349: How to Start and Grow a Local Consulting Business: Effective Marketing Ideas
Aug 22, 2019
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Sylvia Inks, a financial coach for small business owners and author of "Small Business Finance for the Busy Entrepreneur," shares her journey from IT consulting to financial coaching. She emphasizes the importance of networking and adapting services based on client feedback. Sylvia discusses impactful marketing strategies and engaging presentations that resonate without overt selling. The conversation also touches on innovative solutions for managing business finances and the critical role of accounting tools for entrepreneurs. Tune in for actionable insights and inspiring stories!
Networking is crucial for identifying niche markets and can unveil unexpected client demands, as experienced by Sylvia Inks with small business owners.
Public speaking significantly enhances visibility and client acquisition, allowing consultants like Sylvia to build credibility and generate income through diverse channels.
Deep dives
Identifying Niche through Networking
One key point emphasized is the importance of networking in identifying niche markets. Sylvia Inks initially approached networking events with a focus on personal financial coaching, targeting busy professionals struggling with finances. However, she discovered that many small business owners were interested in her financial coaching services for their businesses instead. This shift from her initial target audience to small business owners highlights how engaging conversations can reveal unexpected market demands.
Structuring Coaching Services
Sylvia developed her coaching packages strategically, ensuring they offered value while also addressing her own time investment. Instead of charging hourly, she created structured sessions with three-month and six-month packages, leading to more predictable income and deeper client relationships. She tailored her services based on client needs, even creating intensive coaching options for those wanting quicker results. This approach allows her to maintain flexibility while meeting varied client demands.
Leveraging Speaking Opportunities for Growth
Public speaking plays a significant role in Sylvia's marketing strategy, providing avenues for building credibility and reaching new clients. After accepting unexpected invitations to speak, she refined her presentation skills, which eventually led to paid speaking engagements and increased client inquiries. Sylvia’s presentations serve as a platform where she showcases her expertise, leading to follow-up consultations and coaching clients who were initially just audience members. This highlights the potential of public speaking as a means to enhance visibility and client acquisition.
Creating Multi-Channel Revenue Streams
Sylvia successfully generates revenue through multiple channels, demonstrating the importance of diversified income streams. From her presentations, she earns speaking fees while also selling her book and attracting new coaching clients. This multi-faceted approach ensures that her business remains robust and financially stable, even if one revenue stream fluctuates. By aligning her services, books, and speaking engagements, she maximizes her impact and profitability in the financial coaching industry.
She always knew she wanted to start her own business, she just didn’t know what kind of business.
Sound familiar?
So, Sylvia Inks asked friends and colleagues what they saw her as an expert in, and what they go to her for advice and help with.
Their answers?
“They said I’m great with finances, and they said I have great research skills,” Sylvia told me.
This helped Sylvia narrow down her focus to financial coaching. From there she started networking, wrote a book, and worked diligently on her presentation and speaking skills. Her business has taken off as a result.
Tune in to hear how Sylvia found her niche, found her first clients, and continues to level up her impact and income. As you listen in, you'll notice the common theme throughout the call: conversations + action.