Olivia Stefanino suggests that its time for coaches to roll up their sleeves and offer practical help and prove their versatility if they don't want to lose their shirt in these recessionary times.

Is it all doom and gloom or is there something we – as coaches – can salvage from this country's financial mess?

Whether or not the City's banking fat cats decide to pay themselves a healthy bonus this year – irrespective of the financial mess they've helped to create for the country – it would appear that for many trainers and coaches, bonuses definitely aren't on the agenda.

In fact, just how they're going to eke out a living this year is causing furrowed brows for many in the people development industry.

"It's time for us to use our own tools to reframe the situation and search for creative solutions which create a win:win:win for our corporate clients, their employees' clients and for ourselves."

But perhaps it's time for us to use our own tools to reframe the situation and search for creative solutions which create a win:win:win for our corporate clients, their employees' clients and for ourselves.

What I've really noticed is that for many clients – especially those in the corporate sector – what they really want is practical, hands-on help now.

While they may appreciate the niceties of coaching and learning how to become self-sufficient, with the current constraints many people in managerial positions are finding that both money and time are the issue.

So how can we help them?

Perhaps a good starting point would be to offer our services in more of a consultancy role – which means that we roll our sleeves up and actually do the job that our clients need to get done.

Many companies are shedding staff in a bid to reduce overheads – but those jobs still need to be done. Offering our expertise for hire on an outsourced basis may just be the solution to everyone's problems.

Of course, this won't apply so well to life coaching – after all, we can't live someone else's life or set their goals for them - but for those coaches who have expertise in business, sales or marketing, the current economic climate offers an excellent opportunity to showcase our expertise.

The old adage was that 'Those who can, do - and those who can't, teach,' …and in some of the more old-school organisations, there's been a whispered belief that 'Those who can, do, while those can't, coach'.

Let's prove them wrong!

There's a danger that we get so caught up between the distinction between coaching and consultancy that we miss the point – which is to give our clients the help they need, when they need it, how they need it. What we choose to call that help is pretty irrelevant.

By broadening our horizons in this way, we can achieve two things. First, and perhaps most importantly, we can prove to our clients that we're genuinely here to help and second, we'll be building up a portfolio of successes that will help us with our own marketing activities in the future.

I'll probably end up in the doghouse for this particular comment - but it's my personal opinion so I'll say it anyway - the best coaches have an existing expertise, and it's their desire to help others improve in this area of expertise that makes them good coaches.

However, there are some coaching institutions – pointing no fingers – which seem to feel that they've done their job by simply providing their students with a list of coaching questions to ask their clients. Whether those coaches have any specialist area seems to be of no consequence – but with no proven successes, where's the credibility?

To illustrate the point, I was talking recently with a small business owner who was in his mid-50s, who was bemused to have been offered business coaching from a young woman in her early 20s. He was nice enough not to be insulted – but he just couldn't see how she'd possibly have enough experience to be able to help him.

If coaches aren't to be exposed as the new emperors with no clothes, then we need to prove that we know what we're talking about.

And what better way to prove it, than by showing that we've really got what it takes to ensure that our clients sail smoothly through these currently choppy financial waters?

Olivia Stefanino is the author of 'Be Your Own Guru' and has run leadership and coaching programmes within both blue chip organisations and SME’s over the last ten years. To download her free tips booklet '127 ways to harness your personal power' visit www.beyourownguru.com