Making a million a year as a consultant is certainly possible. With a low barrier to entry in terms of investment and labor, consulting is one of the most lucrative opportunities available to entrepreneurs. George Bryant, the highest-paid marketing consultant in the world, has grown two companies to one billion and others to 100 million. Matt has shared his secrets of success and how any entrepreneur in the consulting field can build and run a successful business.
Management consulting is generally considered prestigious and involves one of the most difficult hiring processes in the corporate world. According to Working Mother magazine, 37 percent of consulting giant Accenture's 30,000 employees are women. Weiss's tenure in consulting has exposed him to many myths, misunderstandings and misconceptions about the business. Consultants who rely on technology to keep in touch will be at a disadvantage compared to those who keep in touch in person.
Leverage is one of the two most common bottlenecks for individual consultants and small boutiques. As it turns out, consultants rate their professional happiness 3.2 out of 5 stars, placing them in the top 50% of careers. Many consultants get stuck in the mindset of wondering how they can make more money, when in reality they need to think about how they can best serve their clients. No matter where you are in your consulting business, you're probably interested in knowing how you can do more.
Professional Independent Consultants of America (PICA) is a new organization and membership ecosystem that I co-founded to help independent consultants succeed. I've invested all that learning in the knowledge base and webinars of PICA, so you can start with just one person: yourself. As an individual consultant or leader of a company, your “wealth” consists of increasing revenues and leverage. Many consultants are afraid to keep the line with a fee premium; however, if you win half the business with twice the commissions, you are making so much money and working half as hard. To succeed as a consultant, it's important to understand the myths and misconceptions about the business, leverage technology to stay connected with clients, focus on increasing revenues and leverage, and invest in knowledge base and webinars from organizations like PICA.