If you are in the online/Internet marketing space, you see a lot of the same things. You hear about passive income and creating products to sell. You hear about social media marketing and all the hot-at-the-moment social strategies. You see someone doing well with something–like Live video–and everyone follows the trend. This year the “hot” things seem to be messenger bots, Facebooks ads, and funnels. You can’t blink without seeing a new expert in one of those categories. What happens is that there are many entrepreneurs who want to make money and see the trending ideas as a way to do that quickly.
There are a lot of entrepreneurs who have been at this for years without making any real money. So, when someone posts about making a bunch of money with a new trend, it’s alluring. While there may be real opportunities in the trends, it’s for those at a certain level in their business. The real money that’s made day in and day in out comes from establishing a foundation in something and going deep.
Most entrepreneurs look to the online/Internet marketing space while ignoring a space that has been around as long as business, in general, has been around. That space is the consulting at companies space. When I say “companies,” I’m talking about every day, mainstream businesses. The kinds that have lots of employees, operations, budgets, and structure. Not so much the soloprenuer or Internet entrepreneur type businesses. These can be midsize to large companies that you hear about and use their services.
It’s estimated that 57% of businesses worldwide don’t have a website for their business. The fact is that these larger companies move slower than we would, which creates a lot of opportunity for consultants. Companies spent $42.4 billion dollars on training in 2014 according to Bloomberg. They paid outside consultants $39.3 billion dollars last year according to Business Week. When I tell you the opportunity is good, I mean it. Today, I want to share some benefits of consulting at companies and why more entrepreneurs should be considering it.
Bypassing the Crowd
I don’t have to tell you that the online space is crowded. Think about how many Facebook ads you see every day from different entrepreneurs trying to sell the same type of training. Think about how many of the same podcasts, Facebook groups, online courses, marketing strategies, and a bunch of other stuff that is being marketed to the same people on a daily basis. A lot of people online are frustrated, tapped out, and/or looking for something more.
You don’t see that in the consulting at companies space because most entrepreneurs don’t know how to get into that space. There isn’t much information online and even with the info, you’ll need strong guidance to book your first consulting gig. With companies spending $39 billion dollars, that leaves a lot of money for a small group entrepreneurs. Think about that for a minute. You can take the knowledge and skills you have from the online space and teach them to mainstream businesses. They’ll pay you good money to do so because they are behind the curve and want to learn the online stuff.
Multiple Ways to Get Paid
When it comes to consulting at companies, there are multiple ways to make an income. You can do one-off training from $10K-$100K, license your online courses at a rate of $1K-$3K per employee, book high-end coaching in the range of $15K-$60K, and sell comprehensive training programs and temples at rates of $15K-multiple six-figures.
I base these numbers off of what companies have told me they’ve paid consultants in each of these areas this year. This is just the tip of the iceberg. Once you get in good with a company and do a good job, they will come back to you for more work and in different ways. I’ve done a lot of repeat business with companies that I’ve consulted for over the last five years.
I’m not sure what your core topic is, but I do know there are companies worldwide that would pay generously for your time, knowledge, and expertise. I know that you can get your travel expenses covered and the expense of bringing your family. You can make it an international family vacation and/or a romantic getaway with your significant other.
The work is challenging, which forces you to step your game up. You are treated well when you come into a company for consulting. Travel, expenses covered, rock star status, future opportunities, and a lot more money than you can make in other industries.
Companies aren’t limited by a budget like a customer online would be. They have big money to spend on training and they won’t hesitate to do so when they see the value. More than that, think of how many companies there are worldwide. You just need to get the first few under your belt. Once you do, it will be easy to lock in more deals, get referral business, and get exposure to other consulting opportunities. I’ve booked 35 paid consulting gigs this year and I’ve only scratched the surface. You can do some amazing things in this space.
I wrote this post because I want to help some entrepreneurs think bigger. We’re often limited by what we know and are comfortable with. Consulting at companies is not easy to get into but that doesn’t mean it’s impossible. You can take the knowledge and skills you have right now and get paid MORE. Think about it and start taking action on it. If you don’t know where to start, here are some resources:
- How to get started in consulting.
- Where to start.
- What companies are looking for in a consultant.
- Topics that companies will hire you to consult them on.
- How to book your first international gig.
- How to book your second international consulting gig.
I hope you’ll think about it and I hope the content helps you get started. Here’s to you and booking consulting gigs at companies all over the world this year!
Are you going to pitch companies on what you do?
In 2012, social media was starting to boom and everyone wanted to know how to cash in on social media marketing. I saw an opportunity.
I knew that companies would move slower than entrepreneurs on implementing social selling. So, I started looking at local companies in Milwaukee that I could target for social media consulting. I pitched all kinds of companies.
In late 2012, I booked my first official consulting gig at a company. It was a $500 social media marketing consulting contract for a local McDonald’s franchise owner.
It wasn’t much money but I worked my butt off. I taught his team everything they needed to know about the basics. He was so happy that he referred my consulting services to three other local business owners. Thus began my journey into company consulting.
Since that first contract, I’ve booked consulting gigs at companies in 59 countries over the last five years. This year alone, I’ve done consulting gigs at companies in New York, Amsterdam, Dublin, London, Paris, Barcelona, Rome, Hong Kong, Bangkok, Manila, and Tokyo so far. I have gigs booked in 16 more countries, and I’ve already booked ten international consulting gigs for next year. I’ve also helped my clients book consulting gigs in 12 states and 18 countries this year.
Companies paid outside consultants $39 billion dollars last year. From the gigs that I’ve done and the CEO’s/COO’s/HR managers/department heads that I’ve talked to, I can tell you the opportunity is crazy good.
You can do one-off trainings from $10K-$100K, license your online courses at a rate of $1K-$3K per employee, book high-end coaching in the range of $15K-$60K, and sell comprehensive training programs and temples at rates of $15K-multiple six-figures. I base these numbers off of what companies have told me they’ve paid consultants in each of these areas this year. Heck, I’m sure there are consultants that are getting even more than this.
I run a class called “Get Booked” two or three times a year. This class teaches someone how to become a paid speaker and consultant worldwide. It shows entrepreneurs exactly what I’m doing this year and what I’ve done over the last five years in the paid speaking and consulting space.
While the live class won’t run again year, you can purchase the home study version. This Sunday (23rd) at 10 pm CST is the deadline.
You get the recordings from the live class, all the class documents (which includes sample contracts, signed contracts, pitching templates, successful pitch examples, and much more), and access to our private group. I’ve taken 37 entrepreneurs through this class and have gotten great feedback.
If booking paid speaking and consulting gigs all over the world is one of your goals, check out the details and see if this is right for you: http://kconstable.com/get-booked/