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Business Predictions for Consultants Who Want to Dominate in the New Decade

Business Predictions for Consultants Who Want to Dominate in the New Decade

As we roll into 2020 and enter a new decade, consultants need to be aware of the new emerging trends and how to maximize them to your advantage. One prediction is certain, if you keep your head buried in the sand, and don’t look at the horizon, you’ll quickly stall out.

While we can’t precisely predict what will happen tomorrow in our businesses, we can make sure that we’re constantly exploring and exploiting new innovative ideas, business strategies, and scalable business models. It’s about leveraging every new opportunity and taking advantage of change.

Here are three areas trending now that will shape the future of savvy business consultants in the next decade.

#1 – People Are Ready for More Real-Time Communication

The last decade was all about how to harness the internet to do business. Two trends emerged that are still power players today – social media and email. In the decade ahead, these are still important but something needs to change. Think about how saturated social media is with self-promotion. Too many consultants have been mesmerized into thinking the number of “likes” on their social media posts is what matters most. If it’s not translating into paying clients, it doesn’t. And how many emails do you get a day? Hundreds? Whether you’re sending bulk emails or personalized emails to prospects and clients, there’s a real danger that they’re getting buried in their inbox.

With that in mind, here’s what you need to keep in mind for 2020. If you want to really stand out and seal way more deals you need to take advantage of old fashioned in-person and phone communication. That’s why I tell my coaching clients that if they want new business, they need to pick up the phone and call former clients to periodically checking in with them, or schedule discovery calls with prospective new clients, or arrange for live meetings with new corporate clients. Nothing can influence someone like being live across the table from them to build rapport and trust. Social media and email don’t even come close as trust builders.

#2 – Corporations Desperately Need Help from Consultants

There are a lot of shifts going on in the corporate world right now. We’re seeing universities and small to large companies downsizing, rightsizing and going through mergers and acquisitions. Another factor is that with unemployment rates being at an all-time low in the United States, companies need help to retain top talent. When they lose a valued leader as an employee, statistics show it can cost them as much as $250,000 to replace them and get the new person up-to-speed. It’s no wonder companies are rating leadership building as “very important.” Only 7% of companies believe they are “excellent” at building Millennial leaders and only 13% of companies report they are “excellent” at building global leaders.  That’s the gap consultants can fill by being prepared to enter the corporate arena with our unique backgrounds and areas of expertise to help organizations who are spending nearly $31 billion on leadership programs.

As we move into the new decade, you cannot ignore that companies today are spending $1 billion a year on coaching. Companies are broadening the scope of their training programs which is why they need more consultants and trainers than ever before. This is a great opportunity for consultants who work with individual clients to pivot their services over to organizations that have large budgets to pay you what you are worth. Don’t forget, it is in what we do to help corporate professionals improve in these soft skills that help them achieve higher company initiatives, so both the companies and the individuals win.

The key to being successful is learning how to connect your services with corporate needs. As a consultant, can you help a leader develop the multi-faceted ABCD’s of image and brand management so they’re prepared to lead in this new decade? Can you teach employees to represent the company’s brand image in the marketplace? Can you coach employees that work with the public communication skills that will enhance customer satisfaction? Can you develop top talent within the company to save money on recruiting and training?  These are just a few ways to maximize on this incredibly lucrative trend.

#3 – It’s Time to Harness Technology and Go Global

I’m finding that with new technology, it is easier than it was a decade ago to work with people virtually. You can use Zoom or other video platforms to offer one-on-one consulting. Or you can use technology to deliver valuable content in different modalities such as online courses, virtual mastermind communities, and webinars. It used to be we thought every service had to be live and in-person, but today what customers want most are rapid results.

You can dramatically broaden your market by offering services to individuals or organizations in other cities, or even other countries, by simply opening up your computer. I love that I can live-stream out one of my corporate workshops to people in Europe or virtually connect with one of my private coaching clients for an intensive VIP day. If you are truly an expert, people from far away will hire you if they can have access to your smarts, processes, frameworks, and templates.

Now it’s time to look at YOUR business trends

We’ve covered what I consider to be the top three trends for consultants and coaches as we move into the 2020s. But it’s also critical to your success to spend some time analyzing your business trends.

Look over the last year and see what worked that can help to multiply your business 2x, 3x, or 5x in this new decade. What can you replicate or duplicate? And where do you need to start from scratch and innovate? If you were successful in closing lots of private clients or big corporate deals, analyze where your business came from and how you can you do more of that. If you spoke at a private event and converted the audience of 20 into five new paying clients, repeat that.  Predictable success comes from repeating and replicating when possible, while simultaneously innovating and experimenting with new ideas.

I encourage you to stay open to the new trends on the horizon and then act on what you discover. To have predictable business success you have to be flexible and adjust your mindset, your business model, and your behavior to the new times ahead. Change what needs to be changed that’s within your power to change.

Sarah’s Predictable Results Insights

  • Which of the three trends in this article could you maximize on in the coming year?
  • What areas of your business have been successful thus far that you should replicate?
  • What area of your business is going to require innovation for you to dominate your market?

If you need support from a private coach or a mastermind community to maximize on new trends in the coming decade, reach out to me at 1-800-267-3245 for a complimentary strategy session to see how we may be of service to you.