4 ms·
All in just one year? Bloody hell. Every single one of those "went well" bullet points is a major achievement, especially starting a consulting business and alr
by BjoernKW 8y ago
All in just one year? Bloody hell. Every single one of those "went well" bullet points is a major achievement, especially starting a consulting business and already making $300k in revenue.
I wouldn't give up on the consulting part of your business so quickly. The business model is easy to understand and business is more consistent and reliable than a SaaS business that still has to get traction.
Unless you manage to charge according to value rather than time, a consulting business model will always be constrained by the time you're able put in. Still, at that revenue, you could do a third of your current workload and still be well-off and have time on your hands to pursue other goals.
Then there's always increasing your rates ( https://training.kalzumeus.com/newsletters/archive/consulting_1 https://training.kalzumeus.com/newsletters/archive/consultin... ). I assume that at that revenue low rates weren't your problem but if you managed to work at full capacity at your last rates chances are that at least some of your clients would've paid higher rates, which would equal the same revenue but less time you have to put into that part of your business.
Value-based pricing is another - in my opinion the preferable - option for growing a consulting business but it's more difficult to achieve. There are resources such as Jonathan Stark's courses that could help you in that regard: https://jonathanstark.com/vpb https://jonathanstark.com/vpb that