The benefits of owning your own business are the opportunity to build your own brand, flexibility and higher wages. A career as an independent consultant allows one to become self-employed in many ways, and can offer a unique opportunity to become financially independent.
How to become an independent consultant?
Operating an consulting business successfully requires knowledge. Make sure you do your research on the industry that you want to work in, and then determine what niche you will work in. Lastly, you can show your clients what to expect by talking about milestones and transformations that you have completed.
Keep testimonials so that possible clients have a sense of what you can accomplish and offer. By doing so, you can emphasise your desired outcome.
It is good to remain active on social media and maintain your online presence on a regular basis. By being transparent, you let your audience know that you are a real person behind the business, which keeps them engaged and more likely to make a purchase
Have you ever reverse engineered someone else’s business?
Then use that information to make decisions for yourself? Be honest, because I’ve definitely done that before. This is exactly what I would like to talk to you about today.
Let’s just say that you’ve just started your online business, you are working with clients, one-to-one, like I was, you are doing consulting, you might be doing mentoring or coaching, or just providing services.
You come up against a challenge, or you’re not quite sure what the way forward is. So what do you do, you find someone that you really look up to, in the online space, let’s just call her Jane. Right?
You find Jane, and you are obsessed with her, you find her on YouTube, you find her on all of the platforms, you follow her on Instagram, you’ve listened to her podcast, you might be part of her Facebook group. You start obsessing over her business, and trying to reverse engineer it and trying to hack it. Right?
So you might be like, Okay, well, Jane has 10,000 subscribers on YouTube. And because I’ve gone on her Instagram, I can see that her program is priced at £500. So she should be making roughly, you know, 50k, this is just a guess 50k a year.
- What does that mean for me?
- Do I need to price my program at £500 ?
And I need to do this, this and this. And it all goes from there. Right? Please be honest, if you’ve done this, I’ve done it, it’s okay. And that’s what I want to talk about today.
This is not a good way to be making decisions on important things in your business, things like pricing, and strategy, right? The reason that this isn’t an effective way to make decisions is simply because you don’t have the full picture.
You’re making these really, really important decisions. When you don’t have the full picture, you don’t have all of the information required to make that decision, right. And really, when you’re stalking these people and trying to reverse engineer their business, you only have a small snippet of what’s actually going on. You’re only really scratching the surface of their business, right?
That coach that you might be stalking, or that consultant might not actually be making any money on the offer that you are seeing, and that people can publicly see, right, they may be using that offer as a way to cover their ad spend. So they’re not actually making any money, or they may be making a loss on it. And actually using that as a way to feed people into a higher ticket program.
Typically, those programs aren’t advertised, right? So you don’t see them, you just see the lower ticket offer. You think, okay, that’s what I need to do in my business, right? A lot of the time I see people pricing their products, far too low, because they’re doing this exact thing. They’ve seen someone else do it, and they’re pricing their own products in a way that’s not going to be profitable, and it’s not going to be sustainable.
Wait, what do you actually need to do?
As easy as it is to look at someone else’s business and reverse engineer it right? Super easy, can do it for free, can spend ages and ages and come up with some sort of hypothesis.
That is, it’s not a substitute for actual business strategy, or AI. So what should you do instead, if you haven’t already, I really urge you to learn the business basics, not just an online business, but really any business that you’re ever going to have.
It seems like pricing, right? Why you’re pricing your products or services, the way you are, what the rationale behind it is, and how that fits into future products or services that you may want to release.
Things like messaging, things like your content, your office suite, so how all of your services fit together. If you get these right from the very beginning, then you’re going to be creating a real profitable business that’s actually going to scale, right, you’re not going to be starting off with something that isn’t going to work at scale.
A lot of people think that they need to just get more and more sales. But if the basics aren’t right, then what you’ll find is that when you get more clients, you’re just going to come up against more problems that would have been solved if you had just, you know, done the fundamentals properly, instead of just stalking someone else.
Now, I’m not going to sit here and tell you that you need to hire me or anyone else in order to be successful, but what I am going to tell you is that as soon as I started investing in learning why I was doing certain things, and why certain things that I was seeing online, why the way they were, what the rationale behind them was. That’s when things started to really change, because my decision making was so much better and I became independent
I could actually make those decisions for myself, and for where I wanted to go, and for my business, right. So next time you create a new offer, next time you have to price it, or next time you are writing some social media copy, or doing the copywriting for your website, in order to attract new clients.
- Why am I doing this?
- Where have I got the strategy that I’m currently using?
- How educated am I in what I do?
- Do I need to get more support here?
- Do I actually understand why I’m doing this?
- Do I base my decisions on what others do?
I’m not saying there’s anything wrong with it when you’re starting out. But there comes a point where you actually need to know what you’re doing.
I hope this was useful in learning about how to become an independent consultant and why reverse engineering just doesn’t work. What someone else is doing might work in the short term, but in the long term, you’re really just setting yourself up to failure further down the line.
It might work for a while, but you’re not actually doing the things that are going to create sustainable growth in the future.
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