MARKETING
One of the six keys to success as a solopreneur is to be known for something and be memorable. When you are perceived as an expert, you’ll get more referrals and win more work. Narrowing your niche is an important step in the right direction, but you’ll also want to develop a tagline as part of your branding.
A marketing tagline is short phrase that helps people remember you in a certain way. Just like the phrase “Just Do It” makes you think of Nike, your tagline should make people think of you when they hear it. Ideally, it should say what you do and the results you achieve.
Everyone knows that consulting services can be hard to sell because it’s often perceived as expensive and too theoretical. To combat this bias, demystify your process. Using work samples and deliverables to show prospects how you do what you do will go a long way toward eliminating their skepticism.
Of course you’ve heard of ChatGPT but are you using it to work smarter and more efficiently yet? If not, you should be! Recently the Professional Independent Consultants of America (PICA) hosted a members-only roundtable discussion to help people jumpstart their use of this powerful tool. Special thanks to Alexis Hultine of Digital by Design, and Dave Seaton of SeatonCX for leading the session and sharing their insights. This article was written by ChatGPT using the transcript of the roundtable.
Too many solopreneurs undercharge for their expertise. They don’t know to add a hefty margin to cover things like self-employment tax, business expenses, health insurance, and nonbillable time spent on business administration. Or they haven’t raised their rates consistently over time, or they haven’t switched to a fixed fee. This article explains how to determine your “base rate”, and the external factors that will impact your pricing. …
Last month, we took our first look at insights from Stacey Brown Randall’s webinar, “How to Generate Referrals Without Asking.” We discovered her penetrating critiques of referral-generating “best practices,” and we learned about the science of referrals. Ultimately, we discovered that the common wisdom isn’t so wise, and that the best referral-generating strategies are the ones that empower referrers to serve their own social networks, boost their own senses of self, and close the loop on generous reciprocation. This month, we’re pivoting out of philosophy and into practice.
A few months ago the PICA community gathered for a webinar with Stacey Brown Randall, a leading light in business referrals strategy. She spoke about one of the biggest problems in solopreneurship: the feast-famine cycle.
How do we put a stop to that cycle? How do we bring more clients into the fold? How do we systematize the business development process? And how do we do it all without spending money and effort on digital advertising and direct marketing?
You have less than a second to make a good impression! If you want new clients as a solopreneur, you must make a good first impression. Clients hire experts who are accomplished and trustworthy, so obviously you need to convey those qualities immediately, but not just when you meet someone. You need to project confidence and professionalism well before your first conversation, like on your LinkedIn profile. Specifically, your headshot. Here are four tips to make sure you’re not inadvertently turning prospects away.
After decades of working with some of the worlds’ best consultants, coaches, and solopreneurs, I’ve assembled a list of qualities that contribute to their success. You don’t need to check all these boxes, but if any strike a chord with you, weave them into your marketing, such as your website, LinkedIn profile, presentations, and proposals.
As a solopreneur, good marketing is critical. A well-polished image can attract clients by conveying competence and professionalism. It can differentiate you from competitors, and it demonstrates that you take your business seriously. A professional image enables prospective clients to see you as credible from the very first impression. You know this, but you may still have the lame blue-gray square on our personal LinkedIn profile…
As a solopreneur responsible for finding your own work, you may be tempted to adopt the ABC sales mantra, “Always Be Closing,” as described so powerfully by Alec Baldwin in the movie Glengarry Glen Ross. But when you’re self-employed, ABC might be the kiss of death to your business because nobody likes being sold. As coaches, independent consultants, and financial planners, we’re problem-solvers, not salespeople. We want to be remembered and trusted, so put the client first.
Conveying a professional image is critical to maximizing pay and profit when you’re self-employed. One of the easiest and most affordable ways to be perceived as a professional is to use a business email address.
If you’re using an email that ends with @gmail, @hotmail, or @outlook, or a “fake business email” like JohnDoeConsulting@gmail.com, you’re shooting yourself in the foot. Instead, present yourself as a professional by using an email with the name of your business as the domain. For example, John@PremierConsulting.com or…
If you were a hotel chain, would you be a Motel 6, Courtyard by Marriott, or a Ritz-Carlton?
If you refer to yourself as a freelancer or consultant, what does that imply?
The terms you use to describe yourself will impact how potential clients perceive you, how they pay you, and even how much they're willing to pay.
As a self-employed professional do you need a website? Is it worth the time and money if you get most of your business from referrals or by subcontracting?
The short answer is, yes. Here’s why:
As a an independent consultant you probably set your own rates. The more professional you are, the more likely you’ll be able to charge more for your expertise and services. Having a logo for your business will help you look like “the real deal” so why not get one? It’s not a huge financial investment. In some cases you can even get one for free.
Hiring a consultant can be a difficult decision for a client, especially when they’re going to be spending tens of thousands of dollars. They need to be sure that the person they’re hiring is competent, credible, trustworthy, and most importantly, effective.
Use short stories or mini case studies to build your credibility before you’ve even had a conversation with a prospective client.
As independent consultants running our own businesses, good marketing is critical. No one is going to hire an unpolished freelancer to help solve their business problem, especially if they’re going to spend tens of thousands of dollars. Clearly, a professional image is vital. A prospective client must see you as credible from the very first impression. We know this, yet most of us are cursed with the dreaded grey square on our LinkedIn profiles – the one that appears next to your current job listing.
Most self-employed consultants I know have deep expertise in a certain function or industry, and nearly everyone would like to earn some extra money. If this describes you, check out what I recently discovered.
As an independent consultant, it’s vital that you convey professionalism at every step if you want to get hired at a great rate. Details matter, particularly when you’re making an initial impression. That’s why having a professional email address is a must, as is an eye-catching, effective email signature.
Negotiating is typically hard for everyone, but it’s especially tough for consultants. It’s our nature to make the client happy, so negotiating for a higher rate feels awkward. But when you’re self-employed, even the smallest increase in your rate can translate to big bucks, particularly if the rate is for a long project, or if you’re working with an ongoing client.
I recently discovered a series of practical tips on Instagram, of all places, by following Johanna Voss, owner of a boutique talent agency for female influencers and keynote speakers. With her permission, here are her three essential negotiation tips that every consultant should know.
Generally, the more experience you have as an independent consultant, the more likely you should move from billing by the hour to a fixed fee. At some point you’ll master your specialty and work much more efficiently than others. This means to earn what your services are truly worth, you’ll have to keep raising your hourly rates. But at some point, you’ll reach an invisible rate ceiling when clients think you’re too expensive, even if it takes you half the time to do the work.
When you reach this point, it’s time to start thinking about billing for your services by the project instead of by the hour or day. The idea is to price the project as if you’re going to do it from scratch, even though you know you’re going to adapt plans and materials from prior projects. By doing so, you’ll boost your income per hour.
Here’s an example…
As a self-employed consultant do you really need a website?
I’m asked this a lot, particularly if a consultant gets most business from referrals or they contract through agencies or boutique firms. Besides, it’s highly unlikely that a prospective client is going to stumble upon your website and decide to hire you. Surely creating a website is a waste of time and money, right?
I used to say that if you had a really strong LinkedIn profile and you keep your network warm, you probably didn’t need a website. Indeed, I know dozens of independent consultants making six-figure incomes without one.
Now, however, my answer is, yes, absolutely, you need to have a business website. Here’s why:
Last August I wrote a blog post about how labels matter, specifically that you should make more money by calling yourself a consultant instead of a contractor. But it’s not just about labels and language. It’s not enough to simply replace contractor with consultant on your résumé and LinkedIn profile.
I’ve been studying the LinkedIn profiles of various contractors and consultants I know and reflecting on how they usually get their work. What differentiates the well-paid rock stars of consulting from the plug-n-play contractors? Several variables affect the person’s brand. They include prior work experience (internal with a company vs an external consultant with a firm), their consulting niche, and how they market themselves, but the real difference is how they find and frame their work.
Contractors find work through agencies or staffing firms while consultants are more likely to find work on their own, usually as a result of their professional network.
Dear Liz,
I have a quick question. I know a consultant who is going to do some work designing a company’s program for high-potential employees. The consultant has talent but not much experience. What hourly rate would you consider low, fair, too high? Can you ballpark this for me?
- Louis
Although the question is brief, a helpful answer is not. Pricing consulting services is notoriously difficult, particularly for self-employed consultants. You need to consider the real and perceived value of your services, expertise, and experience, as well as geography and market conditions. Several factors need to be considered:
It takes practice to quote your consulting billing rate with confidence. The tactics in this article will help if you bill by the hour or by the day. There are other ways to bill for your talent and expertise but those will be covered in another article.
Benchmark so you know your rate is reasonable. There are lots of ways to do this. Talk with other consultants, do a web search on typical management consulting rates in your city or state, and/or try converting your employee salary to an hourly rate. Warning: this last calculation will be quite low since it doesn’t include profit, expenses, or the time it takes to run your business; try increasing this number by 40- 50%.
It also helps to have an idea of what consulting firms charge for consultants of similar background and expertise. Although rate information is a closely guarded secret, based on my 20 years in the industry here are very rough ballpark numbers for “management consulting” (not IT consulting, project management, training development, etc.).
With the rise of the free agent nation and gig economy, there’s rampant confusion around the terms contractor, consultant, and independent contractor. If you are a self-employed consultant, you don’t want to be a contractor but do want to be an independent contractor. This article explains why.
Most consultants I know struggle with business development, and it’s a top concern among those thinking about going independent. “I don’t know how to build a pipeline of leads” or “I’m not good at sales” are common refrains.
Most of us never had sales training so this concern is understandable, but reframing how we think about business development can turn concern into action. Read any definition of business development and you won’t find the word sales.
A shift in perspective can make a significant difference in how you approach something. For example, before you go parasailing the first time you might think, “I’m excited to try this!” or “Oh my god, I’m going to die!” You’ll have a lot more fun if you approach it with an “I’m excited” attitude instead of “I’m scared.”
Let’s face it, consulting often gets a bad rap. It’s perceived as nebulous, too theoretical, too touchy-feely. Plus, it's expensive. To combat this bias, use work samples and deliverables to show prospective clients how you do what you do. Demystify your process. This goes a long way toward removing uncertainty and skepticism.
For 10 years as an independent change strategy consultant, I used this tactic to win several projects. Many clients don’t understand the difference between change management work and the more complex change strategy work. Most know that communications and training are involved but don’t understand how to achieve the buy-in of cross-functional stakeholders in a way tailored to their situation.
Consulting is a people business. Clients hire people who are smart, proficient, affable, and trustworthy. You probably perceive yourself this way, but do others? When people see your LinkedIn photo, what do they think of you?
Research from Cornell University shows that a first impression from an online photo usually persists. We make judgments when we see a photo, usually unconsciously, and these perceptions stay with us even after we’ve met the person. This lasting impact is formed in about a tenth of a second. Obviously having a really good, professional photo matters, but other things affect someone’s impression. It’s the background, the hair, the eyes, the smile, the posture—literally dozens of details. So how can you be sure that the photo you are using online conveys the qualities you want?
Thanks to Photofeeler, you no longer have to guess or rely on friends and family for feedback, who by the way will be biased because they know and presumably like you. Use the Photofeeler website to upload your photo(s) and get anonymous feedback on how competent, likable, and influential you appear. It’s easy, affordable, fun, and quite interesting.
This is the third and final part in a series of articles. You can download the entire series as a reference guide here.
Most independent consultants have no budget for marketing or advertising, yet they all wish they had a bigger client list. Having a well-crafted LinkedIn profile is free and one of the first things potential clients will look at when they hear about you. Make the most of it!
The first article in this series about how to optimize LinkedIn profiles explains how to create an excellent first impression with a photo, background image, and a succinct “tag line” to summarize your brand and expertise. The second article provides tips for how to market yourself as an independent consultant using the Summary and Background sections. This article summarizes the importance of LinkedIn’s Skills and Endorsements, and Recommendations sections, which are misunderstood and underutilized. It also includes practical tips for how to beef up these sections, as well as the Accomplishments section.
Most solopreneurs launch their business with a simple LinkedIn post—but they're missing a golden opportunity. Your launch announcement isn't just another social media post; it's your debut on the professional stage. When done strategically, it can create momentum for your new venture and lay the groundwork for future success.