Monthly Archives: July 2011

Are you losing money while working your butt off? How to guard against this pitfall

Even though you may be working your tail off, you could still be losing money.  I’ve seen lots of consultants fall into this trap, and it can put a serious squeeze on your business and personal cash flow–and we all know that too little cash can cause a lot of stress.  To start and run… Continue Reading

How to lose potential clients and look incompetent: the #1 mistake when setting your rate

Do you want to look unprofessional and incompetent? I didn’t think so. But if you set your rate too low, that’s exactly what will happen. For example, plumbers in my area typically charge about $75 an hour.  Now, if I find one that charges $50 or maybe even $40 an hour, that price might look… Continue Reading

Ignore this at your own risk: How to find a profitable niche for your consulting business: Part 1

You’ve got what you think is a great idea for your consulting business, and you’re convinced it’ll make you millions–or at least enough to quit your day job. Let’s say your idea is to become the foremost consultant on, say, ferret foot care. You spend a ton of money and time on marketing materials, countless… Continue Reading

Do you need a business plan? (part 2)

I’ve already talked about why I think traditional business plans are a waste of time for most consulting businesses, but after talking with a friend who has a consulting business idea, I want to talk a little bit more about why you probably don’t need to put time into a long-winded business plan. My friend… Continue Reading

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