There’s a lot of hype floating around in consulting books and on blogs that talk about all the wonderful ways you can get rich overnight.
Well, I’ll tell you straight up – that’s B.S.
The people that talk like that are good at selling their own books and programs … yet few of them have actually run successful consulting businesses in the real world.
In almost all situations, there are only 3 ways to get wealthy as a consultant:
1. Stop charging hourly and move to a monthly retainer.
Once you start using this method you’ll never turn back. It’s been the backbone of a consulting businesse I own and it is extremely effective.
2. Switch your fees to a value-based system.
A lot of people make this strategy sound overly complicated. In its most basic form your clients pay you not on the time you put in or a monthly amount, but rather for the amount of perceived or actual value you are providing them.
3. Partner and profit with your clients.
This strategy won’t work for the novice consultant or when you’re just starting to work with a new client that you don’t have an existing relationship with. However, when the right circumstances are in place this approach can generate more money for you than almost any other method out there.