Building a Six Figure Consultancy
Starting a consulting practice in any category or specialty can be very lucrative… where the right person, with the right personality and right knowledge can easily generate six figures working part-time. This can be the perfect work-from-home strategy that meets all of today’s new challenges.
Think of anything and everything that you might enjoy… marketing, PR, tech development, party planning, business management, interior design, hiking tours of Alaska… or rubber rafting on the Yakima River. If your idea is something you enjoy doing… and you have exceptional experience and/or expertise… I can virtually guarantee that there is someone who will pay you money for your time, effort and knowledge. This is the first key to success… and the biggest hurdle to address. It is also, unfortunately, the step where most stumble, fall and fail.
Many years ago I was talking with a young guy about his desire to start his own business. I asked him what he wanted to do… and his response was that he had no college degree and really didn’t know how to do anything. I then asked what he liked to do… and he told me that he loved to get together with friends on old truck tire inner tubes and float down the Yakima River in Eastern Washington State. And that summer his business was born… since, as it turns out, there were dozens and dozens of others who would pay this guy to set them up on one of his adventures.
The second step in building a successful consultancy is to be able to prove one’s expertise to a core group of first adopters (in other words, your first clients). In some cases, as with the young Yakima River Guide, the best approach will prove to be to do your gig in a very public way, meet people who are hanging around and invite them to participate the first time for free.
For consultancies in professional circles… like tech, marketing and PR… I would suggest finding out where potential clients and/or their current employees hang out socially. Network, get to know people, learn the names of the decision makers in their circle of influence. Then, when the time is right… get their direct contact information and send followup emails offering your services. Most likely no one will be hiring your specific services that first day… however, they just might be hiring tomorrow when a specific need arises that they feel you can help address.
Our team helps clients start and develop consultancies, for details go to — http://mediaconsultingservices.com/register.htm
For softer services… like party planning or interior design… find people who you can help on a no-fee basis. Put your focus on people who have lots of friends with money to spend. The trade out for your services will be a promise from the ‘client’ to compliment you publicly and to share your information with anyone who asks. I have watched a number of young people begin very successful consultancies as party planners, club event promoters and interior design experts by using this same approach. This approach works… and it works extremely well.
To see some of our past projects and past clients, go to — http://MediaConsultingServices.com
The step third in creating a successful consultancy is to develop one’s public profile… starting with feature style articles in related print publications and online venues. This would be followed by developing a short book… which is the holy grail in reaching producers of regional radio and TV news programming and talkshows. If one has a book (just so it has an amazing cover) it will prove to be the secret sauce to booking regional media… which then will prove to be the key to exploding the scope and activity of your consultancy.
To see a sample TV talkshow pitch produced by our team, go to -https://vimeo.com/124111937?autoplay=1
The fourth element… that must run in conjunction with the three above… is to build a solid personal brand. At a very minimum this must include a national caliber PR photo and a strong personal banding website. The web site doesn’t need to be extensive or expensive… but it does need to convey your personality, your core value proposition and a very strong call to action. Using your next door neighbor with a camera for your PR photo… and building a web site based on some cheap or free online template is not going to cut it if one’s honest intention is to go to the top. Always remember that Perception = Reality… and bad photos and cheap web sites will not create an impression that strangers will want to buy. To be the best… you must look like the best.
To hear a sample radio talkshow pitch, go to — http://nighttalker.com/audio/Michael-David-McGuire-PROFILES-Travis-Royce-110323.mp
And finally… the fifth element… for anyone who wants to reach that first six figures is to get out and be on the playing field. Show your face around, meet people, make an impression, make introductions, throw a party… freely share good information… take people to lunch and dinner and breakfast. There is nothing more magical than picking up a few tabs on your personal AMEX to start priming the money pump with new clients.
I will be happy to take time by phone to advise anyone based on their specific situation. Call our office in New York at (212) 465–3205. There is no cost for that initial consultation. To find out more, go to — MediaConsultingServices.com
About the Author
Michael David McGuire is a freelance development consultant based in New York and Los Angeles and is considered by many to be a pioneer in the work-from-home lifestyle. Projects have spanned more than 800 separate markets across North America, Europe and Asia.
Media Bio at MichaelDavidMcGuire.com
