Executive consulting is a hybrid of classic executive coaching with management consulting aimed at the individual instead of the organization as a whole. Executive consultants blend the therapeutic techniques of coaching with specialized professional analysis to effectively teach clients how to increase performance on many different levels. Not only will clients improve their technical skills, but they become more effective leaders and communicators.
While coaches and consultants tend to “stay in their own lanes” during the course of a project, an executive consultant will generally vacillate between the spectrums to meet client needs. For example, clients may not initially know exactly what they want, so the executive consultant will use coaching skills to assess where they are and where they want to go. Conversely, clients may find that they don’t have the skills or experience to tackle a task in a timely manner. In these cases, the executive consultant may take on more of a specialist consulting role for some smaller items within the wider engagement.
Still confused?
Let’s compare this industry to another industry, Sports, Fitness, & Medicine, to help you understand the differences in practitioner training and approach.
A coach is analogous to a personal trainer. Most personal trainers are not specialized and may not have advanced degrees in fitness or sports medicine, although most will have certifications and training to serve client base. Personal trainers generally serve clients who are reasonably healthy. Yes, clients may be overweight, out of shape, and/ or managing chronic conditions, but the main point of the personal trainer is to help them improve performance, not to medically “fix” something.
With coaches/ personal trainers, the client does the majority of the work. It is possible to improve without input from the coach/ personal trainer, especially if the client is very motivated and self-aware of what is needed. That said, almost everyone finds they perform better with a coach/ personal trainer than without one because they find they push themselves more efficiently.
Consultants are analogous to medical surgeons and are at the other end of the interactive spectrum from coaches. Consultants and surgeons are educated and trained to the very highest level in their respective fields but may have little or no qualifications beyond their specialty. For example, heart surgeons, brain surgeons, and hand surgeons are all highly trained medical doctors, but they have no crossover abilities and will be useless to the average person, even for general medical questions. Likewise with consulting: a data analytics specialist will have nothing to do with debt restructuring and vice versa.
Specialized consultants and surgeons can often perform their duties with scant input from the client – sometimes clients are not even allowed to give input to the specialist – and do the vast majority of the work to fix the problem. Importantly, clients cannot improve, or sometimes even survive, without specialist intervention.
Executive consultants are like physical therapist or general practitioners, but for business instead of the body. They are typically educated to a masters’ level in their fields and also have a minimum of five years’ professional experience in their specialty subjects. Sometimes they are used like GPs, ensuring that general health is okay but referring clients to specialists for more complicated issues. Sometimes they are more on the physical therapy side of things, helping clients learn new skills and gain strength to get back in business.
In terms of interaction, executive consultants often require the most amount of work from clients. Clients are expected to not only attend regular sessions, but also complete assignments designed to help them gain control of their roles and responsibilities and achieve their goals.
What kinds of projects do Executive Consultants tackle?
Particularly in these COVID times, many clients are focusing on cash flow analysis, developing pandemic-friendly products, adjusting marketing strategies to a more virtual world, and rebalancing staff. Having an executive consultant on side to walk them through these complicated and often scary issues gives clients confidence and power to smash obstacles and embrace new opportunities.
How do you find the right fit for your needs?
A quick glance through the website or LinkedIn page should let you know if an executive consultant has the right experience for your needs. Most executives will want to see the following qualifications:
- Has an advanced degree or certifications in a relevant area, such as an MBA, a CFA, and/ or other specialized training.
- At least five years of direct experience in the industry and/ or the role for which you seek assistance.
- Is a Certified Professional Coach from a properly accredited program and/ or has advanced training in cognitive behavioral therapy or counselling.
After vetting the executive consultant for the relevant professional qualifications, you must determine if there is a fit with personalities and approach. Most reputable firms will offer at minimum an initial consultation for free and sometimes will include a first free session to help you see if their program is for you.