Consulting Best Practices

5 Tips to Launch Your Consultancy

The global consulting industry is worth more than $250 billion, so you might as well scoop out a piece of that pie for yourself. In an article for Inc., Jordan Kasteler outlines five basic tips that will allow your new consultancy to succeed:

  1. Marry your expertise and a gap: Take your expert skills and apply them in a space where sufficient help for target businesses does not yet exist. Make that your niche.
  2. Ask yourself some key questions, such as these: Do you have enough knowledge to get started now, or should you take additional training or classes first? Do you need any licenses or certifications? Are you organized enough to run a business? Do you have the people skills to forge the many relationships you will need to leverage in your business?
  3. Craft a business plan with goals: Include points like your target market, competition, price points, and goals for the first year.
  4. Set up a comfortable workspace: It will probably be at home. Alternatively, maybe you can share office space with other entrepreneurs and split your costs.
  5. Think about marketing: This one is a big, long-term experiment to determine what attracts your ideal clients.

For further thoughts, you can view the original article here:

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