How to Build a Sustainable Independent Consulting Practice

Ways to sustain your practice

Generosity is a core flywheel

What are status indicators for how healthy your business is?

Fundamental equation of:

Revenue = (deals) * (value)

I’m leaving this intentionally abstract

Deals obviously is a mixture of leads, conversion rate,

Value is a mixture of how much you’re closing for, LTV, retainer, whether you need to pull in collaborators (i.e. margin) etc etc.

Fundamentally the big two levers that you can pull are:

  1. Have more interesting conversations
  2. Work with clients on bigger/longer projects to get more value

I think the right balance is to track conversations.

Image of my spiderweb chart in simplenote?

Types of Sustainable Consulting

Markdown table

Retained consulting Lead magnet - evergreen traffic Ability to produce consistently (writing, mark pollard instagram, podcast, youtube) Power friends (VC network, ex-CEOs) Digital revenue Run community (slack, conference, meetup series)

Open Questions

Could a CRM help? Perhaps