Everyone knows that time is money.
As a consultant, this old saying is especially true. Your time- and the knowledge, experience and insight that’s provided to clients during that time - is your product. Consultants bill by the hour and every hour spent doing things other than billable work carries an opportunity cost. Yet to have a successful business, you also need to spend your valuable time generating new clients. This need to choose where their time goes puts many boutique consultants in a bind.
Growing your business requires doing the unpaid grunt work that is required to develop your next client. And the next. And the one after that. Will you write content marketing posts? Will you build up lists of emails?
Will you begin to do those things but then stop once you get a client that takes up your time?
This is the cycle. You work hard to gain new clients and once you do, you fall behind on your networking. You’re constantly playing catch up in one aspect of your business. It’s easy to fall into this trap.
Sales and growth must be a constant part of your business whether you want to grow into a huge corporation or just stay small but in good standing. When you have few open projects, you may be more inclined to begin with sales, but once you gain a few, you must continue to do sales. When those projects end, you'll be happy that you have a pipeline of deals behind them.
This approach also helps to “future proof” your business. Who will want to buy or inherit a business that relies solely on the owners network for new growth? Focus on what you do best instead of trying to wear too many hats.
Keep pushing forward even when you don't feel the immediate pain or pressure. Yes, time is money, so make sure you are using it wisely.