There is a difference between a paying client and a strategic partner.
A paying client is someone who will sign on the dotted line and hire you to deliver your coaching or consulting services.
A strategic partner is all together different. A strategic partner is peer who value all that you bring to the table and leverage your strengths to their fullest extent.
Knowing the difference will dramatically change your impact, earning potential and long-term satisfaction.
If we just wanted a paycheck, we'd stay employees. But we chose the path of consulting and coaching business ownership in part because of the control over our time and in part because we wanted to add significance to our success.
Here's a few reasons to be on the lookout for as to why a client might hire you and pay you well while having zero intention of allowing you to influence them:
When you first start your consulting and coaching business, you are likely to get a lot of referrals to potential clients. But referrals will only take you so far, especially if you want to scale up your business. Therefore, you need to create marketing routines that consistently generate leads and future clients into your pipeline.
Marketing has one job – to get qualified leads to know who you are and be interested in having a conversation with you. But when it comes to marketing as a consultant, you need to add one other thing: You need to establish your credibility. You are not selling widgets for low prices. You are selling your know-how in exchange for significant fees.
Therefore, create your overall marketing strategy that sets the context for you to be able to make a powerful promise and then deliver on that promise. Select tactics that give you the opportunity to make create a relationship to the right people that you can most help.
It takes a lot of effort to get to the point where you as a consultant are meeting with a buyer to discuss the potential of a strategic partnership. The true payoff for all of your hard work is when you and your future client are able to come to shared agreement on the work involved and your equitable compensation for the value you create.
It is for this reason, mastering your ability to close the deal is critical. The purpose of this article is to give you some tips on how to increase your close rates and your per contract fees while building trust and credibility.
If you want to achieve sustainable success as a consultant - ideally you want to create a marketing system to ensure you have a consistently full pipeline of right-fit clients.
However, there will be times when you have to feel the cash flow pressure and need to find clients...right now!
This article is designed to give you some immediate traction while still setting you up for long-term success.
In order for you get the instant results you're looking for - 3 things need to be in place:
1. Your mindset still has to be one of service and value for what you bring to the table vs. letting fear and need drive your marketing. You cannot need your clients more than they need you. They will feel the desperation and it'll affect your close rates. Make sure you breathe through your money fears and approach this task from a standpoint of abundance and avoid letting scarcity drive your marketing.
2. You have to understand that you when you...
One of the most important questions both new and seasoned consultants MUST answer is: "How much should I charge for my consulting services?"
What your charge and your pricing philosophy determines both your earning potential AND your labor intensity. It's where the rubber hits the road on your eventual income you earn as a consultant and how scalable that income ultimately becomes.
Here's some steps to follow to get you started:
1. Get clear on your pricing philosophy: Contrary to what you have heard, your price isn't determined by the market rate for your methodology or your expertise. You set your price against the value that when your expertise is applied - the value it creates for your clients. Your fee reflects an equitable energy exchange against the results you help create and the incremental value of working with you.
2. When you meet with a potential client - LONG BEFORE you put a proposal in front of them, get...
I am confident that you get how important networking is to your marketing system. You know that its an essential way for you to regularly meet and impress your future clients.
The question is: Are you making the most of these events?
Are you making the most of the events that you invest time and money to attend?
And as importantly - are you taking advantage of the networking events that you may not even realize you're attending every week?
I put together this 10-minute mini-training on "How to Turn Networking Contacts into Consulting Contracts" to give you some instant ideas on how to make the most of your networking opportunities. In this video you'll discover:
Here's a flow chart that shows you step-by-step how to make the most of your networking...
Do you know the ONE thing that will have the biggest impact on your ability to provide amazing consulting solutions to highly influential senior leaders?
Is it your technique abilities and unique certifications?
Is it your business acumen and ability to speak the language of business?
Is it your aggressiveness to convince a senior leader to include you in their strategic work?
While those things are important, they are not nearly as critical as mastering your ability to POSITION yourself as a strategic partner.
In this podcast, I introduce you to the concept of Partnership Set Up - my unique approach to landing consulting clients.
You see, when it comes to consulting to change, it's not enough get to get a client to agree to working with you. You have to create the conditions where you are perceived and leveraged as a strategic partner.
They don't automatically think of you as a...
Here's a common conundrum.
Smart and values-driven consultants typically don't like marketing. Yet they hate being the world's best kept secret.
Same goes for internal consultants. Just because you have an official role in the organization to support leaders through change and transition doesn't mean that they are aware of who you are and how to best leverage your expertise.
In this week's podcast - I have one goal: to reframe your perception of marketing.
It's not a chore you have to get through in order to finally get to the work. It IS the work. It IS the first opportunity you have to serve clients that have needs that you care very much about.
Do you the one meeting that will literally change your client's life and define your entire client engagement and earning potential?
It's the meeting that some might call a Discovery Meeting, Free Consult or Complimentary Strategy Session. Regardless of how you refer to this discussion with a potential client who expresses interest in working with you, how you handle it determines:
In this podcast from my series "Consulting Matters: Mastering the Art & Science of the Business," I'll walk you through exactly what you need to do and say to set up your consulting to maximize your contribution, credibility and compensation potential.
You'll discover the four outcomes...
When it comes to consulting, the client isn't always right.
More often the solution that they want isn't what they really need and what will create the results that truly matter the most to them.
It's not that they aren't smart or haven't thought through what will solve their challenges prior to calling a consultant like you. It's simply because they suffer from that "nose to the windowpane syndrome" meaning that they are too close to their challenges.
Which is exactly why they need you!
In this podcast, I share with you five ways to pivot your client from their requested methodology and what they say that they want towards a meaningful conversation around that they need which is the bridging of their business performance gaps.
Business performance gaps reflect the distance between where your clients are today and where they want to be.
Your goal as a consultant isn't to simply fulfill their order...
Enter your deets below and we'll share with you behind-the-scenes secrets and actionable ideas and inspiration...just for consultant and coaches who want to make money and a difference, doing what they love.