18 Buckets of Money: Consulting
For many people, once they launch a website, they do so thinking that “Ok, now the money will just come rolling in.” Depending upon the business, they may just do very well. But, having spent the best part of the last 20 years working with websites, I can tell you that more often than not, it takes a bit of time. Unfortunately, for many businesses (web or otherwise) the number one reason for failure is under-capitalization. Thus, making money right off the bat serves the long term vision of the business best of all. Because I wanted my customers to do well (and therefore be able to pay their bill), I looked for ways to create alternative revenue streams, while the core business would grow in the time they needed. Over a period of time, I was able to discover eighteen of what became known as the “Buckets of Money”.
This is column eleven in an eighteen column series… so with that said, on with the show.
This time around we will look at picking up some money as a consultant. For some people, the term consultant is not met with glee.
Yes, to some it may seem like you are the person not actually doing any work, just a person identifying that some work needs done. I am not such a person, and thus, I can offer you to pursue this. For me, it is just another way to make money. To be clear, if you do know something, something of value, then others will pay you for that knowledge. Of course, if you will share it with them. If by doing that very thing, who loses? In my book, no one does! So, with that out of the way, let us get down to the topic at hand. You may find it, initially cumbersome about how to transition into the “consulting” business. But let me offer you this, no matter what your line of work may actually be, you have likely had someone approach you for a bit of sage advice. A free tip or two. We do enjoy helping. It might seem the decent thing to do, and I agree… to a point. If you can give another person a few moments, even if you offer more as you like who am I to say. But, if it gets into hours of help, hours that your business needs you to attend to…? Do you really want your sites to suffer so that someone else can benefit? I only suggest that you temper what you do, and make your own determinations. But, if you can help them, to a point, then make some profit off of your experience, and your own web sites do not suffer. I suggest you take the opportunity to do so. If you disagree with me on this point, then come back for the next column, but if you don’t let’s take on another bucket. This one we will focus on just a couple of directions to go. Which one you choose depends only upon your how you look at things. Choose the best for you:
- Consulting Approach – With this approach you spend some serious time looking into how your new client is doing business. You compare that to how you do business, then create some suggestions. These suggestions, are all bound together in a nice report, that you deliver back to the client. You may make yourself available for one or two more meetings to discuss the progress being made, but on the whole, once you have delivered the report, you are done. This approach makes the most sense, if you are someone who is more comfortable with your “formula” and want to share it and go.
- Mentoring Approach – This approach could take a bit more face to face time, but less in terms of creating a report! Heavily focused on face to face time, you need to be willing to go the extra mile with the individual(s) in the younger company. This approach makes a lot of sense, if your strength is in people skills, and you enjoy working with others like yourself.
Stay tuned, the next time we are together, we will get to a look into Information Sales!
Wanting to increase your company revenues? Jim has the bucket overflowing for others, join them by clicking here! Perhaps you just want to learn more about Jim, just click on this photo of him!