5 Easy Ways to Scale and Grow Your Consulting Business

By MBO Partners | February 19, 2020

people talking at desk in office

The independent workforce is growing both in size and ambition. The majority of independents say they plan to remain independent or even build a bigger business. Whether you’re among those planning to grow their business or you’re already a seasoned small business owner ready for the next step, there are many options when it comes to growing your solo business.

Deciding to grow your business is a natural next step and isn’t limited to simply scaling the size of your company. You can also grow in: profits, revenue, market share, brand position, influence, or geography.

Once you’ve made the decision to grow, it’s time to decide how to achieve that growth. Below, learn five ways to take your business to the next level.

1. Become a Thought Leader

As a thought leader, you become a visible expert in your industry. This role can boost your brand positioning, expand lead generation, and increase revenue. To establish thought leadership in your community, consider publishing custom content, seek out speaking engagements, or lead an educational training session. Your platform may not only be a springboard to more and better project opportunities, but it can also become a secondary source of revenue for your business.

2. Team with Other Consultants

For some, hiring help can be a key growth strategy. Remember, your time is valuable and wasting that time on activities that detract from making a profit for your business can happen faster than you think. Bringing in specialized expertise or teaming up with another independent professional can increase your profits by freeing you to focus on growing your influence, market share, and revenue.

Of course, partnering with another independent or taking on employees is not for everyone. If you need assistance running your business but don’t want to grow in the people department, consider a different type of partnership. MBO Advantage is a program specifically developed for independent professionals. As a member of the Advantage community, you gain access to leading enterprise clients looking for knowledgeable experts like yourself, and an advisor to look after your business health, guide you on best practices, and handle routine support activities.

3. Incorporate New Technology

You can do more with less by improving the efficiency of your business operation. Look for ways to automate daily tasks to improve your productivity. Smart technology can save you time and resources. Even small improvements such as using apps to manage social media postings, track your time, or schedule appointments can impact your bottom line.

4. Focus on Promotional Activities

One way to grow your independent business is to grow your opportunities. Land more and better client opportunities by focusing your attention on networking or lead generation. Expand the reach of your business by promoting it through a variety of channels. Turn your customers into a sales force by asking for referrals and use customer testimonials as social proof to help drive more business. Develop and implement a monthly marketing calendar that helps keep promotional activities on track. With a focused and sustained effort on sales, you will drive more business.

5. Expand Your Service Offerings

Grow your business by expanding what you do. Cross-sell new services to existing clients. Penetrate new markets. Consider natural additions to what you are already offering. For example, you could create a product or certification process to teach others what you do. This will not only grow your business, but your thought leadership platform as well. Consider packaging your knowledge into a product you can sell such as a book, training course, or webinar. Then, use your new product to reach new markets or as a lead generator to develop deeper engagements.

As an independent, you have the advantage of being able to decide when and how to grow your business. You can quickly move to fill a gap in the marketplace or respond to market demand. You can scale up, out, or both. The joy of independence is that you have the freedom to grow your way and on your own terms. For more information about what Advantage has to offer, take a look at the details or reach out to our team of experts today.

Find independent consulting jobs with top companies through MBO’s marketplace

Join Today!

Related Posts

consultants working on laptop

6 Tips for Leading a Successful Client Meeting

August 26, 2021

Seeing your time and effort pay off by finding that perfect project feels good, but nothing is finalized until a contract is signed. Whether you’re meeting with an existing client to review opportunities for additional work or speaking to a potential prospect about a proposal, it is important to create a solid business case and present…

consultants working in office

5 Tips for Closing the Deal and Getting the Job

August 11, 2021

Attracting prospective clients is an essential part of your job when you run your own business. Bu marketing your services and growing your network are just the first steps. On the path from initial discussions to signing a contract, how you handle the process of closing a sale is critical to gaining new clients. Below,…

people talking at desk in office

4 Ways to Get New Consulting Clients

August 4, 2021

Figuring out how to land your first clients is one of the most intimidating aspects of becoming an independent professional. Visions of cold calling and repeated rejection can quickly cloud your thoughts, and worries about being able to find any clients at all can feel paralyzing. These fears can sometimes scare potentially successful independent consultants away…

Learn more about the MBO Platform

For Independent Professionals

Start, run, and grow your independent business with MBO

For Enterprises

Find, manage and retain top-tier independent talent