My winning strategy
My strategy to reinvent myself every 18 months when I started my training and consulting practice had worked tremendously well.
And this is next phase of my re-invention, I’m going to need a new mind-set, skill-set, and toolset.
18 months of revenue
When I started my training and consulting firm, I made it a point to book up to 18 months worth of revenue within the first three months of every year. This allowed me to focus on two things:
- Fulfilling clients’ orders
- Re-invent myself
As a consultant, I need to constantly re-invent myself and stay ahead of the game so I will always be relevant.
And this strategy worked tremendously well.
Within the first three years of our operations, we’ve achieved these milestones:
- Reach: worked with more than 50% of schools in Singapore
- Reputation: nearly all new contracts were either from repeat customers or referrals
- Revenue: 6-figure income.
While we were successful, as consultants, we usually have to be physically present to complete the fulfillment of our clients’ order. That means we are basically trading time for money!
Today’s business environment is clearly very different from ten years ago, when I first started.
As such, I really need a new mind-set, skill-set, as well as tool-set in order to excel. Let’s look at each of these sets in turn.
Instead of trading time for money, the new mind-set requires that I use time to create assets. However, as consultants we don’t have buildings or machine. We have computers and cellphones but these are not really our assets.
The assets of a consultant are their reputation and their knowledge. For me, I’ve built a reputation as a design thinking consultant but I am still building my reputation as a vlogger.
What I must do now is to demonstrate my capability by vlogging daily as well as to help others who want to get started on vlogging.
In the conventional way of doing business, you are competing with others in the same geographical area. However, on the Internet, you are competing with everyone.
New tools are needed to create and deliver the content using the Internet. For instance, with the rise of videos, we certainly need to ensure that we are familiar and competent in using the tools necessary to create and deliver the content.
No matter what industry you are in, especially in today’s business environment, it is critical that you re-invent yourself instead of allowing the competition to do it for you.
Are you ready?