Question 1

What is business consulting executive coaching and how will it benefit me?

Accepted Answer

Generally, an executive coach provides a safe, confidential, and supportive environment to help executive level leaders:
improve their overall leadership effectiveness and decision-making skills.
maximize their productivity and potential to achieve personal goals through implementation of effective routines such as task prioritization and responsibility delegation.
overcome personal challenges.
gain self-awareness of their strengths and weaknesses; and  
develop strategies for personal and professional growth through assessments, feedback, goal setting, skill-building exercises, and accountability systems.

An Executive Coach that specializes in business consulting will, in addition to the services outlined above, provide leaders and leadership teams with: 
expert advice, guidance, and support to set goals, create clear strategies, and write actionable business plans.
assistance in achieving the organization’s goals. 
insights and analyses to enhance overall performance and uncover workable solutions to the problems; and
guidance on budgeting, forecasting, and managing cash flow.

Business consultants are typically hired by companies to address various challenges, such as improving operations, increasing efficiency, expanding into new markets, developing strategies, implementing organizational changes, or solving specific business problems. They analyze the current state of the business, identify areas for improvement, and provide recommendations and solutions to drive positive change.

While most business consultants will primarily focus on the overall improvement of an organization and most executive coaching will primarily focus on enhancing the leadership capabilities of individuals, a business consulting executive coach will do both.

Question 2

How do I know if hiring an executive coach is right for me?

Accepted Answer

Hiring an executive coach could either be a valuable investment in your personal and professional development or a complete waste of your time and money. To determine if hiring an executive coach is the right decision for you, consider the following factors:

Have you identified one or more specific goals you hope to achieve through executive coaching or the problem(s) you want help solving?  Whether you’re seeking to enhance your leadership skills, improve your communication abilities, or overcome specific challenges, being crystal clear on what it is you’re seeking will help you assess whether an executive coach can effectively support you in reaching your objective(s).

Are you completely willing and open to personal growth and change?  Executive coaching often involves exploring your strengths, weaknesses, and areas for improvement. It requires a degree of self-awareness and a readiness to receive feedback, challenge your assumptions, and adapt your behaviors. If you're willing to engage in self-reflection and make positive changes, executive coaching can be extremely beneficial.

Could you instead find the resources and support you seek from within your existing professional and personal connections?  If you have a strong network of mentors, colleagues, or peers who could provide you the guidance and support, you may very well already have available to you the assistance offered by an executive coach. However, an executive coach could be a valuable addition to your support network if you feel that you want complete confidentiality and seek an objective, fresh, unbiased outside perspective to check your thinking from an experienced coach.

Is the expected return on your investment sufficient? Executive coaching involves both a time and financial investment. Therefore, it's important to evaluate whether the investment is within your budget and whether the goals you seek are worth the investment.  If you cannot commit sufficient time and energy to fully engage in the coaching process, the timing might not be right for you.

Ultimately, the decision to hire an executive coach depends on your unique circumstances, goals, and resources. It may be helpful to consult with trusted mentors, colleagues, or professionals who can provide guidance and insight as you make your decision.

Question 3

What is a typical executive coaching process?

Accepted Answer

The executive coaching process will vary depending on the specific needs of the individual being coached and organization in need of business consulting. The typical steps of the executive coaching process are as follows:

Assess the ‘fit’ for working together and to clarify overall expectations for the coaching engagement.
Define clear, specific, and measurable goals that the client wants to achieve through the coaching process.
Collect relevant data needed to understand the issues and challenges associated with the goals.
Rigorously analyze and transform data into useful information until the root cause problem impeding achievement of the goal has been identified.
Brainstorm a wide range of possible solutions to the root cause problems and associated symptoms.
Establish criteria to evaluate and select a short-list of possible solutions from the range of brainstormed possibilities.
Assess the risks and probable unintended consequences of the top short-listed solution possibilities and select the best solution to achieve the goal.
Develop a clear concise realistic and effective plan of action (outlines specific steps, strategies, and activities) that must be undertaken to achieve the desired outcome.  These steps will set forth the measurable milestones to track progress.
Use the milestones to track progress and help the client explore their challenges, gain new perspectives, and develop strategies for growth and improvement through regular one-on-one coaching sessions.
Provide specific feedback, guidance, best practice recommendations, resources, tools, and exercises to help leaders and organization enhance and improve their skills and competencies.
Measure and track progress towards the defined goals through a clear accountability system and identify any barriers or challenges that need to be addressed and resolved.
As the coaching engagement nears its end, key-learnings are reflected upon, and achievements celebrated whereupon a wrap-up occurs including a final assessment and evaluation feedback shared.

It's important to note that each executive coaching process is highly personalized and adaptable to each individual and organization.

Question 4

How do you measure the progress or success of your consulting or coaching engagements?

Accepted Answer

An essential component of our executive coaching process includes setting clear client expectations and identifying waypoints and milestones to track our progress.  We schedule frequent feedback sessions to ensure we are meeting and, where possible, exceeding clients’ expectations.

Question 5

How long does executive coaching typically last?

Accepted Answer

Our goal is to teach our clients the skills they want and need to feel confident and competent to end our coaching and consulting engagement within 3 to 9 months.  Historically, most of our clients are repeat clients who engage us from time to time to assist with new projects, problems, and opportunities.

Question 6

How much does executive coaching cost?

Accepted Answer

The amount we charge varies by the type of assignment and required duration to meet executive ojectives.  Any amount we charge is designed to provide a clear, definitive return on investment to our clients.  We care deeply that our clients love the outcomes we help them achieve.  Referrals have been, are, and will be, the form of payment we value most.

Question 7

Why should I use an M&A advisor when I want to buy or sell a business?

Accepted Answer

First, it’s because terms matter as much, if not more than, price.  For example, if someone offered you $1 million for your 2018 Lexus that you know to be worth $50,000, how quickly would you accept the offer?   How would you feel, if after signing the paperwork, you found out that the “small print” set forth terms that the buyer would be paying you $1 per year for one million years?   Most business owners have limited experience selling their own businesses; they might do so once or twice, perhaps three times in their career.  This is far different than the experience of someone who has negotiated a hundred or more sales or acquisitions of businesses.  There are very few principals who, on their own, rather than through an intermediary, will be able to negotiate price and terms that are ideal. Many who attempt it live with regret.

Second, it is almost impossible for most principal owners to keep their emotions from clouding their better judgment when buying and selling a business.  By using a third-party intermediary, you will keep your emotions from clouding your better judgement and giving away terms you most likely will regret later.

Third, using an agent to negotiate on your behalf allows you time to think and strategize before responding or committing.  In the middle of any negotiation, it is extremely difficult to avoid having to make decisions on the spot in the moment, when pressed.  It is almost always best to have someone without final decision-making authority be the intermediary.  A well-trained negotiator will present your best interests and give you the time and opportunity to think carefully about how to respond to each negotiating point at every stage of a transaction.

Question 8

Why would I hire Pierre Gallant as an M&A advisor instead of only hiring an investment banking firm?

Accepted Answer

In most circumstances, sellers of a business would benefit from having a fiduciary represent them to ensure they don’t get fleeced by the ‘wolves’.  While there is an important role for investment bankers to play in many deals, most of them have a suitability standard rather than a fiduciary standard when they represent you.  This means you are still on your own to watch out for your own best interest.  Given that few business owners sell more than one or two businesses in their lifetime, most investment bankers will not interact with you as a seller again.  Conversely, most acquirers of businesses will be repeat buyers and it is from their proceeds that an investment banker receives their payments in the form of commissions.   For typical investment banking fee structures, there is comparatively little extra money paid to an investment banker if they convince you to negotiate and hold out for an extra million dollars or two in purchase price.  From a time-value of money and a ‘bird-in-hand is better than one in the bush” mindset, few investment bankers will by action represent a seller’s best interest.  They would rather stay in the good graces of the buyers whom they will want to sell more businesses to in the future.

As a fiduciary to business owners, Pierre will always put your best interests ahead of his own and seeks to build long-term relationships and friendships with his clients.

Question 9

What is a fiduciary?

Accepted Answer

A fiduciary is a person or entity that has a legal and ethical obligation to act in the best interests of another party. This obligation is known as a fiduciary duty. The person or entity in the position of a fiduciary is expected to exercise loyalty, good faith, and integrity when representing and managing affairs on behalf of the other party. The fiduciary duty requires the fiduciary to prioritize the interests of the other party over their own, exercise due care and skill, avoid conflicts of interest, disclose relevant information, and make decisions based on the best interests of the beneficiary or client.

Question 10

What industries or types of businesses do you specialize in?

Accepted Answer

As a former corporate finance executive for the international investment bank owned by Barclays and more recently as an independent consultant and coach, Pierre has advised and helped the owners of businesses in a very wide range of industries including technology, healthcare, insurance, mining, construction, logistics, analytics, and consulting.  Pierre has no particular focus on any type of business or industry.

Question 11

How do you maintain confidentiality and protect client information?

Accepted Answer

Maintaining confidentiality and protecting our clients’ information is essential to maintaining the trust we require to be effective. To protect the confidentiality of client information, we store client data in secure, password-protected, and access-controlled environments in a cloud hosted by Microsoft. We use complex and unique passwords for all accounts and systems and have implemented multi-factor authentication (MFA) whenever possible to add extra layers of security.
We keep all our software and systems up to date with the latest security patches and updates and regularly apply security updates to protect against vulnerabilities that could be exploited by hackers.  We pay an outside firm to routinely provide training on best practices for handling sensitive client information, recognizing social engineering attempts, and understanding the risks associated with phishing emails or other fraudulent activities.  This firm routinely tests us by sending us ‘test’ phishing emails.  We limit access to client information only to authorized individuals who require it for their specific roles.  When appropriate, we use secure channels such as encrypted email, secure messaging platforms, and secure file transfer protocols (SFTP) to protect client information during transit for communication and file sharing, particularly when transmitting sensitive client data.

Maintaining confidentiality and protecting client information is an ongoing process that requires diligence and proactive measures. We take this seriously and regularly assess our security practices, stay updated on emerging threats, and adapt our procedures accordingly to ensure the highest level of data protection.

Question 12

Can you work with clients remotely or internationally?

Accepted Answer

Yes, we have and do work with clients across the United States and anywhere internationally.  We can meet in-person as well as through online video calls.

Question 13

How do you handle conflicts of interest?

Accepted Answer

As a fiduciary, we disclose all actual, perceived, and potential conflicts.  We maintain the highest levels of confidentiality and will not share any client information without prior written consent.  Because most of our clients come to us through referral, we safeguard our reputation by earning and maintaining the highest levels of trust from our clients.

Question 14

Can you provide references or testimonials from previous clients?

Accepted Answer

Yes, see testimonials here from prior and current clients.

Question 15

Can you provide examples of past clients or success stories?

Accepted Answer

Yes, see success stories here from prior clients.

Question 16

How do I get started working with you?

Accepted Answer

Fill out the contact form and let us know what help you seek.  We will follow up to explore if we are a good fit for what you seek.

FAQs

Frequently Asked Questions