How to Grow Consulting Revenue

Massive but often overlooked reality check for fractional execs/consultants: Your greatest source of profitable “new” clients are nearly always current and past clients, colleagues, and those in their immediate circle. They know you, they know your work, it’s familiar. Yes, it’s important to be sharing knowledge / success / setbacks / hopes and dreams with the world on LinkedIn, and “shooting your shot” with some occasional cold outreach. But with extremely few options (like literally two), I can trace ten years of client “trees and roots” growth and probably 70% of revenue to my first major client retainer in 2015. Here’s 5 practical prioritization tips: 1) Focus on delivering amazing results for clients always, 2) Dedicate most of your biz dev efforts on your closest circle i.e. people and places that already know and trust you. Ask these people for referrals. 3) When doing cold or lukewarm outreach, focus on direct adjacent sector or similar work streams and be precise “In 9 months, I helped _____build an sustainable community engagement program that [insert very specific results]. 4) Share what you know and love on social and accept speaking invites to events and platforms. 5) Make referrals and get referrals. When something is outside of your wheelhouse, be diligent in connecting the potential client with someone who can knock it out of the park. I guarantee you both parties will remember when they’ll need your skillset. ———————————— And that’s it for now! Anything else folks want to add?

"Why Buy the Cow When You Can Get the Milk for Free?" is a horrible mindset... when it comes to building your business Too many worry that sharing too much insight upfront will eliminate clients’ need to hire them. But, in reality, holding back does more harm than good. Here’s why giving value freely brings clients to you. Building Trust, Not Dependence Clients pay for more than knowledge; they want unique insights and tailored guidance. Sharing valuable information builds trust, not dependence. By freely offering actionable insights, you establish yourself as a knowledgeable and generous expert—qualities clients remember. Action Step: Share part of your process, like a checklist or framework that solves a specific problem. This builds initial trust and allows you to filter in for your ideal client. 1) Information Isn’t Implementation Clients don’t just want information—they want your expertise in applying it to their unique challenges. They seek transformation. Offering valuable information lets clients experience your approach while highlighting their missing personalized support. -> Action Step: Host a webinar on a common issue, then share case studies that showcase your hands-on impact. 2) Free Value Creates Bridges to Paid Services When clients experience your expertise they are more likely to seek your deeper guidance. Giving valuable insights for free builds familiarity with your methods, making the transition to paid services natural. -> Action Step: End each piece of content with a call to action—invite clients to connect or share a success story. 3) “Free” Expands Your Reach and Credibility Freely sharing expertise increases your visibility. As your content circulates, it introduces you to new clients. This isn’t lost revenue—it’s marketing. -> Action Step: Encourage sharing in your posts to boost reach and credibility. 4) The More You Give, the Stronger Your Brand “Why buy the cow” suggests that giving devalues your work. The opposite is true in consulting: the more you share, the more clients see you as a go-to expert. People remember the problem-solvers. -> Action Step: Consistently publish content that answers questions and offers solutions. In Consulting, Giving is Selling By freely offering value, you aren’t “giving away the milk”—you’re showing potential clients why you’re the right partner. Clients aren’t buying your information; they’re investing in your ability to deliver tailored solutions and guide them through challenges. Generosity is your best brand-building tool.

Before StealthX, I built a $10M/yr consulting practice from $0. Here are 13 things I learned along the way. 1. Do the little things. Take notes. ACTUALLY listen. Follow up. Follow through. Be the person who does what they say they will. These small actions build trust & credibility over time. 2. Focus on relationships, not deals. People remember how you make them feel. Be the trusted advisor they call when they’re stuck or need a sounding board. Play the long game. 3. Show, don’t tell. Actions always speak louder than words. Create prototypes, mockups, or models to demonstrate ideas. Don’t talk at people or assume they are on the same wavelength. 4. Be ready for long sales cycles, especially with big companies. Decide upfront if the potential payoff is worth the time and effort. For example, we were working on selling into a large Fortune 100 for 2 years before we got an MSA and then had a year after that before we closed our 1st deal 🫠 5. Never count on a deal until it’s signed. I learned this the hard way, more than once. Nothing is guaranteed until the ink is dry. 6. Build systems early. From wikis for shared knowledge to standardized sales processes, the right systems let you scale faster and more smoothly. 7. Focus on culture and hiring for 30% skills. I believe 70% of skills are hard skills, and 30% of skills are the soft skills. These are so much more important. Also hire for what I call the "Core 4. " Have a growth mindset, good communicator, high give-a-s***t factor, and a strong bias towards action (i.e., hire doers). 8. Walk away from bad deals. Not every opportunity is worth it. Protect your team and focus on doing work that aligns with your values and goals. Be willing to leave $ on the table. Focus on the inputs and the score takes care of itself. 9. Invest in yourself. Read books, listen to podcasts, attend industry events, get executive coaching. You’re the ceiling for your team. Raise it constantly. 10. Ask bigger questions. Get to the why behind the what. Help your clients think beyond the surface to understand the real problem they’re trying to solve. For example, “Why do you want to do this? What’s the ultimate outcome? Who's this for? How do you know this is the right problem? What might cause us to fail?” 11. Use storytelling to drive change. Don’t just present data. Paint a picture of what’s broken and the future you can help create. Connect emotionally and tailor your approach to your audience. 12. Start small, then scale. Land a small project first, prove your value, and earn trust. It’s easier to build momentum this way than pitching huge engagements upfront. 13. Don’t trap clients. Empower them. The consulting world loves recurring revenue, but clients hate feeling dependent. Deliver clear, goal-driven projects with measurable outcomes. Results bring them back, not reliance. These lessons shaped how I approach building teams, serving clients, & growing businesses. Now they’re the backbone of StealthX 🤘

Your next big deal is probably with a past client.   Most consultants think growth means landing brand-new clients.   So they close a deal, deliver great work, and then move on. But here’s the truth: closing a client isn’t the finish line. It’s the starting point.   If you don’t go back and deepen that relationship, you end up chasing one-off projects instead of building a stable business.   Growth doesn’t always come from more clients. It comes from richer, deeper, longer engagements with the ones who already know your value.   Here are 3 ways to unlock that: 1️⃣ Re-engage past clients. Even if your positioning has evolved, their priorities may have too. 2️⃣ Expand inside existing accounts. Don’t stop at one department. Be the partner who spreads across the organization. 3️⃣ Shift from one-off projects to multi-year partnerships. Stop playing for quick wins. Play for contracts that compound.   The gold mine isn’t out there somewhere. It’s already in your past & existing client list.   #Consulting #BusinessDevelopment #GrowthStrategy