From Fired to Thriving: Mike Wood's Journey to Building a Successful Digital Marketing Consultancy

In my recent conversation with Mike Wood of LegalMorning.com on the "Thriving Through" podcast, he shared invaluable insights from his 15-year journey as a digital marketing consultant. What began as a sudden career pivot after being fired has evolved into a thriving consultancy specializing in Wikipedia management, SEO, and digital marketing strategy.

Finding Success Through Focus

One of the most powerful takeaways from our discussion was Mike's commitment to focusing on specific niches. When his business began growing, Mike analyzed where his clients were coming from and doubled down on the two industries providing most of his business. This strategic focus allowed him to double his revenue within a year.

"Double down on what you know," Mike advised, echoing Gary Vaynerchuk's philosophy. "If you're making money helping people with social media, that's where you need to focus and double down with your talents."

The Courage to Say "No"

Perhaps the most surprising insight came when Mike shared how saying "no" to certain projects actually helped grow his business. He recounted a pivotal moment when he declined a high-paying Wikipedia project because it violated platform guidelines:

"No amount of money was going to be worth the backlash that we were going to face," he explained. The client responded: "We've never had anybody consult us for Wikipedia that has actually put that out there... You actually told us no, which made us actually look and think." That client remains with Mike to this day.

Measuring Success Beyond Revenue

When I asked Mike how he measures success, his answer was refreshingly honest: contentment.

"For me, I wake up every day, and I'm like, I enjoy what I'm doing. I'm very, very content. There's no specific dollar amount that can do it. There's no specific number of clients that can do it. It's all at this point a personal success," he shared.

Overcoming Common Consultant Challenges

Mike candidly addressed challenges that most consultants face:

1. Financial Uncertainty

After losing his job, Mike was forced to go all-in on freelancing. Through persistence and strategic focus, he grew from making $10-15K in side income to six figures within a year of going full-time.

2. Pricing Insecurities

It took Mike about two years to find the right pricing balance. He observed that undercharging often attracted difficult clients, while overcharging reduced client retention. The right price point emerged through trial and error, along with watching for key indicators like repeat business and referrals.

3. Imposter Syndrome

Mike acknowledged that self-doubt affects everyone. His advice? "I would rather regret doing something than regret not doing something." He found motivation by considering what he would regret more at the end of his life.

4. Handling Rejection

Rather than avoiding or ignoring rejections, Mike recommends using them as learning opportunities. He suggests asking clients who declined your services for feedback: "For my benefit, for future projects with others, can you tell me what it was that allowed you to choose another provider over us?"

Mike's One Piece of Advice

When asked what advice he'd give his younger self, Mike didn't hesitate: "Don't get distracted."

He emphasized that distractions—whether from fear, chasing money, or pursuing too many opportunities at once—are often what derail consultants. "If you get distracted, start looking left or right, pivoting too much from what your business plan is, you're more likely going to fail."

Want to Build a Thriving Consultancy? Listen to the Full Interview

Mike's candid insights about growing a consulting business from scratch to success are too valuable to miss. If you're a self-employed consultant facing challenges with client acquisition, pricing, or maintaining focus, this episode offers practical wisdom from someone who's navigated these waters successfully.

WATCH NOW: The full interview with Mike Wood on the Thriving Through Podcast

What's been your biggest challenge as a self-employed consultant? Share in the comments below, and let me know which of Mike's insights resonated most with you!