As I sat at the Thanksgiving dinner table, a sense of fear overwhelmed me. It was then I resolved to commit fully to a career in consulting. The subsequent six weeks were haunted by one question: How could I consistently find enough deals to replace my income? Despite my doubts and an exhaustive search for answers, I faced a blank slate. With only three months to recalibrate, having already spent five months depleting our savings, the decision not to pursue a salaried job just 35 days before January added immense pressure.
Context and Lead Generation
Since the first week of December, I've successfully generated three new leads each week. It's essential to clarify what I define as a 'lead': an individual who has engaged with me and scheduled an initial call. I only classify them as leads upon scheduling a call.
Leads transform into opportunities when they attend the initial call, fall within my Ideal Customer Profile (ICP), and express an urgent problem related to Go-To-Market (GTM) strategies for the next 3-6 months. Absence of GTM focus leads to disqualification. Upon meeting these criteria, I transition the lead into an opportunity and incorporate it into the pipeline with expected closure dates.
Quick Summary of Deal Sourcing
My deal flow has been exclusively through word-of-mouth; I haven't sourced a single cold outbound deal. This success is attributable to a specific approach:
- Engaging top talent seeking opportunities in early-stage startups
- Connecting startups with both top talent and necessary funding
- Linking VCs with startups needing funding and talent
I aim to be the pivotal mixer in this dynamic ecosystem.
Strategies for Lead Generation
1. Founders
The bulk of my referral business comes from founders. I proactively engage with any founder reaching out, leveraging these interactions as prospecting opportunities. Providing value is key, whether it's offering candidates or expertise, leading to reciprocal referrals and expanded networks.
2. LinkedIn
LinkedIn has been instrumental in my lead generation efforts. Over ten years, I've cultivated a following of ~30,000, making my content a primary source of leads. Despite algorithmic changes affecting visibility, I've adopted a systematic approach to maintain and grow my lead inflow, averaging 2.5 inbound leads per week from LinkedIn.
3. Venture Capital
Developing relationships with VCs has opened another lead source, bridging connections between early-stage companies and investors. By acting as a matchmaker, I've facilitated introductions that benefit both founders seeking funding and VCs looking for promising investments.
4. Continuum
My introduction to Continuum two years ago presented a unique opportunity. This platform connects executives with founders for various roles, managing all backend processes and occasionally bringing deals directly to me.
Conclusion: A Recap and Future Plans
To summarize, my four primary sources of lead flow include founders, LinkedIn, venture capital, and Continuum. Consistency in engagement and value delivery has been critical. Looking forward, I plan to explore outbound strategies to further enhance my consulting business's lead generation efforts and share insights on developing an effective outbound sales motion.
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