Million Dollar Consulting

I believe I first read Million Dollar Consulting by Alan Weiss in 2011. I thought it sucked, and I thought most of it didn’t apply to me. I thought it only applied to fancy consultants who worked exclusively for huge companies.

Over the course of the next five years I kept hearing about it, so I decided to give it another look. This time around it seemed like an entirely different book. I was clearly just not ready for its advice the first time I read it. This is a wonderful example of the fact that what you get out of a book depends on more than just what’s in the book. A book’s value equals the book’s information multiplied by who you are at the time. If you gain knowledge or have additional experiences between two readings of the same book, you might see the book in a totally different light. You might grow “hooks” that catch parts of the book you didn’t catch the first time around.

One of the things that stuck out most for me on this reading of Million Dollar Consulting was the importance of relationships as it pertains to getting clients. The author said people don’t go googling for consultants and I think for the most part he’s right. There’s too much trust necessary in hiring a consultant to just find one online and hire him. My understanding is that people like this are usually sought out via referrals. This got me thinking about how to develop good relationships with high-caliber people. One way that I’m doing this now is through my BNI group. I’ve gotten one client via BNI so far, a really good one. Another way I’ve found to form good relationships is by attending conferences.

Another takeaway from the book was the idea of getting strong “conceptual agreement” to a project before presenting the proposal. My understanding of Alan’s sales process is that by the time they get to the proposal/contract, it’s just a formality. They’ve already talked enough about the project by that time that the client is already totally onboard with the project.

I also gained a new term from reading this book that I don’t know how I lived without before, and I don’t know how I missed it the first time. The term is market gravity which in my understanding is how easy it is for you to attract clients. I used to think that the way to smooth out the boom-and-bust cycle of freelancing was to work for a number of clients at a time. I tried working that way for a while and it’s fucking horrible. What I believe now is that it’s best to have one client at a time and to cultivate the ability to quickly and easily spin up a new client engagement at the time your current engagement ends.

I would definitely recommend this book to any freelancer. If it doesn’t seem good the first time around, maybe give it some time and read it again.

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