value clients are happy to pay for as it can speed up their progress. It is hard to believe that someone could be a credible consultant in this field without having been in leadership positions. There are plenty of courses telling people they do not need business background in order to become a business coach which is deeply unethical and wrong. It damages the industry and endangers the future of the clients who pay for fancy packaging instead of lived experience and real substance.

In leadership development consulting, your value proposition is key. Use the “LEAD Framework” ??: 1??Leverage: Highlight unique methodologies. “Neuroscience-backed strategies for enhanced leadership insight.” 2??Expertise: Showcase your experience. “20 years coaching Fortune 500 C-suite leaders.” 3??Advancement: Underline results. “Boost team productivity by 30% in a quarter.” 4??Differentiation: What makes you unique? “Merge Eastern wisdom with Western strategies for holistic leadership.” Tip: Refine your proposition with feedback from leaders. Their insights will help ensure it answers: “Why choose you?” ??.

A powerful USP is not about the certifications we have, but the specific problems we can help the clients solve in a certain way. One of the main mistakes new consultants make is that the niche is too vague and if they managed to talk to a prospect, they often overpromise and underdeliver instead of the other way around. The more specific and personal the niche is, the more it is going to resonate with the right people and the more confident they will be as not many competitors can be better at our own story than ourselves.

While highlighting the value proposition, I also ensure to specify what I do not do and areas I do not cover. This way the expectations are better managed from the start. All my clients so far have appreciated honesty and transparency about what I can and can't offer.

When you are defining a value proposition that aligns with your authentic impact as a leader, you can start by considering two questions: 1. What action verb do you practice most on a daily basis? 2. What is your highest value or ideal as a contributor to society? The two answers combined is your 1st draft of a value proposition- an essential step to identifying a sustainable promise that you can confidently deliver upon. From here, you can further clarify your value proposition by getting specific on your unique differentiator. You can experiment with adding in adjectives and clauses to the 1st draft of the value proposition that further distinguishes your impact in the market.

I suggest you position your consultancy as a trusted problem solver that delivers measurable outcomes. One way to do this effectively is to leverage a unique approach like we do at Imperio Consulting with the "Green Beret Approach." This could focus on team adaptability, personal growth, or conflict resolution. Remember, specialization matters. Whether it's industry experience or a proprietary methodology, find what makes your consultancy unique and articulate that clearly. This makes your services more appealing and builds confidence among potential clients. To resonate effectively with your target market, keep this core message consistent across all client communications—be it elevator pitches, website copy, or proposals.

Your business is not about you, it's about your customer. You are not the main character in the story they are. The sooner we acknowledge that, the easier it is to market the business. When you speak, are you in your customers head, are you fostering emotions within them that they are saying wow, that's me, or they get it. You have a story to share, but link it back to them, again, you are not the hero in the story your customer is. Ask yourself, does your customer care about a credential or the fact that you can solve their problem?

This said, you can also consider an approach where marketing is done by your previous clients and based on their positive exepriences. Recently, during our first consultation, I asked a client how they learnt about my services, to which they said they had seen my advertisment on LinkedIn. When I pointed out that I do not do any advertising as such, it had turned our that they had read a post reflecting on my services written by a satisfied and successful company leader. This kind of 'marketing', based on quality and actual value provided to clients has worked for me really well, resulting in continuous business.

In leadership consulting, a solid marketing plan is critical. Start with a professional, user-friendly website that showcases your unique approach and proven success stories. Utilize social media like LinkedIn to share insightful content that highlights your expertise. Remember to consider referrals; a satisfied client can be your best advocate. To deepen engagement, view white papers and webinars. These offer in-depth value and position you as a thought leader. Consistency across all platforms is crucial. Each post, webinar, or networking event should amplify your unique value, allowing you to connect meaningfully with your target audience.

If you have a great service, but no one knows about it...then you have no service at all. You need to get in front of as many eyeballs as possible. I've seen many people fail because they couldn't handle the 'braggy' nature of marketing. You have to tell stories and make your product the hero. That's not bragging. That's the truth...but only if it is true ????

In leadership development consulting, strategic marketing can set you apart. Dive into “Thought Leadership 2.0” ??. Host webinars or live Q&A sessions spotlighting industry trends. Pen insightful articles and share them on platforms like LinkedIn or a dedicated blog. Collaborate with existing leadership influencers, amplifying your reach. Utilize client testimonials, turning satisfied customers into vocal brand ambassadors. Offer bite-sized leadership courses or e-books as lead magnets to attract potential clients. Tip: Always engage with feedback, questions, or comments on your content. Personalized interaction not only positions you as an accessible expert but also builds a community around your brand. ??

Staying current with research, trends, is a must. Are you learning about things you already know or are you growing and learning that enhances your ability to serve your audience? What gaps do you have in your service delivery or knowledge base? How do you grow them, so you are the right solution to your customers problem?

This is non-negotiable! A leader must continue to upskill. Isn't that what we're asking others to do by running a leadership consulting firm? Your clients and mentees should be able to trust your expertise at all times. Even at times when you need to seek clarification or learn more in order to help them, they should be confident in your leadership.

Very true. We need to invest in ourselves to get the required skills and get the success eventually. We need to have lifelong learner attitude for our growth and invest in relevant masterminds and coaching. Seeking feedback is also important as part of this process, otherwise we become isolated and can not proceed as it is desired.

If you're going to be successful, then you're going to have to walk the talk and have a growth mindset. Success is possible with lifelong learning. If you're not staying current in your field and craft as a coach, you will become irrelevant and subsequently be replaced. You can attend conferences in person or virtually. You can read or listen to books. Spend some of your morning or evening time reading articles, not only in your field, but in general. Be well rounded.

The concept of life long learning is key to anyone that wants to help others grow. You must constantly work on yourself first and study. Human behaviors are different and complex and in order to develop people you need to understand well how they think and act!

The best way to expand our network would be through the LinkedIn Audio events which are introduced recently. It's a great way of collaborating and impacting people's lives. I have found these audio events to be super powerful when it comes to expanding our reach.

In order to diversify, it may help to map the networks you are naturally drawn to, but also those that are outside your current business coverage. E.g. Attending a networking breakfast for leaders in finance may not seem a natural first choice if you are not linked to thr sector yourself, but I have seen it work in practice - as leadership development is relevant across all sectors and industries.

I have found that networking with other coaches, some in my field and many outside of my field has allowed me to share our common struggles, like connecting and growing clients and approaching a business model. Having coaches in LD outside of my industry has also shown how much of what we do is similar and that developing certain core skills is universal. Having different perspectives adds fresh ideas to my style and approach.

Being a consultant or a coach can be a very lonely journey despite the interaction with a lot of people. The entrepreneurial journey is one of the hardest personal and professional bootcamps somebody could choose. It reveals who you are, it makes you realise how much more you are capable of and no matter how much you think about an idea, it will never be perfect or even practical without testing it in the real world. Being part of a community of peers where you feel safe enough to ask and offer help, where you get energised by bouncing ideas and giving feedback to each other can make a huge difference.

- It's essential to build a personal brand as a consultant. Share your journey and experiences, both successes and failures, to connect with your audience. - Collaboration can be a powerful tool. Partner with other consultants or experts to offer comprehensive solutions to your clients. - Attend industry events, workshops, and conferences to stay updated and make valuable connections. Networking is a long-term investment. - Offer free webinars, workshops, or resources to showcase your knowledge and attract potential clients. - Always seek feedback from clients and use it to continuously improve your services. Client testimonials and referrals are gold. - Finally, enjoy the journey. Celebrate your achievements along the way.

You have to know, not hope, that you can withstand the ups & downs of coaching and consulting. It's harder than you think and there are lonely and down right depressing days and nights. You'll get tested beyond measure and there's no safety net. (at least, I never had one). If you add in the aspect of family and their support, and financial insecurity, you need to know your tolerance level for these before heading in.

Keep the journey iterative like expanding horizons to continue to sharpen every part of the practice - yourself, the market, relationship management, your solutions, partnerships, your continuous learning and simply just deliver high-quality work and keep seeking genuine feedback. From where I started and what I do today is not the same. I hope not to be where I am today but rather continue to expand my horizons and evolve.

Building a successful consulting business in leadership development requires a combination of expertise, innovation, adaptability, and a commitment to delivering higher value to clients. Here are a couple of best practices followed by top MNCs: #KornFerry is renowned for its team of leadership consultants who bring diverse expertise. They hire professionals with backgrounds in psychology, business, and organizational behavior. #CEB (now part of #Gartner) focuses on measuring the impact of leadership development programs. They use data and analytics to demonstrate the value delivered to clients. #OliverWyman focuses on ethical leadership development. They encourage cultivating leaders who prioritize integrity and ethical decision-making.