Start-Up Your Own Consultancy Business
In the current economic context the country finds itself in, many Americans are having to come up with new ideas for how to make a living—for many, the result of massive layoffs, and for others, because their previous job or project ceased to be profitable.
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Many people in this kind of situation have caught on to the fact that starting up their own consulting business is a great way to get ahead in life. Easy to do from home in many cases, a perfect way for you to be your own boss and accountable to nobody but yourself; for many Americans it is just a good idea to become a consultant; especially if you've got considerable knowledge of a particular topic, and have the desire to share it. |
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Taking Stock of Your Potential
Do you have what it takes to become a consultant? Though it is not necessarily the most complicated profession in the world, it does demand a commitment to excellence, strong work ethic, and time management skills. Also, you need to be a people person, able to communicate with ease and confidence and to win the trust and respect of your clients. At the most basic level, you need to have a strong body of knowledge to serve as the foundation of your practice: make sure you are up to speed with the latest advances in whatever area you choose to become a consultant in.
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Choosing a Field
You'll need to make the crucial decision of exactly what area to specialize in. Most people looking to enter the consultancy profession already know exactly what field it is that they will enter, based on advanced studies and/or experience therein. Others, however, may choose to employ skills and knowledge they have accrued from a variety of experiences and refine them a bit, in which case it is all the more important to get up to date on that particular field.
- Today, there are certain consulting fields that are particularly in demand, such as foreclosure consulting, due to the downturn of the housing market nationwide and the credit crisis, foreclosures are reaching historic levels in the U.S., and there are uncounted masses out there in need of some help to get through the messy process, and willing to pay to do so.
- There are, on the other hand, different consulting fields that remain particularly strong and stable over time, like the editing and writing sector. People with strong skills in this regard will always be needed by an infinite amount of customers, looking to fill newspapers, brochures, reports, websites, etc., with grammatically correct and convincing writing.
- Furthermore, the fields of marketing, advertising, human resources, IT and computer services, public relations, career counseling and accounting all are very fertile grounds for consultants looking for work.
Whatever you end up getting involved in, make sure you are the best in it, and constantly upgrade your knowledge and training. |
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Being Legit
Corporations large and small, as well as individual clients, all will want to know why they should trust in you as a consultant, and what your qualifications are as such. Each field will be different in this aspect, as in order to consult on certain subjects you will be required by law to have a license, whereas in other subjects this will not necessarily be the case. Though not all fields require licensing, there are still ways to obtain optional licenses that will boost your image and your credibility as a consultant, which will mean a stronger business venture in the long run.
Your clients' trust won't only come from seeing a diploma or other certificate hanging on the wall of your (home) office or a copy of your license in your portfolio; it will additionally require good communication and social skills on your behalf to secure the benefit of a client's trust. Make sure you have come up with a concise, convincing speech (not overly rehearsed, as this will come across poorly) that enumerates your qualifications, presents a clear plan of action, and—perhaps most importantly—conveys confidence and professionalism on your behalf. Many skilled and expert consultants end up losing ground business-wise because they fail to give this aspect of the consulting profession its due time and effort, or simply never manage to become efficient communicators, no matter how hard they try. If this is your case, then beware of entering the consulting field. |
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Building Your Network
This element of the process is what will guarantee the success of those who have taken the preceding steps seriously. After all, if you have all the knowledge in the world (on a particular topic), but nobody to share it with, then of what use is it to you? You cannot turn that situation into a profitable business strategy. Building and expanding a list of potential clients is something that needs to be executed from the first moment the idea of becoming a consultant enters your head, long before you even make good on your first assignment, and needs to continue to be done throughout the duration of your consulting endeavor. Knowing how to expand these networks is a skill unto itself: you will need to exploit every personal and professional contact (with tact and sensitivity, of course) you have to guarantee a constant flow of clients once you actually “open the doors” of your practice. |
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Following Up
You will have to give absolutely every client all of your attention (a tough balancing act, for sure—remember time management skills!), from the very beginning of the project all the way through to its end...and even beyond.
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That's right: you need to follow up with clients once a project is through, to make sure they're satisfied, that no issue was left untreated, to see if they have subsequent work offers for you, and simply to protect your network of contacts from defections. Again, this is a profession that requires people skills, and one of those is going back and checking on old customers, something which provides an invaluable boost to your image. |
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Good Luck
Hopefully these ideas for how to start a business as a consultant have been useful to most readers. Check with local and state officials regarding what licensing requirements there are for working as an independent contractor in the consulting field of your choice. |
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