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:
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:
What You Need to Know - The WHAT
Start with a Talent - Education, Skills, and Experience Audit.
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
Automate Non Personal Functions
We are your single, one stop source for business success, period, end of story.
Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.
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