Is it time for you to invest in others? This could be quite a good question to ask yourself if you find that your general business life seems a little more gray than it used to. Sometimes when we enter into our more mature years, the idea of the entrepreneurial lifestyle is not as intoxicating as it once was. It might be that you’d worked a relatively high level position for some time, and feel that it’s time to move onto pastures new. However, some people leaving one firm with all the accumulated knowledge might not find it worthwhile moving to another firm and emulating the rat race there, especially when similarly paid roles might require learning plenty about the new environment before they get started.
For others, it might be that the intensive interest of working in their field for some time might have given them a certain amount of pet peeves within the industry. In the interest of improving these, it’s not uncommon for qualified individuals to try and correct those wrongs and act as a form of tutor for new businesses. Investing in others can be very worthwhile through this frame, and here’s how would be best to go about doing so:
Craft Your Consulting Brand
It’s important to have a stock, reputable firm that can profit from your efforts here. A consulting brand often requires some verified qualified referrals, proof of your experience in the industry and the willingness to build clients anew. If possible, utilizing your knowledge or even a testimonial from the firm you used to work in can be instrumental into drumming up initial business. A great way of doing this is to provide a form of free informational digest online. This might be through YouTube videos, a blog that incorporates SEO marketing, or many other digital social media help platforms.
What matters is that you do gatekeep your best work, and allow for a premium resource of one to one consulting to be the major business activity you partake in. When you have the self-confidence to do this, it’s likely that your portfolio will increase. But how should you profit from this? Well:
Investing in others is not always done out of the goodness of your heart. After all, we are all bound to limited resources, and the inability to break even or profit will often mean that your operation ends rather quickly. This would be a tragedy for the accumulated and excellent knowledge you could bestow unto a willing recipient. We’d recommend that you navigate an hourly figure for your consulting, or you lead on a case by case, project by project basis. Another great way of moving forward could be to add a subscription based model for certain luxury packages. This might mean that an informational digest in the form of monthly documentation could be distributed if they subscribe to the bronze tier, or diamond tier guarantees a personal visit and audit from you. It could be you simply require a percentage of the business, no matter how small. Whatever you choose to do in the pursuit of monetizing your offering, be sure that it’s fair, affordable for firms, and that the information and guidance you give will ensure repeat business and a growth in your portfolio.
Investing in others is not a simply exercise of charity. You hope that it will be financially worth the effort in a matter of months or years, and if not you will consider the effort to be financial redundant. However, there are methods to improve your success. Utilizing your old resources you might be able to bring the business into the fold. After all, the vested interest you have will warrant this. This could mean introducing these businesses to other firms that could precipitate their success.
It might mean calling in favors built from a lifetime career, or putting your full weight behind a business that is growing. While the business might not be yours to own, utilizing your help could potentially nestle you a great spot when hope to elevate your platform. There are no rules as to why you can’t artificially bring a business up through the channels you have crafted, so long as everything takes place legally. When you do this, the long term profitability and effort in investing are both greatly rewarded with success that could be hard to fully measure.
If you feel that it’s time to invest in others, doing so with the previously listed tips could gift you a great deal of platform building, and this could benefit you in the long term.