“I need more staff to look more professional and to win bigger projects.” I hear that all the time, and it’s simply an excuse.
If you want to build a consulting firm with several consultants that all produce value for your clients and company that’s great. I’ve worked and coached many consulting firm owners and showed them how to attract more clients and increase their revenues.
Use strategic fees and pricing to increase your average project size and compensation.
In this case, I’m referring to independent consultants or firms with less than 3 people who believe that adding more staff and consultants to their team will magically allow them to land bigger projects.
If that’s what you believe, get ready for a big slap of reality.
Adding more staff to your team is a fixed cost. It costs you money each and every month to keep those staff regardless of whether you’re bringing more money in. That’s not the road to rapid growth.
Other dangers exist as well. More staff means more bureaucracy and more distractions.
Instead, here are 5 ways to land bigger projects, clients and increase revenues:
- Hire contractors on an as needed basis for each project.
- Position your company as having complete resources for any project you want to go after – because you can always find other consultants, experts and contractors to bring on for a new project.
- Spend more time establishing your authority and expert status in the marketplace.
- Use strategic fees and pricing to increase your average project size and compensation.
- Define what work is high-value and what is low-value. Focus on the high value and get someone else to do the low-value work, or cut it out of your business altogether.
These approaches allow you to stay lean and aggressively grow your revenues and business.
They go straight to the core of the result you’re after, instead of decorating the situation in the hopes that you’ll ‘look better’ to your ideal clients.
Ready for more clients and growth?
If you’re new to consulting, go here.
If you’re a consulting firm owner, go here.