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Ways to make money as a Consultant

We have discussed on various kind of new age consultants coming up in the society, wherein you use your creativity and your personal skills to help people, but how do you go about making it as a sustainable profession for yourself? These skills can change into a profession if you can generate revenue out of it. This article covers various types of ways people use to make money as a consultant.

How make money as a Consultant

  1. Workshops / Seminars

    Share your knowledge by conducting Workshops/seminars or courses the ones like NLP Courses at Watt Works and can charge the audience a nominal fee and do consulting at a general level and give few tips here and there. One can surely take a few questions from the audience and discuss them in depth. If you do your job well, for sure you shall get a few long term customers then and there.

  2. Networking

    Just giving your consultancy services to the clients about, what to do, how to do won’t make much of a difference. But, if you can go a step ahead, make your clients meet their potential clients, that can surely help them see value in your consulting, and in turn get revenue for your firm.

  3. Commission

    You can earn your commission in case of a conversion i.e. if you introduce two people and it results into business between the two, you get your commission.

  4. Tie-ups with institutions/ organizations

    If you are a financial consultant to a company, and doing your work right, probability is that you are financial consultant to the company’s employees too. Tying up with bigger firms gives you bigger customer base.

  5. Practical experience

    In case of a career consultant, you can get clients to spend a day or two at the professional place whose profession they would like to pick up. You can gain revenue out of the add-on services.

  6. Profit-sharing model

    If you are a consultant to a business firm, you can have a profit sharing model with your client. Your client should trust that you shall work your best in maximizing your profits, which would in turn be maximizing the company’s profit.

  7. Recall Value Subscription

    If you are a fitness consultant, and you have helped a 100 kg obese person bring down his weight to 60kg, it is very important for that person to maintain the same. Ideally, he would like to be reminded periodically about the fitness tips, do’s and don’ts. You can capitalize on this need and have a recall value subscription rolled out via e-mail, sms, etc. Similarly, a tax consultant can inform his set of customers regarding new tax-saving schemes, new policies being rolled out, etc.

  8. Products

    If there are few products that are good in the market and since you shall be suggesting your clients to buy them, why not have them at your place itself. E.g. if you are a fashion consultant, you can have a few trendy products in your store itself. This way you can earn money on products sold as well as attract more customers for the comfort provided of not going to out to search for those items.

  9. Brand ambassador

    If there is an item or product that you swear by, why not go endorse them!

  10. Educational Courses

    If you are good at your work, why not roll out a few educational courses. Teach, let people know about your expertise and in turn, create a Brand for yourself.

If you know of more creative ways of generating revenue please do share it in the comments below which will help more people to have a successful career.

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About Alisha

Business Analyst at Mu Sigma Inc.