In a recent post, I talked about having to fire one of my team members. I want to tell you what happened. Hopefully, it helps another entrepreneur not end up in the same situation.
A few weeks ago, I walked away from a consulting deal that I was negotiating with a company here in Asia (not the one I’m consulting for this trip). They wanted to own all of my content after I presented it at their company. I said no and offered to create content just for them–they said no.
They offered six-figures in the deal but said they had to own the consulting trainings that I’ve been giving at companies all year. My attorney and I tried to offer many other options but they were adamant. They wanted to own the content so they could repackage it and sell it as their own.
I walked away from the deal. I know what my content is worth. I made an honest effort to accommodate them but they were stubborn. That usually doesn’t turn into a good business relationship.
My team of virtual assistants has access to certain parts of consulting deals and the companies that I consult for. This former virtual assistant mainly dealt with the companies on my behalf.
She went to this company in Asia directly and tried to sell them my content on the side. Since she has access, she could have easily done it. One of my other team members saw what was going on and alerted me.
I contacted the company and they said the VA offered all of my content for $15K (she low-balled it 😂). She told them she had my blessing to negotiate the deal–which was obviously a lie. We had a meeting and I let her go. I also had my attorney send a “strong” email to the company just in case they did actually get my trainings. We’ll see.
I tell you all of this because my goal is to always show the full lifestyle business picture–the good and the not so good. I have a great team, but I need to do a better job at vetting before I hire new team members. I also need to think long and hard about who has access to what in my business.
Consulting at companies in the way that I’m doing it this year was unexpected (in a good way). I planned on booking consulting, but not at companies in 34 countries in one year. It’s meant having to learn a lot of things on the go. This was a major life and business lesson. If you are using a team, having NDA’s and other safeguards in place is smart.
Paid Consulting Pro Tip
One of the most important parts of a consulting deal is the contract. Doing a consulting gig without a contract is like bungee jumping without a cord.
When you’re starting out in the consulting at companies space, it’s best to target local companies. You can get a quicker decision, do several paid gigs (and make good coin), and get the social proof you’ll need to pitch larger and international corporations.
With smaller companies, you are the one who usually provides the contract. With larger and international companies, they are the ones that usually send you their standard contract. But, you can negotiate the terms you want and add to their contract. It might mean some give and take (it depends on how much of an expert they think you are).
Either way, the smartest thing you can do is hire an attorney to make sure you are protected and that you get a deal you’re happy with.
Two very important clauses of a consulting contract are in this picture. They make up today’s pro tip.
1. Make sure you know what you’re allowed to talk about when and after doing a consulting gig at a company. A lot of times, you can’t even mention the name of the company and that you did a gig there. Know what you can talk about. Know if you’re allowed to do things like put the companies logo on your website and/or use them in your marketing. Make sure your contract allows you to use that company as a reference to other companies that you’re pitching.
2. Retain the rights to your content. Never let anyone own the content you’re presenting–even if they’re offering a bigger fee. Think about how much more you’ll make over your lifetime presenting that content to several events and companies. You can always create special content just for that company. Don’t let anyone own your stuff!
Again, my STRONG advice is to hire an attorney. The legal stuff can come back to bite you. Here’s to you and getting booked this year!
If you’ve followed my journey this year, you’ve seen me traveling to countries all over the world for consulting gigs at some amazing companies. I’ve done consulting gigs in 14 countries so far.
I’ve done major consulting tours in Europe and Asia. I’m currently in Tokyo. After Asia, I have gigs/tours in Africa, South America, New Zealand, and Australia.
I’ve been able to do one-off trainings and get generous fees, license my online courses at a rate of $2K an employee, and sell automated training programs/temples for $45K and up.
I want to teach you how to do all of this. I can teach you how to book paid speaking and consulting gigs all over the world. I’d love to show you exactly what I’m doing and how you can do this, too.
You DON’T have to travel as much as I do. You can be selective and only do a few gigs. You can be Skyped into a company and do a consulting gig without leaving your home. There are MANY options when it comes to consulting at companies, and many ways to make an incredible income.
The cool thing is that everything I’m doing/teaching (and booking gigs in general) is repeatable. These aren’t strategies or a system that only works for the person teaching it. I have coaching clients/students in my classes who are booking paid speaking and consulting gigs every week. This month, I’ve helped five clients book their first international consulting gigs.
My “Get Booked” class won’t run again live until next year. But, you can get the home study version. The window to purchase closes on Sunday.
The class teaches you how to build your foundation and consultant’s social proof, how to find and book paid gigs worldwide, and all the nitty-gritty details. It’s very step-by-step without any fluff. The graduates have said it’s one of the best classes they’ve taken.
This is what graduate Mitch Swergold had to say:
“Kimanzi, Thanks for an absolutely career-changing class! To describe it as anything less would be to sell it (and you) short. I’ve invested in a number of classes and coaches in the past. Some were good, some quite good, NONE like this. This class was AMAZING. It very clearly showed me what I need to do to achieve my goals. In fact, it helped me to see that my goals and how I was going about achieving them needed significant change. I can’t thank you enough.
You came well-recommended from someone I trust and respect, but the price tag, I must admit, gave me pause. The old adage is true: you get what you pay for. I wholeheartedly recommend Kimanzi and his class to anyone seeking to build a lifestyle business. He’s also just a fun guy to talk to. I bet even better with a few beers. Cheers to you, Kimanzi, and many thanks!”
If paid speaking and consulting (nationally or internationally) is something that could benefit your life and business, check out the details of the program: http://kconstable.com/