The longer I consult, the bigger my clients get on average. And with that, my revenue and profit has been increasing in lockstep.
I used to work with small businesses. And I still technically do!
But the small businesses I work with are getting bigger on average. And as a result, I can charge more and do more work in my wheelhouse.
My clients now are less price sensitive, do more advanced marketing, have more resources to leverage, and they see greater value as a result. It’s an ideal combination.
It’s gotten to the point where I could focus exclusively on multi-location coworking spaces—a tiny market compared to most—and would still have a thriving practice.
(In case you don’t know, I do marketing consulting for coworking spaces as my main gig).
Why do I tell you this?
Sometimes, the thing holding you back from earning more is the type of customer you’re working with.
You only have so much time, energy, and bandwidth to do client work. It might be as simple as continuing to move upmarket to more established businesses.
Or, you might benefit from working exclusively with better-funded businesses. Or some other proxy for higher earning potential.
So how do you begin to evolve to larger (or more profitable) market segments?
The best way I know how is by creating customer segment-based services.
Your services become less about levels of deliverables/access to you and more about the size and/or problems of your ideal buyer.
For example, I have a service called the Empire Program for 4+ location operators, the Navigator Program for 1-3 location spaces, and the Ignite Program for pre-launch spaces.
The Empire Program has the highest price, as you’d expect. But the Ignite Program is more expensive than the Navigator Program even though the target business is pre-revenue.
Why? Because the client receives greater value (and there’s more work to be done since we are starting from scratch).
The value I create comes in the form of:
- De-risking their business and marketing investments
- Building things the right way the first time vs. redoing things later
- Faster revenue growth leading to greater downstream profits
- Saving time finding and vetting contractors
- Thinking about every decision and reinventing the wheel
The list goes on!
If you find yourself working with very small businesses or startups, consider creating a separate service for scale-ups and/or larger established businesses.
Design individual services around the different types of buyers in your industry so you can be compensated for the greater value you’re creating.
The same core service aimed at two different audiences can command vastly different fees—and position yourself as a credible option for that segment.
Want to learn more?
I recommend checking out my recorded workshops:
- How to Sell Custom Consulting Services
- How to Productize Your Advisory Services
Both are included in my membership, now available for a single lifetime access investment of $500.
By joining, you’ll also unlock:
- All my other trainings, templates, and resources
- Access to a private Slack community
- Ongoing updates with new resources added every month
Everything you need to thrive as a solo marketing professional is waiting for you.
—kevin