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Episode 109 of the Your Consulting Business Podcast The Critical Difference Between

Consultants and Contractors: Contractors VS Consultants, AVOID the TRAP!

This week, Russell Pearson discusses the difference between being a contractor and a consultant, emphasizing that the latter can significantly increase hourly rates from $200 to $2,000. He explains that consultants add strategic value by understanding client needs and goals, unlike contractors who merely execute tasks. Pearson outlines three levels of consulting: employee, service provider, and advisor, highlighting that advisors focus on outcomes and are paid higher fees. He advises consultants to stop selling time, start selling counsel, begin with strategy, position as advisors, and lead with questions. Russell also mentions the importance of leveraging expertise to provide high-value outcomes. Timecode: 0:00:00 The Contractor Trap 0:03:00 Levels of Engagement: Employee, Service Provider, Advisor 0:08:05 The Select Consulting Model 0:15:14 Practical Steps to Transition from Contractor to Consultant 0:21:00 Becoming a Great Consultant 0:21:53 Conclusion and Next Steps