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Entrepreneur

Close a Consulting Contract

8 weeks · 3 milestones

Land your first $5,000+ consulting engagement.

Milestone map

Milestone map

3 milestones

Define the service and identify 10 specific potential clients

1–2 weeks

Define what you are selling specifically enough to price it, and identify 10 specific potential clients — not categories, but named organisations or individuals who might plausibly hire you. A consulting service defined as 'strategy consulting' is not priceable; a consulting service defined as 'pricing strategy for B2B SaaS companies between $1M and $10M ARR that sell into mid-market' is both priceable and targetable. The 10 names are the scope of the first outreach sprint — they will not all respond, but the act of naming them forces specificity about who actually needs this.

Proof required

Write a service definition (one paragraph) covering: what you do, who you do it for, what outcome the client gets, and your pricing (day rate or project rate). Attach or paste a list of 10 specific named potential clients — organisations or individuals — with one sentence each on why they might need this service.

What gets checked

  • Service definition is specific enough to price — a day rate or project rate with a basis is present.
  • 10 named potential clients are listed — not categories like 'mid-size SaaS companies' but named businesses or individuals.
  • One sentence per client on why they might need this — demonstrates you have thought about each name, not just copied a category.

Common mistakes

  • Service defined at category level: 'I'm a strategy consultant' — this is unchargeable and untargetable.
  • No specific pricing: 'pricing depends on scope' without a starting rate is a signal that the service has not been defined.
  • Target list is a category, not names: '10 types of companies' is not 10 clients.

Resources

Foundationstart here

What a verifier looks for

  • The service definition must be specific enough that a potential client reading it immediately knows whether they are in the target audience or not.
  • The 10 names must be real — ask whether the founder has any existing relationship with any of them, or whether these are cold targets.
  • Pricing: a day rate or project rate with a basis should be present — 'market rate' without a number is not pricing.

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Complete outreach and secure discovery calls with at least 3 prospects

2–4 weeks

Contact the 10 prospects from M1 and secure discovery calls with at least 3. The discovery call is the moment where a general interest in the service becomes a specific conversation about a specific problem. The proof is the outreach record and the call notes — not that 3 prospects are ready to hire, but that 3 are engaged enough to have a real conversation about the problem. Calls that result in 'not interested' still count; they are market data.

Proof required

Share your outreach log: for all 10 prospects, note the date contacted, the channel (email, LinkedIn, introduction, etc.), and the current status (no response / responded / call scheduled / call completed). For each of the 3+ discovery calls completed, write 3–5 lines on what the prospect said their problem was.

What gets checked

  • Outreach log covers all 10 prospects with dates and status — not just the ones who responded.
  • At least 3 discovery calls completed — calls that resulted in 'not interested' still count; they are data.
  • What the prospect said their problem was — in their words, not your framing.

Common mistakes

  • Outreach log only covers responders — the non-responses are the majority of the data set and should not be omitted.
  • Discovery calls not yet completed: 'I have 3 calls scheduled' — scheduled is not completed.
  • What the prospect said is rephrased as the service pitch: 'they need exactly what I offer' — a verbatim problem description is more credible than a summary.

Resources

What a verifier looks for

  • The outreach log should include non-responses — if all 10 prospects responded and 3 booked calls, that is unusually high and worth asking about.
  • The problem descriptions from discovery calls should be in the prospect's framing — ask the founder to quote one thing a prospect said.
  • Calls that resulted in 'not interested' are valuable proof — they demonstrate real outreach and real market feedback.

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Close a paid consulting contract — signed agreement and first payment

2–6 weeks (from discovery call to close)

Close a paid consulting engagement — a signed agreement and a first payment received. The payment does not need to be large, but it must be real: a promise to pay, a free project, or a deferred payment arrangement is not a closed consulting contract. The agreement must define scope, deliverable, timeline, and payment terms. A signed email thread with all four elements qualifies; a verbal agreement does not.

Proof required

Share: (1) the signed agreement (or signed email thread) — scope, deliverable, timeline, and payment terms visible; (2) a payment confirmation (bank transfer screenshot, invoice marked paid, or payment processor screenshot) showing the first payment received. Write one paragraph on what specifically converted this prospect — what happened between the discovery call and the signature.

What gets checked

  • Signed agreement with scope, deliverable, timeline, and payment terms — all four elements visible.
  • First payment received — a payment confirmation with an amount is shown.
  • What converted this prospect — the specific conversation, proposal element, or referral that moved them from interested to committed.

Common mistakes

  • Agreement without first payment: 'they've signed but payment is due in 30 days' — the contract is closed but the outcome is not yet achieved.
  • Free or deferred project: 'we agreed to do a pilot first' — a pilot without payment is not a closed contract.
  • What converted them is generic: 'they liked my experience' — the conversion factor should be specific enough to repeat.

Resources

Foundationstart here

What a verifier looks for

  • The payment confirmation must be real — bank transfer, invoice marked paid, or payment processor screenshot with an amount.
  • The agreement must cover all four elements: scope, deliverable, timeline, payment terms — ask which element was most negotiated.
  • What converted them: ask whether the founder has tested this conversion factor with a second prospect — one conversion is a data point, two is a pattern.

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