June 22, 2018
The Best Way To Start Your Own Consulting Business
You know, I remember once, a consultant recently told me “People don’t see a need for my offer.” And they went on to explain that their offer isn’t getting any traction. And that their ideal consulting clients aren’t really interested in it. You know, it’s like they’re fishing for a trophy client and yet no one is willing to take the bait. This is quite a common concern I hear from consultants.
We all should know there are thousands of true professionals that have dreamed about starting their own consulting business. And It seems like a great career path. You know, hang a shingle, bring in clients, be your own boss, do awesome things and make bank.Consulting, as it turns out, isn’t sexy, glamorous, or as easy as it seems. And it can downright hard — harder than you might think. I would encourage anyone with the smart to start a consulting business. But I also offer cautions — a few yield signs that could save you a lot of grief and get you closer to achieving your dreams.
I remember a while back that I was consulting with a client who told me about a sales incentive they ran years ago. And It worked very well. And they broke sales records easily. They were very ecstatic about the great results. I asked, “So, why did you stop running that incentive?” They looked at me kind of puzzled. And they started scratching their heads. Then shrugged. Why stop running a program if it gets you really good results? Why stop investing in something if it provides you with a great results.
You know, I had a great year, adding close to ten thousand dollars in new revenue, and the business is growing very well. I’ve experienced a lot this year! And I’ve worked with some of the largest consulting companies and consulted for some of the world’s biggest businesses, in America and the World. And when I started to grow my own consulting business I wanted to consult with the best consultants in this business. And I have been working with the best consultants in the business. It’s been a great investment. What a blast, total income online.
And also, if you’re like most people who gives professional advice and or service, you went to business school, or medical school or learned a technical skill. Got a job and started on a career. One day, though, you wondered where that career is going. It’s only a matter of time until you find that no job is secure. You think, is a merger is coming? Then there are outsourcing rumors? Or is technology taking jobs? And then you either quit or your job goes away.Now what? Some people say all you need is a phone and a laptop to go in to business. So you do, and find your first client – usually a friend or colleague.
But eventually, you got hit with the reality getting other clients isn’t that easy, and that there’s a lot of tasks you were never taught in school. That is, running a business means a lot more than just being great at your special skill. And what’s your business model? And are you no more than a “contractor” … performing hourly services to just a handful of clients because that’s all you can handle? What if you land a large account, but can’t scale up to their need?
Each year management consultants in the United States receive more than $2 billion for their services.1 Much of this money pays for impractical data and poorly implemented recommendations.2 To reduce this waste, clients need a better understanding of what consulting assignments can accomplish. They need to ask more from such advisers, who in turn must learn to satisfy expanded expectations.
You know, the engagement characteristically concludes with a written report or oral presentation that summarizes what the consultant has learned and that recommends in some detail what the client should do. And firms will devote a great deal of effort to designing their reports so that the information and analysis are clearly presented and the recommendations are convincingly related to the diagnosis on which they are based. And a lot of people would probably say that the purpose of the engagement is fulfilled when the professional presents a consistent, logical action plan of steps designed to improve the diagnosed problem. The consultant recommends, and the client decides whether and how to implement.