January 18, 2020
Consulting Business Ideas To Grow Your Income In 2020

Consulting Business Ideas To Grow Your Income In 2020


You want to grow your own consulting business
but you’re not quite sure which direction to take. Here are five hot and highly profitable consulting
business ideas. For more advice on how to grow and scale your
own consulting business, subscribe to my channel and hit the bell so you are notified when
new videos go live every Tuesdays and Fridays. After spending 15 years in the corporate world,
I launched my own consulting business and grew it up to $200,000 revenue within the
first year and I want to help you do exactly the same thing. The first idea is helping tech startups with
their sales. They need help setting up their strategy when
it comes to sales, the processes as well. So whether they just struggle to find leads
or they struggle to transform those leads into prospects and then paying clients, they
need help. They don’t have a lot of money, they cannot
hire a VP sales just yet. They don’t have a big sales team, if any sales
reps at all. So having a consultant basically connect with
them and help them set everything up so that either the founder of the company now knows
how to basically generate sales for himself or having the consultant basically set up
everything so that they can make that first sales hire. This is an area where these companies have
a lot of appetite. These companies need help and having a consultant
come in makes a lot of sense for them. So this is actually a really good idea. If you have sales expertise, marketing expertise,
business development expertise, you can absolutely help these companies. Another highly profitable consulting business
idea is actually helping professionals get leads for their business. So I’m talking chiropractors, lawyers, financial
advisors, gym owners, dentists, all of these people that are great at what they do, but
they didn’t study marketing. And back in the days, 10, 15, 20 years ago,
they would basically turn to Yellow Pages directories, for example, to attract clients. But now that the world moved online, they
don’t have that digital marketing expertise and maybe you have it or maybe you’re willing
to basically take a few months and learn what you need to learn so that you can actually
connect these people with their market. Bring them some leads in the door, and often
enough, these companies, so for example, take a roofing company, right? So they build roofs, residential, commercial,
industrial, and these are like 30, 40, 50,000 plus contracts. So this is highly lucrative for a consultant. If the consultant can come in and say, hey,
you know what? I’m going to help you get three, four, five
more contracts every month. How much is that worth to you? Then of course the company is going to say,
yeah, I’ll pay you five to $10,000 every month for you to help me do that. So there’s a lot of money in that field. So if you have an interest, so maybe you’re
a CrossFit fanatic, you love CrossFit and you’ve been working in marketing. And you’re like, hey, I would love to help
CrossFit boxes basically get more membership, right? So this is definitely doable. It’s something that already exists. There’s a market for this. There’s a lot of money exchanging hands between
these [inaudible 00:03:07] for example, or these dentists or these roof companies or
these plumbers to people in marketing, people who are sending them clients. So that’s also a great thing to keep in mind. If you’re thinking of launching your consulting
business or if you already are a consultant full time, independent, I would love to know
like what are the ideas that you are exploring right now or what is it you’re doing exactly
right now as a consultant. So comment below, let me know and let’s get
this conversation started. Here’s a third idea. Picture this. Helping midsize companies that are rapidly
growing select, hire and train faster, better and faster, right? So these companies, if they hire the wrong
people or if it takes too long for them to train or if people that they’ve just hired
leave within the first few weeks because their processes are like all over the place, this
is hurting the top line, the bottom line of the business. And so there’s a lot of money to be made in
helping these companies having a much better process when it comes to finding, hiring and
training the new employees. Now you can help in all three of these things
or you can help with just one of these some things and that’s okay too. You will get new money. It’s going to be super easy for you to do
like 10, 15 or $20,000 a month if you can help these companies basically secure the
rapid growth, right? If you can make it less of a risk for these
companies to kind of like just hit, like go down a cliff when they’re growing by helping
them basically secure that part of the business, they’re going to be showering you with money. So if you have expertise in, I don’t know. If you were an hiring manager and you have
like this perspective from like the manager’s side. Or if you were in HR or if you were like even
in sales, like people in sales have so much to teach to basically people in HR when it
comes to finding the right people and connecting with enough people and growing like a pipeline
and sourcing basically future employees. So this is also a pretty solid idea if you
feel like you have what it takes. All right, the fourth idea, let’s go back
to our beloved tech companies, right? I come from tech and that’s why it’s easier
for me to come up with some examples here. So tech companies oftentimes like it’s all
about the product and when they released a product, they feel like they never go fast
enough and the product is never really good enough. So what if you are this person that basically
helps these companies release their products faster and better? So when I say better, it could be a better
user experience, user interface. So that the clients actually enjoy using the
product more and the product basically has a better market fit, right? So there’s a lot of risks when it comes to
these companies releasing these products where if they work really hard on that launch and
they launch a product. And then the product bombs and it doesn’t
get like the validation from the market that the company was expecting, this really sets
them back and basically puts the company in danger. So you can bet your ass that there are consultants
out there who are basically there to help mitigate that risk and also accelerate the
rate at which these products or these extra features or these updates are basically going
out. So for example, you could be a current dev. Like you could be like a team lead or you
could be like a director of engineering and you can be like, hey, I can absolutely help
companies. Like I have a process in place or I’m really
good at identifying the holes and I’m really good. I would see myself really kind of going in
a dev team and working with their head of technology and helping them basically improve
their processes so that they can mitigate that risk. And they can improve basically the quality
of whatever they put out there. So if you have this, this background, this
dev background, right, this way of doing things. If you have this expertise, this knowhow from
your current career or your past career, then this is absolutely something you should look
into as well. All right. The last highly profitable consulting business
idea is helping companies increase the effectiveness of their sales team. If you have sells expertise, you could absolutely
go in there. I don’t want to say go in there. It could be completely remotely, by the way,
right? I work remotely. Everyone in my consulting bootcamp builds,
they’re building their consulting business. It’s all done remotely. But nowadays, it’s absolutely possible and
doable to help companies improve the effectiveness of their sales from a distance, right? So maybe you were like this amazing sales
rep or maybe like an account exec. Or maybe you were a sales manager, sales director,
VP of sales, and you’re like, hey, yeah, I can absolutely help other companies improve
their sales processes. So whether you are a coach for the B players
or even the C players. In sales we always say there’s the A, the
B, the C players. So maybe you’re a coach with a B players or
maybe you’re someone who can actually train new sales managers, right, from a distance. So the company, they pay you, you are an experienced
sales manager. The director is kind of new and they need
someone to kind of come in and again, could be remotely. Come in and train their sales management. It could be you’re helping them basically
better utilize Salesforce or HubSpot or whatever CRM they’re using. Thing is, some companies are really relying
heavily on a Salesforce. It costs them millions of dollars and if you
can come in and basically improve their close rate or reduce the sales cycle and stuff like
that. Even if it’s marginal, this will translate
into a lot of money for them. Right? So this is basically a consulting business
that can very easily net you 100, 200, $500,000 a year. So if you have sales expertise, this is definitely
an area where you would like to research and have a look. But definitely I can tell you already there’s
a market for this and there’s a lot of money for that. If you’re serious about launching and growing
your consulting business, I’ve got two amazing gifts for you right now. The first one is a complete framework of how
I basically built my $200,000 consulting business for my first year. And it’s also the framework that I’m teaching
my clients inside the consulting bootcamp. So they paid thousands of dollars for this
and I’m giving it to you for free. So if you’re interested in reading, like just
basically opening my head and just seeing if everything that is in there and seeing
how I made this happen for myself step by step, more than welcome to get this. It’s a 25 page PDF document. You can get it below and there’s a link there. Also, I am running a Facebook community for
independent consultants. And what I do in there is a few things. So every Friday I go live and I basically
mentor people in the community for free. So people send me their questions throughout
the week and I take the questions and I just give them like absolute clarity. I tell them exactly what I think. So you can ask me questions about, hey, what
should I focus on? Or you can ask me questions about how can
I find my first clients? How can I handle a difficult objection on
a sales call with a potential client? Stuff like that. And I just do this completely for free. So if you’re interested in joining the community,
it’s called, the group is called Quest10K right? And you can get this below. You can just basically, again, click on the
link and it’s going to be amazing having you in. Finally, if you enjoyed this video, just know
that on my channel there’s a bunch of other videos which are all targeted at helping independent
consultants basically grow their business. So go in there, dive. Again, if you haven’t subscribed, you should
definitely do it because I’m always adding new stuff and you don’t want to miss out. And please reach out if you have any questions,
I’m there. Cheers to your success.

2 thoughts on “Consulting Business Ideas To Grow Your Income In 2020

  1. Hi Pat, I have started a consulting business where I get more contracts for Dentist & chiro's. But still not sailing with it.Thanks

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