Congratulations! You’ve decided you’re done with the 9-to-5 grind, and you’re ready to strike out on your own. Maybe you’ve been a freelancer for years, or maybe this is your first time trying it out.
No matter which camp you’re in, though, it’s no secret that freelancing can be difficult at times. It can be hard to find clients in a crowded market, set your rates appropriately, or even figure out what niche you’d like to carve out (or if there are any niches left).
So today I’m going to share some of the secrets that have allowed me to make six figures as an independent consultant.
These secrets may not apply 100% directly to your industry or desired path as a freelancer. However, they will help point you in the right direction so that when the opportunity does knock, you’ll be ready for it and know how to get the most value from it when it does.
| Takeaways |
|---|
| Focus on developing valuable expertise and specialized skills that align with high-demand industries. |
| Continuously expand your professional network and leverage platforms like LinkedIn to connect with potential clients and opportunities. |
| Position yourself as a problem solver and highlight the specific results and value you can deliver to clients. |
| Price your services strategically, considering your experience, expertise, market demand, and industry standards. |
| Invest in continuous learning and stay updated with industry trends to maintain your competitive edge. |
| Provide exceptional service and deliver results that exceed client expectations to build a strong reputation and generate referrals. |
| Consider scaling your consulting business by building a team, streamlining processes, and exploring additional revenue streams. |
| Prioritize work-life balance and self-care to avoid burnout and maintain long-term success as an independent consultant. |
1. Set Your Goals – Why Are You Starting A Freelance Business?
Before you get started, there are a few things to consider. What kind of life do you want to live? What is your ideal work-life balance? How much money do you want to make each month? How many hours per week do you want to work, and how flexible are those hours going to be?
You can’t decide what type of project or client is right for your business until all of these questions have been answered. If you’re only focused on making as much money as possible in the shortest amount of time, don’t expect it will come easily!
As an independent consultant, you have the opportunity to experience the best of both worlds – the stability of a full-time job and the flexibility of freelancing. Explore our article on 6 Reasons to Be a Freelancer in Addition to Having a Full-Time Job to discover the advantages of this unique career path.
2. Find Your Niche – What Do You Want To Be Known For (And Why)?
Once you’ve identified your area of expertise, it’s time for the next step: Find your niche. What do you want to be known for (and why)? What are your strengths and weaknesses? What are your goals and values? What are your passions and interests?
You’ll want to think about these questions before deciding on a specific niche. Here are some example answers from different people who chose different niches:
My strength is writing. I want to be an editor because I love editing other people’s writing, but also because it requires me to write every day, which helps my writing grow better than if I didn’t have something external pushing me into practice every day.
My weakness is math. I don’t like math at all–it makes me feel stupid–so doing anything related to accounting or finance isn’t something that excites me at all. However, I do love managing money and investing!
So instead of focusing on accounting as a whole, I decided to specialize more narrowly in investment management/wealth management areas where there aren’t as many people competing with each other yet.”
3. Create A Portfolio – How Will You Demonstrate Your Expertise To Clients?
In any industry, you need to know your stuff. To show this, create a portfolio to showcase your best work and highlight the results you’ve achieved for clients. For example, if you are an SEO expert (search engine optimization), have a page on your website dedicated to showing off the websites that have been improved through SEO techniques.
If you don’t have time or resources for this, consider paying for an SSL certificate so that potential clients can see what projects you have worked on.
If there are any certifications or licenses relevant to your field of expertise, make sure they are prominently displayed as well (and be sure they are current).
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4. Build Your Network – Who Will Hire You, And How Will You Reach Them?
Now that you’ve got your six-figure business plan, it’s time to build up your network. First, consider the people around you who will have the ability to help you make this goal a reality. Start by asking yourself:
- Who are my industry contacts?
- How can I reach them?
- Will they hire me?
If there are no other consultants in your area, then it may be tough for someone outside of Silicon Valley or New York City to hire you but that doesn’t mean there aren’t other ways for them to pay their bills and make money!
You may want to start by working with companies on their marketing strategies rather than doing the work themselves (it’s less overhead).
Think about how many businesses out there could use an experienced web strategist on staff but don’t have the budget or knowledge necessary for one yet; these businesses might be interested in hiring someone like yourself who has both!
5. Get Social – How Will You Connect With Potential Clients Online?
Social media is a great way to connect with potential clients. You can share your expertise with them, answer their questions, and demonstrate your expertise.
To use social media for business:
Share articles that relate to your industry or niche. It’s important to keep in mind who you are targeting when tailoring content for specific platforms. For example, LinkedIn users want longer-form content than Instagram users do.
Respond to comments from people who are interested in what you have to say or may need help from a consultant like yourself!
This will demonstrate that you are approachable and knowledgeable about the industry/niche being discussed by posting on the platform where it was originally posted (e.g., if someone posts “Does anyone know how much they should charge per hour?” on Facebook’s Workplace group then respond there so others can see).
6. Create A Customer Profile – Who Is Your Ideal Client?
To be successful as an independent consultant, you must first identify your target audience. Who are these people and what are their problems, needs, and purchasing habits? You may have identified them during the discovery phase of your project with the client.
You can use that same information to create a customer profile by answering these questions:
- What is their age range?
- Where do they live?
- What is their income level?
- How many people in their household will be using this product or service?
- What issues does this customer face that could be solved with my product/service?
Once you know who your customers are, it’s time for some research!
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7. Start Pitching – How Will Potential Clients Find You?
Now that you’ve got your website, it’s time to start pitching. To begin with, we recommend looking for opportunities to speak at conferences and events that are relevant to the type of work you do.
You’ll meet people there who are already interested in hiring an independent consultant like yourself – and if they’re impressed by your talk or presentation, they’ll be more likely to hire you later on.
Also, keep an eye out for other ways to get the word out about your services like writing guest blog posts or contributing articles on relevant topics (again, try not to sound too salesy here). And don’t forget about social media!
Using Twitter and LinkedIn especially these platforms allow for quick interactions between professionals in all industries (not just IT), so it’s easy for them to find each other without much effort required from either party.
Finally: Find a mentor who can help guide you through this process now that we’ve covered everything else! They might know someone who needs help with their marketing efforts right now; if so then they might refer those clients over when they learn more about what kind of work comes along with being an independent consultant like yourself!
8. Price Your Services – What Is The Market Like For What You’re Offering?
Price your services based on the market. Before you start pricing your services, take a look at what other people are charging for similar work. If you’re an expert in your field, ask yourself: “What would someone else charge for this?
Can I do it better than them?” If everyone is charging $100 and you have been doing this for 20 years, it’s probably time to raise that fee!
Price your services based on experience and expertise. Just like many other industries, there’s always room for growth and improvement; however, it can be extremely difficult (and sometimes impossible) to get more business without offering additional value to prospective customers.
For example, A mechanic may offer discounted oil changes if they can fix any problems with their customers’ cars while they’re under the hood – thus saving both parties time and money during the repair process!
Price your services according to the value provided by clients/vendors/etc… The more useful information they receive from us during our interactions with them over time (whether via written materials like blog posts or video tutorials), etc . . .
9. Ask For Referrals – Your Current Customers Can Be Some Of Your Most Valuable Assets (And They May Even Pay You)
Ask for referrals – Your current customers can be some of your most valuable assets (and they may even pay you).
Asking for referrals is a way to market yourself, which means it’s a great way to expand your business. When a customer refers someone to your service, they’re essentially endorsing you.
They’re saying that they trust what you do and how you do it, so I’m going to send this person over here because I think she’ll benefit from your offerings just as much as I have.
It’s important to remember that this doesn’t always go both ways some people are hesitant about asking for referrals because of the potential awkwardness or pressure involved in taking advantage of the relationship between two parties.
A good rule of thumb is only to ask for recommendations when it feels natural; if someone offers one on their own accord, then feel free to accept!
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10. Polish Your Sales Techniques – Will Prospective Clients Come To You, Or Will You Have To Convince Them As Well?
You’ll have to get clients on your own. Unless you’re already a well-known expert in your field, you’ll need to do some marketing.
This is where sales come in. If you don’t know what that means, don’t worry – it’s not as scary as it sounds! Sales are simply persuading people to buy something from you or invest money with your company.
- Use persuasive techniques when asking clients for business:
- Make eye contact and smile when talking with prospects on the phone or in person.
- Try saying “yes” instead of “no” whenever possible; this will help build rapport and show them how much they can trust you. For example: “Yes, I can make two calls today instead of just one if that works better for us” or “Yes, doing things this way will save both of us time down the line.”
11. Become A Public Speaker
You can use public speaking as a way to establish yourself as an expert in your field. If you want to make money as an independent consultant, then get out there and speak at conferences and industry events.
One of the best ways to establish yourself as an expert is by speaking at conferences and industry events. These are great places for you to meet potential clients who might be interested in hiring you for consulting work. If a conference organizer doesn’t have enough speakers lined up for their event yet, they would likely love for you to fill in!
For other people to think of me as an authority on my topic, I need first-hand experience with it a lot of it. Without this kind of experience under my belt, I wouldn’t feel comfortable sharing my ideas with others because there’s no basis behind them (yet).
The more experience I have working with certain types of problems or solutions means more confidence when presenting those findings publicly later on down the road.”
12. Establish Yourself As An Expert In Print
You can establish yourself as an expert by publishing a book. If you have no experience in writing, consider getting a ghostwriter. A ghostwriter is someone who writes for you and gets paid for it.
In addition to publishing books, you can also write for magazines and newspapers. Many magazines would love to have articles written by experts in their field. You can also make money writing blog posts; if there’s a topic that interests you, then why not share your knowledge with others?
You could even write e-zines or trade journals if those fit into your area of expertise. There are many different options out there!
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Conclusion
There are many reasons why you might want to become an independent consultant, and we know that making the transition can be daunting. But, by following the advice in this guide and taking advantage of our free resources, we hope you’ll feel confident about your next steps towards this exciting new career path.
There are many ways to earn six figures as an independent consultant we want to help you find yours!
Further Reading
Here are some additional resources to explore for further reading on earning a six-figure income as a consultant:
Here’s What You Need to Know to Earn Six Figures as a Consultant: Discover valuable insights and practical tips to guide you on your journey toward earning a six-figure income as a consultant.
Six-Figure Income: Understanding the Pay and Salary: Learn about the concept of a six-figure income, its significance, and the factors that contribute to achieving such earning potential.
How I Built a Six-Figure Consulting Business Through LinkedIn: Gain inspiration and insights from a successful consultant’s journey to building a six-figure consulting business using LinkedIn as a key platform.
Frequently Asked Questions
How Much Money Will I Make?
It depends on your business model. If you’re doing this as a side hustle, it’s possible to make $50k-100k per year. You can also earn six figures as an independent consultant if you’re willing to put in the work and get serious about scaling up your business.
What Does It Mean To Be A Consultant?
A consultant is someone who provides advice and guidance to organizations on how to improve the way they do business. Consultants are typically paid based on the number of hours they work, rather than by the project or its success.
This means that consultants have the flexibility to take on projects that interest them, as long as they can find clients willing to pay for their time.
How Do I Become A Consultant?
It’s not too hard! You’ll need at least two years of experience in your field, along with some additional training. You may also need certification or licensure depending on your industry.
Consultants typically work on a project-by-project basis, so you’ll need to find clients who need help with specific projects before you can start earning money as a consultant.
What Is The Difference Between A Consultant And A Freelancer?
Consultants and freelancers are both independent contractors, but consultants are often more specialized in their work, while freelancers can do a wider variety of tasks. Consultants tend to have more experience than freelancers.
Consultants are often hired by companies to provide specialized knowledge or expertise in subjects like accounting or marketing, while freelancers can get more varied assignments from companies that need help with content creation, design, or editing.
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.
