Money Mindset

Money Mindset discusses the experiences and opinions of a middle-aged professional on the topic of money, including: financial planners, investment experiences, part-time income sources, real estate investment and private sales, web site income opportunities, changing professions, home office organization, money education for kids, and many other subjects I have experienced first hand or even just thought about.

Thursday, February 08, 2007

Million Dollar Consulting

There aren't too many books I've read that have had a real and immediate impact on my income prospects for the next 3 months. Alan Weiss' Million Dollar Consulting is one of them.

As a consultant, I was stuck in the rut of having to work as many hours as I could to earn money on per diem contracts, ones that pay only for each hour you work. I was also pretty dependent on a small number of clients, whom I felt would begrudge me looking for work at other clients.

Two things I have learned from this book. 1 - Switching to "value-based pricing" for contract work is easier than I thought, giving much more earning potential. 2 -writing a proposal that "gets accepted every time" is much easier than I thought.

For me, I enjoy having a variety of types of work going on at one time. When I am on a single contract that focusses on one thing, my mind starts to wander, making it harder to focus. When I have two or more contracts, I work on what my mind knows is most important. That gives me a chance to balance work on each contract. Value-based pricing fits well here because it does not demand that I work a certain number of hours per day on a particular contract.

Other things I expect to learn from this book, and a set of audio CDs I've ordered from Alan, are how to create "Intellectual Property" and sell it as part of my marketing efforts. I can see everything starting to feed on itself. I am very excited about my own field of work; much more than I was a year ago.

I recommend this book for any consultant looking to take the stress of "feast or famine" out of the equation.

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