2 min read

Evolving From Consulting to Product Offerings

Evolving From Consulting to Product Offerings
Photo by Art Institute of Chicago / Unsplash

When I took the leap from "W2 Executive" to "Full Time Consultant", one of my main goals was to use this time to develop a scalable product. I suspected going in that consulting wouldn't really scale past myself, and after a year of consulting I can confirm that to be the case. It's a grind.

There are only so many different ways that you can divide your own time and attention, and short of being a lawyer or doctor, you won't see much increase in income as a solo practitioner. When people ask me how it's going I usually say "it's about 10x the work for about 1.1x the income of an executive job". Don't do this, at least initially, with the expectation of unlimited earnings as a solo consultant.

The opportunity to spot a scalable product need is there in consulting, though. One huge advantage to being a consultant is that I am able to see common challenges and opportunities across multiple clients.

I'm constantly evaluating all of of these challenges, every day, to see which might be a productize-able offering. This increase in "luck surface area" is a crucial advantage of this consulting phase vs. just being an employee at one company.

Once a common need is identified, it could be productized by:

  • Hiring resources to do something defined and repeatable, giving you scale and leverage
  • Building an app or software to solve a defined problem
  • Creating a paid training curriculum/courses that solve this problem
  • Creating a sellable book, e-book, blog, or articles that solve this problem
  • Simply narrowing the scope of what you do to something that takes less time and yields more money (getting out of a 1:1 ratio between time and money)

I'm thinking about this every day. WHAT is the common pain point and HOW am I going to productize it? This is the off-ramp from the grind of consulting.

It's critical to avoid the trap of being so wrapped up in consulting that you forget about the bigger goal of creating a product of some sort.

You have to MAKE the time to think about this stuff and stay focused on it every day or at least every week. I really have to work at this, and so will you!