Successful businesses are deliberately boring: they pick one service, one client type, and repeat it like a factory. Most consultants underprice themselves because they sell hours instead of results. Specialize, become the expert, and charge for outcomes.
Chapters
The most successful businesses that I see are very boring businesses. They do the same thing over and over again. They do one thing really well for one specific type of client and effectively create a factory and get known for doing that thing. It elevates the number of clients you can work with because now you can build a team around it, but also elevates you as an expert based on the results which you deliver, which therefore you can start to add more value to it. I think a lot of consultants go into this thinking like entrepreneurship is and I'm gonna get so much free time, and I'll be building my websites from a beach hut in Bali, and all this sort of stuff. I hate to say it, that's not the reality of it. And a lot of people come into entrepreneurship and then get very disappointed because they'll sell an hour, but what they've forgotten to sell is the outcome of that website or whatever it is that they do for their clients. And essentially, they scratch their head going, where's all the money? I've worked really hard for 160 hours this month, but I don't feel justly rewarded for it.