Figuring out what kind of consulting business model to use can make or break your business. Of all of the ways you can offer services and charge for services, which one is the best to go with when you’re just getting started?
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Table of Contents:
0:00 – Intro
0:22 – The Model
1:13 – Frontend Package
5:22 – Addon Package
7:29 – Reoccuring Package
12:30 – Productized Service
16:18 – Outro
Best Consulting Business Model For New Consultants
What’s the best consulting business model to start with?
In this business consulting guide, you’re going to learn how to start a consulting business as well as the best consulting business models you can use when you’re just getting started.
One of the profitable small business ideas you can start with is a business consulting service. Also, when starting a consulting practice, you are monetizing your passion and skills. That’s why it’s easy to start.
Of course, when you start a consulting business you also need to have a consulting business plan which we will share with you in this video. We’ll share with you the three best consulting business models you can start with, and these are: Front End Package, Add-on Package, and Recurring Package.
We’ll also discuss with you how you can actually scale with these consulting business models that we have developed over the past couple of years. The business consulting model you want to use will also depend on what size of consulting business you want to have.
Choosing the right business model is vital to your overall success as this is one way to acquire new and loyal clients. When you offer the right packages, this will surely help your business consulting success.
When you sell your front end package for consultancy business, make sure that they are concrete and complete solutions. You want to market yourself as the expert to deliver a specific result – not the handyman who fixes random things that break.
Remember, the best way to productize your service is to create packages for results. You have to think of it as you selling a result. That’s why we’ll also discuss here how to productize your service. Of course, we’ll be sharing our actual process for making sure clients are kept happy and satisfied through the entire engagement process.
Sometimes you’ll find that there are common questions or side projects that come up while offering your main package. You can create an add-on package to address those.
Now, once the initial engagement is complete, you want to follow it up with some lower priced offer to keep working with them. The primary goal here is to keep the door open for more engagements in the future, and give you some predictability in your cash flows.
Now, quick question for you: would you rather be paid like an Uber driver or an F1 race car driver? Because the answer to this will not only determine your consulting business model but also how profitable your new consulting business will be.
In this video, we’ll skip the part of how to get clients for consulting and we’re going to focus on your actual product offerings. So, if you want to know which of the best consulting business models is right for you, then watch this business consulting guide video. Know the consulting secrets to help you grow your business!
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