I’m a solo consultant making a very comfortable living.
So, I must know exactly how to make money, right?
Unfortunately, that hasn’t always been true.
I have tried many things that failed to meet expectations:
X Higher volume for lower fees
X Turning my IP into products
X Offering peer groups
X Business owner coaching
X Tiered pricing
What works, and has been for years is:
√Being super clear about the IMPACTs my work creates for Great Fit Clients
√Marketing only to people who fit my Great Fit Client profile
√Attracting Great Fit Clients who have highly significant needs
√Customizing options for each client with fees proportional to the impacts created
√Including unlimited access to me for the duration of our engagement. Time is never limited, and access is not hoarded.
Let me emphasize. The red x approaches were not broken; they didn’t need to be fixed.
They were and are simply the wrong ways for a firm that creates IMPACTs for its clients to generate revenue proportional to the significance of the IMPACTs.
For example, let’s say you have the expertise to ensure that a High Net Worth person with complex family dynamics needs an estate plan that protects their legacy no matter what. But when you talk to that person, you only show them a written document with your three tiers of services. They look at what’s included in the premium tier and they do not see their life reflected in it. So they think you can’t help them and they go elsewhere.
If instead you offered customized options for their estate plan that reflect their unique and complex situation, they would choose one and become your client. Your fee would be proportional to the significance of the security you create.
You can tweak, you can invest more money, you can attempt to perfect your marketing. But if an approach inherently limits your revenue, none of the extra efforts will matter.
Do the Green, not the Red
Are you stuck with things that aren’t borken but that don’t work for your company?
I’ll offer at least one suggestion if you email me.
