What to Do When You Need Cash Now as a Consultant

Ideally, you begin consulting with a nest egg already in place, so that you are not instantly betting the farm on this new way of life for yourself. But some people like to live dangerously. In a post for the Institute of Management Consultants USA, Mark Haas makes some quick recommendations for how to proceed when you need to generate revenue as a consultant right away.

Cash Now

If you are a consultant, you must have some edge that makes what you do uniquely valuable. Now is the time to emphasize that uniqueness more than ever. One thing you can do is put together a seminar on a fresh topic in your field and look for a sponsor to host it, pay a one-time development fee, and a fee for presenting it (and probably share the rights to the intellectual property of the seminar with you). Another thing you can do is reach out to your most desirable prospects and make a work offer of “satisfaction guaranteed or it’s free” to them. (Of course, the work had better be good then.)

Or lastly, you could do this:

Go to your largest prospect(s) (or industry association) and offer to do a study/analysis for them, one that they would find valuable and offer to do it at whatever they would be willing to pay. Don’t negotiate. Get them to agree the study/analysis might be valuable and show them why you are uniquely qualified to do this and that the fee can’t be a problem since they will set it.

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