How to Create Successful Consulting Business?

How to Create Successful Consulting Business?

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Tips

So now you have the contacts and profound knowledge and skills in the sphere. Consulting is never as easy as it seems, though it sounds like really easy stuff. So what should you do to get a great start? Here are some useful tips that may come in handy:

  1. Learn how you can apply your specific knowledge to fill in the gaps.

It is obvious, that your future clients have enough smart employees, who know a lot about the sphere. If they search for a consultant that means that they are looking for answers for unfamiliar markets, methodologies or solving of unfamiliar problem. They have enough people to solve common problems and you are needed because you have specific knowledge and objective insight.

Consultants are needed to fill in the knowledge gaps. No one will call you to provide raw data on technology, for instance, they will want you to direct them to adapt their brand to a new space or to prompt the implementation of cutting-edge technologies.

  1. Pay attention to relationships. First and foremost, discuss the client’s specific needs and objectives and only after that have a cost talk. Not many businesses need a consultant on regular basis, so build connections and contacts. And develop a reputation – it is essential.
  2. Sell results – never ask for price per hour. You have to be focused on a result, so provide a range of possible cost scenarios and value-adds.
  3. Always use flexible structures of work. Of course, there is a possibility to get ongoing monthly retainer, however, the most likely you will get results of your work and be ready to do the next one. You are creating something like a freelance support network.
  4. Dedicate similar time to acquiring new business and performing assigned tasks. The average time between contact to engagement can be up to 36 weeks. Consider reinvesting time into development of the business if it lasts longer.