Turn Your Experience into a Services Business
Good Morning!
You're not in the wrong place. This is the new Black Belt Startup Newsletter, formerly the Daily Advisor. I have lots in store for you.
On the Mat
- Consultant vs. Service provider
- Four signs YOU should start a services business
- It's a smoothie
Let's Train
Who are Consultants & Service Providers?
Consultants are "brains for hire"—professionals with specialized knowledge who charge clients for access to that expertise.
Service providers deliver a specific skill or service for pay.
Sometimes, these roles overlap. For example, a tax consultant may also offer tax preparation services, or a marketing consultant might provide hands-on campaign execution alongside strategic guidance.
🔎 If you’ve considered turning your skills into a business, now might be the time to explore it.
Should you Start a Services Business?
Launch a services business if:
🥋 YOU have a few years of experience in a specific field: This gives you credibility.
🥋 YOU can perform a specialized job well: Clients are willing to pay for quality results.
🥋 YOU can solve a problem: If your expertise addresses a problem that people are willing to pay for, you have a promising business idea.
🥋 YOU want to make more money: For most jobs, pay is capped.
(Above table: Revenue of top global service businesses in 2023)
Let the numbers talk:
The Bureau of Labor Statistics says the services economy accounts for 70% of the GDP.
"But I'm not an expert."
Here’s the good news: you don’t have to be. You just need to be a few steps ahead of your target audience.
Early clients often have "entry-level" needs and are happy to pay someone who can guide them. Over time, as your expertise deepens, so can your offerings (and your rates).
It's a smoothie.
Starting a services business is about blending:
🍓 Professional experience: Your background builds trust with clients.
🥝 Technical skills: Your ability to perform specific tasks well creates value.
🍌 Soft skills: Communication, empathy, and problem-solving are critical for managing relationships and retaining clients.
You Might Like These
Work Smarter: Selling Time vs. Expertise
In this episode, Russell Pearson breaks it down: contractors sell their time like employees, while consultants sell their expertise and guidance.
It’s a key difference that business owners need to keep in mind when pricing, pitching, and delivering their services, especially when their work blends elements of both consulting and contracting.
Get a Fraction of the Action
According to a Harvard Business Review podcast and article, over 110,000 people call themselves fractional leaders on LinkedIn.
But here’s the catch—demand hasn’t caught up with this fast-growing supply. That means startups might be able to tap into fractional leadership without breaking the bank.
On the flip side, if you’re a fractional leader yourself, finding a way to stand out is more important than ever.
Sharpen Your Blade
How to Turn Your Layoff Into a Massive Opportunity
In this week’s live stream, we’ll cover how you can:
- Build a financial safety net
- Turn your skills into a consulting business
- Land your first paying client!
Let’s turn a layoff into a breakthrough. ⛓️💥
The Ultimate Pricing Guide for Consulting Businesses in 2025
Wondering how to price your service?
In the video above, I cover 7 pricing models, their pros and cons, when to use each, and also talk about a few pricing strategies.
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