Apr

30

Creating a Market For Consultants

April 30, 2008 |

I am currently offering services that are in higher demand than the available offer. That is fortunate for me, as you might expect that the law of Offer and Demand will be in my favor. In reality the macroeconomics law helps – but only if you can put it in a macro economy. When you put it in a micro-economy (that is, when the Consultants offering my services are so few), it doesn’t work as well.I have decided that I want to create a Market for my services. It is common for entrepreneurs to convince Clients that there is a need for their products or services so that by generating Customers you can pair them up with the Offerings and builds the Market. I am in a situation where I want to build the Market in just the opposite way: I know there are potential Customers – I just want to build or help build the resources these customers want to buy: the Consultant’s time.

You see, I am only one person. I would be extremely happy if I could work about a hundred and fifty days of the year at a fairly high rate: that will give me enough to live and save, while providing a high quality of life. However, I know that there are projects that could potentially cover several times that number of days, thousands of days.

Here comes the dilemma:

  • If I do not help my Clients they may have to replace the technologies they use – reducing the need of my services and eventually shrinking the market.
  • If I help all of them I do not have a life – way too much work, working nights and weekends.

Now, if I could only find a way to build a market. Train consultants to perform the services I perform: even if they take most or all the compensation for the services they deliver. When the market is in such a high demand for my services and at the same time is on such a high risk of collapsing I think that having other consultants in the market can only help me. These are just a few of the ways in which it can help me:

  • Customers can rely on me. A Client may call me first to try to get my time. I can choose to work the gig if I am available and interested. If not, I can refer them to those people that are most capable (in my opinion). Either way the Client is happy: either they get my quality, or they get someone that is better than average – recommended by me.
  • I can work on more complex stuff. Junior consultants can take the run of the mill engagements while they train themselves into more complex activities. They create a Customer base that already sees the value of the kind of services offered. At some point they will want even more value: the kind of value that only an experienced Consultant can provide. There I come, with a value priced offering – at a higher rate than the unproven idea of installing and configuring the solution.
  • I differentiate myself. My brother tells me I am his best brother – it may be because I am the only one. Albeit funny, it is not particularly flattering: anyone can earn the 1st price on a race where only one person runs. By the same token, it is not possible to establish that I am the best (and most valuable and expensive) Consultant unless there are other comparison points.

How do I create the market? Any ideas?


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