Here at the Institute for Business Growth, we get a tremendous amount of interest from recent retirees, seasoned businesspeople, executives in transition, and baby boomers coming to the end of their “formal” working careers.

Many of these people have an incredibly valuable store of experience and lessons learned and would make terrific executive coaches, consultants, and business advisors. At the same time, they tell me that they are looking to work from home, make their own hours, keep their mind challenged, and earn a great income.

Coaching and consulting are excellent options for people in this position and I suspect that as more and more boomers retire, the ranks of executive coaches will swell with highly talented, experienced professionals.

At the same time, it has been fascinating to receive calls from a number of SCORE volunteers. SCORE, or the Service Corps of Retired Executives, provides free consulting to entrepreneurs. Many SCORE volunteers contact us because they want to earn money in exchange for their wisdom (instead of continuing to volunteer), and because they know that — if they learn how to develop business efficiently — they can find a variety of desirable clients that they can serve.

So here is some food for thought: If you are recently retired, nearing retirement, or in transition and have a strong business and leadership background, consider a career as a business coach and consultant. You don’t have to pay large franchise fees because, with our program, you quickly learn how to set yourself up as a credible business advisor and coach — and get best practice tools and processes to help entrepreneurs and executives perform better.