The Advisor Coach
Some practitioners who are comfortable with personal contact have segued into offering coaching as a part of their consulting service. Some now even coach exclusively, using their existing communication and relationship skills as a foundational basis for their professional coaching practice.

Coaching can dramatically increase the profitability of your service / consultancy business 
Business coaching can be highly rewarding and highly profitable. Coaching fees for specialized projects that require extensive preparation and research, such as on-site crisis coaching of a business or partners group, can be as much as $5,000 a day. Some service providers simply charge their existing hourly fee schedule while others charge a premium for specialist coaching services. 

A service provider has two means of increasing their one-on-one income: more hours or higher hourly rates. The former option generally leads to unhappy loved ones and an early end to their professional career. Obviously then a service provider needs to obtain the highest possible rates for each job and preferably some add-on specialist services. Top service providers are also able to ask for higher rates based on their specialty and experience. By specializing in one or more areas of coaching practice, the service provider can start to carve themselves a niche. This also makes identifying clients/prospects much easier since you are know what you can deliver with confidence. Specializing is good, not just because it enables you to increase your rates but from a focus point of view, too.

Service providers have an inside track record
Service providers having intimate knowledge of their clients’ businesses, are well placed to help them set goals and solve problems. By providing coaching as a model of change and learning the service provider has a proven vehicle to move them towards the role of a trusted adviser focusing on a strategic vision for their clients. The already established honesty inherent in an existing service provider-client relationship makes them an ideal candidate to offer coaching. If you trust your CPA, Financial Advisor and Lawyer with knowledge of your business finances and other personal details, you can certainly trust him/her with intimate knowledge of how you need to better develop personal and professional aspects of yourself and establish some important life and/or business goals.

Many service providers already possess the requisite coaching “soft” communication skills of listening, teaching and advising in addition to their traditional service strengths.

Nevertheless, service providers need help in systematizing their existing skills into a formal structured process. Just as importantly they need to learn best practice coaching standards and methodologies, techniques and tools from a reputable coach training institution that has a track record of success training service providers in their field of expertise.

In the last few years Professional Coaching has become a part of the Consulting Profession
Today's new and rapidly growing professional business / executive coaching discipline primarily fits under the umbrella of the consulting industry.

The largest member group of consultants specializes in supplying coaching services to a growing and disparate market of small to large corporate, not-for-profit and government clients. Members of this rapidly growing, diverse group typically comprise boutique, small sized consulting practices whose principals are highly experienced people developers and industry professionals. They have significant experience in the business domain areas in which they practice consulting and coaching. Members of this group usually call themselves consultants rather than "coaches" and are experienced business-savvy professionals who have 'transitioned' from senior-level positions inside organizations. The most successful members of this group of practitioners have typically undertaken advanced-level instruction in the use of the latest psychological-based personal and organizational coaching change and learning models and tools.

Many group practices (Consultants, Accountants, Financial Advisors, Lawyers etc) try to diversify their business away from just compliance work. 
Typically, one senior partner is charged with the responsibility of finding ways to expand their practice. However, there is a general lack of business literature and tailored training/courses specifically available for service providers wishing to learn how to establish and build a business coaching portfolio. As such, most partners simply pass the opportunity by.

For most service providers coaching certification from an industry-recognized course provider and not some "credential-mill" has became an important means not just to acquire the requisite specialist training and follow-on support but as a way for their clients to separate them from the rest of the marketplace. 

As earlier mentioned, coaching is all about how to achieve sustainable measurable change. Unless the practitioner has been trained in the use of proven change models and the tools to cost-justify the outcome he/she will probably be employing old-fashioned personal coaching techniques (mass-marketed by the many large commercial coach training providers) that have no place in the real-world of professional business coaching.

The Harvard Business School Journal recently warned businesses about the perils of hiring unqualified business coaches : "..This can have disastrous consequences for the business long term... Unless these business coaches have been trained in the dynamics of Interpersonal relations and have been trained in the use of psychological-based tools and techniques they may abuse their power often without meaning to. Businesses need to draw on the expertise of business coaches with legitimate skills. Coaching is not mechanical. It brings to bear the coach’s knowledge of business, politics (how things work) and psychology. People who fail at coaching assignments typically have a program, a formula approach. They say, ‘ We’re going to give you all this feedback, you're going to set some goals and then you’re successfully going to change what you want.’ It doesn’t happen because it’s not personal enough. It’s not deep enough." Indeed, our Institute's Certified Master Coach course is designed specifically to meet the demands of service providers who require best practice, easily applied, coach training that has a behavioral science foundation.

Business Coaching = Problem Solving + Personal Skills (Behavior) Training
-The 3 elements for achieving superior and sustainable business results:  (Strategy + Process + Behavior)

Strategy -sets the direction for the enterprise—where it’s going and why.
Processes -organize the work toward strategic objectives. 
Behavior -is the enabler of both strategy and process. It is people’s behavior—what they say and do—that is either aligned or mis-aligned with strategy and process.

Developing a Personal Skills-Based Coaching Plan can provide a relatively quick and cost-effective increase in individual and business productivity and well-being. Using industry-proven behavioral change coaching models, service providers as coaches can develop a Coaching Plan to assist people to develop competence by identifying the key "personal skills" that characterize expertise.

Today, business coaching is quickly becoming a vital income means for service providers focused on securing their own future. Simply put, business coaching is a way to take financial, management and general business knowledge, gained primarily by providing traditional compliance services, to re-create a new advisory business that pulls together all those skills.