When is the last time you participated as a team member instead of leading your team?
- I’m acting as a team member right now
- I’ve done it within the past month
- I’ve done it within the past year
- I’ve never stepped out of the leader role and into a team member role
SWAP OUT ANALYSIS Get the revenue model right. Many of you have considered hanging out your own shingle and running your own consulting firm. One of the most important questions you have to answer is: What’s your revenue model going to be? If you don’t get the revenue model right, you’ll be spending too much time working and not getting paid enough for it. You might also miss out on lucrative alternate sources of revenue if you’re not thoughtful about what assets you have to sell. You must understand the different types of consulting revenue models and choose yours deliberately. It can be the difference between working like a dog and retiring early.
Mike Figliuolo is managing director of thoughtLEADERS. Before launching his own company, he worked at McKinsey & Co., Capital One and Scotts Miracle-Gro. He is a graduate of the U.S. Military Academy at West Point. He's the author of three leadership books: "One Piece of Paper," "Lead Inside the Box" and "The Elegant Pitch."