How to make money in consulting
Since 1997 I have been a consultant. Rates are described here.
There are two types of consultants: 1. those who make money and 2. those who do not make money. To explain in detail, consider the story (perhaps familiar) of Rich Dad and Poor Dad. Then add new titles such as Agile Consultant and Rigid Counselor.
Here is a quick story: Imagine that you have two mentors. One is Rich in material ways, and he regularly provides value to others. He gives implementable solutions, real advice, and teaches others the process of success. He is regarded as an expert in a community of his peers, and he charges a reasonable fee for providing solutions that endure. He explores transformative change using questions. He is agile. His clients and friends regularly call him after hours to exchange ideas. The other dad is Poor in material ways, and may not know why. He charges by the hour and has a transactional view of others. He tries to sell solutions or products. He shifts from project to prospect to possibility with the winds. He rarely trusts others, has few operating agreements or partnerships, and may have material debt. He is rigid in his thinking. He tells others what to do. He may think he is the smartest person in the discussion.
Where are you? Agile Consultant/Rich: 1 2 3 4 5 6 7 8 9 10 Rigid Counselor/Poor:
- Provide process and implementable solutions
- Provide tremendous value and charge accordingly
- Share best-in-class solutions that are practical and actionable
- Be a great performer
- Learn from the best experts
I have had two coaches for the past 7 years. One was born in another country and we have never met. They both help me be an agile consultant.
What do you need to make money in consulting?