Do you know 7 Ways to Boost Your Consulting Revenue? Some years ago, I got a huge wake-up call when I put all my eggs in one basket.
I put all my effort and energy into a deal I thought was a sure thing. In fact, I figured I’d be pretty much set for the next few decades with all the $$ I’d get.
I spent months with a technical team developing a computer packaging product that I thought Steve Jobs (who was the newly re-appointed Interim CEO of Apple at the time) would absolutely flip over as they launched of the IMAC G3 – remember that?
Unfortunately, the pitch sank within seconds of Steve looking and it, and all my hopes sank with it.
A huge lesson to learn. But a good one.
Always diversify your income streams.
In fact, I just had lunch last week from a client of mine and Trailblazer Community member, who is “knocking it out of the park” as an executive coach. She had a stellar 2017. We talked about how to keep scaling and growing business when former “big revenue” clients start to “ebb” – due to key contacts changing etc.
After my Apple pitch debacle, I vowed to never again rely on one source of income. I’m always looking for ways to keep money coming in and ensuring my income streams are “diversified”.
For instance, lately, I’ve been reaching out to expand my speaking engagements. I am looking to propose contracts with more career transition firms and develop more strategic partnerships
I’m also in the midst of developing a “Launch Your Corporate Workshop” program to serve my Trailblazer Community so you can build additional revenue streams. This will be the focus of my next Trailblazer Forum. (stay tuned for details in September)
Here are 7 Ways to Boost Your Consulting Revenue:
- Direct corporate clients (you work as solo-consultant)
- Collaborative partnerships. (joint venture partnerships where you work with a colleague or number of colleagues to provide services to a mutual client)
- Teaching. (you can get a gig with an educational institution or association or another business-related body who needs experts to impart their knowledge for a one-time or ongoing post)
- Being an associate for a large, medium or small consulting firm. (work part-time, or as-needed, hiring yourself out as a consultant to other consulting businesses)
- Providing workshops. (contracting with SMEs and large corporations to deliver timely topics to their leadership and/or employees)
- Creating fee-based webinar series
- Tapping into gig contract opportunities on trusted sites such as Kahuso.com start.kahuso.com/freedom.
I believe there are many rich opportunities out there to diversify what you offer and how you can get paid for it.
I suggest you start by reaching out to your network to get ideas, contacts, introductions, etc., and then go from there. And keep it going!
It does take some legwork but it will be worth it. Just remember, you HAVE to do this in order to continue to build and maintain a sustainable, thriving consulting business.
Would love to hear if you’ve tried any of these avenues and how it’s worked for you. Please feel free to comment below!
Want to explore how you can create more income streams? Sign up for a complimentary 30-minute strategy session here: https://calendly.com/kim-chernecki1/30-minute-strategy-call
© Kim Chernecki
Kim Chernecki is CEO and Founder of Freedom Street, a global training and coaching company that helps high-performing consultants, coaches and other experts land lucrative corporate contracts. She is the creator of the Land Corporate Clients Fast-Track System, and is a top-rated sales performance executive, facilitator, coach, advisor, speaker and strategist. A 25-year entrepreneur, Kim has consulted with executives from 100+ leading North American and Fortune 1000 companies and has, herself, started up and helped grow 8 businesses and business divisions. Kim is also the Founder of the Trailblazer Forum, a Toronto-based, 3x/yearly live event that brings entrepreneurs together for powerful business-building opportunities.