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As I mentioned in my Saturday Project Update, I do some consulting for a variety of artists and other bloggers. However, since the needs of my clients are rarely the same, I most often find myself custom tailoring a consulting package for every new client. This means that I don’t really have any standard packages and that my prices are all over the map.
What I like about this is that in any single day I can work all of my given strengths and spend time doing many of the things that I enjoy. I’m not stuck on a particular model or activity long enough to get bored, and I’ve got the freedom to plan my days how I want.
However, as much as I love consulting and as great of an income builder it can be, there are some potential pitfalls that have had me questioning my desire to continue.
- Consulting forces you to trade hours for dollars. If you are struggling to make money, then this might be a great deal for you, however if you find that you don’t have enough time to work on your big money projects, then consulting will only make it worse.
- Consulting emergencies pop up from time to time, forcing you to abandon everything you had planned in order to fix a problem or put out a fire. Although this isn’t a great way to remain consistent, it is the price you pay for the work.
- Consulting can take you in different directions, meaning that your business lacks focus. It is tough to plan a business when you don’t have unity of purpose and it can be a frustrating experience when you try to make sense of it all.
Now, although these 3 factors can be a deal-breaker, there are ways that you can mitigate their effect so that you can still be a consultant without having to dedicate your life to the clock.
- Hire a team to help you manage mundane tasks so that you can free your time for more important things. Many people won’t want to do this because of the cost involved, but you have to ask yourself how much your time is worth. Does the CEO of Wal-Mart spend time sweeping the floors or stocking the shelves? Doubtful…if you are charging enough, which you should be, then you have more than enough spare cash to hire someone to help you.
- Set clear boundaries when you take on a new client. If you have established work hours, then make sure that they know this and are comfortable with it. If you set a deadline, stick to it. If you have to drop everything for a problem, then charge extra for it. Remain in control of your own time or the client will dictate your time for you.
- Offer email consulting rather than phone consulting as a way to free up your time. Although I still do over the phone strategy sessions, I spend most of my time replying to emails. I offer unlimited email consults with many of my packages, which allows me to respond on my own time rather than having to allot 30-60 minutes for a phone call in the middle of my day. This is even easier with my iPhone, which allows me to do business from anywhere.
- Offer streamlined packages rather than monthly consults – I’ve toyed with this over the past few months and will soon be moving all of my consulting services over to this model. Rather than offer a monthly service, I will be offering kick start packages custom tailored for each individual client, but streamlined enough to allow me to do other things. Really, many of the tips you offer on a monthly basis are similar across the board and although they might vary based on the service (Twitter, Facebook, LinkedIn, YouTube), there are ways to create a package that allows a client to be a DIY client rather than one dependant upon your time. Combine a DIY blueprint with unlimited email consultations and you have a strategy that allows you to make most of your money upfront and still be able to charge a monthly fee. If this doesn’t work for you, then refer to point #1.
Consulting is a strange beast, but it is a great moneymaker when you take the time to think about your services up front. If you don’t mind being a slave to the clock or trading hours for dollars, then you won’t have any issues. However, if you still have a slew of projects begging for your time, then think about changing your model using one of the 4 strategies listed above.
It may not bother you at first, but over time you’ll feel the need to make a change. Better to fix it before a problem arises than in the middle of a busy year.
On a side note, I’m interested in hearing about your consulting experiences. Comment below and let me know if you’ve experienced any of these issues and if so, how you solved them.
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