The Wealthy Consultant audiobook cover - Confessions of a 9-Figure Advisor

The Wealthy Consultant

Confessions of a 9-Figure Advisor

Taylor Welch

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The Wealthy Consultant
Scaling Strategy+
Product Ecosystem+
Team Building+
Harnessing Attention+

Quiz — Test Your Understanding

Question 1 of 7
According to the text, what characterizes 'bad scale' in a business?
  • A. Growing a business exclusively through addition rather than multiplication.
  • B. Sacrificing the future certainty and reputation of the business to reach arbitrary short-term targets.
  • C. Failing to capture enough of the total addressable market (TAM) through organic media.
  • D. Giving away too much free information instead of charging for it.
Question 2 of 7
What are the two recurring issues that typically arise when it comes to pricing a product or service?
  • A. Over-relying on discounts and ignoring the cost of goods sold.
  • B. Charging a flat subscription fee and failing to offer refunds.
  • C. Making products too cheap for new customers and too expensive for loyal ones.
  • D. Mispricing (either significantly undercharging or overcharging) and failing to segment the market.
Question 3 of 7
When scaling with products, what is the highest level of product offering where customers pay for direct access to you and your ideas?
  • A. Proximity
  • B. Customization
  • C. Information
  • D. Partnership
Question 4 of 7
When developing a team, how does the text distinguish between 'training' and 'equipping'?
  • A. Training is for new hires, while equipping is reserved for senior management.
  • B. Training develops competency, while equipping gives someone freedom and the ability to make decisions.
  • C. Training provides physical tools and software, while equipping focuses on company culture.
  • D. Training focuses on a candidate's attitude, while equipping focuses on their past experience.
Question 5 of 7
According to the author's hiring metrics, what is the specific consequence of hiring a candidate who lacks competency?
  • A. They will ruin the company culture.
  • B. They will cost you time.
  • C. They will cost you money.
  • D. They will require constant micromanagement.
Question 6 of 7
Which of the four attention platforms is described as the hardest method, but also the safest and most predictable because almost nothing can interfere with it?
  • A. Paid media
  • B. Organic media
  • C. Partnerships
  • D. Outbound
Question 7 of 7
What overarching principle does the author recommend regarding the use of attention platforms?
  • A. Focus exclusively on paid media until you have a recognizable brand.
  • B. Add diversity by using a variety of platforms to alleviate risk and grow sustainably.
  • C. Avoid organic media entirely because it is too slow to generate revenue.
  • D. Transition all marketing efforts to partnerships once the business reaches a certain size.

The Wealthy Consultant — Full Chapter Overview

The Wealthy Consultant Summary & Overview

The Wealthy Consultant (2023) offers practical suggestions for building a successful business. By learning how to scale safely and choose the right talent for your team, you can help your business to grow sustainably.

Who Should Listen to The Wealthy Consultant?

  • Entrepreneurs
  • Business owners who want to know how to get people’s attention
  • Anyone interested in building a sustainable business

About the Author: Taylor Welch

Taylor Welch is the founder of the training platform The Wealthy Consultant. He works with trainers, educators, and consultants, helping them to scale their businesses. He’s also the author of Winning at Sales.

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