Some clients want the bare minimum of support from your consulting firm, which can be frustrating for you since big revenue follows big projects. By introducing more DFY/DIY combinations into your suite of offerings, you may open up lucrative new revenue streams for your consulting firm.
Let’s say that you’re lining up a celebratory dinner. Woo hoo! Should you reserve tables at a Michelin-star restaurant, cook for the gala yourself or, perhaps, invite your guests to bring their own food. (Is pot luck still a thing?)
The answer depends on quite a few variables.
Is your bash a wedding reception or a backyard barbecue? Are you an epicurean or ascetic? Are you an accomplished chef or do you burn water? Are you rolling in dough or rolling in, well, dough?
Carla Cannoli, your local restaurateur, endorses a tasting menu at her swanky eatery. She’s appalled at the prospect of your self-hosting virtually any affair.
You could ask Carla to set aside the ingredients and recipes for her best dishes so that you could prepare the meal yourself at home; however, she’s more likely to pepper you with insults than turn over her pastry secrets.
Dinner in Carla’s restaurant is a done-for-you (DFY) experience. In her mind, a home-cooked, do-it-yourself (DIY) soiree threatens her business.
However, by thinking of DFY and DIY as opposing, competing approaches, Carla is missing the
There’s an entire industry now of combination DFY/DIY food. For instance, you can purchase pre-packaged meal ingredients that you assemble and cook yourself. They’re less expensive, less sophisticated and less tasty than dinner out at the finest restaurants. They’re also less work, less hassle and (if you’re an average cook) less risky than searching for odd ingredients and attempting to construct a fancy meal yourself.
Your consulting firm is a DFY business. You make your money providing consulting services, not books or products or prepackaged gougères.
As a result, prospective clients who suggest a primarily-DIY project can be frustrating for you. Like Carla, you’re apt to characterize those prospects as not worth your consulting firm’s time and, perhaps, mildly insulting.
Of course, you can attempt to dissuade those prospects from their ill-advised, DIY approach. In fact, I provide guidance to help you combat DIY thinkers in this article.
There’s yet another tack for your consulting firm to consider: a new, combination DFY/DIY offering.
What could your consulting firm offer that fits the following three requirements?
- Less comprehensive than your current, full-bore DFY consulting services,
- Reasonable revenue and high margin to your consulting firm
- Compelling benefits and price point for DIY-minded prospects
In other words, what offering fits between the book you wrote (totally DIY) and your current consulting services (mostly DFY)?
What is your consulting firm’s equivalent of gourmet, prepare-at-home meals? (And, of course, is there a substantial market opportunity for a DFY/DIY combination?)
For example, instead of recommending your consulting firm’s standard, 12-week strategy project, could you can propose a three-week strategy boot camp that equips your client with the tools and guidance they need to tackle their strategic challenge?
This may be less powerful and profitable than your typical project, yet much better for you and your client than settling for an ineffective, low-fee, one-day workshop.
Or, if your consulting firm typically provides a premium, hands-on advisory service, perhaps you can offer an outstanding, two-day program that enables a cohort of clients to make significant progress under their own steam. (e.g., this program for Solo consultants.)
Whatever your consulting firm’s focus, you currently deliver a DFY service and you undoubtedly receive DIY-oriented requests from prospects that you walk away from or meet begrudgingly.
If you assemble a new DFY/DIY consulting package that you enjoy delivering and is compelling to DIY-inclined clients, you could enjoy a healthy new revenue stream for your consulting firm.
What do you offer as DFY now that possibly could be repackaged as a combo DFY/DIY engagement?
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