How to Start a Consulting Business - Part 1

A consultant is defined by the dictionary as “an expert in a particular field who acts as a consultant to a company or to another individual.” That sounds really vague, doesn't it?! But you probably have a pretty good idea of what a consultant means unless you've been in a coma for the past decade.

Companies certainly understand who a consultant is, and in 1997 US companies spent more than $12 million on consulting work. Anna Flowers, a spokeswoman for the Association of Professional Consultants in Irvine, California, noted that the association has recently noticed an increase in contacts requesting information from people who want to get into the field. "The market seems to be opening its doors to providing consulting services to companies," says Flowers.

Melinda P, an independent consultant at Arlington in Virginia, believes that more people are entering the consulting field because technology has made it easier for them to enter the field. "Technology has made it easier for others to succeed as consultants and it's the same technology that has helped me," she says.

The consultant's work is based on providing consultations only, nothing more, nothing less, so it is easy! There is no magic formula or secret that helps a consultant be more successful than another.

However, what separates a good consultant from a bad one is the passion and the motivation for excellence. Yes! A good consultant must have comprehensive knowledge of the subject or field in which they provide their consulting services, and this really makes the difference.

As you can see, in this time and age, anyone can be a consultant. All you need to discover is the talent within you. For example, are you comfortable working through computers? Are you kept informed about the latest information about computer hardware and software that is often constantly changing? Are you able to keep the knowledge that you acquire and then turn it into a source that encourages someone to spend money to benefit from it? Then you will have no problem working as a computer expert and consultant.

Or, are you an expert in fundraising? Perhaps you have worked for nonprofit agencies in the field of fundraising, marketing, PR, or sales, and over the years you have discovered how to do fundraising. As a person who has turned years of successful fundraising into a productive consulting firm, I can tell you that consulting work in fundraising is really a growing industry.

Things to Think About Before Becoming a Consultant:

What special certifications and licenses will I need? Depending on your profession, you will need a special certification or license before you can start working as a consultant. For example, fundraising consultants do not need special certification although you can become a National Association of Fundraising Executives (NSFRE)-certified person. In some cases, you may need to be registered as a professional fundraising consultant before you can start your business.

1. Am I qualified to be a consultant?

Before you start your own business and hope that clients will start knocking on your door to work with them, make sure that you have the necessary qualifications to carry out the work. If you want to be a consultant in the computer field, for example, you have to make sure that you are aware of the latest developments in this knowledge with all the trends and changes in the field of computer industry.

2. Am I organized enough to be a consultant?

Do I want to organize my day? Am I an expert when it comes to time management? You have to answer all the past three questions with the word "Yes"!

3. Do I like to establish a social network?

Networking with people is key to the success of any type of consulting business today. You have to start building your own communication network now.

4. Have you set long-term and short-term goals?

Do these goals allow me to be a consultant? If your goals do not match the time and energy needed to successfully start and build a consulting business, then you should rethink before starting any movement in this direction!

Top 20 Investment Firms Thriving Today:

Although you can be a consultant in any field these days, the current top 20 consulting firms include the following areas:

1. Accounting:

Accounting is something that any company needs, no matter how big or small. Accounting consultants can help any company with all its financial needs.

2. Advertising:

This type of consultant is usually employed in a company in order to prepare a good marketing strategy promotional campaign.

3. Audit:

From consultants who audit utility bills for small businesses to consultants who do the core business of a telecommunications company, audit consultants are enjoying the fruits of this work.

4. Business:

Do you know how to help a company make a profit? If you have a good business sense, then you will succeed as a business consultant. Consultants in this field are the second most desirable group in companies after computer consultants.

5. Business Writing:

Everyone knows that most business people have a problem when it comes to writing a report or even just a small memo. Enter the consulting business in the field of business writing, then everyone will be happy!

6. Career Consulting:

With more and more people finding themselves victims of downsizing, career consultants are always on call as they guide their clients to a career or business that will help them be happy and productive at the same time as employees.

7. Communication:

Communication consultants specialize in helping employees in both small and large companies communicate better with each other, and this ultimately increases the efficiency and smoothness of the companies' work.

8. Computer Consulting Work:

If you know everything about computers from software to hardware and everything in between, your biggest problem will be not having enough hours in a day to meet your clients' requirements!

9. Editorial Services:

From preparing newsletters to preparing annual corporate reports, expert editorial consultants will always be appreciated.

10. Executive Companies in the Search and Recruitment of Employees:

Although this is not for everyone, there are people who can find a specific talent that suits employers.

11. Gardening:

In the last decade the demand for gardening consultants (figuratively speaking) has increased to $1 million per year, not only do companies hire gardening consultants but even regular people who are too busy to take care of their home gardens.

12. The Art of Getting Grants:

When you learn how to write a grant application, you can set your own fee.

13. Human Resources:

As much as companies have problems with their human staff (and this always happens), consultants in this field will enjoy an endless supply of their clients from companies, whether large or small, (programs to prevent employee problems may include: teaching them to get along with others and respect and even preventing violence in the workplace).

14. Insurance:

Everyone needs insurance and everyone needs an insurance consultant to help them find the best plan and pricing system for them.

15. Marketing:

Can you help a company formulate a marketing plan? Or do you have ideas that you feel will help promote a company? If the answer is yes, why not try yourself as a marketing consultant?

16. Payroll Management:

Everyone needs to be paid for the effort they put in. By using your knowledge and experience in the field of payroll management, you can provide this service to many companies, large and small.

17. Public Relations:

Getting good media coverage for an organization is a real work of art. When the organization finds a good PR consultant, they will stick with them forever!

18. Publishing:

If you are interested in publishing, then learn everything you can learn. You yourself can also be a publishing consultant, who usually helps new projects when they are ready to launch a new newspaper, a new magazine or newsletter, and even websites and e-newsletters.

19. Taxes:

With proper marketing and business plan (as well as a sincere interest in taxes) your career as a tax consultant can be very convenient. This type of consultant advises companies using legal methods to pay the least amount of taxes possible.

20. Written Services:

Everything related to written speech will always be required. You have to find your specialization in the written field, and there will be no limits to your field.