Taking a break after a six-figure week

I’m sitting back and celebrating after my best week ever — easily six figures in booked income. Not revenue, but income (I’ve shared with you my bad weeks, so indulge me as I share the good ones).

The vast majority of this income has come from business relationships that I’ve cultivated for a long time through a conscious effort to build trust, credibility, and value.

There’s no silver bullet there — just hard work, delivering on promises, investing in high-potential relationships, identifying things I can do to help, and gradually becoming the advisor of choice.

Traditional marketing gets you in the door, at best. The real money in professional services comes from developing strong long-term relationships with high-potential clients and referral sources. You don’t get rich on the first assignment, but on a string of assignments that come from delighted clients and loyal referral sources.

Free book: Jump Start HTML5 Basics

Grab a free copy of one our latest ebooks! Packed with hints and tips on HTML5's most powerful new features.

  • Jake

    Congrats! Just don’t forget us little guys (i.e. 16 y/o that loves reading these site point blogs :-)

    Thanks for all of your tips and advice!

  • http://www.lit.org Crowe

    Good for you! I hate you, but good for you! ;)

  • http://www.SitePoint.com Matt Mickiewicz

    Out of curiosity, what’s your typical profit margin, after all is said and done at the end of a project?

  • http://www.uw5.co.uk PeterW

    Excellent. I have just secured my largest (software) development contract but as part of the ‘non-competitivity’ clause I have agreed to not develop anything similar for anyone else for three years. However, there appears to be potential for developing a good long term relationship with the client (and good references/referrals). Can you offer any tips?

  • http://www.waterfallweb.net/ RockyShark

    LOL… I’m with Crowe!

  • JMorrow

    Congratulations, Andrew. I’m glad the hard work has paid off.

  • http://www.dvd-software.info hurricane_sh

    That’s amazing, congrats!

  • aneitlich

    Matt,

    My profit margin is typically 95-100%. It’s all money to me since my current projects don’t include subcontractors. Marketing costs are nil for these projects as they are referral-based.

    On books, profit margin is more like 85% for hard copy and 100% for ebook. But it costs me $2 in marketing to get $5-$7 in sales, so factor that in, too. (Books sales were a tiny portion of the revenue/income numbers noted above).

    Andrew

  • picasso-trigger

    exactly what do you do?

  • aneitlich

    Picasso-trigger:

    I do three things:

    - Web development/online publishing of licensed content

    - Management consulting/marketing strategy for IT service firms and emerging technology firms

    - Management consulting for complex organizations, typically virtual organizations of scientists, academics, etc.

    Andrew

  • Well Done!

    Good one mate *pat on the back*

    I hope that you get more deals like that !

    David

  • Dorsey

    It sounds as if all that good work you did early on to establish solid business contacts is paying off for you. As a sole practioner, you get to reap the most rewards, but sooner or later you may find that your time is more valuable when you sell than when you deliver. If and when that time comes, please pass some of that gravy on to the rest of us.

    Congratulations.

  • toograffic

    I’ve had 6-figure weeks, but you’re probably not talking about golf scores, are you?

    By the way, didn’t you know the economy sucks and there’s no money out there to be made? That is, unless you are willing to put in the time and effort necessary to make it, as you obviously do! Well done, and thanks for sharing your knowledge!

  • http://nathanwwong.com someonewhois

    6 FIGURE IN A WEEK?! God! Congratulations.

  • niardica

    Very nice! Good Job!

  • http://www.payperclickadvertising.info ozgression

    Nice work…

  • http://www.hypertextdesign.co.uk kajax101

    How do you think your business school education has benefited you in your business life today?

  • ImJohnGalt

    I’m assuming that this is income booked for a great many weeks’ work, that you happened to invoice in a single week. If this is for one week worth of work, I’d seriously like to see an ROI from the companies for whom you did the work.

    Not begrudging you your income, but as a consumer of consulting services, and once a professional management consultant myself, in my opinion nobody is worth 6-figures a week. A firm could hire a seasoned executive for a full year for that much. How much billable time does your income represent?

    That said, as someone who is writing this from their office (I’m a small business owner myself) at 2:00 AM in the morning, I congratulate you on your success.