The vast majority of senior professionals don’t want to “retire.” They have interesting, fulfilling work that they’d like to continue — just not at the frenetic pace of top corporate jobs. That’s why so many, lured by the promise of flexible hours, higher rates, and location independence, are intrigued by the idea of becoming a consultant or coach when they retire from their “official” career. Of course, competition for these plum positions is growing. A 2016 study estimated that there are more than 53,300 professional coaches worldwide, and the British paper The Independent pegged the number of management consultants at 500,000.
How to Become a Coach or Consultant After You Retire
Consulting and coaching — which are flexible, interesting, and often high prestige — are ideal second careers for retired professionals. But the competition can be fierce. To differentiate yourself, keep these five things in mind: 1) Give yourself sufficient runway. Any career change is disruptive to a certain extent. The more time you give yourself to plan and prepare, the better off you’ll be (1-2 years is good, and 3-4 years is better). 2) Do a skills analysis. Take the opportunity to bolster necessary skills, such as public speaking and social media. 3) Start recruiting clients. Take on a few volunteer clients on the side while you’re still employed, in exchange for testimonials and future referrals (assuming it’s a good experience). 4) Prepare your marketing. Focus first on creating a professional-looking website with testimonials, and establishing a social media presence on at least one channel, so there’s a reasonable amount of information about your business when someone searches for you online. 5) Give yourself a break. Don’t try to tackle everything at once.