I’ve been a consultant for more than 20 years. Here are my final top 6 tips:
- Know your value proposition. What separates you from the rest of the consulting herd? Then price your services accordingly. I differentiate consultants into 4 categories: 1. How; 2. What; 3. Why; and 4. Who consultants. How consultants ($100/hr) know how to do something right. What consultants ($200/hr) know what to do right? Why consultants ($300/hr) can distill why the right things must be done. Who consultants ($400/hr) know who pays for doing the right things right.
- Add real and perceived value. Commodity consulting goes for about $50/hour. Move up the how, what, why, and who consulting curve to offer more customer value. How consultants are skilled technicians. What consultants are skilled managers? Why consultants are skilled communicators. Who consultants are skilled leaders and politicians. Who consultants offer clients peace of mind in today’s time challenged and anxiety driven world.
- Differentiate yourself. How do you differentiate yourself from the rest of the consulting herd? The differentiator is what makes you different or adds value. This is your ‘value proposition.’
- Reinvent yourself. I used to reinvent myself every 7 years. Now, that’s too long. I do it every two to three years. I try to stay ahead of the knowledge curve.
- Update your Brand You. Personal brand management is what consulting is all about these days. As we’ve discussed, it’s called Me Inc or You Inc. The ideas are pretty similar. Look out for #1. Your employer won’t. You can update your brand, skills, contacts, knowledge, etc.
- Develop a killer new process or product and write a book about it. Another thing I’ve learned about consulting is that there is a linear correlation between visibility > credibility > marketability > billability. It’s pretty simple. Visibility through a column, books, or a clever methodology leads to adoption and credibility.