The $500K Independent Consulting Business Model | Ep. 289

For a lot of independent consultants, $500K feels out of reach. Or it feels like the wrong goal, because you assume it'll mean longer hours, less time off, and a consulting business you can't sustain. For other independent consultants, $500K is just normal. Some of them get there working about 25 hours a week. In Episode 289, Melisa Liberman breaks down the six components that independent consultants earning $500K a year have in common. She explains why she has you plan for $600K when your goal is $500K, and what a swim coach's story about missing a qualifying time by 0.01 seconds has to do with it. She shares one four-month project that created $9.35 million in client value, and why a $500K consulting business has to create value on that scale. You'll learn why you don't need to be the best-known name in your field to have enough opportunities in your pipeline to be selective. Melisa also explains why so many independent consultants still see themselves as the earner they were in corporate, and how that keeps their revenue right where it was.  Plus, you'll hear the actual beliefs of $500K earners: "500K is not exceptional." "More revenue does not have to mean more work." "I don't need the whole market." And why some consultants who reach $500K slide right back. If you've been telling yourself $500K isn't for you, listen to this one before you decide. Timestamps for Key Moments: [00:28] Why $500K doesn't have to mean more hours [05:29] The 0.01 second lesson for your revenue goal [09:27] The client value number behind a $500K business [15:00] How to become sought after in your circle [17:20] What happens to your identity after corporate [21:41] What $500K earners believe, and why some slide back [26:25] The kind of action $500K earners take  Resources Mentioned: Full Show Notes: https://shownotes.melisaliberman.com/episode-289 Companion Resource: Grow Your Consulting Business Book and Toolkit. Download free at melisabook.com or consultingbusinessbook.com, or buy on Amazon. Mentioned in this Episode: Episode 87 - Risk-Free Pricing Strategy for the Independent Consultant: https://shownotes.melisaliberman.com/episode-87/  Mentioned in this Episode: Episode 213 - Four Components to Create 50K Months: https://shownotes.melisaliberman.com/episode-213/  Want More? Melisa's Books, Planners & Journals: https://linktr.ee/melisaliberman Get Melisa's Book: https://www.melisaliberman.com/book Visit Melisa's Website: https://www.melisaliberman.com/ Follow on LinkedIn: https://www.linkedin.com/in/melisa-liberman Want help achieving your consulting business goals? Melisa can help. Click here for more on coaching tailored to you as an independent consulting business owner.