Consulting is such an empowering career, and it's all the more exciting when you take your small consulting business into a medium or large corporate to help them with their most pressing challenges.
Contrary to popular belief, rather than chasing specific revenue targets, most people start their own consulting business to give themselves freedom from employment.
That's just as well, as less than 50% meet their annual revenue predictions!
You see, running a consulting business is a lot more challenging than many will have you believe. There's no silver bullet. No one hack or secret. And Facebook ads won't make you an overnight success either!
You think running a consulting business is easy? Here's what consultants tell me:
Most consulting business owners think the answer is simply to get more clients. And I can understand that. Yet most consulting businesses aren't even set-up to handle lots of clients. Most max out at between 3 and 5, and few can handle double-figures.
That's because they're stuck on Time & Materials billing - trading time for money. In top of that, their business is wholly reliant upon them. They have no hope of being able to sell in a team, or achieve much higher profit margins with value-based fees.
This is understandable though as most people start their consulting business to sell their talents. To trade off of their technical capabilities - whether they're a management consultant, and IT consultant, a HR consultant, a financial advisory consultant, or a strategy and business consultant.
That's where their superpower lies. Where they're an expert.
Where they're not, and often have limited experience in, is marketing. Being able to generating leads from cold and warm traffic.
They're also unlikely to have much experience in sales, or if they do, it's been in a pre-sales capacity where the client has already clearly identified their need.
Building a successful consulting business is firstly about developing a sustainable business that you can enjoy.
Sadly, many consulting business owners end up in a business that they hate as a result of the stress it causes them.
Yet once your business is sustainable you can start to really enjoy it! And to enjoy the spoils.
Then you can focus on scaling it.
But for this to happen you need a system - not a golden ticket - they're a thing of legend.
You need to focus on the 4 core elements that make a successful consulting business - Attract, Convert, Deliver and Scale.
When I first started my consulting business I'd been consulting for nearly 20 years.
I'd consulted across multiple continents, countries and market sectors, and for some of the world's biggest companies in their respective sectors.
As Practice Director I'd opened up new offices and built new consulting practices.
But sadly, none of this prepared me for the challenges of running my own consulting business!
So along the way I invested heavily - to the tune of tens of thousands of pounds in business coaches, training courses and programmes.
Yet very little of that investment was actually of any value to my consulting business - something I found out the hard way!
Out of frustration I determined I just had to figure this stuff out for myself.
That's when I created the Consulting Compass.
It's a framework for starting and growing a successful consulting business. Its core purpose is to create structure, and to ensure that you can join the dots - from your marketing, to your sales, through your project delivery, and ultimately to your business operations.
You see, there's no point having a killer marketing method if you can't make a profitable sale, which is then made worse by inefficient delivery.
Everything in your business needs to gel together. It needs to flow.
You Attract leads that you Convert into sales. Your sales become the projects you need to Deliver efficiently and effectively. From there you can Scale your business.
These are the core pillars of a successful consulting business - Attract, Convert, Deliver and Scale.
Together they work as a machine. And if everything works correctly, you've built a money-making machine that you just need to keep oiled and maintained.
More importantly, you've built a consulting business that gives you the freedom and the autonomy that you dreamed of - serving clients with your core skills and expertise, rather than spending all your time trying to learn new skills in the things you don't want to do be doing!
Oh, and that dream lifestyle?
Let's be honest, it's not working from a beach on your laptop. Or the perennial pursuit of a "7-figure business".
It's a consulting business that you enjoy working in, and that funds your chosen lifestyle. Whether that's a consistent $100k/year, or $1m/year.
(Hint: If it's a 7-figure business you're after, you're going to need a team; probably a few people - maybe as many as 10! Don't believe anyone that tells you otherwise!)
So look, here's what the Consulting Compass looks like...
The Six Figure Consultant programme is a combined online training, group coaching, and 1-on-1 mentoring programme that guides you through applying the Consulting Compass framework in your consulting business.
The primary aim of the programme is to develop a sustainable and scalable marketing and sales system for your business. This will give you the tools and structure that you need to create a sustainable and scalable consulting business, including:
This will ensure your business runs smoothly without consuming every hour of your life, and every moment of your focus.
It will elevate you from someone living on the revenue roller coaster - where your business revenue is up and down and entirely unpredictable - to a business with a consistent flow of leads, a winning sales process, and an effective pricing model.
It will help you develop a sustainable business that you love!
If you have an existing B2B consulting business and you have landed clients...
If you are about to start your consulting business and are yet to land any clients (but only if you have at least 5 years experience in the niche in which you want to consult)...
If you are currently, or would like to, sell your consulting services to medium and large businesses...
If you are prepared to go to client site to deliver your consulting (this programme is NOT for online-only businesses)...
...then this programme is for you!
The Six Figure Consultant course consists of 8 modules:
Over eight weeks, you’ll get each project delivered in sequence by video with worksheets in your secure members’ area.
The Six Figure Consultant course is for three groups of people:
The Six Figure Consultant course is for business-to-business consulting businesses that aim to sell their services to medium and large businesses. You don't have to be yet, but that must be your target.
The course is not suitable for businesses who sell to consumers, solo business owners, or small businesses.
Anyone looking for a remote-only online business. We help you to consult to mid and large corporates. That means you'll need to go and see them. To be face-to-face with them. If you want a business where you can work from wherever you want, or sit on a beach all day, then this isn't for you. We focus on the real-world of business, not the nonsense you see in social media ads!
Finally, this is not for coaches. Coaching and consulting are NOT the same thing despite what many people believe. This programme won't help you to run a successful coaching business.
In my quest to build a successful consulting business I tried most of the other courses that are out there.
The Six Figure Consultant programme is different because:
The Sic Figure Consultant programme is 8-weeks long.
I never liked the term homework when I was at school, let alone now I'm an adult!
But in short, if you want to get the most out of this programme then there will be tasks for you to complete each week. Why wouldn't there be!
However, we know that life gets in the way, as too does real client work. Of course, you get out what you put in, but the programme is designed so as not to be overwhelming. And you'll have lifetime access to the online training materials so if you don't get everything accomplished in the 8 weeks, you can still carry on beyond that timeframe on your own.
Yes. Everyone has delivery commitments that can make it difficult at times. However, we do encourage you to attend the live Q&A sessions so that you’ll get the most out of the course and be able to interact with your peers.
We run two group training sessions a week at either end of the day to capture all time zones and availabilities. You'll also have a 1-2-1 session every other week. Do not miss these as they are on a 'use it or lose it' basis.
There's a ton of courses out there to teach you Facebook marketing.
And I use Facebook marketing for my coaching business. But I've never found a consulting client through Facebook. That's not to say it's impossible, but Facebook ads are an easy way to lose a lot of money very fast, and Facebook is not where your clients are at - at least, not doing business anyway!
Instead we focus on using LinkedIn organically (no ad spend) to reach out to your target audience.
No-one needs another shelf ornament!
Everything you need while you’re in the program is accessed in the private member area online.
The benefit of this to you is that, for as long as the materials are available, you get access. That includes updates created after your 8-weeks in the programme.
If we’ve missed anything, or there’s something you need to know, book yourself on a free Breakthrough call. On the call we'll discuss the strategy for your firm, and we can determine if there's a fit for us to work together.
Creator of Consulting Compass
Hi, I'm Martin. I always knew I'd run my own consulting business one day.
And after nearly 20 years of being an employed consultant, I went out on my own.
If only I'd have known how hard it really would be!
Anyway, 5 years on and I was still in business, despite there being so much conflicting information out there about how to run a successful consulting business.
That's why I created the Consulting Compass framework. To teach people what I believe and know is the best way to start, run and grow a successful consulting business.
Copyright - Consulting Compass