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Million Dollar Consulting, New and Updated Edition: The Professional's Guide to Growing a Practice, by Alan Weiss
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This updated edition aims to provide a comprehensive guide to building a consulting business that will bring in a million dollars a year. It describes how to raise capital, target new clients, hire staff and set up a fee structure. The book breaks down each step of developing a successful consulting business into concise, easily-understood steps, offers specific examples and procedures and features checklists, guidelines and a resource section at the end of the book.
- Sales Rank: #1020283 in Books
- Published on: 1997-11-01
- Original language: English
- Number of items: 1
- Dimensions: .83" h x 5.42" w x 11.08" l,
- Binding: Paperback
- 320 pages
From the Back Cover
Name Your Own Price In Today's Wide-Open Market! Are you still running your consulting business on a shoestring while giving your clients advice worth millions? It's time you got paid what you're really worth! This updated edition of the best-selling guide will show you how to market and develop your business into one that generates $1,000,000 or more annually. A classic that has helped thousands of consultants build their businesses and their incomes, it's how revised and updated to help you grab the amazing new opportunities in this era of corporate downsizing. From setting fees to hiring staff to winning over new clients and obtaining capital, Million dollar Consulting shows you how to develop a lucrative consulting business. You'll find practical, proven advice on how to: Target, land, and keep the kinds of powerful clients every consultant dreams of; Emply the most davantageious and lucrative bases for establishing fees (and the most persuasive arguments for telling a client you're raising them); Increase marketing and sales opportunities by integrating new technology into your business-including the savvy use of e-mail, computer-generated graphics, an effective web site on the Internet, and more; Establish your firm's image, intensify its profile, and make yourself a star through the use of promotion and publicity, networks and affiliations, and the speaking circuit.
Most helpful customer reviews
48 of 52 people found the following review helpful.
Found late in my career, but not to late!
By Chris P. Kunicki
I have been consuling for 10 years. About 4 years ago I stumbled across this book. I bought it principally because I was going on a trip and needed something to read, I had no expectations. I was surprised to find a wealth of advise that I really needed to bring my consulting to the next level. Issues such as: Setting value based fees, building relationships, dropping the lower end of the business to make room for bigger opportunities and importance of self promotion through publishing & speaking.
The other thing I enjoyed is that Alan presents consulting as an honorable trade that can really help effect change and growth for our customers. If your a consultant, you should read this book! At a minimum your guaranteed to find a few useful points.
61 of 69 people found the following review helpful.
For the Lone Wolf
By A Customer
I enjoyed this book. As other reviewers have pointed out, a lot of
the advice given is just good ol' common sense for the professional
service provider in general (I can easily see some of the tips given
here being used by lawyers, accountants, etc to sell their services to
business). Plus, the idea of moving from hour-based billing to
value-based billing is invaluable. As a sole practioner, you can only
bill so many hours a day... but if you can add value and charge for
the value added... "ah, there's the rub." Alan Weiss here
provides a clear sense of the mechanics and operation of your typical
small professional services firm, with a well-written emphasis on
customer retention and relationship marketing.
Weiss gives no advice on growing a
practice into an organization that will outlive its founders. There
is only advice on improving your personal bottom line. In fact, after
reading it, I realize Weiss's formula for making a million is simple:
generate business revenues in excess of a million and keep expenses as
low as possible so that you can pocket the rest as dividends and/or
salary. That works fine for the individual practioner S corp / sole
proprietor, but what if you are already in the consulting business and
you are looking for ways to grow, add new services, increase firm
reputation, or otherwise move away from the lone wolf image? Taking a
million in dividends out of your practice each year doesn't leave much
for growth or future investment. What Weiss doesn't tell you is that
consulting (as opposed to public speaking, a distinction Weiss
sometimes forgets) is subject to economies of scale. That is why
formerly one-person shops like McKinsey are now huge global firms. Is
it better to run your own shop for 20 years, withdrawing all excess
earnings as dividends to support your lavish lifestyle or is it better
to reinvest most of those earnings by adding new services, increasing
clients, hiring more top-notch staff so that by the time you are ready
to retire, your firm is worth $30 million based on expected future
cash flows? Weiss wrote this book for the former, and gives little
advice on how to achieve the latter.
33 of 36 people found the following review helpful.
Excellent. Relationship selling and value pricing.
By A Customer
I guess the book can be summarised as having one underlying strategy of becoming a million dollar consultant, with many tactics in order to get there. Relationship selling is one tactic that is explained in depth because it is so different to the way most people sell. Value pricing is the other main tactic in obtaining this status. This books touches on so many aspects of consulting it is difficult to summarise everything. If you want to know how to start a new consulting business, how to set up an office, what equipment you should buy, how to market yourself, which groups you should join, how to work with and recruit sub-contractors, how to allocated project revenue between sub-contractors, planning, down to some ethical decisions, the book covers them all. If you want to become a well known speaker, writer or well know industry expert, this book discusses the tactics to get there. The one thing this book does not do, is tell you it is easy. To achieve these goals, takes dedication and persistence even during the tough times. What do you do when you are down to your last few dollars? Sell the furniture? No, there are even tactics to deal with this situation. I would recommend this book to all consultants and sales people. The consultants will get the most out of the book, and the sales people will learn a lot about relationship selling that is sadly lacking in most of the sales people I know.
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