SO HOW DO YOU PLAN TO MAKE MONEY? - WILLIAM EASTMAN

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Meeting ID
meet.google.com/vnf-pcrz-xpf
Phone Numbers
(‪US‬)‪+1 617-675-4444‬
PIN: ‪843 040 084 2581#‬
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Introduction
One theme consistent in Season 3 is the station's becoming your CGO - Chief Growth Officer for Hire, the underlying role of the Network. All of my shows: Growth Community, Building in Front of You, Your MLM Empire, Economics for Owners, the Self Managing Organization, and Creating a Consulting Business - everything centers on how to use the IBGR Network for business success. 

​Our relationship with the listening audience of entrepreneurs and owners is to: 

• Provide INSIGHTS that are useful;
• Provide TOOLS that work;
• Provide RESOURCES that saves time and money;
• Make a FINANCIAL impact on the business. 

That is what is meant by Looking at IBGR as your CGO - your virtual Chief Growth Officer.

Last week we tackled which of the Practice Domains fit your talent. In the consulting business it starts and ends with what you can deliver with the question of who is your perfect customer in the middle. This week we break down how to define yourself.

LISTEN > ENGAGE > APPLY

Objectives - The WHY
The purpose of today's show is share my thought process for both building the radio station and how would I build a consulting company today. The reason - that is how I designed IBGR starting January of 2020.

The key issue is small business consulting is not compatible with the time-based, subject matter expert model. The only thing that will compensate you fairly for talent and materials is an asset based model with a heavy dose of automation.

Key Issues - Owner Perspective:

1. Where do I start?
2. How do I structure the offer?

What You Need to Know - The WHAT​
Start with a Talent - Education, Skills, and Experience Audit.

• ​ EPISODE F.009 CONSULTING COMPETENCIES​

​Market Research: based on your self-audit, starting with all of the potential clients (people or industries), review the options and narrow it down to markets you can penetrate.  Your goal - growth in the market and the ability to reach #1 or #2 in your niche. What information do you need to make the decision?

Market Scope: identify the different populations in the larger group you can segment out that match your offer, fit your processes, have the financial ability to afford your offer, and are making a buying decision now or in the near future.

Value Ladder: structuring your offer (how you bundle products and services) to create at least 3 levels - Basic, Core, and Advanced. It gives you the ability to reduce their risk by starting with something small, upsell them to your Core offer, and anchor pricing with the Advanced Level.

Don't Sell Individual Services - Build Bundles
Accept the fact that how much you used to charge for consulting services (selling time) is passed. That doesn't mean you cannot make good money, you just need to be smarter about how you mix products and services with pricing. Use our model of a 3 or 4 Levels in your Value Ladder. My recommendation is to make your Level 1 or Basic Offer all or predominately product, and the Level 3 or Advanced Offer predominately Services. That leaves the center - Level 2 or the Core Offer as an intelligent mix of both.

What You Need to Do​​ - The HOW
Bundle Based on Your Value Ladder

1. Lets pick up the conversation on the topic of Bundling. When it comes to your offer it is critical to spend time working this out. See our show on building an asset based consulting company.

Automate Non Personal Functions

1. Start with Value Mapping your consulting process and how much of it can you automate? I will not presuppose your consulting methodology so I'll use ours as an example. We have a 3 Phase Process with a series of Steps in each:
   1. FOCUS: Assessments, Surveys, and Interviews to determine the root cause of their reason for hiring a consultant and helping them prioritize solutions to mitigate or eliminate the problem;
   2. IMPROVE: Training, Coaching, and Consulting to close the Gap between today and where they need to be, and;
   3. TRACK: Measuring progress for course corrections to achieve the desired result.

We are your single, one stop source for business success, period, end of story.

1. ​Listen to the Economics for Owners Series 
2. JOIN the Community of Commerce - A Network of Entrepreneurs for Entrepreneurs
3. Show Up Next week

Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.

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