“Consulting Success” by Michael Zipursky guides us to building and growing a consulting business. If you love the work you do, but not necessarily the company you are with, consulting may be a way to transition into your own business.
Consulting is very much an independent duty. You need to be a self-starter, self-motivated and possess multiple talents. You will need to market yourself, create schedules, host meetings, and send billings notifications.
Consulting, in my opinion, is very much like being a content creator. However, instead of producing creative work, you assist clients in making more money, reducing expenses, or adding more clientele.
1) Consultants that demonstrate quantifiable results will receive the most compensation. You have to be able to prove your results in a measurable way.
2) Respond to clients quickly. In today’s world, many people don’t give top-notch service to their clients. You will stand out by responding to emails and calls in a matter of hours, not days.
3) Specialize in your consulting area. Being a broad consultant doesn’t bring you more clients; it brings less. In my case, I could specialize as a consultant who works with 16-18 years who are considering joining the military.
4) Call your business something simple, like yourname.com. However, if you plan to sell your business, you may want to call it something more general, like Consulting Kings (lousy name).
5) Determine how much you want to make per year, and do the math to find your hourly rate. The author does not recommend charging by the hour, but you should know a roundabout number that pays the bills. You don’t want to undersell yourself and work at a loss.
Like content creation, staying busy doesn’t mean you are being productive. Doing things like creating new systems, business cards, or websites may not grow your consulting business.
Find a way to grow your consulting business like hitting the streets, attending meetings and seminars, and arranging conferences. Build a system to automate tasks and replicate your performance across multiple business areas.
If you have achieved success in an area, you can become a consultant, coach, or mentor. However, you will need to find systems that work for you. This is very much a business, so all the business principles apply.
Becoming a consultant is a great way to transition from your 9-5 to self-employed. You have to work harder than your job, at least initially. Once you become a top consultant, you can take fewer clients at higher rates—creating the freedom you crave. This book is a must-read book for subject matter experts looking to start their own business.
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