By guru business I mean the expert business, and particularly the one-person expert business. I mean consultant, coach, adviser, researcher, business hired gun, life coach, trainer, and so on.Ã‚Â I mean a person who makes a living by selling (real or imagined) expertise, experience, and knowledge.
I was a business planning consultant for most of the 1980s and early 1990s, working almost always alone, just myself, no company. So thatÃ¢â‚¬â„¢s an example of an expert business. And IÃ¢â‚¬â„¢ve been thinking lately about how much social media has changed that business model for the better. In this case Ã¢â‚¬â€œ but with one notable exception Ã¢â‚¬â€œ change is good.
Benefit 1: Marketing your expertise is way easier
There is a new way of marketing that is so much better than the old way. Call it the Web, social media, blogs, Twitter, or the combination; it means way more reach, automatically, if you do it right.
Consider the comparison, now vs. then: I lit out on my own as a business planning and market research expert in 1983. I had my credentials, of course, including academic degrees and a fancy title with a brand-name consulting company, plus some published works. But how did I make myself known? Word of mouth from clients whoÃ¢â‚¬â„¢d worked with me as an employee, yes. But from there it was a struggle to get my articles into magazines, my self onto the podium at the big trade shows (such as Comdex), and to finish a couple of published books on my main subject matter.
Today, in comparison, successful experts build their business by a combination of useful blog posts, active mini-blogging on Twitter, ebooks, and work with Facebook and LinkedIn. Do you see the pattern there? The gatekeepers are gone.
Where it used to be important to validate your expertise by getting through the gatekeepers in corporate branding and publishing, nowadays canÃ¢â‚¬â„¢t you validate your expertise by making good sense on your blog? Believe me, thatÃ¢â‚¬â„¢s so much easier than the old way of publishing, speaking, and giving seminars.
Benefit 2: Acceptance is based on expertise more than setting
I posted this related thought on this blog Tuesday, about how clients can get better value from a one-person business with no overhead. Who does the work? The client is much more likely today, compared to 20 years ago, to accept and even approve of the fact that you’re on your own. Not having a company around you is no longer cause to wonder what’s wrong with you.
Benefit 3: With gatekeepers devalued, itÃ¢â‚¬â„¢s the work that matters
And then there’s this last thought, which I hope is true: today we judge experts by their work, meaning their writing and speaking (and tweeting), much more than we used to. Today an expertÃ¢â‚¬â„¢s work is more immediately available, and with less distortion through gatekeeper filters, than ever before. IsnÃ¢â‚¬â„¢t it?
How do you evaluate a guru ahead of time? Usually the about page and the content of the blog. ThereÃ¢â‚¬â„¢s less interference there. Back when I started, it took getting through magazine editors to get published, or event managers to get a podium, or joining or creating a company.
Do you frown on an ebook because it wasnÃ¢â‚¬â„¢t published by a name-brand publisher? Do you mistrust a blog because it isnÃ¢â‚¬â„¢t in a major business publication? Not so much. Am I right?
And the warning?
The bad news is the other side of the good news: ItÃ¢â‚¬â„¢s the work that matters. Today you have to either do good work or settle for clients you can fool. It was easier back then to hide mediocre work with a company around you, or an editor of a magazine to rewrite it. Today, if you claim to be an expert, youÃ¢â‚¬â„¢d better create some content to back that up. Transparency is cool when itÃ¢â‚¬â„¢s a bright and beautiful looking glass that highlights and spotlights you. ItÃ¢â‚¬â„¢s not so nice when itÃ¢â‚¬â„¢s a magnifying glass thatÃ¢â‚¬â„¢s going to burn you like an ant in the backyard on a hot summer day.