I had this note in my inbox this morning, so I thought it’d be a good time to send an update on where I’m at with building this consultancy toward a million dollars.
Do I think I’ll hit 1M by the end of this year?
No.
My goal is to grow this consultancy, and I believe it will earn 1M in revenue around year 3-5. I can see the momentum building, and if I stay consistent and put the right things into place I’ll meet that goal.
If I’m not there yet, where am I?
Buyer Persona Projects: 4- I’ve done every aspect of all four of these. That’s over 100 customer interviews, 6 surveys, and tons of hours social listening and digital intelligence mining. This isn’t scalable doing it alone, so I’m hiring contractors to help with the interviews and eventually the digital intelligence analysis.
Rates- I’ve increased the buyer persona rate significantly this year, and I know it will continue to increase to meet the market threshold. It started at $5,500ish in January and it’s now $22,350. I believe it’s final value could be between $30,000-$40,000, but I’ll keep testing to make sure.
Content strategy is still my “bread and butter” and that’s ok by me! Best Buyer Persona is only 6 months old. It’s still a baby startup with so much potential. I’ve just begun, and that’s the beauty of this newsletter. I’m sharing as I build, not after the fact.
Things I’ve learned so far:
My process is solid.
I’ve worked with small B2C ecommerce brands and large VC backed tech companies. Regardless of the product, the audience, or the internal team, Best Buyer Persona’s process is clearly defined and helps to instill confidence in me as the provider and in my clients.
I need to get a lawyer.
When you’re dealing with sensitive data and information from large enterprise companies, NDA’s and contracts become crucial and are imperative to the client’s security. I’ve managed to negotiate terms, but the larger the company the more complex the contract. A lawyer will help ensure I don’t get myself and the company into any trouble.
Podcasts are a great way to market my business.
Solid leads have come from the SaaS Club podcast, so I need to reach out and do more of those. On my wishlist is Dave Gherhardt’s podcast and Corey Haines’. Now to just get up the courage to reach out.
I’m looking forward to 2021! Thanks so much for your support. It means the world to me. :)
Mid Year Update
Thanks for the update. Rooting for you!
Love the bullish price experimentation on Buyer Personas. Customers will pay far more for these strategic engagements than we initially realize. A huge part of that is discovering the benefits that showcase your value using their words.
On contracts, I’m adamant about owning my research and licensing it to customers on generous terms. Not sure how that translates for your services though.
Happy to chat again at some point.