Thoughts On Consulting Based On The Last 18 Months
Sometimes I get questions about people wanting to get into the consulting sector. Perhaps they should ask someone else, I've only been doing this about a year and a half!
I've talked to a lot of other consultants, including ones that think it's not for them. Two huge patterns stand out. These are not judgments on anyone, just observations why people flame out of consulting.
Too many small customers. Small customers are energizing, but the sales process for a large customer often takes just as long as a small customer. I've had extremely busy consultants I know who say "I don't take startups at all." This person has figured out how to find bigger clients with high-value problems to solve.
Don't like sales / can't find their own projects. Many consultants are brilliant at doing the work. Helping clients. But they don't like finding new business.
If you want to be in the business long-term, here are a few things I try and do, and it's worked out well so far:
Network like a maniac. Half of my customers come from referrals.
Be active and publish. About a third of my new customers come from social media.
Treat people well. Anyone who you meet, pretend you are going to have to work with them again in 20 years. You just might.
Any people who don't know anything about sales tell salespeople "why not only focus on the ideal profitable customers?" and forget the fact that a) It's a funnel. You need to cast a wide net, and b) Oftentimes, what you thought was a small to medium size customer in your targeting exercise turns out to be a big customer later on.
When I initially posted this on LinkedIn, I got a lot of great comments with other folks chiming in with advice and words of wisdom. I thought I’d aggregate some and share some of those insights here:
Nicholas Daniel-Richards: “My biggest struggles were dealing with imposter syndrome and lack of ownership over the long term. My biggest takeaway? People listen to consultants because they are from the outside (for the most part). Remember this is also true when you're starting a new job - the bigger changes are easier when you're still viewed as new and the outsider.”
Douglas Hollinger: “Treating people well/networking are two sides to the same coin. Authenticity and offering candid advice go a long way and pay off over time, even if it means telling a prospect that they shouldn't actually launch that new platform or spend on that new technology right now. In the end, add value!”
Thomas Dawson: “Positioning is the most important element in building your consulting business…being an expert in a specific niche or market vertical is essential. Embrace your own business development work...yes the hustle is tiresome but unavoidable if you want be in this game. Learn how to turn strangers into clients.”
Evan Weber: “Consulting isn't for everyone. You have to be able to work will all types of people and personalities at companies. And you have to be able to DELIVER VALUE!”
Sean Pruett: "In the first year, you'll do a lot of work you don't want to do. Just do the work while you figure out how to get the customers you really want…It's going to be hard to build a business on a lot of small clients, but they might be the tinder you need to get your bonfire going…Until you are at max capacity, that small job might just turn out to be a life long client or the link to the big job you really want.”
Thanks to all for sharing these sage words.
