Replacing Income With Online Freelance Consulting

Replacing Income With Online Freelance Consulting

4 Episodes

Our clients have skills. Yet, many have or will face unemployment shortly. And it is practically impossible for them to attend interviews, let alone find jobs. It is equally difficult, if not impossible, to do freelance consulting work since clients will not easily agree to bring consultants onto their sites.

How do you consult when you are stuck at home?

This leads to an evaporation of income. Both for consulting clients and industry/executive clients who have skills with which they can consult. Consulting should be the easiest profession for retrenched clients, but the lock-down makes this virtually impossible to do.

This program discusses the detailed case study of a client, Ranjeev Thakur, and how we helped him build a consulting business that is 100% sourced, delivered and managed online from his home office. All in 30 days. The goal was to replace his senior associate management consulting income, though he did much better and eventually built a much larger business in the space of a month, and will keep growing with the new advice we provided him.

This program is not about developing a side gig-based income stream. This is about replacing or exceeding the income you have, or may lose. This is about building a business for the new normal, or whatever that may turn out to be. This is something FIRMSconsulting Insiders can do immediately rather than waiting to see what will happen.

We believe it is better to take action now versus waiting to see what will happen. And done correctly, the returns are significant. Much higher than a consulting salary.

Developing a critical path to follow.
Picking a niche that is fairly large, using the language that the market understands.
Getting reviews.
Why is the process important? Documenting the process.
The reason most people fail to start and build an online freelance consulting business?
Which projects should you bid for?
What kind of demands online clients have?
The language you need to use to attract clients. What do clients want to know when they are considering you?
Which websites/platforms should you use to build your online freelance consulting business? Platforms we recommend to ignore.
Preparing your responses in a word document. How to quality check your responses.
How to model your profile.
Reviewing real profiles of ex-consultants (e.g. McKinsey), MBAs (e.g. Stanford, Yale) and more online. What did they do well and what needs improvement.
The key thing about your profile.
Profile photo. Dress code for your profile photo. Background to use.
Creating your profile together. Picking usernames. Selecting a service area and specialization as well as keywords and expertise level for your profile. What happens when you are picking your level (e.g. entry-level, intermediary, expert) and how it will impact your success on the platform?
Education, employment sections and languages.
Picking an hourly rate. What you need to bill to be seen as legitimate but not to lose out on opportunities.
Creating a portfolio of work.
Using the app from the platform.
Creating a system of documents and processes. Mapping everything. Creating templates. Collecting emails.
Scaling your online freelance consulting business.

Establishing the right mindset.
The reality of competing on cost. What should you charge in the beginning.
Per hour versus fixed-priced projects.
Creating processes. Documenting everything.
Managing contracts.
What should you bid for?
Following up with clients.
Two-part strategy.
Replacing your pre-crisis income.
Working for yourself.
Staying in the game. Managing your ego.
Building an online freelance consulting business that not only replaces your income but gives you a great life.
How the collapsing economy is impacting consulting work.
Focusing on a narrow technical skill.
Committing to the process.

This program is based on the experiences of our most successful clients whom we have mentored through many similar situations.

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Replacing Income With Online Freelance Consulting