A YouTube video transcript where Katie McManus outlines a consulting business model for specialists aiming to leave corporate roles and earn roughly $200,000–$700,000 annually. She recommends operating as a fractional advisor with 6-month minimum engagements, providing 5–10 billable hours per week, charging $5,000–$20,000/month per client, and leveraging subject-matter experts and outsourcing to maximize billable time.
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If you're a specialist something and you want to quit your corporate 9 to 5 job so you can go and be a consultant doing that one thing that you love doing, then this is the business model for you. This is how you would start a consulting business where you would make between 200 and $700,000 a year, depending on what you do, how many hours you want to work, and a few other factors. And I'm going to break down the basics of this business model for you so you know exactly what you need to do. And you're going to do this as a fractional advisor. So you're not going to be working full time as a consultant in other companies. What you're going to do is you're going to be a fractional advisor and your clients are going to work with you for six months minimum. You're going to provide five to ten hours of work per week, focusing on high level strategies. You're going to be directing people on their teams, you're not going to be doing the stuff for them and you're going to charge between $5,000 and $20,000 a month depending on the the industry, your expertise, their responsibilities and your experience. How much money you can make doing this varies wildly based on all those factors, but you can make as little as $20,000 a month or a hundred thousand dollars a month if you decide to go with an agency option. But you're going to be paying out of that, so it's not all going to be profit. The key here is you're going to need help. You don't want to be doing all the marketing for this. You want to make sure that you are maximizing your billable hours so that you can make as much money as possible. And in your other time you're actually doing stuff that you enjoy doing, not not stuff that you don't want to do for the business. And it will really help you in the long term if you bring in some subject matter experts who can help you with client work. It's one of the best ways to go above and beyond for your clients. I'm Katie, your practical business coach and I run a whole community called build your own business, BYOB for short. For people in our community who want to leave their corporate 9 to 5 and replace their 6 figure salary. Making this kind of money so they can do work that they love that actually helps people. People. Now let me know in the comments if you want me to do a part two where I break this down further.
