Starting a project-consulting business can be a challenging yet rewarding career move. It allows you the opportunity to pass your knowledge onto businesses and individuals while giving you the freedom to work from home. Running a consulting business, however, means a lot of preparation and hard work, especially in the beginning. Being organized and well-prepared from the start can mean the difference between success and failure.
Instructions
1. Know your marketable skills. Before starting a project-consulting business, take the time to identify the skills that will be most valuable to your clients, and write a detailed list of your direct experience in using those skills. This will allow you to give your clients clear and tangible examples of your expertise, which will make it easier for them to trust, and pay for, your advice.
2. Write a business plan. This gives you the opportunity to fine-tune your business and bring to light many of the small details that might otherwise go unnoticed, such as financial goals, marketing strategies and organization techniques. While business plans are typically used for attracting the interest of potential investors, they also serve to detail the specific and attainable long-and short-term goals for a consultant's business.
3. Hire a consultant. Many new consultants forget there is a vast supply of knowledge waiting to be tapped. Just as you have your area of expertise, there are many other consultants who can help you get your business up and running by providing invaluable tips and guidance in areas such as marketing, finance, web design and accounting.
4. Set up your home office. It is important to have a space that is specifically dedicated to your business. Purchase any office furniture and equipment you may need and set it up in an area that will allow you to work uninterrupted. At minimum, you should have a desk, computer and an all-in-one printer (allowing you to fax, copy, scan and print from one machine). It is also a good idea to set up a dedicated phone line that is used only for business purposes.
5. Create an online presence. Having a professional website allows you to reach a greater market and provides instant access to information about your consultant business to both local and international clients, 24 hours a day. It is also an invaluable marketing tool that allows you to passively seek out new business and build a client base.
6. Create a schedule and stick to it. Don't assume that not having a client project to work on means you have nothing to do. Running your own consulting business comes with a lot of down time, especially in the beginning as you build a client base. Use the downtime efficiently and make it a point to spend a set number of hours every day actively seeking out new clients, marketing your business or brainstorming new ideas. Just as you would spend eight hours a day working at an office, you should dedicate a specific set of hours every day to working on your consulting business.
7. Market yourself and actively seek out opportunities. Word of mouth, networking and social media are all great ways to get your name out there and begin building a client base. Talk to your friends about their project-consulting needs and offer your services to them at a discount. Ask current and past clients to recommend you to friends and co-workers. Invest in fliers and brochures to leave at local businesses in the area, and always have a business card handy to give away. Marketing yourself effectively can mean the difference between a steady flow of clients and a nonexistent client base.
8. Offer discounts and promotions. People love to save money and are more likely to respond to new business when they feel they're getting a good deal. Don't be afraid to offer your services at discounted rates while you get your business off the ground. Offering discounts to certain organizations is also a great way to build a client base. For example, try offering your services to nonprofit organizations at a 20 percent discount, or offer a free one-time consultation to anyone who makes a successful referral to your business.
9. Be prepared for down time. Starting and running a consulting business can mean a lot of work that doesn't initially pay off, so have finances set aside to carry you through the rough patches. It is always good to plan for periods of little-to-no work by setting aside a portion of your profits in a savings account during busy times, so you can tap those funds later when you need the extra cash to keep your business afloat.
Tags: your business, client base, consulting business, build client, build client base, your services, consultant business