Consulting Success Podcast The Best Consulting Business Model
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Dec 16, 2024 Delve into the intriguing world of consulting business models! Discover the strengths and weaknesses of solo practices versus firm structures. Explore the rise of productized services and why a hybrid approach may offer the best of both worlds. This discussion provides valuable insights for maximizing both personal satisfaction and financial success as a consultant.
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Defining Business Models
- A business model is how a business creates, delivers, and captures value.
- It's not just about making money, but the entire structure and operation.
Solo Consulting Model
- Start as a solo consultant to gain experience and build from the ground up.
- Focus on high-value engagements due to limited capacity.
Limitations of Solo Consulting
- Solo consulting, while potentially lucrative, lacks scalability and external value.
- The business is entirely reliant on the individual, hindering its growth and saleability.