If we are going to be talking about hunting elephants, meaning higher paying clients or going after bigger opportunities, why do I have a picture of goat yoga? Two reasons. You start with goats or bread and butter clients you see regularly, to build a consultancy practice. Second, this is where art comes together with life. Matthew (my husband), Olivia (our 16-year-old daughter), and I, with some friends, took a goat yoga class at Powderhorn Park in Minneapolis, Friday evening. The picture fits with today’s mentoring conversation.

Outlined below are the 5 of 10 tips for consultants Mickey Mikeworth and I discussed last week. When we were off the mic, Mike Kabeya, Mickey, and I continued talking about the 5 tips and what they mean for Kabeya Media and other consultancies. It was such a meaty conversation I thought it valuable for us to get back on the mics and share our free-flowing conversation with you. Download

Mike shows his vulnerability, and Mickey validates his talent, while asking pointed questions about his business. These questions led to further soul searching and self-discovery. You can be Mike’s witness. 

In business ownership there are many psychological benefits to our work. Maybe it is the love of learning or developing long-term client relationships where you help them improve their lives. Or, you use your talents to bring joy or memories to another’s life. Or, help people heal. Or, help them with their career. Or, improve someone’s smile. Or, help them out of a legal mess. Or, give them an awesome haircut that helps someone feel better about themselves.

We set the prices for our services. “We define our paychecks early on,” says Mickey. How have you adjusted or adapted to years of service and new opportunities? We dig into the good stuff here.

Elephant Hunting challenges. Are you ready to go after higher paying gigs and opportunities?

Here is the $10,000 WOW! Be just as excited about the journey as you are about reaching the goal. Sling your holster on and get a guide. Where do elephants live? How do they spend their time?

Discover where they hang out. You need the right gear to hunt them. You need a plan and need to learn how to track them down. You have to change your game. You need encouragement. You will come home without an elephant. You will learn to succeed or go hungry trying.

Can you keep current clients while you hunt for the elephants? Yes, add the elephants. Access is important. Staying true to your community or what you enjoy doing. Get comfortable with being uncomfortable. You need clear personal goals and precision with daily and weekly activity.

Can clarifying when it is okay to take a risk be a solid solution? This is where mentoring is so beneficial. Listen in to find out.

Warning: no elephants are harmed in this episode. Elephants are just a great analogy for challenging yourself to go after higher stakes clients.

You will laugh along with us, especially at the end. Humor is a great learning tool when you break through to new dimensions in your leadership. You will experience this with Mike.

By the way, goat yoga was fun. There is something grounding about goat hooves walking on your back! I was surprised, hooves don’t hurt. Try it some time.

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Here are Mickey’s five of 10 tips from last week. These are tips to help you create financial prosperity in your consultancy.

Tip #1: Make all the money you need in one day each week.

a. First ticket to success. Lining up the work. Generate all the income you need in one day each week. Do the work to earn your keep. Build the relationships that bring you money.

b. “Loving the game and not the paycheck can be a real problem,” says Mickey. Marrying the two is how you stay in the game of building wealth through business ownership. This means learning the pace at which you must go to be in the game. Figure out how to be in the game! You want you and your clients to win.

c. Do only things that make you money. Money has one purpose: gives you choices. Mickey’s tactical approach will help you do the math to get better results.

Tip #2: Set realistic time lines based on real goals.

a. Manage your timeline. Consider the building phase. All businesses have the same growth pattern. There is a 7-Year Cycle both in your business and in the marketplace. It usually takes longer to build than planned for. For a new consultancy, it takes five years to build a business or 10,000 hours of work, however you carve out the time. You may need more than five years to grow your business if you have less time invested in the building phase. Thereafter, you need to keep innovating every few years.

b. Get good at making money and failing quickly. Give it enough actual fuel, no shortcuts. Move your money maker. It is easier to cashflow if you have the bread and butter income in place.

#3 Bread and Butter Clients: steady, regular clients.

a. Hair Salon example: learn to see your clients more often. Your clients will do better when you see them more often. Cashflow is King but charisma and cashflow are the master!

#4 Evaluate how much time you actually have. Include your natural rhythm of when you shine.

a. Life is complex. Families are complicated. Formulate a real-life equation based on your life-force energy. Know your bio-rhythms and the energy needed to do each task.

b. What are your MAGIC HOURS?

#5 Allocate a percentage of time for each task. We discuss marketing as an example.

a. Invest at least 35% of your time (14-hours/week) getting new clients.

b. How does Social Media factor into the equation? Social Media allows you to have a conversation and contribute your voice into a more global conversation. What are you getting back from your investment of time on social media?

Social Media Image

c. Rule of thumb: MEASURE THE RESULTS! Most consultants generate money from people they know. This could be through collaborations, partnerships, friends, a network of relationships you nurture, etc. What are you getting back from your social media efforts? Hand shake to hand shake is usually what will bring you the most money.
d. Money allows you to take risks.

Mentoring Tips for Listeners

Answer this one big question after you listen: what elephants do you want to hunt next?

F.Y.I. Pride is the gift of striving. You deserve to earn that pride. Find your path. You have more talent than you know.

Let me know the results and the answers to the questions above by leaving a comment at Contact WeMentor.

Math for Consultants: Hunting for Elephants, Episode 127    Mickey Mikeworth   Rich Chicks