If you want to change your pricing from hourly to value based, then Million Dollar Consulting by Alan Weiss is for you.
If I say to you, I’m going to charge you $500 an hour and here is the schedule for job done vs this will make you $1m and my fee is 10% of the profit, which is likely to appeal more?
It was one of the first books that I read after making the shift from my many years as a corporate employee or day rate contractor to a business owner.
AND I think the lessons here and of course the support from my coach and mentor James Schramko gave me the right foundations to grow.
Here were my key takeaways:
1. Dream Big
You’ve got to aim as high as the stars. Don’t just think about small wins; go for the big success.
2. Market Mastery and Boldness
Your voice should carry clear and far. Let the world know of your expertise as a lighthouse signals safety to ships in the night.
Build a personal brand that resonates with your target audience, leveraging thought leadership, and harnessing the power of digital platforms to establish a formidable presence.
3. Value, Not Time, is Your Currency
Charge for the impact of your work, not the hours you spend. It’s like hunting; the prize is in the catch, not the time it takes to track it.
4. Be Best Friends With Your Clients
Treat the people you help like your best friends. Trust and respect each other, and you’ll go on many adventures together.
5. Never Stop Learning
Always be curious. Look for new things to learn and new ways to grow.
6. Courage Over comfort
Step beyond the familiar shores. The great consultant, like a seasoned fisherman, ventures into deeper waters not because it is easy, but because that’s where the prize swims.
7. Leveraging Intellectual Capital
Productize your expertise through books, workshops, and online courses to create additional revenue streams while enhancing authority in your niche.
8. Mastering the Proposal Process
Craft compelling proposals that highlight value, address client needs, and set the stage for successful engagements.
9. Expanding Your Offerings
Exploring avenues such as retainer agreements, licensing deals, and joint ventures to maximise income potential and client value.
Lloyd
PS – Would you like me to have a look under the hood and see if you are set up to scale? Let’s chat.