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- How To Make Money Consulting⚡
How To Make Money Consulting⚡
Hey Fearless Friend!
Today on Stay Fearless or Die Trying:
The ins and outs of consulting
How to make money off of your name.
I’m speaking at Harvard on October 6th!
Fearless perks of the week!
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WTF is a consultant?!
I hate the word consultant and I hate the word coach.
Yet, I consider myself to be both. Ughhhh.
What do consultants do?
Problem Solvers Extraordinaire: They use their knowledge and experience to solve problems your project or brand is having.
Strategic Thinkers: They look at the big picture. They see a brand’s goals and help with a road map to getting them done.
Trendsetters and Innovators: They have their finger on the pulse to give brands up-to-the-minute tips on what works (and doesn't!)
I believe that every single person can build a consulting or coaching business who considers themselves to be an expert in their field. It’s important to remember that if you aren’t an expert in your field which comes after 5-10 years + of experience in business, selling this particular service is a bit weird for you.
And, may give you a new form of imposter syndrome.
1. 🧠 Pick a niche. Not any niche. YOUR niche.
You can’t consult on EVERYTHING! Here are some examples of different types of consultants.
Management: Overall business management. Kind of a catch-all. But be careful, this one can have you dealing with big picture stuff to day-to-day tasks. Don’t get in over your head!
Financial: Helping with the $$… insight on investments, financial growth, and being a business money guru!
Marketing: Creative directors helping brands with outreach. You could focus on social media or just an overall marketing strategy. Help brands grow followers.
Strategy: Focused on the long term. Usually works with execs to plan for the future of the business. The chess master of consultants!
Operations: Improving the day-to-day. Helping companies get out orders faster. Fixing supply chain issues. Boosting productivity!
2. 📈 Create packages. Let’s make that money babyyyy.
Busy professionals focus on two things: what you can do for them and how much it costs. Once you know your value, create simple packages to catch the eye of companies. Start with these package types. Modify as business rolls in.
Basic Consultation: A starter package that gets their foot in the door. Usually an assessment and a one-hour consult.
Project-Based: Packages based on deliverables. They’re focused on the result and depend on your niche. Like a “0-100k followers” package. Or an “Increase Investments” package. They operate at a fixed price and timeline.
Retainer Package: Monthly fee-based service with a set number of hours of help each month. These packages often put you on-call with clients for emergencies. So make sure you have time for them!
Training Packages: Skill workshops in your niche for the team members of a business. These don’t apply to all consultants. But IT consultants, for example, make a killing off of “Don’t open phishing emails” workshops at companies!
Premium: An all-inclusive package that includes it all! This should be your highest ticket item. Usually, if a company works with you on a project, or training, or has you on retainer for some time, it is only a short leap to get them to pay you the big bucks!
3. 🤑 Sell, sell, sell!
You’ve figured out what you’re good at and how much you charge for it. All that’s left is selling your services. This goes back to marketing your brand.
Make a great website & social media accounts: You’ve got to walk the walk! Ensure your online presence matches the success and professionalism of your services.
Network: Duh! Go to events. Bring business cards. Chat it up with prospective clients. Work hard to get your name out there.
Use testimonials: Every successful client can do more for you than just paying their invoice. Get testimonials from them of your success. Scream them from the rooftops. Nothing says “I’m good at my job” more than happy customers!
Host free stuff: Webinars and workshops can bring in prospective clients. And give you a chance to show off your expertise.
Cold call!: I’ll say it ‘till I'm blue in the face. Keep on cold calling!
I landed my biggest consulting client this month by a cold email. We didn't even negotiate the deal: she was in after our first call.
This is what my email said ⬇️
— Alexa Curtis (@Alexa_Curtis)
6:07 PM • Apr 2, 2024
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Weekly Quote
"Consultants can bring a lot of expertise to the table, but they must be used judiciously. They should complement the company's knowledge and not replace it."
Stay Fearless or Die Trying,
Alexa
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