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Million Dollar Consulting: The Professional's Guide to Growing a Practice Paperback – Nov 1997

4.5 out of 5 stars 26 customer reviews

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Product Details

  • Paperback: 292 pages
  • Publisher: Mcgraw-Hill; 2nd Revised edition edition (November 1997)
  • Language: English
  • ISBN-10: 0070696284
  • ISBN-13: 978-0070696280
  • Product Dimensions: 28.1 x 13.8 x 2.1 cm
  • Shipping Weight: 363 g
  • Average Customer Review: 4.5 out of 5 stars 26 customer reviews
  • Amazon Bestsellers Rank: #167,688 in Books (See Top 100 in Books)
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Product Description

From the Back Cover

Name Your Own Price In Today's Wide-Open Market! Are you still running your consulting business on a shoestring while giving your clients advice worth millions? It's time you got paid what you're really worth! This updated edition of the best-selling guide will show you how to market and develop your business into one that generates $1,000,000 or more annually. A classic that has helped thousands of consultants build their businesses and their incomes, it's how revised and updated to help you grab the amazing new opportunities in this era of corporate downsizing. From setting fees to hiring staff to winning over new clients and obtaining capital, Million dollar Consulting shows you how to develop a lucrative consulting business. You'll find practical, proven advice on how to: Target, land, and keep the kinds of powerful clients every consultant dreams of; Emply the most davantageious and lucrative bases for establishing fees (and the most persuasive arguments for telling a client you're raising them); Increase marketing and sales opportunities by integrating new technology into your business-including the savvy use of e-mail, computer-generated graphics, an effective web site on the Internet, and more; Establish your firm's image, intensify its profile, and make yourself a star through the use of promotion and publicity, networks and affiliations, and the speaking circuit.

Customer Reviews

4.5 out of 5 stars
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Top Customer Reviews

By A Customer on Jan. 17 2002
Format: Paperback
My income keeps increasing by the day... This is one of the most powerful books I have ever read in my life.I bought this book over 2 years ago, I read it and then reread it over and over using it like a text book and I still refer to it often. The first year after I bought it I spent changing my attitude about myself, my clients and the way I perceived my client relationships and the 2nd year I spent creating the systems, processes & marketing to mushroom my business. This book has literally changed my life. I am no longer a slave to my clients but a master and they love it!Turned my business into a full consulting business with turnover growth exceeding all expectations enabling business premises purchase and multidimensional growth, including the creation of several new related companies.
If you do decide you want to be a serious consultant then there are plenty of hard decisions to make and tough calls but it's definately worth it. I find it a pleasure to abandon the low end of my business (even though it is sometimes painful) because it frees up more time for me to develop deeper relationships with my top clients so I can help them to achieve more of their goals and in turn this helps to achieve more of my own goals. I'm not at a million /year yet but I will reach a million / year next year and I'm loving every day in my business! My business is attracting lots of potential additional consultants and of course Alan has this covered too as there is a chapter on the topic of acquiring people in this book too. Alan obviously practices what he preaches because he really has thought of everything that you will encounter on your way to consulting success. Every consultant should own this book! Read it, breathe it, live it, sleep it and give yourself a quantam growth in income!
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Format: Paperback
To begin with you have to start with the title of the book so you understand where in the business cycle it applies. This is about growing a consulting practice and not about starting one. It assumes that you already have an established practice that you now want to expand. There is almost nothing in here related to the initial marketing and starting a new business.
The book also concentrates on the needs of small firms in terms of the number of employees and owners. This is not the book for a large consulting company although many of the principles can be applied to such companies.
Okay, now that that is out of the way, if you are wanting to grow a consulting business then this is a great book. It carefully goes through the most common mistakes that consultants make and how those mistakes keep their business from growing. The suggestions are strong, time tested and very valuable. I completed a Master's Degree in business and the items in this book were more valuable then the entire five years of college.
Does it work? My company grew until it became a target for merger with a competitor. Then we started a new division and are using the same techniques for it to grow and it is growing faster than anyone expected.
When it comes to proposals I prefer the much more in depth book by Tom Sant on Proposal Writing but this one still does a good job in that area. This is a great book for the already established consultant who just can't seem to get to that next step.
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By A Customer on May 24 2001
Format: Paperback
I enjoyed this book. As other reviewers have pointed out, a lot of
the advice given is just good ol' common sense for the professional
service provider in general (I can easily see some of the tips given
here being used by lawyers, accountants, etc to sell their services to
business). Plus, the idea of moving from hour-based billing to
value-based billing is invaluable. As a sole practioner, you can only
bill so many hours a day... but if you can add value and charge for
the value added... "ah, there's the rub." Alan Weiss here
provides a clear sense of the mechanics and operation of your typical
small professional services firm, with a well-written emphasis on
customer retention and relationship marketing.

Weiss gives no advice on growing a
practice into an organization that will outlive its founders. There
is only advice on improving your personal bottom line. In fact, after
reading it, I realize Weiss's formula for making a million is simple:
generate business revenues in excess of a million and keep expenses as
low as possible so that you can pocket the rest as dividends and/or
salary. That works fine for the individual practioner S corp / sole
proprietor, but what if you are already in the consulting business and
you are looking for ways to grow, add new services, increase firm
reputation, or otherwise move away from the lone wolf image? Taking a
million in dividends out of your practice each year doesn't leave much
for growth or future investment. What Weiss doesn't tell you is that
consulting (as opposed to public speaking, a distinction Weiss
sometimes forgets) is subject to economies of scale.
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Format: Paperback
I guess the book can be summarised as having one underlying strategy of becoming a million dollar consultant, with many tactics in order to get there. Relationship selling is one tactic that is explained in depth because it is so different to the way most people sell. Value pricing is the other main tactic in obtaining this status. This books touches on so many aspects of consulting it is difficult to summarise everything. If you want to know how to start a new consulting business, how to set up an office, what equipment you should buy, how to market yourself, which groups you should join, how to work with and recruit sub-contractors, how to allocated project revenue between sub-contractors, planning, down to some ethical decisions, the book covers them all. If you want to become a well known speaker, writer or well know industry expert, this book discusses the tactics to get there. The one thing this book does not do, is tell you it is easy. To achieve these goals, takes dedication and persistence even during the tough times. What do you do when you are down to your last few dollars? Sell the furniture? No, there are even tactics to deal with this situation. I would recommend this book to all consultants and sales people. The consultants will get the most out of the book, and the sales people will learn a lot about relationship selling that is sadly lacking in most of the sales people I know.
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