Conventional advice from pundits says never serve "whales" in your consulting business. But what if they're wrong? (Hint: they are.) A whale model CAN work in the right circumstances, provided it’s a fit with how you like to work and you design and price them correctly.

Here’s my advice on whether (and how) to add whale clients to your service mix:

What exactly makes a client a whale?

A few examples of highly successful whale business models—how they’re structured and how much revenue they deliver.

Why conventional "wisdom" about whales doesn’t apply when you structure and price them correctly.

The three challenges you’ll need to address to make sure whales will work for your particular business.

Where to start if you decide adding whale clients makes sense.

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The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

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TRANSCRIPT

Rochelle Moulton

00:00 - 00:47

You just want to make sure that your whale clients fit neatly into at least one of your sweet spots, like the type of work, the industry, your client profile, et cetera. Otherwise, each one will feel like a supremely heavy lift, and that's the last thing that you want. Hello, hello. Welcome to the SOA's Life Podcast, where we're all about turning your expertise into wealth, impact, and power. I'm Rachelle Moulton, and today I want to talk to you about whether it makes sense to include whale clients as part of your service mix right now. I sent out an email to my list about this last week, and I got quite a few responses as well as a few questions.

Rochelle Moulton

00:47 - 01:27

So we're going to do a deeper dive on this today. Let's start with what I mean by whale client. They don't have to be a giant company or a huge organization. The whale refers to how much of your revenue they represent. So I'd call any client that is 15 to 20% or more of your annual revenue a whale. Now, there is this assumption in certain circles that a whale client model is bad. That the best goal is to build revenue streams where you can sell smaller things to more people. That that is less risky over time.

Rochelle Moulton

01:28 - 02:12

While there's nothing wrong with creating a diversified business, it isn't for everyone. Many consultants and advisors who are delivering major value to their institutional clients have built significant revenue and wealth using a whale model. So I'll give you a few examples. Number one, a specialty marketing consultant to big corporates who has a consulting book speaking model, earns $500,000 plus per year. They usually do a handful of $100,000 to $150,000 consulting projects and speak maybe half a dozen times a year, plus they earn royalties from their books. Now their downside is the travel required for speaking.

Rochelle Moulton

02:12 - 02:57

So this would be hard to master in say 20 or probably even 30 hours a week. Two, a retainer expertise model where the consultant sells $100,000 plus annual retainers to three to five companies. They typically are retained for a few years, you know, with annual renewals with the need and...

Have you noticed that expertise podcasts—even from “celebrities”—tend to have an arc? They grow, they evolve, they might even shrink or pause for awhile and at some point they end.

When Sales for Nerds host Reuben Swartz put his highly rated 100-episode podcast on hiatus with an intriguing announcement, I invited him to the show to talk about:

Why he hit the pause button on Sales for Nerds.

Where his podcast aligns with his core Soloist business—and where it diverges.

How he thinks about the value of his time and the role his podcast plays in personal learning and driving business.

The organic arc (rise, plateau, fall) his podcast experienced as his business and his goals have changed.

How finishing 100 episodes made him review his experiences and think about what’s next.

LINKS

Reuben Swartz Mimiran | Sales for Nerds | LinkedIn | YouTube (Mimiran) | YouTube (Sales for Nerds)

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

BIO

Reuben Swartz is the founder of Mimiran, the fun, “anti-CRM” for independent consultants, born of his experience as a sales and marketing consultant for the Fortune 500, struggling with his own business development efforts. He's also the host and chief nerd on the Sales for Nerds podcast.

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Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

BOOK A CALL WITH ROCHELLE

TRANSCRIPT

Reuben Swartz

00:00 - 00:28

So i dropped an email to jason cohen at wp engine hey jason i got this new concept for podcast i bring a bottle of wine to your office and interview you talk about wine i really like your blog he writes this brilliant blog and i've heard you speak at blah blah blah blah blah and I really like what you have to say blah blah blah blah blah blah And I'm also a customer blah blah blah blah blah blah Right? Like this really nice, suck up email. He just writes me back 5 minutes later--you had me at wine, here's a link to my calendar.

Rochelle Moulton

00:33 - 01:08

Hello, hello. Welcome to the Soloist Live podcast, where we're all about turning your expertise into wealth, impact, and power. I'm Rochelle Moulton, and today I'm so excited to welcome Ruben Swartz to the show. Ruben is the founder of Mimarin, the fun

When you’re building a Soloist expertise business, it’s pretty common to plateau around $200K or so in revenue.

Typically at that point, you’ve found your groove and can reliably hit that number—but if you want to scale beyond that, conventional wisdom screams that it’s time to hire employees.

Uh, no.

You’ve got plenty of faster, easier and safer choices when you want to scale:

Why hiring employees can be a viable model (I built and sold a boutique firm to the big boys for seven figures), but is front-loaded with challenges and risks.

The role niching can play in busting through a revenue plateau—by weaving yourself into an existing cohort of clients and buyers.

How to think about productizing your services and its impact on your revenue, your pipeline and your lifestyle.

Moving from implementation or execution services to high price point advisory options.

The three criteria you need to meet to make raising your prices a slam dunk.

LINKS

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

RESOURCES FOR SOLOISTS

Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

BOOK A CALL WITH ROCHELLE

TRANSCRIPT

Rochelle Moulton

00:00 - 00:52

You might have a business where you come in, you do a project, and you exit never to be seen again. But many of you do work that produces deep tentacles into client organizations, so you want any productized services you offer to support that. Hello, hello. Welcome to the Soloist Life Podcast, where we're all about turning your expertise into wealth, impact, and power. I'm Rochelle Moulton, and frankly, I'm still deciding how it feels to add power at the end of this intro, probably because I've never really been about power per se, but about my personal definition of wealth, enough money, free time, independence, flexibility and impact to enjoy my life and my work.

Rochelle Moulton

00:52 - 01:37

But as I said in my last solo episode, as soloists, we definitely have economic and leadership power, and it's time we use them. So I'm keeping that thought, power, and channeling it in this space for now. Speaking of power, today I want to talk to you about how to scale after you hit $200,000 or so in revenue. And the reason I want to hit on this today is I just tripped over a podcast episode about this topic, and I couldn't disagree more with the host's conclusions. See if you can't guess why. The main piece of advice was, wait for it, it's time to hire someone who does what you do, a mini-me.

Rochelle Moulton

01:38 - 02:24

Now, look, if your goal is to grow a business with employees, this is actually not bad advice. Somewhere around $200,000 is often when solos selling expertise bump up...

Maybe you’ve toyed with building a paid community as part of your business model. Or you gave it a shot and later shelved it because you just couldn’t make it work. Start-up Parent Founder Sarah K. Peck goes deep on how she built three paid communities:

How she chose the initial idea that morphed into her company and multiple highly engaged (paid) communities.

Why what looks like overnight success (260 applications for 25 spots) was actually years of experiments, trials and listening to a consistent audience.

How she looks at experimenting today—and why a one-year commitment keeps her focused on the best outcomes for her members and herself.

The role that lighthearted fun—joy even—can play in the success of your community and your own happiness.

The intersection of motherhood and business and finding your sweet spot between the two.

LINKS

Sarah K. Peck LinkedIn | Threads

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

BIO

Sarah K. Peck is the founder and CEO of Startup Parent and the host of The Startup Parent Podcast, an award-winning podcast featuring women in entrepreneurship, business, and parenting. She writes about work, culture, and parenting, and her work has been featured in Forbes, Inc, Fast Company, The New York Times, Harvard Business Review, and more.

BOOK A STRATEGY CALL WITH ROCHELLE

RESOURCES FOR SOLOISTS

Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

TRANSCRIPT

Sarah K. Peck

00:00 - 00:25

I started interviewing folks who have big careers and are working at startups who have gone through pregnancy. That's why it was Startup Pregnant. I wanted to learn from folks. And about three years into the project, I realized that I didn't want to talk to only moms and only women. It was like, the shifts that happen when you're pregnant are just the beginning. It's just the tip of the iceberg. Like you're a parent for the rest of your life.

Rochelle Moulton

00:31 - 01:11

Hello, hello. Welcome to the Soloist Life Podcast, where we're all about turning your expertise into wealth and impact. I'm Rochelle Moulton, and today I am so excited to welcome Sarah K. Peck to the show. So Sarah is the founder and CEO of Startup Parent and the host of the Startup Parent podcast, an award-winning...

Are you feeling whipsawed or demoralized by the U.S. headlines lately? You’re not the only one 😉.

And yet after you take a moment to confirm your values, you'll realize that now is exactly the time to flex your power:

Why building our businesses is precisely what we need to grow our wealth, impact and power. Yes, power.

How to think about your economic and leadership power in this current environment.

Why we need to do more than just resist cruelty, hatred and all the “isms”.

When it’s time to step into your role as a leader—beyond your business.

LINKS

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

BOOK A STRATEGY CALL WITH ROCHELLE

RESOURCES FOR SOLOISTS

Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

TRANSCRIPT

Rochelle Moulton

00:00 - 00:46

Many of you listening do have privilege. We have businesses, we have economic and leadership power, and we need to use them. This, my friend, is time to step up, not to conduct business as usual. Hello, hello. Welcome to The Soloist Life Podcast, where we're all about turning your expertise into wealth, impact, and power. I'm Rochelle Moulton, and I'm ready to lean into the power word. How about you? So this is the first episode I've recorded in 2025. I waited until now, I'm recording this in mid-February, because honestly, I just couldn't decide what to talk to you about.

Rochelle Moulton

00:47 - 01:50

Hearing, seeing, and feeling the cruelty and the hatred toward women, the LGBTQ community, the BIPOC community, left me numb. And then I got angry, really angry. What could I do? How can I use my unique talents to help build the world I want to live in? Well, I figured it out, and I got the fire back in my belly by asking myself a very simple question. How can we get more money and power into the hands of women and those disadvantaged by the system we live in? How? We build businesses, businesses that use our genius and produce copious flows of money, businesses that we control so we can work the way we want, when we want, where we want, so that we have multiple streams of wealth to invest in our families, our communities, and the causes we care about.

Rochelle Moulton

01:51 - 02:41

to not only resist cruelty, hatred, and all the isms, but to actively find our people, to float new ideas and collaborate with the like-minded for change. At this moment, many of you are feeling stunned, disenfranchised, fearful, and confused. So what's next? Do you speak out and risk being ridiculed, targeted, or worse? Or do you put your head down, staying silent and complicit? Now, not everyone has the privilege to speak out. And if that's you, resist subversively so you're safe. But many of...

As we close out 2024 (and Season 3 of The Soloist Life), it feels like the right time to revisit how we can best bring our light to the people we most want to serve:

Why now is the time to lean into your personal genius.

What I’m committing to for 2025 😉.

What exactly is a re*shift (and why might you be ready for one)?

The eight areas of life and work that you can custom blend to create your uniquely rich life.

Wishing you a happy holiday season and a joyous, healthy and prosperous 2025!

LINKS

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

RESOURCES FOR SOLOISTS

Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

TRANSCRIPT

00:00 - 00:45

I've helped create millions of dollars in value for clients as a soloist, never mind the tens of millions I built as a partner in big firms where I led a variety of businesses. But in this new world, excellent isn't good enough. We each need to burrow into our personal genius, serving the people who matter most to you in ways only you can do. Hello, hello. Welcome to the Soloist Life podcast, where we're all about turning your expertise into wealth and impact. I'm Rochelle Moulton, and today I'm recording this special episode, the last to close out season 3, a little over a month after the US election results.

00:46 - 01:32

I'm not gonna lie, It pains me to know that slightly over half of my country's voters have glommed on to a dark, dark vision for the future. It's not even remotely aligned with what I stand for, and yet this is where we are right now. But we soloists still have choices. We have agency. We do not have to accept these attitudes or work within their confines. Instead, we can choose differently. We can choose to operate in a positive, hopeful way, bringing our light to the people we most want to serve. I've been thinking about this quite a bit, even before the election, as I saw some extreme behaviors, and I feel it even more strongly now.

01:33 - 02:10

It all comes down to your personal genius. How can you best use your highest talents and skills to help the people you most wanna serve? For example, my work has been focused on helping soloist consultants break through their revenue plateaus. And that's because I'm really, really good at building expertise businesses. In fact, without false modesty, I'm excellent at that. And pieces of that work are in my genius zone. I've helped create millions of dollars in value for clients as a soloist, nevermind the tens of millions I built as a partner in big firms where I led a variety of businesses.

02:11 - 03:00

But in this new world, excellent isn't good enough. We each need to burrow into our personal genius, serving the people who matter most to you in...

When you’ve run your Soloist business long enough, you’ll see cycles: changes in the market, changes in you/your interests and situation and your bank account. Business coach Ed Gandia shares how his business, his financials and his mindset have changed over 18 years as a Soloist:

Growing his first freelance business entirely by word of mouth—and the markers he used to decide when to invest more or pivot.

The role of fear in his decisions and business growth (and why it’s different today).

Building a community when that skillset isn’t part of your DNA—and the advantages of longevity.

How using even small wins as fuel can re-wire your financial mindset (and your finances).

Traveling the full circle of financial mindset growth—from scarcity to success to recklessness to abundance.

LINKS

Ed Gandia Website | LinkedIn | Twitter

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

BIO

Ed Gandia is a business-building coach who helps established freelance writers and solo marketers earn more in less time doing work they love for better clients.

His High-Income Business Writing podcast has more than 1.3 million downloads. And his insights and advice have been featured in SUCCESS Magazine, Forbes, Inc. magazine, Fortune, Fast Company, The Christian Science Monitor and The Atlanta Journal Constitution.

BOOK A STRATEGY CALL WITH ROCHELLE

RESOURCES FOR SOLOISTS

Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

Soloist Events: in-person events for Soloists to gather, connect and learn.

TRANSCRIPT

00:00 - 00:22

Ed Gandia: I had a rule that all my side hustle income during those 2, 2 and a half years, after taxes, I would take 10% to reward myself and do something fun with or buy something cool. And then the rest straight to savings. I have 3 indicators that would show me I was ready to make the transition. And 1 of them was have a year's worth of living expenses.

00:27 - 01:10

Rochelle Moulton: Hello, hello. Welcome to the Soloist Life podcast, where we're all about turning your expertise into wealth and impact. I'm Rochelle Molten. And today I'm so excited to welcome Ed Gandia to the show. Ed is a business building coach who helps establish freelance writers and solo marketers earn more in less time doing work they love for better clients. His high income business writing podcast has more than 1.3 million downloads and his insights and advice have been featured in Success Magazine, Forbes, Inc, Fortune, Fast Company, the Christian Science Monitor, and the Atlanta Journal-Constitution. Ed, welcome.

01:10 - 01:16

Ed Gandia: Well, thank you, Rochelle, and I'm really delighted to be here and talking with you.

01:16 - 01:33

Rochelle Moulton: Well, I still can't believe that we haven't met before...

Categories: Growing Revnue + Wealth, Niching

Link: https://rochellemoulton.com/soloist_podcast/pulling-out-of-a-revenue-nosedive-with-chris-ferdinandi/?utm_source=subscriber

What do you do when your consistently growing revenue suddenly takes a nosedive—and your peers are feeling it too? Soloist Chris Ferdinandi walks us through the experience and the experiments he conducted to start lifting himself out of it.

Why he built his business as a side hustle and didn’t go solo until he matched his corporate salary.

The financial and emotional hit of a 50% revenue drop—and how to experiment without morphing to panic.

What to do when you’re “too feral” to go back into Corporate: the experiments that failed and those that gave hope.

How selling to a 640-person email list outsold the results from a 14,000 list—by over 3X (hint: the new sale was in his genius zone).

Two moves to make when your revenue is tanking—and one surprising upside.

LINKS

Chris Ferdinandi ADHD Tips | Mastadon

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

BIO

Chris helps people build a simpler, faster, more resilient web.

Early in his career, he felt like he couldn’t get anything done. Since then, he’s discovered a bunch of systems and strategies that let him turn his ADHD into a superpower. His ADHD tips newsletter is read by hundreds of developers each weekday.

He creates courses and workshops, publishes several daily newsletters, speaks at events, and has advised and written code for organizations like NASA, Apple, Harvard Business School, Chobani, and Adidas.

Chris loves pirates, puppies, and Pixar movies, and lives near horse farms in rural Massachusetts.

BOOK A STRATEGY CALL WITH ROCHELLE

RESOURCES FOR SOLOISTS

Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

Soloist Events: in-person events for Soloists to gather, connect and learn.

The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

TRANSCRIPT

00:00 - 00:20

Chris Ferdinandi: I also feel very positive about my ADHD. Much in the same way on your episode, the phrase like ruthless self-acceptance or there...