Business Advisory

4 Business Advisory Success Stories [2024]

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Updated: October 10th, 2024

Business Advisory: Unlock Your Path to Insightful Success

Are you a natural problem solver with a knack for understanding business dynamics? Consider venturing into business advisory. In essence, a business advisory service involves giving expert advice to companies on how to improve their operations, efficiencies, and strategies.

Think of this as a chance to leverage your analytical skills and business acumen in helping organizations navigate challenges and grow. You'll spend your days pouring over data, identifying issues, and proposing actionable solutions that can make or break a business.

Intrigued? The allure lies in the direct impact you have on your clients' success. Your insights can transform struggling businesses and propel thriving ones to new heights. Starting is straightforward, needing only your expertise, a solid network, and a commitment to continuous learning.

In this list, you'll find real-world business advisory success stories and very profitable examples of starting a business advisory that makes money.

1. Dezan Shira & Associates ($18M/year)

Chris Devonshire-Ellis started Dezan Shira & Associates in Hong Kong in 1992 with very little capital. Despite warnings not to go to China, he saw its potential and moved there to explore business opportunities. Through hard work, strategic networking, and innovative marketing techniques such as distributing pamphlets and utilizing the internet, the business grew to become one of the most influential consulting practices in Asia with 28 offices across the region and a turnover of approximately $20 million per annum.

How much money it makes: $18M/year
How much did it cost to start: $2K
How many people on the team: 300

How I Started A $1.5M/Month Law, Tax And Compliance Consulting Business With 28 offices in China And The Rest Of Asia

Asian-focused consulting firm Dezan Shira & Associates, founded in Hong Kong in 1992, has expanded to include 28 offices and a client base of several thousand companies with US$20 million in annual turnover, handling about US$8 billion in foreign investment into Asia, by determined hard work and creativity in marketing, billing structure and hiring equity-dependent staff.

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Read by 6,889 founders

2. moonwater ($363K/year)

After taking a 40% pay cut to escape management consulting, Mike spent a decade in startups before founding moonwater, now averaging $30K+/month in revenue with a 93% margin by helping high-potential startups grow faster and more efficiently.

How much money it makes: $363K/year
How much did it cost to start: $500
How many people on the team: 1

My Startup Consulting Solopreneur Business Makes $30K/Month

Case study: How a former management consultant started his own growth studio, moonwater, and achieved average monthly revenue of $30K+ with a 93% margin by offering growth audits, advisory services, and fractional operating to 7 & 8-figure startups.

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Read by 1,072 founders

3. Startup Story Private Limited ($60K/year)

Anil Bakshi and Animesh Shukla founded Startup Story to help aspiring entrepreneurs gain credibility and visibility in the market. Recognizing that 90% of startups fail due to a lack of team credibility, they provide startup support services and media promotion through brand stories, podcasts, and video interviews. With over 150 inspiring stories and 50k monthly unique visitors, Startup Story is empowering the next generation of entrepreneurs.

How much money it makes: $60K/year
How much did it cost to start: $10K
How many people on the team: 10

On Starting A Website To Promote Indian Startups And Entrepreneurs

Startup Story is a media platform that promotes startups and small businesses through podcasts, live interviews, and real-life stories, with over 150 stories covered and a monthly traffic of 50k unique visitors.

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Read by 4,216 founders

4. Spreadtheworld ($24K/year)

Xavier Coiffard, a developer turned solo entrepreneur, came up with the idea for his business, Spreadtheworld, after struggling to find online places to post his startup. He curated a list of 100 places and shared it on Reddit and IndieHackers, which gained significant traction. This led him to create a product, and from there, he launched several other successful ventures following a similar approach.

How much money it makes: $24K/year
How much did it cost to start: $0
How many people on the team: 0

How I Created A $2K/Month Startup Marketing Database Using No-Code Tools

Learn how Xavier Coiffard generated $2000 per month in revenue by building 4 products in 4 months with no-code tools like Carrd, Airtable, Gumroad, and Zapier, as well as how he soft launched his products on Twitter and iterated on his launch strategy.

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Read by 4,415 founders