Welcome back to The 2x2 - the ultimate newsletter for executive consultants!
This week, we have a new podcast to help you set a new goal in 2026.
And a few communities where you can make friends.
Read on…
⏰ Today in 5 minutes or less:
Three mid-sized clients will work on your favor instead of one whale client.
Prospects don’t care about expertise — they want to know what you can do for them.
Your first ‘yes’ can come months after the first conversation. That’s normal.
AMA: How Can I Make $400K in 2026?
Welcome to another episode of Ask Me Anything – where I answer common questions from fellow indie consultants or fractional leaders.
This 2026, I have a challenge for you: make $400K by December.
Did that number scare you? Or does it sound like a piece of cake?
I think $400K is the mark of a successful consulting practice – it means you live a financially comfortable lifestyle without burying yourself with work.
Up for the challenge? You can listen to the full podcast here:
Q: How many clients do I realistically need to hit $400K?
A: Three clients paying around $12K/month will get you there – even assuming you take four weeks off (which you should). It’s the sweet spot: manageable workload, healthy revenue, and a sustainable way to run a one-person consulting practice.
Q: Why not just get one whale client instead of juggling three?
A: Because whales can sink you.
One client paying $36K/month sounds great, until leadership turns over, budgets shift, or priorities change – which happens every 13 months or so. When it happens, you’re starting at zero overnight.
On the other hand, three midsized clients spread your risk, protect your pipeline, and give you healthier boundaries around time and expectations.
Q: How many prospective clients do I need to reach out to?
A: The best way to do it is start with a curated list of 50 warm contacts. These are the people you’d say hi to at an airport, former colleagues, or anyone adjacent to the problem you solve. They will be your best source of early conversations and opportunities.
Q: My contacts don’t reach 50. Where can I find more people?
A: If you don’t have 50 contacts that feel receptive or close to your target client, you can expand it to 100. But never forget to conclude the call by asking them if they know anyone else for whom this conversation might be good.
Another way to find more people is to participate actively in group where you might be referred. For me, that’s CHIEF – it can also be an industry group or a local organization. Other good fits for me would include any kind of women in technology group, a consultant group, or any other adjacent groups.
Q: What am I going to say when I meet with them?
A: Remember to keep it warm and lead with value. Once the conversation starts, don’t simply talking about what you do – because they don’t really care about what you do. They will be more interested in what you can do for them.
To do that, you need to pivot the conversation and learn about their business. You can do this by bringing up a resource, article, or something you’ve created. Here are some other starter questions you can use:
How is your team/business doing these days?
What’s been the most interesting part of your work lately?
What’s on your plate right now that’s taking up the most mental space?
Q: How long does it actually take to close a deal?
A: Longer than most newbies expect. There are two types of buyers to watch out for: hair-on-fire buyers who need help now, and planning-cycle buyers who start planning 6-9 months before hiring anyone.
Most consulting work falls under the second type, which means long timelines are normal – your first yes might only come months after the first conversation.
Q: How do I know my rate?
A: There are different ways to set your rate. But if your target is $400K a year, I suggest you work backward from your actual revenue goal.
When you break $400K into the structure of a normal consulting year — three clients at around $12K/month — it shakes out to roughly $225 an hour if you were to think in hourly terms.
You’re not meant to bill hourly, but the math is a helpful gut check:
If $225/hr sounds shockingly high, you’re probably underpricing.
If it sounds low, you may be further along in your career than you think.
And if you’re drowning in five or six small clients and still not making enough? That’s your signal to raise your rates or target clients with bigger problems.
I also suggest checking out our articles about benchmarking and setting your rate.
You can also try using our rate calculator (and help us improve it).
Q: I’m not naturally motivated to do sales. How do I keep myself going?
A: Treat it like eating your broccoli: not exciting, but necessary. You can make it easier by using a simple CRM, networking all the time, celebrating small wins, and building a consistent cadence.
The path to $400K is surprisingly straightforward.
What you need is a little math, well-managed expectations, and the motivation to follow up with every conversation.
Once you start, the work compounds – and before long, you’re fielding the fourth client and wondering how to build a bigger team.
(I also wrote an article about it here, so make sure to give it a read.)
Where Indie Consultants and Fractional Execs Find Their People
One of the most overlooked struggles of indie consulting isn’t getting clients. It’s the isolation of doing the work.
But you don’t have to do it alone.
There are communities built for people like you – fractionals, independents, and founders who understand what the work feels like.
Start the year by making new friends. Here’s where you might find them:
Gif by abcnetwork on Giphy
A vetted group where fractional execs trade notes, roles, and the occasional vent session. High signal, low noise. Great for anyone building a fractional C-suite portfolio (COO, CMO, CFO, etc.).
🧰 Mylance
Part community, part toolkit. Workshops, templates, and an active Slack space for consultants building sustainable solo practices. Think of it as the “startup school” for independents.
Tailored for Gen Xers leaving corporate life and figuring out what’s next—fractional, advisory, or otherwise. Offers practical guidance and moral support for the “what now?” chapter after you hang up your badge.
Real-world events (mostly in NYC) connecting the people building companies with the experts who know how to help. Ideal if you’re a fractional exec who prefers actual handshakes to hashtags.
🧩 Umbrex
A global network of independent consultants, many of them ex-McKinsey, Bain, and BCG. Offers project leads, mastermind groups, and tools for running your practice like a firm of one. Best for experienced consultants who want peers at their professional altitude.
📣 Hey CMO
A tight community of fractional marketing leaders and CMOs. Members share playbooks, referrals, and vetted client opportunities across industries. Perfect if your work sits at the intersection of growth strategy and brand execution.
This is a private network of executive women – and there’s an amazing group of fractional executives that I met through this community. Even better than business building, they’ve been a real support for me personally.
Ready to Get Around the Table?
Here’s the thing: a thriving consulting practice isn’t built in a vacuum.
Surround yourself with people who understand the mix of independence, uncertainty, and joy that this kind of work brings.
Because even the most successful independent consultants still need company.
💼 See if you’re qualified…
Remember, the path to success is paved with continuous learning and embracing fresh perspectives.
Let's stay connected, share ideas, and elevate your consulting business.
Stay curious, friends.
The 2×2 is brought to you by Keenan Reid Strategies
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