Consulting: The most overlooked growth strategy
It can be tough to grow your business or side-hustle when you’re focused on a single stream of revenue. What happens if that stream dries up?
When your business is reliant on a single stream of revenue, you are putting all of your eggs in one basket.
If something happens to that stream – whether it’s a natural disaster, economic recession, or technological advancement – your business could be doomed…
A great way to protect your business from this risk is to expand your business model and generate revenue from multiple streams.
This will make your company more sustainable and less reliant on any one particular stream.
One easy income stream you can “turn on” at will is providing consulting services.
If you have expertise in a particular area, you can provide consulting services to your customers, students, and followers.
The secret is to know how to package the service so it’s valuable for your students and profitable for you to carry out.
Here are a few types of consulting services you can try:
- In-depth 1 hour call ($$$): charge $100 (or more) per call.
- 1-on-1 coaching ($,$$$): charge a premium for students to access you or your team
- Custom Roadmaps ($$,$$$): through a series of calls, help students map a course of action BEYOND what they’d get in your course
- “Do It For Them” service ($$$,$$$): Students agree with your methods and teachings — they just don’t have the time or patience to do it themselves. And a handful of your students will have the deep pockets to hire your team to do the work for them. Close the deal with them and get to work!
To get started, simply use a digital marketing platform to create a landing page or PDF explaining what services you offer, what the package includes, and how much it costs.
The packages you create should compliment the product or courses you offer by addressing further questions or deeper problems that might arise.
When your package is ready, post it on your website or blog, promote it to your students, and find appropriate places with your products and content to recommend it.
NOTE: If you’re promoting within paid courses, do not oversell these packages. Nothing is more annoying for your students than to be sold to within the courses that they’ve paid their hard-earned money for. Mention them sparingly and only in the few places they’ll be most appreciated.
I’ve used this method in the past to generate great extra revenue and better help those who find my information valuable — win-win!
And a bonus:
You can “turn on” these consulting services on and off as needed. So if you find yourself with some down-time, you can easily notify your following that you are now accepting commissioned work.
And once your calendar is booked up to the brim or when your main streams of income pick back up, you can always send out another notification that you’re no longer accepting commissioned work at the moment.
If you want this to happen on auto, you can use a simple app like Social Bee to post announcements on auto on a continuous basis — that’s evergreen money for your business…
Boom 💪🏾
Give this a shot and keep the questions coming.
Your feedback is valuable and I always enjoy answering your questions.
Peace and Love,
Jesse “The Consultant” Young El