Consulting Success the Definitive Guide to Start

million or more a year, as a consultant, you have the ability to do this. Of course, you shouldn't expect to reach that level overnight. I'm not offering any get-rich-quick schemes or a path to instant wealth. The consulting business requires hard work, motivation, and determination on your part, but genuine success is achievable. I know because I've been doing it for many years.

THE CHALLENGES YOU'LL

FACE

hile consultants enjoy many advantages, they also face some difficult situations. My goal with this book is to arm you with the tools, strategies, and knowledge you need to deal with every challenge you'll encounter. Let's take a look at some of the common challenges.

LONELINESS, DETERMINATION, AND MOTIVATION

This may sound like an insignificant challenge.

You might think, "That's not a problem for me," and you may be right.

But until you dedicate all your time to becoming a consultant, you'll never know how prepared you are for these challenges.

The fact is, most consultants work alone, many from a home office.

I actually recommend using a home office, but we'll discuss that later.

However, when you spend a lot of time working by yourself, you must be ready for what comes with the territory.

You will feel lonely at times, so be prepared.

You'll find yourself sitting in your office, staring at your computer or a piece of paper, with no one to talk to.

You'll have distractions all around you, from your TV, to surfing the web, to whatever else you can find to take your mind away from your work.

One of the greatest characteristics that a consultant can possess is motivation.

You must be able to motivate yourself because, without a doubt, you will question why you're doing what you're doing.

You'll ask yourself if you really should be in this position where you have no stable income, have to constantly deal with clients, and have no one to talk to regularly throughout the day.

It's not easy, but when you accept this as a normal feeling that you WILL encounter, you're halfway there.

You see, most people give up when they have this feeling and never really become consultants.

They dip their toe in the water, but as soon as they feel the icy chill, they run away.

That's not how you reach success.

I often find it helps to just get out.

Set as many meetings with clients or

prospective clients as possible. Schedule meetings with other consultants in your city. Getting out and talking with others usually restores your motivation and brings back the drive to succeed. The key to staying motivated during times of uncertainty starts by

asking yourself one critical question that not enough of us ask ourselves

"What are you great at?" While you might find this question simplistic, I assure you it's extremely powerful. Each of us has a strength, some area in which we excel, whether it's a natural ability or one that we've developed over time. At some point in your life, you'll find yourself (if you haven't already) searching for your passion. Wondering about your purpose on the earth. Thinking about your next step. Wanting to become more successful. At times like that, ask yourself, "What am I really great at?" Allow me to offer you some suggestions that will help you answer that question.

Answer the following

When do you feel most passionate or excited?

What does the environment around you look like when you feel happiest?

What do friends, family, and colleagues praise you for?

What do people always ask for your advice about?

Over the last decade, I've learned that I'm a great educator.

I feel honored and satisfied when I work with clients and coach business owners and consultants.

The first time I gave a presentation to other business owners, I felt nervous.

Though I had some confidence, I had a serious case of the jitters.

After the presentation, however, I felt only elation.

Not only did the participants come up and ask me questions, but the organizers of the event said it was a hit.

That made me feel good.

I made money that day, but it wasn't about the money.

Giving back to others and sharing my experiences was a wonderful experience.

It's not always easy to figure out what you're really great at, but only you can decide what is right for you.

You owe it to yourself to at least entertain the idea of doing what you feel passionate about, even if it might make your life more difficult in the beginning.

It's worth your time.

It's your life, and you only get to live it once.

Make it count.

Once you figure out what you're great at, you'll feel more purpose and more energy. When you spend more of your time working in an area that you're great at, not only will you be happier, but you'll also become more successful. Keep yourself motivated. Create goals and work toward them. That's how you'll start making it in this business.

CLIENTS, OH MY CLIENTS!

You can't avoid dealing with client problems.

Even if you pick your clients very carefully and only take on projects that you're interested in, there will still be times when things go wrong.

Client problems usually happen when you least expect them, so they can be a shock to your system.

Maybe the work you thought would improve your client's business hasn't done so, and they want answers.

Or maybe the payment you were supposed to receive hasn't arrived, and you're starting to worry.

You're bound to make mistakes from time to time, and when it happens, you have to find a way to correct them and make sure your client stays happy.

Expect client issues, and don't get down on yourself.

They might feel like a punch in the stomach, and you might find yourself wondering if you're in the right business.

Consulting can feel like riding a roller coaster sometimes, with many ups and down.

So, what helps?

Always be honest with yourself and your clients.

Understand that when these challenges arise, it's better to deal with them right away rather than hiding and hoping they'll go away on their own.

Enjoy the business when things are going well.

When they aren't, recognize that it's just part of the cycle.

Work on improving the problem, and you'll get back to the good times soon enough.

Yes, the bad days feel horrible, and often the good days just feel ordinary.

But the days when you score a big contract or get a big "thank you" from a client are wonderful.

They make it all worthwhile.

LEARN, LEARN, AND LEARN SOME MORE

One of the keys to successful marketing and developing a thriving consulting practice is to constantly be learning.

The best and most experienced marketers don't sit at the beach all day, content and comfortable that they know everything.

On the contrary, they are well aware that they don't know it all.

They shell out their hard-earned money to continue learning.

They attend seminars, purchase books, try out new technologies, and pay thousands of dollars to work with coaches.

I can't tell you how important it is to read more.

As you work to establish your business, you may find you have less time to pick up books and learn.

I know; I've been there.

I resolved to change that, and so should you.

I decided I would always MAKE time to read, and that's what I've done.

I usually have several books in front of me, on subjects ranging from business, marketing, and economics to psychology, creativity, sales, and fitness.

Every time you pick up a book, you find yourself thinking of new ideas for your own business and life.

You learn new things, become more knowledgeable, stimulate your mind, and get exposed to experiences, cultures, thoughts, and ideas that you otherwise might never learn about.

The most successful people in the world read.

The majority of them read A LOT.

Some of the most successful people I know read at least two books a month.

That's twenty-four books a year.

And that is what I do now.

As Mark Twain said, "The man who does not read good books has no advantage over the man who cannot read them." The moment you stop learning is the moment you start to decline, not just mentally or physically, but financially, because your competition continues to learn.

They gain the advantages you once had.

Soon, they'll knock you off your comfortable position, and you'll be left trying to catch up.

Learning without implementing gives you book smarts.

I mplementing without learning means you'll get a lot done, but there's a good chance you'll be doing the wrong stuff, and you'll waste a lot of time and money along the way.

Implementing as you learn on an ongoing basis is an extremely

powerful combination.

MAKING YOUR BEST INVESTMENT

You can make a stable income as a consultant.

The idea that working a 9- to-5 job is more stable than being a consultant is largely a myth.

Sure, there's some truth to it.

For example, working as a regular employee gives you all of the medical and insurance benefits you won't get as a consultant.

Then again, as people have learned in tough economic times, your job as a regular employee isn't always as safe and secure as you think.

You can be laid off, downsized, or made redundant at any time.

However, you won't get something for nothing when it comes to earning a stable income with consulting.

You need to consider a few truths about consulting to give yourself the best chance of success.

First, it's important to realize that you will have some start-up costs for equipment, marketing, and promotion, which all businesses need in the early stages.

These things require money, but you should look at them as a smart investment.

Not long ago, I sat down with my financial advisor to review each part of my portfolio: stocks, bonds, mutual funds, hedge funds, cash, and all the other good stuff.

I had put money into another business, but I was considering placing it into a holding account for the new business I was launching.

I wanted to do this partly for protection, a buffer against any rough spots the new startup would face, but also fo r marketing and promotion.

Doing this would've meant I was contributing less to my investments, so I expected him to talk me out of it, to try to convince me to invest in the markets instead.

He didn't.

Immediately, he said, "A business is the best investment you can make." That has been my experience over the years, so I was happy to hear him say it.

While investing in your own business can often present risks, the huge growth potential you get makes it worthwhile.

Investing ,000 and getting ,000, ,000 or ,000 in return after a few years would be considered exceptional, but when you start a consulting business, it's not uncommon to make ,000, 0,000, even 0,000 in the first year or two.

In no way am I suggesting that you take your life savings and drop it all

into starting a new business.

However, investing in yourself is often the smartest investment you can make, and it offers the highest potential return.

Once you make the start-up investment, you need to consider who's going to pay you.

As a consultant, you control how many clients you work with at any particular time.

Some work with only one a year, others work with ten or more.

Having multiple clients provides protection, so even if one of them leaves, you still have income from the others.

Now, I can imagine what you're thinking. "Yeah, but having multiple clients to work with all the time is hard." It's only hard if you structure your consulting business the wrong way.

In order to keep your consulting income stable, you have to set up ongoing work with your clients.

That way, your projects aren't limited to a day, week, or month.

I've used this structure successfully for years.

In the Fees and Pricing chapter of this book, I'll go into detail about how you can make this work for you.

It's a great feeling to have ongoing and consistent income from consulting projects, and I'll show you how to do it.

A DAY IN THE LIFE OF A

CONSULTANT

veryone has a different schedule, so I can't tell you specifically how to schedule your time.

What I will share with you is my typical day as someone running a consulting business for more than 18 years.

My schedule has changed a bit since I started.

The biggest shift occurred when my daughter was born.

At that time, I decided to work less in order to be there for her.

I wanted to ensure she saw me as a father who was present.

That's a choice I made and was able to make because of the flexibility of my business.

In the early years of my business, I tended to wake up between 5:30 and 6 am every day, and then I'd work until 9 or 10 at night.

You don't have to do that, and I don't recommend it.

There's no good reason to kill yourself with work or neglect your family.

However, I will say this: in the early stages of your business, the more focus and commitment you make, the more momentum you will generate.

Getting traction in the early stages can be tough, so you can't afford to be too laid back or complacent.

As you make progress and build your business, you will reach a tipping point where a lot of good things start to happen.

At that point, you can change your schedule.

You won't need to chase as many clients because you'll be getting more referrals.

Here's what my schedule looked like in the early years.

After waking up by 6 am, I'd go into the living room to do some morning stretches.

When you sit down and work on a computer for much of the day, it's important to keep your body in good shape, and stretching is one key.

Next, I would have breakfast with my wife, read a magazine I subscribe to, or check the global news headlines.

Then, I'd get on my computer, checking and replying to emails.

I'd also read several blogs and other sources of industry information to make sure I was up to date.

The phone didn't usually start ringing until 9:30 or 10 am, so in these initial few hours, I tended to get a lot of work done.

By this time, I'd showered and freshened up.

On some days, I'd schedule 10 am meetings with clients, though I usually preferred afternoon meetings, as I could keep focused and get more done in the mornings.

I typically took a lunch break when I didn't have a lunch meeting,

which I scheduled once or twice a week.

I always thought it was important to take thirty minutes to an hour for lunch in order to step away from work, relax, and enjoy the day.

After lunch, I dove right back into work.

I spent the afternoon on the phone, sending emails, and getting work done for my clients.

I always had several meetings each week, though I recommend not scheduling too many, as you need to spend time working on actual client work, studying, researching, and preparing for your next meetings.

Since the early days, my schedule has changed.

I'm up by 6:30 am and by 7am I'm at the gym.

I come back, shower, have breakfast with my family, play with my daughter and head to the office by 9 am I spend the first hour or so of each day doing high-level work without any distractions.

Typically, on days I have calls, I start them at 10 am I used to work from home, but since the birth of my daughter, I find that having an outside office space gives me more quiet and more focus.

I work at the office from 10 am to about 4 pm, depending on the day.

Sometimes I take off earlier, especially on Fridays.

My schedule has become quite flexible, which is nice.

After that, I go back home and spend the evening with my family.

I might do a little bit of work at home later in the evening, if something is urgent, but most of the time, I'm done for the day.

Ultimately, my family is the most important thing, and that's why I do what I do.

I get to make an impact and leave a legacy for my loved ones.

More than that, I want to be present.

My schedule now permits me to focus on that.

I start off my day with exercise to ensure that it gets done.

As the day unfolds, and the work piles up, it becomes easier to push the exercise aside, so I make sure it happens first.

Plus, I believe that exercise and health are critical components in success.

My business is at the point where I can work from almost anywhere, so I travel with my family a lot more than I used to.

We've spent time in Japan, Mexico, California, Malta, Europe, Toronto, and many other places.

I'm able to get my work done in any of these places.

In the early days, it wasn't like that.

I didn't have the same amount of freedom.

Bear this in mind when you're starting out.

Don't neglect your health or your family, but put in the hard work, stay focused, and you'll make progress faster.

When you do, your schedule will eventually open up and provide you with a lot more flexibility.

Do you have to work twelve hours a day in the early stages of your business? No, definitely not. But if you want to reach success, you have to do the hard work and the long hours to get there. Later on, when you're traveling and enjoying more free time, you'll be glad you did.

HOW MUCH MONEY CAN YOU

MAKE AS A CONSULTANT?

o now you understand what's generally involved in becoming a consultant.

We'll get into the details in upcoming sections of the book.

What you're probably most interested in finding out is how much money you can make.

Is becoming a consultant a good source of income?

The answer is a definite yes.

As I mentioned earlier, you can work hours that many people might consider part-time and still make ,000 or more a year.

Experienced consultants typically charge at least 0/hour.

Some, myself included, charge over ,000 a day and make at least