If you’ve been working at your consulting business for a while, you may want to take another look at the business you’re in. It’s possible to get so wrapped up in what you’ve always done that you forget to take a look at the broader field. Sometimes, you can earn money from adjacent markets or by repositioning yourself.
When I started out, I was a freelance writer. After a while, I realized that I often spent a huge amount of time doing research, project management, communications planning and marketing strategy development. I repositioned myself as a marketing communications consultant and saw my market — and profits — expand. Later, I repositioned myself as a marketing consultant, allowing me to apply my business and numerical acumen in more profitable ways. Today, I do both business and marketing consulting.
If you always do what you’ve always done, you may miss out on opportunities. It may make sense to keep on doing what you’re doing. But ensure that you make an informed decision. Take some time to discover your inner consultant — consider all the things you could be doing. Find something that makes you happy — and that makes you money!