A Jack Welch Mental Model For Consulting Growth

Remember Jack Welch? One thing he’s famous for can directly help consultants in their approach to growth.

Welch, the former CEO of General Electric (GE), was one of the most successful CEOs of all time. He took the multinational conglomerate from $26B in revenues in 1981 to $130B in 2000.

Within three months of becoming CEO, Welch set a goal for each business unit in GE: to be #1 or #2 in their markets. If not, they had to be fixed, sold, or closed.

I find this is a useful way to think about our businesses, even if they’re small. In whichever markets you compete in, aspire to be #1 or #2 in terms of visibility and impact.

Consulting firms usually fly under the radar and depend on referrals. They often wait for business to come to them and don’t venture out to create a recognizable brand. They lose out on so many opportunities just by staying passive.

But what if you executed a plan to be the #1 or #2 most visible and impactful brand in your niche consulting market?

Being among the top brands can give you a disproportionate advantage, especially in an online world that’s ruled by algorithms and where information travels fast. You see this in the SEO and social networking worlds where the very top brands get the most conversions.

If you’re not yet visible and recognizable in your market, then start small and expand gradually. There’s no excuse for not sharing your knowledge, creating communities, building an audience and distributing content far and wide. If it’s not a part of your game plan, someone else in your niche is likely going to do it and put you at a massive disadvantage in the long run.

Ready to add $100k-$500k revenue to your consulting business in 12 months or less without burning out? Schedule a call and let me show you how.

Image credit: Jefferson Public Radio