For any consulting professional who has a successful job with the fat salary, there remains a hidden desire to start his/her own business and it is the dream project. The experience of “be your own boss” is something which the professional has always dreamt can only be accomplished if he can float his venture.
Actually, the fact remains that though the job is good the professional is not happy being in it. The desire to gain 100% job satisfaction comes with the idea of starting one’s own company.
But what holds him back is to put his hard earned money at stake, his job and above all to an ability to take the risk. Well, let’s discuss the extra effort and push with the guidance which is required to start a consulting business. These points can be helpful to develop consulting business in any sector. They have the potential to rope in clients and will help in growing at a fast pace.
Let’s begin with
- Experience is the best teacher- Well; you cannot assume the risk completely. There will be risk to leave the comfort of receiving fixed salaries in compare to depend on the tumulus clients’ response. But, surely it will not be a complete disaster that will ruin you completely. Have faith in yourself; even in the worst case scenario you always have the chance to go back to your job.
- If no one to start with you, walk alone- we look for partners to share the risk, work and other load of starting the consulting business. However, if someone is not willing/available to partner you, then wait no more. Start and you might be better off alone.
- Act as a savior rather than an advisor- Don’t aim to become an advisor to common issues, aim big. This will help you in getting huge clientele and earn big revenues. Don’t limit yourself with projects, plans and systems but instead take over the issues completely and provide full solution.
- Charge the client in plentiful- It might sound pompous or boisterous but actually what you charge is the value of your service. If the client is not able to afford you, then probably you are with the wrong audience.
- Start with an expert domain which exclusively belongs to you- This makes you exclusive from the crowd of consultants. The way you deal the issue, plans and targets should be completely different to that of other competitors.
- The result from existing clients has more weight than new clients- They are your goodwill ambassador and will give you referrals and recommendations. The new clients might leave and wander for cheap or economical deals but the reports from old clients will help in the long run. They will help in building a strong portfolio.
- Always maintain separate personal and business accounts- If not maintained, this will land you in deep trouble. While calculating your taxes, expenses and above all finding your profits accurately, this habit will give you an extra edge in your performance.
- Prove that you are a specialist- This will attract clients who are actually in need of consultant. The trouble of meeting endless clients will save your precious time and you will be getting projects you are specialist or master to handle them.
- Keep your mentally and physically stable and healthy- you are sole owner of your business and the condition of your health physical or mental, describes the state of your business.
- Get rid of bad clients- They are and they will continue to exist. They will damage you more and therefore get rid of them is the best idea. The time spent on them can be utilized in more productive ways.
- Don’t exceed to your set limit for earning revenues- Set your ethical limits in the beginning and never cross them. It will land you nowhere; instead you will learn to make unethical compromises which are harmful for your business and yourself too.
- Be informative- Write blogs, articles and post them regularly. This way they will know about you and will be comfortable with your work structure.
- Expand and earn huge revenues- Try to build your own software, eBooks and other methods to earn revenues. Do not limit yourself to the entrepreneur’s job. After all you know a lot of demand for products in the market and have the capacity to build it.
- Develop communication skills- without this; you cannot make your client understand what you have for them. Even you are comfortable with `professionals who have better communication skills.