A daily email about monetizing your corporate expertise. Give me ~1 minute a day, and I'll help you turn what you know into your most differentiated and lucrative asset.
So, you’re thinking about taking on a project or client outside of your core niche or specialty… This is 100% your call. Remember, we left corporate precisely for this type of control over how we deploy ourselves. But these decisions can often be made in haste, either due to an urgent client need (good!) or our own cash flow concerns (not so good). To serve as a guide to assessing stray opportunities, I offer The CZAR Test. Besides, among the many hats you wear as a soloist, one of the most critical is deployment czar. Cash Are you being compensated for a detour? Cash flow is likely what has you teetering towards a stray opportunity in the first place. Of course, cash in the door is always appealing, particularly if it’s been a slow quarter… But make sure you’re being compensated for straying from your focus. Set a threshold ahead of time for the premium you require. e.g. 2x your typical effective hourly rate. It’s not greedy, it’s an intentional price to account for taking you out of your… Zone Does this project take you out of your ‘genius zone’? Your genius zone is that sweet spot where the work required taps into your natural strengths. Time disappears and your enter flow state easily. When you accept work outside of this zone, there’s a quick drop-off of efficiency, enjoyment, and profitability. Acceleration Can this project accelerate your ability to serve your niche? Even if a bit unconventional to your current portfolio, will this work deepen your domain expertise? Tap you into a gated network? Build credibility and authority? Remember, there is no neutral. If you’re not accelerating in serving your niche, you’re slowing down. Repeatability Can you imagine taking at least 2 other similar projects in the next 12 months? Few things within our control can slow down a specialized solo practice more than a one-off. Even calling it a one-off sounds like a simple detour… But it represents a new context, a new learning curve, perhaps new skills to develop…the list goes on. None of those things are inherently bad…as long as you’ll use them again in the future. If not, the opportunity reduces to a simple financial transaction -- in which case, revisit the "Cash" step above. So, does this all feel like a high bar to clear? Honestly, it should. The overarching remit as the owner of a solo consulting business is to deploy your scarce resource (your expertise) in the most efficient way possible. That means being selective about your work. And when it’s not a match, politely saying, “No, thanks.” 💡 -Wes P.S. Need to narrow your focus and finally find your niche? I offer a 1:1 NicheFinder sprint, as well as free consultations. |
A daily email about monetizing your corporate expertise. Give me ~1 minute a day, and I'll help you turn what you know into your most differentiated and lucrative asset.