Tired of working for “billable hours” and not being able to charge for all the work you do? Frustrated with scope creep in your projects, where you end up doing “just this one more thing”? Alzay Calhoun of Coveted Consultant has the answer: Productize Your Service. With deliberate design, you can have a business that pays you what you deserve and keeps your activities within specific goalposts. Listen here:
Information used to be the core deliverable for a consulting company. Companies were paid simply to give advice and make suggestions.
The traditional (billable hour) generalist consulting company is fundamentally inefficient. Too much competition and too many complex problems. You can’t just throw bodies at the problem and figure it out as you go.
Consulting companies are now asked to be execution partners. They are asked to share in the risk of the project.
Consulting companies have to find a profitable way of operating in a new competitive landscape. When information/analysis can no longer be the core deliverable, and hourly-based pricing is incredibly difficult to scale, what should you do?
If there is one specific mechanic that changes all of these dynamics…it is the productized service.
1 – It promises a clear deliverable in advance. The knows what they are buying.
2 – It easier to manage a project than it is to manage billable hours.
The pressure (pain) is found in the daily operations of a consulting company:
– Bad sales calls. Lots of talking. No one buys.
-Custom proposals and RFP process. Constant guesswork on both sides (client/consultant)
-Scope creep. Vague projects get more vague.
-Clients don’t follow directions. They (un)intentionally do things to damage the project.
Have you ever asked “how to turn my service into a product”?
Watch this interview episode of the Cold Star Project with Alzay Calhoun, the Coveted Consultant founder, for answers on how to productize your business to scale.
Ready to put your finger on the dead weight in your business, and know exactly what to do to free yourself of it? Get the Red Team from Cold Star Tech.