Create These 4 Undisputed Digital Assets to Grow & Scale Your 1-Man Consulting Practice
Build assets to work for you to grow a consulting practice. And there is no need to overthink it.
The consultant on the side needs many assets to grow a business.
Of course, different types of assets are required for different businesses. You don’t need to build a holiday resort at Bondi Beach to grow a 1-Man consulting practice, do you?
You don’t.
Knowledge is the lifeblood of our consulting business. We earn our keep from what we know and how we deliver work others cannot do.
Knowledge is our premier asset.
Thus, to grow and scale our 1-Man consulting practice, we must develop assets that carry the weight of our knowledge and travel at the speed of light. Doing this allows us to reach out to as many clients as possible.
And as fast as possible.
I have 4 undisputed knowledge-based digital assets to recommend.
Before We Start — What is Knowledge? What is it Not?
“We are drowning in information but starved for knowledge.”
Information is not knowledge. The Internet and Google have solved the information problem. Now we have more information at our fingertips than our parents.
That does not make us any more knowledgeable, am I right? Have you sold any consulting engagements based on information found on the Internet?
My guess is NO.
Knowledge is more than information. Yes, it can start from the information we have. However, consulting work is about applying the information we have to solve real-world problems and refining it continuously.
Knowledge = Basic Information + Application + Problem-Solving + Developing Professional Perspectives
The 4 digital assets cover these points in different ways.
Digital Asset # 1 — Client Case Studies
I covered many grounds in this article, so I will not repeat them here.
One point to add. Think about your ideal client profile and niche before constructing and publishing your case studies. It builds resonance.
I found that publishing case studies on LinkedIn in an article format work well. I get direct messages from time to time inquiring about the consulting services I provide.
Digital Asset # 2 — Opinion-Pieces (or OP-ED)
Consultants must have their unique point(s) of view.
I know it is tough to stand out. But it is worth trying. People associate you with what you do. And say.
And to you.
Opinions can be a giant moat to your 1-Man consulting practice.
How to write opinion pieces? These are my recommendations.
- Start with what you know about the industry.
- Inject your own perspective to explain why it is odd.
- Explain the possibility of a better approach.
- Shape what the near-term future will look like and the conditions for it to happen.
- Subtlely explain that you are positioned for the future of the industry.
Seek to publish opinion pieces in business magazines. Go for the top ones where you operate your 1-Man consulting practice.
You get high traction and visibility.
Digital Asset # 3 — Knowledge Whitepapers
“A whitepaper is a persuasive, authoritative, in-depth report on a specific topic that presents a problem and provides a solution.
Marketers create whitepapers to educate their audience about a particular issue, or explain and promote a particular methodology. They’re advanced problem-solving guides.”
- What is a Whitepaper?
Let me make an essential distinction between case studies and knowledge whitepapers.
Case studies are client-specific and incident-contextual. It is our experience and journey collaborating with our client at this point in time to solve this particular tricky issue.
Knowledge whitepapers are not used in this manner. You want to relate whitepapers to Y = MX + C. It represents one equation, one formula you can apply to all problems associated with straight lines.
In short, whitepapers demonstrate the pinnacle of the working knowledge as a consultant on the side.
- It shows that you have amassed years of problem-solving experience in the niche of your pursuit.
- It reflects how quickly you can identify and point your finger at the root cause of issues across multiple clients you consult.
- You can show future and existing clients how your products and services are created by distilling your knowledge into them. And that is why they pack a punch.
I find them brilliant, actually.
Consider publishing your knowledge whitepapers with industry associates you are affiliated with. Project Management Institute is your go-to if project management is the focus of your 1-Man consulting practice.
Our credibility as a consultant on the side is enhanced when professional bodies endorse our work.
Digital Asset # 4 — Peer-to-Peer Insight Papers
Are you surprised? Of course. Never imagined you could solicit business from other consultants on the side, do you?
The truth is there are many 1-Man consulting practices out there. And they need your help.
You can create insight papers to help your peers. I recommend you venture out of client-based, niche-based specificity into a diverse curriculum.
Think consultant helping other consultants. Or entrepreneur extending an olive branch to other entrepreneurs on the side, if you will.
When creating insight papers targeted at peer-to-peer support, stay practical and grounded. Get real. Provide genuine responses to their day-to-day struggles.
These topics will be good for a start.
- How to mobilize and start a consulting engagement
- How to develop a product and service catalog clients are interested in
- The consultant’s advice on timely collection of fees
- How to put together a quick proposal presentation
- How to structure a deal for profitability
- How to scale the 1-Man consulting practice without increasing headcount
- How to ensure that every consulting engagement completes on time
So on and so forth.
Take a tip from me. You want to keep the peer-to-peer insight papers straightforward. Create a Dummy’s Guide of sorts.
Make sure your insights pack a punch. Remember. Peers refer business to you because you have a good reputation.
Never allow your knowledge asset to destroy your business.
In Conclusion
The lifeblood of our 1-Man consulting practice is our knowledge.
We can disseminate what we know to as many people as fast as possible. Digital assets supercharge this objective. Look. There is a limit to the number of times we can be on stage, am I right?
And digital assets are not complex, to begin with.
Start with these 4.
- Case studies
- Opinion-Pieces
- Knowledge whitepapers
- Peer-to-Peer insight papers
You will be surprised how well they work to grow your 1-Man consulting practice on your behalf.
As a content contributor, I write my observations from daily life and my business exposure. Because our life experience is the bedrock of our unique perspectives.
