3 Real Examples of How to Start a Consulting or Service Business
Making money online is a skill in itself. If you already have a website, a blog, are good at social media, or know how to make money with affiliate marketing or selling anything — then you likely already have an expertise and desired skill.
All too often, people undervalue themselves and don’t pursue opportunities that could be making them a lot more money. A perfect example of this would be selling online courses, consulting or even building our your own agency. In most cases, all of these could be considered as a consulting or service business — with the service being your expertise.
A few of the main reasons why people tend to stay away from these areas is often because they are scared to take the plunge or don’t have the right direction or resources. With that in mind… I say, “No more excuses!”
Today we are going to look at a few different ways you can start making even more money online by putting a premium price tag and business model to your expertise, while also giving an example of each as well.
Let’s get started!
John Chow Turns to In-Person Coaching and Speaking
When John Chow first started his blog, it was simply just to have a blog and write content that would keep his family updated with his current adventures, life updates, and even what he’s been eating. As he started to write more about online marketing and making money online, he then was challenged to start making money with his blog from a reader — which he did through on-site advertising an affiliate marketing. However, John was only just getting started at this point…
If you jump forward to today you will see that he is now earning more than six figures per month with his blog. The majority of this revenue is generated from MOBE and his massive mailing list and sales funnel. However, it was when John started traveling the world, sharing his story and speaking to others, is when his earnings really started to jump.
Not only is this is a perfect example of how John took his expertise and passion from simply blogging to be a world-renowned speaker and teacher, it’s also a great example of someone going that extra step and moving outside of their comfort zone.
Starting Your Own Consulting Business
As mentioned at the beginning of this article, anyone can take their expertise and turn it into an online business. While many people will go the route of creating a website or packaging up their information into a course, another option is to actually start your own consulting business or even an agency. The benefits of creating a consulting business are that you can bring in high-end clients that will pay you on a monthly basis, whether that be for services or to simply have you on a retainer.
Through the power of the internet, starting a consulting business is actually easier than ever before. In fact, many freelancers actually find themselves moving into this model as well. Since anyone can create a website, contact potential clients, and also automate and scale their business without a huge investment necessary, it’s more about knowing what direction you want to take versus anything else.
We can take a look at the consulting delivery models below, and quickly get an idea of what model might fit best for you and your expertise. For most bloggers and online marketers, “online programs” are often the best solution, as many of us are already familiar with the concept of writing and packaging up our best content. You can start with this focus, then scale into the other areas as you get a better feel for your consulting services.
This is something Gary Vaynerchuk has done very well with. He was originally known as the wine guy but was able to turn his parents $3 million business into a $60 million one, while also becoming the authority within his niche market, and ultimately becoming a world-renown entrepreneur and social media star. With all of that success and leverage in place, Gary has not only taken that talent and expertise and put it to good use, he also flipped it into Vaynermedia which now works with some of the top businesses and brands in the world today, while also charging a high premium in the process.
This is a perfect example of someone who was able to take their expertise and passion for something (outside of online marketing and business) and turns it into a much more profitable business that caters to individuals and brands around the world.
Creating an Authority Blog and Being “The Brand”
I personally have a lot of experience with blogging and using its leverage to create my own brand online. Through the use of my history and expertise within the online marketing industry, I was able to do exactly that. I first started making money online back in the mid-90s, but it wasn’t until 2007 when I actually launched my blog at ZacJohnson.com. I had the domain name for a while, but it was quite a decision on whether or not I wanted to go this route and put myself out there.
At the same time, you have to realize this isn’t something that happens overnight. Below you can see one of my first checks from back in 1998 for a measly $10.45, then another check for $306,373 in 2006. These types of experiences, proven success history, and adaptations to the environment around you are what can make your expertise and skills really valuable when building an online brand and turning it into something much more.
Ultimately, I decided to move forward with the blog and it was one of the best decisions I ever made. I did this for several reasons, but mainly because I wanted to become my own brand and not rely on other companies or affiliate marketing as my only revenue source.
As a result of this, I’m now able to not only generate revenue through my blog but also the many new opportunities it presents to me on a daily basis. It also makes for a great success story and is just another example of everyday people who take advantage of what blogging can offer, and turn it into much more.
If you want to have complete control of your financial status and your future, having your own brand or business is one of the best ways to accomplish this — while also maximizing your expertise and passion in the process.
It’s Time to Turn Your Expertise into a Real Business and Massive Profits
If you are currently making money on the internet, have your own websites, or even your own business, it’s time to consider your options with expanding your expertise into even more profits and taking it to that next level. Be sure to consider each of the options above, as we have associated and real-life examples of each and how it was able to propel those individuals into the large brands they are today.