I have been a proactive LinkedIn business growth consultant for many years and have delivered my consultancy services and LinkedIn training to business owner and C-level executive clients in 44 countries.
I’ve also attended various residential and online LinkedIn training events run by some of the self-appointed LinkedIn gurus and experts.
When I’ve questioned them, not a single one of them has ever earned an annual six figure income from their LinkedIn activities. And yet besides myself, I actually know of several other high income business consultants who have invested the time, effort, energy and finance required to master the LinkedIn platform in order to earn regular six figure incomes.
After publishing my ‘How To Make Money On LinkedIn’ eBook, many consultants contacted me for insider tips, and to provide them with the magic formula for leveraging LinkedIn and joining the upper echelons of High Income Consulting.
There is NO magic formula.
If there was, then 500+ million registered LinkedIn members would be raking in the big bucks.
There are several professional LinkedIn consultancy groups which have anything from a couple of hundred members, right the way up to the Consultants Network Group which has approximately 449,000 LinkedIn members. This is one of the most professional consultancy groups on LinkedIn and because of its professional management it has stood the test of time in a tsunami of recent LinkedIn changes.
Joining the ranks of High Income Consultants is beyond the reach of a very high percentage of business consultants. In many cases the main reason is that they simply don’t know what they don’t know.
So, how do consultants make money on LinkedIn?
In my experience every starts with a change of the consultants mind-set.
There are millions of consultants world-wide and in this fiercely competitive world, too many are deeply concerned by what the majority of business clients will pay, rather than identifying a small number of business clients who really value what the professional consultant offers.
This divides the consultancy industry into two specific groups.
Group 1 – Amateurs
Group 2 – Professionals
I subscribe to the mantra that amateurs practice until they get it right, whereas professionals practice until they can’t get it wrong.
By concentrating on the wider business client market fee/price, you’ll always be an average amateur consultant.
However by switching your mind-set, so that your value is much higher than you think to a small number of mission specific business clients, you will create an increased demand for your professional services. The end result of this new mind-set is that as a professional consultant you don’t need every business owner on the planet to see you as ‘in demand.’ You only need enough business owners who can drive your price or your consultancy fees up.
Once you have managed to get your head around this concept, you then need to address the following three-way forward procedures…
- Turn your full attention to these new business owners who find you highly valuable.
- Serve these valuable new business clients better than any other consultants can.
- Cull and/or turn away clients that fail to meet your new consultancy client criteria.
This is the basic foundation stone for how professional consultants can make money on LinkedIn.
This does not mean that amateur, or less experienced business consultants are excluded from making money on LinkedIn. Because they are not. It just requires a different approach.
As the world’s largest and most professional business to business networking platform, everything and everyone you need to grow your consultancy business and make money exists on LinkedIn.
How can it not be?
When LinkedIn is by definition, the most fertile business hunting ground on planet earth.
For new entry consultants there is a formula for how to make money on LinkedIn.
More connections equals more opportunities and new revenue streams, and these opportunities to make money on LinkedIn multiply exponentially when seized on LinkedIn.
In my experience of running a full-time work force providing business growth services directly attributable to leveraging LinkedIn for business owners you need a large number of new business connections.
However don’t make the fatal mistake of amateurs and sacrifice quality for quantity. Remember you need to identify and connect with business owners who can’t live without you.
Hope this helps. As always I appreciate constructive feedback.
If you want to drill down a bit deeper and learn the inside secrets of how some of the world’s most connected business growth consultants leverage LinkedIn for fresh opportunities, and for new revenue streams then you can purchase my ‘Make Money On Linkedin’ eBook from Amazon: How to Make Money on LinkedIn.
Dr. Mark D. Yates, Managing Director of FBI Consultancy Ltd