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"If you're going through hell, keep going." First of all, congrats on getting this far. As you know, your consulting biz is a straight services play and will o
by grah4 15y ago
"If you're going through hell, keep going."
First of all, congrats on getting this far. As you know, your consulting biz is a straight services play and will only grow in relation to how many employees you have. Increasing price to match demand will only get you so far (unless you're a superstar). You do have a lot of options to grow depending on what kind of work you want to do.
- Build a network and do a rev share with other freelancers with different specialities. This will allow you to offload tasks you are mediocre at and focus on what you do well. This should increase network productivity and deal flow IF you find the right people.
- Expand on the cheap. Outsource specific tasks offshore. Do not outsource entire projects. To outsource for cost, you must break down everything into small manageable pieces.
- Move into account management and client services. Find firms/other freelancers who compete on cost and distribute your work over them. Quality and profit per project will drop but you should be able to increase your project flow significantly.
IMHO the best way is to build products and move out of services.
(I've done this a few times and currently have a small network of other freelancers while I work at a bootstrapped company.)