Ten strategies to grow your consulting business
While it's relatively easy to get started as a solo independent consultant and get a few initial clients, growing your consulting business beyond the billable hours you have in you each month while delivering on your commitments requires some strategic thinking.
Here are ten strategies to grow your consulting business:
1 - Develop a niche
When you focus on solving a specific problem for a specific type of client, it becomes easier to market your services and be known as an expert in your field. This also allows you to command higher rates.
2 - Create packages or products
Offering packaged solutions or products allows you to sell more of your time and expertise upfront, which can lead to more predictable and recurring revenue.
3 - Focus on high-value activities
Identify the most valuable activities you can do to grow your business and focus your time and energy on those. This might include networking, writing articles or blog posts, or speaking at events.
4 - Delegate or outsource non-essential tasks
Once you've identified your high-value activities, delegate or outsource the others as much as possible. This will free up your time to focus on revenue-generating activities.
5 - Raise your rates
As you gain experience and results, don't be afraid to raise your rates. You should be charging what you're worth, and your clients will be happy to pay if they're getting results.
6 - Get creative with marketing
There are endless ways to market your consulting business. Be creative and try different tactics to find what works best for you. Don't discount paid traffic to a landing page as an option.
7 - Build strong relationships
Strong relationships are the key consulting business. Nurture your relationships with clients, referral sources, and others in your network. Be authentic and patient to ask for the sale when the time is right.
8 - Develop partnerships
Strategic partnerships can help you reach new markets, tap into new networks, and grow your business more quickly. Consider companies that have services that have synergies with what you do and serve the same target client profile.
9 - Think long term
Growing a consulting business takes time. Be patient and focus on building a sustainable, long-term business. Don't sacrifice a long term contract opportunity over short time gains.
10 - Adopt a mindset of abundance
When you operate from a place of abundance, you open yourself up to more opportunities. Structure yourself financially to have some breathing room, believe in your ability to attract clients and grow your business, and it will happen.
By following these ten strategies, you can set your consulting business up for success. What strategies have you used to grow your business? I'd love to hear from you. Share it below and receive a human response with recommendations!
Hello, I'm Marco.
I help Consulting Business Owners gain grounded perspective, think and execute strategically, developing and implementing systems so they can grow their business to multiple 6-figures without losing their health, relationships and their mind in the process.
Here are a few example areas I can help you with:
Finding clients, developing winner proposals contracts.
Smart marketing, offer and product development, pricing.
Identifying strengths and weaknesses, building on points of leverage and delegating strategically.
Finding and making new hires.
Transitioning from solopreneur to business owner.
Making strategic decisions with confidence.
Building and nurturing relationships. Developing strong partnerships.
Adopting a Sustainable Performance + Business Owner + Executive Mindset.
Successfully managing clients and client expectations
Building recurring revenue for growth.
Feeling secure and reducing anxiety while being self-employed.
We’ll follow a 3-step process to get clarity and achieve your goals:
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Dive directly into the key pain points such as costs, revenue or burnout and implement any urgent measures necessary.
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Fuel: Business: Cashflow + Personal: Energy and Vitality.
Vision: Get clear on a business vision that aligns with personal priorities. Review business and personal SWOTs. Mitigate cognitive dissonance and benefit from the alignment of having a clear True North.
Systems: Sales and Marketing, Delivery and Fulfillment, Product Development, People, Organization and Productivity, Operations, Stakeholder Management.
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Get clarity on the key points of leverage available and act on them strategically.
Transition from playing reactive whack-a-mole to more predictable, productive and energizing weeks as systems are gradually implemented. Compounding is a powerful force of positive change.
Implement business and personal changes that stack the cards in favor of the desired behaviors and outcomes, so the river current you're in is taking you where you want to go, rather than requiring you to constantly fight it.
Learn from benchmarking, optimize market positioning and differentiation.
Make space to breathe and properly celebrate progress in support of sustainable high performance, so the journey can be enjoyable.
Explore product development and sales channels opportunities for growth.
Consolidate business operations and delegate wisely towards more personal freedom and a business that doesn't depend on the owner to run.
Learn about my journey.
An experienced consultant and coach, I have spent the last 20 years working in Tech, Digital Business, Consulting, Coaching, and Entrepreneurship, from working for Fortune 500 Companies – Nestlé, BASF, TEREX – to leading an 8-figure portfolio of accounts - Expedia, Gates Foundation, Alaska Airlines - for Avanade/Accenture, and taking leading growth roles in software product development companies like ThoughtWorks, while running my coaching practice.
My passion for coaching began over 15 years ago with my own evolution with the support of coaches, leading me to take ICF accredited coaching training in 2007, establish my coaching practice, and continuing learning and developing in the space. Among numerous programs, tools and coaching – to the tune of $250K over the years – I have recently completed the Optimize Mastery and Coach program (also an investor), which applies insights from ancient wisdom and modern science in support of leading a high performance and fulfilling life. I truly love coaching.
As a driven and ambitious (for life) person I continue to play Strategy & Growth related roles at professional services firms such as the leadership development company Potential Project and the startup studio UltraHaus, while coaching. I lead an engaging business, family and individual life and embrace sustainable performance along with work-life integration for my self and in the support of my clients.
On a more personal note, I am an avid reader and student of business, tech, personal finances, innovation, and cutting edge personal development. When I’m not working you can find me learning, having deep conversations, traveling, hiking, spending time in nature, and with my family, our dog, and friends. Originally from Brazil, and after 20 years in the US, I'm now based in Lisbon, Portugal.
Kind words from clients.
“…You help me to see the bigger picture of where I want my business to go. No just focusing on the day-to-day. You seem to always be thinking about my options. You consider multiple ways that I can solve the same problem. You keep me on track. Knowing I have a meeting coming up with you ensures that I get things done. You’re not afraid to disagree with me. Or point out when I’m being short sighted or doing something that I’ve said I didn’t want to do…”
Kristen M.
Company Culture
“…Largely thanks to his coaching, I have grown in my skills, confidence and ability to influence in new and unexpected ways. It’s not often you find someone who helps you align your inner and outer world, is both relentlessly optimistic and relentlessly honest, is generous with his own insights without being directive. He always helps you to get to a position where you can choose from various options, and coaches you to see your choice through. I would really recommend working with him if you have the chance!”
Annemarie P.
Innovation
“I am a new business owner with no formal business training so having someone like him to help me focus my energy on tasks that will help grow the business is incredibly valuable. He has a wealth of knowledge and has been eager to help me grow my business by tapping into his professional and personal experience. He has also been very good at meeting me where I’m at by digging in to understand what I want my business to look like so he can help me get there, rather than just telling me how he thinks it should grow. I highly recommend Marco and look forward to continuing to work with him!”
Chris G.
Wellness
“Everybody needs a coach.”
— Eric Schmidt, Chairman of Alphabet and former CEO of Google