Discovering Fresh Gold: What would you do with an extra $250k and a day a week?
Are you an independent consultant/coach/expert — with a good track record and deep expertise in your field?
If so, I have a question for you:
What specifically would you do with an extra $250,000 after-tax personal income and another day off per week?
Seriously. What would you do with this newly created wealth?
I spent yesterday morning working with an independent business owner – a consultant who has a couple of decades of experience in IT project management. Solid. He goes into messy situations and gets things sorted out. If you are a CIO with a portfolio of time-critical projects, he will literally save your bacon.
His challenge is that he’s great at what he does and made very good money last year — but worked his tail off. Now that his most recent project ended, his pipeline is a little dry. And he’s not exactly eager to jump back on the same hampster wheel for another go’round.
It is clearly time to change the game. So we did.
We crafted a very specific, actionable plan and pricing strategy for him to generate an additional $250k in after-tax income while working less — way less. And the work he will be doing is completely in his zone of growth and genius — eliminating a bunch of work that he used to love but has now outgrown.
The plan is not complicated.
It does not have a gazillion moving parts.
It does not require a large database or marketing budget.
It does not require that he get tons of new leads or new clients.
It will radically simplify his life and business.
It does, however, require that he upgrade his skills, particularly in the area of consultative sales. And he will need to shift his mindset from that of a professional to that of a true entrepreneur. So I will teach and coach him in these areas. He’ll have work to do, but it is very doable, especially with the right support.
In fact, it is very similar to my own business model and path. Working with just a few clients at a very strategic level, commanding premium fees, and having plenty of time and space in my life for my family and things I love to do, like teaching Gracie Jiu-Jitsu.
The man I worked with yesterday plans to spend his new-found time working with his kids to start a business. He wants to use the money to invest for retirement and make a few modest improvements to his lifestyle. Nothing fancy or extravagant, just a few well-deserved material improvements. But if you want fancy, nothing wrong with that either.
I will say that when he left my house, his mind was blown a little. In just a few hours, we found substantial nuggets of fresh gold in his current business — just waiting to be extracted and polished. Significant opportunities, waiting to be seized.
Why couldn’t he see them? Because it is very hard to see what your own greatest strengths and opportunities are and give language to it. You simply are inside your own box. (That’s why I invest in my own mentors.)
When he came to my house, he already had a workable plan — yet it was created out of his existing paradigm. Once we expanded his paradigm, lots of new things become possible.
Now you may be wondering, could this work for me? And could I help you?
Maybe.
You have to have the raw material — in other words, some real skills, expertise, and professional/life experience.
If you are making around six figures per year, most likely you have enough marketable knowledge in your field that we could harness it, focus it, and leverage it into a much better business and lifestyle for you.
At the six-figure mark, you’ve accumulated substantial expertise and clients have demonstrated that they will pay for it. Yet this business also probably reflects a mix — some things you do exceptionally well, some things that you took on as you were growing — and now you feel stuck with them. The idea of continuing to do those things is downright depressing.
Here’s the key: the path to growth is by subtracting. Just like refining gold, we are going to strip away all the other stuff that is not your highest and best use. We’d need to drill deeply into the specifics of what you do to find the gold, and then craft a specific plan to leverage it.
You also have to work Business-to-Business. Your ideal clients must be businesses — or individuals who own, lead or manage businesses of any size. Not that I can’t help you if you aren’t working B2B, but my sweet spot is in B2B and it is the highest and best use of my talents and energy. Plus, the value-based pricing and consultative sales approaches I teach are most easily applied in a B2B setting where the ROI is easily quantifiable.
If you meet the criteria above and have the desire to add at least $100k to over $250k in net income to your life, increasing the value you bring to your clients, and simplifying your life, let’s talk.
Ron,
I am not 100% certain if I am in your wheelhouse or not. I am a business development consultant and a coach to CEO’s and entrepreneurs. I want to expand the number of people I am helping and finding direction a challenge. I look at your direction and it seems to align with mine. What do I do next?
Steven Clauson
916-230-0176