The Truth About Internet Marketing Consulting

Since starting the Consulting Tycoon program the one question I get asked all the time is…

“Should I become an Internet marketing consultant?”

Fact is, I can’t really answer that for you.

Sure, I could tell you all about the 6-figure incomes many of our members are making — or whet your appetite with stories about the freedom and lifestyle benefits of being your own boss…

But at the end of the day not everyone is cut out to be a consultant.

And only YOU can decide what’s right for you.

What I can do is let you in on the no-holds-barred truth about my experience being a consultant, then let you decide for yourself if you’ve got what it takes.

Here goes…

Who Shouldn’t Become an Internet Marketing Consultant

Let’s cut right to the chase and kill some fantasies right away.

Consulting is a business just like any other. It takes work. And while you can make a very nice income from day one, if you go into it with money as your only goal then you will fail.

Every successful consultant I’ve known, met, or trained has had a real desire to help small businesses. They work hard at their business and are passionate about helping their clients, and in turn they are rewarded handsomely for their efforts. But it always starts with effort.

Now, when you start a consulting business YOU are in charge.

You decide your own paycheck. You set your own hours. You make all the decisions.

Sounds like a dream come true, right?

Well some people simply can’t handle it. They need someone else to tell them what to do. Either they don’t have the discipline and determination to get things done, or they lack focus and can’t figure out what needs to be done.

But more than anything, consulting is a business built on relationships.

If you don’t like talking to people, are negative, lack self confidence, or still believe you can run a real business hiding behind a monitor then you won’t make it as a consultant.

I don’t mean to sound harsh — and if you’ve got the right attitude then self-confidence can be greatly improved through experience and training (I’ve seen dramatic improvements in many of my students)…

…but I’d be doing you a disservice to make it sound like just anyone can become a successful Internet marketing consultant.

Still interested? Great! Let’s take a look at…

Why You Should Become an Internet Marketing Consultant

If you’ve read this far then chances are you’ve got the potential to become a successful consultant.

(We eliminated everyone else way back when I mentioned “work”.)

What you do with that potential is up to you ;)

Now, I strongly believe consulting is one of the quickest and easiest ways to create a 6-figure business.

What other business allows you to start with virtually nothing and take home $1,000+ checks your very first day? Or $5,500 your first week? Or $12,000 your first month?

(All real-life success stories from my home study course.)

Most people struggle for months (if not years) to make that kind of money from a “traditional” Internet marketing business. Yet newbie consultants are doing it every single day.

How? Because consulting has a couple of built-in advantages that most other work from home businesses simply don’t have…

Advantage #1 – You Have A Starving Crowd

Last time I looked at the stats (early last year) there were 24.7 million small businesses in the US, 4.3 million in the UK, and 1.2 million in Australia.

Obviously not all of them are potential clients, but even if the true number of prospects for your business was just 1% of that you’d still have thousands of potential clients eager to work with you.

And with so few Internet marketing consultants around the world — my numbers show just a few thousand people doing this in any serious way — there is still plenty of opportunity to dominate your local market.

Advantage #2 – You Get Massive Leverage

The problem with most “Internet” businesses — I’m mainly talking about affiliate marketing and information products here — is that you’ve got limited leverage.

For many people, blood, sweat and tears are all they have to invest in their business.

And it’s hard to get any traction when you can’t even pay your bills, let alone re-invest money in the business.

But with consulting you can leverage the assets of a business that is already doing $500,000… $1,000,000… even $10,000,000 in sales and get exponential returns on your efforts.

Advantage #3 – You Need Fairly Minimal Skills

It almost defies logic, but you don’t need to be a technical wizard, SEO master or marketing guru.

Most people in my program had limited skills when they started and either learned what they needed to along the way, or simply outsourced the work.

You see, local business marketing is still in it’s infancy, and in most markets the competition is quite limited.

You can get impressive search engine rankings with a simple WordPress blog and make a BIG difference to a business’ bottom line just by setting up an opt-in form on their website.

Advantage #4 – You Decide What You Offer

There are no rules in the consulting business so you can pick and choose the services you want to offer based on your own skills and experience.

Some people choose to offer a full range of services, while others choose to just setup autoresponders (a 6-figure business all in itself), build websites, write articles, or even write sales copy.

By limiting what you offer — and there are huge markets for all of these services — you dramatically shorten your learning curve and time to market.

Advantage #5 – You Get Paid For Results

One of the key strategies I teach my students is value-based/results-based consulting.

You get paid not only on the value you provide to your clients, but also on the results you produce for them.

When you combine the massive leverage effect of working with a 6, 7 or 8 figure business with performance-based service fees amazing things start to happen ;)

The Bottom Line

The truth is consulting is not a walk in the park.

It’s a real business — with real customers, real work and real problems.

And many people are simply not cut out for it.

However, for the right person there are a LOT of advantages and if you’re willing to put the work in and stick with it then the rewards can be bigger and come faster than you can imagine.

If you think consulting could be the business for you then I invite you to sign up to the newsletter, read our success stories and take a look at the various program we offer.

If you’ve got any questions or need advice on getting started please leave a comment below and I’ll see what I can do to help you out.

  • Jim

    Hey Kyle,

    What about people whose local market is very small, so that they have to go out of state–far enough to preclude face-to-face contact, which I understand is very important if you want to get business. Could someone make a go of it by non-face-to-face marketing–like using online marketing, skype, etc.?

  • David

    Hello Kyle,
    thank you for sending the information. It sounds to be written from solid understanding. It’s with keen interest I look forward to future updates.
    Regards,
    David.

  • Kyle

    @Jim – Great question. You’re right, nothing beats face-to-face communication for quickly building rapport, cementing relationships, and closing deals.

    Believe it or not, in the last 10 years I’ve only met 4 or 5 of my clients in person. I do all my prospecting via direct mail, referrals, and now the Internet. And I do virtually all my consulting on the phone or Skype. So you can definitely make a go of it without face-to-face interaction.

    In fact, once you’ve got a client-getting system in place I think in many ways it’s easier to do everything by phone — the small negative of having to build relationships by phone is far outweighed by the positives of less travel time, less time in meetings, and more time spent getting things done.

    @David – Thanks for reading! Look forward to seeing you around in the future.

    Cheers
    Kyle

  • Jim

    Thanks for the great reply, Kyle! Can you mention what would be the most effective ways to prospect out of state–or out of country? You mention direct mail–does that mean you buy lists? You also mention the internet. Do you have a preferred avenue there? PPC? Articles?
    SEO? Social Marketing?

    Thanks again,

    Jim

  • Kyle

    No problem Jim.

    Direct mail has been by far my most effective prospecting tool. (Followed by referrals.) Once you get a letter that works you just keep mailing it out and keep getting clients.

    But I don’t buy lists for these campaigns, they are compiled from various places such as the Yellow Pages, magazines, trade journals and Manta.com etc.

    The trick is to go after a carefully defined type of prospect and make them an offer they can’t refuse — you want to user a laser not a shotgun ;)

    Online I’ve had excellent results with PPC, and more recently social media. I’ve not done anything with articles or SEO for my consulting business, simply because my direct mail and referral systems have kept me busy.

    Cheers
    Kyle

  • http://www.thedotcomdentist.com The Dot-Com Dentist

    Most people harp about the profit potential offline.. And while it’s true, most people get discouraged when they realize they actually need to TALK to people. For some reason, most IMers have this desire to make money without having to interact with anybody.. But with this blog post, you’re clearly not targeting those people. Great post Kyle, I’m adding your blog to my feed reader!

  • Jim

    Thanks so much, Kyle. I’ve been ill, so this thank you note is late, but your reply is much appreciated.

  • http://www.speedonlinewealth.com/blog Lillea Woodlyns

    It’s good to know that people who live in remote areas have a shot at this because that’s my situation. The phone, skype, mail – I can certainly do all of those things, and it can be enjoyable. I can see how it makes a difference when you call the shots from the beginning – choose the clients you want to take on and help, not just take anyone on because you feel you have to. I have no problem telling myself what to do – in fact, it’s much better that way :)

  • http://www.xsiteprodesigns.com Andrea Wilson

    Hi, Kyle,

    I run a successful consulting business building templates for XSitePro users. As such, 95% of my clients are Internet marketers (from complete newbies right on up to successful IM’s). I have never met most of them as they are all over the world. Face-to-face is fun, but it’s also more time-consuming than a phone/Skype call, so even with local clients I often do it all over the phone and via email. I just built XSitePro Web sites for two local charities and I haven’t met any of the people involved even though they live right in my own neighbourhood! I also build Dreamweaver Web sites and I conduct that side of my business almost entirely via phone and email, as well. I just wanted to reassure everyone that face-to-face consulting is not at all necessary.

  • http://seowebsitepromotion.net Joy

    Yeah, I think it has a lot to do with mindset. If you are prepared just to give it a go and take action no matter what stage you are at, it will eventually get you there. The great thing is, it is a valuable service and enriches everyone … a true win-win!

  • Jacqlyn

    Hi Kyle

    Thanks for this post. The more I see you or your work, the more I realise you are a straight up type of person. I like that you are up front and give the pros and cons of this type of business. In any business there is work involved. Yet we live in a society that thinks that it should all come our way just because the thought is there. Strategies need to be formulated in any business and then of course action. Without these, you have but merely a dream. Thanks again.

    • Kyle

      Hi Jacqlyn

      Appreciate your comments, I’m just trying to balance out all the hype with some common sense. There IS great money to be made as an Internet marketing consultant, and it does afford you a great lifestyle, people just have to be realistic that it will take some work.

      Cheers
      Kyle

  • http://www.seositemates.com Sandy

    Hi Kyle
    What a great read. It was put to me recently that the knowledge I had developed building an online charitable community was knowledge other not-for-profits would benefit from. While considering all the different ways that this may happen, there was ares of considerable gray in there! So reading this thread and knowing there are coaching possibilities available too has been very valuable. Thank you. Sandy

    • Kyle

      Most people vastly underestimate the value of what they know. We tend to assume (quite wrongly) that “everyone” knows what we know and don’t give ourselves enough credit.

      I was lucky enough to find a mentor early in my consulting career who understood the true value of knowledge. I saw him turn everything he did in his business into a system that was re-purposed in many other ways… sold, licensed, turned into a product etc.

      And I’ve made a point of doing the same thing — I take LOTS of notes on everything I do in my business because I know other people can benefit greatly from it. (That’s how this whole website got started!)

      With the right strategy you could make a small fortune with that knowledge ;)

  • Alison

    This information is really valuable. I believe starting out locally with people who know you and your good reputation is definitely the way to develop confidence and experience. Thanks for your honesty and openness and the warmth that comes across in your presentation.