So you want to start your own consulting business?

Here are a few tips on starting your own (home-based) consulting company.

Q. What do you think is the greatest misconception about consulting?
A. Being an “Expert” in your field does not insure your success as a small business…

Q. What one “success tip” can you share?
A. Be very good at Networking!
Q. What kind of capital investment is required?
A. Consulting service start-ups are the least expensive (Estimate $10k) i.e. Home Office Automation, Website, Printing Needs; Biz cards, Brochures, Phone Lines, Answering Services, Local Advertising, Direct Mail, etc.

Q. What is a reasonable time frame to achieve positive ROI? To expect salary comparable to your recent full-time job?
A. Realistically 6 to 12 months

Recommended Reading:

“Spin Selling” By Neil Rackham
“How to make it Big as a Consultant” By William Cohen
“High Impact Consulting” By Robert Schaffer
“Power Networking” By Donna Fisher and Sandy Vilas
“Flawless Consulting” By Peter Block
“Good to Great” By Jim Collins

Questions to Ask Yourself
– What net income do you want to make?
– How much revenue or sales is needed to make this much net income?
– How many customers or buyers are needed to accomplish this net income?
– To get customers, how many prospects do you need to talk to?
– What is the customer closing ratio needed to meet your objectives?
– What type of activity are you willing to do to attract new customers?
i.e. Marketing, Advertising, Public Relations, Promotions, Networking, etc.

Mark S. James, CPC
Founder and President
Hire Consulting Services, LLC
Career Management Coaching

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