Making a seven-figure income as a consultant is one of the most rewarding experiences you can have. Not only can you have a massive impact and change people's lives, but you can also do it on your own terms: making the money you want, working the hours you want, and creating your life by design. But how do you go about earning a seven-figure income? The amount of money a person earns in a seven-figure income varies from industry to industry and job to job. Doctors, consultants, and athletes are some of the most common professions that make seven figures.
You might think that these jobs are only for the elite or those with an established background in these fields, but that's not necessarily true. The first step to earning a seven-figure income is to get your personal finances in order. You should begin by controlling your spending, getting rid of anything unnecessary, and investing in the right places. An external consultant can provide specialized knowledge and quick and efficient solutions for a company to obtain the results it seeks.
Having done some consulting or running an agency in the past is an advantage, but it's not a requirement. If you're in the world of coaching and consulting, you might see people promoting courses, billing by the hour, or selling smaller packages, but none of that is going to help you get a big injection of money. Consulting is much more congruent with the business world than other models. Companies hire consultants because it's usually much more cost-effective than hiring an employee.
And on the other end of the spectrum, trying to get big business customers seemed like a pipe dream for a startup consulting firm. If you're planning to create a consultancy or agency, understand that this model will be a great advantage for you right from the start. You can generate solid “core” income in the initial phases of the project, even before moving to the performance-based phases. The author strongly recommends that you consult with professionals who can advise you on the best way to invest in the growth of your company and the best way to gain customer loyalty.
Although there is no doubt that there are ways to save time and minimize availability, consulting is not “100% passive”. But once you see what's possible and understand the real levers of a company that can quickly generate this kind of impact, it's really the smartest way to turn your skills into a significant asset as a consultant.