Bitcoin has seen a tremendous rise over the last decade. The last year in particular.
Why? The underlying premise is the fact that there will only ever be 21 million coins in existence. Which means they’re inherently scarce. Unlike any fiat currency, which governments can print more at any time.
There are far more reasons why Bitcoin has seen such a surge in popularity, but that’s the crux of it.
If Bitcoin could arbitrarily create more supply, it would have little to no inherent value. And it’s the same with your consulting practice.
There are two ways to be scarce:
I like being a solo consultant because my availability is inherently limited. If you want to work with me, you better either wait in line or pay the price (which goes up as I get busier).
I also like being specialized because it means my skills are rare and therefore more valuable to those who want what I offer.
Do you want to work with a generalist consultant, or me, the guy who specializes in exactly what you need?
If Harvard decided to expand and create multiple campuses around the world, would it still have it’s cachet? My guess is it would lose a LOT with every new location.
If Harvard accepted just anybody into their school, would it still be as valued? I’d guess no. Having a Harvard degree says a LOT about your academic caliber.
That’s because they’re small, which means they need to be selective, which reduces supply, which drives up price, which can be reinvested into the quality of the educational experience, which increases demand, and so goes the cycle.
If you want to increase your value, increase the scarcity of your availability and expertise.