What does the future of Business Consulting & Coaching look like?

A look at the future of Business Consulting, Coaching, and Advisory.[Everything Business Consulting Episode 70]In this episode, we look at:Business Consulting over the past 20 YearsThe current size of the Business Consulting and Coaching MarketIndustry size of “Management Consulting” in the USA - 241.6 bn in FY2021. This took a dip in 2020, thanks to COVID, where it was $236 bn. Prior to that, the industry was showing consistent year on year growth, peaking at 256 bn in 2019.Predicted to grow by 2.3% this year (FY2022).Business Coaching is worth 11.6bnStatistics provided by IBIS World, industry researchManagement Consultancies Association reported that for the first time ever, management consulting’s revenue surpassed the 11 Billion pound mark. The SME Market is under-served (Growth Potential)Long-lasting effects of the pandemicBusinesses are generally doing one of two things right nowStrugglingStress for business ownersFinancial issues with customersInsecurity for staff = low morale Can’t keep doing what they currently areBoomingOverwhelmGrowing painsPlans & strategies out the doorUnsure of how to manage finances & additional cash flowLack of supply/labor to keep up Technological changesUsing the aid of technology to talk to clientsEmail, WhatsApp groups, chat groupsMicrosoft teams, Google chatUsing technology to manage and keep track of progressSlack, Monday.com, TrelloComplex MS project, hive, teamworkMaking use of AI to analyze business. Fathom, Reach Reporting, and othersThe accepted ways of doing business are changingFundamentals aren't changing