7 Highly Effective Ways I Plan To Scale My Six-Figure Consulting Business In 2023
Scaling = leverage
Boomers are skeptical of my one-man operation.
I am skeptical you need to hire 10+ people to build a $1m+ solopreneur business.
They constantly ask me:
How do you even grow a one-person business?
These are the seven simple solutions I’ve come up with.
1. Hiring a virtual assistant
I’ve taken the plunge and hired my first virtual assistant through an ethical outsourcing company.
My VA will be able to work from home while she takes care of her new family and gets paid a good wage. I am even paying her to take time off over Christmas.
Win, win.
Through my VA, I’ve outsourced:
Email management
Content creation
Social media management
Design and marketing
Calendar scheduling
Essentially any tasks that are important but don’t add value.
This frees up my time to add value by being to:
Prospect for more clients
Network with people in my industry
Attend events
Set aside time for strategic thinking
Rest and relax
Outsource and liberate.
2. Automate by using technology and software
Most boomers I know still do things manually.
They are leaving free, permissionless leverage on the table.
Here’s my tech stack to automate mundane tasks.
Calendly = booking meetings
Zapier = integrating apps together
Canva = creating beautiful graphic design
Copy.ai = writing words with little hassle
Later = scheduling LinkedIn posts
Trello = project management
ConvertKit = email marketing
Typeform = newsletter management
Most of these tools can be used for free or at a low cost.
And you can learn how to use them through Google and YouTube.
Don’t know how to do that? Maybe entrepreneurship isn’t for you.
3. Transitioning from freelancer to an agency model
A freelancer is a glorified employee.
Just with fewer benefits and security.
My biggest challenge in 2022 was clients treating my business as a freelance business. They saw my business as synonymous with me.
Therefore, when they engaged my company, they would demand my time and expect that I would be in their office.
I am currently doing a course and hired a business coach to help me transition my business from a freelancer into an agency model.
An agency model gives me 3 things:
Time Freedom
Location Freedom
Financial Freedom
I can ‘work’ where ever I want, with whoever I want. And get paid well.
Here are the biggest changes an agency model offers:
Packaging: Bundling discrete services into a monthly subscription offering.
Pricing: This packaging creates recurring monthly profit and the ability to scale.
Delivery: And can be delivered by leveraging contractor arbitrage. This is a fancy way of saying I’ll outsource most of the work to others.
Agency model > freelancing.
4. Building an engaged audience
Content and data are the new oil.
The most valuable thing a business can do is build an engaged audience.
This doesn’t mean you have to dance half-naked on Tik Tok (unless you want to of course).
I plan to build my audience through the hub-and-spoke content model.
I will create a weekly long-form piece of content and then repurpose that ‘hub’ content into discrete ‘spokes’ or shorter-form content that can be absorbed very quickly.
It’s a “create one, cut many times” mentality.
Justin Welsh made more than $100k using this method.
Here’s his diagram:
My long-form content (hub):
Weekly newsletter
Fortnightly podcast
My shorter form content (spokes):
5–6 posts on LinkedIn per week
5–6 posts on Instagram per week
You first build your audience, and then your audience builds your business.
5. Creating a portfolio of digital assets
Digital assets make money while you sleep.
While it takes an upfront effort of time and money, the ongoing cost is low.
Here are some of the digital assets I’ve got in the pipeline:
An e-book that solves a specific problem in my niche.
A Scorecard App that generates leads and provides value for prospects.
Creating a catalog of blogs and thought leadership articles.
A course on creating a niche six-figure consulting business.
The biggest mindset shift I have made this year:
Every output I make now is a potential digital asset I can sell later.
6. Building a team of subcontractors, advisors and coaches
Nothing great can be achieved alone.
Even as a solopreneur, you need to surround yourself with people who are smarter than you
I’ve got subcontractors who help film and take photos of events that I attend. They then design some cool-looking content.
I’ve got subject matter experts that advise on project quality and best practices. Their advice saves me from making silly mistakes.
I’ve got a team of coaches who help with business development, mindset and strategic planning.
It takes a village to create a business.
Invest in building a community of supporters.
7. Apply the 80/20 principle.
I am auditing my business using the 80/20 principle.
The pattern that has emerged is:
20% of my clients bring in 80% of my revenue.
20% of my clients create 80% of my problems.
What does this tell me?
I need to politely tell the 20% of my clients that cause most of my problems to get lost.
I need to find more clients that do meaningful work and bring in revenue.
Lose the 20% to make room for the 80%.
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