How to Start a Consulting Business

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To start a consulting business, consider your background in the area of consultation, think about how long it make take to build a name, find a way to market the business, and increase your knowledge on the subject. Network extensively to create a successful consulting business with help from a marketing management professional in this free video on business.

Part of the Video Series: Small Business Tips
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Video Transcript

Hello, my name is Mark, and we're going to look at how to start a consulting business. Consultancy, by definition, means you're working for yourself. You're offering people advice within a specific field of operation. And I think from graphic design, to being a solicitor, to being an entertainer, to being a journalist, anything, you're just working for yourself. Now when you're working for yourself, that means that you have, only yourself to worry about in terms of the cost and time. So you need to think about this as a business. What makes you an attractive proposition? Do you already have a name in the industry? Do people know who you are? Have you been working in it for ten, fifteen years, so therefore people know what you do. Have got quite a few attached to it. If so, then study on your own makes a lot of sense, because you have the network facility in place. If you're moving into that field for the first time on your own, though, you have to consider the implications. How long are you going to work before, wait before work arrives? Time involved in actually getting the job. Networking is very important with this. How many people do you know in this sphere of work? How many people can help you? Can you team up with people? Can you be added as, onto the package as added value? Think about all the implications involved. It's the marketing of what you do. How are you going to promote and advertise what it is you offer, and what is it about your service that makes you different from the rest? Is it your mannerism, is it your style? Is it the depth of information or knowledge that you have on offer? Is it the speed of service? You need to think about where it is that you make a difference and then market yourself accordingly. But of course you have to network heavily to ensure that you're a busy person on a regular basis.

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