From Corporate Exec to Consulting Boss: How Rachel Dreyfus Made the Leap

Real-Life Relaunch Story

Rachel Dreyfus, Principal, Dreyfus Advisors:

“You have to remember it would be boring if there weren't ups and downs. I've had some slow times, and I've had some busy times where I'm buried.

If you're loving the work you do, that's really what it's all about.”

In 2013, Rachel Dreyfus was running the market research department at Time Warner Cable in New York City when a corporate merger presented an opportunity to pivot. She left Time Warner and launched a marketing strategy and research consultancy, Dreyfus Advisors, soon after.

Since then, Rachel has become a trusted business partner to executive teams, helping companies and organizations launch new products and breakthrough campaigns that are grounded in customer research. 

I sat down with Rachel to learn exactly how she launched and grew a successful consulting business over the past 10 years. We discussed her career path, the big mindset shifts she had to make, and her best advice for launching your own consulting business. 

Q: Tell me about your career path. What did you want to be when you grew up?

Growing up, I wanted to be either a teacher or a librarian. I think because I loved reading, and my role models were my mom, who was a teacher, and some of my teachers. As a child, I always had something entrepreneurial going on, whether it was a lemonade stand or organizing birthday parties for seven-year-olds. 

I ended up majoring in business at Emory University. When I graduated, I took a job as an auditor at what was then Arthur Andersen. I got my CPA. I thought that a big firm would give me a grounding in the financial side of many types of businesses, and it did. 

After that, all of the changes and pivots in my career were really fortuitous. For instance, at one point, the consulting arm of Andersen was looking for more people and I raised my hand. 

Q: How did you get into market research? 

As a business consultant at Andersen, one of my clients was TV Guide, which at the time was a magazine.  I was recruited at the end of the consulting project to bring them into the digital age.  One day, the management team at TV Guide told me that they wanted to give me responsibility for the market research function. I said that I was open to it if they would send me for training. They said OK. 

I fell in love with market research. It’s the combination of the art and the science that ignites my passion. And, you need to be creative and strategic. 

After that, I was recruited by Time Warner Cable in New York City to build and lead a centralized market research department.  It was brand new. That’s another theme in my career.  I've gravitated toward roles that haven't existed before, and have enjoyed starting something new. 

We developed bundled pricing and bundled packages of Internet, video and phone, targeted to consumer and business segments. That was when that industry was growing gangbusters. I led the team from 2005 to 2013. It was a very competitive and very exciting time to be there. 

Q: How did you decide to go out on your own? 

In 2013, Time Warner Cable was going through a merger. I decided to take my package and leave. I wasn’t necessarily set on starting my own thing. At the time, I was interviewing pretty actively for full-time positions. 

My first project was with The Nature Conservancy. That happened because my previous boss at Time Warner Cable was on their board and brought me into a project. They’ve been one of my best clients for 10 years.

During a few of the interviews I had, the hiring manager would say, ‘I have a project I'd like you to try.’ I got into Starwood Hotels and Resorts that way. They became one of my best clients early on. 

After trying to both interview for corporate positions and take on my own projects, I eventually just decided, ‘I can do this.’ 

Q: What surprised you about starting a consulting business? 

I came from a consulting background, so I know that I enjoyed that type of work. But when I started getting into project work, I realized that there was a whole backroom side of the business that I didn’t know anything about. 

I really didn't know how to negotiate, for instance. I didn't know how to price my services. So I decided to do two things. I turned to people who know me really well and have been mentors throughout my career. I asked them for advice and information. 

I also had to get some professional help. Early on, I hired a sales coach. She didn’t just teach me selling skills, she helped me look at my beliefs and assess if they’re still serving me well. That was so important for me because I really thought of myself as a corporate executive, with a big team and a big budget. I had to change that belief and see myself in a new role that was just as gratifying. 

I also had to change my belief that there was scarcity and not enough work to go around. She helped me reassess that to an “abundance mindset.” This led to confidence and a healthy perspective.

Q: Your network was clearly important to launching your business. What are some specific ways that you nurture and expand your network? 

One way is through LinkedIn, which is one of the easiest, obvious ways.  But another way is by getting out.  As someone with a home office even before the pandemic, it's sometimes difficult to remember to leave your office. But I do that now, going to industry meetups not only to network with people, but because it also provokes new thinking and new ideas. 

When I talk to people, I'm not in selling mode. I just really want to know what people are working on. What are their challenges? Just staying curious and sharing my expertise.

When I come across an article or a research study that I think would be interesting to somebody I know, or when I write one, I send it to them with my point of view and why I sent it to them.

I'm always trying to be helpful, and to be of service, so that when somebody does need market research, they'll think of me as a thought partner.

Q: What other wisdom do you have to share with someone who's thinking about going off on their own and creating a consulting business? 

You have to stay positive, keep your sense of humor, and practice your self care. That includes thinking of it as a journey instead of a destination.

There's going to be good days. There's going to be bad days. So your attitude is really important. You have to remember it would be boring if there weren't ups and downs. I've had some slow times, and I've had some busy times where I'm buried. If you're loving the work you do, that's really what it's all about.

Figure out who your ideal customer is, and how you intend to support that person. Think of it as helping them solve a problem instead of selling them something.

People hate selling, and you don't have to. You just have to be that solution to their problem. 

You can follow Rachel Dreyfus’ marketing insights and updates on LinkedIn.