In this insightful episode of Chapter Two: Creating New Beginnings, Dan welcomes Wayne Cafran back for Part 2 of their deep dive into the real-world journey of launching an executive coaching business.
Newly certified and ready to make an impact, Wayne quickly discovered that clients don’t just show up once you’ve got the credentials. He opens up about the early challenges, including how he carved out his niche in business and leadership coaching, and the strategic steps he took to build visibility, from creating a strong LinkedIn presence to launching his website and actively networking.
Wayne shares actionable advice for aspiring executive coaches, including his ‘AIR Principle’ for authentic relationship-building, the underrated power of testimonials, and how to stay grounded when balancing passion with profit. He also reflects on life after his corporate career at KPMG—what worked, what didn’t, and how flexibility and persistence created surprising opportunities.
Whether you’re just beginning your coaching journey or thinking about what’s next after a senior leadership role, this conversation offers candid insights and practical takeaways to help you start strong and stay focused.
Video Transcription
Chapter Two: Creating New Beginnings
From KPMG Partner to Executive Coach, Part 2
With Wayne Cafran, Eleven Canterbury Consultant, former Partner at KPMG, and Dan Martin, Eleven Canterbury Relationship and Program Manager
Introduction
Dan Martin: Welcome to Chapter Two: Creating New Beginnings. It’s a pleasure to be talking again with Wayne Cafran. We talked in our last discussion about what you liked about coaching, coming to the “aha” moment, and a bit about the flexibility that you have as a coach. Today, we’re going to talk about the challenges of setting up the business. It’s, I can imagine, a bit different when it’s Wayne versus when it’s Wayne as part of KPMG.
So, what about getting started? You clearly had a wealth of experience and knowledge; you’d gone through the certification process. What was it like, and what did you do to get started with the business?
Wayne Cafran: So, I got the certification, I’m ready to go, but I’m not really ready to go because you’ve got to get people to coach. So, how does that work? And it’s not the field of dreams theory. I build it and they will come. So, a couple of things from my perspective in terms of the business side, which is just as important as a certification, but a little different, obviously.
But the first thing you’ve got to say is what kind of coach do you want to be? There are many coaches out there. There are health coaches, business coaches, life coaches, and wellness coaches. Where do you want to create your niche? For me, it was around business and leadership because that’s where my passion is.
So, once I decided that was the area that I wanted to focus on, I started to think about, well, how am I going to get clients? Maybe I should create a website to tell people who I am, what I coach, who I coach, and what my philosophy is. Building a website was kind of a new skill for me. Then, branding myself on LinkedIn, and you can do podcasts, webinars, newsletters, and all kinds of things. But you start to think, well, it’s not like I’m certified, and people are going to come to me. The biggest thing I would say is, and this is really important for those C-level folks that are transitioning out of their 20-year, 30-year career and want to do something else, is building and tapping into my network. Networking is the important ingredient here, and we can talk more about that. But though those were the things I did. I tapped back into my network, built a LinkedIn profile, created a personal value statement, and created a website. These were things dormant in my 30-year career.
Dan Martin: Sounds like a lot of the foundation background was done before by KPMG, and you had to rebuild that yourself. Then you said you went through the network. Where do you get your first customers? Were there people you knew from before? Were there people or companies you worked with?
Wayne Cafran: Both. There’s a concept within networking, the AIR principle. It’s “A” for advice, “I” for insight, and “R” for referrals. So, when I tapped into my network, I wanted to get their advice about how I could start any insights, and were there other people I could be talking with?
Then my network starts to expand, and I start to get the word out. But the thing about networking is that it’s not a one-way street. So, it’s like, how can I help you out as well? Right. But I think building the network was really, really important. Then, for me, when I built the network, one of the things that was important was that I needed a testimonial. I needed people to say, “Hey, I’ve coached with Wayne. And he knows what the heck he’s doing. And, we had a good experience.” So, I did group coaching. I’ve got five or six folks over an eight-week period. We did coaching and a lot of back and forth. It was a really good group of folks, and at the end of the day, I’ve got a testimonial from some of them, which I used, that expanded my referral network.
Dan Martin: Pretty cool. So, tell me, what about the finances? Did it make money? Or, as the movie goes, show me the money.
Wayne Cafran: I always say to folks, how much do you want to work, and how much money do you need? You’ve got to ask those questions because, for me, as a retired partner at KPMG, I really didn’t need another full-time job, but I wanted something that I was passionate about, and I didn’t really want to work a lot. So, the flexibility came in.
So yes, you can make money, but it depends on how much you want to work, and if you want to be full-time, and do you want to do all those things I talked about, podcasts, webinars, newsletters, and things like that, which I didn’t really want to do. I know coaches who do it, and they do it very well.
Dan Martin: That’s one of the beauties, and one of the reasons you said you liked it is that it gives you control over your time and deciding what you want to do.
Wayne Cafran: Another thing in relation to the private coaching that I do, I also contract with other great companies that do the selling and delivery, as well as outsource or contract with a coach with my credentials to help with their client base. So, I do my own private, referral coaching, and I contract with other terrific companies that do that as well.
Dan Martin: How’d you find those companies? Did you know about them before?
Wayne Cafran: I worked with one because I was a client of one called My Next Season. I’ll give them a great plug. I was a client, went through the program, and thought, these folks are great, and I want to coach with them. So that’s an example of one. There are others out there as well.
Dan Martin: It really sounds like understanding your network and talking to people, and as you’ve said, it’s a two-way street. I think sometimes people retire, and they’re used to being the one on the network that people call for help because they’ve got the high-powered job. And you leave it and you think, well, maybe I don’t have that particular thing, but I still have a lot of connections. I have a huge amount of experience. I find that when you talk to people and you can provide help and assistance, it always enriches you, and you never know how it comes back. It’s a fun kind of thing to do.
Wayne Cafran: Absolutely. I think coaching has really changed my life in terms of being a better person, and I listen more, and things like that.
By the way, it’s also brought me other types of work. Some people have called me up and said, I’d like the coaching and mentorship, but I also could use you for facilitating training or some kind of consulting project. So, it does lead back to the money thing. Sometimes you start off with something like a coach, but it morphs into other types of projects as well. Because you’re working with folks in an organization, they have other issues. You may have that skillset as well.
Dan Martin: It is really good. You get to meet people, and it’s about helping people solve their own problems, and sometimes maybe, involving you as well in helping them. Thank you very much. It’s always a pleasure talking with you, Wayne.
