Course 2: Establish Your Budget
Figure out how much revenue you need in order to cover your expenses.
About the Course
Course 2: Establish Your Budget helps you answer several questions that are critical to any independent consultant:
- How much money do I need to pull out of the business in order to maintain my standard of living?
- If about to launch your practice, what are my startup costs?
- How much revenue do I need to bill in order to cover my business expenses?
- What does my "warning track" look like?
- How do I estimate my future revenue and the value of my sales funnel?
- If I'm not able to generate enough revenue, where could I scale back costs for the business and my household?
In addition to the video-based presentations and demonstrations, you will receive:
- Workbook that you can download and print to guide you through the process
- Tools that you can download and start using, including two budgeting spreadsheets
Hi, I'm Gus, and I know your pain. I've owned and operated consulting firms for over 15 years, catering primarily to large corporate clients in the pharmaceutical, healthcare, brokerage, banking, insurance, telecom, technology and manufacturing industries. Early on, I found pricing very stressful, disruptive, and time-consuming, so I set out to get better and faster at it, so I could do it well, then get back to doing my real work.
Over the years, I have successfully bid on hundreds of consulting projects ranging in value from tens of thousands of dollars to millions of dollars. I have mentored sales people as well as fellow consultants and entrepreneurs in the art and science of scoping, costing, and pricing professional services. Through lots of trial and error, I have developed a consistent process as well as a suite of tools that help me knock out proposals and quotes quickly, so I can get back to doing the consulting work that I enjoy.
I earned a PhD in Education with a minor in Management as well as an MBA, a BS in Marketing, and a Certified Performance Technologist designation. I've taught Masters-level courses in Instructional Systems Design and frequently deliver live and virtual workshops on a wide variety of topics. I enjoy working with entrepreneurs and helping them build the consulting practice of their dreams.
StartWhat's the NUT you need to crack? (2:53)
StartWhat are your startup costs? (7:51)
StartCreate your "Optimistic" Business Budget (4:36)
StartEstimating Project Revenue (inflows) (10:10)
StartKnow what your Sales Funnel is worth? (18:06)
StartCreate your "Conservative" Business Budget (10:37)
StartKnowledge Check | Establish Your Budget
StartYour Assignment (2:35)