How to Make 6 Figures As A Consultant? (11 Best Ways in 2024)
So you want to make six figures as a Consultant? Good for you! Being a Consultant is a highly respectable and well-paid profession, and there's no reason why you can't earn a high income if you put your mind to it.
In this blog post, we'll look at some of the best ways to make more money as a Consultant - business ideas you can start to achieve such income. Keep reading to learn more!
1. Become an affiliate marketer ($55.3K/month)
By becoming an affiliate marketer, you could supplement your income as a consultant and even reach six figures by leveraging your marketing skills to promote other companies’ products or services. This business model requires minimal upfront investment as you don’t need to create or own products yourself, allowing you to start with low financial risk.
You could start earning commissions for every sale made through your referrals by signing up for affiliate programs in your chosen niche and using unique tracking links. This approach enables you to tap into a potential stream of passive income, which could quickly bolster your overall earnings without detracting from your primary consulting business.
How much you can make: $18,000 — $83,000/month
How much does it cost to start: $100 (?)
How long does it take to build: 150 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
2. Start a freelance writing business ($62.6K/month)
Starting a freelance writing business could significantly boost your income and help you make six figures as a consultant. As a freelancer, you possess the flexibility to set your own work schedule, allowing you to seamlessly integrate writing projects with your consulting commitments. This flexibility lets you work from home at any time, empowering you to manage multiple income streams efficiently.
By tapping into various niches and writing about diverse topics, you open up a broad array of lucrative opportunities. Additionally, leveraging your strong writing skills, ability to meet deadlines, and being up-to-date with current writing tools can make you a sought-after expert in the freelance market. This entrepreneurial endeavor provides a self-sustaining way to enhance your income, positioning you well on the path to earning six figures.
How much you can make: $700 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 56 days (?)
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
3. Create an online course ($82.8K/month)
Starting an online course could be a lucrative way for you to supplement your income and make six figures as a consultant. By identifying educational gaps in your area of expertise and creating engaging video lessons, you could attract a student base eager to learn from your specialized knowledge.
With the flexibility to offer self-paced or cohort-based learning, you could effectively scale your course offerings and generate passive income. For entrepreneurial-minded consultants, this presents a low-cost opportunity to monetize your instructional talents while serving lifelong learners seeking convenient access to emerging subjects.
How much you can make: $275 — $1,000,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 88 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
4. Start an ecommerce store ($287K/month)
Starting an ecommerce store could significantly supplement your income and help you make six figures as a Consultant. Given its low overhead costs, immense flexibility, and the potential to reach a global audience, an ecommerce business offers a lucrative opportunity to expand your revenue streams beyond consulting. With the booming popularity of online shopping, you could easily tap into a market of consumers who prefer the convenience and efficiency of buying products from the comfort of their homes.
By setting up a professional website and integrating essential tools like payment processing, shopping cart, and inventory tracking software, you could create an additional source of steady income. This venture would not only diversify your financial portfolio but also allow you to leverage your analytical and strategic skills from consulting to optimize your ecommerce operations. The right approach could lead you to attain that six-figure goal while broadening your entrepreneurial horizons.
How much you can make: $350 — $13,500,000/month
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Southern Elegance Candle Company, founded by D'Shawn Russell, started as a side hustle making around $200 per weekend at a local Farmers Market, but now averages approximately $20,000 per month in sales across their retail site, wholesale site, and Faire.
5. Start a youtube channel ($146K/month)
Starting a YouTube channel could be a highly effective way for you to supplement your income as a consultant. By sharing your expertise and insights through engaging content, you could attract a sizable audience and leverage YouTube’s established monetization system. Reaching at least 1,000 subscribers and 4,000 watch hours could enable you to join the YouTube Partner Program, paving the way for ad revenue, sponsorships, and other income streams.
Moreover, your channel could serve as a powerful marketing tool, showcasing your skills and potentially attracting new consulting clients. With millions of users seeking advice and information on YouTube daily, you could build a dedicated following and create a significant revenue channel by providing valuable, insightful, and relevant content.
How much you can make: $800 — $1,000,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.
6. Become a social media influencer ($57.4K/month)
Thinking entrepreneurially, you could bolster your consulting income by becoming a social media influencer. By leveraging platforms like Instagram, YouTube, Facebook, or TikTok, you could position yourself as an authority in your consulting niche, attracting a vast audience of potential clients.
Brands often flock to social media influencers who have established credibility, offering lucrative deals for promotions and partnerships. With the right strategy and relevant, engaging content, you could not only enhance your consulting firm's visibility but also open multiple revenue streams, ultimately helping you achieve six figures.
How much you can make: $2,500 — $166,666/month
How much does it cost to start: $800 (?)
How long does it take to build: 155 days (?)
How one mother built a profitable frugal motherhood, life, and travel blog from scratch, using Instagram, Pinterest, and paid sponsorships to grow from 0 to 18.5K followers and generate $1,500-$3,000 per month in less than two years.
7. Start a podcast ($97.9K/month)
Starting a podcast could significantly boost your income as a consultant by allowing you to share your expertise and reach a broader audience. By choosing a niche or topic you're passionate about and using basic recording equipment, you could create engaging content that attracts a dedicated listener base. As your audience grows, avenues for monetization like sponsorships, advertisements, and even client leads open up.
Moreover, showcasing your skills and knowledge through a podcast can establish you as a thought leader in your industry, enhancing your reputation and potentially leading to higher consulting fees. The low-cost entry and promotional methods, such as leveraging social media and online communities, make it an accessible and scalable side business or even a primary business venture. This could pave the way for substantial supplemental income, ultimately contributing to a six-figure income as a consultant.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
8. Start a blog ($44.9K/month)
Starting a blog could significantly supplement your income and position you to make six figures as a Consultant. Given that 77% of internet users read blogs, starting one enables you to reach a broader audience and showcase your expertise. Blogging not only establishes you as a thought leader in your consulting niche but also offers multiple monetization opportunities, from affiliate marketing to sponsored posts.
By choosing a topic you are passionate about and developing a strategic content plan, you could attract a dedicated readership and build a loyal following. This reader base could eventually turn into clients, especially with blogs being rated as one of the most trustworthy sources of information. Furthermore, maintaining a consistent posting schedule and creating a mailing list would keep your audience engaged and open more doors for additional revenue streams through courses, e-books, and consulting services.
How much you can make: $100 — $650,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
9. Digital products ($242K/month)
Creating digital products could be a lucrative avenue to supplement your income and potentially make six figures as a Consultant. Given that digital products such as eBooks, courses, and apps are easy to create and share, you could leverage your expertise to develop high-value content that serves your audience’s needs. This approach not only allows you to build new revenue streams but also enhances your professional brand.
Moreover, digital products eliminate the complexities of inventory management, allowing you to focus on delivering quality content directly from your website or platforms like membership sites and online communities. By offering specialized knowledge in a scalable format, you could rapidly expand your reach and monetize your existing skills in innovative ways.
How much you can make: $10,417 — $1,766,666/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
FilterGrade is an eCommerce platform offering digital assets such as photo filters and video templates; attracting over 450,000 monthly users and generating approximately 30k a month, the founders worked hard to build a valuable marketplace for creators while focusing on digital marketing, partnerships, and content creation.
10. Start a social media marketing agency ($386K/month)
Starting a social media marketing agency could be a lucrative avenue for consultants looking to supplement their income or even create a full-fledged business. The beauty of this venture is that it offers flexibility with time, allowing you to automate many processes using social media marketing tools. With a good strategy in place, you could serve your clients efficiently without needing to dedicate excessive hours.
To attract clients, you would need to develop a compelling agency portfolio that showcases your ability to deliver results. Whether you're aiming to cover utility bills, finance college education, or save for a vacation, setting up a social media marketing agency could provide the financial boost you're seeking. Given your consulting background, your expertise could make you particularly adept at understanding and meeting client needs, potentially paving the way to a six-figure income.
How much you can make: $1,000 — $4,166,667/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 75 days (?)
Time commitment per week: Min. 30 hours/week
How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.
11. Start a career coaching business ($48.5K/month)
Starting a career coaching business could significantly supplement your income as a consultant, enabling you to potentially reach a six-figure milestone. As a career coach, you provide personalized guidance, support, and strategic services that help clients navigate professional transitions and seize growth opportunities. This role involves designing tailored sessions for resume building, interview prep, and workplace advancement, making it a valuable service for professionals aiming to elevate their careers.
Moreover, the flexibility for in-person or virtual meetings allows you to build a diverse client base, empowering them to achieve breakthroughs through specialized advice and ongoing accountability. If you possess speaking talents and expertise in human resources, launching a career coaching practice could be a lucrative way to monetize your motivational skills and set your own schedule. By leveraging these strengths, you can create a successful side business or even a primary income stream, significantly enhancing your earning potential as a consultant.
How much you can make: $1,000 — $235,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
