
Building a Recurring Revenue Consulting Business [audio] - tomhoward
http://www.freelancetransformation.com/blog/building-a-recurring-revenue-consulting-business-with-einar-vollset
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patio11
This is really fantastic (just got done with listening to it). Highlights
include:

1) Why/how to price productized services at $500+ per month, and what this
implies for your target customer and delivery methods.

2) Delivery specifics: AppAftercare has N clients for M principal consultants
where N >> M. Each consultant is principal with regard to a client portfolio,
rather than e.g: striping incoming requests across all available consultants.
This means incoming requests generally handled by someone intimately familiar
with codebase at issue.

3) Einar's brief sketch on how he does prospecting, which is the single most
impressive part of a very impressive business. Briefly, he algorithmically
identifies signals which suggest that a client is uniquely in the market for
the product, scalably identifies decisionmaker contact details, and then cold
pitches them with an 80/20 email where 80% is templated and 20% is client-
specific value. After closing the new client all services are actually
provided through the team.

Capsule summary: a great way to spend your hour if you consult. Even assuming
one does no productized consulting the prospecting discussion alone
(approximately last 3rd of interview) is more than worth your time.

~~~
krmmalik
Bookmarked the podcast to have a listen later today. I've managed to
productize my consulting which has worked well for me in terms of sales
conversions and engagements etc. Ive been unable to identify a recurring
revenue stream however. My consulting work is all strategy based. Im paid to
think rather than do, whereas most others I have spoken to do some form of
execution as well. Do you think there's a way for me to come up with some sort
of recurring revenue model?

~~~
hristiank
Hey Khuram, just took a look at your website and I think there might be an
angle where you can charge a monthly retainer for KPI analysis and
recommendations.

Strategizing about growth is just the first step, you also need to put in
place the appropriate analytics to be able to measure it.

You can help your clients sift through what's really important, what needs to
be improved, etc. A lot of the tools today allow for the collection of
unlimited amount of data but it's pretty meaningless if you can't decipher and
act on it. Just my 2c.

~~~
krmmalik
Hi Hristian,

Thanks so much for the suggestion. I think you might totally be onto something
here. I've had a number of recent clients ask me to take a look at their
analytics for them. I could definitely turn that into a recurring revenue
model.

Would love to chat further with you about some ideas I have, would you be up
for a quick chat via skype or email? I may be able to pass you business as
well anyhow.

Thanks again.

~~~
hristiank
Hi Khuram,

I've just emailed you about setting up a time to talk.

Looking forward to it.

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casca
Direct link to audio:
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