It’s a growing industry
Internationally, the business coaching market is considerable.
In the UK, 82% of respondents to the Chartered Institute of Personnel and Development’s annual survey used a business coach in 2010.
Accounting firms have now started to realise the benefits of diversifying their business to include support services to traditional accountancy practices. Studies have shown that approximately 12% of total income earned by accounting firms was of a business consulting nature.
In 2007, the total revenue generated by business coaching surpassed $1.5 billion and this trend of growth is expected to continue. Recent studies have shown that business coaching is the second fastest growing industry in the USA, second only to IT.
Business coaching will continue to grow as the need for broader business skills required for industry leaders and participants becomes more apparent.
Testimonials
These testimonials are from some of the accounting practices that have undertaken Cashflow Manager Coaching, powered by Intrinsic.
"We identified a client who was recently invoicing between $6,000 and $7,000 for a service which was undervalued and unprofitable. Through communicating the value of their service and unlocking other service offerings and implementing a business model discussed in business coaching, they recently signed their first engagement for $16,000. Their client couldn’t say no.”
“We thoroughly tested the Intrinsic model (including putting our own firm through the process), before we committed to it. The feedback from our clients since introducing them to the Intrinsic business coaching model has been fantastic. They have never had a better understanding of their business and can immediately see the benefits of a structured approach to improving their business. As an advisor, delivering the business coaching is a very rewarding and enjoyable part of our day, whilst providing another way to add value to our existing client relationships.”
“We now see the business coaching as an essential offering to our clients and every new tax client is offered the opportunity to have coaching”
“We have already achieved a solid return on our investment in the Intrinsic business coaching franchise and in the coming years it will become an increasingly important part of the firm’s profitability.”