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...
I want you to land your next (or first!) six-figure contract with confidence.
Are you optimizing your earning power? Are you getting paid what you're worth?
In this video from my eCourse "Contacts to Contacts: How to Land Clients & Establish Long-Term Winning Partnerships" I let you in my insider secrets to transforming a small request for a tactic such as a training or short-term coaching assignment into a larger and long-term consulting engagement.
I am passionate about about this topic because how you well you handle contracting conversations defines your consulting potential in terms of:
My partnership set up approach to landing clients has been the key to my success. Within 18 months of leaping from my high-profile role at Walt Disney World into full-time consulting business ownership, I grew my revenue from $0 - $300,000. I didn't achieve...
Content marketing is not some marketing fad.
It’s simply the smartest way of finding and connecting with your ideal client, establishing your credibility, increasing your number of discovery meetings and close rates as well as giving you the platform to increasing your fees.
Content marketing is essential for consultants because we are in the knowledge business. We don't sell a tangible product or service. Our value add contribution lies in our heads and hearts and content is the best way to manifest this expertise in a way that connects with our future strategic partners.
If you're not implementing a content marketing strategy, you are leaving money (and credibility) on the table.
If content doesn't come easily to you or you're not sure how to get started, let me give you a few pointers.
First, be clear on who your ideal client is and what is their pain points. It all starts here. If you are unsure who you want to serve, your marketing messages and...
Betsy Jordyn: Hey there everyone, this is Betsy Jordyn and I’m super excited to have my colleague, my long-term colleague and friend, Bill Johnson here. BC Johnson. To share more about his experience. He’s the most recent graduate of the Consultant’s Institute and he has just launched his consulting business. Thank you, Bill, so much, for being with me today and sharing your experience.
BC Johnson: Thanks Betsy, pleasure to be here.
Betsy Jordyn: So, let’s first talk a little bit about this great new business that you’re launching. Tell me a little bit more about the consulting business that you are putting out there and what you want to do.
BC Johnson: Well, it’s interesting that you kind of asked that question because as I—I’ll give you a little backdrop about me. One of the things I’ve always...
Do you feel stuck with your brand building efforts? Do you struggle with attracting leads and converting them into paying clients? Is your struggle getting so bad that you are questioning if you have what it takes and thinking of giving up your dreams of making money doing what you love because you just need to live in the "real world"?
I've got great news with you. It isn't that you don't have the foundations of a great brand and marketing strategies. And it isn't that the techniques that you are using to figure this all are ineffective.
It's just that you have been given the HOW, without really understanding the WHY's behind your brand building and marketing efforts.
Most smart people try to sell their experience, methodologies and even tangible business results thinking that the rational logic is what closes the deal.
When in reality, those messages are not even getting close to the real buyer. In contrast to what you think, when you find your buyer, it is not simply about...
If you have a new consulting client, it is likely that they are antsy. If they have gone to the trouble to find and hire you, then they are more than ready for you to start solving their challenges. However, as tempting as it is, it is in YOUR best interest and more importantly your client’s for you to go slow to go fast and do an organizational assessment up front.
Consultants need to do an organizational assessment for several reasons:
When your clients start complaining the right and left hands don't know that they are doing and they can't prioritize or focus - they are likely to have a strategy problem.
But the question is what kind?
Strategy is more than a game plan for winning. It ultimately is lived out in the tough daily decisions and tradeoffs that everyone in the organization is making. Strategic intentions are realized or not realized NOT in a strategy retreat BUT in the trenches on a daily basis when decisions are made on head count, resourcing, product offerings, service standards, etc.
Effective strategy has three major components: It is well-grounded, articulated and used as a decision-making filter for leaders and employees throughout the organization.
Like an architect’s blueprint, an organization design determines the nature and flow of work, as well as the ways in which employees interact with one another. When an organization design is working well, it creates alignment throughout the broader organization, facilitates effective workflow, enhances partnership and synergy, and enables better individual performance.
Structure plays an important role in an organization’s ability to deliver results, because it determines:
Organization redesign is a highly valuable performance improvement initiative that enables your clients to optimize its people, processes and profits. It is also the single most strategic...
An effective organization design is a lot more than what you might find on an org chart. It is the way in which an organization coordinates activities towards product and service quality and delivery effectiveness and efficiency.
FOUR INDICATORS OF EFFECTIVE ORGANIZATION DESIGN:
Another way to think about an...