Keep separate progress for different goals, roles, or time horizons.
The path ahead
Starting a consulting practice requires more than just expertise—it requires clear contracts, smart pricing, and financial planning from day one.
This path walks you through all the business fundamentals: from building your financial model and setting pricing, to creating airtight service agreements and securing recurring revenue through retainers.
Step 1 of 6 · 3-4 hours
Step 1: Plan Your Finances
3-year P&L projection and cash flow forecast for your consulting business.
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Coach's Perspective
Account for taxes, benefits, and days off when calculating your effective hourly rate. Most consultants underestimate expenses—include software subscriptions, insurance, and marketing.
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Coach's Perspective
Price based on value delivered, not hours worked. Research what competitors charge for similar work. Don't compete on price alone—differentiate on expertise, reliability, or results.
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Coach's Perspective
Get a lawyer to review your templates—$500 upfront saves you thousands in disputes. Include payment terms (Net 30 is standard), scope limitations, and what happens if a project goes over budget.
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Coach's Perspective
Use mutual NDAs (protects both sides)—it shows professionalism and fairness. Keep signed copies for 3+ years. Be clear about what's confidential and what's not (e.g., general methodologies stay yours).
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Coach's Perspective
Make deliverables specific and measurable. Vague promises lead to scope creep. Include a timeline, payment schedule, and what triggers a change order. Send proposals within 24 hours of discovery calls.
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Coach's Perspective
Build retainers around 10-15 hours/month of billable work—clients understand recurring costs, and you get predictable revenue. Include an annual review to adjust scope and pricing as needs change.