From top performer consultant to coach at PrepLounge

expert coaching top tips
New answer on May 03, 2022
8 Answers
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Anonymous A asked on Apr 29, 2022

Hey community,

After almost 2.5 years at a top-tier 2 firm (Oliver Wyman), I am leaving my job in the next 2 months. Although I have been consistently ranked top performer, I feel that the overall conditions (extreme workload post-covid, unreasonable partner demands, etc) are just not my fit at this moment. Besides, I have had several health problems in the past months and that was a key factor to make me look for a permanent career change.

Although I have some industry offers, to be frank, I really love consulting and working with people and, after having been heavily involved on recruiting tasks at my firm, I was thinking about moving to the coaching business full-time. I do feel that combining my work ethic with the freedom of working for myself, this could be a really interesting option.

Hence, I am looking for opinions on how to make of PrepLounge Coaching a full-time gig, given that I have not coached (for money) in the past and I am a bit afraid of how hard is to “get traction” and “get clients” in the beginning. Besides, for all the full time coaches here, I would love to hear about your routine and how you divide your time between tasks: creating cases, reviewings cv's/cover letters, doing mock interviews, etc.

Thanks a lot!

(edited)

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Angelina
Expert
replied on May 02, 2022
Digital Health start-up founder; ex-BCG; SDA Bocconi. Youtube: Angelina's Business World

Hi there!

I've seen this topic getting traction these past 2 days, so I decided to contribute as well. 

First of all, I'm sorry you've decided to leave your firm because of the work-life-balance and its being incompatible with your health - it's unacceptable, yet consultancies are still deaf to this for some reason. 

To answer your question, it's extremely hard to make coaching even a part-time gig, let alone a full-time profession, just because there are already amazingly qualified and experienced colleagues doing this, with an archive of training materials, etc. 

I try to contribute with my own unique niche perspective as a young woman, having worked in a foreign office in my fourth language, specialising in Healthcare and then leaving to found a start-up; but it's just that - unique - so it doesn't reflect the case of too many people. 

But I still love logging in here 4-5 times a week just see what topics interest candidates, because I've just launched my Youtube channel - Angelina's Business World - where I talk about the start-up field as well as consulting, so PLounge keeps me connected to my audience in a way.

But no, honestly, I wouldn't count on PLounge as a source of full-time income - there are many amazing career options that you could combine with doing PLounge part-time, depending on your interests: like an operational role at a private equity fund; M&A manager in the industry, top role at a start-up, etc. - I would do them all if I had 10 lives. 

Good luck!

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Moritz
Expert
Content Creator
replied on May 02, 2022
Unearth your spike & get the offer |ex-McKinsey | 120+ coachings & interviews @ McKinsey | ESADE MBA | Transition Expert

Hi there,

I would say it's the perfect side-gig if you're not sure yet whether you actually like it or are even good at it.

Once you figure out that this is in fact for you and that you succeed in placing candidates by providing great coaching, take a shot. In my case, I love it and I get a kick out of every “I GOT THE OFFER” message!

However, if your starting point is zero, I would be very cautious - unless you can afford to fail.

Best of luck!

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Cristian
Expert
Content Creator
replied on Apr 30, 2022
#1 rated and most recommended McKinsey Coach | 97% success rate (tracked) | Honest feedback: no sugar-coating

Hey there, 

That's a cool and honest question!

I think you should first ask yourself whether you actually enjoy coaching. I always got a lot of satisfaction from it and received great feedback even when I was in the firm, so I saw it as a natural next step once I was out. You can try it and see how it feels - maybe it will turn out you'll be great at it. 

Best of luck! :) 

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Anonymous B replied on Apr 30, 2022

There seems to be a very very small handful of coaches who seem to do it full-time and even less when it comes to tier 2.  Based on observation, they seem to invest heavily in creating a distinctive proposition/content that disproportionately attracts candidates.  Having said that, I personally think you just learn by doing and getting traction where I wouldn’t over analyse it.  You understand and develop your value proposition by seeing what candidates value from your coaching.

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Anonymous A on Apr 30, 2022

Thanks a lot for the reply, really interesting and helpful. On your take on the reduced set of coaches who do this full time on PrepLounge, is that from your own experience or "fact-based"? I am asking because I am curious if, assuming that's true, that's a result from lack of demand during weekdays or just a pure career option. On the traction part, fully agree this may be just pure overthinking on my side. Thanks a lot!

Eishan
CoachingPlus Expert
replied on May 03, 2022
Helping consulting aspirants crack the case interview and achieve thier dream job. Bain I LBS MBA I Uber I Bloomberg

Great question. I have some downtime at work and I am also looking to make this a part time gig. While some of you are very qualified and fantastic coaches, how do we new coaches get traction and leads? Any insights, tips, tricks will be great. 

Best,
Eishan 

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Ian
Expert
Content Creator
replied on May 01, 2022
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

Hi there,

Like most gig-style work it's extremely hard at first. There's a momentum effect that occurs the more you teach and as you build up materials. Be careful making this your primary source of income in the first year or two!

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Clara
Expert
Content Creator
replied on Apr 30, 2022
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

I advice you to organize coffee chats with the people you are interested, since those questions are too broad to just discuss over here. 

Cheers, 

Clara

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Anonymous C replied on Apr 30, 2022

Hello,

interview prep coaching is a fairly entrepreneurial affair with many degrees of freedom. I'd suggest you don't over-think, and just develop a value proposition, craft a clear profile and start by trial and error. Most of the top coaches here did exactly that and perfected their approach, offering and marketing over time. Just give it a try and see what works and what doesn't.

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Angelina gave the best answer

Angelina

Digital Health start-up founder; ex-BCG; SDA Bocconi. Youtube: Angelina's Business World
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